DinDinar

Rhona...not sure if you noticed, but the level of intelligence of people on this website if pretty low. Poorly educated. It should be about investing in the dinar, but you can see that's its nothing more than a sounding board for jackass mentality.

You might want to take a look at this. ******************************* Admin notice: Do not post links to other sites - it is grounds for banning!

Realistically? Honestly?....I don't think it's going to happen for a very long time...that country is still dangerous, still the possibility of civil war...do we have the intensity in interest by American companies willing to invest in Iraq? Not really. China and others...sure. They have a growing industrial base. The US has to find other more alternative sources of energy or continue to be bound to all the political stress it causes us here. All you have to do is look at the growing concern in the US about being codependent on foreign oil. But, until it's truly safe to send US contractors there to rebuild at the rate that would make it appealing to invest in...it'll stay as it is, I think. It might drop from 1166 or whatever a little, but it fluctuates back and forth. More than likely it won't change much. I do have a friend that lives in town that is from Saudi Arabia - he's a banker in Riyadh. His father is a banker in Riyadh. Both, a few years ago, bought Iraqi dinars - both dumped their Iraqi dinars telling me that they will not travel their at all any longer because it's so unsafe. The money is worthless practically. In spite of what people read, it's still a volatile country. They say the money will be re-denominated...and it isn't a great investment. We aren't going to see the kind of money people are thinking they're going to get in return. It's NOT Kuwait. Iraq IS changing, but the government is in a delicate state still with the possibility of breaking up into 3 separate autonomous countries because of religious circumstances, socio-political situations, etc. So, it will be quite a long time before anything happens - don't count on it happening in "a day or two" or "very soon." It is all bull and who knows how many of these so-called "gurus" are in on all this working with Adam Montana? How do you know it isn't only two or three with several scree names making it seem like there are "so many gurus" saying it's "going to happen...anytime" and, "hurry up and sign up for this membership or you'll lose out!" Lose out on what? Should the exchange rate happen to revalue and not redenominate, then you'll be able to go to any bank doing the exchange for Iraqi dinar...if you're still invested in it by then. You may be frustrated enough to try to sell them back to Dinartrade or whomever you bought them from. Just have to be patient, don't count on this happening for a very long time, go about saving your money as you can, and if this dinar thing happens then that will be good. But, don't be fooled by all the baloney you read from the "pumpers" which I noticed people are becoming more and more frustrated by based on all the readings, comments, etc.

U.N. council brings Iraq closer to end of 1990s sanctions Posted onJune 27, 2013 The U.N. Security Council brought Iraqone step closer on Thursday to ending United Nations sanctions imposed on Baghdad more than two decades ago after former President Saddam Hussein invaded Kuwait In 1990. The 15-member council unanimously agreed that the issue of missing Kuwaiti people, property and archives should be dealt with under Chapter 6 of the U.N. Charter – which urges countries to peacefully resolve any conflicts – instead of Chapter 7. Chapter 7 of the charter allows the Security Council to authorize actions ranging from sanctions to military intervention if states do not abide by council demands. The move by the council is a significant political boost for Baghdad as it struggles to restore its international standing a decade after a U.S.-led invasion of Iraq toppled Saddam in 2003. The Security Council resolution recognized “the importance of Iraq achieving international standing equal to that which it held prior to (1990).” U.S.-led troops drove Iraq out of Kuwait in the 1991 Gulf War. “This is a new beginning for the relations between our two neighborly and brotherly countries,” Iraq’s Foreign Minister Hoshyar Zebari told reporters after the vote. “This is an example for other countries also to resolve their disputes and differences through peaceful means.” The only issues linked to Iraq’s invasion of Kuwait that remain under Chapter 7 are an arms embargo and Baghdad’s payment of $52 billion in compensation to Kuwait, diplomats say. Iraq still owes $11 billion and has said it expects to pay by 2015. There are still a range of Chapter 7 issues imposed on Baghdad after Saddam’s ouster in 2003, diplomats say, including the freeze and return of Saddam-era assets and trade ban on stolen Iraqi cultural property. U.N. Secretary-General Ban Ki-moon has recommended that the U.N. political mission in Iraq should take responsibility for facilitating the search for missing Kuwaitis, or their remains, property and the country’s national archives. Source: Reuters

...says he was 98 years old...born on June 13, 1914...

MIDEAST MONEY-Iraq dinar is short-term disappointment, long-term bet Posted on October 3, 2012 Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions. The logic of the dinar bulls is simple. Iraq’s oil exports rose to 2.6 million barrels per day in September, their highest level in three decades; the country aims to hit 6 million bpd by 2017, which would put it close to Saudi Arabia’s current level. Even if unstable politics, militant violence and bureaucratic inefficiency prevent that target from being hit, Iraq still seems to be on the threshold of an oil boom that will transform its finances. Inflows of new oil revenue could give the country big external surpluses and push state finances deep into the black by late this decade – the classic recipe for a strong currency. “As far as our investors are concerned, when they buy Iraqi dinars they do know it is a long-term investment. You know it takes time for a country to rebuild itself,” said Hassnain Ali Agha, president of Dinar Trade, a U.S. dealer of exotic currencies. Because the dinar is not freely traded by banks outside Iraq, online dealers of banknotes such as Dinar Trade are the only way that most foreigners can invest in the currency. The Las Vegas-based company says it sells as much as hundreds of thousands of dollars worth of dinars daily, shipping dinar notes to thousands of customers in the United States and elsewhere. Agha said that because of optimism about Iraq’s oil wealth, there had been solid demand for dinars since his company was founded in 2004, a year after the U.S. invasion which triggered years of political violence and economic turmoil. Back in Baghdad, however, Iraqis themselves are not convinced. Many take what opportunities they have to change their dinars into hard currency, and conduct all but small day-to-day transactions in U.S. dollars. “We have no trust in the Iraqi dinar – we feel afraid to save it. We trust the dollar more. The dollar does not go up and down, it is fixed,” said housewife and mother-of-two Eman Saadeldine. WILD SWINGS The dinar has endured wild swings over the past three decades. In the 1980s, one dinar bought around $3, but economic sanctions imposed on Iraq around the time of the 1991 Gulf War sent the currency into decline and stoked inflation, which the government fuelled by printing money. By late 1995, $1 bought as much as 3,000 dinars. After the 2003 invasion, the central bank intervened in the currency market to strengthen the dinar, using its supplies of dollars to manage the exchange rate. But over the last several years, even as Iraq’s oil production has expanded, there has been none of the appreciation for which speculators have been hoping. The central bank now sells dollars in daily auctions at a fixed price of 1,166 dinars, a level barely changed since 2009. In fact, the dinar has recently faced downward pressure as a result of the international economic sanctions imposed on neighbouring Iran and Syria. Iraqi traders rushed to buy dollars to sell on illicitly to residents and businesses in those countries, which are hungry for hard currency. The dinar fell as low as 1,280 in the open market this year before Iraqi authorities reacted by allowing two state-run banks and some private lenders to sell dollars, helping push the exchange rate back to around 1,200 currently. Another factor counting against the dinar is the fact that the largest banknote is only 25,000 dinars. This often makes the currency unattractive to use in an economy where the banking system is primitive and deals are often done in cash. Saadeldine recalls paying in cash for a new house in 2009. “If our money had been in dinars, it would have been impossible for us to carry it. It was in dollars and we carried it in a small suitcase,” she said. The central bank has been considering plans to knock three zeros off the nominal value of banknotes to simplify financial transactions. This would not in itself increase the real value of the dinar, since prices would adjust in line with the redenomination, but economic experts say it could improve confidence in the dinar and thus boost its value eventually. “It would increase trust in the dinar even though its value would not change,” said Baghdad-based economist Majid al-Souri. “Indirectly, when trust increases there will be appreciation.” Earlier this year, however, the cabinet decided to suspend the technically complex redenomination plan until further notice, saying the economic climate was not suitable. The biggest obstacle to dinar appreciation is the fact that for now at least, Iraqi authorities appear content with the exchange rate in its current range. In a memorandum to the International Monetary Fund on economic and financial policies for 2011, written in March that year, the Iraqi government said it saw benefits in keeping the dinar stable. “We believe that the policy of maintaining a stable exchange rate continues to be appropriate, as it provides a solid anchor for the public’s expectations in an otherwise uncertain environment and in an economy with a still very low level of financial intermediation,” it said. LONG TERM In the long term, however, Iraq’s finances and economy may improve so dramatically that authorities feel comfortable allowing the dinar to appreciate under the pressure of flows of oil money into the country. The IMF expects this year’s estimated budget surplus of just 0.2 percent of gross domestic product to balloon to 12.1 percent in 2017. The country’s balance of trade in goods and services, in deficit as recently as 2010, is projected over the next five years to shift to a large surplus of 11.3 percent of GDP. Deputy central bank governor Mudher Kasim told Reuters that he expected redenomination of the dinar to go ahead in 2014 or later, by which time the amount of Iraqi currency in circulation would have increased significantly, making financial dealings in cash even harder. In the long term, the central bank aims to make 1 dinar equal to $1 with a combination of redenomination and appreciation, although that will take over three years because of instability in the Middle East, Kasim said: “If not for the regional circumstances, we would proceed faster with that plan.” Some analysts think the appreciation could go further. Kamal al-Basri, research director at the Iraqi Institute for Economic Reforms, an independent research body in Baghdad, said he expected the dinar to stay stable for the next three years, but that afterwards it might strengthen beyond parity against the dollar, including the effect of redenomination. For that to happen, Iraqi politics will have to stabilise, skill and education levels rise and the economy diversify so that it is not so heavily dependent on oil exports, he said. Speaking at the Baghdad currency exchange shop that he owns, Ahmed Abdul-Ridha said the dinar’s stability in the past three years was good, but it did not indicate the long-term trend. “We wish the dinar’s value would go back to what it was like before, when it used to equal $3 in the 1970s and even in the 1980s,” he said. “I expect that day will come. Why not? What we are going through is an abnormal condition…We are an oil country.” Source: Reuters

That's the EUR rate of .73 not for IQD.

All the talk about deleting the zeros folks means a "LOP!!!!!!" Doesn't anyone get it except a few? What's it going to take/ You DO NOT WANT TO ROOT FOR DELETION OF THE ZEROS. Man.... Sorry estewart...you have an important point. Too many people on here who haven't a clue about what it means when they want to delete the zeros...they'll end up barely breaking even if this happens. DinDinar

If they drop the 3 zeros and then raise the value to $1 USD equivalent then we have lost money. Isn't dropping the 3 zeros from the dinar notes a lop? That would mean that your 1,000,000 Dinar would be really worth only 1,000 USD. So, nobody has made anything. You may have actually lost money on this investment because you're sitll going to have to drive to the bank in NYC or wherever unless you live next door...to cash it all in. It costs money to do that; the fees the bank will take; etc, etc. So, can someone explain to me how dropping the 3 zeros and reducing your dinar (as an example) 10,000 dinar note to a value of 10 USD is something you're hoping for....? Are you serious? You've made 10 bucks. If they drop ANY zeros...especially 3 zeros...the money is worth less than you paid for it. You'll just be getting back less than what you paid for it in many cases...unless you bought it years ago cheap. So, I don't get why everyone gets all excited and all that baloney about "GO RV"...etc with this real possibility of the lopping off of the zeros then revaluing to only 1 American dollar. It won't be much of an investment if you hope for that. You need to hope for NO lopping and then a revaluing of the dinar note to 1-3 USD...then you have an investment worthwhile. Can someone explain whey they're so excited about this? Not being negative, but folks you have got to be realistic about this. You do NOT want them to drop the zeros or anything except the baloney of not having revalued yet. Just trying to bring this into perspective because there's a lot of overreaction to every little move anyone makes in these articles. It seems that when someone in the GOI brings the browns to the superbowl it might mean something. Relax. It's got a long long way to go - the economy HAS to improve before they'll do anything with this currency. More investment in their infrastructure (like we should be doing here) and jobs (like we should be doing here) and more development contracts by foreign investors, etc etc. Sorry if this sounds negative, but being realistic is better otherwise it's a continuous frustration, confusion and disappointment over this. Thanks.

Nothing's going to happen for years...everybody jumps on every little tidbit of information. Just sit back and wait for a a decade or so until Iraq becomes a rich oil nation like Kuwait, S.A., Oman, etc...then it will revalue. IMO. Usually if I say something like this everything goes the opposite! I hope it revalues soon! Go RV!!

Sorry to say this, but don't write ridiculous statements like "this administration wants to see us go belly up"...come on. Let's act civilized and be reasonable. That's not what this or any administration wants in this country.

Trump and Ryan are jackasses.

I wish someone would finally end it and get rid of that jerk Ahmadinenutjob once and for all so the world can live in peace in that region. Dumb SOB....I'd love the opportunity to tell that a-hole what I think about him or give him a third eye he can't see out of.. Good for nothing piece of &$#@@#%^&**&^%$#!

Alot of this sounds logical....but the end gets a little Jesse Ventura....ist with the conspiracy theory...but I hope the RV happens soon.

Here's the link for the Kuwait dinar from Wells Fargo: www.foreignexchangeservices.com/index.html?partnerid=FES&serviceType=rate