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DNAR

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Everything posted by DNAR

  1. A lot of people tragically think that they can take their 10, 20, 30 million dinars into a bank and say … “Here. Exchange this. Wow, how many people have that much dinar? i'd say very few.
  2. Unfortunately you are correct. If they increase the value first which they aren't going to announce in advance, then we will be fine. Possible they are using these articles as smoke. Fact is, cause of poor translation no one know's what they mean exactly when they say delete the zeros. ask 100 people, 50 people will say delete 3 zeros from exchange rate and 50 people will say it mean delete zeros off notes. all we can do is wait and see and hope the best.
  3. Good point. Ya who really knows what they mean and are doing? Clearly they want to confuse us.
  4. Actually $50 note is roughly .05 cents usd. These are just rough numbers but fairly close. $5000 note is about $5 usd $500 is about .50 cents usd $50 is about .05 cents usd $500 note
  5. Well this makes way more sense because guess what the number is when you do the math? Yes that's right pretty damn close to the current nominal rate. Which is .00088 and now drop those zeros and we are looking at the opening rate. lol
  6. oh never mind. DinarThug already posted it here: http://dinarvets.com/forums/index.php?/topic/196640-delta-abadi-from-germany-5-billion-dinars-440-million-dollars/
  7. Iraqi PM Haider al-Abadi on rebuilding Iraq after ISIS http://www.cbsnews.com/videos/iraqi-pm-haider-al-abadi-on-rebuilding-iraq-after-isis/ another link with same video. http://www.dailymotion.com/video/x2ff6bw Abadi quotes 5 billion dinars which is about 450 million dollars. Was his mistaken or did he just say .09 cents for the iraqi dinar? 40 sec mark.
  8. Must be mostly business men/women for a worthless currency. How many tourists are traveling there? I'd say not many...imo.
  9. I forgot to add one more thing. IMO this is more relating to people coming and going in Iraq and not the import/export of goods and services.
  10. Sorry I am blind, but where on the site does it say or reference dealers? I only see "All travellers". You're telling dealers physically go to Iraq to get their dinar? I think so, pretty they get it shipped to them. https://iraq.visahq.com/customs/#!import-regulations
  11. How does dealers get their dinar? This article doesn't clarify stopping dealers from getting large quantities of dinar. The site refers to the travelers to and from Iraq, not businesses. Need more info.
  12. Middle East Understands they Must Let the Pegs Go to the Dollar Gulf Arab oil states may need to rethink longstanding economic policies, including their fixed exchange rates, over the next couple of years as economic cycles in the region and the United States diverge. The deflationary trend will impact the region as hard-times emerge and the economies decline into 2020. The six nations in the Gulf Cooperation Council (GCC) have pegged their currencies to the dollar. What was once viewed as a stabilization mechanism will turn against them and import deflation as oil prices collapse. True, in recent years the GCC economies have moved more out of sync with the United States. However, the pegs are now pressing the GCC policymakers to mirror the U.S. central bank’s decisions even though this is contrary to domestic policy objectives. As long as they have currency pegs to the dollar, the Gulf States could face destabilizing capital outflows/inflows if they allow large interest rate gaps to open up with the United States. There remains a risk that the US will be forced to raise rates to fight a rise in the stock market as capital inflows pour in from many regions. We are likely to witness extreme currency destabilization in the years ahead. http://armstrongeconomics.com/2015/01/30/middle-east-understands-they-must-let-the-pegs-go-to-the-dollar/
  13. Isn't the former position (official rate) more around .30? $3.22 was the black market rate. http://en.wikipedia.org/wiki/Iraqi_dinar The dinar was introduced into circulation in 1932, by replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with the British pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778, before a 5 percent devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported at five to six times higher (3 dinars for US$1) than the official rate.
  14. I would never see it if you didn't bring it here. So Stop, thx.
  15. Great now we will get bombarded with articles about 2015 budget for the next 1.5 months.
  16. China will begin direct trading between its yuan currency and the euro starting on Tuesday, the national foreign exchange market's operator said, as Beijing seeks to broaden the unit's global usage. The China Foreign Exchange Trade System already offers a platform for yuan-euro transactions but direct trading means the US dollar will not be used as an intermediary currency to calculate rates, according to a statement released Monday. The market operator said the move aimed to promote bilateral trade and investment, facilitate the use of yuan in cross-border trade and lower conversion costs. In June, China started direct trade between the yuan and Britain's pound, one of several currencies to be included in a streamlined regime. China has long had direct currency trade with the United States, and in recent years has added Japan's yen, the Australian dollar, the New Zealand dollar and Malaysian ringgit. Beijing keeps a tight grip on the capital account -- investment and financial transactions, rather than those related to trade -- on worries that unpredictable inflows or outflows could harm the economy and reduce its control over it. But China is seeking greater use of the yuan -- also known as the renminbi (RMB) -- in line with its status as the world's second-largest economy and to challenge the US dollar, analysts say. "Direct trading brings together the RMB with the world's second-most actively traded currency and is a significant step in (the) RMB's globalisation," said Ryan Song, head of markets for China at British bank HSBC, which is acting as a market maker for the new pair. "The trade and investment ties between China and the European Union, as two of the world's major economies, can be further strengthened through the greater convenience of direct trading in this pair," he said in an HSBC statement. The yuan closed at 7.8085 to the euro on Monday, according to the China Foreign Exchange Trade System. http://finance.yahoo.com/news/china-start-direct-currency-trading-euro-110234836--finance.html
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