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Everything posted by eosirl

  1. Yare absolutely right! The process of converting a currency is a standard procedure. I have done currency exchanges many times on my international trips. I always ask for a quote, even if the rate is displayed on the screens, Why? Simply because when asking for a quote, they will present you with a proforma receipt which shows the amount you you requested to exchange and the bank's fees if any, and then net amount you will receive in the exchange-currency of your choice. Then you can say Nay or Yay. Just got to watch the spread which is the difference between the bank's selling
  2. Oh I totally agree, getting the dinar on the forex is but one step in the process of Iraq's reconstruction in my opinion. The UN had indeed paid a visit to Iraq several weeks ago. I feel certain it wasn't the weather they were chatting about. The UN with is designed planned projects will assist the govt. of Iraq in its reconstruction as per those white papers the Iraqi govt. spoke about months back.
  3. I would think so that's it's more. This is from state to state. Whereas the other financial institutions as you have mentions are there for their own purpose. The fact this is the US Ambassador to Iraq, and he is the official representative of the US president, is very telling. I see if any permission was needed from the US to go forth with Iraqi reforms, they have the US permission in my opinion from this meeting.
  4. Thanks Carrello. Finally it's nice to see someone who comprehends basic algebra in terms of keeping Dinars dinars and not in the arbitrarily switching to USD in the middle of the computation.
  5. Excellent article explanation on how the dinar could be introduced to the forex fixed to a basket of currencies with the percentages prorated. From the graph it takes the high and low rates out of the dinar's value equation and smooths the exchange rates. The more currencies in the basket and depending on the percentages assigned can give a high overall average rate indicated by the bolded broken green dotted line. Thanks Laid Back
  6. Oh come one Carrello, where's your sense of humor? What makes you think that I don't speak 3 languages and have lived in several countries too. The paranoid reference was in relation to you not being party to Blackrobes circle of private information and the proposed idea that BR and I were previously associated, which again you were categorially wrong and I have every right to refute it. Never said you were afraid, or afraid of anyone. I don't know who you are. Just remember you did the judging first. I just simply retorted to your comments. Please note there's a diff
  7. shhhhh you are too, look behind you!
  8. Thanks DinarThug for the explanation. The unfounded allegation of Blackrobes and myself being in cahoots was a red flag. It was the cause and effect fallacy in action. The cause - Blackrobes and I were new with 12 posts each therefore the effect - we were in cahoots. lol No need for proof just allegations. Sad really.
  9. Tried your suggestion PrehistoricMan and all I got was Nordstrum and Dillards selling black robes.
  10. Carrello, For the absolute record, I have no idea who Blackrobes is, other than the fact he/she claims to live in the southern hemisphere and I live in the northern hemisphere. I can assure we are not neighbors. The fact we have 12 posts each has is nothing more than coincidental and it apparently feeds your paranoia. You are the perfect example of why anyone with a bit of knowledge of the subject of international finance are reluctant to engage with forum trolls. While you are annoyed that someone with some information doesn't want to share that information with you, upsets you. P
  11. Forgot to mention, that the tone of the article is negative towards an unregulated Float which market forces determine the dinar's trading rate.
  12. Yes, it was Walkingstick via Frank that suggest the narrow band of trading, no mention if any Iraqi official, in a pertinent position, offered the same strategy. While Saleh discusses the simplistic approach of a currency's value being dependent on the Supply and Demand in reality, the factors behind the valuation of a country's currency is far more complex than supply and demand, but rather the country's current accounts, the ability to pay its debts, its assets, its political stability, its reserves, both fx currency held by the CBI, and in the case of Iraq, its oil reserves indicative of fu
  13. How interesting that before the budget was pass a British envoy travelled to Iraq to speak to the PM requesting that Iraq get its budget past ASAP. Obviously the UK government has some special interest in the affairs of Iraq.
  14. In my limited experience in forex currency trading, I learned one main principle and that was, you need to know when to enter a trade and more importantly know when to exit a trade and nab the gain. The downfall to that principle are emotional decisions. Don't trade on emotion, trade with critical a financial decision. There are numerous analytical tools to help you make a rational exit. One of my favorites is the Fibonacci tool. If anyone isn't familiar with it, it would be to your benefit to read up on it in the context of forex trading. So I can hear you say - when am you go
  15. The over use of highlighting drives me up the wall and down again. I don't think they ever heard of 'less is more'
  16. Hi Blackrobes, Very nice to make your acquaintance. I cannot find fault with what you have said above. I once travelled to the Philippines on business on my return to the US, I had a few Pilipino notes left over, I approached my local banks to exchange and they refused to exchange it. What I discovered it is the bank's discretion whether it chooses to exchange any particular currency or not. And more so with exotic currencies. Why? Simply exotic currencies are considered high risk due to the possibility of large swings in their exchange rate. The is called forei
  17. Thanks. While new to the board, old to the dinar wait. lol
  18. Walkingstick is allegedly working in Baghdad with the CBI and allegedly happens to be in meetings or knows the content of the meetings. Here's an excerpt of what he is reportedly saying via Frank and my comments are afterwards. 4-14-2021 Newshound/Intel Guru Walkingstick [via Guru Frank26] Phase three: They (the Fab 4/CBI) will keep a very tight band, a super tight band on this international float. Because they don't want it to move anymore than plus or minus 3%. Then it will reach a and demand will put the dinar on a different international level.
  19. Hold your horses! Wait just one minute! "The Deputy Governor of the Central Bank, Ihssan Shamran, told the National News Center that “the exchange rate of the dollar during the coming years will not change,” indicating that “the central bank did not resort to a gradual change in the exchange rate because it causes a catastrophic collapse in the exchange rate and confuses the market.” How wrong can that blue highlighted statement be? Any gradual change in any exchange rate for any currency doesn't cause a catastrophic collapse and it doesn't confuse the mark
  20. Oh gosh he we go again, if Baghdad fails to send the expected dues to Kurdistan, Kurdistan will hold up any progress on the hydrocarbon law in retaliation. I hope that Baghdad has the good sense to comply with its commitment to Kurdistan ASAP and get things moving. When I see reports such as this, I can't help but believe that's it is public shaming at its best to achieve the compliance needed.
  21. Well this is a very interesting post: " Posted 5 hours ago The currency auction stops for a week as a result of banks ’fear of changing the dollar’s price First off, it's the CBI who decides whether the auctions are a go or not, not the banks. However, it the banks are so fearful, the auctions should still take place showing a zero demand for the dollar. There's always a demand for the dollar esp. in remittance - the purchase of imports into Iraq payable by an international currency the USD. The customer who would demand the USD would give the bank din
  22. In 2019 when I did have access to my account I was able to calculate the interest earned by dividing the interest earned for that 6 month period by the previous balance. For the first half of the year, they credited the account with 0.012 or 1.2% interest. For the second half of the year the bank applied 0.013 or 1.3%.
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