Linda Bower

I've been watching the charts on XE and for the past 2 1/2 weeks its been going bananas! Up and down, up and down, over and over and over again. It had held pretty steady for several years, but not now! It looks like we are monitoring their currency heartbeat. I have no idea what it actually means, but my hope is its going to start shooting up in value.

XE now shows 1USD = 1,309.65

Henig Article: "Including Iraq..Three countries will record the highest economic growth in 2023" Quote: "Despite the decline in the economic growth of the Arab countries, the bank stated that "Egypt, the UAE and Iraq have the highest economic growth rate among the other Arab countries during the year 2023, as their growth is expected to exceed 4%, while the growth rate of the rest of the Arab countries will decrease to less than 4%." Grouping Iraq in with the UAE is a far stretch. Take a look at Dubai's skyline over the past 20 years and you will notice it has quadrupled. Their commerce is spreading like crazy and they pay their citizens a portion of what they bring in from their oil revenues. Iraq has a starving population and it has been in a standstill mode for the past 20 years. They have brought in a lot of oil revenue, but it has not been to the benefit of their citizens. How can they expect to succeed in commerce until they spread the wealth around?

The difference with Kuwait is they didn't have all these chat sites feeding them information. They had to have boots on the ground telling them what was happeneing with the rate. So when the rate started climbing they had to rely on who they knew to know when to cash in. That $7 rate happened so fast they couldn't act fast enough to take advantage of it.

According to Ronan (that used to be in here and Him and his father invested in Kuwaiti Dinar), It bounced around at first and went as high as $7+ before it setted at 3.25 (or there abouts) But Kuwait dinar was a whole different animal than the IQD is. Lets just be hoping the IQD shows a profit for all these years we've been holding it.

I live close to Orlando and we do our banking with Truists Bank. Perhaps I could check it out (Frank's bank story)

Are the white papers even valid anymore, Louigi, being as there's a new sherriff in town???

rvmydinar We were already home when they did the lop. The Russian people did not benefit from exchanging their old bills with the 3 zeros when they exchanged them for the new bills without the 3 zeros. I'm sorry, but I don't remember the rate of exchange for us. We exchanged whatever rubles we had left over in Russia before we left.

We were in Russia in November 1997 adopting 2 little girls. We had to exchange all of our adoption money into rubles to pay for everything. We were millionairs! Shortly after we got home Russia lopped their currency (losing the 3 zeros). The Russian people were given very little time to exchange and they limited the number of hours the banks would be open. The lines were non ending. So when the time was up many many Russians were stuck with useless currency. We were back in Russia 7 years later and the venders at the markets were unloading useless currency off on unsuspecting tourists as change for their purchases. That, coupled with the fear of getting rubles that had been contaminated by Chernoble made for tricky exchanges. So when the time comes to exchange our Dinar we are choosing to be safe rather than sorry.

Tivon said the HCL is ready- How is it ready? It certainly hasn't been passed into law or we would have heard it from Adam.

It makes you wonder how much they are paying Kapperoni to say this. Another effort to get triple zero dinar off the street?

To Me, Militiaman's thinking is a lop and does not benefit us.

Viet Nam, like China benefit from a low exchange rate because they export so many goods and it far exceeds what they import Iraq, on the other hand has very poor citizens that have to pay dearly for goods because it is all imported. At this point they benefit very little from the oil their government exports. So if Kazemi is going to keep the common man on the street happy, he needs to make some drastic changes.

But how do we know for sure they are not referring to the rate it was before they changed it a year ago?

I have not purchased any more dinar in the past 12 years.

I'm a Reagan fan also. What he did to cause the fall of the Soviet Union was EPIC!

NWGUY Iraqi's new national mascott is the Sloth! LOL

if what Frank is saying about the GCC wanting a unified currency is true, it makes you wander what their exchange rate would be. Even if it was $.25 to the US dollar, for Iraq to say no to it must mean they want a lot more bang for their buck. 25 cents is so much more buying power than they currently have.. Saudi Arabia, United Arab Emirates, and Quatar are in the neighborhood of a quarter to the USD, but the other 3 range from 2.60 to 3.30. I can't imagine the 3 countries coming down from that exchange rate. It still begs to question why Iraq would turn down even the higher rates of exchange. What do they hope for in future exchanges?

I remember how convinced they were last year that it would happen by the end of June.

My guess is its all about whether they are a country that exports enough to keep a low exchange rate or whether it is more profitable with all the goods they import in to have an exchange rate that has more purchasing power. China and Vietnam have opted for the lower exchange rate because most of their income comes from exporting goods.

The question is "Will it be a controlled float or will it fly crazy like Kuwait's did?"

Maybe Kazemi is set on bringing the rate out at $ 1.45 after he drops the zeros. That would be better for us.

Bob, I would love to trade my 25,000 denomination notes in for 250 ones. How do I go about doing it? Would it matter the amount I have? I think I would have to have some mighty big suitcases!

I thought it was interesting the People that were going to be on the committee for studying the changing of the exchange rate. Ministers from housing, construction, public works, etc...These are all areas that have been adversely affected by the exchange rate going higher because all their supplies have dramatically increased in price. Maybe the committee was formed to show them How advantageous it would be to delete the zeros from the exchange rate. And how much more they could use for redevelopment if building supplies were much more affordable.

All the negotiations between Erbil and Baghdad with the 2021 budget seems to be hashing out some of the contention that also has kept them from agreeing on the HCL. Perhaps with the budget settled they now have an agreement reached for the HCL and can bring it back in for a vote.