SexyDinar

These conditions have no bearing on whether the CBI or Government will revalue the currency. PM wants to rebuild the country and put basic services in place which were wrecked during the war. Then maybe a few years down the line the country will get those investors in to the country but also bear in mind the higher the currency rate the less likely there will be investors!

Will they not be able to do this with the USD they buy on a daily basis?

The CBI are going to drag this out as long as possible to persuade foreign investors to bailout of the currency that's a fact. I can see the RV not happening until probably August or even September time. I know they have to make a payment to the IMF on or before the 1st April but this could be easily paid from reserves which they already hold from the daily auctions. 1st June is also mentioned as a date for them getting released from chapter 7 but part of that release is a stable currency it doesn't mean that they have to revalue the currency but do exactly what the CBI have stated a managed float. What do you think.

Nobody knows but worse case you treble your money which is a good investment!

Oh, its Friday again which has happened for the last 6 weeks!!! I predict a riot............on Monday, Tuesday, Wednesday, Thursday, FRIDAY, Saturday and we will sleep on Sunday. YAWN.........I think I just woke-up oh it's MONDAY!!!!!

I think Warka Bank are the biggest private bank in Iraq and have recently issued more capital within their share structure which is a good indicator that they will be around longterm. I have already emailed Mr I. and he said all you need to do is send a transfer instruction to wire the funds out of iraq. Do you have internet access? If so, all you need to do is do an internal transfer from IQD to USD when the RV hits. Also, they have their accounts with a lot of retail banks around the world so I would say that they don't hold very much of their cash in Iraq but have it invested themselves with retail banks around the world.

US President Barack Obama has hailed a "milestone" in the history of Iraq, as it completed its second parliamentary election since the 2003 invasion. He praised the courage of voters who turned out despite bomb and mortar attacks that killed at least 35 people. Two buildings were destroyed in Baghdad, while there were also attacks in Mosul, Falluja, Baquba and Samarra. "Today's voting makes it clear that the future of Iraq belongs to the people of Iraq," Mr Obama said. "Today, in the face of violence from those who would only destroy, Iraqis took a step forward in the hard work of building up their country." Mr Obama repeated his vow to withdraw US combat troops from Iraq by the end of August, and all the remaining US forces by the end of next year. huge security operation was mounted, involving more than 500,000 Iraqi security personnel. The border with Iran was closed, thousands of troops were deployed, and vehicles were banned from roads. Still, the first wave of attacks came early in the day. In Baghdad, dozens of mortar shells rained down on several neighbourhoods. Other cities also came under mortar and grenade attack. And the worst damage was caused by bomb attacks that destroyed two blocks of flats in the capital. Twenty-five people were killed in one of the blasts in the north of the city. The BBC's world affairs editor John Simpson described how rescue workers removed the rubble with their hands and basic equipment, and how they managed to bring one woman out alive. Role for Sunnis? Iraqi Prime Minister Nouri Maliki said the attacks "are only noise to impress voters - but Iraqis are a people who love challenges and you will see that this will not damage their morale". He had called on voters to turn out in large numbers, saying participation would boost democracy. "I urge all politicians to accept the results," he said. "He who wins today may lose tomorrow and he who loses today may win tomorrow." But one of his main rivals, Iyad Allawi, has already criticised election organisers, accusing them of lax procedures, and demanded an investigation by the new parliament. "There was major confusion inside and outside Iraq in the voting centres and that leaves a question mark over the [electoral commission's] role," said Mr Allawi. Correspondents say Prime Minister Maliki looks likely to retain power at the head of his Shia-led coalition. The key will be whether Mr Maliki can bring Iraq's embittered Sunni minority into his government and make them feel they have a stake in Iraq's political future again. Queues were reported at polling stations in Sunni areas of the country, where many people in 2005 decided not to vote. Candidates from 86 factions were vying for 325 parliamentary seats, with some 19 million Iraqis eligible to vote. Some 50,000 polling stations were in operation across the country. The electoral commission said despite the violence, only two of them had to be closed for short periods due to security concerns. In Azamiyah in northern Baghdad, Walid Abid, 40, cast his vote to the crumple of mortars exploding not far away. "I am not scared and I am not going to stay put at home," said the father-of-two. "Until when? We need to change things. If I stay home and not come to vote, Azamiyah will get worse," Associated Press news agency quoted him as saying. http://news.bbc.co.uk/1/hi/world/middle_east/8554772.stm

I think its about the amount of currency in circulation but i don't really know either.

Here is the original story:- http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:22482723~menuPK:34463~pagePK:34370~piPK:34424~theSitePK:4607,00.html

What will happen is that if you are wiring your funds from a bank account in Iraq it will take on average 4 - 5 business days for the transfer and then you have to add days for the administration so 10 working days is not far wrong. In relation to cashing your currency directly with the bank now this is a different matter all together. I have been told that it can take up to 6 weeks as they will have to send currency to Iraq and on that particular day that they process it will be the rate you will actually get.

So I have been to the another site site and he suggests that their would not be a revaluation of the currency before the elections. He also states that the reduction in the salaries of Iraq's is a load of rubbish and doesn't forsee a revaluation for ages!! I am go on holiday to forget about this investment until I hear it on the news or plastered all other the newspapers.

Well said Brianlpn you have just written what most people have been thinking for ages. You should only spend what you can afford to lose or do without for a long period of time and yes someday it might happen and lots of people will have smiles on their faces.

I have just tried to get online to check my account but the online system is not connecting and just falling over. However, their website is fully operational, does anyone think this is weird? If someone else has a Warka account with online access can you check for me.

So this means if the RV doesn't happen on or around the 1st March then we could be waiting possibly years for this to happen! Oh well, I knew it was a gamble and to be fair have lost all faith in this Iraq government actually doing anything. In my mind I think this Dinar hype was just to get foreign investors hooked line and sinker on this roller coaster. I don't believe the Iraq government have ever had an RV in mind at all.

I don't really understand what effect this has on an RV of the currency?

I am right there with you if they RV and don't LOP the currency as others have suggested I would cash-in whatever they open-up with ASAP! There is no need to be greedy make a profit and jump the ship!

I just give-up from one day to the next its different. I am just going to check once a week now to see whats going on it all just to much!!!

Possum is there not anybody on the ground in Iraq that can confirm what is actually happening there! I have recently become unemployed due to no fault of my own and this RV has had more significants than ever before but it is so dishearting to hear the good reports followed by the bad. I have never been that religious before but lately I have been praying every day that we hear the RV has happened and we can now get-off this Dinar Roller Coaster as I feel sick!!! Now join me in our Dinar Prayer:- Our Dinar, which art in Iraq, Let's be wealthy be thy name; thy wealth come in abundance; thy will be done with this Roller Coaster, in pocket as it is in our bank. Give us this day our pride and joy. And forgive us our doubts, as we forgive the pumpers that messed with our minds. And lead us not into temptation buying a ferrari; but deliver us from poverty to riches. For thine is the kingdom of the rich, the power, and the spending glory, for ever and ever. Amen.

I was just looking at how and when Kuwait revalued there currency on the net and there doesn't seem to be any structure to when it happened. For instance it was revalued at 4.14pm one day of the week then 5.15pm another day of the week and so on.

The best way to check is turn of the light in your room so its dark then with a lighter just burn the corner of the note if it doesn't go up in flames its a FAKE!

I must be missing something what does this mean? That the US military are now being paid in Dinar? I don't get why this makes any difference.

I have been reading quite a few posts and I am now totally confused. I have all my money in a Warka account. My understanding is that the so cold LOP in the local currency would happen the backend of 2010 but my funds held with Warka would not be effected by this as they are classed as international accounts. Also the main men in Iraq will have there own bank accounts stuffed full of Dinar and I can't see them getting chafted! Can anyone confirm what I am saying or in fact will the funds held there be affected.

So to clarify if you hold say 1,000,000 Dinar and it revalues to say $1.00 and the remove the 000's what will be the outcome of the 1,000,000 dinar? $1000.00 ? or am I missing something. If this is the case then its all been a waste of time.

If that's the case its been a complete waste of time. I can't see all the governments around the world holding 100 of millions of this currency allowing that to happen!

I think if you are going to be in the millions of dollars profit then you should be looking at jurisdication which don't have capital gains tax or low tax ie. TAX HAVENS!! See list below with explanations:- http://www.zyra.org.uk/taxhaven.htm