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Special Inspector General for Iraq Reconstruction - Dinar below $1

TrinityeXchange
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TrinityeXchange Newbie

TrinityeXchange

Posted
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This is incredible news brought to our attention by Breitling in his email bulletin! The SIGIR posted their quarterly report and placed it in good ole black and white that the dinar is to see a value slightly less than $1 usd after its currency reform project which has been postponed as we all know. Here is the link. Type in page 94 to jump to that page and read the first two paragraphs in the top right corner. WOW! I took a snapshot to for you all as well and highlighted the information. Why did they let the cat out of the bag like this is beyond me but there it is in good ole black and white!

DinarNear1Dollar.jpg

Edited by TrinityeXchange
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jeepguy Mentor

jeepguy

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and if they can get this number too the exchange department in the c.b.i. and post this rate as a --- new trade rate for dinar that would be very cool ,,,, september getting closer every day nice post trinity

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waterman13 Newbie

waterman13

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I'm reading this as not good. It states that in April 2012, the CoM postponed indefinitely ....... that would have made the Dinar's value slightly less than a $1. Gives us an idea of what they were thinking of making the value worth, and that they were going to revalue the Dinar, but I don't like the postponed indefinitely part.

WM13

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KamelKeeper Newbie

KamelKeeper

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Awesome news!!!

April 30, 2012 is old news though. We're back on track as you can see from reading the recent news.

You are right. It is not "news". It is a quarterly status report generated by the United States government and submitted to the US Congress, so an exact date is not important in this situation. it is the content that has the importance and validity, and the entity that produced it.

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Halo9678 Newbie

Halo9678

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IMHO,

While this is a GOOD thing, I don't think this will achieve the de-dollarization effort put forth by the CBI. Granted, it will make the dinar competitive BUT, this would still leave the dollar as the dominant currency in Iraq. However, this is a GREAT first step to draw the larger denoms in THEN do anoher RV to something more competitive, say 1.25:1.

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starlight Newbie

starlight

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This is not indicating a re-valuation, it is a simple statement of fact as to the value of a Dinar with three zero's removed.

According to the SIGIR Quarterly Report of July 2010 the three zeros will be removed from the nominal value (.86):

Page 107 of 172

CBI has announced that it intends to implement

a long-planned redenomination of the Iraqi

dinar by eliminating three zeros from the nominal

value of bank notes.

http://www.sigir.mil/files/quarterlyreports/July2010/Report_-_July_2010.pdf

You are right. It is not "news". It is a quarterly status report generated by the United States government and submitted to the US Congress, so an exact date is not important in this situation. it is the content that has the importance and validity, and the entity that produced it.

Sorry I didn't make myself clear enough when I said old news. In the April 30 timeframe the old news was the Cabinet put a stop to the project, but recent new news has stated the project is still moving forward and the Cabinet has no say in it.

When I said awesome news I meant the rate. That's as close to official as you can get imo. :)

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zigmeister Newbie

zigmeister

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According to the SIGIR Quarterly Report of July 2010 the three zeros will be removed from the nominal value (.86):

Page 107 of 172

CBI has announced that it intends to implement

a long-planned redenomination of the Iraqi

dinar by eliminating three zeros from the nominal

value of bank notes.

http://www.sigir.mil/files/quarterlyreports/July2010/Report_-_July_2010.pdf

Redenomination, they referred to it as a currency change. If they were referring to a redenomination, why did they not state this? Interesting don't you think?

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KamelKeeper Newbie

KamelKeeper

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According to the SIGIR Quarterly Report of July 2010 the three zeros will be removed from the nominal value (.86):

Page 107 of 172

CBI has announced that it intends to implement

a long-planned redenomination of the Iraqi

dinar by eliminating three zeros from the nominal

value of bank notes.

http://www.sigir.mil/files/quarterlyreports/July2010/Report_-_July_2010.pdf

Sorry I didn't make myself clear enough when I said old news. In the April 30 timeframe the old news was the Cabinet put a stop to the project, but recent new news has stated the project is still moving forward and the Cabinet has no say in it.

When I said awesome news I meant the rate. That's as close to official as you can get imo. :)

Boy, I agree with you. It is nice to see in black and white and English! B)

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DinarDana Newbie

DinarDana

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Wow this is an significant report and I am quite pleased. As of late I have been completely discouraged, however this refreshes my mind as to why I got involved in the first place. Official documents like this is what I need to see to feel encouraged. In fact this documents what I have read in the Iraqi Plan.

If the currency is restructured and the foreign exchange rate is .86 we have a chance. For the investment I made it is worth seeing this to the end.

Edited by DinarDana
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unirod Apprentice

unirod

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Do I really need to say anything?? The ONLY good part of this, is the talk about the RD being put on hold indefinately.....

And nominal value is not the exchange rate guys....its the face value....

Keep,

I have always wanted someone to explain the difference so that I could understand the significance.

Thanks

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