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Dinar Rumor News from an i raqi vendor

retep2010

By retep2010,
in Dinar Rumors

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retep2010 Newbie

retep2010

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ok a co-worker of ours here in Baghdad just told me that he was talking to an Iraqi Vendor . not a truck driver But a Vendor, now this guys are Buisness men... and he asked him whats going on with the RV. To his surprise the Iraqi Vendor told him that as soon as the new government ( Parliment) settles in.... the first thing as we all Pray for is the RV. and the Iraqi Vendor told him that it will be at .23 CENTS. i asked my buddy hey are you sure? and he said Yup thats what the Iraqi vendor told him.... the reason i said to his surprise is just that alot of this guys dont have an idea of a rate or a date ... and this guy said with all confidence that it will RV at .23 cents ...... i told my buddy to keep picking the Iraqi Vendor Brain ... you know to ask his Iraqies buisness Partners...... for more intell ... Guys take it for whats its worth all i know is that i shared this with the rest of the Dinard holders here in the VBC camp... so hey .23 cents X 1Mill = $230.000.00 Green ones .. as soon as i hear anything else i will let you all Dinarsoarus Freaks know ...

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jlldrs Newbie

jlldrs

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Thanks for the info. It is always nice to get news or rumors directly from people who are currently in Iraq. .23 cents would be great, but the problem that I have always had with that is if the RV comes out that low, would LARGE investors come in and start buying up alot of the currency hoping for it to eventually increase to 2 or 3 dollars? Any thoughts?

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retep2010 Newbie

retep2010

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what if .23 cents is to get alot of people to cash in and with in a couple of months Iraq Jacks it up .. think about it will you cash in or wait ... think about it......like i said earlier my buddy will talk to him in the next day or so .. and i have asked my Buddy if i can meet this Iraqi Vendor ..... and he said not a problem he will call me on the Land Line as soon as he Arrives at the gate and is escorded to the Site.......

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judydinar Newbie

judydinar

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If that happened there would be too much speculation. It has to happen at a much higher rate. It only makes sense. Even if it happens at $1 and the other currencies are much higher there will be a lot of speculation. That would also create problems. I say at least $2.00 or higher.

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Mongo Newbie

Mongo

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ok a co-worker of ours here in Baghdad just told me that he was talking to an Iraqi Vendor . not a truck driver But a Vendor, now this guys are Buisness men... and he asked him whats going on with the RV. To his surprise the Iraqi Vendor told him that as soon as the new government ( Parliment) settles in.... the first thing as we all Pray for is the RV. and the Iraqi Vendor told him that it will be at .23 CENTS. i asked my buddy hey are you sure? and he said Yup thats what the Iraqi vendor told him.... the reason i said to his surprise is just that alot of this guys dont have an idea of a rate or a date ... and this guy said with all confidence that it will RV at .23 cents ...... i told my buddy to keep picking the Iraqi Vendor Brain ... you know to ask his Iraqies buisness Partners...... for more intell ... Guys take it for whats its worth all i know is that i shared this with the rest of the Dinard holders here in the VBC camp... so hey .23 cents X 1Mill = $230.000.00 Green ones .. as soon as i hear anything else i will let you all Dinarsoarus Freaks know ...

Let's see.......Your sure because your buddy is sure.......Hmmmm.......... Now I'm sure the Iraqi vendor is telling his friends how gullable these americans... ha ha ha... can be. He didn't by any chance try to sell you a lawnmower did he?

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Marketplace Leaders Newbie

Marketplace Leaders

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I don't know if that was just to get people to buy more dinar during this wait -and-see time, like this was again the old pumper stuff I would read from time to time, however I choose not to believe anything less than the euro, because again that is the only real proof I have seen, I will never believe, it was human error when the rate of 1.49 showed up on forex and mataf it was on there for at least an hour or more before it disappeared, so whatever it turns out to be I will just have to live with my choice, I won't buy more!!!!!!

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ReachingHigher Newbie

ReachingHigher

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Color me confused, but I think there are those who get the numbers muddled up. If the RV comes in at. 23 cents thismeans 1 dinar would buy .23 cents US. That means (stating it another way) the RV would be around 4.25 dinars = $1 US. Saudi Arabia is around 4 Saudi riyals to $1 US. which means 1 Saudi riyal = about .25 cents US. I personally find it less confusing if we say the RV would be at ie: 4 dinars to the dollar. This is MUCH more clear to me.

Kuwaiti dinars are at around 0.29 Kuwaiti dinar high against the dollar. This means $1 USD will only buy 0.29 of one Kuwaiti dinar. SO you would need $3.45 USD to buy 1 Kuwaiti dinar.

But if you see that 0.29 it can be confusing because it is higher than a 1:1 ratio against the USD. BUT when someone says it will RV at .23 cents....they are talking about lower than a 1:1 ratio against the USD. I personally can't believe the RV would come in at anywhere near the Kuwaiti dinar rate.

Hope this helps some newbies to better understand the numbers.

If we look at the exchange rates of the surrounding countries in the Middle East:

Saudi Arabia is 3.75 riyals = $1USD (= 0.27)

Qatar Rial is 3.64 = $1USD (= 0.27)

Isreal sheqel is 3.77 = $1.USD (=0.26)

Bahrain dinar is 0.37 will buy $2.65 USD

Different people state the numbers in different ways which makes it more of a muddle.

Oh - and my exchange rates may be off a bit - forgive me that as I was just trying to give a clear example vs. being exact on exchange rates exactly today.

Peace!

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chuksan Newbie

chuksan

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Well, if you did yoiur math corrrectly that is figuring what was stated as 1 IQD = .23 USD. This would actually be approx $4.18 USD to 1 IQD. Right now Kuwait is at .289 USD. Take your 1.00 USD

and divide it by 4.18 and see what you come up with.

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Phoenix Newbie

Phoenix

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If it is trading at .23 the currency traders will suck their bank dry , GO HI OR STAY HOME!!!

Fact: Saudi Arabia has been at .27 for decades.

The Saudi banks have not been "sucked dry".

Also....you do know that Japan is one of the worlds major economies and is a full member of the IMF the WTO and every other major world economic system and the Japanese Yen is even part of the IMF SDR basket.

And what is the rate of the Japanese Yen?

One penny.

1 Japanese Yen = .01 cent.

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