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IQD exchange rate soars against USD


RVWITHME
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OK All, this is not the huge move yet, but any movement in
the rate indicates the RV may really be starting to move.

Looks like maybe a float, but just bring it on...

 

So hold on to those Dinars like a rope on a wild horse!



After Iraq emerged from provisions of CH VII, IQD exchange
rate soars against USD;
Anticipates continues rise with confidence
Posted: June 28, 2013 in Iraqi Dinar/Politics    
Tags: Chapter, Chapter VII, Chap

29-06-2013

Hours after Iraq concludes from the provisions of Chapter VII,
the exchange rate of the Iraqi dinar soared against the dollar.

As a member of the Association of private banks Saif Al hilfi,
“Iraqi dinar exchange rate against the dollar has seen a return to
normal levels after Iraq output resolution of the provisions of Chapter VII.”

John said in an interview for (News Centre for the Iraqi media network):
“the rate of the dinar against the dollar stabilized at 1210 dinars per dollar,”
pointing out that the coming days would witness continuous rise of the Iraqi dinar value.

and John explained that override the provisions of Chapter VII a huge benefit,
and that everyone has confidence in Iraqi dinar, Iraq has large financial reserves.

The next phase will witness a new investment trend is popular companies and
investors and citizens to invest in the Iraqi dinar, stressing that the economic scene
readings indicate a significant demand for the dinar will contribute to raising the price
paid to foreign currencies.
 

 

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Maybe I dont understand, but if the number of iqd per $ is higher, isn't that less value for the dinar? I mean if 1usd bought 1166 iqd and now you get 1200 for the same price . . .

Maybe I'm not getting it. Someone help me please if I'm seeing it wrong. Thanks

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Maybe I dont understand, but if the number of iqd per $ is higher, isn't that less value for the dinar? I mean if 1usd bought 1166 iqd and now you get 1200 for the same price . . .

Maybe I'm not getting it. Someone help me please if I'm seeing it wrong. Thanks

 The article was discussing the street rate (not the CBI rate). The street rate was a lot lower (IE: +/- 1275) now it has strengthened back to around 1200.

This is a great sign as confidence return to the people who will only sell  1200 IQD's to get 1 USD whereas they were willing to give away 1275 IQD's to get 1 USD just a week ago.

As Kinshin7 so kindly pointed out, it's that 3rd paragraph you should really be happy about.

Hope that helps.

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I am waiting for the news. praying There is a big bright GREEN LIGHT BY 11 AM TOMORROW.

Just curious....why 11am? That would be 6pm in Iraq on their Saturday evening when the bank is closed. I would think the earliest anything would happen would be our Saturday night (Iraq's Sunday).

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Just curious....why 11am? That would be 6pm in Iraq on their Saturday evening when the bank is closed. I would think the earliest anything would happen would be our Saturday night (Iraq's Sunday).

Ahh Don't Worry It Was A Newbie With Her First Post - She Probably Won't Even Be Up Before The Crack Of Noon !

:D:D:D

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OK All, this is not the huge move yet, but any movement in

the rate indicates the RV may really be starting to move.

Looks like maybe a float, but just bring it on...

 

So hold on to those Dinars like a rope on a wild horse!

After Iraq emerged from provisions of CH VII, IQD exchange

rate soars against USD;

Anticipates continues rise with confidence

Posted: June 28, 2013 in Iraqi Dinar/Politics    

Tags: Chapter, Chapter VII, Chap

29-06-2013

Hours after Iraq concludes from the provisions of Chapter VII,

the exchange rate of the Iraqi dinar soared against the dollar.

As a member of the Association of private banks Saif Al hilfi,

“Iraqi dinar exchange rate against the dollar has seen a return to

normal levels after Iraq output resolution of the provisions of Chapter VII.”

John said in an interview for (News Centre for the Iraqi media network):

“the rate of the dinar against the dollar stabilized at 1210 dinars per dollar,”

pointing out that the coming days would witness continuous rise of the Iraqi dinar value.

and John explained that override the provisions of Chapter VII a huge benefit,

and that everyone has confidence in Iraqi dinar, Iraq has large financial reserves.

The next phase will witness a new investment trend is popular companies and

investors and citizens to invest in the Iraqi dinar, stressing that the economic scene

readings indicate a significant demand for the dinar will contribute to raising the price

paid to foreign currencies.

 

Just want to point out that  at 1210 the dinar is soaring the wrong way ... it would be loosing value.....just saying

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Just want to point out that  at 1210 the dinar is soaring the wrong way ... it would be loosing value.....just saying

 

Correct, that's why it makes no sense for people to say it is gaining value. If the dinar went from 1166 to say...1000 per 1 usd, then we would be getting more 'bang for our buck'. We'll wait and see what happens in the days to follow. :rocking-chair:  :soon:

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