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Zebra0101
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Haven't seen it this low fir long time on XE....

Might just be a fluke...

Picture of XE rate didn't load up. It was 1116.90.

 

 

I see the same thing .... it's going the right direction but still a long way from where we need it to be.

 

Link to rate page

 

Link to chart IQD/USD

 

seems to have happened around 19:40 UTC

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if Iraq decides to accept the agreements under article 8

They may not ever want to

Has Iraq ever agreed to article 8

Has the dinar ever been internationally acceptable or traded

I don't think it has or was

It has always been a local currency and they have always used the dollar for foriegn debts and trade

I hope Iraq does accept the article 8 agreement of the IMF and moves to a market economy and the dinar is a tradable currency

That will make it more valuable

This 50 dinar movement is not something I've seen before

Its held all

Day too

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if Iraq decides to accept the agreements under article 8

They may not ever want to

Has Iraq ever agreed to article 8

Has the dinar ever been internationally acceptable or traded

I don't think it has or was

It has always been a local currency and they have always used the dollar for foriegn debts and trade

I hope Iraq does accept the article 8 agreement of the IMF and moves to a market economy and the dinar is a tradable currency

That will make it more valuable

This 50 dinar movement is not something I've seen before

Its held all

Day too

 

 

I do see your point but I would say it could be argued that the fact that the current dinar was bought and sold in banking institutions throughout the US and Europe that it has already been traded and accepted internationally.

 

think about it, if they were to say that selling dinar through banks in the US and Europe didn't constitute a type of international trade and acceptance then why exactly did the banks sell it to us ......... they took our hard earned, legal, internationally acceptable cash (dollars/pounds/euros etc) and gave us what exactly..... toilet paper.

 

No, I believe they gave us internationally acceptable currency ......... if they didn't, they could find themselves in court with a few million cases against them.

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I do see your point but I would say it could be argued that the fact that the current dinar was bought and sold in banking institutions throughout the US and Europe that it has already been traded and accepted internationally.

 

think about it, if they were to say that selling dinar through banks in the US and Europe didn't constitute a type of international trade and acceptance then why exactly did the banks sell it to us ......... they took our hard earned, legal, internationally acceptable cash (dollars/pounds/euros etc) and gave us what exactly..... toilet paper.

 

No, I believe they gave us internationally acceptable currency ......... if they didn't, they could find themselves in court with a few million cases against them.

Interesting point.... which leads me to wonder if those speaking about it being internationally traded in their own minds make the distinction of it being traded as on the XE, versus exchanged/traded at the local bank or exchange facility.... Indeed right now today you can exchange/ trade your dinar for other currencies all day long (at todays rate.. but you can exchange / trade it nonetheless)... hummmmmm...... thanks Machine!!.

Edited by Rayzur
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I've been checking it every day for 3 years and haven't seen it this way  Currency Rates

Base currency is IQD. Rates as of 2014-06-13 19:09:00 UTC (GMT).

 

Top 10 Currencies   By popularity

   

Currency Unit

IQD per Unit

Units per IQD

   

USD United States Dollars

1,116.9000000000

0.0008953353

   

EUR Euro

1,511.6667442752

0.0006615215

   

GBP United Kingdom Pounds

1,895.1930985398

0.0005276507

   

CAD Canada Dollars

1,028.7744475745

0.0009720304

   

AUD Australia Dollars

1,049.7084223787

0.0009526455

   

JPY Japan Yen

10.9475372922

0.0913447448

   

INR India Rupees

18.7070073334

0.0534559046

   

NZD New Zealand Dollars

967.6557521079

0.0010334254

   

CHF Switzerland Francs

1,240.4471708775

0.0008061609

   

ZAR South Africa Rand

104.5574800189

0.0095641173

 
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Thanks Zebra0101....Yep, I quit years ago trying to convey this very concept. Back in late 03' when I purchased mine in country, Dad, may he rest in peace, informed me he could purchase Iraqi dinar all day long. Dad dealt mostly in precious metals but checked into the IQD when I ask him for his advise. I was informed to run from the Saddem dinars and that at that time the new dinars were not suppose to be available, being at the right place at the right time has it's advantages.

Back to the topic; Bush had not signed the e/o clearing us to purchase the dinar. Dad said he could legally purchase over there but it wasn't out at that time. He said and I stand to it, that there are IMF laws and rules for trading currency and that if the registered exchanges dealt and sold the IQD then it had to be legal to purchase it. With that being said, I related that, to my demise, to this forum later in years. They were on me worse than a duck on a Junebug...

Maybe yall can come over better than I did, I'll throw something out there for information and if I get the response I did back then...end of discussion. Just thought I'd give yall the heads up on my experience on this angle...I really didn't want to write an article on it...now I got to make some more coffee...who needs a cup.... 

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You can trade horse manure too you just need a buyer

To trade currency is on demand

Funny we agree to pay a fee for dinar its so far away to go get it ourselves

I was told to support the mission in Iraq we should buy their currency

Because it gives the currency dollars to back it up and some day it would be worth more money and you could sell it back

Well today it's worth more and I could sell it back and make a small profit

But the person who told me this told me it would revalue itself in 2016

I'm thinking 11 years

So I wasn't going to dump all my money into something that 11 years later would pay me back

So I only bought a small amount to stick in my safety deposit box

The guy didn't have dinars to sell me he didn't tell me to go to any dealer

I went home later and a couple weeks later is when I decided to look it up on the internet and find a place to buy them

I saw cheaper places to buy dinar but I didn't trust them

Then I saw one and I guess I liked the way they presented themselves

So I bought some

No tony TNT or okie even existed yet

Their were no chat rooms

No fake screen names fights

No people pretending they had more intel then the next guy

My intel is better than your intel

Look at how good my story is compared to yours

He can't even spell he can't know anything

The charactor assignations all over status

It got to be so rediculous that no one could believe any of them

I think some media outlets in Iraq and other places jumped on board

These stories we have heard over the past few years are for the most part made up

Get used to the idea that we are not going to be getting any where near a dollar for each dinar that we hold

Nothing close to that

I'd say if we were to get 1/3 of a penny per dinar

I will sell

Ye $3333.33 per million I'd be gone

But I'm not out yet no matter what

I will wait the next two years out possibly all the way thru 2016 to the beginning of 2017 if necessary

So no matter how bad this looks you can think of that nut dontlop still holding on to his dinar

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To trade a currency on demand is what article 8 of the IMF is all about

They agree to this under article 8

https://www.imf.org/external/pubs/ft/sd/index.asp?decision=1034-(60/27)

External exchange of their currency

1. Article VIII provides in Sections 2 and 3 that members shall not impose or engage in certain measures, namely restrictions on the making of payments and transfers for current international transactions, discriminatory currency arrangements, or multiple currency practices, without the approval of the Fund. The guiding principle in ascertaining whether a measure is a restriction on payments and transfers for current transactions under Article VIII, Section 2, is whether it involves a direct governmental limitation on the availability or use of exchange as such. Members in doubt as to whether any of their measures do or do not fall under Article VIII may wish to consult the Fund thereon.

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ARTICLES VIII AND XIV

There has been in recent years a substantial improvement in the balance of payments and the reserve positions of a number of Fund members which has led to important and widespread moves to the external convertibility of many currencies. Most international transactions are now carried on with convertible currencies, and many countries have progressed far with the removal of restrictions on payments. In consequence of these developments, it seems likely that a number of members of the Fund either have reached or are nearing a position in which they can consider the feasibility of formally accepting the obligations of Article VIII, Sections 2, 3, and 4. Previous decisions taken by the Fund, such as those on multiple currency practices, bilateral arrangements, discriminatory restrictions maintained for balance of payments purposes, and payments restrictions for security reasons, indicate the Fund’s attitude on these matters. The present decision has been adopted as an additional guide to members in pursuance of the purposes of the Fund as set forth in Article I of the Articles of Agreement.

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I do see your point but I would say it could be argued that the fact that the current dinar was bought and sold in banking institutions throughout the US and Europe that it has already been traded and accepted internationally.

 

think about it, if they were to say that selling dinar through banks in the US and Europe didn't constitute a type of international trade and acceptance then why exactly did the banks sell it to us ......... they took our hard earned, legal, internationally acceptable cash (dollars/pounds/euros etc) and gave us what exactly..... toilet paper.

 

No, I believe they gave us internationally acceptable currency ......... if they didn't, they could find themselves in court with a few million cases against them.

In a perfect world...Yes....But banks did dirty deeds in the past already.....Not exactly Ethic champions....We'll see....

Edited by umbertino
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