Rise in the dollar exchange rate in Iraq to 1250 dinars

[yota691]

Rise in the dollar exchange rate in Iraq to 1250 dinars

History of edits:: 2016/1/12 14:04 • 70 visits readable

[baghdad-where] 
has seen the currency markets and banking offices in Iraq today is a remarkable increase the price of the US dollar against the Iraqi dinar. 
Per dollar and reached 1250 dinars [125 000 dinars for one hundred dollars.

The price of $ 100 reached today, the markets in the Kurdistan region, 124 000 dinars. 
The Aldozlar exchange rates in the past few days, ranging between 1222 and 1223 dinars to the dollar [122-123 thousand dinars for one hundred dollars. is over

 

[Flash101]

Thnx My Math maybe bad but doesn't that come out to $.50 per Plz correct me if I'm wrong.

 

101

[Zcountess]

NO THIS IS NOT 50 ........ increase the price of the US dollar against the Iraqi dinar. 

Per dollar and reached 1250 dinars [125 000 dinars for one hundred dollars. 

Edited January 12, 2016 by Zcountess

[stealthwarrior]

It's going the wrong way.

[WheresmyRV?]

1250 is the street rate and it is definitely going the wrong way.

[Texstorm]

I'm just glad to see it moving, that means to me that something is going to happen and it could just as easy go our way ! 

[salt-life]

1250 is the street rate and it is definitely going the wrong way.

Totally agree............with all the talk of  the exchange rate it is putting a huge amount of pressure on the GOI and CBI......something has to give......get rid  of corruption, auctions, impliment the budget, go single window, tarriffs and pop the exchange rate to 1-1....will work fine for us all

Edited January 12, 2016 by salt-life

[olivesman]

CHILL. CBI site still says 1180.

Nuff said.

(Though it could be the wave receding before the CRASH...)

[Boozer]

What goes Down must come Up

[Laid Back]

At that rate lots of people getting rid of dinars and buying dollars

CBI continues reducing the note count.

Dollarize... Increase exchange rate... Dedollarize

[calkid11]

Thank you Yota

[Synopsis]

I agree with Laid Back.  To me, this indicates an increasing push to pull all of the old dinars off the streets and replace them with dollars.  With the slowly declining exchange rate, the locals may want to be rid of all the old dinars sooner than later.  I suspect Iraq will RI/RV when the desired amount of old notes are pulled in and simultaneously introduce the new and lower denomination dinars.  The increase in value of the dinar will then help pull all the dollars out of circulation (will take more dollars to get a dinar) so the locals will want to rid themselves of the US dollars as soon as possible.

[Zebra0101]

It's 1089.99 on my XE currency app.

[Synopsis]

Zebra0101 - I have been tracking the IQD/USD exchange rate for some time on xe.com.

 

Lately, the high has been 1,106.37 IQD = 1 USD.  The low today I saw was 1,089.00 IQD = 1 USD.  Looks like the low has been slowly reduced by 1.00 IQD each day (approximately) on xe.com.

 

An approximate 2% spread on xe.com implies a high of 1,106.37 IQD = 1 USD and a low of 1,084.24 IQD = 1 USD.  Maybe of interest, the low of 1,084.00 IQD = 1 USD could occur on or about the 19th of January when the Iraqi Parliament is back in session after their holiday.

 

Not sure if this means anything, but here's hoping that January 19 or there abouts will be the day we have all been waiting for!

[Laid Back]

I agree with Laid Back.  To me, this indicates an increasing push to pull all of the old dinars off the streets and replace them with dollars.  With the slowly declining exchange rate, the locals may want to be rid of all the old dinars sooner than later.  I suspect Iraq will RI/RV when the desired amount of old notes are pulled in and simultaneously introduce the new and lower denomination dinars.  The increase in value of the dinar will then help pull all the dollars out of circulation (will take more dollars to get a dinar) so the locals will want to rid themselves of the US dollars as soon as possible.

Agree with you Synopsis. I see this as a CBI strategy to reduce the note count.

[Theseus]

Based on the IMF report, if a RV were to occur, there would have to be at minimum two quarterly reviews. The first review would happen after March 2016. The second would happen after June 2016. So any chance of RV wouldn't happen until at least October 2016, provided no further reviews are needed. So basically an RV will not transpire this year. The IMF is basing the rate at 1,180 ID per USD on the CBI rate set November 10, 2015. This will be the program rate for the ID until after the IMF has completed all their reviews. Sit back, relax and remain vigilant until October 2016 when, once again, they have to deal with the budget. Hopefully they will meet all the goals set forth by the IMF and can at least RV sometime in 2017. This is all in Iraq's hands and we just need to watch wait and see.

Al other rates are bogus.

[TennesseeCherokee]

Based on the IMF report, if a RV were to occur, there would have to be at minimum two quarterly reviews. The first review would happen after March 2016. The second would happen after June 2016. So any chance of RV wouldn't happen until at least October 2016, provided no further reviews are needed. So basically an RV will not transpire this year. The IMF is basing the rate at 1,180 ID per USD on the CBI rate set November 10, 2015. This will be the program rate for the ID until after the IMF has completed all their reviews. Sit back, relax and remain vigilant until October 2016 when, once again, they have to deal with the budget. Hopefully they will meet all the goals set forth by the IMF and can at least RV sometime in 2017. This is all in Iraq's hands and we just need to watch wait and see.

Al other rates are bogus.

We all are hoping for a change before October.

Those of us who have been here for years are used to waiting.

It is what it is and will happen when they're ready and all we can do is hang in there.

[MyLadiesDaddy]

Based on the IMF report, if a RV were to occur, there would have to be at minimum two quarterly reviews. The first review would happen after March 2016. The second would happen after June 2016. So any chance of RV wouldn't happen until at least October 2016, provided no further reviews are needed. So basically an RV will not transpire this year. The IMF is basing the rate at 1,180 ID per USD on the CBI rate set November 10, 2015. This will be the program rate for the ID until after the IMF has completed all their reviews. Sit back, relax and remain vigilant until October 2016 when, once again, they have to deal with the budget. Hopefully they will meet all the goals set forth by the IMF and can at least RV sometime in 2017. This is all in Iraq's hands and we just need to watch wait and see.

Al other rates are bogus.

Gave you an emerald to even you out. People are getting really uptight because of the 

 

economy, and yet they still put the same kind of loud mouthed idiots in power. 

 

But I digress, As per my own predictions for 2016 I have also stated that,"if there's to be 

 

an RV it wont happen until mid to late Sep. 

 

And the IMF report that you're referring to clearly makes that the case. 

 

2016 predictions,

 

1. If there's to be an RV it wont occur until mid to late Sep. 

 

2. You will see a large increase in earthquake activity.

 

3. Massive sever weather causing trillions in damages and thousands of deaths.

 

4. The rise of Islamist in America and with that the rise in what they do.

 

5. The beginnings of economic breakdown in America and the EU.

 

6. The first woman President of the United States.

 

7. Social breakdown around the world, causing massive riots and the need for martial law.

 

8. Massive wildfires that are man caused.

 

9. The rise of Ebola and other uncontrollable diseases. 

 

10. The blatant and outward hatred of anything that has to do with Evangelical Christianity.

 

      As the world enters into this next phase you will see people everywhere openly attacking 

 

     Christians, blaming them for the sufferings of everyone. 

Read more: http://dinarvets.com/forums/index.php?/topic/213629-what-will-happen-in-2016/#ixzz3x79eC5ZO

[Flash101]

LGD

I really hope you are wrong on this.

 

101

[Zebra0101]

Gave you an emerald to even you out. People are getting really uptight because of the 

 

economy, and yet they still put the same kind of loud mouthed idiots in power. 

 

But I digress, As per my own predictions for 2016 I have also stated that,"if there's to be 

 

an RV it wont happen until mid to late Sep. 

 

And the IMF report that you're referring to clearly makes that the case. 

 

2016 predictions,

 

1. If there's to be an RV it wont occur until mid to late Sep. 

 

2. You will see a large increase in earthquake activity.

 

3. Massive sever weather causing trillions in damages and thousands of deaths.

 

4. The rise of Islamist in America and with that the rise in what they do.

 

5. The beginnings of economic breakdown in America and the EU.

 

6. The first woman President of the United States.

 

7. Social breakdown around the world, causing massive riots and the need for martial law.

 

8. Massive wildfires that are man caused.

 

9. The rise of Ebola and other uncontrollable diseases. 

 

10. The blatant and outward hatred of anything that has to do with Evangelical Christianity.

 

      As the world enters into this next phase you will see people everywhere openly attacking 

 

     Christians, blaming them for the sufferings of everyone. 

Read more: http://dinarvets.com/forums/index.php?/topic/213629-what-will-happen-in-2016/#ixzz3x79eC5ZO

Don't forget about the nuclear scenario.  It will occur but I am not sure what year. If you believe in prophecy from the bible there is to be 1/3 of mankind to die, and only nukes can wipe out 2 billion plus people. 

[drj]

I love it when they post bad news!  It means that we are closer than ever!   Again, I reference what happened with the Swiss Frac a year ago.  They promised to NEVER unpeg to the Euro and turned around and did exactly that in the blink of an eye!!  

 

Here is a link...http://www.economist.com/blogs/economist-explains/2015/01/economist-explains-13

[Freedomwish]

October of 2016....boy, I don't know whether I'll be excited or frightened when the time comes   .....

But I'll be having my whiskey drinks to help calm my nerves.  Yup. 

[SocalDinar]

The Central Bank shows the MKT  rate at 1243.  It's up ( value down ) 19 pips on the year. Probably expected when they adjusted  the rate 12 pips up to 1182

Thanks for the article Yota

 

http://cbi.iq/documents/C.B.I.%20FOREIGN%20EXCHANGE.pdf

[Brisco]

At that rate lots of people getting rid of dinars and buying dollars

CBI continues reducing the note count.

Dollarize... Increase exchange rate... Dedollarize

  

I agree with Laid Back.  To me, this indicates an increasing push to pull all of the old dinars off the streets and replace them with dollars.  With the slowly declining exchange rate, the locals may want to be rid of all the old dinars sooner than later.  I suspect Iraq will RI/RV when the desired amount of old notes are pulled in and simultaneously introduce the new and lower denomination dinars.  The increase in value of the dinar will then help pull all the dollars out of circulation (will take more dollars to get a dinar) so the locals will want to rid themselves of the US dollars as soon as possible.

They will do the same internationally, I believe they will come out at 1-1 for two reasons

1) It will not confuse the Iraqis

2) a lot of people will currency exchange

Then it will advance to the pre war value or even a hair higher than Kuwaitt just because their shoe throwing culture will require it.

[four wheel drift]

October of 2016....boy, I don't know whether I'll be excited or frightened when the time comes .....

But I'll be having my whiskey drinks to help calm my nerves. Yup.

Was introduced to fireball a couple days ago.

Dangerous

Cheers

FWD

GO RV