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Parliamentary Finance and the Central Bank take an important step regarding changing the dollar exchange rate


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On 6/26/2021 at 8:15 AM, rvmydinar said:

Which rate is the Previous one? 1190 iqd ( delete 3 zeros= 1.19 iqd that means 1 iqd=0.84 usd ) 0r old glory rate of 3.24 usd? 

Iraq's "old glory" rate was artificial. Experts at the time said it wasn't worth half as much. It is highly doubtful Iraq will ever return to a rate of 3.24 USD anytime in the next 4 lifetimes. You would have much better luck catching a rainbow from a unicorn fart than seeing 3.24 USD from Iraqi dinar.

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8 hours ago, Theseus said:

Iraq's "old glory" rate was artificial. Experts at the time said it wasn't worth half as much. It is highly doubtful Iraq will ever return to a rate of 3.24 USD anytime in the next 4 lifetimes. You would have much better luck catching a rainbow from a unicorn fart than seeing 3.24 USD from Iraqi dinar.

So how do you know it’s artificial? Or was? Also Kuwait’s rate? Explain why it can’t? 

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38 minutes ago, screwball said:

So how do you know it’s artificial? Or was? Also Kuwait’s rate? Explain why it can’t? 

Here you go, red dot history. What is half of the 1986 official rate?

THE HISTORY OF IRAQI DINAR EXCHANGE RATE

  1. 1. THE HISTORY OF IRAQI DINAR EXCHANGE RATEIraqi dinar was introduced in 1931, the Iraqi dinar has replaced by British poundsinto being pegged to the US dollar. The Iraqi dinar was equaled to US$4.86between 1932 and 1949 and equaled to US$2.80 between 1949 and 1971, afterbeing devalued in 1949.As a gesture of independence in 1959, Iraq uncoupled the Iraqi Dinar officiallyfrom the Pound. But Iraqi dinar remained at equality with the pound till thecurrency unit of Britain was devalued in 1967for second time. Until December1971, 1 Iraqi Dinar equated to the value of US$ 2.80.Soon after the inflation of the United States dollar in 1973, the Iraqi Dinar valuedto US$3.39. The value of Dinar remained same till the war of Iran - Iraq. Iraq in1982 devalued the Dinar by 5%, equating it to US $ 3.22. In the earlier of 1988,the standard exchange rates Iraqi Dinar – Dollar continued to equate the Iraqidinar (ID )1 to US$3.22. But, with levels of the nation´s cost of living rate varyingfrom 25 % to 50 % a year in 1985 and 1986, the real exchange rate Dinar value,was much lower-only relating to half the 1986 official rate.After the Gulf War in 1991, because of UN sanctions, the formerly used Swissprinting was no more offered. A fresh, lower quality notes issue was created.Because of the issues such as sanctions against Iraq by the United States and theextreme government publishing of the new notes matters, the dinar devaluedrapidly, and in late 1995, 3,000 dinars equated US$1=.
  2. 2. In October 2003, the official Dinar value was 1 ID = US$ 0.00027.2004. In 2005august, the official value of dinar - dollar exchange rates became 1 ID to US$0.00068. On January 1st, the rates fluctuated to the value of 1 ID = US$ 0.00068.The values further changed and become 1ID = US$ 0.00067 on January 1st 2006.Under the rule of Saddam Hussein, Iraq experienced big political and economicalchanges. The new government however encourages foreign investments and aimsto build its new monetary system. Thus, the value of exchange rate Dinar isexpected to get increased rapidly.Prepared with many safety features making the currency incredibly hard tocounterfeit, each new note was created in the U.S. Empire by De La Rue, thebiggest professional protection and anti-forgery papermaker on the globe.The new currency was released in volumes of 50, 250, 500, 1,000, 5,000, 10,000and 25,000 dinars and is portrayed with pictures of Iraqs lifestyle and pre-Saddamrecord. Many economists say that the Iraqi Dinar has the potential to increase itsvalue in the future.For more information on exchange rate Dinar,exchange rates Iraqi Dinar ,Pleasevisit:-DinarGate

 

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46 minutes ago, screwball said:

So how do you know it’s artificial? Or was? Also Kuwait’s rate? Explain why it can’t? 

I don't understand why rainbow farting unicorns, are such a matter of controversy here. Do none of you have Grandchildren??? :jester:🦄💨🌈

 

 

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1 hour ago, Theseus said:

Here you go, red dot history. What is half of the 1986 official rate?

THE HISTORY OF IRAQI DINAR EXCHANGE RATE

  1. 1. THE HISTORY OF IRAQI DINAR EXCHANGE RATEIraqi dinar was introduced in 1931, the Iraqi dinar has replaced by British poundsinto being pegged to the US dollar. The Iraqi dinar was equaled to US$4.86between 1932 and 1949 and equaled to US$2.80 between 1949 and 1971, afterbeing devalued in 1949.As a gesture of independence in 1959, Iraq uncoupled the Iraqi Dinar officiallyfrom the Pound. But Iraqi dinar remained at equality with the pound till thecurrency unit of Britain was devalued in 1967for second time. Until December1971, 1 Iraqi Dinar equated to the value of US$ 2.80.Soon after the inflation of the United States dollar in 1973, the Iraqi Dinar valuedto US$3.39. The value of Dinar remained same till the war of Iran - Iraq. Iraq in1982 devalued the Dinar by 5%, equating it to US $ 3.22. In the earlier of 1988,the standard exchange rates Iraqi Dinar – Dollar continued to equate the Iraqidinar (ID )1 to US$3.22. But, with levels of the nation´s cost of living rate varyingfrom 25 % to 50 % a year in 1985 and 1986, the real exchange rate Dinar value,was much lower-only relating to half the 1986 official rate.After the Gulf War in 1991, because of UN sanctions, the formerly used Swissprinting was no more offered. A fresh, lower quality notes issue was created.Because of the issues such as sanctions against Iraq by the United States and theextreme government publishing of the new notes matters, the dinar devaluedrapidly, and in late 1995, 3,000 dinars equated US$1=.
  2. 2. In October 2003, the official Dinar value was 1 ID = US$ 0.00027.2004. In 2005august, the official value of dinar - dollar exchange rates became 1 ID to US$0.00068. On January 1st, the rates fluctuated to the value of 1 ID = US$ 0.00068.The values further changed and become 1ID = US$ 0.00067 on January 1st 2006.Under the rule of Saddam Hussein, Iraq experienced big political and economicalchanges. The new government however encourages foreign investments and aimsto build its new monetary system. Thus, the value of exchange rate Dinar isexpected to get increased rapidly.Prepared with many safety features making the currency incredibly hard tocounterfeit, each new note was created in the U.S. Empire by De La Rue, thebiggest professional protection and anti-forgery papermaker on the globe.The new currency was released in volumes of 50, 250, 500, 1,000, 5,000, 10,000and 25,000 dinars and is portrayed with pictures of Iraqs lifestyle and pre-Saddamrecord. Many economists say that the Iraqi Dinar has the potential to increase itsvalue in the future.For more information on exchange rate Dinar,exchange rates Iraqi Dinar ,Pleasevisit:-DinarGate

 

great...but who determines the real rate? how do we know kuwaits rate is real? who really cares I think they can go as high if not higher.

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3 hours ago, screwball said:

great...but who determines the real rate? how do we know kuwaits rate is real? who really cares I think they can go as high if not higher.

Here is a fun exercise for you to get an idea of the RV rate:

 

How much tonnage of gold does Iraq have? (They haven't increased their gold reserve in several years). Convert that into USD or Dinar. Your choice.

 

How much money is in their International Reserves?

 

Now add that up and divide it by the total currency outside of the bank. If you like you can convert to USD at the current exchange rate..

 

Once you have that number you have the maximum amount Iraq can RV at. Iraq will RV below that number.

 

You cannot count the amount of oil in the ground that Iraq has because it is a commodity and commodities fluctuate as we have seen in the past. Nor can you count any other commodity, such as minerals, that has not been converted into cash. Once you have this you will see that Iraq will not be able to RV at the $3+ USD rate. At best the rate is well under 2 USD per dinar. Iraq will not RV at that value either, they will RV well below that value.

 

 

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27 minutes ago, Theseus said:

Here is a fun exercise for you to get an idea of the RV rate:

 

How much tonnage of gold does Iraq have? (They haven't increased their gold reserve in several years). Convert that into USD or Dinar. Your choice.

 

How much money is in their International Reserves?

 

Now add that up and divide it by the total currency outside of the bank. If you like you can convert to USD at the current exchange rate..

 

Once you have that number you have the maximum amount Iraq can RV at. Iraq will RV below that number.

 

You cannot count the amount of oil in the ground that Iraq has because it is a commodity and commodities fluctuate as we have seen in the past. Nor can you count any other commodity, such as minerals, that has not been converted into cash. Once you have this you will see that Iraq will not be able to RV at the $3+ USD rate. At best the rate is well under 2 USD per dinar. Iraq will not RV at that value either, they will RV well below that value.

 

 

Gotcha….please push the button.  Done Done!

Cheers to Us!

I can finally buy some new sleeves of Pro-V’s

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13 hours ago, Theseus said:

Here you go, red dot history. What is half of the 1986 official rate?

THE HISTORY OF IRAQI DINAR EXCHANGE RATE

  1. 1. THE HISTORY OF IRAQI DINAR EXCHANGE RATEIraqi dinar was introduced in 1931, the Iraqi dinar has replaced by British poundsinto being pegged to the US dollar. The Iraqi dinar was equaled to US$4.86between 1932 and 1949 and equaled to US$2.80 between 1949 and 1971, afterbeing devalued in 1949.As a gesture of independence in 1959, Iraq uncoupled the Iraqi Dinar officiallyfrom the Pound. But Iraqi dinar remained at equality with the pound till thecurrency unit of Britain was devalued in 1967for second time. Until December1971, 1 Iraqi Dinar equated to the value of US$ 2.80.Soon after the inflation of the United States dollar in 1973, the Iraqi Dinar valuedto US$3.39. The value of Dinar remained same till the war of Iran - Iraq. Iraq in1982 devalued the Dinar by 5%, equating it to US $ 3.22. In the earlier of 1988,the standard exchange rates Iraqi Dinar – Dollar continued to equate the Iraqidinar (ID )1 to US$3.22. But, with levels of the nation´s cost of living rate varyingfrom 25 % to 50 % a year in 1985 and 1986, the real exchange rate Dinar value,was much lower-only relating to half the 1986 official rate.After the Gulf War in 1991, because of UN sanctions, the formerly used Swissprinting was no more offered. A fresh, lower quality notes issue was created.Because of the issues such as sanctions against Iraq by the United States and theextreme government publishing of the new notes matters, the dinar devaluedrapidly, and in late 1995, 3,000 dinars equated US$1=.
  2. 2. In October 2003, the official Dinar value was 1 ID = US$ 0.00027.2004. In 2005august, the official value of dinar - dollar exchange rates became 1 ID to US$0.00068. On January 1st, the rates fluctuated to the value of 1 ID = US$ 0.00068.The values further changed and become 1ID = US$ 0.00067 on January 1st 2006.Under the rule of Saddam Hussein, Iraq experienced big political and economicalchanges. The new government however encourages foreign investments and aimsto build its new monetary system. Thus, the value of exchange rate Dinar isexpected to get increased rapidly.Prepared with many safety features making the currency incredibly hard tocounterfeit, each new note was created in the U.S. Empire by De La Rue, thebiggest professional protection and anti-forgery papermaker on the globe.The new currency was released in volumes of 50, 250, 500, 1,000, 5,000, 10,000and 25,000 dinars and is portrayed with pictures of Iraqs lifestyle and pre-Saddamrecord. Many economists say that the Iraqi Dinar has the potential to increase itsvalue in the future.For more information on exchange rate Dinar,exchange rates Iraqi Dinar ,Pleasevisit:-DinarGate

 

That's why the Shabibi wanted a return to "late seventies, early eighties" Here's the report  with all the qualifiers. It suggests a goal and a plan to achieve such. 

 

The stability of the exchange rate of the dinar against the dollar

CAIRO - Muhammad Khalifa

 

2008-4-9

Dr. Sinan Alshabibi Governor of the Central Bank exchange rate stability of the Iraqi dinar against the dollar, and that the bank encourages citizens to buy dinar and handling and keeping it

Where currencies began his confidence day by day and became keen on the conduct of the dollar and the dinar rather buy it as it saw Amian revealed dinar return to power, which led to the elimination of inflation, which we suffer from in the past.

He said Alshabibi told the (morning) during his participation in the Arab banking conference in 2008, held in Cairo under the slogan (the role of banks in financing investment projects in Arabic) sponsored by the Arab League, we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar and other foreign currencies and we are endeavouring and serious in this regard, but added that this process is not easy and simple and depends on the supply and demand of Iraqi dinars.

And encourage the private sector in the transfer of capital between countries reported: that opportunities are open to all and free to move money to any country that wants alluding shortage of regulatory issues in this area because we are still suffering from a routine killer in most government departments, explaining that there Many banks have formed a civil relations with a wide Arab and international banks and well and bode well Annci and we were in isolation from the world banking over 30 years but at the same time we are moving very fast pace.

For his part, Associate Director of the Rafidain Bank Mohsen Abdel Hassan told (morning), which participated in the conference representatives from the banking Rafidain Bank came to participate in order to continue the banking interface between Iraq and Arab countries and return to the Arab ranks banking indicating that the participation of Iraqi banks in these conferences Arab and meetings are very positive because it is through the identification of the latest developments at the Arab Banking addition to agreements with various banks participating Conference.

He added that the Rafidain Bank has eight branches in the Arab countries two in Jordan and the other in Lebanon and Syria and Abu Dhabi, Cairo and Yemen, we have an ambitious plan to increase the number of bank branches to reach all the Arab countries, and provides services to these branches Iraqi community in the transfer of funds and other banking transactions addition to pay retirees of Iraqis who live in these countries.

He connected at the level of board chairman of the Union of Arab Banks Adnan Hamad Youssef told (morning): We have established strong relations with Iraqi banks as we work together to invest funds in the reconstruction of Iraq and through our union together, pointing out that we approached the Iraqi bank now to send a number of working in the Iraqi banks for training and rehabilitation in the Union and at the hands of expert professional bankers pointed out that we in the European aspire to attract bankers Iraqis through their support at all levels within and outside Iraq, explaining that the Federation began an ambitious plan establishment of several bank branches belonging Arab tent Union in Iraq After improvement of security.

 

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2 hours ago, wciappetta said:

we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar and other foreign currencies

Thanks wciappetta. I like this sentence. I hope the current cbi governor will continue what shabibi's aspiration to return the iqd rate to what it was in the seventies.

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4 hours ago, wciappetta said:

we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar

In 1980 the dinar was worth $1.36. I would LOVE it to return to that rate!!

(Also, they have a strange idea of “in the near future” … 🤣)

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16 minutes ago, rvmydinar said:

Did " In the near future " mean " close to soon ", according to iraq dictionary?


“ in the coming days “ :lmao:  I began noticing this non-committal phrase more and more back in 2013 when they were referring to Shabs wanting to get the IQD global....but here we still all here reading about it.....eeeesh  

 

The time frame for SOON has a shelf life of 6 months to 10 years-Criminal politicians like to be flexible 😂


All the Best 

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45 minutes ago, horsesoldier said:


“ in the coming days “ :lmao:  I began noticing this non-committal phrase more and more back in 2013 when they were referring to Shabs wanting to get the IQD global....but here we still all here reading about it.....eeeesh  

 

The time frame for SOON has a shelf life of 6 months to 10 years-Criminal politicians like to be flexible 😂


All the Best 

 

Saw this last night....thought it may be relevant. Sorry, could only find on FB.

 

https://www.facebook.com/InsideTheChosen/videos/868454494004829

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4 hours ago, Half Crazy Runner said:

In 1980 the dinar was worth $1.36. I would LOVE it to return to that rate!!

(Also, they have a strange idea of “in the near future” … 🤣)

Until December1971, 1 Iraqi Dinar equated to the value of US$ 2.80.Soon after the inflation of the United States dollar in 1973, the Iraqi Dinar valued to US$3.39. The value of Dinar remained same till the war of Iran - Iraq. Iraq in 1982 devalued the Dinar by 5%, equating it to US $ 3.22.   

 

At least the reports show intent. Near future? May be sooner than we realize

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