looks like we may have a RATE

[DrDinar]

Is math really that hard? If some are saying 1.12, are we saying 1 dinar = $1.12 USD? If this is the case, then the dinar number would be lower than the USD number, because if it was 1 = 1 then it would be 93 billion dinar (93 billion dollars). If the rate was 1 = 1.12 it would be 93 billion dinar (104.16 billion dollars)

93 billion Iraqi dinars (79.6 billion dollars) = rate 0.86

[NoviceInvestor]

I hope so! I'd be more than happy with that rate!

When ?

When ?????

[timmerw45]

It all looks great

[IrishinDenver]

Ok... this math looks right to me...the amount of dinar (93 bilion) is larger than the amount of USD(79.6 billion) so it would be 1.16 dinar = 1 USD

If it were .85 then the amount of dinar would have to be smaller than the = to amount of dollars ..... GO RV!!!!

Now all I wanna know is when to I cash in????? Monday?????

one dinar is worth.8559

[kingjoe]

Certainly not wanting to be a pessimist, but I agree with this statement by keepmwlknfny. I also remember seeing that the budget figure were quoted originally in trillions of dinars, not billions. Maybe it's a typo...or how about the possibility something getting lost in the translation.

The trillion terminology comes from what they have in reserve of oil in dollars and dinars. Billion is sounds right.

[twc68]

Not to be a downer, but they may have just misprinted the number, eg 93 trillion instead of 93 billion giving you a rate of .000856, or the current exchange rate, just sayin

[FXStockpiling]

Please read the artical and check my math

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.swalefnalhelwa.com/news.php%3Faction%3Dview%26id%3D1002&rurl=translate.google.com

The Iraqi government has approved the draft federal budget law for fiscal year 2011, so inform the budget some 93 billion Iraqi dinars (79.6 billion dollars), when calculated per barrel to $ 73 U.S., and the rate of export of 2.25 million barrels per day.

If you devied 79.6 into 93 you get 1.16 so it looks as if 1.16 dinars = 1 USD

Looks like a TYPO should have been million dollars (divide by 1170)

[Mongo]

........ ........ ......... ..........!!!!!!!

[Yogi-Donnie]

Sounds great... $.86.. Im in!

[renros]

It's been a VERY LONG week. My brain just kicked in. .85 I can handle.

Edited January 7, 2011 by renros

[Sparky69]

Current rate 1 USD=0.000855 IQD (basically 1/10th of a cent

1.00/0.000855=1169.59(1USD=1170 IQD)

Remove,delete,lop three zeroes from nominal value of IQD

then 1 USD=0.855 IQD

1.00/0.855=1.169(1 USD=1.17IQD

If the budget was to include an RV then wouldn't it make sense for all the terminoligy in the budget to refer to the dinar in the billions instead of trillions?If this is the case and they are actually stating that their budget is 93 billion dinar and it is equivalent to 79.6 billion US then it is clearly stating that the dinar is worth more than the USD.

93,000,000,000 (IQD)/79,600,000000(USD)=1.168 IQD/1 USD

JMO but I wouldn't put it past Shabs and the GOI to manioulate the budget to reflect doing this.And I also think it's just the starting point to get some investors out draw in some new ones and leave some sitting on the fence waiting.Myself I'll cash in a bit so I can sit back and relax while it does it's thing.again,jmo.

Cheers,

Sparky

[dirtman_00]

It's been a VERY LONG week. My brain just kicked in. .85 I can handle.

I think all of us are give-out//

[Qman]

[BigD-Dinar]

My guess would be that they're trying to get some some people to start cashing in early, I personally will be holding out for a higher rate. Either way I don't hate it!

[DrDinar]

If this was the true rate, what would one think the spread would be on it?

[estephan]

looks solid rate is .85555 , IIXVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV

[007]

Please read the artical and check my math

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.swalefnalhelwa.com/news.php%3Faction%3Dview%26id%3D1002&rurl=translate.google.com

The Iraqi government has approved the draft federal budget law for fiscal year 2011, so inform the budget some 93 billion Iraqi dinars (79.6 billion dollars), when calculated per barrel to $ 73 U.S., and the rate of export of 2.25 million barrels per day.

If you devied 79.6 into 93 you get 1.16 so it looks as if 1.16 dinars = 1 USD

I believe the rv rate is more complicated than what you said.

[hammy]

Don't think that is the case. In their constitution it states that once a rate is determined and say an R.V. is posted ------ they can only raise the value of current posted rate by 2% every 6 months. So say the rate comes in at 0.85 six months later they can raise it to 0.86 six months after that to 0.88. At this rate it would take 30 years for the currency to equal kuwaiti dinar. Iraq is going to post the R.V. at the highest possible rate that they can.

Edit:Spelling

Edited January 8, 2011 by hammy

[tjmunson]

HELLO MCFLY!!!!!!!! The article is a typo....The budget is 93 TRILLION Dinar NOT Billion................This post is a waste of everyone's time.

[estephan]

I believe the rv rate is more complicated than what you said.

Indeed 007 , we see glimpses the rest is our think tank , afterall we can't wait around for the GURUS to feed us. To quote another poster Stay thirsty

[AkinNAUY]

Don't think that is the case. In their constitution it states that once a rate is determined and say an R.V. is posted ------ they can only raise the value of current posted rate by 2% every 6 months. So say the rate comes in at 0.85 six months later they can raise it to 0.86 six months after that to 0.88. At this rate it would take 30 years for the currency to equal kuwaiti dinar. Iraq is going to post the R.V. at the highest possible rate that they can.

Edit:Spelling

3.22 + 20%??? <-------- LETS GO RV...

[sweet B]

Im pretty sure this is a typo.....the budget is supposed to be 91 or 93 TRILLION dinar.......guess we will see.....check other news sources.....

This is just a quick thought, I suck at math especially with all those 0's but any chance the budget went from Trillion to Billion from then using a post RV amount????

[BadCobra]

Please read the artical and check my math

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.swalefnalhelwa.com/news.php%3Faction%3Dview%26id%3D1002&rurl=translate.google.com

The Iraqi government has approved the draft federal budget law for fiscal year 2011, so inform the budget some 93 billion Iraqi dinars (79.6 billion dollars), when calculated per barrel to $ 73 U.S., and the rate of export of 2.25 million barrels per day.

If you devied 79.6 into 93 you get 1.16 so it looks as if 1.16 dinars = 1 USD

On the other hand, if they incorrectly used (translated) 93 billion dinars = 79.6 billion USD, and it should have been 93 trillion dinars = 79.6 billion USD (which I have seen in the past month), then you get a rate of 1168 (and some change) = 1$ USD.... Just saying', but I would be pleased with it if the translation were correct...

Cheers!

[sweet B]

My guess would be that they're trying to get some some people to start cashing in early, I personally will be holding out for a higher rate. Either way I don't hate it!

I'll be cashing in early too for whatever amount I need for now but hold onto as much as I can cause if they do start it at a low point, it should rise, IMO

[estephan]

HELLO MCFLY!!!!!!!! The article is a typo....The budget is 93 TRILLION Dinar NOT Billion................This post is a waste of everyone's time.

what about the other comparisons in th article Tj , seems interesting. In addition to The 2011 budget being 3x greater than the total money supply 27T , even with the draw back. Assuming it is 93T

Edited January 8, 2011 by estephan