KWD exchange rate With IQD

[jphillips]

I have never seen a dumber bunch of people in my life. Honestly, this is turning into a comedy website. Anyone with half a brain knows the CBI website is the official source of the rate compared against the US dollar. It has not changed.

Let me make this crystal clear. IF THE CENTRAL BANK OF IRAQ DOES NOT CHANGE IT'S RATE, THEN RATES AT ANY OTHER BANK IN THE WORLD MEANS ABSOLUTELY NOTHING. GOT IT! WHAT IS WRONG WITH YOU PEOPLE?

Geeze! No wonder American test scores keep dropping.

Careful there pardner (sp intended). A little quick on the draw aren't we from a conclusion perspective. There are a multitude of reasons Doha, a legit bank with a legit link, could have put the IQD in the exchange rate table. One, the bank, site and link were verified a number of times and found to be valid. Two, due to the fact that there was no spread indicated that the rate was probably put up there as a place holder for when the IQD becomes a marketable currency and was probably removed due to call volume. Three, the activity is a good thing as it indicates expectation of IQD RV. Four, when there is a lack of actionable intel, we work with what we have (sometimes very entertaining). Five, CBI is not always the best at updating their site (oh, hosted out of Houston, TX I believe). Six, this is all conjecture. Seven, a glass house is a dangerous place in which to live.

[cbs71]

I have never seen a dumber bunch of people in my life. Honestly, this is turning into a comedy website. Anyone with half a brain knows the CBI website is the official source of the rate compared against the US dollar. It has not changed.

Let me make this crystal clear. IF THE CENTRAL BANK OF IRAQ DOES NOT CHANGE IT'S RATE, THEN RATES AT ANY OTHER BANK IN THE WORLD MEANS ABSOLUTELY NOTHING. GOT IT! WHAT IS WRONG WITH YOU PEOPLE?

Geeze! No wonder American test scores keep dropping.

LOL you posting this all around the globe I see...

from the "other site" to this site now....

Man, you have issues....

[Dr Hubby]

So i just called and talked with a gentleman at the Kuwaiti branch and told him that I was just on his website and saw that the exchange rate for the Iraqi Dinar was .1 to the Kuwaiti Dinars .1 and asked if that was correct...he said yes ma'am that is correct, so I said your are exchanging the Iraqi Dinar for .1 to the Kuwait dinars .1 and he said yes ma'am that is correct ...again, I said ok and he said is that all you needed to know , I said yes just wanted to make sure that info was correct and he said once again yes ma'am it is...I told him thank you very much and to have a nice day and he said goodbye...His English wasn't the best but definitely understandable, so if someone else would like to call and back up what I just heard that would be great....Doha Bank Kuwait Branch 01196522917222

http://www.dohabank....hangeRates.aspx

Thanks

Thanks KIKKI, appreciate the post. It keeps us awake.

I have never seen a dumber bunch of people in my life. Honestly, this is turning into a comedy website. Anyone with half a brain knows the CBI website is the official source of the rate compared against the US dollar. It has not changed.

Let me make this crystal clear. IF THE CENTRAL BANK OF IRAQ DOES NOT CHANGE IT'S RATE, THEN RATES AT ANY OTHER BANK IN THE WORLD MEANS ABSOLUTELY NOTHING. GOT IT! WHAT IS WRONG WITH YOU PEOPLE?

Geeze! No wonder American test scores keep dropping.

WOW, mentalmagic, do you have a knot in your underwear? You might want to tone it down a little, this is in fact the best Dinar Blog/Forum site anywhere and you are fortunate to be here, for now anyway.

[TBnhispower]

This isn't intel. This is a bank's website showing a rate for the IQD. We're trying to determine what it means, but it's not as simple as "rookies announcing wrong intel". If this bank is offering a rate that translates to $.35 then we have to conclude that they have a reason for doing so, such as an upcoming RV at a higher value.

Hey Scooby Doo, was on a chat with you a couple nights ago and remember you saying something about .30, so thinking you may be the best guru yet. LOL

[rathe63]

I'm in Kuwait. There are a large number of people in our shop just waiting to go home. as soon as we heard this "rumor" we started making calls of our own during normal banking hours. Early this morning the representatives at the bank told multiple people on different calls that the IQD was still at 1170 but that their bank was offering the .1 rate reflected on their site. We sent a few guys to the bank to try an exchange and by the time they got to the bank the story had changed to "we dont deal in IQD, I dont know why its showing on our site right now. It must be a "glitch." A few hours later the IQD was removed from the list.

i have no doubt that someone made a quick buck cashing in and then all traces disappeared.

sorry to say it looks like we will be here for a bit longer.

[jrcrna]

http://www.dohabank.com.kw/en/OtherServices/ExchangeRates.aspx

DOHA Bank Kuwait showing exchange at .1 KWD for 1 IQD This works out to be 1 IQD = $0.36

this is the link please confirm if this is correct

i cant see the IQD on the rate exchange table...am i blind? jr

[Frank61]

So i just called and talked with a gentleman at the Kuwaiti branch and told him that I was just on his website and saw that the exchange rate for the Iraqi Dinar was .1 to the Kuwaiti Dinars .1 and asked if that was correct...he said yes ma'am that is correct, so I said your are exchanging the Iraqi Dinar for .1 to the Kuwait dinars .1 and he said yes ma'am that is correct ...again, I said ok and he said is that all you needed to know , I said yes just wanted to make sure that info was correct and he said once again yes ma'am it is...I told him thank you very much and to have a nice day and he said goodbye...His English wasn't the best but definitely understandable, so if someone else would like to call and back up what I just heard that would be great....Doha Bank Kuwait Branch 01196522917222

http://www.dohabank.com.kw/en/OtherServices/ExchangeRates.aspx

Thanks

Why not just call Bank of Kuwait in Manhattan NY ??

[ekfinn]

pumping should be against the law

So should being a dumbass and getting pumped by the pumpers.

By the way... I have a bridge over in Brooklyn....

[Rayzur]

i cant see the IQD on the rate exchange table...am i blind? jr

No you are not blind. You were looking at the site all of us were watching last night. It was there for hours. It is clearly not there now. I have no idea what that does or doesn't mean, beyond it was there and now it is not.

BTW for this bank it was only on the Kuwait site for the bank. You could check thay by looking to see that kw was in the link.... (can't remember what was in the link for the other two banks). Those checking the bank and not looking at the Kuwait site, could not see the KWD to IQD exchange. In looking at the Kuwait site this morning, the KWD to IQD is also not there anymore. Also, the exchange was always for KWD to IQD. There was never a direct IQD to USD. The equation was IQD to KWD and then KWD to USD.

Again, don't have any idea as to the meaning of it all. But it was there and is now gone

Edited January 11, 2011 by Rayzur

[kikki]

Why not just call Bank of Kuwait in Manhattan NY ??

Because the Doha Bank...only their Kuwait branch had the IQD for exchange on their site.... the Bank of Kuwait was not the bank being checked into...

[Fly4fun]

i cant see the IQD on the rate exchange table...am i blind? jr

No you are not blind.

Here is a quick recoup of the facts and the time-lines how they occurred.

Kikki found the listing (see first picture added) from the Doha Bank, called and it was verified.

At the same time, while it was long past opening hours at early afternoon on Tuesday 1-11-11 (1:00 PM) in Iraq, the CBI still had the listing of the previous day of 1-10-11 (see second picture) This changed at about 1:00 PM (see third picture)

These things happening at the same time can get the speculation going.

Earlier in this thread I had offered my opinion that the Doha Bank might know more.

There are two possibilities:

1. They are trying to buy the Dinar at a lower rate than what will be the official RV-rate. Iraq (CBI) is also not selling any IQD, so this is an open invitation to speculation. If you would have offered 1 billion IQD they might have bought your IQD's. (that is why they have no spread and are only putting out 0.1 instead of the usual 0.1XXX)

2. They are probing the market on behalf of whoever is behind this effort to see what the market response is.

So I would be careful with any criticism unless you have read the whole story. I apologize if I missed something but I am willing to learn and open for further education.

Thank you all who are doing constructive / substantiated posts.

[imgesing]

I witnessed the bank change myself last night. 1-1 KWD to DINAR then GONE...

The call put in by the above person was interesting. I am curious about all of this.

We will see with time what it means.

Patience is not easy at this point. This site is great and at times frustrating because for me I just want FACTS. It is so easy to speculate about everything. I just hope this isnt some big pipe dream or a bad joke... It is fun believeing in the change that this could go big.

I wish us all the Best... sincerely I do. It is quite the learning curve.

[rocketman2010]

So should being a dumbass and getting pumped by the pumpers.

By the way... I have a bridge over in Brooklyn....

is something on your mind

[Dinar Holder]

OMG this post got over 340 comments.

This was very funny to read.

GO RV....................

[Rayzur]

OMG this post got over 340 comments.

This was very funny to read.

GO RV....................

Yeah its kinda sad to see this thread die... It was so hopping last night while the IQD was posted. If nothing else, it was great fun speculating as to what it all meant, and after watching paint dry for days on end... It was fun to actually see something change which in turn may (or may not) mean anything.