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Confirmation of change in rate...

Curtidayne

By Curtidayne,
in Dinar Rumors

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Curtidayne Newbie

Curtidayne

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I just spoke with my contact at Sterling savings bank and they have a new buy rate for the IQD. If I were to purchase dinar from Sterling Savings Bank today I would only be paying .00105 Dollars per Dinar. This means that for every american dollar i spend, I can get 952.38 Iraqi Dinar. Quite a bit different from 1170. Granted, there are a lot of bank rumors and rumors of rate and date. All this phone call tells me is that there is activity to back up RV claims. The ball is starting to roll folks. Better get your jogging shoes on.

Sterling Savings Bank

Office of Foreign Assets Control

International Banking

1(877)846-0029

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Hitz Newbie

Hitz

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I just spoke with my contact at Sterling savings bank and they have a new buy rate for the IQD. If I were to purchase dinar from Sterling Savings Bank today I would only be paying .00105 Dollars per Dinar. This means that for every american dollar i spend, I can get 952.38 Iraqi Dinar. Quite a bit different from 1170. Granted, there are a lot of bank rumors and rumors of rate and date. All this phone call tells me is that there is activity to back up RV claims. The ball is starting to roll folks. Better get your jogging shoes on.

Sterling Savings Bank

Office of Foreign Assets Control

International Banking

1(877)846-0029

Greetings..

I appreciate that information.....

Peace

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Darin Newbie

Darin

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Is it possible to purchase at that rate? I believe from your statement it seems so.

If that is the case, the pricing seems to be better than any dealers online. So with that said, can we order online?

At that rate, one could purchase 1,000,000 dinar at roughly $952, than turn around and sell it to DT for $1,000... Than repeat :)

Making roughly $40 or less per sale.

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TimS Newbie

TimS

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That could just be from a bank that has a large spread in conjunction with the falling dollar value....no big deal. Also, it's this kind of stuff that fuels the rumor mill.....before you go making anything of the Sterling rate, can you tell me what yesterday's exchange rate was? If not....what are you comparing it to? Let us know when you see a big move? keep watching B)

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Curtidayne Newbie

Curtidayne

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Like they will get someone to cash in at that rate bank on crack!

That's the thing, their sell rate is .0006. This means that you can sell your dinar back at a rate of 1666 IQD per 1 usd.

This is a difference of over 700 currency units. You can't buy it for as cheap as you could a week ago. And since the rate hasn't officially changed in our banking systems, you won't be able to cash in at an RV rate yet. Makes perfect sense. But the numbers given by competent banking customer service reps doesn't lie.

Not sayin' nothin...just sayin'.

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Curtidayne Newbie

Curtidayne

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Is it possible to purchase at that rate? I believe from your statement it seems so.

If that is the case, the pricing seems to be better than any dealers online. So with that said, can we order online?

At that rate, one could purchase 1,000,000 dinar at roughly $952, than turn around and sell it to DT for $1,000... Than repeat :)

Making roughly $40 or less per sale.

You have to slow down and look at the numbers. If Sterling is willing to sell at .00106 dinar per 1 USD, then you would get 950 dinar per 1 USD, that would mean the Dinar has gained in value. Other wise you would be getting closer to .002 which is what Ali is charging at Dinar Trade.

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Curtidayne Newbie

Curtidayne

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That could just be from a bank that has a large spread in conjunction with the falling dollar value....no big deal. Also, it's this kind of stuff that fuels the rumor mill.....before you go making anything of the Sterling rate, can you tell me what yesterday's exchange rate was? If not....what are you comparing it to? Let us know when you see a big move? keep watching B)

I've stayed in contact with Sterling Bank about this for quite some time. My wife works there. When I spoke with my contact two weeks ago and then again last week, these were not the numbers that were quoted to me. I am not interested in spreading rumors or fanning the fire. Just trying to post good reliable information. So before you go labeling me someone I'm not, check yourself and call for yourself. Otherwise, try and be supportive. Thank you.

I just spoke with a lady from Sterling Bank. She seemed rather upset that she was getting call about the dinar. She stated that they do not offer dinar to customers.

This is BS. My wife works at this bank and I can Guarantee you that they do deal in the Dinar. Where are you getting you're information from? What number did you call?

BTW, They don't sell IQD to non Account holders. May be where you are hitting a wall.

Edited by Curtidayne
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BJinMontreal Newbie

BJinMontreal

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Is it possible to purchase at that rate? I believe from your statement it seems so.

If that is the case, the pricing seems to be better than any dealers online. So with that said, can we order online?

At that rate, one could purchase 1,000,000 dinar at roughly $952, than turn around and sell it to DT for $1,000... Than repeat :)

Making roughly $40 or less per sale.

Why does everyone insist on dividing when trying to make a simple calculation?

IF 1 dinar costs 0.00105 USD, then 1,000,000 dinar would equal 1,000,000 times the rate for 1 dinar - in this case 0.00105 USD

1,000,000 x 0.00105 = $1,050

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TimS Newbie

TimS

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You have to slow down and look at the numbers. If Sterling is willing to sell at .00106 dinar per 1 USD, then you would get 950 dinar per 1 USD, that would mean the Dinar has gained in value. Other wise you would be getting closer to .002 which is what Ali is charging at Dinar Trade.

or the dollar has lost value which is probably the case here B)

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Hfeliu Newbie

Hfeliu

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Capital One bank in NYC had a similar rate (.00107) last time I checked with them, which was a week ago, all it means is that the dinar's value has grown in the market, most likely to compete with other dinar dealers the banks are raising their rates. The CBI still has the price of the dinar at .00085

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Curtidayne Newbie

Curtidayne

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or the dollar has lost value which is probably the case here B)

Which I am inclined to agree with you as this was my first thought, however, I have personally seen about half a dozen Arab region banking sites that show an RV rate for the Dinar. I have spoken to many industry professionals saying the same thing. Listen to reason here, how many times have we seen this much activity on the dinar in this many different entities over the last year?

This is the first time we have had this much activity on the IQD in several years, save for the policy of Iraq to combat inflation by appreciating their currency.

It's really easy to deny the storm exists when we are tucked warm in our bed, but step outside and it is undeniable. There is too much going on with the IQD and the Iraqi government for all of us to ignore. This is happening. I'm certain of this.

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KramerDinar Newbie

KramerDinar

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Every time someone gets on here and talks about the rate of dinar dealers or banks, all it does it make it look like a pump to get people to go and buy more dinar. Does no one understand that if CBI or Forex is not showing any change, that some local bank is not going to be the first in the know.

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Curtidayne Newbie

Curtidayne

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I call Bull SHITE... I just called that number 18778460029 Sterling bank. LOL they no Longer buy or sell IQD so I dont know who you talked to but that is utter BS

YOU SIR ARE FULL OF SHITE. I HAVE NEVER PUT A RUMOR ON HERE BEFORE, JUST MY THOUGHTS AND INFORMATION FROM RELIABLE PEOPLE. I HAVE NO INTENTIONS OF PUMPING THE SYSTEM NOR DO I MAKE A PROFIT IF MORE PEOPLE PURCHASE DINAR. I AM AN AVERAGE GUY WITH AN ABOVE AVERAGE INTELLIGENCE WHICH ALLOWS ME TO REASON AND DEDUCE ON MY OWN. I ALSO KNOW WHO I TALKED TO, WHAT ABOUT, AND THE MEANS OF WHICH I HAVE SPOKEN TO THEM. IN ADDITION, MY WIFE WORKS AT THIS BANK AND IS VERY AWARE OF THEIR OPERATING PROCEDURES, POLICIES, AND NETWORK OF CONTACTS WITHIN THE BANK. UNLESS YOU CAN COME BACK WITH A NAME OF THE INDIVIDUAL YOU SPOKE WITH AT THAT NUMBER, WHICH I AM FAMILIAR WITH THE PEOPLE WHO WORK IN THAT DEPARTMENT, THEN I WILL CONCEDE DEFEAT ON THIS SUBJECT. UNTIL THEN , KEEP YOUR MOUTH SHUT UNLESS YOU HAVE SOMETHING PRODUCTIVE OR HELPFUL TO PUT OUT.

AND DON'T CALL ME A LIAR, HAD YOU DONE THAT TO MY FACE I WOULD HAVE PUT YOU IN YOUR PLACE.

To everyone else, I apologize for this response but in light of all the intel bashing happening from those who have an invested interest in steering us away from this investment, something had to be said. GO RV!!!!

Every time someone gets on here and talks about the rate of dinar dealers or banks, all it does it make it look like a pump to get people to go and buy more dinar. Does no one understand that if CBI or Forex is not showing any change, that some local bank is not going to be the first in the know.

I think it is safe to say that if the CBI or the Forex showed the true RV rate before our banking sectors came into time compliance, there would be opportunity for insider trading. Considering the Communication string we are a part of, we will probably hear of the RV before it's posted to those sites. The average person does not even know what the Iraqi dinar is. I doubt there will be a huge announcement about it until everyone is involved, right now it SEEMS as though the Arabian region is first in line.

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xdmed Newbie

xdmed

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Is it possible to purchase at that rate? I believe from your statement it seems so.

If that is the case, the pricing seems to be better than any dealers online. So with that said, can we order online?

At that rate, one could purchase 1,000,000 dinar at roughly $952, than turn around and sell it to DT for $1,000... Than repeat :)

Making roughly $40 or less per sale.

it has always been cheaper at my bank as well bb&t. dont kid yourself about selling to dt though lol of course his is higher than the real rate thats how he makes money

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