Realistic rates

[alston82]

Glad you are not incharge of the RV

[zoomzoom]

Kelsguy1113 can you post the link to BoA currency exchange site? I cannot locate it. Thanks

[Klu33]

i went to BoA site and found exchange info but iraq was not an option

[dfekigjkh2]

I think it can go 1 of 3 ways. 1) .05 then climb for a while until Iraq joins the GCC monetary union. 2) 1.40-1.50 (near the Euro) 3) Higher but with a LOP. I think #2 is more likely. Im hoping #2 is more likely.

[taxguy]

I would say that i agree, knowing that Shabibi gas publicly stated that he does not like speculative investors. However, if he choses to come out at say .50, the wealthy are going to go on a buying spree of major proportions knowing that a rapid float to a much higher value or a straight up rv to a higher value looms in the very near future. That much of a run on their currency by new speculators, IMO, is very likely to surpass the current speculative holdings and in the end net them nothing with respect to the circulation amount. IMO, they will come out at 1.50 to 2, to get a large cash in and prevent a huge new bach of speculators b4 rv'ing again at a higher rate.

I have seen this statment before, that Shabibi doesn't like speculators. I have not seen the quotes but I wonder if his statements are taken out of context. Specifically, I think all Central Bankers hate guys like Soros who try to profit from taking down a country's currency. Ditto for people who are in an out of the market on a short term basis, contributing to instability in the currency markets. But why should central banker like Shabibi hate people like us who have bought dinar and plan to hold it until it increases in value? We are creating a market for the dinar and our buy and hold mentality creates stability in the market for IQD.

I would appreciate any thoughts on this.

[Muhammad]

I think it can go 1 of 3 ways. 1) .05 then climb for a while until Iraq joins the GCC monetary union. 2) 1.40-1.50 (near the Euro) 3) Higher but with a LOP. I think #2 is more likely. Im hoping #2 is more likely.

#1 will affect the oil sales in the long run; #2 is an appropriate choice hopefully a bit higher about 2.50; #3 will not be possible because Iraq is not facing hyperinflation yet and of course, if it wants to exploit both ISX investors/Warka Bank investors and dinar holders worldwide, equally. But such exploitation will spark off widespread rioting in Iraq may be caused by Iraqi ISX investors/Iraqi Warka Bank investors and the ordinary Iraqi people below lower income group in droves with certainty. #3 is not an appropriate economic strategy for an RV at all!

[mervin]

At $0.50, I would cash a small amount to make my investment a success. I would then hold the rest for the eventual run-up to where it should be. I think many others would too so this strategy as a way to get large dinar out of circulation would not work well let alone the massive investment influx that would occur. I would exchange for lower denominations however. It is more logical to be around the Euro or a bit higher then let it float as the oil revenue is 3 to 5 years away.

[DmsC]

Second, go to Bank of America's currency exchange sight. the Kuwait Dinar is listed and $3.87. one click proves that this isn't a joke. it is a real rate

As of 1 24 10 the KWD is sitting at $3.43 . Verify on Oanda.com currency converter.

[joe-dinar]

"All day long I have sat in chat listening to people come in and out spouting off rumors of $3.86 .04 cheaper than KWD. first of all the rate 1.00 KWD = 3.48675 USD . amazing how easy it was to debunk with one click of the mouse."

They are probably getting the $3.90 rate here: https://www.foreignexchangeservices.com/rate/rate.html?partnerid=FES

Its the real deal. My Kuwaiti friend visits home several times a year and on his last visit he noticed a rather large difference in the exchange rate. He says the traders are still showing $3.49 but you cant buy it for that. If you go to an exchange location the rate will be $3.90. I don't have an explanation for this but this link is to Wells Fargo foreign exchange and I hear Bank of America's site is the same.

Problem is you can buy the kuwaiti dinar from wells fargo but they will not buy it back. Not on their buying list. We definitely want the Iraq dinar to be on the buy back list or we will not be able to sell ours to the banks when it RV's. We do not want the Iraq Dinar to be like the Kuwaiti dinar in that respect.

[Grumpy]

Thank you for all your input, alot to consider

[Ranger77]

My .02 worth on the posible rv rate.

All day long I have sat in chat listening to people come in and out spouting off rumors of $3.86 .04 cheaper than KWD. first of all the rate 1.00 KWD = 3.48675 USD . amazing how easy it was to debunk with one click of the mouse.

IMO and only my opinion, I think we should be looking for a rv anywhere between .10 - the rate of the Euro. Don't get me wrong I would love a $2+ RV but I don't see it happening. First of all Shabibi is a economical genuis, and is going to what is best for Iraq and no one else. I have tried to fight off the notion that anything less than $2 is a joke to Iraq and would embarrass them. Here is why I disagree, why would they RV so we could cash in the 20+ trillion dinars back in when they can just as easily rv at let say .50 and force a time limit to cash in?

After lets say 60days they have two choices, a second rv or allow the currency to float and climb rather quickly IMO. Its simple math, recieve 70-80% of currency back in at .50 and float. The least amount of currency out, the stronger the currency.

Lets hear your opinions.

Between .10 and .20 to start. People will be making a mass exodus to the banks to sell.

[palmtreeak]

Don't you just hate it when logic is usually the best answer. All kidding and emotions aside your statement makes great since.

[Show Me th' $$$]

miss muffet u r on the money grumpy needs to do some more reading and stop spreading crap

[JollyRancher]

With any RV I will cash in enough to pay off my debts, then hang on to the rest for the market-driven, openly-traded-on-the-FOREX level that will likely bring it up to the pre-war level. The pundits are not going to strip me of the dinar investment before it achieves its destined value.

[sos]

Forget about the dinars owned by the private sector and remember about the millions & billions owned by countries. The higher the rate, the more the Iraqi's can make on the oil they'll be selling to interested countries. A lower rate means they get less for the oil they'll be selling soon.

I am sorry to respond in the negative, but that makes no sense what so ever and the thought of illustrating all the different levels on which it is incorrect leaves me with the same feeling I have just before the start of an Ironman. Peace

[4dinarrv]

My .02 worth on the posible rv rate.

All day long I have sat in chat listening to people come in and out spouting off rumors of $3.86 .04 cheaper than KWD. first of all the rate 1.00 KWD = 3.48675 USD . amazing how easy it was to debunk with one click of the mouse.

IMO and only my opinion, I think we should be looking for a rv anywhere between .10 - the rate of the Euro. Don't get me wrong I would love a $2+ RV but I don't see it happening. First of all Shabibi is a economical genuis, and is going to what is best for Iraq and no one else. I have tried to fight off the notion that anything less than $2 is a joke to Iraq and would embarrass them. Here is why I disagree, why would they RV so we could cash in the 20+ trillion dinars back in when they can just as easily rv at let say .50 and force a time limit to cash in?

After lets say 60days they have two choices, a second rv or allow the currency to float and climb rather quickly IMO. Its simple math, recieve 70-80% of currency back in at .50 and float. The least amount of currency out, the stronger the currency.

Lets hear your opinions.

yeah I would have to agree. I think though that it will come in at .50 to 1.00 and then climb over the next year to the 2+ range

[Squaredaway]

In December I "proposed" a plan for Iraq to RV at a low rate of as little as .10 so that they can start the ball rolling to get their large denomination bills back. The RV at least allows some of us to exchange a few of our dinars to work with while the dinar floats to a higher value from investments by the professional currency traders. In a specified length of time, like 30-60 days, I would suggest that they reval the dinar again or if it floats to higher, acceptable level; i.e., $2.00+ per dinar - to just leave it alone. In that way, too, they they won't be sticking their necks out, now, by revaling at a high rate that they really don't feel comfortable with. The key thing is to RV now!! Whoever is the "announcer" of a reval will be the most popular person in Iraq and will probably be a shoe-in as the next PM of Iraq in the March election.

[mrref]

What I've been thinking all alone. These people (Iraq) are very smart, and you will be surprise the amount of people that will cash in at .04 and if it is .10 it will total chaos. LOL