BNAAGENT Posted January 26, 2011 Report Share Posted January 26, 2011 Many investors are taking a hard look at investing in Iraq. Iraq’s Parliament approved Prime Minister Nouri al-Maliki’s 42-member cabinet. Iraq’s growing stability, hard for many to imagine just a few years ago, now sets the stage for economic development and foreign investment. As the security issues are slowly getting resolved, investors are getting closer to taking the next steps to setting up businesses in Iraq. The crude oil sector, building construction, and air transportation sectors are already making great strides, its only a matter of time until other business sectors move into the country. There are other investors that will continue their investments from outside of Iraq. The Iraqi stock market investors can continue their investments in Iraq with out actually moving there. The Iraqi dinar currency speculators will also be able to continue their type of investment from outside the country. The currency speculators may have something good to look forward to in the near term, during the 2011 fiscal year, as a recent article was published either in error, or by accidental leaking of information pointing to a coming new exchange rate. The recent rate of exchange to the US Dollar has been 1170 dinars to one US Dollar. Here is an excerpt from the recent Iraqi 2011 Budget article that gives possibility to a new exchange rate: “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.” the recent Iraqi 2011 Budget article:http://iraqdailytimes.com/kurdistan-region-of-iraq-can-afford-ten-thousand-employees-for-their-province/ If you do the math, this indicted value of “93 billion Iraqi dinars (79.6 billion dollars)”, would be equivalent to 1.168 Iraqi Dinars to one US Dollar, or .855 Us Dollars to one Iraqi Dinar. Later on in the Iraqi 2011 Budget article, two additional references to the speculative exchange rate are again mentioned, which suggests the same rate of exchange outcome. Now that the budget draft has been approved, how much will this significant change in the exchange rate benefit the 2011 Iraqi Economy? 2 Link to comment Share on other sites More sharing options...
Thor Hammerstein Posted January 26, 2011 Report Share Posted January 26, 2011 Looks good but this amount is for the Kurdistan share of the budget, another excerpt from your article The Undersecretary of the Ministry of Finance of the Government of Iraq, Federal Fadel, a prophet, had told (Rn) last Sunday, “The Kurdistan region could Taataien 25 000 employees in its official institutions, depending on its share of the financial budget for 2011, amounting to 17%.” Link to comment Share on other sites More sharing options...
youliveonce Posted January 26, 2011 Report Share Posted January 26, 2011 Nice post.Thx. Link to comment Share on other sites More sharing options...
fortytwo Posted January 26, 2011 Report Share Posted January 26, 2011 Looks good but this amount is for the Kurdistan share of the budget, another excerpt from your article The Undersecretary of the Ministry of Finance of the Government of Iraq, Federal Fadel, a prophet, had told (Rn) last Sunday, “The Kurdistan region could Taataien 25 000 employees in its official institutions, depending on its share of the financial budget for 2011, amounting to 17%.” Hey, thor... Is there any significance that it is only for the kurdistan region on the exchange rate? Link to comment Share on other sites More sharing options...
Phantom 309 Posted January 26, 2011 Report Share Posted January 26, 2011 Looks like 3 zeros have been deleted from current exchange rate. Link to comment Share on other sites More sharing options...
YorkiePower Posted January 26, 2011 Report Share Posted January 26, 2011 would that apply to us citizens 1 1 Link to comment Share on other sites More sharing options...
Funky Cold Medinar Posted January 26, 2011 Report Share Posted January 26, 2011 WELCOME! The prOOf is in the pudding and the details, nice find, thanks for posting. I think we are very close, and that would not be a bad rate at all. Take care. Countless blessings and endless peace to ALL....GO RV! Link to comment Share on other sites More sharing options...
Darin Posted January 26, 2011 Report Share Posted January 26, 2011 If you round that 0.855 up to two decimal points, you will see that it is $0.86. (Think of, "removing the 3 zeros") Could be a type-o (erorr), because as simple as it would be to just move a decimal point over 3 places, i think a R-V would not just simply remove 3 zeros. 1 Link to comment Share on other sites More sharing options...
kix Posted January 26, 2011 Report Share Posted January 26, 2011 when and where did you read budget has been voted on approved any reliable sources out there ive been saying no budget no rv could this be ANOTHER RUMOR??? Link to comment Share on other sites More sharing options...
Econman33 Posted January 26, 2011 Report Share Posted January 26, 2011 I believe this was debunked before in December. If I remember correctly, the misprint was that one said billion and the other trillion. It was on DV site. That rate would be nice. 1 Link to comment Share on other sites More sharing options...
c5tech Posted January 26, 2011 Report Share Posted January 26, 2011 Original source out of Baghdad, hosted out of Germany Domain Name: swalefnalhelwa.com Registrar: Name.com LLC Expiration Date: 2011-06-27 14:56:42 Creation Date: 2009-06-27 14:56:42 Name Servers: ns1.al-rafidain.net ns2.al-rafidain.net REGISTRANT CONTACT INFO Al-Kureishi Areeb Mohamed Al-Qahira Baghdad Al-Qahira 00964 IQ Phone: +964.9647901611249 Email Address: areeb.mohamed@gmail.com ADMINISTRATIVE CONTACT INFO Al-Kureishi Areeb Mohamed Al-Qahira Baghdad Al-Qahira 00964 IQ Phone: +964.9647901611249 Email Address: areeb.mohamed@gmail.com TECHNICAL CONTACT INFO Al-Kureishi Areeb Mohamed Al-Qahira Baghdad Al-Qahira 00964 IQ Phone: +964.7901611249 Email Address: areeb.mohamed@gmail.com BILLING CONTACT INFO Al-Kureishi Areeb Mohamed Al-Qahira Baghdad Al-Qahira 00964 IQ Phone: +964.7901611249 Email Address: areeb.mohamed@gmail.com Link to comment Share on other sites More sharing options...
muffy Posted January 26, 2011 Report Share Posted January 26, 2011 already been discussed...its a typo.. sposed to be TRILLION dinars not billion.. Link to comment Share on other sites More sharing options...
c5tech Posted January 26, 2011 Report Share Posted January 26, 2011 http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=auto&tl=en&u=www.swalefnalhelwa.com%2Fnews.php%3Faction%3Dview%26id%3D1002 original translated. was posted 1/7/2011 Link to comment Share on other sites More sharing options...
Mojo Posted January 26, 2011 Report Share Posted January 26, 2011 already been discussed...its a typo.. sposed to be TRILLION dinars not billion.. Who is saying its a typo do you have a new link with this corrected info ?? Link to comment Share on other sites More sharing options...
tjmunson Posted January 26, 2011 Report Share Posted January 26, 2011 Who is saying its a typo do you have a new link with this corrected info ?? Do the math again using trillion instead of billion.....what do you get? 1170? It's a typo 1 Link to comment Share on other sites More sharing options...
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