Iraqi dinar currency

[dominowinner]

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.

Thespeculators 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?

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[144kbgg]

When does fiscal 2011 begin? Is it safe to assume that fiscal 2011 begins July 1?

[TC987]

If I'm not mistaken this article with "93 billion" was debunked as an error, as other articles came out at the same time stating "93 Trillion" which places the price per dinar back at the .000855 rate that it has been for the last several years.

It is a positive step that the cabinet is approved, and that the economy in general is improving. The stronger Iraq is the stronger their currency will grow ~ JMHO

Edited May 11, 2011 by TC987

[Camelspiderman]

Is this a legit news article? Link please.

[dominowinner]

yes i see where the date is in jan.

it

dinartrade.org

[tim5400]

i think they are hiding the real numbers as to disuade any investment in the dinar..jmo.....can trust them...yet..

[Islandgirl7]

I'm lovin' this....would like to see the full article....thanks for posting.... GO RV!!!!!!

This is from the Breitling Chat posted on 5/8/11... Hmmmmm looks like potential confirmation...yes? no? maybe?

"429: Breit, are you still firm on the .86 to the Euro number? Seems to me that if they want to replace these “valuable” currencies that they already have in use, they’d want to go higher.

Breitling: my best guess is .86 to the euro. GUESS is the key word. they can do many things to get a higher rate… so i am open minded about all rates"

I'm reading this and wondering if it appears to anyone else that these peope are saying that Iraq may be comparing the Dinar to the Euro instead of the USD. If this is the case we could be potentially looking at $1.23. Don't bash please just asking a question..looking for opinions....

1 Euro = 1.43 USD

1.43 x .86 = 1.2298

Possible? Probable? GO RV!!!!

Read more:

[RicknSaudi]

This sounds so much like dialogue that was beaten to death months ago.