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UN rate changes


Miny
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I found something strange and wanted to know if anyone has any thoughts on this. I check the UN rates of exchange a few days before the 1st and 15th over each month hoping to see a change in the dinar. Most every time I look there are several rates changing but very slightly. This time there are only 2 and if you look at the history you will notice that they both changed quite a bit. Any thoughts???

Iran IRR Iranian Rial 11,702.0 15 Jun 2011

Myanmar MMK Myanmar Kyat 710.0 15 Jun 2011

Historic Rates

IRR (Iranian Rial)

Used in the following countries: Iran

Operational Rate Effective Date

11,702.0 15 Jun 2011

10,567.0 01 Jun 2011

10,404.0 01 May 2011

10,375.0 01 Apr 2011

10,290.0 01 Mar 2011

10,319.0 01 Feb 2011

10,338.0 31 Dec 2010

10,340.0 01 Dec 2010

10,385.0 01 Nov 2010

10,280.0 01 Oct 2010

10,467.0 01 Sep 2010

10,410.0 01 Aug 2010

Historic Rates

MMK (Myanmar Kyat)

Used in the following countries: Myanmar

Operational Rate Effective Date

710.0 15 Jun 2011

825.0 01 Jun 2011

851.0 01 May 2011

884.5 01 Apr 2011

889.0 01 Mar 2011

865.0 01 Feb 2011

851.0 31 Dec 2010

875.0 01 Dec 2010

820.0 01 Nov 2010

872.0 01 Oct 2010

960.0 01 Sep 2010

955.0 01 Aug 2010

960.0 30 Jun 2010

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Iran pretty much doesn't trade with anyone but Russia, France and a few ME countries but it is strange with all of the QE programs and the obvious loss in value of the dollar that the rial is falling theat much off. This should be a country with a steady revenue stream from oil. Is there something that we missed in Iran????? Side note: Iran's rate is almost exactly 10 times that of Iraq's and they say are going to lop 4 zeros this year.

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Iran pretty much doesn't trade with anyone but Russia, France and a few ME countries but it is strange with all of the QE programs and the obvious loss in value of the dollar that the rial is falling theat much off. This should be a country with a steady revenue stream from oil. Is there something that we missed in Iran????? Side note: Iran's rate is almost exactly 10 times that of Iraq's and they say are going to lop 4 zeros this year.

You had to go & add a depressing side-note...

Also, if I remember correctly, Iran only accepts Euros for oil/crude sales???

They do not want any USD in their foreign cash reserves.

I think most of their oil contracts have been done with China.

Would make sense, since we consider/view them as a threat.

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You had to go & add a depressing side-note...

Also, if I remember correctly, Iran only accepts Euros for oil/crude sales???

They do not want any USD in their foreign cash reserves.

I think most of their oil contracts have been done with China.

Would make sense, since we consider/view them as a threat.

Actually I consider each country to be their own separate entity- so depressing - I guess only if you hold Iranian rial and are expecting a RV :lol:. But Darin, you bring up a good point about Iran. If they trully only get Euro for oil sales, then why would their currency slide lower against the dollar? The Euro's value is much higher and has increased against the dollar something like 28% in the last year. Seems very fishy, unless of course the world is looking at possible defaults of Greek debt (or Ireland, etc.) and thinking that the Euro would slide, but rates are supposed to be indicative of today's value - not speculation. Very interesting indeed.

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