Miny Posted June 14, 2011 Report Share Posted June 14, 2011 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 Link to comment Share on other sites More sharing options...
jimanita Posted June 14, 2011 Report Share Posted June 14, 2011 Are these rates VS USD ? Link to comment Share on other sites More sharing options...
pkdancer Posted June 14, 2011 Report Share Posted June 14, 2011 Are these rates VS USD ? yes they are.... Link to comment Share on other sites More sharing options...
Darin Posted June 14, 2011 Report Share Posted June 14, 2011 Riyal is going the wrong way, the other is going the right way. Albeit not by much.... Link to comment Share on other sites More sharing options...
mrref Posted June 14, 2011 Report Share Posted June 14, 2011 nothing to be concern about just a glitch.. Link to comment Share on other sites More sharing options...
lechesuerte Posted June 14, 2011 Report Share Posted June 14, 2011 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. 1 Link to comment Share on other sites More sharing options...
Darin Posted June 14, 2011 Report Share Posted June 14, 2011 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. Link to comment Share on other sites More sharing options...
2fast4u2c Posted June 14, 2011 Report Share Posted June 14, 2011 China is totally a threat! 2 Link to comment Share on other sites More sharing options...
Darin Posted June 14, 2011 Report Share Posted June 14, 2011 China is totally a threat! I was actually referring to Iran. I think they just don't accept USD for payment & refuse to hold any of it within their foreign cash reserves. Link to comment Share on other sites More sharing options...
lechesuerte Posted June 14, 2011 Report Share Posted June 14, 2011 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 . 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. Link to comment Share on other sites More sharing options...
tandy Posted June 14, 2011 Report Share Posted June 14, 2011 Is there any clue in the fact that the elite power brokers have no banking grip in these 2 countries??? just wondering. Link to comment Share on other sites More sharing options...
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