Docneose Posted December 16, 2011 Report Share Posted December 16, 2011 This may put more pressure on Shabibi and Iraq to pull the RV handle Sudden decrease in the rate of the dinar against the dollar is concerned about the Iraqi market Posted: December 16, 2011 in Iraqi Dinar/Politics Tags: Baghdad, Central bank, Central Bank Iraq, Economy of Iraq, Iraq, iraqi, Iraqi dinar, List of banks in Iraq Iraqi businessmen said that the sudden decline of the dinar against the dollar during the past two days off from Kulagafi Find the Iraqi market, resulted in the start of a wave of foreign remittances and increase high levels of foreign exchange. He said the owners of companies and economic institutions in connection with the “arenas of Liberation” on Thursday that the Iraqi dinar has fallen of 1117 dinars to the dollar to 1245 with the central bank cut of the sales of the dollar to less than ten million after it exceeded this figure in the rate of sales day of the U.S. currency about ten times or more. Central Bank building in Baghdad and the Rafidain Bank Businessmen stressed the movement draws vast financial witnessed Iraqi banks during the past two days by the companies and economic institutions as well as merchants and citizens, as they made clear that the simple drawings that institutions were banking imposed on the transfer of funds out of the country have risen to about five times because of the rising popularity of the conversion the money. And linking the economists in the conversations between U.S. withdrawal and the escalation of divisions in the country, and fears that led to the devaluation of the dinar, as well as the country’s vulnerability to a wave of external demands may affect the cash reserve in case Iraqi lift the U.S. out to protect the Fund of Iraq’s money, which was estimated at about two fifths billion dollars. http://bit.ly/v2Bpeu 6 Link to comment Share on other sites More sharing options...
fnbplanet Posted December 16, 2011 Report Share Posted December 16, 2011 Well, there's a cure for falling dinar value....... 1 Link to comment Share on other sites More sharing options...
patriotic party girl Posted December 16, 2011 Report Share Posted December 16, 2011 WOW great post thanks so much it is just getting better and better .... lovin all the good news today Link to comment Share on other sites More sharing options...
lotsofdinar Posted December 16, 2011 Report Share Posted December 16, 2011 I'm not clear how this is good news. That's not the direction the dinar should be going after all the good news lately. 3 Link to comment Share on other sites More sharing options...
Striker1 Posted December 16, 2011 Report Share Posted December 16, 2011 I wonder how this will affect their inflation? Link to comment Share on other sites More sharing options...
Nelg Posted December 16, 2011 Report Share Posted December 16, 2011 Revaluing will strengthen the dinar. Link to comment Share on other sites More sharing options...
balkanbob Posted December 16, 2011 Report Share Posted December 16, 2011 Looking good. Now maybe greed will help us out. Iraq will need to do something soon. Link to comment Share on other sites More sharing options...
lotsofdinar Posted December 16, 2011 Report Share Posted December 16, 2011 "Revaluing will strengthen the dinar." While that's true, I don't understand why, when they are struggling to get investors into their country, they would revalue now and make foreign investment more expensive, thus less desirable. Certainly the value of the dinar will increase over time. But doing it suddenly right now doesn't seem to make sense. 2 4 Link to comment Share on other sites More sharing options...
leanonme Posted December 16, 2011 Report Share Posted December 16, 2011 The US dollar has gained value the past few days. I think that is the cause for the fluctuation. Don't get to excited yet. 2 Link to comment Share on other sites More sharing options...
Jaxinjersey Posted December 16, 2011 Report Share Posted December 16, 2011 "Revaluing will strengthen the dinar." While that's true, I don't understand why, when they are struggling to get investors into their country, they would revalue now and make foreign investment more expensive, thus less desirable. Certainly the value of the dinar will increase over time. But doing it suddenly right now doesn't seem to make sense. That's why we're here... for a potential RV! Investors want a higher value dinar, not an undervalued currency. So, now is the time... Link to comment Share on other sites More sharing options...
lotsofdinar Posted December 16, 2011 Report Share Posted December 16, 2011 Investors want a higher value dinar" No, they don't. They want to get in for as little as possible, to reap the maximum rewards later. If I can buy some land and build a refinery in Iraq now for $10 billion, why would I hope for an RV that would mean it would then cost me $10 trillion to buy my land and build my refinery? Your reason for wanting an immediate RV is because you are investing in the currency, and it is the exact opposite of what someone investing in the country would want. I've been investing in currencies for a long time. A lottery mentality never works. You want the country to succeed so that the value of their currency increases over time. I always invest with a ten year time frame in mind. YMMV, of course. 2 3 Link to comment Share on other sites More sharing options...
Rome M Posted December 16, 2011 Report Share Posted December 16, 2011 Oanda is still showing 1161 Link to comment Share on other sites More sharing options...
rvb4jan1 Posted December 16, 2011 Report Share Posted December 16, 2011 RV, Shabbibi!! 1 Link to comment Share on other sites More sharing options...
FrankenSLI Posted December 16, 2011 Report Share Posted December 16, 2011 The fluctuation is just from the increase in USD value. Wasnt there an article 2 days ago stating the dinar was getting stronger and more valuable? The next article we see will say the opposite again so lets stay calm and enjoy our holidays. Happy Holidays and GO RV! Link to comment Share on other sites More sharing options...
Alex38 Posted December 16, 2011 Report Share Posted December 16, 2011 I love how everyone "in the know" is claiming that the IQD is the STRONGEST currency in the ME.... Uhhh... Is that a joke??? Cause the way I see it, its NOT.... yet Link to comment Share on other sites More sharing options...
4aprofit Posted December 16, 2011 Report Share Posted December 16, 2011 Or is this just a smokescreen possbily before a revalue???...lol...I like it!!! 1 Link to comment Share on other sites More sharing options...
Alex38 Posted December 16, 2011 Report Share Posted December 16, 2011 Or is this just a smokescreen possbily before a revalue???...lol...I like it!!! I like the way you think!!!! Link to comment Share on other sites More sharing options...
yota691 Posted December 16, 2011 Report Share Posted December 16, 2011 I'm not clear how this is good news. That's not the direction the dinar should be going after all the good news lately. troops leaving, it time 2 show your cards. They did say they was open for business. Link to comment Share on other sites More sharing options...
yota691 Posted December 16, 2011 Report Share Posted December 16, 2011 Investors want a higher value dinar" No, they don't. They want to get in for as little as possible, to reap the maximum rewards later. If I can buy some land and build a refinery in Iraq now for $10 billion, why would I hope for an RV that would mean it would then cost me $10 trillion to buy my land and build my refinery? Your reason for wanting an immediate RV is because you are investing in the currency, and it is the exact opposite of what someone investing in the country would want. I've been investing in currencies for a long time. A lottery mentality never works. You want the country to succeed so that the value of their currency increases over time. I always invest with a ten year time frame in mind. YMMV, of course. lol you might read what you type again, imo value rise u have more in your pocket. you take $10 Usd billion an get $10 billion Iqd which one you gonna have to get more of. Link to comment Share on other sites More sharing options...
mrref Posted December 16, 2011 Report Share Posted December 16, 2011 I'm not clear how this is good news. That's not the direction the dinar should be going after all the good news lately. WOW haven't you heard the RV will fall before it rises, this is great news.... 4 Link to comment Share on other sites More sharing options...
tkeaton Posted December 16, 2011 Report Share Posted December 16, 2011 I love how everyone "in the know" is claiming that the IQD is the STRONGEST currency in the ME.... Uhhh... Is that a joke??? Cause the way I see it, its NOT.... yet I'm with you, Alex. Every time I see something touting the strength of the dinar I just scratch my head. Are we missing something here...? 1 Link to comment Share on other sites More sharing options...
carolinadukegirl Posted December 16, 2011 Report Share Posted December 16, 2011 Maybe this story will help explain how it works: When my son was a junior in high school, he was a foreign exchange student in Germany. They were still using the Deutsch mark at that time. And at the beginning of his year, the mark was very strong against our dollar. Let's just say it was 3:1, meaning it took three of our dollars to buy one mark. If he was used to having $500 (This is just for illustration, guys.) a month for his spending money, then I needed to wire 3 times the number of our dollars ($1500) to his Deutsch Bank in order for him to be able to get the equivalent of 500 of our dollars in marks. It cost me a LOT of our dollars for him to have the same buying power in Germany that he had here in the states. But by the spring, the mark had weakened against our dollar. Let's just say it was now 2:1. It only took 1000 of our dollars to give him the same buying power in marks as $500 here in the U.S.. It was better for me, but still bad in how much I had to wire him each month. Now, if we were the German parents wanting to send our son or daughter who is the U.S. spending money for the month, and let's say that child was used to having enough money to be able to spend what $500 here would purchase, then at the beginning of the year, we would have only had to wire 166.67 marks for them to have $500 here. Their mark was a lot stronger against our dollar. It bought more. Then at the end of the year, the dollar got stronger and the mark was weaker so that we had to wire 250 of our marks for our child to have the same amount of spending money. Thus, if the dinar is not as strong against our dollar (1 of their dinars for 2 of our dollars), then it takes less of our dollars to buy the same amount of goods as it would if their dinar is strong against our dollar (1 of their dinars for 3 of our dollars) just like my situation at the beginning of my son's year. So if we wanted to trade our dinars for dollars, do we want the dinar to be weaker so that we get $2 back or do we want the dinar to be stronger so that we get $3 back? I would prefer the stronger dinar. It would certainly buy more dollars than a weaker dinar. But an equal strength dinar to dollar or $1 dollar for 1 dinar would be just great, too. But if the dinar weakens in relation to the dollar, then we won't get as much $$$$ for our dinars. So maybe that will help. When I received my dinars, they were worth $0.012 or one point two cents, a really weak dinar against our dollar. I want that dinar to be stronger against the dollar so that I will get more dollars back when I give them 1 dinar. Now, I am not an ecomonist, so if I've mixed this up, please tell me how I need to change my thinking on the matter. But with my son for my own experience in changing international currency, it seems that this illustration makes sense. cd 1 Link to comment Share on other sites More sharing options...
bjdksl Posted December 16, 2011 Report Share Posted December 16, 2011 if the IQD is at a going rate of 1245 to the US dollar, then is it not the time to buy, buy low , sell high is the theme , right? Link to comment Share on other sites More sharing options...
Luigi1 Posted December 16, 2011 Report Share Posted December 16, 2011 if the IQD is at a going rate of 1245 to the US dollar, then is it not the time to buy, buy low , sell high is the theme , right? You can buy more IQD per Dollar. That makes it even more worthless. We want it to go the other direction. 3 2 Link to comment Share on other sites More sharing options...
cbs71 Posted December 16, 2011 Report Share Posted December 16, 2011 You can buy more IQD per Dollar. That makes it even more worthless. We want it to go the other direction. You are right...we want that 1170 number to go down.....not up! 1 1 Link to comment Share on other sites More sharing options...
Recommended Posts