Rate of Exchange

[BrokeNoMore]

I am curious about how this is working out for everybody who is depositing to Warka.

I'm wondering if the rate of exchange is fluctuating daily as exchange rates tend to between Canada and US, or if it's stable.

I'm also wondering if I saved any money (fees) by depositing my USD directly to my IQD account. I bypassed the USD account in Warka and wired directly to my IQD because 1) I wondered if it would work and 2) I wondered if it would save the 3% fee I read about for transfers on the website.

Anyone have any experience or thots on this?

My first deposit, not including wiring fees obviously, exchanged at 1 USD to .0008735 IQD. Frankly, I expected more.

[BrokeNoMore]

bump

[bahtman]

I sent money directly to my USD account and then transferred to my IQD account. You will receive 1175 dinar per US dollar. If you were to transfer back to your USD account, at this time, it would cost you 1183 dinar to transfer for 1 US dollar.

It's been 3 years so I don't remember any substantial fees.

Every 6 months at the end of June and the end of December they will pay you 3.5% interest on deposits ( in other words, 7% per year).

Again I am not familiar with any 3% fee.

[BrokeNoMore]

Oops. I have a little trouble with the math. That was .0008735 Dollar for every Dinar.

Which worked out to 1144 dinar per dollar.

Which is quite a bit less than Bahtman said. Have they lowered the rate?

[BrokeNoMore]

Anybody else with more recent transaction experience?

[BrokeNoMore]

bump

[unirod]

I sent money directly to my USD account and then transferred to my IQD account. You will receive 1175 dinar per US dollar. If you were to transfer back to your USD account, at this time, it would cost you 1183 dinar to transfer for 1 US dollar.

It's been 3 years so I don't remember any substantial fees.

Every 6 months at the end of June and the end of December they will pay you 3.5% interest on deposits ( in other words, 7% per year).

Again I am not familiar with any 3% fee.

Thanks Bahtman, I have tried to E=Mail Warka asking how interest is paid on my account. Looking forward to my December statement.

[haymon]

Just for information, Take a copy of your statement before the interest is applied, they do not give you any records of pasted statements. I wish I had a copy before the last interest payment. Then I could see what I started with.