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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by IQD4US on Tue Oct 09, 2012 2:33 pm

Iraqi central bank decided to modify the timing of the start of the implementation of the restructuring of the Iraqi currency project and the deletion of zeros, stressing that it completed the bulk of the action, among the new currency in circulation must be the beginning of the calendar year where it has been determined to begin implementation and not through it.

The bank said in a statement that the requirements of coordination and cooperation with the legislative and executive branches led to modify the timing of the start of implementation. "The bank said that" this project is of vital importance to the country's economy.

Oct 8 2012 04:46


Last edited by IQD4US on Tue Oct 09, 2012 2:34 pm; edited 1 time in total (Reason for editing : add date)
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by SEBtopdog on Tue Oct 09, 2012 3:10 pm

So, IQD4US, do I understand correctly: Most of the work has been completed already, and the rest of it must be done by 1/1/13? I have so much trouble with these translations.

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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Emoticon-animal-028
 
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Bump~0 Will someone please let the RV Widget out of the jar?
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by IQD4US on Tue Oct 09, 2012 3:24 pm

As I read it - most of the work is done, BUT, as I suspected from a financial reporting position, needs to be done at the change of a set fiscal time.

To properly report it would need to be the beginning of a month AND be a beginning of a fiscal reporting Quarter - which since not done ON October1, would then mean not unitl January 1.

This does fall in with what Shabibi has been saying, and the information about the next years budget being written in the new currency value.

I also found the article where CBI lays claim to adjusting and holding the Dinar at 1.18 to the Dollar, but it does NOT say whether it is 1 USD = 1.18 IQD or 1 IQD = 1.17 USD. I assume the former.

So we wait, as I don't see any possible way for us to see true value of this investment until 01/01/13 or later.
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by SEBtopdog on Tue Oct 09, 2012 3:30 pm

And so we wait some more. We're getting pretty good at this patience thing, aren't we? Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    490529750 Razz

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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Bump~0 Will someone please let the RV Widget out of the jar?
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by Terbo56 on Tue Oct 09, 2012 3:33 pm

Molasses ain't got nuthin' on those 'brownbreads'-Rolling Eyes Suspect
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by Terbo56 on Tue Oct 09, 2012 7:27 pm

For the new currency, yes, but the RV will be before that-Twisted Evil Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2203778411 Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2032510400
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by Guest on Tue Oct 09, 2012 8:00 pm

@terbo56 wrote:For the new currency, yes, but the RV will be before that-Twisted Evil Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2203778411 Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2032510400

Doubt it! JANUARY 2013!!!

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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by Terbo56 on Tue Oct 09, 2012 8:04 pm

I have no doubt about this month- Checkout dinarrecaps and read TerryK, Get team chat, and you'll see what I mean, OK?:shock:
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by Guest on Tue Oct 09, 2012 8:25 pm

I have made peace with the fact that if there is going to be an rv...it will be in JANUARY 2013!

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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by SEBtopdog on Tue Oct 09, 2012 8:50 pm

Whatever brings you peace, punisher, then that's what you should go with. I feel like we've had our hopes dashed so many times, it's best to slip into whatever mode makes you comfortable. For me, my protection is to read what the 'roos say on Recaps and say "Yeah....Right." If my expectations are low, it keeps my emotions on a more even keel. But I'm ever hopeful.

Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    1150991001

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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Bump~0 Will someone please let the RV Widget out of the jar?
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by Guest on Tue Oct 09, 2012 8:54 pm

Well JANUARY isnt really that far...just gotta make it through the crazy HOLIDAYS, argh lol.

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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by SEBtopdog on Tue Oct 09, 2012 8:55 pm



Thought you might enjoy this. We have to have faith, but a little skepticism is OK, too. Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2586672709

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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Emoticon-animal-028
 
Keep smiling ... It'll make 'em wonder what you're up to!
 

Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Bump~0 Will someone please let the RV Widget out of the jar?
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by Guest on Tue Oct 09, 2012 9:18 pm

I still have faith this will happen ...just not until JANUARY 2013...I would love to be proven WRONG Wink

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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by Kevind53 on Tue Oct 09, 2012 10:34 pm

One of my all time favorite bits Sebbie ... Thanks! Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2218296283

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 Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2805820865  Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2805820865  Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2805820865  Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    2805820865
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by IQD4US on Wed Oct 10, 2012 1:21 am

OK - to clarify. I NEVER said it could NOT adjust in value. Notice here I said adjust. Since there is mention of the free float system, and putting out currency with less zeros - it IS possible to see the adjustment in value happen BEFORE Jan 1 - HOWEVER..I believe it will rise slowly - albeit it may have a quick jump start.

Now given the mention of the 1.18 - and NOT knowing which direction they were speaking of in the article, I have to rely on other signs. My first is to jump to the SIGIR report. It says the change would make the dinar worth slightly less than the USD - but this was not coming from an economist. They are probably unaware that todays current value of the USD = .8008, and that is up from a 5 day low of .7930 . In the last 52 weeks the low was .7490 and the high .8405 . Soooo...

I believe the 1.18 means 1 USD will buy 1.18 IQD 1 M IQD would equal 847,457.63 - minus exchange fees of 1-3% (we will use 1.5% as an average) which would be -12711.86 for a net of 1M IQD = 834,745.76 (minus taxes of course) Do you really want me to do the tax estimatation ....???? uh no you don't.

The issue is - WHEN will they stop using the "program rate" they have in place with IMF. Right now that is dictating much of their financial dealings as far as US seeing any changes.

I see where in Saudi, Kuwait, Turkey etc - the Dinar is upwards of 1 USD only being worth 1225 + IQD. I realize there is an "exchange fee"...but that seems high. The IQD is still considered an "iffy" currency even in thier demographic.

But one thing is for sure - the change in value - even from changing the program rate to a free float system - NEEDS for financial accounting reasons - to coincide with at least a new month. Since October is here, and November the 1st is Thursday - December 1st is a Saturday where the change could be made without fiscal reporting "interptus". Possible?? Sure - let the citizens an merchants "get the feel" before full enactment or serious increase in value.

But for me - I"ll hope for the best and expect the worst - lessens the disappointment. I don't expect any value change for us until after Jan 1.


Therapist sets a glass of water on the table and asks "Are you an Optimist or a Pessimist"? Patient thinks for a moment, reaches out - grabs the glass - and drinks the water. After setting down the glass the patient says "I'm a problem solver".

Well I can't solve this problem they have with dragging thier feet - but I can look at the financial reasoning and political issues to come up with a partially informed guess - and this is what I have done. JMHO - no more - no less.
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Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project    Empty Re: Baghdad central bank decides to change the timing of the implementationof the restructuring of the Iraqi currency project

Post by Guest on Wed Oct 10, 2012 1:29 am

Thanks for that view...so you and I are in the same boat...JANUARY 2013!

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