| Followers | 20 |
| Posts | 661 |
| Boards Moderated | 0 |
| Alias Born | 08/16/2006 |
Wednesday, December 05, 2007 6:47:15 PM
The Iraqi Dinar:
God, is it possible for a company to be any more full of it?? 2 minutes of DD debunks their claims as to the Dinar
http://www.xe.com/iqd.htm
A Little History (the truth)
The official rate of the old Iraq Dinar, $3.22 USD (U.S. Dollars), was set in 1982 by Saddam Hussein. The old Iraq Dinar could not be freely traded, so this rate was never tested or upheld on the world market.
The current Iraq Dinar (IQD) was introduced between October 2003 and January 2004 by the Coalition Provisional Authority in close consultation with financial experts from Iraq and the international community. The IQD is currently valued at a little less than seven hundredths of a US cent. (1 USD = 1460 IQD). The old "Saddam" Dinar has no current value and is worth only what a collector is willing to pay for it.
What's Happening Now?
The IQD is not freely traded, and is not being used in any significant international transactions. We are unaware of any official bank or foreign exchange office outside of the middle east that will exchange the IQD.
From the SBRV Website (and a complete load of bovine fecal matter)
http://www.sbrvinfo.com/portfolio.html
The Iraqi Dinar was worth $US 3.20 before the United Nations embargo that followed Iraq's 1990 invasion of Kuwait. By August 2002 it was trading at just below 2000 to the US dollar, and by mid-April 2003 it had slipped to anywhere between 3500 and 4000 against the dollar. In July 2003 one US dollar equaled about 1,500 Iraqi Dinars.
Economic life is steadily appreciating in value. Since October 15th, the start of the Iraqi Currency Exchange (ICE), the new Dinar’s worth has risen by 25%. “A secure currency will provide a firm foundation for Iraq ’s future.” After two years of economic decline, the World Bank Group estimates that Iraq's GDP (Gross Domestic Product) will rebound by 33 percent this year.
God, is it possible for a company to be any more full of it?? 2 minutes of DD debunks their claims as to the Dinar
http://www.xe.com/iqd.htm
A Little History (the truth)
The official rate of the old Iraq Dinar, $3.22 USD (U.S. Dollars), was set in 1982 by Saddam Hussein. The old Iraq Dinar could not be freely traded, so this rate was never tested or upheld on the world market.
The current Iraq Dinar (IQD) was introduced between October 2003 and January 2004 by the Coalition Provisional Authority in close consultation with financial experts from Iraq and the international community. The IQD is currently valued at a little less than seven hundredths of a US cent. (1 USD = 1460 IQD). The old "Saddam" Dinar has no current value and is worth only what a collector is willing to pay for it.
What's Happening Now?
The IQD is not freely traded, and is not being used in any significant international transactions. We are unaware of any official bank or foreign exchange office outside of the middle east that will exchange the IQD.
From the SBRV Website (and a complete load of bovine fecal matter)
http://www.sbrvinfo.com/portfolio.html
The Iraqi Dinar was worth $US 3.20 before the United Nations embargo that followed Iraq's 1990 invasion of Kuwait. By August 2002 it was trading at just below 2000 to the US dollar, and by mid-April 2003 it had slipped to anywhere between 3500 and 4000 against the dollar. In July 2003 one US dollar equaled about 1,500 Iraqi Dinars.
Economic life is steadily appreciating in value. Since October 15th, the start of the Iraqi Currency Exchange (ICE), the new Dinar’s worth has risen by 25%. “A secure currency will provide a firm foundation for Iraq ’s future.” After two years of economic decline, the World Bank Group estimates that Iraq's GDP (Gross Domestic Product) will rebound by 33 percent this year.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
All that is necessary for the triumph of evil is that good men do nothing. - Irish philosopher and Statesman Edmund Burke
