For those currently in Iraq

[tdrt]

Primarily interested in the political climate -- specifically the RV on the dinar. Any updates would be greatly appreciated.

[Gunner 0313]

Pretty sure we've been out of Iraq since the end of January.

[tdrt]

Mainly looking for info on RV. Rumor has it that no more USD to be used in military bases after August 1st, only Iraqi dinar meaning RV imminent

[Gunner 0313]

You'd probably be better off going on TWS and asking a doggie.

[tdrt]

Ok. Thanks.

This is why I want to know:

Prior to invasion, the one Iraqi dinar was worth $3.20 USD. Then the dinar went to hell where now $1 USD = 1168 dinars. Now that's about to change with the formation of the new Iraqi government (once they stop fighting and get their heads out their ass) and the removal of Chapter 7 by the UN. The new currency rate is expected to be 3.06 up to 3.86.

So if you were to purchase 100,000 dinar at the current exchange rate, it would cost you about $140 USD. Once the RV (Revaluation) occurs -- which is very soon -- and if the rate is 3.86, that same 100,000 dinar would be $386,000 USD. See the significance in this?

[Zulu 36]

Pretty sure we've been out of Iraq since the end of January.

Nope. Still a bunch of troops there. Mostly SOF, advisers, trainers, and logs people. I forget how many, but somewhere around 20,000.

[brian0351]

Actually the number is 49,999. The SOFA has us under the 50k limit.

[0231Marine]

I'm in Baghdad currently as a contractor. The current number of troops (military only) is around 75,000. Yes, the plan is to have that number down to 50,000 by September 1st and they are on target to do that. However, that does not include contractors and government civilians.

Regarding the Iraqi Dinar, it is still in the ****ter. I am in the same boat as you though. In 2005, I bought 600,000 dinar for $400. It is an investment where if it pays off, I'll have made a nice piece of change. If it doesn't, then I have a cool memento from my 6 trips out here. Bottom line is that until the Iraqi's set up the new government, we transition out fully and Iraq begins to explore increasing their export capabilities regarding oil and natural resources, the dinar will still remain on the low end. Trading with Iran, Kuwait, Turkey and the western Arab countries will undoubtedly increase that value in the long term though.

Also, it is a false rumor that only dinar will be permitted on base. There are very few places in this world that don't except Mr. Franklin and his friends. I'll be here until May of next year so if anything changes, I'll be happy to report back.

[tdrt]

I'm in Baghdad currently as a contractor. The current number of troops (military only) is around 75,000. Yes, the plan is to have that number down to 50,000 by September 1st and they are on target to do that. However, that does not include contractors and government civilians.

Regarding the Iraqi Dinar, it is still in the ****ter. I am in the same boat as you though. In 2005, I bought 600,000 dinar for $400. It is an investment where if it pays off, I'll have made a nice piece of change. If it doesn't, then I have a cool memento from my 6 trips out here. Bottom line is that until the Iraqi's set up the new government, we transition out fully and Iraq begins to explore increasing their export capabilities regarding oil and natural resources, the dinar will still remain on the low end. Trading with Iran, Kuwait, Turkey and the western Arab countries will undoubtedly increase that value in the long term though.

Also, it is a false rumor that only dinar will be permitted on base. There are very few places in this world that don't except Mr. Franklin and his friends. I'll be here until May of next year so if anything changes, I'll be happy to report back.

Ok. Thanks. I'll PM you with what I've heard.

[metalriff4]

Any news on this , I heard the exchange in the green zone is different now, any input appreciated, thanks todd