DrMJRandy: It seems Iran is depreciating the value of their currency - Rial/Toma. Iranian Rial1 IRR = 0.0000289780 USD 2017-10-29 01:38 UTC A few days ago it was 32,000 Toma per 1 U.S.D.
Buckeyefan: It's excting to hear about Iran, but it would sure be exciting to hear about the dinar and for this thing to do what it's gonna do................hearing it may take longer, followed by nobody knows so I just figure it's a process.
Red: from the sound of things it may be time to buy more or double down on the Iranian Rial currency, jmvho
Rob: "In an unprecedented move, the Central Bank of Iran has increased the official rate of US dollar by 300 rials on Saturday." Isn't that the opposite why we wnat it to go?
Okie49: I don't think we care about IRAN> It's Iraq that we want to hear from.
DrMJRandy: Those of us invested into the Iranian currency real do care…. We have been told that the Iranian currency the Rial/Toma is in the first basket. It is to be revalued upward. Sure sounds good.
Toyvp: Oil rises 2% and Brent above $ 60 on support for extended cuts
017/10/28 (21:01 PM)
Oil prices jumped nearly 2 percent as the market closed on Saturday. Brent crude rose above $ 60 a barrel on support from major producers to extend a cut-off deal and the dollar slipped from its peak in three months.
"Saudi Arabia and Russia have announced their support for the extension of the OPEC-led supply reduction agreement ahead of the November 30 meeting of the Organization of the Petroleum Exporting Countries, which ends in March 2018," the Organization of the Petroleum Exporting Countries (OPEC) Secretary-General said in a statement.
Brent futures were up $ 1.32, or 2.23%, to close at 60.62, the highest price since July 2015.
US crude <LCOc1> closed up $ 1.53, or 2.91%, to $ 54.17 after climbing to $ 53.98, its highest level since early March.
While OPEC oil prices closed at $ 56.45, compared to Friday's price of $ 56.33.
Oil prices are hovering near their highest levels this year amid signs of market weakness and renewed support this week to extend production cuts and tensions in Iraq.
TNT Weekend UPDATE for October 27-28, 2017
From Friday's reporting:
PM Abadi sends in troops to take territory held by Kurds after refusing to accept any offers other than the cancellation of Kurd action and full respect of the Iraqi constitution. This civil war resulted in some bloodshed and loss of life.
An Iaqi bank source shared that once Iraq is fully liberated, the new rate of $3.71 (or possibly higher) will be self-evident everywhere and that it is already "in place" waiting for public release.
Abadi is steadfastly targeting mid-November or later for full liberation announcement however the military is accomplishing objectives ahead of projected schedules.
Iraqi TV reported that the Kurds were given 4 hours to concede and stand down or fighting would resume....US officials are not happy about that decision.....
With liberation efforts starting on Thursday, a military spokesman has stated that in the coming hours the total liberation of Rawa and Al-Qaim. (That was fast! .....or was it?)