FROM U.S. CHINA BASED BUSINESS MAN-"YOU REALLY NEED TO UNDERSTAND WHAT HE IS SAYING”-SQ - SQ IS STEVE QUAYLE
1.) Our US based Clients have recently begun negotiating/implementing changes to the terms of our Purchasing Agreements that will allow them the ability to pay in currencies other than the US Dollar. Usually, the most requested forms of payment are now in either RMB/Yuan, Euros, Rubles, or Dinars.
2.) Tied to this, we have also noticed that our US based Clients are relocating their payment centers out of the US, usually from New York. Instead, we are now being told that we will need to be invoicing our US Clients through their new payment offices, located in such places as Dubai, Singapore or more times than not; Hong Kong. Also, those same individuals/Department VPs, usually based out of New York, we are now finding, have also suddenly relocated to these various countries in order to set up their new payment centers. DUBAI DOESN'T USE THE DINAR IT USES THE United Arab Emirates Dirham.
The companies involved are household names.
So if they are starting to diversify their payment centers away from using US Dollars, we (meaning I and my Chinese partner), can only assume that they know something is coming and that being tied to a US Dollar based transaction could place them at a competitive disadvantage.
List of Countries (BELOW) that use Dinar as currency. ONLY 3 OF THE COUNTRIES WOULD BE USED IN MY OPINION AND THAT BEING IRAQ, JORDAN, AND KUWAIT. KUWAIT IS FAIRLY STABLE, JORDAN IS SOMEWHAT STABLE AND THE IMF AND WORLD BANK ARE WORKING FEVERISHLY WITH THE IRAQ CENTRAL BANK TO GET IT ART. 8 COMPLIANT AND INTERNATIONALLY USED - WE COULD BE SEEING SOMETHING SOONER THAN LATER. DON'T FORGET CITI BANK IS THERE, MIDDLE EASTERN BANKS ARE ALSO IN IRAQ AND THE CBI JUST ANNOUNCED THAT IT ARRANGED FOR A CURRENCY EXCHANGE RATE WITH BANKS UNION BETWEEN USD-IQD. THE IRAQI GOV. SAID THEY WOULD ANNOUNCE THE CREDIT RATING IN JULY AND THEY ARE ABOUT TO ISSUE INTERNATIONAL BONDS.
Category: General Knowledge.
The following is a List of Countries That have Dinar as currency.
Sl.No. Countries That have Dinar as currency
Republic of Macedonia