Central Bank announces increase in currency reserves to more than 76 billion dinars

[yota691]

Central Bank announces increase in currency reserves to more than 76 billion dinars

 

    10/06/2013 - 12:38 | Source:         Economy and Business     192 views       Editor:    Ammar al-Ani  

 

And Central Bank Governor Abdul Basit Turki Agency

 

 

    Alsumaria News / Baghdad 
said the Iraqi Central Bank, on Sunday, the high reserves of hard currency to more than $ 76 billion, confirming that it is the largest in the history of Iraq. said the central bank governor Agency Abdul Basit Abdul Samad said in an interview for "Alsumaria News", that " reserves of the Central Bank of Iraq's hard currency rose to 76 billion and $ 500 million after it was 74 billion dollars by the end of last May, "noting that these" reserves, which reached 15 minutes before now, is the largest in the history of Iraq. " said Abdul Samad that " This rise will increase confidence in local currency and will increase stability, "adding that" the Iraqi currency has become strong due to high bank reserves. " It was the Iraqi Central Bank had announced, last May, the arrival of the size of its reserves of hard currency to $ 74 billion, indicating That represents the highest rate up to the bank of the currency in the history of Iraq. central bank held the Iraqi daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, excluding public holidays on which depends the World Bank for these auctions, and be sales either in cash or in the form of Sold remittances abroad for a certain commission.

Edited October 6, 2013 by yota691

[blueskyline]

Thank You Greatly Yota . For All you do.  "the Iraqi currency has become strong do to high bank reserves"

[yota691]

one more Central Bank announces increase in currency reserves to more than 76 billion dinars

10/06/2013 12:47

 
Central Bank of Iraq, Sunday, the high reserves of hard currency to more than $ 76 billion, confirming that it is the largest in the history of Iraq. said the central bank governor Agency Abdul Basit Abdul Samad said "reserves the Iraqi Central Bank foreign currency rose to 76 billion and 500 million after it was 74 billion dollars by the end of last May, "noting that these" reserves are the largest in the history of Iraq. " said Abdul Samad "This rise will increase confidence in local currency and will increase stability," adding that "the Iraqi currency has become a powerful due to high bank reserves. " It was the Iraqi Central Bank had announced, last May, the arrival of the size of its hard currency reserves to $ 74 billion, noting that it represents the highest rate up to the bank of this currency in the history of Iraq.

[jeepguy]

Thank You Greatly Yota . For All you do.  "the Iraqi currency has become strong do to high bank reserves"

ahhhhhh  I don`t know blue sky,  the Iraq currency is stronger part ,,,  if they are sure of the numbers { which I had thought we read, had been at over 80 billion , }  what are they sitting on the dinars for , as in values,  I am probably wrong , but when this all pans out we might find the new lower notes have been printed a while back,,,  someone here on vets site , has stated that maybe they are using all this new information about currency and wealth as a platform for the elections coming up ,,,   if they wish to make a statement for a great platform hit that re-value button too the 1 too 1  ,  or greater values ,  and see how the public falls in behind the party ...      thanks yota for the morning news

uhhhhh  ,,,   again yota pops in with another    --->  " the rise in the coffers will bring confidence in the local currency "   this guys are dreaming ----------  how can you have faith in something so worn out , take a look at those old worn out notes they are passing around -- turki ,,, again  pass out those lower new notes with a 1 too 1 value ,  get a hold of this confidence    ---  IT IS TIME

[yota691]

Central Bank announces increase in currency reserves

 

10/06/2013 | (Voice of Iraq) - Add a comment - 

 

Central Bank of Iraq, Sunday, the high reserves of hard currency to more than $ 76 billion, confirming that it is the largest in the history of Iraq. 

transfer Center Brief for the Iraqi Media Network, the governor of the central bank and agency Abdul Basit Abdul Samad as saying that "central bank reserves Iraq's hard currency rose to 76 billion and $ 500 million after it was 74 billion dollars by the end of last May, "noting that these" reserves are the largest in the history of Iraq. " 

said Abdul Samad "This rise will increase confidence in local currency will also increase the stability" , adding that "the Iraqi currency has become strong due to high bank reserves." 

It was the Iraqi Central Bank had announced, last May, the arrival of the size of its reserves of hard currency to $ 74 billion, noting that it represents the highest rate up to the bank of this coin In the history of Iraq.

 

[PrettyKitty]

Thanks for the read & post:  However, I thought they didn't post anything regarding $$$$$$$?   Just wonder

[sandstorm]

if only their wasnt this continuous direct relationship between growing reserves and a growing m2.

[waterman13]

74, 76, I thought it was 80 Billion $ ? I say someone doesn't know how much they have actually.

Just sayin'

Wm13

[IQD1217]

I saw the article too where they said it was over 80B!! Thats Iraq for you !!

[localcats]

I thought when they came out with the 80B figure it included there gold. No gold just dinars in this report.

[skeetdog]

Thanks Yota, Always look forward to your post...

[dontlop]

That's only the amount of dollars that sit in the cbi reserves

There's 3 times that circulating in the Iraqi economy on the streets

Just look up Iraqi trade surplus history

There's an additional 200 billion dollars on the streets waiting for de- dollarization policies to be put in place

Oil producing country's always end up with trade surpluses this is why their currency has high values like Kuwait over 3 dollars per dinar

And it's why they get to buy so much military equipment to bring down the trade surpluses

Oil producing countries economies are treated differently

Iraq is no exception

[skeetdog]

Thanks dontlop...(if this ever gets posted)...

[dontlop]

Gimme my money

[ronscarpa]

Thanks DontLop (+)

 

One interesting point that no one has mentioned is that they are talking about ithe Reserves now being 76 Billion DINARS - not - DOLLARS in the article and article titles.  If they said what they mean, and that those same Reserves have reached $80 Billion USD as previously stated - THEN, the IQD is now actually worth $1.05+.....!  Could this be the subtle announcement we have all been waiting for...???     Just think about it...!   RON

THanks for the Articles YOTA (+ s)   

[George Hayduke]

Thanks DontLop (+)

 

One interesting point that no one has mentioned is that they are talking about ithe Reserves now being 76 Billion DINARS - not - DOLLARS in the article and article titles.  If they said what they mean, and that those same Reserves have reached $80 Billion USD as previously stated - THEN, the IQD is now actually worth $1.05+.....!  Could this be the subtle announcement we have all been waiting for...???     Just think about it...!   RON

THanks for the Articles YOTA (+ s)   

I like how you think 

[keepmwlknfny]

That's only the amount of dollars that sit in the cbi reserves

There's 3 times that circulating in the Iraqi economy on the streets

Just look up Iraqi trade surplus history

There's an additional 200 billion dollars on the streets waiting for de- dollarization policies to be put in place

Oil producing country's always end up with trade surpluses this is why their currency has high values like Kuwait over 3 dollars per dinar

And it's why they get to buy so much military equipment to bring down the trade surpluses

Oil producing countries economies are treated differently

Iraq is no exception

Can you show any supporting evidence that there is 200 billion dollars floating in the streets with the citizens?

[tigerstripes]

Can you show any supporting evidence that there is 200 billion dollars floating in the streets with the citizens?

 

Iraq's GDP for 2012 was around US$210B.

Works out to around US$6,000.00 for each person in the country.

 

Is it reasonable to assume that there's that much cash in US$ on the streets?

[keepmwlknfny]

Iraq's GDP for 2012 was around US$210B.

Works out t))

Is it reasonable to assume that there's that much cash in US$ on the streets?

What makes you think that the money the country pulls in from its GDP goes right into the hands of itscitizens? To further that, what makes you think Iits physical USD? All the oil revenue that comes in is switched from USD to dinar. And thats pretty much electronic. So what makes any other money coming in different?

[tigerstripes]

What makes you think that the money the country pulls in from its GDP goes right into the hands of itscitizens? To further that, what makes you think Iits physical USD? All the oil revenue that comes in is switched from USD to dinar. And thats pretty much electronic. So what makes any other money coming in different?

 

 

Sorry - maybe my sarcasm indicator was a little off.

[keepmwlknfny]

Sorry - maybe my sarcasm indicator was a little off.

I wasnt trying to to be rude or anything. I was honestly asking why you were saying what you did.

Did I miss something lol....

[yota691]

Thanks DontLop (+)

 

One interesting point that no one has mentioned is that they are talking about ithe Reserves now being 76 Billion DINARS - not - DOLLARS in the article and article titles.  If they said what they mean, and that those same Reserves have reached $80 Billion USD as previously stated - THEN, the IQD is now actually worth $1.05+.....!  Could this be the subtle announcement we have all been waiting for...???     Just think about it...!   RON

THanks for the thoughts RON (+ s)   

Back at ya...

[tigerstripes]

I wasnt trying to to be rude or anything. I was honestly asking why you were saying what you did.

Did I miss something lol....

 

I was attempting (rather badly it would seem), to say that it seems unreasonable to accept that the total value of a country's GDP would be circulating in cash on the streets.  As dontlop indicated that there are US$200B (US currency), the value of currency in "hard cash" would actually be a bit greater than the GDP as we know that there are a few trillion dinars out there as well.

 

Compare to the US which has a GDP of over $15 trillion with about $1.2 trillion in currency.

 

Yeah, so, anyway.........dontlop, do you have any stats to indicate that the value of US currency on the streets is US$200B?

[keepmwlknfny]

I was attempting (rather badly it would seem), to say that it seems unreasonable to accept that the total value of a country's GDP would be circulating in cash on the streets. As dontlop indicated that there are US$200B (US currency), the value of currency in "hard cash" would actually be a bit greater than the GDP as we know that there are a few trillion dinars out there as well.

Compare to the US which has a GDP of over $15 trillion with about $1.2 trillion in currency.

Yeah, so, anyway.........dontlop, do you have any stats to indicate that the value of US currency on the streets is US$200B?

Lol im sorry tiger.....my bad haha didnt catch it! Thought you were saying that it was feasible for thrm to have the amoujt of their GDP in the pockets of the citizens

[tigerstripes]

Lol im sorry tiger.....my bad haha didnt catch it! Thought you were saying that it was feasible for thrm to have the amoujt of their GDP in the pockets of the citizens

 

No worries.  Like I said - Sarcasm Indicator on the fritz.