Governor of the Bank: Ahtiatatna of hard currency and very good cover of the Iraqi dinar to 150%

[yota691]

Governor of the Bank: Ahtiatatna of hard currency and very good cover of the Iraqi dinar to 150%

 

Tuesday 3 March 2015 11:40

 

 

 

 

 

 

 

 Alsumaria News / Baghdad 
showed the central bank governor on the Keywords, on Tuesday, was surprised at the statements of some officials about the low reserves of hard currency, stressing that Iraq does not suffer from any decline and has good revenue and there are no concerns, as pointed out that the Iraqi dinar is covered by 150 % of hard currency. followed ..

 

[jeepguy]

sandfly yota  ------   looking too read  the next  imput of information on this   post !   at 1165  are they  saying  an improvement of 150 %    or  just  currency is backed  by 150 %  of  hard  reserve  ?

[sandfly]

THANKS YOTA

[yota691]

Governor of the Bank: Ahtiatatna of hard currency and very good cover of the Iraqi dinar to 150%

 

Awan news agency

03/03/2015 11:57

 

Awan / Baghdad 

Showed the central bank governor on the Keywords, on Tuesday, was surprised at the statements of some officials about the low reserves of hard currency, stressing that Iraq does not suffer from any decline and has good revenue and there are no concerns, as pointed out that the Iraqi dinar is covered at 150% of the Currency difficult.

[yota691]

Governor of the Bank: Ahtiatatna of hard currency and very good cover of the Iraqi dinar to 150%

Tuesday 3 March 2015 11:40

 

 Alsumaria News / Baghdad 

showed the central bank governor on the Keywords, on Tuesday, was surprised at the statements of some officials about the low reserves of hard currency, stressing that Iraq does not suffer from any decline and has good revenue and there are no concerns, as pointed out that the Iraqi dinar is covered by 150 % of hard currency. Alak said in an interview for the Sumerian News, "The level of coverage of the Iraqi dinar from the hard currency reserves of 150%", surprising at the same time "of statements by some officials of the bank is on the low reserves of hard currency."

Keywords and added that "the Bank reserves of hard currency is very good and does not suffer from this problem and will not suffer, considering that Iraq has an important source of resources to the dollar, a crude oil sale." The Finance Minister Hoshyar Zebari, in February 26, 2015, has said the reserves Central Bank dropped now to reach $ 68 billion, after rising during the previous period to more than that. The Central Bank of Iraq, in October 2013, for the arrival of the size of its reserves of hard currency to 76 billion and $ 500 million, and that it represents the highest rate up the Bank of the currency in the history of Iraq.

[yota691]

Governor of the Bank: Ahtiatatna of hard currency and very good cover of the Iraqi dinar to 150%

 

 

03/03/2015 11:57

 

Awan / Baghdad 

Showed the central bank governor on the Keywords, on Tuesday, was surprised at the statements of some officials about the low reserves of hard currency, stressing that Iraq does not suffer from any decline and has good revenue and there are no concerns, as pointed out that the Iraqi dinar is covered at 150% of the Currency difficult.

Alak said during a press conference held at the bank building and attended by "time", "The coverage of the Iraqi dinar in hard currency reserves, the level of 150%," exclaimed at the same time "of statements by some officials of the non-bank on low reserves of hard currency."

Keywords and added that "the Bank reserves of hard currency is very good and does not suffer from this problem and will not suffer, considering that Iraq has an important source of resources to the dollar, a sale of crude oil."

[moneysoon]

Morning Yota and DV,

 

Pretty much any way you translate this, it's a good thing. It there are Billions of notes truly out there then they are covered. If we are now down to one Billion that's covered too. He even said that there are, "NO CONCERNS" for us to worry about.  He even spoke to oil as the back-up coverage to the currency.

[captl1]

There are ample reserves and resources to cover their currency.

[SocalDinar]

So they could raise the value 50 % no problem

Now just do it!!!

Go RV

[keylime]

Hard to decipher exactly...but if he's saying the bank has 68 billion hard currency(dollars and euros?) backing their dinar at 150%  that would put the number of dinar at around 170 billion or so.  Then he goes on to point out that it is also backed by their oil which makes it even stronger....and he doesn't even mention the amount of gold in their coffers that are the back up to the back up to the back up...(we know the reason their hard currency took a dip because they just bought more gold, and have been for the last couple of years)

 

I'd say if this is what he is stating no wonder he is "surprised" and says they have "NO Concerns" and the dinar "isn't suffering and will NOT suffer"

 

My take?  

 

there is no way this currency should be less than a dollar and actually not right up there with the Kuwaiti Dinar at over 3 dollars....NO WAY!!! Not when you take into account the value of a currency is based on a percentage of backing and not 100% backing of a country's assets.

 

IMHO

 

Now if they would go ahead a raise the rate, not only would their dinar not suffer, but the Iraqi people will stop suffering and so will a bunch of us...

[King Bean]

Captl1 nailed it....short and sweet. The CBI has things under control, ample reserves in cash and gold. No concerns. So, what's the hold-up???

[Boozer]

The problem is Maliki Stole the RV Button 

[EagleEye]

would anyone care to opine as what this actually means ??? YOTA ???

[yota691]

Tue, 03 Mar 2015 13:45:18

Keywords: Istgrab of statements by some officials about the low reserves of hard currency

 

 

Agency Sama Baghdad news - Baghdad 
announced the Governor of the Central Bank of Iraq on the Keywords, on Tuesday, for the development of new mechanisms for the auction currency, which "is no longer a daily window," he said, adding that a lot of hard currency being smuggled out of the country as well as the processes used in Fassad.wabdy Keywords "surprised at the statements of some officials about the low reserves of hard currency," stressing that "Iraq does not suffer from any decline in hard currency, and has good revenue and there are no worries." While stressing that "the Iraqi dinar is covered at 150% of the hard currency" .otass CBI independent bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including policies exchange rates being sessions daily for buying and selling currencies.

[Saintsfan]

Thank you

[Big_J]

[yota691]

Couple days old not as arbish..Keywords: delete the zeros existing project and covered the dinar at 150% of the hard currency

3/3/2015 12:34

The Governor of the Central Bank on the Keywords, on Monday, the deletion of zeros existing project, and that administrative and regulatory processes will be preceded by, and as for the development of new mechanisms for the auction currency, said coverage of the national currency at 150% of hard currency. Alak said at a press conference held at the bank building , "The project to delete the zeros is based was put into effect and gave the green light to start with," noting that "The project needs a period of time may extend to two years or more." He added Keywords that "this process will be preceded by regulatory and administrative operations and form in which it will be starting out in walks "noting that" the bank began creating currency models and training of cadres to it. " He announced Keywords that "the central bank to develop new mechanisms for auction currency which is no longer a daily window", adding that "a lot of hard currency being smuggled out of the country as well as for use in the operations of corruption. " He expressed "surprise at the statements of some officials about the low reserves of hard currency," stressing that "Iraq does not suffer from any decline in hard currency, and has good revenue and there are no concerns, and that the Iraqi dinar is covered at 150% of hard currency. "