Concern about the deterioration of the price of the Iraqi dinar suspended dollar auction

[yota691]

Concern about the deterioration of the price of the Iraqi dinar suspended dollar auction

Experts believe this procedure error

 

 

03/10/2015 16:37

 

 

     

Iraqi market affected quickly stop the central bank's decision to auction born ...

Affected by the Iraqi market quickly the government's decision that halted the central bank auction of dollars - and that is the dollar offer for sale- which led to the rise of the dollar exchange rate against the Iraqi dinar to reach the money changers to 1,260 dinars, sparking criticism from experts saw this procedure error, and called to follow swift action to control the deterioration rate of the Iraqi dinar. Ahmed says Nasraoui -oho shop owner phones Jawalh- The rise in the dollar price quickly reflected negatively on the prices of commodities in general, adding that it has reduced the proportion of sales and gig buyers and shoppers. He Nasraoui At interview the island Nt- that the continued rise in the dollar exchange rate will affect the movement of the market, and that the Iraqi people basically afraid of reducing the budget for the current year and their impact on the living situation, and came dollar crisis to increase the fears and become a factor of concern for the market. The head of the Economic Media Center lion Muhammad Ali's experience Central Bank of the dollar auction was the necessity imposed by Iraq's economic conditions to maintain the stability of the currency exchange rate, pointing to the success of this experiment, confirming that could end the auction if they were to find alternative mechanisms and the distribution of the roles of the central bank to private and public banks. two sparrows and explained that the central bank kill two birds with one stone, one side of the difficulty and effort and legal responsibility for himself, on the other hand provided support to banks through referral transfers to and allocate the necessary funds for it, which makes them legally responsible for the funds transferred. For his part, the economic expert on behalf of Jamil Antoine said that the Stop Auction Currency reflected negatively on the Iraqi dinar, with diminished supply of the dollar in the local market and increased demand for it, prompting speculators to manipulate prices currencies. said Antoine Addressing this rise is to pump large amounts of dollar in the local market, calling on the central bank to pump large amounts from the dollar to control the price and create a balance in the domestic market. However, the adviser to Prime Minister for Economic Affairs and economist Iraqi appearance of Dr. Mohammed Saleh, denied what he said some officials who indicated that the central bank actions are the cause of rising prices of the dollar against the dinar, stressing that the action Central Bank essentially is immunization of the process of selling the currency action, and it aims to not wasting the currency for the time being, especially that Iraq suffers from a significant financial hardship. oil Saleh said that the rise in the dollar came against the backdrop of lower oil prices in the international oil market, though most of Iraq's imports Finance comes from oil, and the hard currency comes with oil revenues, adding that the Ministry of Finance turned half of the oil revenues to $ reserve her and respond to crises.Saleh added that Iraq does not have an economic resource is oil gets on the dollar through it, it does not issue a goods and materials The goods out of Iraq, nor reap from religious tourism or general tourism hard currency for the lack of attention, not the customs applied to goods imported properly. downplayed Mohammed Saleh from the impact of rising dollar against the Iraqi dinar returned it as "simple" as described and is influential in the market local. He stressed that the new central bank action came to fortify the dollar selling process and not stop the auction finally currency, pointing out that the Iraqi dinar completely covered in foreign currency, and there are no fears of a weak Iraq reserves of hard currency, at least in the foreseeable future. for (Al-Jazeera) 

[MyLadiesDaddy]

Boy suspending the auctions sure "got" them all upset. LMAO

I guess Iran don't know how to fund it's nuclear program without our dollars.

[staunch]

I just don't see the down side of this. Yes the market rate gap is increasing but, this is expected when supplies of the dollar are scarce. The way I see it, it will force them to use the dinar and make de-dollarising easier.

[RV4CandyMan]

How can the price of the Dinar get any lower? With all the oil and gold they have you woild think it would be deaded in the other direction.

[adam14]

The USD is up against all major markets.  Euro is the lowest vs the $ in 6 + years.  (Fox News)

[Wiljor]

The USD is up against all major markets.  Euro is the lowest vs the $ in 6 + years.  (Fox News)

Yea, c'mon down to Mexico were 1usd will get you 15.50 pesos, almost the same as the Euro and its closer. Not good for us who live here but ya cant beat the weather.... mas tequila :-)

[Texstorm]

Yea, c'mon down to Mexico were 1usd will get you 15.50 pesos, almost the same as the Euro and its closer. Not good for us who live here but ya cant beat the weather.... mas tequila :-)

I will be down there from the 27th March till April 3rd     

[boosterbglee]

Sunshine and Tequila............I grow dizzy!!!  

[TQueezy]

Cabo Wabo shots, soon as I can exchange my dinar for dollars at 1:$1 or higher.

[Laid Back]

1260 dinar to the dollar.!!

The Dollar is king. Nobody wants to use the weak dinar.!

I believe this is an strategy of the CBI to collect more 000's notes from the streets.!

They continue reducing the note count from 4 billions to 1 billion.

Just my opinion.!

Go CBI

Go Dinar

Go Strong 1+

[davis411]

Cabo Wabo shots, soon as I can exchange my dinar for dollars at 1:$1 or higher.

1 to 1 wow, dont think there would be enough shots in Mexico for me,

well yay there would be but i would still give it a run at that exchange celebration

[olivesman]

1260 dinar to the dollar.!!

The Dollar is king. Nobody wants to use the weak dinar.!

I believe this is an strategy of the CBI to collect more 000's notes from the streets.!

They continue reducing the note count from 4 billions to 1 billion.

Just my opinion.!

Go CBI

Go Dinar

Go Strong 1+

I'm LIKING how you're THINKING.

GO MEGA-VACATION!

[Wiljor]

I will be down there from the 27th March till April 3rd  

Have a great trip Tex, weather has been stellar.

[unirod]

Tomorrow it will be the discovery of some counterfeit notes and an organized gang getting busted!

[TrinityeXchange]

Not everybody should be allowed a press release. The dollar is soaring right now against all currencies. Currency war has broken out, the feds quantitative easing has failed, and the purchasing power of the green back is up. Of course Iraqi's think this is because of their auctions being disrupted but it is way greater than that.

[TrinityeXchange]

This

 

Emerging market currencies have been hammered in recent days after the dollar was boosted by the release of better than expected US jobs data on Friday. That has prompted speculation that the US central bank could start raising borrowing costs towards the middle of this year.

 

“There is panic in the markets and as investors rush to exit high-yielding emerging market foreign exchange, they are suffering steep losses,” said Berg Bernd, a currency strategist at Société Générale.

 

“The currencies that are most sensitive to a change in US monetary policy like the Brazilian real and Mexican peso or rely heavily on short-term capital inflows like the Turkish lira and the rand suffer most in this global emerging market foreign exchange sell-off.’’

 

Turkey’s and Mexico’s currencies touched record lows, down 1.2 per cent to 2.63 lira per dollar and 0.6 per cent to 15.56 pesos per dollar. Brazil’s real fell as much as 1.5 per cent to 3.12, before erasing most of its losses.

 

Meanwhile the rand fell to a fresh 13-year low against the US dollar, down 1.3 per cent to 12.25, as domestic factors in South Africa compounded the rising aversion towards emerging markets.

[sandfly]

THANKS

[MyLadiesDaddy]

WOW, Professor Trinity.

Nothing here is exactly what it seems.

Interesting how Iraq was not in their comparison yet Turkey is.

Iraq has made far greater strides.

[yota691]

Maybe they should use a different outlet as suggest by Government....

On the other hand, the central bank confirmed that he supports private banks by convincing the government put their deposits in government banks, which examines some of the laws that allow the support of the Iraqi economy

 

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Read more: http://dinarvets.com/forums/index.php?/topic/198778-governor-of-the-central-bank-of-iraq-there-are-operations-of-foreign-currency-smuggling-abroad/#ixzz3U4cLVI72