Iraqi Central Bank raises delivery term currency US dollar bonds

[yota691]

Iraqi Central Bank raises delivery term currency US dollar bonds

08/21/2015 03:09

Central Bank of Iraq will ask the delivery term the currency of the US dollar bonds (bearer) on behalf of the Ministry of Finance on 02/08/2015 and ends on 08/31/2015 Basaddarah of four categories (2500.10000, 50000.100000) US dollars and a total of $ 2 billion dollars (two billion US dollars). been sold through the Central Bank of Iraq at a price (1095) dinars per US dollars (one thousand and five and ninety) dinars and payable by the Ministry of Finance on 12.31.2016 and paid in US dollars at maturity. offers all banks buyers to the bank requests and restrict the amounts we have to open their accounts we have, whether the bonds of the bank on behalf of the public (people their natural or legal) who have a current account at the bank and provides a purchase order to the bank directly to the bank in turn buy those bonds to its customers through the form buy advance to the Central Bank of Iraq, and those bonds can be used as collateral for loans, facilities or any transactions require collateral.  

 

[Officiallytook]

Hmm...I like this one...

Hurry up, RI/RV just go increase it already...and not the note count the EXCHANGE RATE!!!

[MyLadiesDaddy]

payable by the Ministry of Finance on 12.31.2016 and paid in US dollars at maturity

Read more: http://dinarvets.com/forums/index.php?/topic/207150-iraqi-central-bank-raises-delivery-term-currency-us-dollar-bonds/#ixzz3jZWfuNm0

 

 

I hope I'm not the only one that sees a problem with this.

[italiancat]

payable by the Ministry of Finance on 12.31.2016 and paid in US dollars at maturity

Read more: http://dinarvets.com/forums/index.php?/topic/207150-iraqi-central-bank-raises-delivery-term-currency-us-dollar-bonds/#ixzz3jZWfuNm0

I hope I'm not the only one that sees a problem with this.

Why in US Dollars and not Iraqi Dinar?

[MyLadiesDaddy]

Why in US Dollars and not Iraqi Dinar?

at a price (1095) dinars

 

ON 

 

on 12.31.2016

 

That kinda leaves out the possibility of any RV before then!

 

One would think. 

[Nelg]

If it happens on that date, it does leave "predictions" hanging, doesn't it?

[TrinityeXchange]

i am completely stumped by this.....just can't wrap my mind around what the cbi is doing.  hopefully there will be additional information come forward to add clarity.

[Markinsa]

You guys are reading it wrong.  The Bonds sell at 1095 Dinars / $1 now, and are redeemed in the future for $$$.  This is good!  

 

What would be bad, is if the face value on the Bonds were in Dinar and Not Dollars, then for sure there wouldn't be an RV until after 2017.

 

.

[csd9013]

They are talking about the maturity of the bonds, not when it is going to RV.

[Boozer]

if at pay back the dinar is worth more than the U S Dollar, you would want to pay it back in USD.. Just my    

[Carrello]

Boozer, exactly.

Edited August 23, 2015 by Carrello

[Officiallytook]

So it's saying maturity date is 6mos instead of yrs?

[sandfly]

THANKS

[Markinsa]

So it's saying maturity date is 6mos instead of yrs?

 

"payable by the Ministry of Finance on 12.31.2016 and paid in US dollars at maturity."

Read more: http://dinarvets.com/forums/index.php?/topic/207150-iraqi-central-bank-raises-delivery-term-currency-us-dollar-bonds/#ixzz3jc23VvJX

 

It looks like the Bonds will mature at the end of next year. (1 Year + 4 months)

[new york kevin]

They are talking about the maturity of the bonds, not when it is going to RV.

 

Yup, and by charging IQD to purchase them they will lower the note count of circulating dinar, which will support/stabilize a higher valued IQD. By paying them out in USD in 1 year 4-5 months. They will have a least that amount of time to remove the USD from the internal Iraqi economy and hold it in reserve to pay out the value at the time of maturity. A win, win, as I see it. It will even assist mitigating the potential damage by the Irannians in their backward plans to hurt Irqn by flooding Iraqs economy with the USD.the Irannians hold.

Edited August 23, 2015 by Markinsa
Fixed Quote Box