Rmc10 Posted January 24, 2018 Report Share Posted January 24, 2018 9 minutes ago, DoD said: Rmc, the 2% spread the IMF speaks of is the difference in the market price and real price. I have taken a few snap shots from the CBI and Warka Bank website to illustrate below. The CBI is showing the market rate which you will notice their disclaimer at the bottom compared to the real rate Warka is showing. They need to get the spread to round 1200, hope this helps a little. Thanks so much! 1 Link to comment Share on other sites More sharing options...
Maserati Posted January 24, 2018 Report Share Posted January 24, 2018 The CBI website still says 1184. I have not seen any change in years. What an I missing? 1 Link to comment Share on other sites More sharing options...
danielchu Posted January 24, 2018 Report Share Posted January 24, 2018 (i) Action by a member or its fiscal agencies that of itself gives rise to a spread of more than 2 percent between buying and selling rates for spot exchange transactions between the member’s currency and any other member’s currency would be considered a multiple currency practice and would require the prior approval of the Fund. (ii) An exchange spread that arises without official action would not give rise to a multiple currency practice. (iii) Deviations between the buying and selling rates for spot transactions and for other transactions would not be considered multiple currency practices if they represent the additional costs and exchange risks for these other transactions. https://www.imf.org/external/pubs/ft/sd/index.asp?decision=6790-(81/43) MULTIPLE CURRENCY PRACTICES—POLICY 1 1 Link to comment Share on other sites More sharing options...
NoviceInvestor Posted January 24, 2018 Report Share Posted January 24, 2018 February 13th..Just in time to make it A Happy Valentines Day ... 2 1 Link to comment Share on other sites More sharing options...
DoD Posted January 24, 2018 Report Share Posted January 24, 2018 1 hour ago, Maserati said: The CBI website still says 1184. I have not seen any change in years. What an I missing? Maserati, this screen shot from the CBI is of the "Market Price" not the Buy, Sell rate of the Dinar at the bank. Click around on the site you will find it, look at the auctions..... Link to comment Share on other sites More sharing options...
Maserati Posted January 24, 2018 Report Share Posted January 24, 2018 Thanks DoD Link to comment Share on other sites More sharing options...
Maserati Posted January 24, 2018 Report Share Posted January 24, 2018 It's in Arabic. Link to comment Share on other sites More sharing options...
csd9013 Posted January 25, 2018 Report Share Posted January 25, 2018 8 hours ago, NEPatriotsFan1 said: Haha.... sorry I’m a bit scatterbrained right now. Just flew home and was texting that from baggage claim. My grandfather passed on Sunday night after 90 great love filled years! Coming home to pay respects and celebrate his life..... so yeah my math is off! i appreciate you keeping me honest and grounded. I'm sorry for your loss. 1 1 Link to comment Share on other sites More sharing options...
MyLadiesDaddy Posted January 25, 2018 Report Share Posted January 25, 2018 For many years I've been saying, when this gets to two percent your will have an RV. 2 7 Link to comment Share on other sites More sharing options...
Officiallytook Posted January 25, 2018 Report Share Posted January 25, 2018 Dont ever know whats going on with these guys. But it sure sounds like the people are putting strength behind their dinar 1 Link to comment Share on other sites More sharing options...
yota691 Posted January 25, 2018 Author Report Share Posted January 25, 2018 Source in the Central Bank of Iraq: The gap between the official price of the dollar and the market is 4% Economie 08:55 Last updated The time now is 09:04 AM 1136 Watch BAGHDAD / Press tomorrow: revealed a government source said on Thursday, that the gap between the price difference to the dollar in the market and the official exchange rate is 4%. The source told "Al-Gharab" that "the Central Bank of Iraq sells to banks in the window selling foreign currency dollar at 1190 dollars per dollar, which in turn funds the market and passengers and for treatment and other, and note that the difference in price for the official price and the market in the sale of the dollar, Do not exceed 4% between the two prices. " The source said that "the problem is not within the Central Bank of Iraq in relation to the volume of sales of the dollar, because the banks are deposited in dinars and received in dollars and according to the law does not affect the financial centers is legally available, and the credibility of the entry of materials imported through the dollar or not, Following the Central Bank, such as customs and government outlets in general. " 2 5 Link to comment Share on other sites More sharing options...
yota691 Posted January 25, 2018 Author Report Share Posted January 25, 2018 Rasheed Bank opens branch in Mosul Thursday, January 25, Alsumaria News / Baghdad Al-Rasheed Bank announced on Thursday the opening of a branch in Mosul , stressing the immediate reception of all citizens to walk their transactions in all kinds. The bank said in a statement received by Alsumaria News that "opened today branch Khalid bin al-Walid, which is on the right side of the city of Mosul." The bank said it had "set a plan to reopen its branches after it was destroyed by terrorism," noting that "the bank began to receive all citizens to walk their transactions of all kinds." Most of the government departments in Mosul were destroyed because of the control of "Daesh" by the military operations that occurred in the region, while government banks have been there to steal their money by organizing Daesh before they destroy. 3 Link to comment Share on other sites More sharing options...
gregp Posted January 25, 2018 Report Share Posted January 25, 2018 Yup, it’s exactly 4%. Right on the money. Making progress. Thanks Yota. 2 Link to comment Share on other sites More sharing options...
gregp Posted January 25, 2018 Report Share Posted January 25, 2018 Just now, gregp said: Yup, it’s exactly 4%. Right on the money. Making progress. Thanks Yota. 1214 will put us back in the 2% window. 3 Link to comment Share on other sites More sharing options...
TOMINVEGAS Posted January 25, 2018 Report Share Posted January 25, 2018 Lots of branches but no leaves..... 2 Link to comment Share on other sites More sharing options...
davis411 Posted January 25, 2018 Report Share Posted January 25, 2018 1 hour ago, gregp said: Yup, it’s exactly 4%. Right on the money. Making progress. Thanks Yota. so cause i am not that quick is this good then?? 1 Link to comment Share on other sites More sharing options...
gregp Posted January 25, 2018 Report Share Posted January 25, 2018 7 minutes ago, davis411 said: so cause i am not that quick is this good then?? The IMF wanted the CBI to hold the rate within 2% of the street rate. I believe that’s how it goes. 3 Link to comment Share on other sites More sharing options...
King Bean Posted January 25, 2018 Report Share Posted January 25, 2018 (edited) 1 hour ago, davis411 said: so cause i am not that quick. is this good then?? Absolutely GOOD, Davis. But don't be so hard on yourself, Mr. President. Here's a puzzle to keep you busy while we wait for the RV. Take your time. Go Davis. Go Canada. Go RV. Edited January 25, 2018 by King Bean 6 Link to comment Share on other sites More sharing options...
davis411 Posted January 25, 2018 Report Share Posted January 25, 2018 Link to comment Share on other sites More sharing options...
NoviceInvestor Posted January 25, 2018 Report Share Posted January 25, 2018 6 hours ago, gregp said: The IMF wanted the CBI to hold the rate within 2% of the street rate. I believe that’s how it goes. I read that the rate has to hold firm at 2% for a period of time.. so we are a while away yet.. Link to comment Share on other sites More sharing options...
olivesman Posted January 25, 2018 Report Share Posted January 25, 2018 (edited) 4 hours ago, King Bean said: Absolutely GOOD, Davis. But don't be so hard on yourself, Mr. President. Here's a puzzle to keep you busy while we wait for the RV. Take your time. Go Davis. Go Canada. Go RV. Beautiful photo of a blizzard! Kudos to the photographer. Edited January 25, 2018 by olivesman 1 2 Link to comment Share on other sites More sharing options...
nannab Posted January 25, 2018 Report Share Posted January 25, 2018 3 hours ago, davis411 said: Mr. President. 1 Link to comment Share on other sites More sharing options...
danielchu Posted January 25, 2018 Report Share Posted January 25, 2018 (edited) 3 hours ago, NoviceInvestor said: I read that the rate has to hold firm at 2% for a period of time.. so we are a while away yet.. Other Conventional Fixed Peg Arrangements The country (formally or de facto) pegs its currency at a fixed rate to another currency or a basket of currencies, where the basket is formed from the currencies of major trading or financial partners and weights reflect the geographical distribution of trade, services, or capital flows. The currency composites can also be standardized, as in the case of the SDR. There is no commitment to keep the parity irrevocably. The exchange rate may fluctuate within narrow margins of less than ±1 percent around a central rate-or the maximum and minimum value of the exchange rate may remain within a narrow margin of 2 percent-for at least three months. The monetary authority stands ready to maintain the fixed parity through direct intervention https://www.imf.org/external/np/mfd/er/2004/eng/0604.htm Edited January 25, 2018 by danielchu 3 2 Link to comment Share on other sites More sharing options...
davis411 Posted January 26, 2018 Report Share Posted January 26, 2018 3 hours ago, nannab said: Mr. President. Link to comment Share on other sites More sharing options...
Floridian Posted January 26, 2018 Report Share Posted January 26, 2018 1 hour ago, danielchu said: Other Conventional Fixed Peg Arrangements The country (formally or de facto) pegs its currency at a fixed rate to another currency or a basket of currencies, where the basket is formed from the currencies of major trading or financial partners and weights reflect the geographical distribution of trade, services, or capital flows. The currency composites can also be standardized, as in the case of the SDR. There is no commitment to keep the parity irrevocably. The exchange rate may fluctuate within narrow margins of less than ±1 percent around a central rate-or the maximum and minimum value of the exchange rate may remain within a narrow margin of 2 percent-for at least three months. The monetary authority stands ready to maintain the fixed parity through direct intervention https://www.imf.org/external/np/mfd/er/2004/eng/0604.htm Well, this would mean no RV before/during/immediately after Feb. 12th to 14th - since they have to hold the 2% for 3 months. Also, don't they have to RV at the beginning of the year, or at least during the first quarter, in order not to have to re-do all their books for such a long period of time? (Too much trouble to re-do the books if it's longer than 3 months.) 1 1 Link to comment Share on other sites More sharing options...
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