Central Bank Governor: We seek to achieve a balance between the sale of the dollar and keep it

[Rmc10]

I hope it's sooner. I need a vacation.

[ChuckFinley]

5 minutes ago, Rmc10 said:

I hope it's sooner. I need a vacation.

I hear you. That is the second personal thing I am going to do. Get out of debt is number one.  

[Calijim]

17 hours ago, ChuckFinley said:

No worries, sooner or later this is going to end.  

Just like they say in Iraq "soon" "

 

17 hours ago, ChuckFinley said:

No worries, sooner or later this is going to end.  

in the coming days"

[DinarThug]

We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor

23 hours ago by Iraq123 News Comments Off on We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor

 

On Sunday, the Governor of Iraqi Central Bank issued a statement that main objective of CBI is to stabilize the balance between the sale of U.S dollar and demand in the domestic markets. He also added that the sustainability shouldn’t be considered an edge of speculation and huge profits. The Governor of CBI delivered his words in a press interview with Alsumaria News and indicated that the Bank is looking to maintain a balance between the sales of U.S dollar and to keep it stable. He pointed out that the balance of foreign currency has become strong in the past couple of years and there isn’t any kind of space for speculation and huge profits. He added that Iraq has been experiencing some exceptional circumstances and a significant amount of decline in the global oil prices was considered one of the major reasons behind the economic and financial crisis in the country.

 

 

He added that there were two choices in front of the policy of Iraqi Central Bank, whether to respond the U.S dollar to prevent the speculations. But, it would be more costly in the reduction of foreign currency reserves at the CBI due to the foreign currency sale process or accept a margin of increase in the U.S dollar exchange rate against the Iraqi dinar currency. He said that the Iraqi Central Bank was looking to maintain a balance between two objectives. He said that CBI was established as an independent bank under the law implemented on 6th March 2004. The Iraqi Central Bank is an independent body and responsible to maintain Iraqi dinar exchange rate and to implement its monetary policy. He added that the Central Bank of Iraq is also supervising 10 commerc

 

http://www.iraqidinar123.com/w.....-governor/

 

[WaitIsOver]

9 minutes ago, DinarThug said:

We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor

23 hours ago by Iraq123 News Comments Off on We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor

 

On Sunday, the Governor of Iraqi Central Bank issued a statement that main objective of CBI is to stabilize the balance between the sale of U.S dollar and demand in the domestic markets. He also added that the sustainability shouldn’t be considered an edge of speculation and huge profits. The Governor of CBI delivered his words in a press interview with Alsumaria News and indicated that the Bank is looking to maintain a balance between the sales of U.S dollar and to keep it stable. He pointed out that the balance of foreign currency has become strong in the past couple of years and there isn’t any kind of space for speculation and huge profits. He added that Iraq has been experiencing some exceptional circumstances and a significant amount of decline in the global oil prices was considered one of the major reasons behind the economic and financial crisis in the country.

 

 

He added that there were two choices in front of the policy of Iraqi Central Bank, whether to respond the U.S dollar to prevent the speculations. But, it would be more costly in the reduction of foreign currency reserves at the CBI due to the foreign currency sale process or accept a margin of increase in the U.S dollar exchange rate against the Iraqi dinar currency. He said that the Iraqi Central Bank was looking to maintain a balance between two objectives. He said that CBI was established as an independent bank under the law implemented on 6th March 2004. The Iraqi Central Bank is an independent body and responsible to maintain Iraqi dinar exchange rate and to implement its monetary policy. He added that the Central Bank of Iraq is also supervising 10 commerc

 

http://www.iraqidinar123.com/w.....-governor/

 

OK Mr Clown. Your getting to it. Now PLEASE! bring the article that says "DINAR EXCHANGE RATE HAS STABILIZED " http://www.iraqidinar123.com/iraq-will-exit-from-chapter-vii-in-the-next-2-months-al-abadi/ time is up! SHOW ME THE MONEY

Edited July 18, 2017 by WaitIsOver

[Half Crazy Runner]

11 minutes ago, DinarThug said:

We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor

23 hours ago by Iraq123 News Comments Off on We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor

 

On Sunday, the Governor of Iraqi Central Bank issued a statement that main objective of CBI is to stabilize the balance between the sale of U.S dollar and demand in the domestic markets. He also added that the sustainability shouldn’t be considered an edge of speculation and huge profits. The Governor of CBI delivered his words in a press interview with Alsumaria News and indicated that the Bank is looking to maintain a balance between the sales of U.S dollar and to keep it stable. He pointed out that the balance of foreign currency has become strong in the past couple of years and there isn’t any kind of space for speculation and huge profits. He added that Iraq has been experiencing some exceptional circumstances and a significant amount of decline in the global oil prices was considered one of the major reasons behind the economic and financial crisis in the country.

 

 

He added that there were two choices in front of the policy of Iraqi Central Bank, whether to respond the U.S dollar to prevent the speculations. But, it would be more costly in the reduction of foreign currency reserves at the CBI due to the foreign currency sale process or accept a margin of increase in the U.S dollar exchange rate against the Iraqi dinar currency. He said that the Iraqi Central Bank was looking to maintain a balance between two objectives. He said that CBI was established as an independent bank under the law implemented on 6th March 2004. The Iraqi Central Bank is an independent body and responsible to maintain Iraqi dinar exchange rate and to implement its monetary policy. He added that the Central Bank of Iraq is also supervising 10 commerc

 

http://www.iraqidinar123.com/w.....-governor/

 

 

This sounds pretty amazing! Especially since it appears to have been written in plain English, not a confusing translation!   

[DinarThug]

12 minutes ago, WaitIsOver said:

OK Mr Clown. Your getting to it. Now PLEASE! bring the article that says "DINAR EXCHANGE RATE HAS STABILIZED "  SHOW ME THE MONEY

 

Bruce And Luigi Swore That They Had The Article But That The Goat Ate It !  

 

     

 

[Miamiheatnic]

This sounds like awesome news!!!

[NEPatriotsFan1]

I'm thinking the fact that they are so blatantly discussing exchange rate and the topic of speculation may mean there's not much more time for speculators to speculate.... if you add that to the website issues and hosting site numbers we may be getting ready to witness a positive substantial change 

[mally2]

It sounds great.  Things are moving but its still confusing mis-direction nonsense imo.  JMO so dont shoot the messenger but I think hes saying that they have had trouble controlling the spread between the dollar and the dinar due to shady currency traders and speculators who want the dollar.  Their two choices have been to allow the price of the dollar to go up due to this, ie the dinar drops in value on the street, or they blow through more of their foreign currency reserves getting more dollars on the street for sale.  We all know neither option is appealing to them as both options hurt the value of the dinar in the long run.  He says they are working on an option in between but that sounds like more of the same system with better controls, hopefully its not imo.  Hopefully its a totally different system where the dinar is worth a lot more, more easily tradable around the world and more desirable.  Then you wouldnt have such a demand for the usd. 

[okane]

Two thoughts, one is right now the CBI makes X amount of $ selling the USD.  I'm assuming that a dramatic increase in value of the IQD would decrease the sale of USD and result in a loss or decline in that revenue.  Two, if the headline means that they intend or are in the process of "stabilizing IQD exchange rate without space for speculation", are they tipping their hand as to a rate?  If the CBI came out with a rate of $0.01-0.30, many (maybe 90%) would see a potential upside or "space for speculation" BUT if the rate was $0.85-1.20 you would still have some buyers but much fewer speculators.  Above $1.50 and, IMO, you lose most (maybe down to only 10%).

[bostonangler]

5 minutes ago, okane said:

 If the CBI came out with a rate of $0.01-0.30, many (maybe 90%) would see a potential upside or "space for speculation" BUT if the rate was $0.85-1.20 you would still have some buyers but much fewer speculators.  Above $1.50 and, IMO, you lose most (maybe down to only 10%).

 

That is a very interesting perspective you have. I like it.

Of course this is Iraq and if you have been here very long you know they say things about increasing the value of their currency al the time and nothing ever happens.... Dang there I go being jaded again... LOL

 

B/A

[WaitIsOver]

32 minutes ago, DinarThug said:

 

Bruce And Luigi Swore That They Had The Article But That The Goat Ate It !  

 

     

 

Well you know iraq...they hash so many re-prints the goat can eat all he/she/it wants.. stop clowning around and get to work! 

[SnowGlobe7]

2 hours ago, DinarThug said:

He also added that the sustainability shouldn’t be considered an edge of speculation and huge profits.

 

scary!!!

[SnowGlobe7]

1 hour ago, bostonangler said:

 

That is a very interesting perspective you have. I like it.

Of course this is Iraq and if you have been here very long you know they say things about increasing the value of their currency al the time and nothing ever happens.... Dang there I go being jaded again... LOL

 

B/A

Funny...I just used the word jaded on another thread....

[ChuckFinley]

5 hours ago, Calijim said:

Just like they say in Iraq "soon" "

 

in the coming days"

If there are two phrases I will never forget, it is those.  

[Rmc10]

1 hour ago, SnowGlobe7 said:

 

scary!!!

They can't say anything regarding revaluation or everyone would jump on the speculation boat.

[WaitIsOver]

2 hours ago, DinarThug said:

 

Bruce And Luigi Swore That They Had The Article But That The Goat Ate It !  

 

     

 

http://afaq.tv/news/read/51925&#8230 hey clown dunno if you've posted this or not before the goat eats it.  Looks like it's being reported by a *** the appearance of Mohamad saleh. Saleh thinks the dinar is stable at 1180 ?? and he's the top advisor to abadi...?? 

[ChuckFinley]

2 hours ago, bostonangler said:

 

That is a very interesting perspective you have. I like it.

Of course this is Iraq and if you have been here very long you know they say things about increasing the value of their currency al the time and nothing ever happens.... Dang there I go being jaded again... LOL

 

B/A

I have to agree here. I felt that a float was out of the question. People will be jumping in at .04 pump it up then dump it. The GOI could not work a budget with all that craziness.  1 to 1 baby.  

[ChuckFinley]

17 minutes ago, WaitIsOver said:

http://afaq.tv/news/read/51925&#8230 hey clown dunno if you've posted this or not before the goat eats it.  Looks like it's being reported by a *** the appearance of Mohamad saleh. Saleh thinks the dinar is stable at 1180 ?? and he's the top advisor to abadi...?? 

No worries there. Really can not say it is worth more or speculative investors will be pouring in.   

[WaitIsOver]

9 minutes ago, ChuckFinley said:

No worries there. Really can not say it is worth more or speculative investors will be pouring in.   

Good point , I just wish he wouldn't say anything just like other salehs don't but I think he's more impatient for the rv than I am. Over the years I saw him age a bit.

[ChuckFinley]

9 minutes ago, WaitIsOver said:

Good point , I just wish he wouldn't say anything just like other salehs don't but I think he's more impatient for the rv than I am. Over the years I saw him age a bit.

The people have suffered greatly. It would be nice to see Iraq stand on its own two feet.  

[WaitIsOver]

16 minutes ago, ChuckFinley said:

The people have suffered greatly. It would be nice to see Iraq stand on its own two feet.  

So true, the prayers of God's people in iraq have been heard. That's for sure.

[Laid Back]

4 hours ago, mally2 said:

It sounds great.  Things are moving but its still confusing mis-direction nonsense imo.  JMO so dont shoot the messenger but I think hes saying that they have had trouble controlling the spread between the dollar and the dinar due to shady currency traders and speculators who want the dollar.  Their two choices have been to allow the price of the dollar to go up due to this, ie the dinar drops in value on the street, or they blow through more of their foreign currency reserves getting more dollars on the street for sale.  We all know neither option is appealing to them as both options hurt the value of the dinar in the long run.  He says they are working on an option in between but that sounds like more of the same system with better controls, hopefully its not imo.  Hopefully its a totally different system where the dinar is worth a lot more, more easily tradable around the world and more desirable.  Then you wouldnt have such a demand for the usd. 

mally2,  I was thinking the same about this article.

 

As long as the CBI continues with the exchange control the black market for the dollar wil exist

 

Remove exchange control

Stop currency auctions ($)

Give real market value to the dinar

 

With a stronger dinar.  $1:1 

 

The easiest way to Dedollarize the country 

The easiest transition for the Iraqi citizen

Real purchasing power

Its cheaper to rebuild the country

 

Go new monetary policy 

Go RV

Go $1:1

 

 

 

[NoviceInvestor]

32 minutes ago, Laid Back said:

mally2,  I was thinking the same about this article.

 

As long as the CBI continues with the exchange control the black market for the dollar wil exist

 

Remove exchange control

Stop currency auctions ($)

Give real market value to the dinar

 

With a stronger dinar.  $1:1 

 

The easiest way to Dedollarize the country 

The easiest transition for the Iraqi citizen

Real purchasing power

Its cheaper to rebuild the country

 

Go new monetary policy 

Go RV

Go $1:1

 

 

 

I personally think the GOI have become too comfortable with things as they are... To change would mean they would have to work and also be more transparent in decision making etc...