CBI News 11/02/2017

[SnowGlobe7]

2 hours ago, pontiyak said:

IMHO Laid back has got the gist of it....

The CBI is exploring what the Dinar will do if it is allowed to trade against a basket of other

world currencies. At some point it has to end up on the Forex which will be the real test of the Dinars

value around the world. There is no question the Dinar has to become a fully convertible and tradable currency

sooner or later. Keep in mind that the old Dinar rate under Saddam (approx. $3.25) was a rate determined by him and was not

completely recognized by other countries.

With the amount of oil Iraq has it will become a world leader in oil production

and it's currencies value has to reflect that position as well.

We may well see controlled increases in the Dinars value until such time the CBI and the rest of the worlds top banking entities

determine it's time to go live on the Forex.

I think Adam Montana's prediction of a (fixed) 10cent RV to start is a safe bet. Many will cash out then, but many will also buy in

expecting higher rates in the future. after a few controlled increases and when the powers that be determine that making the jump to the Forex is

not going to be too crazy, then the gates are opened.

 

IMHO

 

The best things in life RV.

 

yak

 

Perfect! How ya been friend?

[10 YEARS LATER]

7 hours ago, Laid Back said:

Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events[1] or to maximize the realization of opportunities. Risk management’s objective is to assure uncertainty does not deflect the endeavor from the business goals.

 

 

Totally agree Brother.!

 

The CBI is simulating the peg of the dinar with different currency to see the behavior of the dinar exchange rate.

 

Where there's smoke there's fire.

 

Go CBI 

Go new monetary policy 

Go RV

 

" where's there's smoke, there's 🔥 " agreed LB  _ These Monkeys are up to something - moving the Ball slowly down the field.

[alreis]

IMO bring the dinar out at max value, $3 +. It would eliminate the buy in crowd if they start at .10

At the $3+ value they would deal with far fewer investors and the Iraq people that were able to keep it.

[Uckiller]

Hopefully they peg their iqd with btc instead of usd

[mr.unlikely]

Alreis the whole idea is to attract as many people to the currency as possible. At .10  the dinar provides an incentive because the book value is so much more. Investors will pile on board which will speed up the velocity of the currency. The increase in velocity will put upward pressure on the value, eventually driving it to its fair market value and making investors and the CBI alike, a lot of money. Investors get the increase in value, the CBI gets the spread on the buy and sell. The thing about banks is they give out less than they take in.

I do like the way you think though lol. This thing pops at three and I'm so done! Enjoy your evening

[new york kevin]

11 hours ago, NEPatriotsFan1 said:

Do you think maybe this is linking Dinar to IMF SDR(special drawing rights) ? 

 

Just a thought

Wow, now my mind is totally blown trying to follow this.  NEPatriotsFan1 thanks to you. Are you in finances like way more than me ? I did catch the possibly 65 cenr thing.

[Laid Back]

3 hours ago, 10 YEARS LATER said:

 

" where's there's smoke, there's 🔥 " agreed LB  _ These Monkeys are up to something - moving the Ball slowly down the field.

You got that right 10YL

The 🐒🐒🐒🐒🐒 are up to something.😂😂😂

[Laid Back]

10 hours ago, SnowGlobe7 said:

Thanks LB....I get that I just find the publishing of it is like giving away a hint at what they are planning.

 

Do not get me wrong I think it is good....just find it funny that they publish the info.

 

Side note....I really appreciate all you bring here.  Short sweet concise and to the point.  Thank you 

 

Thanks........Love you kitty Cat.!

 

5 hours ago, pontiyak said:

IMHO Laid back has got the gist of it....

The CBI is exploring what the Dinar will do if it is allowed to trade against a basket of other

world currencies. At some point it has to end up on the Forex which will be the real test of the Dinars

value around the world. There is no question the Dinar has to become a fully convertible and tradable currency

sooner or later. Keep in mind that the old Dinar rate under Saddam (approx. $3.25) was a rate determined by him and was not

completely recognized by other countries.

With the amount of oil Iraq has it will become a world leader in oil production

and it's currencies value has to reflect that position as well.

We may well see controlled increases in the Dinars value until such time the CBI and the rest of the worlds top banking entities

determine it's time to go live on the Forex.

I think Adam Montana's prediction of a (fixed) 10cent RV to start is a safe bet. Many will cash out then, but many will also buy in

expecting higher rates in the future. after a few controlled increases and when the powers that be determine that making the jump to the Forex is

not going to be too crazy, then the gates are opened.

 

IMHO

 

The best things in life RV.

 

yak

Thanks for your input  pontiyak.!

[Spider]

14 hours ago, happygilmores said:

A simulation of the dinar exchange rate tied to a basket of currencies, Dr. Ahmed Burayhi.
Pave: besides bilateral Linkage firm or flexible. Therefore, stabilizing the national currency to a basket of currencies is balanced among the approved exchange rate regimes in the world Whitakerraqatrah linking the exchange rate of the dinar to a basket of major currencies, the international reserve currencies, and dominant in foreign trade and capital markets as well as the US dollar. But Iraq used to prefer bilateral linkage in its monetary history and to this day. Observers do not hide the pretext of bilateral Linkage and the dollar specifically in the 100 in 65 and that the supplier of the foreign currency to Iraq is the first dollar. Secondly, the dollar remains mostly in the official international reserves and a rate ranging around the world, and thirdly, the adoption of foreign trade to Iraq on a dollar currency even with neighboring countries and Asian and fourth relies most countries of the world the dollar to intervene in the market and in Iraq also works the central bank window in the dollar and therefore we call a powerful currency. , exchange and called a currency intervention.
  Nevertheless, there must be interaction with a proposed a basket of currencies and detect patterns of the exchange rate movement in light of this system, and they conducted a simulation test this so interested and the decision considering the performance of this regime and how different from bilateral linkage.   The exchange rate Al-dinaralmarbut to a basket of currencies with varying weights:
   . Then we assume 1999 in this memo a review of the exchange rates of currencies the euro and pound sterling, the yen and the Swiss currency against the dollar since the beginning of the year .2017, the beginning of the euro, and even at the beginning of the 10th of 1999 linking the Iraqi dinar to a basket of currencies, according to three alternatives to weights between 1st January year and weights:
 ? % each 5% to the euro; and the rest of the currencies of 20% to the dollar; 65 first:
 % of both Swiss and Japanese. 5% pound sterling; and 10% to the euro; 20% to the dollar; 60 second:
2
 
 ? % for both Swiss and Japanese 7.5% for sterling; 10% to the euro; 25% to the dollar; the third 50:
 And 2012 points can be selected and then running the expense records for the dinar exchange rate under the link to these Al-Salal. And to conduct simulation we assume starting from the beginning of the year start again and restore accountability, but that does not affect the upwards and downwards movement pattern. Anyway, a results statement to abide by a basket of currencies and weights in the exchange rate, and during a period of time is enough for the appearance of the regular changes and fluctuations in the relationship between the major currencies in the world. And at the starting point of any on the first day of the first month dinars, i.e. at the moment of transformation of the bilateral system into the basket. The exchange rates of other currencies in dinar according to change exchange rates 1200 Sna Dollar dollar. The result is clear in the table at the end of this memo, which exposes how much will be the exchange rate (dinars/dollars) according to a basket of currencies, showing those weights.   . Dinars to the dollar to 1700 and below a summary of the experiment with the assumption Sarr exchange another elementary school.
The proposed adopting a basket of currencies instead of the bilateral linkage, I mean the dollar exchange rate change in dinar according to change the exchange rates of currencies basketball towards the dollar.  You will be for example:, material change. This is what you find in the creek.  When pricing the euro or sterling and Dinar, this depends on the exchange rates between those currencies and the dollar dollars per euro dented dinars to one dollar and so on. So that the dealer about dinars to the euro and then the dollar will regain the amount Denari, who used it to buy the euro when converting dollars into dinars in the same market moment. 
    Notice that the Euro exchange rate with the dollar has a regular character, and generally rules out the chronic direction downwards and upwards to the exchange rates of all currencies for reasons related to productivity and costs and consequently the prices of exports and the balance of payments accordingly. Therefore, the adoption of basketball does not guarantee a specific trend of the dollar exchange rate, or any other currency, the dinar. And when adopting basketball, so this does not require changing the exchange rate every day but enough weekly or monthly.
   These accounts and offers data to show, and knowing the quantitative scale for the proposed issue for discussion. When shifting to basketball needed agreement on currencies and their weights and why. Presumed weights in this memorandum is close to the first alternative of Iraqi international reserves components. Maybe look at the relative components of currencies in foreign trade or others to propose weights.
3
 
 
 ) 1 schedule number (
The summary results of simulations for the Parity (dinars to the dollar) at the link to a basket of currencies.
 2017 from the beginning of time assumed until October.
Assumptions and data.
  The bilateral 2011 كانون 2nd 2005 كانون 2nd 1999 January the dollar and price off the alternative first alternative second alternative third alternative first alternative second alternative third alternative first alternative second alternative third 1200 1244 1232 1231 1237 1223 1225 1278 1253 1255 average 1200 1139 1152 1155 1139 1145 1155 1139 1145 1155 minimum 1200 1342 1311 1298 1342 1311 1298 1463 1329 1385 top 1170 1213 1201 1200 1206 1192 1194 1246 1222 1224 average 1170 1111 1123 1126 1111 1116 1126 1111 1116 1126. Minimum 1170 1308 1278 1266 1308 1278 1266 1296 1296 1350 high.
4
 
 
 ) 1 a (number
  : simulation link to a basket of currencies of 2017 and تشرين 1st 2005 the exchange rate movement between January.
 
 
Conclusions:
5
 
 The experiment showed that the exchange rate of the dinar in relation to a basket of major currencies do not get away so much the average levels of bilateral linkage. It also could not determine a regular trend towards the rise or fall of the dinar's exchange rate with the dollar and for a long time at the commitment of a basket of currencies. Also notice the fluctuation, which vanish with him, almost, the advantages of fixing as long as the window using a single foreign currency.  Dear readers from specialists and others to present this data and calculations, and can restore the experiment with any other hypotheses to see it suits them. 
 
The statistical attache
  ) 2 form number (
 2016 The euro exchange rate to the dollar since the beginning.

Year Month
20172 016 OctJ UlA PrJ AnO CtJ UlA PrJ an.
1 .200 1 .175 1 .150 1 .125 1 .100 1 .075 1 .050 U.S. $/Euro 3.
U.S. $/Euro-Arab 2016-2017.
6
 
 
 
 ) 3 (the form number.
The Euro exchange rate to the dollar.
 
 
Year Month
20142 0082 0021 9961 9901 9841 978 DecD EcD EcD EcD EcD EcD Ec.
1 .6 1 .4 1 .2 1 .0 0.8 0.6 U.S. $/ Euro-Arab.
U.S. $/ Euro exchange rate monthly data.
7
 
 
 
 ) 4 (the form number.
The Swiss currency exchange rate to the dollar.
 
 
Year Month
20132 0061 9991 9921 9851 9781 971 JanJ AnJ AnJ AnJ AnJ AnJ an.
1 .2 1 .0 0.8 0.6 0.4 0.2 U.S. $(Bermuda-based insurers currency unit.
U.S. $/ Bermuda-based insurers currency unit Monthly data.
8
 
 
 
 ) 5 (shape number.
The exchange rate Al-bawn pound to the dollar.
 
 
20132 0061 9991 9921 9851 9781 971 2.6 2.4 2.2 2.0 1 .8 1 .6 1 .4 1 .2 year.
U.S. $/ GBP.
U.S. $/ GBP exchange rate annual data.
9
 
 
 
  ) 6 (shape number.
The yen exchange rate to the dollar.
 
 
Year quarter
20132 0061 9991 9921 9851 9781 971 Q1Q 1Q 1Q 1Q 1Q 1Q 1.
0,014 0,012 0,010 0,008 0,006 0,004 0,002 U.S. $/ yen.
U.S. $/ yen quarterly data.
10
 
 
 
 ) 7 form number (
The Euro exchange rate and the Swiss currency to the dollar: Record numbers.
 
 
 
 
11
 
 
 
 ) 8 (the form number.
The exchange rates of the four currencies to the dollar: Record numbers.
 
 
 
 
12
 
 
 
 ) 9 (the form number.
The dollar exchange rate of the Iraqi dinar, according to the three alternatives to weigh Basketball: Record numbers.
 
 
 
IQ per Us$ index Weight: US$ 0.65; EURO 0.20; GBP 0.05; Bermuda-based insurers 0.05; yen 0.05.
13
 
IQ per US $index 2 Weight: U.S. $0.6; EURO 0.20; GBP 0.10; Bermuda-based insurers 0.05; yen 0.05.
IQ per US$ index 3: U.S. $0.5; EURO 0.25; GBP 0.10; Bermuda-based insurers 0,075; yen 0,075.
 ) 2 schedule number (
 
  Iraqi dinars) 1200 US dollar equals 2012 exchange rate: dinars to the dollar (in 1st January.
According to three alternatives to obvious nose weights.
 
IQ per U.S. $IQ D per U.S. $2 Iq D per US D 3 Month/year 1281 1277 1313 01/01/1999 1294 1291 1331 02/01/1999 1305 1302 1346 03/01/1999 1311 1309 1355 04/01/1999 1314 1312 1359 05/01/1999 1321 1320 1369 06/01/1999 1322 1321 1371 07/01/1999 1310 1308 1353 08/01/1999 1309 1306 1350 09/01/1999 1300 1296 1338 10/01/1999 1312 1310 1354 11/01/1999 1317 1315 1361 12/01/1999 1318 1315 1362 01/01/2000 1331 1329 1381 02/01/2000 1335 1334 1387 03/01/2000 1339 1339 1393 04/01/2000.
14
 
1356 1358 1418 05/01/2000 1341 1343 1397 06/01/2000 1345 1348 1403 07/01/2000 1357 1360 1420 08/01/2000 1368 1374 1438 09/01/2000 1374 1379 1444 10/01/2000 1375 1381 1447 11/01/2000 1361 1366 1427 12/01/2000 1352 1355 1414 01/01/2001 1358 1363 1424 02/01/2001 1365 1371 1435 03/01/2001 1372 1378 1444 04/01/2001 1377 1383 1451 05/01/2001 1385 1392 1464 06/01/2001 1382 1389 1460 07/01/2001 1367 1373 1437 08/01/2001 1360 1364 1426 09/01/2001 1364 1369 1432 10/01/2001 1370 1376 1441 11/01/2001 1372 1377 1444. 12/01/2001 1377 1383 1453 01/01/2002 1382 1389 1460 02/01/2002 1379 1385 1455 03/01/2002 1374 1380 1448 04/01/2002 1361 1366 1428 05/01/2002 1347 1350 1407 06/01/2002 1329 1329 1380 07/01/2002 1335 1336 1389 08/01/2002 1335 1335 1388 09/01/2002 1336 1336 1390 10/01/2002 1328 1328 11/01/2002 1379 15.
 
1322 1321 1370 12/01/2002 1306 1304 1347 01/01/2003 1303 1301 1343 02/01/2003 1303 1302 1344 03/01/2003 1303 1303 1345 04/01/2003 1281 1279 1314 05/01/2003 1278 1274 1309 06/01/2003 1289 1286 1324 07/01/2003 1295 1294 1334 08/01/2003 1290 1287 1325 09/01/2003 1272 1267 1299 10/01/2003 1272 1267 1298 11/01/2003 1252 1245 1271 12/01/2003 1240 1231 1254 01/01/2004 1239 1228 1251 02/01/2004 1252 1242 1268 03/01/2004 1259 1249 1278 04/01/2004 1261 1252 1282 05/01/2004 1253 1243 1270 06/01/2004 1250 1239 1265. 07/01/2004 1253 1244 1271 08/01/2004 1254 1245 1272 09/01/2004 1245 1236 1260 10/01/2004 1227 1216 1235 11/01/2004 1214 1201 1217 12/01/2004 1223 1212 1230 01/01/2005 1227 1215 1235 02/01/2005 1222 1210 1228 03/01/2005 1230 1217 1238 04/01/2005 1237 1226 1248 05/01/2005 1254 1244 06/01/2005 1271 16.
 
1262 1255 1284 07/01/2005 1252 1244 1271 08/01/2005 1254 1245 1272 09/01/2005 1263 1255 1286 10/01/2005 1272 1266 1299 11/01/2005 1270 1263 1296 12/01/2005 1260 1253 1282 01/01/2006 1268 1261 1293 02/01/2006 1266 1259 1290 03/01/2006 1258 1251 1280 04/01/2006 1238 1227 1250 05/01/2006 1243 1233 1258 06/01/2006 1244 1233 1259 07/01/2006 1239 1227 1252 08/01/2006 1243 1231 1257 09/01/2006 1247 1235 1262 10/01/2006 1238 1225 1250 11/01/2006 1228 1214 1236 12/01/2006 1236 1221 1246 01/01/2007 1234 1219 1244. 02/01/2007 1228 1214 1236 03/01/2007 1222 1207 1228 04/01/2007 1223 1208 1230 05/01/2007 1227 1211 1234 06/01/2007 1217 1200 1220 07/01/2007 1217 1201 1221 08/01/2007 1210 1194 1211 09/01/2007 1202 1185 1201 10/01/2007 1187 1170 1181 11/01/2007 1193 1178 1190 12/01/2007 1187 1173 01/01/2008 1182 17.
 
1185 1171 1180 02/01/2008 1161 1147 1148 03/01/2008 1159 1145 1146 04/01/2008 1166 1153 1156 05/01/2008 1167 1153 1157 06/01/2008 1162 1148 1150 07/01/2008 1185 1174 1182 08/01/2008 1200 1191 1202 09/01/2008 1223 1218 1233 10/01/2008 1240 1241 1259 11/01/2008 1219 1221 1232 12/01/2008 1224 1227 1238 01/01/2009 1237 1242 1257 02/01/2009 1236 1241 1257 03/01/2009 1232 1235 1250 04/01/2009 1216 1216 1227 05/01/2009 1204 1201 1209 06/01/2009 1200 1197 1205 07/01/2009 1196 1193 1199 08/01/2009 1186 1184 1186. 09/01/2009 1180 1178 1179 10/01/2009 1176 1172 1172 11/01/2009 1185 1182 1184 12/01/2009 1192 1190 1194 01/01/2010 1207 1207 1214 02/01/2010 1211 1213 1221 03/01/2010 1216 1217 1226 04/01/2010 1238 1242 1257 05/01/2010 1244 1247 1263 06/01/2010 1222 1223 1233 07/01/2010 1216 1216 08/01/2010 1223 18.
 
1209 1208 1213 09/01/2010 1187 1186 1185 10/01/2010 1194 1192 1193 11/01/2010 1203 1203 1205 12/01/2010 1197 1197 1198 01/01/2011 1190 1188 1188 02/01/2011 1180 1178 1174 03/01/2011 1170 1167 1162 04/01/2011 1169 1166 1160 05/01/2011 1164 1161 1153 06/01/2011 1163 1161 1152 07/01/2011 1155 1152 1139 08/01/2011 1177 1177 1171 09/01/2011 1179 1179 1173 10/01/2011 1185 1184 1180 11/01/2011 1196 1195 1195 12/01/2011 1200 1200 1200 01/01/2012 1192 1191 1189 02/01/2012 1196 1195 1196 03/01/2012 1196 1194 1194. 04/01/2012 1204 1202 1204 05/01/2012 1211 1211 1215 06/01/2012 1218 1218 1223 07/01/2012 1214 1213 1217 08/01/2012 1200 1198 1199 09/01/2012 1199 1197 1197 10/01/2012 1204 1203 1205 11/01/2012 1199 1197 1199 12/01/2012 1201 1199 1202 01/01/2013 1204 1205 1209 02/01/2013 1217 1219 03/01/2013 1226 19.
 
1216 1217 1225 04/01/2013 1221 1222 1232 05/01/2013 1211 1212 1218 06/01/2013 1217 1219 1227 07/01/2013 1209 1209 1215 08/01/2013 1207 1206 1212 09/01/2013 1198 1196 1200 10/01/2013 1204 1202 1207 11/01/2013 1199 1196 1200 12/01/2013 1201 1198 1204 01/01/2014 1198 1195 1199 02/01/2014 1194 1190 1193 03/01/2014 1194 1190 1193 04/01/2014 1195 1191 1194 05/01/2014 1198 1194 1199 06/01/2014 1199 1194 1199 07/01/2014 1207 1202 1210 08/01/2014 1222 1219 1230 09/01/2014 1228 1227 1240 10/01/2014 1239 1238 1255. 11/01/2014 1245 1245 1264 12/01/2014 1259 1260 1282 2015 -01-01 1263 1264 1286 2015 -02-01 1281 1284 1312 2015 -03-01 1279 1281 1308 2015 -04-01 1267 1268 1291 2015 -05-01 1267 1267 1291 2015 -06-01 1274 1274 1300 2015 -07-01 1272 1272 1298 2015 -08-01 1270 1271 1296 2015 -09-01 1269 1270 1295 2015 -10-01 20.
 
1286 1288 1318 2015 -11-01 1281 1284 1313 2015 -12-01 1284 1289 1317 01/01/2016 1276 1281 1306 02/01/2016 1273 1278 1303 03/01/2016 1265 1269 1291 04/01/2016 1265 1269 1291 05/01/2016 1265 1271 1292 06/01/2016 1274 1283 1306 07/01/2016 1268 1277 1297 08/01/2016 1268 1277 1297 09/01/2016 1278 1291 1313 10/01/2016 1286 1299 1325 11/01/2016 1298 1311 1342 12/01/2016 1295 1308 1337 01/01/2017 1292 1305 1333 02/01/2017 1292 1305 1333 03/01/2017 1289 1300 1328 04/01/2017 1280 1290 1316 05/01/2017 1274 1285 1307. 06/01/2017 1267 1277 1298 07/01/2017 1260 1270 1289 08/01/2017 1257 1265 1284 09/01/2017 1263 1272 1293 10/01/2017.

 

6 hours ago, Botzwana said:

An invitation to support system' target='_blank' style=" rel="">support system" rel="">support the dinar and the strengthening of its purchasing power

 
3/1/2017

BAGHDAD / Mustafa Hashimi

strengthening of the local currency is a national task they represent thesovereignty ofIraq and preservation of state stimuli represents a great responsibility lies with therelevant authorities in the light of a series of challenges taking place in the country.

Economic academic Dr. Essam Mahouelle called to be 2017 years to strengthen the dinar 's purchasing power and strengthens confidence in the national currency , which represents the sovereignty of Iraq, noting at the same time the need to restrict foreign business dealings only in dollars.

And ways to revive the dinar and upgrade more than its value saw Mahouelle in an interview {Sabah »necessity of things , management of the country economic mentality and purely look long - term, along with the importance Quote economic experiences of states have passed similar circumstances to what Iraq is going through, as well as the reduction of trading the dollar in commercial transactions Interior tosupport system' target='_blank' style=" rel="">support system" rel="">support the national currency.

Mahouelle be regulated by the Central Bank and coordination with economic authorities and relevant ministries confirmed role in enhancing the value of the dinar by preventing the circulation of foreign currency in the local commerce for any reason whatsoever and counted only in foreign trade, indicating the importance that civil and government banks take measures that will strengthen the dealing in Iraqi dinar .

It is said that the sale price of the dollar on Monday amounted to 1310 dinars, ie 131 000 dinars, for a hundred dollars, while the total purchase price in 1300 dinars, ie 130 000 dinars, for a hundred dollars.

Mahouelle said that the decline in the value of the dinar against the dollar, in fact, began the war with Iran and the invasion of Kuwait, stressing that the policies of the former regime burned all the hopes of Iraqi economists to amend the path of the local economic situation and guide the country 's resources towards development.

He said, since the nineties of the last century and the days of international sanctions and the dollar dominates the local market transactions away from the dinar as a result of faulty economic policies pursued by the former regime.

He pointed out that when the prices of imported goods began to rise, Iraqis felt that the old price of the dinar against the dollar has fallen so much and began to think of what has become and find solutions to them.

The dollar exchange rate against the dinar has fluctuated between ascending and descending was reported in the nineties about 4000 dinars to the dollar, while the price has seen a gradual decline after 2003 to continue to decline to 1,200 dinars to the dollar in the last ten years, while he returned to rise again after the adoption of the budget in 2015 and forcing the Central Bank identifies sales of foreign currency in accordance with Article 50 of that year 's budget law.

Mahouelle explained that the International Monetary Fund and the post - World War II division of the world 's currencies to be and are non-transferable and was part of the Iraqi dinar currency is convertible.

He said the convertible currencies suitable for international settlements (ie to settle payments in foreign trade of the countries), has been preparing a list of those currencies represented currencies the victors in World War II, and did not include the Soviet bloc currencies at the time because of the approach is capitalist in the conduct of its economy and the economies of countries that fall under its control.

He said either the Iraqi currency was within the currency is convertible which can not be used for international settlements , but turning it into another currency, or to the dollar (Oogerh), and goes to Iraq to be paid the proceeds of the sale of oil to the US dollar and that the equivalent of the dinar to $ 3.32.

 

Mr. Haider Abadi better read this article first. 

[NEPatriotsFan1]

3 hours ago, new york kevin said:

Wow, now my mind is totally blown trying to follow this.  NEPatriotsFan1 thanks to you. Are you in finances like way more than me ? I did catch the possibly 65 cenr thing.

No, I'm just an avid reader  I'm an outside sales rep for a home improvement company..... but as a hobby I eat drink and sleep.... Dinar, Precious Metals, Crypto Currencies, Stocks...... my Dad was a financial planner so at a young age I think I just absorbed a lot of the lingo of Mutual Funds, Equities and Annuities and so it wasn't much of a jump to self educate on these types of things...... it was just a hunch for me regarding the tBasket of currencies being related to SDR... thanks for making my night though lol

[Butifldrm]

Many oil rich countries have moved from the Dollar Peg to  Basket Peg.  For example look at Kuwait. Notice how the exchange rate was established.

 

 

Exchange Rate Policy

 

• Overview
• Average

 

CBK's policy for the Kuwaiti Dinar (KD) exchange rate aims at maintaining and enhancing the relative stability of the KD against other currencies, and shielding the domestic economy against the impacts of imported inflation. These responsibilities reflect the importance of the exchange rate policy in the Kuwaiti economy where no restrictions are imposed on the movement of capital.

During the period from 18 March 1975 to the end of the year 2002, CBK adopted an exchange rate policy pegging the KD to a weighted basket of major currencies. That policy based the determination of the KD exchange rate on a special weighted basket of currencies of the countries that have significant trade and financial relations with the State of Kuwait. This policy proved to be effective in achieving a high degree of relative stability of the KD exchange rate against major world currencies.

Between 5 January 2003 and 19 May 2007, the KD was pegged to the US Dollar according to the Decree No. 266/2002 stipulating the peg of the KD exchange rate to the US Dollar within margins around a parity rate effective the beginning of the year 2003. The Governor at that time, H.E. Sheikh Salem Abdulaziz Al-Sabah, announced the parity rate of the KD exchange rate against the US Dollar for the first day of business in January 2003 corresponding to Sunday 5 January 2003. The exchange rate was set at 299.63 fils per dollar with margins of ±3.5%. This parity rate was set based on the same principles and considerations approved historically by CBK in determining the KD exchange rate under the previous system of the currency basket in order to ensure a smooth change from the currency basket peg to the dollar peg within margins.

Effective 20 May 2007 by virtue of the Decree No. 147/2007, the KD exchange rate was repegged to an undisclosed weighted basket of international currencies of Kuwait's major trade and financial partner countries. Reverting to the exchange rate policy followed prior to 2003 aims at protecting the purchasing power of the national currency and containing inflationary pressures affecting the local economy, after having exhausted all attempts to absorb the adverse effects of US Dollar depreciation against major currencies for an extended period of time.

 

http://www.cbk.gov.kw/en/monetary-policy/exchange-rate-policy.jsp

[sandfly]

thanks 

[Butifldrm]

The Currency-Plus-Commodity Basket: A Proposal for Exchange Rates in Oil-Exporting Countries to Accommodate Trade Shocks Automatically

 

 

Jeffrey A. Frankel CID Working Paper No. 333 December 2016. Revised March 2017 © Copyright 2017 Frankel, Jeffrey A.; and the President and Fellow of Harvard College at Harvard University Center for International Development Working Papers 2 1st draft, Dec. 31, 2016. Revised, March 19, 2017 '

 

The Currency-Plus-Commodity Basket: A Proposal for Exchange Rates in Oil-Exporting Countries to Accommodate Trade Shocks Automatically Jeffrey A. Frankel, James W. Harpel Professor of Capital Formation and Growth, Harvard Kennedy School, Harvard University This paper was written for Macroeconomic Institutions and Management in Resource-Rich Arab Economies (forthcoming, Oxford University Press).

 

The author gratefully acknowledges support from the Economic Research Forum, Cairo, Egypt, and valuable research assistance from James Fallon. Abstract The paper proposes an exchange rate regime for oil-exporting countries.

 

The goal is to achieve the best of both flexible and fixed exchange rates. The arrangement is designed to deliver monetary policy that counteracts rather than exacerbates the effects of swings in the oil market, while yet offering the day-to-day transparency and predictability of a currency peg. The proposal is to peg the national currency to a basket, but a basket that includes not only the currencies of major trading partners (in particular, the dollar and the euro), but also the export commodity (oil). The plan is called Currency-plus-Commodity Basket (CCB). The paper begins by fleshing out the need for an innovative arrangement that allows accommodation to trade shocks. The analysis provides evidence from six Gulf countries that periods when their currencies were “undervalued”, in the sense that the actual foreign exchange value lay below what it would have been under the CCB proposal, were periods of overheating as reflected in high inflation and of external imbalance as reflected in high balance of payments surpluses. Conversely, periods when the currencies were “overvalued,” in the sense that their foreign exchange value lay above what it would have been under CCB, featured unusually low inflation and low balance of payments. These results are suggestive of the implication that the economy would have been more stable under CCB. The last section of the paper offers a practical blueprint for detailed implementation of the proposal.

 

Contents

 

1. Introduction

2. Exchange Rate Arrangements in Use by Oil-exporting Countries

3. Unorthodox Proposals for Countries with Volatile Commodity Export Prices

4. The Proposal for a Currencies-plus-Commodity Basket (CCB)

5. The Currency-plus-Commodity Basket and Gulf Countries’ Recent History (a) Identifying periods of overvaluation or undervaluation by means of the CCB (b) Consequences of overvaluation or undervaluation (c) Corroborating evidence from IMF Article IV Reports (d) Overview of the statistical evidence for GCC countries

6. Design details: A CCB blueprint JEL code: F3. Keywords: basket, commodities, currency, exchange rate, Gulf, oil, peg, Saudi Arabia. 3 The Currency-Plus-Commodity Basket: A Proposal for Exchange Rates in Oil-Exporting Countries to Accommodate Trade Shocks Automatically

 

1. Introduction It has long been observed that global prices for oil are considerably more volatile than prices of manufactured goods or services. But the oil price swings in recent years have been so large that oil-exporting countries have experienced variability in their terms of trade that is even higher than usual. The period 2001-2016 saw two complete cycles: a long rise in oil prices that peaked in mid-2008, followed by a short abrupt fall in the global recession of 2008-09, and then a renewed boom in 2010-13, followed by a new crash in oil prices beginning in mid-2014. For many oil exporters these swings have wreaked havoc with their financial situation, the state of their real economy, and their government’s budget planning.1 The subject of this paper is the choice of exchange rate arrangements for an oilexporting country that wishes to reduce its future vulnerability to fluctuations in the world price of oil. The issues are surveyed briefly. But the intended contribution of the paper is to offer a very specific practical proposal, intended particularly for countries like Saudi Arabia that have traditionally pegged tightly to the dollar or countries like Kuwait that have pegged to a basket of major currencies. Those pegs have worked well in terms of offering transparency and stability. But the rigidity of the peg prevents accommodation to the biggest sort of shock that these countries face, changes in the price of oil. In extreme cases, countries like Azerbaijan and Kazakhstan have recently found that their official exchange rate peg is not sustainable and have been forced to undergo economically painful and politically humiliating devaluations. A depreciation is what would have happened anyway, if the currency had been floating all along. But typically the devaluation comes after they have spent much of their reserves, suffered an adverse shift in the composition of their balance sheets, and lost credibility for official policy pronouncements regarding long-term monetary arrangements.

 

2 The proposal, in brief, is to add to a basket of major currencies, say the dollar and euro, a third unit, namely oil. The plan is called Currency plus Commodity Basket, abbreviated CCB. It is intended to offer the best of both worlds: the stability, transparency and predictability of a peg, on the one hand, with the sustainability and economic flexibility afforded by a floating exchange rate on the other hand. The author has in the past offered proposals for related monetary regimes that were similarly designed to provide automatic accommodation to terms of trade shocks faced by commodity exporters. But the new CCB proposal is a more practical 4 and improved version, designed for these oil exporting countries in particular. The paper includes a detailed blueprint for how the plan would be put into action and subsequently maintained.

 

..........   Read More  https://growthlab.cid.harvard.edu/files/growthlab/files/wp_333.pdf

[Spider]

 

This is the problem to doing this

 

16 hours ago, Butifldrm said:

Many oil rich countries have moved from the Dollar Peg to  Basket Peg.  For example look at Kuwait. Notice how the exchange rate was established.

 

 

Exchange Rate Policy

 

• Overview
• Average

 

CBK's policy for the Kuwaiti Dinar (KD) exchange rate aims at maintaining and enhancing the relative stability of the KD against other currencies, and shielding the domestic economy against the impacts of imported inflation. These responsibilities reflect the importance of the exchange rate policy in the Kuwaiti economy where no restrictions are imposed on the movement of capital.

During the period from 18 March 1975 to the end of the year 2002, CBK adopted an exchange rate policy pegging the KD to a weighted basket of major currencies. That policy based the determination of the KD exchange rate on a special weighted basket of currencies of the countries that have significant trade and financial relations with the State of Kuwait. This policy proved to be effective in achieving a high degree of relative stability of the KD exchange rate against major world currencies.

Between 5 January 2003 and 19 May 2007, the KD was pegged to the US Dollar according to the Decree No. 266/2002 stipulating the peg of the KD exchange rate to the US Dollar within margins around a parity rate effective the beginning of the year 2003. The Governor at that time, H.E. Sheikh Salem Abdulaziz Al-Sabah, announced the parity rate of the KD exchange rate against the US Dollar for the first day of business in January 2003 corresponding to Sunday 5 January 2003. The exchange rate was set at 299.63 fils per dollar with margins of ±3.5%. This parity rate was set based on the same principles and considerations approved historically by CBK in determining the KD exchange rate under the previous system of the currency basket in order to ensure a smooth change from the currency basket peg to the dollar peg within margins.

Effective 20 May 2007 by virtue of the Decree No. 147/2007, the KD exchange rate was repegged to an undisclosed weighted basket of international currencies of Kuwait's major trade and financial partner countries. Reverting to the exchange rate policy followed prior to 2003 aims at protecting the purchasing power of the national currency and containing inflationary pressures affecting the local economy, after having exhausted all attempts to absorb the adverse effects of US Dollar depreciation against major currencies for an extended period of time.

 

http://www.cbk.gov.kw/en/monetary-policy/exchange-rate-policy.jsp

 

I totally wonder whether Iraqi academics and CBI officers realized about that article.... Hm.....

[zul]

On 02/11/2017 at 11:09 PM, happygilmores said:

A simulation of the dinar exchange rate tied to a basket of currencies, Dr. Ahmed Burayhi.
Pave: besides bilateral Linkage firm or flexible. Therefore, stabilizing the national currency to a basket of currencies is balanced among the approved exchange rate regimes in the world

 

I think and i hope the purpose of this simulation is to evaluate, analyze and forecast the behavior of the exchange rate under several weighted (currencies options) and situations, with the objective of selecting the best model (with least risk) to be implemented soon.  
I can't think of any other reason why they are doing this. Definitely this is not just for fun.

[yota691]

In order to deter the financiers of Central Terrorism, a specialized course is organized to combat money laundering

04/11/2017 12:00 am  Baghdad / Mustafa al-Hashemi  Iraq seeks, through the Central Bank, to combat money laundering and terrorist financing by adopting the latest ways and means to deter the perpetrators of these crimes to serve the national economy. The bank called on government and private banks and all authorized financial transfer companies to attend the training course which is being held for the period from 19 to 23 of this month.  "The training course will be titled (AML / CFT, Compliance and Risk Management)," said a source familiar with Al Sabah. "It is for all employees whose work is related to the subject of the course, including current account personnel who have not participated in previous sessions."  A specialized team  confirmed that "the lecturers are a specialized team of the Banking Control Department of the Central Bank." He stressed that "in order to develop the file against money laundering and financing of terrorism, the Central Bank will continue to organize such courses and workshops in a number of provinces of Iraq during the coming period."  The Central Bank organized a session on anti-money laundering, terrorism financing, compliance and risk management for the period from 17 to 20 September last held in the building of the bank under the supervision of the Center for Banking Studies, and participated in the session 61 employees from government and private banks and financial transfer companies.  Anti Money Laundering  On the other hand, a workshop on "Combating Money Laundering" was recently organized by the Institute for Economic Policy in the Arab Monetary Fund in cooperation with the MENA Financial Action Group (MENAFATF). Abdul Rahman bin Abdullah Al Humaidi, Director General and Chairman of the Fund, expressed the hope that the workshop will contribute to enriching the participants' knowledge of this important issue, which stems from developments and developments of great importance to our economies and Arab societies.  FATF  continued Hamidi "Perhaps one of the most important initiatives in this area, the establishment of the Financial Action Task Group" FATF "(Financial Action Task Force) arising from the Group of Seven industrialized nations, which has issued forty recommendation now represents the centerpiece of plans and measures to combat money laundering."  He pointed out that "the money laundering process is a system of measures aimed at concealing the real source of funds derived from illegal acts and giving legitimacy to them and then re-injecting them into the economy." He stressed that "terrorist financing operations fall within the prohibited financial operations."  The reputation and stability of countries Al-Humaidi pointed out that "the interest in combating these phenomena stems not only from the desire to combat crime in such acts, but also because these phenomena affect the financial and economic stability of any country and its reputation."  The workshop focused on the main themes of the FATF's efforts to combat money laundering and terrorism financing, the recommendations of the FATF and the technical commitment, as well as the discussion of risk and its content.

[yota691]

A simulation of the dinar exchange rate linked to a basket of currencies

 

  

 November 02, 2017

 

A short search to experience the simulator about linking the Iraqi dinar to a basket of currencies with weights varying between 50% and 65% of the dollar and other currencies remaining price (Dr. Ahmed Ali Abrihi) ... Click here

[idplzr]

8 minutes ago, yota691 said:

A simulation of the dinar exchange rate linked to a basket of currencies

 

  

 November 02, 2017

 

A short search to experience the simulator about linking the Iraqi dinar to a basket of currencies with weights varying between 50% and 65% of the dollar and other currencies remaining price (Dr. Ahmed Ali Abrihi) ... Click here

I'd be happy with 50% to 65% of the dollar. Just sayin..

[WheresmyRV?]

Praying for something to happen on 1/1/18.      Zul you are correct, they wouldn't be doing this for nothing.  This baby is about to be born I'm thinking. 

[yota691]

Conclusion of the risk management cycle with the participation of 29 banks

 

Economy News Baghdad: The training course on "Risk Management" organized by the Association of Iraqi Private Banks was concluded in three stages in cooperation with the Central Bank of Iraq and in the presence of the Spanish Ambassador to Juan Jose Scobar. 45 employees from 29 banks and financial companies took part in the session, which started on October 9th. "Iraq is in a transition to the private sector and banks will play an important role," Spanish Ambassador Juan Jose Scobar said during his speech at the end of the training session. "These courses will develop the capabilities of banking staff, which will be positively reflected on the bank." He pointed out that "25% of Iraqis have bank accounts and the project to settle salaries will increase this ratio," explaining that "some Spanish banks have a desire to visit Iraq and develop bilateral relations." "The banking sector needs such training courses in the field of risk management because it is one of the most important departments in the bank," said Hussein Lazem, director of risk management at the Central Bank. "The doors of the central bank are open to all, Financial sector ". "We are very proud of the success of the training courses held by the Association through the assurances we received from some countries," said Wadih al-Hanal, head of the Association of Iraqi Private Banks. "These training courses make Iraq match the world." He pointed out that "the Central Bank stands behind all the successes achieved by the training courses, through the strategy implemented at the current stage."   Views 97   Date Added 16/11/2017

[blueskyline]

Thank You Yota . GE DV's . Colossally Huge News .....................

[Laid Back]

Another article talking about the achievements of the banking sector

 

Looks like the Iraqi banking system is ready to match the world.!

 

Go CBI

Go new monetary policy 

Go $1:1

[wealthhound]

1 minute ago, Laid Back said:

Another article talking about the achievements of the banking sector

 

Looks like the Iraqi banking system is ready to match the world.!

 

Go CBI

Go new monetary policy 

Go $1:1

Onward and upward !!!

[Wiljor]

20 minutes ago, Laid Back said:

Another article talking about the achievements of the banking sector

 

Looks like the Iraqi banking system is ready to match the world.!

 

Go CBI

Go new monetary policy 

Go $1:1

 

You know it brother, you know it 

[Officiallytook]