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Central Bank: The currency outside the banks amounted to more than 40 trillion dinars

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Central Bank: The currency outside the banks amounted to more than 40 trillion dinars

 
3427.jpg
Logo of the Central Bank of Iraq

 

 

Economy News Baghdad:

The Central Bank of Iraq, the currency outside the banks amounted to more than 40 trillion dinars.

The central bank in a report seen by "economy News", "The currency outside the banks amounted to 40.18 trillion dinars last March," noting that "the currency outside the banks amounted to 37.5 trillion dinars in March last year."

He pointed out that "the capital of commercial banks during the first quarter of this year registered a rise of 25.3% compared to last year to reach 12.9 trillion dinars," noting that "private banks constitute the largest proportion of capital banks to reach 9.7 trillion dinars and government banks with capital 3.3 trillion dinars. "

 

 

Views 30   Date Added 11/05/2017

 

 

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1 hour ago, yota691 said:

noting that "private banks constitute the largest proportion of capital banks to reach 9.7 trillion dinars and government banks with capital 3.3 trillion dinars

i would imagine  out of the  12.9 trillion ,  governmental and central banking firms , hold  11 trillion ,  a lot of  government hands are pouring cash into Iraq ,  and I would guess they get dinar for travel inside Iraq .  not to mention the Iraqi people outside Iraq getting  the dinar in credit card format ----   

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oh  snap ! I just did the  multiplication   hahahaha  yeah  it says that  right there  :wacko: 

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so now they are not worried about having to give dinar a value ?   they know who owns all the dinar now !   give the dinar a 1 to 1 value  and the dinar can be a  reserve currency  !  :eat:

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Not wanting to be a Debbie Downer here, but with 40 trillion IQD still outstanding, I just don't see them coming out at a new rate of $1/IQD...or even at $.86.  Yes, I know we have the April 2012 SIGR report stating that Iraq planned to re-value the IQD to "slightly less than a dollar," and we reportedly have the Ministry of Planning Memorandum of Understanding Feasibility Study talking about $1.134 dollar per dinar (sorry, people, but when that MOP document came out, I distinctly remember it stating  a value of 1.134 dinars per dollar, i.e., $.88/dinar).  However, those two documents came out when their was only 20 trillion IQD outstanding.  If their are now 40 trillion IQD outstanding, the math of those previous estimates dictates they they should be cut in half to $.43/dinar and $.44/dinar, respectively. 

 

To put things into perspective, if someone bought one million IQD at the price of $1,000 per million and it straight-up re-values to $.43/IQD, that one million IQD would then be worth $430,000, yielding you a phenomenal 43,000% Return on Investment.  Yeah, it's not 1-to 1, but it'll still be the best ROI you'll ever see...by far!!!

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28 minutes ago, Rabbi said:

Not wanting to be a Debbie Downer here, but with 40 trillion IQD still outstanding, I just don't see them coming out at a new rate of $1/IQD...or even at $.86.  Yes, I know we have the April 2012 SIGR report stating that Iraq planned to re-value the IQD to "slightly less than a dollar," and we reportedly have the Ministry of Planning Memorandum of Understanding Feasibility Study talking about $1.134 dollar per dinar (sorry, people, but when that MOP document came out, I distinctly remember it stating  a value of 1.134 dinars per dollar, i.e., $.88/dinar).  However, those two documents came out when their was only 20 trillion IQD outstanding.  If their are now 40 trillion IQD outstanding, the math of those previous estimates dictates they they should be cut in half to $.43/dinar and $.44/dinar, respectively. 

 

To put things into perspective, if someone bought one million IQD at the price of $1,000 per million and it straight-up re-values to $.43/IQD, that one million IQD would then be worth $430,000, yielding you a phenomenal 43,000% Return on Investment.  Yeah, it's not 1-to 1, but it'll still be the best ROI you'll ever see...by far!!!

AND I  WOULD BE  HAPPY WITH THAT   :crossedfingers:

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And I go by an article put out THIS YEAR in January stating the Dinar will be over $3...

 

An invitation to 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 to 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.

He said that Iraq, which reached a population of 8 million people, citizens did not know a dollar coin and Ashklh did not deliberate it within the borders of the country at all, as hard place to find a store, in that era, displays his goods are priced in dollars.

He Mahouelle at the conclusion of his speech that traders importers of goods (commercial / industrial / agricultural) were turning the dinar to the dollar when paying their price through banks, where the audience did not feel the importance of the US currency , but when traveling abroad and are turning to banks turned them dinar to the dollar and give them foreign currency in cash or travelers instruments after the central bank 's approval and under the foreign exchange law.

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I think the central bankers knew the dinar would be crazy  ( scattered and smothered  Image result for photo of waffle house scattered and smothered )  by other countries , and other central banking identities ...  and  I do believe they are still moving the actual amounts to be higher than they might really be ...  ( actual dinar paper that is ...  now the digital numbers  might be this high ,   and you know the old saying  " we are filthy rich on paper  but only have  20 dollars in our pockets " , might be applied here !  there is way to much csh flow going into the Iraqi areas not to have some sort of dinar foot print going out !  just my   Image result for photo of 2 cents

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8 minutes ago, jeepguy said:

AND I  WOULD BE  HAPPY WITH THAT   :crossedfingers:

 

I’ll take .44, too!  The Saudis are at .27/1.00 so at this point, I’ll take anything.

 

If it does come out at less than 1/1, I’ll cash some out and sit on the rest.

Edited by drj
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....l'll take my smothered hash-browns crispy, light on the jalapeño, with chilli and cut the gravy...a large glass of OJ and some coffee please.....

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As long as this train ride has been running, I would like it to at least pay back for the cash I have sitting and being spent on holding my accounts open. Just so my other half could see it as a break even investment. 😨

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The lesser amount is OK . But I would much rather have what Botswana 🇧🇼 is having and a Pecan Waffle with a side of bacon 🥓 . Thank You very much for the reminder . 

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1 hour ago, ChuckFinley said:

I am in for anyone of those and I will have the Chicken and Waffle Special.  

I will buy a Waffle House francise & let y’all eat for free...two visits per person🥓🍳🥞☕️

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3 minutes ago, Retiredofficer said:

I will buy a Waffle House francise & let y’all eat for free...two visits per person🥓🍳🥞☕️

That’s not a bad idea at all . Florida could always use another Waffle House when I relocate there

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3 hours ago, Rabbi said:

Not wanting to be a Debbie Downer here, but with 40 trillion IQD still outstanding, I just don't see them coming out at a new rate of $1/IQD...or even at $.86.  Yes, I know we have the April 2012 SIGR report stating that Iraq planned to re-value the IQD to "slightly less than a dollar," and we reportedly have the Ministry of Planning Memorandum of Understanding Feasibility Study talking about $1.134 dollar per dinar (sorry, people, but when that MOP document came out, I distinctly remember it stating  a value of 1.134 dinars per dollar, i.e., $.88/dinar).  However, those two documents came out when their was only 20 trillion IQD outstanding.  If their are now 40 trillion IQD outstanding, the math of those previous estimates dictates they they should be cut in half to $.43/dinar and $.44/dinar, respectively. 

 

To put things into perspective, if someone bought one million IQD at the price of $1,000 per million and it straight-up re-values to $.43/IQD, that one million IQD would then be worth $430,000, yielding you a phenomenal 43,000% Return on Investment.  Yeah, it's not 1-to 1, but it'll still be the best ROI you'll ever see...by far!!!

if i may.. this says the amount of currency out side of iraq is equal too in dinar that amount includes dollars and all other currency that iraq holds!

Weight 2016 2015   Iraqi Dinar 27.66 /12.55 US Dollar 48.39/ 57.24 Euro 12.13 20.44 SDR 2.84 - Others 8.98

45% to be dollars!

Edited by danielchu
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37 minutes ago, Retiredofficer said:

I will buy a Waffle House francise & let y’all eat for free...two visits per person🥓🍳🥞☕️

 

Thats' what I'm talking about ! Entrepreneurship R.O. - I'ma BIG Tipper :bagofmoney:

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There is the chunky cash again.!

 

How is possible that the chunky cash continues growing when the CBI has been reducing the note count for many years?

 

We know the CBI and others banks have a liquidity problem, is this caused  by chunky cash or the reduction of note count?

 

We know the CBI plan is to give real market value to the dinar.

 

I believe the CBI put this kind information out there to keep currency speculators in the dark, guessing and scared.!

 

just my opinion.!

 

Go CBI

Go new monetary policy 

Go RV

 

 

 

 

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One article that floated around was covering the IQD 1 and a half times......

 

Alsumaria News / Baghdad said Prime Minister Haider al-Abadi , Wednesday, that the Iraqi currency backed strongly there is no fear on the dinar exchange rate against the dollar, while noting the existence of fraud and conspiracy to influence the current situation. Ebadi said in a press conference held at the airport in Baghdad before leaving for Tehran and I followed Alsumaria News that "the Iraqi currency backed strongly, the central bank has large reserves that cover the Iraqi currency and a half times," noting that "there is no fear of the Iraqi dinar."

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2 hours ago, Retiredofficer said:

I will buy a Waffle House francise & let y’all eat for free...two visits per person🥓🍳🥞☕️

Careful

i eat alot

and can drink more

 

2 free visits

i am good with

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The Central Bank of Iraq, the currency outside the banks amounted to more than 40 trillion dinars.
The central bank said in a report that “the currency outside the banks amounted to last March 40.18 trillion dinars,” noting that “the currency outside banks amounted to 37.5 trillion dinars in March last year.”
He pointed out that “the capital of commercial banks during the first quarter of this year registered a rise of 25.3% compared to last year to reach 12.9 trillion dinars,” noting that “private banks constitute the largest proportion of capital banks to reach 9.7 trillion dinars and government banks with capital 3.3 trillion dinars. “

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