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1 hour ago, DinarThug said:

 

This Idiot Kaperoni Floats Through Life Without A Clue - It’s Been Clearly Spelled Out By The CBI Governor That He’s Just Completely Sunk Krap’s Precious Little Float Theory And Yet He’s Still Desperately Grabbing Onto His Teletubbie Floaties While Kicking And Screaming In The Baby Pool ! :o 

 

:D  :D  :D 

 

And so is his buddy Ernoste who think 'financial inclusion' to mean  international acceptance of the dinar......:rolleyes:

 

 Newshound Guru Enorrste   Article:  "Central Bank: float the dinar is difficult to apply in Iraq Alaq is giving a progress report on the plans to open the currency to a float.  They have taken "a package of measures" to bring them to the point where a float will work. ...Then he goes on to state that they are making efforts to achieve "financial inclusion" which I take to mean international acceptance of the dinar, now that the security and financial stability have been dealt with.  Finally, he concludes by stating that paying federal employees through bank deposits is working to get people to use the banks.

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I don't deny my total understand on currency trading is limited. But we here all hold Dinars. If and when they revalue their currency some if not all of us will trade or exchange our Dinars for the currency of our country. For me the USD.

So Iraq needs to be able to fund this exchange. I go to a bank hand them my Dinars, the bank hands me USD. Then the bank in effect hands the Dinars to our Federal Reserve. Then the FR hands the bank USD to replace their USD. Now the Federal Reserve either hands CBI the Dinars in return for the USD that the CBI is holding. Or the FR holds the Dinars as reserve currency, especially if the dinar is worth more than the dollar.

So no matter what happens Iraq must be able to cover the cost of the revaluation.  CAN THEY???

Sorry for this rambling, but I'm just trying to figure out what they are waiting for. I personally can't see anything less than one to one exchange working. Especially in country. But 3 to 1 seems better for other countries Central Banks.

As this would improve their balance sheets in held foreign currency reserves.

Edited by Lucky Dragon
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46 minutes ago, Carrello said:

Lucky Dragon, the thought has been that when the exchanged IQD was funneled back to the UST, it would stay here as US foreign reserves and never be returned to Iraq.

Ok, thanks for that.  Carrello. I just heard they have a live rate in Iraq. It is live on cards that folks inside and outside the country have. I heard it is live on their ATM machines. The rate is $3.37.

I pray that this information is accurate and true. But it appears the RV has hit!!

 

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15 minutes ago, Lucky Dragon said:

Ok, thanks for that.  Carrello. I just heard they have a live rate in Iraq. It is live on cards that folks inside and outside the country have. I heard it is live on their ATM machines. The rate is $3.37.

I pray that this information is accurate and true. But it appears the RV has hit!!

 

 

Please please please be true. :calculator:

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8 hours ago, Lucky Dragon said:

So Iraq needs to be able to fund this exchange. I go to a bank hand them my Dinars, the bank hands me USD.

 

lucky D, in all reality imo iraq is only concerned with the currency inside its borders whats left the country is gone and will be dealt with by other central banks , no one knows how any of it will come to pass , if one's plan is to convert back to usd from iqd at whatever time u choose who knows how xchanges will be handled ,if this goes how many dream it ( a large windfall ) and if u plan on using the banking system u will not be walking out with bundles of cash in all likelihood u will need an account and ur money placed in it digitally like any other banking transaction today.. almost every large financial transaction / major purchases etc., physical currency is never involved its weird reading about bank stories and doing bank exchanges again I would of thought most holding dinar today traveled this road years ago ,,, all that aside because im always trying to learn something new I was reading the history again right after saddam's days about the currency , the saddam notes being retired the swiss dinar and the iqd most hold today and how all the pallets of usd flown over supposedly had a marked difference to always be able to know its origin / traceability ..... disclaimer "this is all just my personal iraq conjecturing never to be used for personal investment strategies " lol ,,

all the best to us all 

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18 minutes ago, Abadiusuck said:

I take that back , atleast clown is in line serving hot buns

 

I’ve Made More Money Selling Food To The TNT Members Standing In Line At The Bank Every Week Then I Have Off Of This Endlessly Comatose Investment ...

 

 

 

Plus I Hired Bruce And Luigi To Serve Up The Steamy Buns ...

 

:D  :D  :D 

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Thanks DT.....

1 hour ago, DinarThug said:

 

I’ve Made More Money Selling Food To The TNT Members Standing In Line At The Bank Every Week Then I Have Off Of This Endlessly Comatose Investment ...

 

 

 

Plus I Hired Bruce And Luigi To Serve Up The Steamy Buns ...

 

:D  :D  :D 

.....Be cautious, very cautious of anything that resembles mayonnaise on those steamy buns....

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26-12-2017 01:57 PM
image.php?token=ee1e473f232945bf659c2da0c49946e5&size=
 


 

 

Iraq's central bank governor Ali al-Alaq said on Tuesday that the bank's reserves of foreign currency amounted to 48 billion dollars, pointing out that Iraq will not resort to floating the currency . 

"The central bank reserves of foreign currency currently amount to 48 billion dollars," al-Alak said in a press statement Tuesday. He added that "Iraq, which is one of the oil states depends on a fixed exchange rate, or fixed with flexibility, and does not resort to the method of floating, unless their reserves are controlled to a level without enough, which did not happen either in Iraq or other oil countries ."

"The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies ."

The floating currency is to make the exchange rate of this currency fully liberalized, so that the government or central bank does not interfere in determining it directly, but is automatically discharged in the currency market through the mechanism of supply and demand, which allows to determine the exchange rate of the national currency against foreign currencies .

 

Floating exchange rates fluctuate constantly with every change in supply and demand for foreign currencies, so they can change several times per day .

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Tuesday, December 26,

 

Search Bigger
 
 
 
 
 

Alsumaria News / Baghdad 
revealed the governor of the Central Bank of Iraq on the Keywords, Tuesday, that the bank reserves of hard currency of $ 48 billion, adding that Iraq would not resort to float the currency. 

Al-Alak said in a press statement to the newspaper "Arab African", read by Alsumaria News, "The reserve of the Central Bank of foreign currency currently amounts to 48 billion dollars." 

"Iraq, which is one of the oil states depends on a fixed exchange rate, or fixed with flexibility, and does not resort to the float method, unless their reserves are controlled to a level without enough, which did not happen either in Iraq or other oil countries."

 


"The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies." 

The floating currency is to make the exchange rate of this currency fully liberalized, so that the government or central bank does not interfere in determining it directly, but is automatically discharged in the currency market through the mechanism of supply and demand, which allows to determine the exchange rate of the national currency against foreign currencies. 

Floating exchange rates fluctuate constantly with every change in supply and demand for foreign currencies, so they can change several times per day.

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Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to 48 billion dollars, pointing out that Iraq will not resort to floating the currency.
“The central bank reserves of foreign currency currently amount to 48 billion dollars,” al-Alak said in a statement to the African-Arab newspaper.
“Iraq, which is one of the oil countries depends on a fixed exchange rate, or fixed with flexibility, and does not resort to the method of flotation, unless their reserves are controlled to a level without enough, which did not happen either in Iraq or other oil countries.”
“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”
The floating currency is to make the exchange rate of this currency fully liberalized, so that the government or central bank does not interfere in determining it directly, but is automatically discharged in the currency market through the mechanism of supply and demand, which allows to determine the exchange rate of the national currency against foreign currencies.
Floating exchange rates fluctuate constantly with every change in supply and demand for foreign currencies, so they can change several times per day.

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 Economic development  26-12-2017  14:28  0  410
 

Iraq reveals its reserves of hard currency

 
   
 
img
 
 

Iraq's central bank governor Ali al-Alaq said on Tuesday that the bank's reserves of foreign currency amounted to 48 billion dollars, pointing out that Iraq will not resort to floating the currency.

"The central bank reserves of foreign currency currently amount to 48 billion dollars," al-Alak said in a press statement Tuesday. He added that "Iraq, which is one of the oil states depends on a fixed exchange rate, or fixed with flexibility, and does not resort to the method of floating, unless their reserves are controlled to a level without enough, which did not happen either in Iraq or other oil countries."

"The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies."

The floating currency is to make the exchange rate of this currency fully liberalized, so that the government or central bank does not interfere in determining it directly, but is automatically discharged in the currency market through the mechanism of supply and demand, which allows to determine the exchange rate of the national currency against foreign currencies.

 

Floating exchange rates fluctuate constantly with every change in supply and demand for foreign currencies, so they can change several times per day.

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6 minutes ago, HowieC said:

There ya go Kapistrami...put that in your pipe and smoke it !   :lol:

 

Thank you so much Yota for your tireless effort in bringing us the news

Thanks Yota and good morning DV ! Agreed HowieC , One to One or a little better is the only way to have constant stability with the money supply...... GO RV TODAY ! :bagofmoney:

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1 hour ago, yota691 said:
 Economic development  26-12-2017  14:28  0  410
 

Iraq reveals its reserves of hard currency

 
   
 
img
 
 

Iraq's central bank governor Ali al-Alaq said on Tuesday that the bank's reserves of foreign currency amounted to 48 billion dollars, pointing out that Iraq will not resort to floating the currency.

"The central bank reserves of foreign currency currently amount to 48 billion dollars," al-Alak said in a press statement Tuesday. He added that "Iraq, which is one of the oil states depends on a fixed exchange rate, or fixed with flexibility, and does not resort to the method of floating, unless their reserves are controlled to a level without enough, which did not happen either in Iraq or other oil countries."

"The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies."

The floating currency is to make the exchange rate of this currency fully liberalized, so that the government or central bank does not interfere in determining it directly, but is automatically discharged in the currency market through the mechanism of supply and demand, which allows to determine the exchange rate of the national currency against foreign currencies.

 

Floating exchange rates fluctuate constantly with every change in supply and demand for foreign currencies, so they can change several times per day.

 

Dang, this thing has to be ready to pop at anytime!  


Thanks Yota!

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  • yota691 changed the title to Float currency

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