Luigi1 Posted February 20, 2018 Report Share Posted February 20, 2018 Luigi says... CBI may now be in compliance of the IMF requirements to maintain a buy-sell rate spread of 2% or less. CBI must maintain that spread rate for at least 90 days before they would be allowed to adjust their rate of exchange. This is both good & bad news. The good news, a change is coming. The bad news we may have to wait another 3 months. Treat as a rumor. Not verified. Your opine. 19 Feb 2018 Tgirl... The exchange rate of the dollar in the Stock Exchange Baghdad Purchase price $ 100 = 122.750 Iraqi dinars Selling price $ 100 = 122.800 Iraqi dinars. North Stock / Arbil Purchase Price US $ 100 = 123.350 Iraqi Dinar Selling Price US $ 100 = 123.400 Iraqi Dinar. http://www.baghdadnews.info/index.php?page=article&id=32234 Punisher Still holding . invinrv Thanks Tgirl. The selling rate is ranging from 1228 to 1234. Good stuff Keep dropping! Punisher Dinar is getting stronger. invinrv A significant reduction of the dollar in Iraq Release date: 2018/2/18 9:56 • 948 times read A significant reduction of the dollar in Iraq [Ayna-Baghdad] Foreign exchange markets in Baghdad, on Sunday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1225.5 dinars per dollar, ie 122 thousand and 550 dinars per hundred dollars. The prices of selling and buying dollars in banking companies were: The sale price per dollar is 1230 dinars, or 123 thousand dinars, for one hundred dollars. The purchase price of the dollar is 1220 dinars, or 122 thousand dinars, for one hundred dollars. 20 Feb 2018 Kaperoni... Article: “Dollar rates: a slight rise in Baghdad, Erbil and stability in Basra” 1221 to $1. I believe the 2% goal is 1213 to $1 (1184 + 6 dinar CBI commission =1190 x .02 = 1213) 1 5 3 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted February 20, 2018 Author Report Share Posted February 20, 2018 20 Feb 2018 Don961... Article: “Abadi vowed to overthrow the corrupt .. These laws will protect investors” imo…the article and Abadi is stating they are getting the high commission in place to follow up on any possible corruption… reducing/removing bureaucracy…and the next few months will show the results of what they have in place…to assure potential investors that their money will be safe…and used only for its intended purposes. 4 2 Quote Link to comment Share on other sites More sharing options...
mr.unlikely Posted February 21, 2018 Report Share Posted February 21, 2018 Show me any article that says that Iraq must hold the 2% of CBI rate for 90 days. Anyone remember when Shabibi bumped the rate four dinars just to show Maliki that he could? I do. As long as the MOF is in agreement the. CBI can do whatever they want to the exchange rate. 2 2 Quote Link to comment Share on other sites More sharing options...
King Bean Posted February 21, 2018 Report Share Posted February 21, 2018 2 hours ago, mr.unlikely said: Show me any article that says that Iraq must hold the 2% of CBI rate for 90 days. Anyone remember when Shabibi bumped the rate four dinars just to show Maliki that he could? I do. As long as the MOF is in agreement the. CBI can do whatever they want to the exchange rate. I believe I have read that CBI must hold the buy/sell rate within 2% "to move to Article 8 and allow it to become international". They can change those numbers in-country anytime they choose to, like Shabibi did (back in 2011 I think). You are correct in that MOF and CBI can change those numbers at will, but the IMF has more strict benchmarks that must be met for this thing to go international. There's another article on DV somewhere, from the past few days, where someone brought in link to actual IMF article discussing 2% and 90-day targets. I will see if I can find it. 1 1 Quote Link to comment Share on other sites More sharing options...
King Bean Posted February 21, 2018 Report Share Posted February 21, 2018 Found it. Danielchu contribution............ 1 Quote Link to comment Share on other sites More sharing options...
Floridian Posted February 21, 2018 Report Share Posted February 21, 2018 (edited) 3 hours ago, mr.unlikely said: Show me any article that says that Iraq must hold the 2% of CBI rate for 90 days. Anyone remember when Shabibi bumped the rate four dinars just to show Maliki that he could? I do. As long as the MOF is in agreement the. CBI can do whatever they want to the exchange rate. Here it is: “The exchange rate may fluctuate within narrow margins of less than ±1 percent around a central rate, or the maximum and minimum values of the exchange rate may remain within a narrow margin of 2 percent for at least three months.” http://www.imf.org/external/pubs/ft/issues/issues38/ei38.pdf Originally posted by Danielchu. Edited February 21, 2018 by Floridian 1 2 Quote Link to comment Share on other sites More sharing options...
King Bean Posted February 21, 2018 Report Share Posted February 21, 2018 On 2/20/2018 at 6:04 AM, Luigi1 said: Luigi says...CBI may now be in compliance of the....buy-sell rate spread of 2% or less. The market price....in Baghdad was 1225.5 dinars per dollar. 20 Feb 2018 Kaperoni... I believe the 2% goal is 1213 to $1 (1184 + 6 dinar CBI commission =1190 x .02 = 1213) Luigi. Nowhere in any of this garbage does it say they are at 1213. It says 1225. And someone needs basic math skills my dachshund possesses. 1190 x .02 = 23.8 1190 x 1.02 = 1213.8 Class dismissed. Detention hall for you. 3 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted February 22, 2018 Author Report Share Posted February 22, 2018 here's another article that suggests IMF & the 90 day, 2% spread rule... IMF can make exceptions to the ruling in some cases. 2-22-2018 Newshound Guru Kaperoni Article: "Source: The increase in the depreciation of the dollar against the dinar due to the actions of the Central Bank " ...the Market Rate will never be less than the Official Rate at the CBI. And the CBI cannot stop the auctions until there is an alternative for international commerce. I believe I am correct, the 2% rule is calculated off the Official Rate plus CBI commissions (1182 + 8 dinar commissions X .02 = 23.8) which puts it at 1213 to $1. How long the CBI must wait may be subject to IMF review. We know they were not giving them an exception on the spread, but they may give them an exception on time (90 day rule) due to the urgency of maintaining stability and encouraging investment. 3 2 Quote Link to comment Share on other sites More sharing options...
Floridian Posted February 22, 2018 Report Share Posted February 22, 2018 2-22-2018 Newshound Guru Kaperoni Article: "Source: The increase in the depreciation of the dollar against the dinar due to the actions of the Central Bank" ...the Market Rate will never be less than the Official Rate at the CBI. And the CBI cannot stop the auctions until there is an alternative for international commerce. I believe I am correct, the 2% rule is calculated off the Official Rate plus CBI commissions (1182 + 8 dinar commissions X .02 = 23.8) which puts it at 1213 to $1. How long the CBI must wait may be subject to IMF review. We know they were not giving them an exception on the spread, but they may give them an exception on time (90 day rule) due to the urgency of maintaining stability and encouraging investment. 1 2 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted February 24, 2018 Author Report Share Posted February 24, 2018 here's another article related to the above... 2-23-2018 Newshound Guru mike ...the current reality is that the dinar is pegged to the dollar and under Article XIV, there is just about zero demand for a currency you can't spend outside the country, pragmatically, why would anyone want it? To become a currency that's internationally recognized under Article VIII with the IMF they have to hold this rate for a minimum of 90 days, it's too easy to manipulate the rate for a short term and it doesn't prove that Iraq has it's act together and has the ability to maintain stability. There's no reason any other country would accept it for payment for imports, they want the dollar. Like always, time will tell us what's really going on, if Iraq can get the rate within the 2% band for minimum compliance with the IMF"s MCP requirements, all they have to do is hold it and hopefully they can accept the responsibilities Article VIII. 3 2 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted March 2, 2018 Author Report Share Posted March 2, 2018 here's another article related o the above... CBI has been 2% compliant for a month, must be for 90 days. 3-2-2018 Newshound Guru Kaperoni …Over the last year or so the central bank has taken the development of the banking system seriously and started to make some serious changes in Iraq…The reality is the Central Bank of Iraq can’t do anything until they are in compliance [2% rule]. That’s the bottom line. If they want to open their banking system. If they want to make the dinar International tradable…where the dinar is traded among the Central Banks around the world…they have to get into compliance like every other bank in the world. This was the last restriction on Iraq. When you make your currency internationally recognized and internationally convertible more than likely they are also going to change the exchange rate regime…right now it’s pegged. We believe they are going to go to some kind of float which will allow the currency value to go up. 3 2 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted March 30, 2018 Author Report Share Posted March 30, 2018 here's another artile related to the above... 3-29-2018 *** Dinar Guru News Update *** For the THIRD straight day, the CBI is reporting a new 52-week high for the dinar market rate...it's now 1205 (remember the lower this number, the stronger the dinar). Guru Kaperoni, along with a few other gurus, feels the IMF "2%-for 90 days rule" must be satisfied before the dinar can reach international acceptance...he feels the dinar official rate and market rate have been within 2% for the past couple weeks already! You can follow the CBI official rate and CBI reported market rate in the Dinar Guru Recource Bar on the left of this page. [The latest guru updates will continue below..] 3-29-2018 Newshound Guru Kaperoni Another low auction day around 1205 to $1 US dollar. My calculations put this at about two and a half weeks now of auctions that are within compliance. If the 90-day rule is true, I would expect the CBI to request article VIII in early June. Could or would the CBI wait before moving to Article VIII? It seems unlikely they would since continuing the auctions at these levels reduces the reserves. And initiating foreign investment is a top priority. One wild card in all of this is the timing of the upcoming new elections that coincidentally are occurring at the same time monetary policy needs to engage with the world financial system. 4 2 Quote Link to comment Share on other sites More sharing options...
IQD=freedom Posted June 10, 2018 Report Share Posted June 10, 2018 On 2/21/2018 at 10:34 AM, King Bean said: I believe I have read that CBI must hold the buy/sell rate within 2% "to move to Article 8 and allow it to become international". They can change those numbers in-country anytime they choose to, like Shabibi did (back in 2011 I think). You are correct in that MOF and CBI can change those numbers at will, but the IMF has more strict benchmarks that must be met for this thing to go international. There's another article on DV somewhere, from the past few days, where someone brought in link to actual IMF article discussing 2% and 90-day targets. I will see if I can find it. chrome-distiller://877e394c-da51-4367-961c-bb38c2a10a43/?time=106701403&url=http%3A%2F%2Fwww.imf.org%2Fexternal%2Fnp%2Fmfd%2Fer%2F2004%2Feng%2F1204.htm How do you know that they will move to article 8 after the 90 2% compliance? 1 Quote Link to comment Share on other sites More sharing options...
IQD=freedom Posted June 10, 2018 Report Share Posted June 10, 2018 Right. What's the point of those IMF guidlines? 1 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted June 10, 2018 Author Report Share Posted June 10, 2018 Luigi asks...Co-incidence? Does timing have to do with the RV? CBI within IMF 2% compliance around the 15th. UN Operational Rates posted around the 15th. Ramada-EID ends around the 15th. G7 Summit concludes. NK-US peace talks conclude. 6-10-2018 Newshound Guru Kaperoni So if we're waiting for the formation of the government to occur before any kind of monetary reform can go forward, it looks like we might be waiting an extra month or so. I think we were all hoping for the formation of the government to occur by the end of June and to coincide with the cbi's three-month IMF requirement (June 15 or so) compliance but that looks like it might be pushed back until the end of July or August. If so we have to hope that the CBI can continue to maintain spread within 2% or less for that duration. In the meantime I am looking for some news that would indicate that the IMF has scheduled their Article IV Consultation with Iraq. I believe this will occur at the same or about the same time as the CBI's begins monetary reform. 2 2 Quote Link to comment Share on other sites More sharing options...
Floridian Posted June 10, 2018 Report Share Posted June 10, 2018 41 minutes ago, IQD=freedom said: chrome-distiller://877e394c-da51-4367-961c-bb38c2a10a43/?time=106701403&url=http%3A%2F%2Fwww.imf.org%2Fexternal%2Fnp%2Fmfd%2Fer%2F2004%2Feng%2F1204.htm How do you know that they will move to article 8 after the 90 2% compliance? They had better accept Article VIII. If they don't they can't have an internationally traded currency. Without that, how will they come into this century? Rebuild their war-torn country? Etc, etc, etc. 1 1 2 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted June 10, 2018 Report Share Posted June 10, 2018 With all the international trade, to include the flagging of their own ship with oil for the States, they better get a currency. 7 Quote Link to comment Share on other sites More sharing options...
King Bean Posted June 11, 2018 Report Share Posted June 11, 2018 2 hours ago, IQD=freedom said: How do you know that they will move to article 8 after the 90 2% compliance? We don't, but they are 'eligible' to apply for that change once they have met the 90-day requirement. If they are going to move ahead on their monetary reform, and all that will bring to their economy, then it's a next logical move. But like Botz implied......this is Iraq we're talking about. Logic goes out the window. 3 Quote Link to comment Share on other sites More sharing options...
IQD=freedom Posted June 11, 2018 Report Share Posted June 11, 2018 27 minutes ago, King Bean said: We don't, but they are 'eligible' to apply for that change once they have met the 90-day requirement. If they are going to move ahead on their monetary reform, and all that will bring to their economy, then it's a next logical move. But like Botz implied......this is Iraq we're talking about. Logic goes out the window. It does make sense. Is there an article or site that says they'll be eligible? Quote Link to comment Share on other sites More sharing options...
DoD Posted June 11, 2018 Report Share Posted June 11, 2018 (edited) 46 minutes ago, IQD=freedom said: It does make sense. Is there an article or site that says they'll be eligible? Let me suggest a site called DinarVets, a lot of smart people on there. Let me also suggest staying out of the rumor section on there an get into the news section until you learn an get caught up on the news an IMF guildlines. This rumor section is for entertainment purposes only, do not take anything read here seriously. Some fellas on there name Yota an Thugs have posted thousands of news articles you can read an get caught up on Iraq, hope this helps... Edited June 11, 2018 by DoD 2 1 Quote Link to comment Share on other sites More sharing options...
IQD=freedom Posted June 11, 2018 Report Share Posted June 11, 2018 22 minutes ago, DoD said: Let me suggest a site called DinarVets, a lot of smart people on there. Let me also suggest staying out of the rumor section on there an get into the news section until you learn an get caught up on the news an IMF guildlines. This rumor section is for entertainment purposes only, do not take anything read here seriously. Some fellas on there name Yota an Thugs have posted thousands of news articles you can read an get caught up on Iraq, hope this helps... Lol I pull others out of the guru pit. I know. I tried asking about this months ago to no avail. The articles that come up from dinarvets, in a Google search, have been moved into VIP. So I have read the IMF article over and over periodically for months and no where does it state the repercussions of not being in compliance nor does it state what happens once obtaining the 2% compliance for 3 months. Quote Link to comment Share on other sites More sharing options...
normala rashid Posted June 11, 2018 Report Share Posted June 11, 2018 11 hours ago, Floridian said: They had better accept Article VIII. If they don't they can't have an internationally traded currency. Without that, how will they come into this century? Rebuild their war-torn country? Etc, etc, etc. it’s difficult to trade without own currency to big business . I miss saddam . Saddam is like lion in iraq everyone scared to fight with him about desicion 1 3 Quote Link to comment Share on other sites More sharing options...
hspotman Posted June 11, 2018 Report Share Posted June 11, 2018 3 hours ago, normala rashid said: it’s difficult to trade without own currency to big business . I miss saddam . Saddam is like lion in iraq everyone scared to fight with him about desicion Huh.....REALLY??????? 3 Quote Link to comment Share on other sites More sharing options...
jordan1 Posted June 11, 2018 Report Share Posted June 11, 2018 The gurus finally found the reason to show this being dragged down the road another 90days. Bet we don't see an RV in 90 days .hey I bet we won't see an RV this year. Don't know what there reasoning will behind it by . but I am sure they will twist some news around to justify it. 1 1 3 Quote Link to comment Share on other sites More sharing options...
IQD=freedom Posted June 11, 2018 Report Share Posted June 11, 2018 13 hours ago, DoD said: Let me suggest a site called DinarVets, a lot of smart people on there. Let me also suggest staying out of the rumor section on there an get into the news section until you learn an get caught up on the news an IMF guildlines. This rumor section is for entertainment purposes only, do not take anything read here seriously. Some fellas on there name Yota an Thugs have posted thousands of news articles you can read an get caught up on Iraq, hope this helps... I found the answer if you'd like to listen. 1 1 Quote Link to comment Share on other sites More sharing options...
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