TQueezy

What's the credibility rating nowadays on average for an Iraqi "economist"? Would you trust them with 20 usd to guy buy you groceries? Just sayin'…

Still dropping!

It's goin' down! One of these days, I look forward to not seeing your post Ron. No offense, you know how I mean that

The wording at the beginning made it seem like 40 dinars per dollar! darn…

Wow, that's not what I'm talking about! Increasing and decreasing in price yes sure, but not keeping some behind the scenes value secret from everything until suddenly it pops overnight. War does cause depreciations in currency values, but those are the real values, not some fake number with a hidden "real value". It's sensationalism to think otherwise.

Real rate = what it is trading for compared to the US dollar in the public markets in Iraq. That's it. They've been saying they need to get to the market rate for stability before they can do much with their currency. Sorry guys, I don't see how there's some magical underlying rate that's been hidden but kept alive since before Saddam's reign when it was around $2.50 or so per dinar. I don't think it works that way. No other country has ever done that. And please don't say Kuwait…

Regardless of what everyone wants to believe, there's no evidence the CBI is "collecting" or sucking up notes from circulation other than what is needed to be replaced. But that gets removed from circulation but not the overall money supply, so they still have placeholder value to print new notes. The articles talking about cash shortage are referring to the government's available cash to pay for things like salaries and infrastructure. Iraq has just as many notes in circulation as their daily calculations require them to have. If there is less, it's because some might be leaving the country illegally, just as with the US dollar notes they circulate. The CBI's job is to maintain balance and stability with their money supply, currency value, and storage of Iraq's sovereign assets.

I thought Iraqis referred to lower denomination dinar notes as coins? These were the paper bank notes between 1 and 500 dinar, as they represented a value less than one US dollar, thereby equating to coins in exchange rate.

Somehow Nouri al-Maliki made off with 2 tons of CBI gold!

Am I the only one that reads this as unpegging from the US dollar and allowing a float starting at the market rate?

They're saying directly here that they are selling more to keep the dollar from rising in value. It makes sense. Supply and demand. The more US dollars they sell them the less valuable in a small scale sense they become compared to the dinar. So should we really be looking for $500M + auctions and then a sudden stoppage and revaluation of the dinar? Have we had it backwards this whole time?

If anyone's wondering, this is per 100 dollars, not per single dollar. Don't go gettin' all frantic.

The latter stated, meaning Ali Mohsen Al Allaq l? The CBI governor saying it's impossible to increase the Iraqi dinar's value against the US dollar. When they start denying it, that's when something should happen.

http://cbi.iq/documents/C.B.I.%20FOREIGN%20EXCHANGE.pdf Cash up to around 31 M this auction. Hopefully it's not on the increase...

Not good at all. They want to double the amount of dinars it takes per dollar. Currently around 100,000 dinars per 100 dollars. They want 200,000 per 100 dollars, making its value half as valuable. NOT GOOD But they did say it was just a proposal and under study and it would be temporary if that path is taken. Who knows…

Maliki is such a pretentious, whiny little baby of a politician… The fact he's in such a high-ranking position after having been Prime Minister for two, almost three terms, is just sickening!

Trident Layers!

He was a mean cat (lion) who killed Simba's father and blamed it on the young cub.

Well, there ya go! Maliki is sure on that list as is his lackey Mahmoud. Get them out! Bring that money back pronto, revalue, and laugh as everyone's heads spin like exorcist.

Borrow from the citizens? You've gotta be kidding me…

These country leader phone calls must be so interesting to listen to, I'm sure they have to have interpreters and stenographers taking verbatim notes (which I'm sure are classified). Too bad they don't release that stuff to the public, the Internet would have a field day with it!

No, seriously! look here: http://dinarvets.com/forums/index.php?/topic/213817-a-member-of-the-parliamentary-finance-modern-zebari-inaccurate-and-salaries-paid-monthly/ Search for Jabbar Al-Abadi or go to the parliament.iq site and try to find him. He's not there! He's not a member of that committee. Why are we even reading Iraqi news if it's mostly false info?

Lol… Parliamentary Finance Committee has no idea what they're doing! Also, if you look up the Committe members, you won't find the person from yesterday's article - Jabbar Al-Abadi - he's not on that committee.

A difference of a million dollars was newsworthy? Pathetic…

Really? Iraqi's expectations are "lofty"? Wanting electricity to last all day, be assured their homes won't be destroyed at any time by suicide bomber or militant fighting won't kill their loved ones? That they would start getting paid for the oil they were promised when their constitution was set up? That they would have purchasing power with their own currency instead of resorting to using the infidel's dirty green paper? Lofty, psh…