[CBI News 11/21/2021]

9 hours ago, Half Crazy Runner said:

It looks like they made these laws a while ago, but just now changed the specific amounts:

 

Based on the anti-laundering law
Money and Terrorism Dependence No. 8 of 2018; and the enforcement of controls
No. 1 for the year 2019 (amended to Regulation No. 1 for the year 2019?: The following should be adhered to:

Anyone remember what the limit before this?

[Qubad Talabani: The Iraqi Council of Ministers released the region's share of the budget]

6 minutes ago, GreedyDinar07 said:

GregHi, the best thing you could have done was not come back to this site, it will saved you a headache unless you are here for the comments like I am. To answer your question, I have no idea and they probably don't either! Everything was looking good a couple of months ago now I don't know what the hell is going on. They said the budget was passed a while back and now they are discussing it. Looks like the old Iraq if you ask me. 

Agreed with you GD..confuse what is going on with Iraq

[Iraq: a new rise in the dollar exchange rate and warnings of exacerbating poverty rates]

8 hours ago, WheresmyRV? said:

About time the CBI does something with their rate seeing that inflation is starting to balloon up.

3 years plan...by that time their country turn up and down

[THE CENTRAL BANK SETTLES THE DOLLAR ORDER FOR THE COMING YEARS]

Really hope this statement was like swiss franc before.. they denied depeg froum euro but suddenly the depeg from euro

[THE CENTRAL BANK SETTLES THE DOLLAR ORDER FOR THE COMING YEARS]

If someone has their time..look back at imf report article 14 consultation..

Got a table there stated actual value iqd appreciate almost every year..

[AL-KAZEMI: CANCELED THE CURRENCY AUCTION, AND SAVED 6 BILLION THAT WAS GOING TO THE CORRUPT]

anybody can give me clear picture?going to cancel or already cancel?

[Canceling The Currency Auction, Reducing Borrowing, And “Isolating” The Central Bank’s Reserves ... The Most Important Thing For Hard Currency In The 2021 Budget !]

haiyo iraqis..why demand old rate ..confirm cbi can go back..request something extraordinary lor....1usd/iqd..wasting time 

[Canceling The Currency Auction, Reducing Borrowing, And “Isolating” The Central Bank’s Reserves ... The Most Important Thing For Hard Currency In The 2021 Budget !]

17 hours ago, RV MY DINAR 3USD said:

why did the iraqi citizens not demand the rate to at least 1:1 instead of 1:1200 if they want imported goods very very very cheap? why why why? for example, let's say if the price of 1 bag of imported rice costs= 10 usd/bag ( cbi official exchange rate 1 usd=1460 iqd ) x 1460=14,600 iqd. on the other hand, if the iraqi citizens demand the rate to 1:1, that means 1 bag of imported rice costs=10 usd/bag x 1 ( 1 usd=1 iqd )=10 iqd only. so when the rate 1:1, the cost of 1 bag of imported rice is much much much cheaper right folks. and it goes for the rest of other imported goods. again, let's say, if iraqi citizens demand the higher rate to 1 iqd : 3.22 usd then 1 usd= 0.31 iqd , that means 1 bag of imported rice cost=10 usd/bag x 0.31 iqd ( 1 usd =0.31 iqd )=3.1 iqd wouw this is even more cheaper when the rate 1:1. the point is the highest the exchange rate , the cheapest the price of imported goods. for example, if you are the ordinary iraqi citizens, what rate would you demand to return to? 1:1200 or 1:1 or 1:3.22?

They forgot already feeling to be rich

[The Council of Ministers is studying the consequences of changing the currency exchange rate]

Yeah..kill your citizen 1st..then wondering what is happening

[To the executive branch to the central bank of Iraq]

15 hours ago, Theseus said:

Your reading comprehension needs work. 

 

His first sentence clearly states that he wants the exchange rate to be 1:1 or on par with the USD. His second statement is referring to the deletion of the zeroes in which he gives three examples of what removing the zeroes. In the same breath he continues the examples with 1000 dinars equals 1000 USD. That is a removal of the zeroes with an exchange rate of 1:1. If it were a LOP and they just removed the zeros then the exchange rate would not be 1:1. Again you need to read the words and not just point out what you think they say. The guy is talking about how the dinars should be on par with the USD as an exchange rate, remove three zeroes and then work up to the dinar equaling 3 USD. 

 

The premise of the article is that the author believes that the dinar's exchange rate should move more towards the dollar and eventually work towards equaling 3 USD. All the while removing three zeroes. This is called a revaluation not a LOP when the exchange rate is involved. A LOP is just the removal of zeroes without changing the current exchange rate. Again reading comprehension.

 

Now it is quite possible they do delete the three zeroes without changing the exchange rate and at a later date increase the exchange rate to a 1:1. If they do that I am confident a great many people would become emotional, beech and moan until there is no end. A good deal would get out of the game and only a few would remain. This could eventually play out to reduce the number of dinars outside of Iraq. 

Tq @Theseus for your great explaination..

what i mean was the original article in arabic..

from what i understand..

He wrote how they can achieve 1:1

 

Delete 3 zero as

1000iqd to 1iqd..

1 000 000 to 1000.

then after that 1iqd equal to 1usd..

 

Imo..if they really want this kind of transformation..

it should be done long ago since lop for me doesn't need delete 3 zero and economic growth

wasting  ah if 

1 usd = 1new iqd = 1000 old iqd

 

Sound like just as cosmetic.. not increase purchasing power

 

 

 

 

[To the executive branch to the central bank of Iraq]

12 minutes ago, stanleypower said:

Lop??? I think he pretty clearly lays out adding value with a direct 1:1. 

Lop since he mentioned 1000 to 1..1000000 to 1000.. misinterpreted by translation

[A decrease in sales .. The Central Bank of Iraq sells only 3 million and 225 thousand dollars]

Can someone share idea why auction drop till this level?

[Legal corruption]

lor..politician job scope..am i right?

[The price of the dollar is still high]

My question..if iraq really want to devalue..why go to the imf to discuss new rate ..just let the market do it for them..

[Iraqi Trade determined two thousand dinars to fulfill the fuel card]

Imo..this news refer to petrol cad fee..not the amount in the card

[Iraqi PM arrives in London on last leg of European tour]

3 minutes ago, yota691 said:

The Governor of the Central Bank and the British counterpart are discussing opening branches of foreign banks in Iraq

•  Time: 10/21/2020 19:39:33
•  
•  Read: 1,612 times

  

(Baghdad: Al Furat News) The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mechif, met today, Wednesday, with the Governor of the Bank of England.

A statement by the Iraqi Bank Media, a copy of which was received by the Al Furat News Agency, stated that "the meeting dealt with ways to develop banking relations and increase the volume of investment transactions between the two countries as well as the importance of cooperation in the field of {combating money laundering and terrorist financing} and overcoming obstacles that stand in the way of opening branches for banks. A foreigner working in Iraq. "
The statement added, "In the framework of his visit to the United Kingdom, the governor also met with the two international auditing companies Ernst & Young and PWC, where he discussed with them enhancing the volume of work with the Central Bank of Iraq because of these companies' experience and reliability, stressing his keenness to maintain the relationship with them during the coming period."
The governor of the Central Bank concluded his meetings with the Secretary General of the European Bank for Reconstruction and Development (EBRD). The meeting included discussing the final requirements for Iraq's accession to the European Bank, as well as their desire to deal with Iraqi private companies and banks.

if im not mistaken shab is board of monetary policy BOE

[Iraq signs 3 notes with France ... including the construction of the Baghdad Sky Train]

Hm..shab at BOE right? Why don't Iraq use his expertise

[Parliamentary Finance excludes raising the price of the dollar against the dinar to compensate for the decline in oil revenues]

Goi and cbi in allign no devalue..so wait no more.. unleash your true rate iraq

[The Ministry of Finance: completes the reform paper and finalizes the budget (2021-2023).]

I think it almost a year they talked about currency auction.. but no action.. 

[Talabani: There is no alternative for Kurdistan but an agreement with Baghdad]

No Action..Talk Only

[Central Bank and Finance discuss the repercussions of the financial crisis]

5 minutes ago, screwball said:

need rate change, zeros removed and free market economy....fact

haha..the fact actually they are slow and lazy...almost end of year..still discuss?

[100 US dollars is equivalent to 100 Iraqi dinars .. Is it possible? An economic expert answers.]

If this is what cbi want to do.. honestly i think long ago cbi should do that..because anytime cbi can lop..it just cost cbi print new cureency..no need economy strength

This kind of situation normally use to be in country wity high inflation right?

Iraq is a low inflation country

And if we read imf report..iqd appreciate around 5% annually..

[100 US dollars is equivalent to 100 Iraqi dinars .. Is it possible? An economic expert answers.]

Sounds lop to me

[Planning: the increase in the poverty rate in Iraq to 31.7% after the Corona pandemic]

Rich country but poorly manage by politicians

[Parliamentary finance identifies a reason why coins should not be minted and advises such a move]

From 1996 - 2003

 

Increased from 3000 to 1200

 

So imagine from 2003 - 2019?

 

Easily 1:1