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Found 9 results

  1. Luigi asks... Was the Kaps right all along about a float? It looking more like a float rather than a RV/RI. A IMF Report suggests a float is in the air. Maybe it will come out a .10 cents & float from there. A RV/RI would be nice but I can deal with that. It's a start. Treat as a rumor. Not varafied. Your opine. 12-16-2019 Newshound Guru Kaperoni ...the IMF councils the CBI what to do. And they told them to float the currency. Never has there been talk of a RV or RI...Here is a direct quote from the IMF to the CBI from 2012 Article IV consultation..."staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy." That is a float people not a RV or RI! Here is the rest of that quote from the IMF..... "Such flexibility could allow a PREDICTABLE & GRADUAL APPRECIATION of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect,"
  2. Luigi says... The Kaps has been consistent all along. There is too much IQD in circulation to drop the three zeros. There simply is not enough money in the entire world to payout everyone. There will be no getting rich overnight but it will be a slow process via a float. This is one man's opinion. Nothing is set in stone. Treat as a rumor. Not varafied. Your opine. 8-27-2019 Newshound Guru Kaperoni The odds are very high that they're going to FLOAT as long as they continue to move forward developing a market economy, I also believe a LOP is unlikely BUT POSSIBLE. An RV or RI has zero possibility because monetary policy does not work that way. [Truth is nobody knows if it is going to be float or RV, but we do know it is not a lop,that would have happened long ago...can you imagine the investors having confidence if they lopped] I surely cannot say with absolute certainty, but I do know for a fact in 2012 TH PLAN WAS TO FLOAT the currency.
  3. Luigi says... Kaperoni, a staunch IQD floater has now changed his tune. It will be a RV, RI. Not verified. Your opine. 7 Feb 2018 Whitelions: OMG it must be getting close to the rv Kap is backing down on his float... Whitelions: 2-7-2018 Kaperoni Article: "Central banks needed five hours to submit their applications to buy foreign currency" [Here comes the RV at one to one.] There is no RV. Not to mention this article has nothing to do with implying such. This is an attempt to control the daily currency auctions and weed out corruption, but to me it is just another restriction which could have a negative effect on the spread. The CBI has a habit of implementing these types of controls rather than doing what it should be doing...arresting the crooks themselves. 7 Feb 2018 Kaperoni Moderator... Central Bank of Iraq (CBI) News > Central banks needed five hours to submit their applications to buy foreign currency. Since 02/05/2018 13:56 am (Baghdad time) Baghdad balances News. Needful Central Bank of Iraq, Monday, banks five hours to submit their applications to buy the currency. 2-7-2018 Intel Guru RayRen98 DINAR IS SCARCE, IRAQ HAS "REPORTEDLY" STOPPED DISTRIBUTIONS...TICK, TOCK...TICK, TOCK. THERE'S A LIGHT AT THE END OF THIS TUNNEL... IT APPEARS THAT DEALERS ARE SELLING "ON HAND" INVENTORY ONLY? KEEP AN EYE OPEN ON THE DEALERS AND ON FOREX...THINGS MIGHT UNFOLD RIGHT BEFORE YOUR VERY EYES. 2-7-2018 Newshound Guru Kaperoni Article: "Central banks needed five hours to submit their applications to buy foreign currency" [Here comes the RV at one to one.] There is no RV. Not to mention this article has nothing to do with implying such. This is an attempt to control the daily currency auctions and weed out corruption, but to me it is just another restriction which could have a negative effect on the spread. The CBI has a habit of implementing these types of controls rather than doing what it should be doing...arresting the crooks themselves. [...Kap no offense here but the CBI kills your theories when they say NO FLOAT.] ...the CBI did not say no float, just no float at this time. And this makes sense since there is no momentum through the Capital Account to create inflationary pressure and appreciate the currency.
  4. Frank26 & Delta are looking for a float by mid December then a full Rv in early Jan 2016. This is just their opinion. Treat it as a rumor. 11-17-2015 Intel Guru Frank26 ...within the 2 weeks of December we believe the economic reforms in Iraq will be in full speed in progress...we believe the movement from the RI to the RV will start sometime during that time frame...we believe there is a time frame when they jump from the RI to the RV. IMO...we think they may start at something like 40 cents...at the meeting on the 10th...they suggested 10 cents, 20 cents...but were told no...maybe they start at 40 cents...that period from the RI to RV we believe will take maybe 7 to 10 days and you may not even see this suggestion of 40 cents...because it is electronic and you won’t see it. In that time is when we believe the IQD will be moved into its natural rate position and then it will be free floated at a 2% monthly margin to increase it...that is up to you which to see how fast you can jack it up to its natural rate position...is that $3.22...
  5. 9-1-2015 Newshound Guru Kaperoni Raising the value gradually does chop the zeros off the exchange rate...just not overnight. There is no chance of the dinar ever appreciating to a 1 to $1 rate overnight (RV)...it's not mathematically possible with around 32 trillion dinar or more in circulation. Not to mention, the CBI has never mentioned one time about introducing an entire set of new bills (ie fils, 1, 5, 10, 20, 50, 100) at one time. In fact, all we have ever seen is the mention of a few notes and several years to complete. And most recently, it was stated that the 50, 100, and 200 would come out around the first of 2017. 9-1-2015 Newshound Guru Kaperoni So, IMO this is going to be gradual just as the IMF stated. It also confirms there is no LOP (which would be an entire replacement at the same time over a short period of time). You also would not need to reduce the note count first if your going to LOP, you simply introduce the new denominations. So, if they reduce the physical note count from 4 billion to around a 1.5 billion, they can substantial consolidate the physical Iraqi dinar. Though it does not reduce the money supply, it may make it much easier for them to transition to smaller denominations once the float begins (ie 50, 100, 200 early 2017). I guess we wait and see. Luigi says... Treat this as a rumor. This is just one Guru's opinion. Your opinion. Your thoughts on this article. Is this just more smoke & mirrors coming out of Iraq?
  6. 7-19-2015 Newshound Guru Kaperoni ... there is a reason the the dinar is being held low and pegged right now...Iraq has no market economy and to create one, creates alot of pressure on the financial system...especially one that has the potential as Iraq does...once the laws are passed and stability sets in, the pressure caused by the influx of investment and investors will be huge...keeping the dinar weak now, gives the CBI lots of room to grow to counter the pressure. Well, many experts do think the dinar is undervalued, some say "grossly". But like so many economists have said, the exchange rate is directly related to the productivity of a country...So we have to wait for that productivity and the dinar will rise! Lots of upside. 7-19-2015 Newshound Guru Millionday [WITH THE VALUE OF THE OIL AND THE OTHER COMMODITIES, HOW CAN THEY HAVE A LOW VALUE WHEN THE ENTIRE WORLD KNOWS THE VALUE AT CURRENT IS SIGNIFICANTLY UNDERVALUED, WOULD THE IMF ALLOW THAT TO HAPPEN?] I DONT SEE THE COUNTRY OPENING UP TO THE WORLD MARKET WITHOUT TARIFF AND CUSTOMS ACTIVATED --- I WOULD SAY IT IS HUGE TO CALCULATE THE DINAR FOR IRAQ TO COME OUT IN VALUE AND CONFIDENCE TO THE WORLD -- I WOULD THINK THAT MANY WOULD NOT ALLOW IT NOT TO BE DONE --- WTO--WORLD MARKETS--SHARE HOLDERS-IMF--WORLD BANK--THE ISLAMIC BUSINESS COUNCILS -- ETC ETC. Luigi asks... Is there a gradual IQD float in Iraq's future? Iran is ready to flood the global markets with cheap oil. Will Iran dash Iraq's hopes of an early RV/RI? Your views! Economist suggest Iraq must open then develope a market economy not based on oil alonebefore the RV/RI. If that is true...then the RV/RI could be a long ways off until the market economy takes hold. Just Luigi's view.
  7. from another source... 6-7-2015 Newshound Guru Kaperoni Article quote: "the new paper currency which is scheduled to put on the market next month will have an important role in reducing the demand for the dollar, and the high price of the Iraqi dinar to average." Makes sense since they are advertising the crap out of it. I have always said, why talk about something that is 6 months away? Also, [Guru] Enorrste stated...that these would come out sooner than later, with the float starting beginning of next year. We shall see...but this is encouraging since we know they plan to use this larger note to reduce the physical paper as a step prior to deletion of zeros. Luigi says.... Keep in mind this is only one Guru's opine. Nobody knows the date or rate or if it is to be a RV/RI/Float/LOP. Some Bills have to back to Parliament to be modified after Ramadan. Treat as a rumor. IMO. Here here to a RI today.
  8. from Intel Guru Enorrste... Guru Enorrste...There Will Never Be A RV/RI...A Gradual Float. Luigi says...Treat as A Rumor. This Is Only One Guru's Opine. 5-23-2015 Newshound Guru Enorrste ...the CBI NEVER intended to do an RV...we...know that the CBI would be foolish to even consider such an idea because it is financially impossible. The RV was never in the plan, ever. It was never in the cards at all! Therefore, to conclude, both the float and the introduction of the larger notes have always been in the plan. The introduction of the large notes will begin the process of bringing the street rate closer to the official rate (a good solution since the auctions are now off the table). The introduction of the large notes is imminent. It is also a part of the plan. Therefore the continuation of the plan is imminent as well. After the large notes are issued and the street rate begins to go back toward the official rate, AND, with the reduction in paper that the larger notes will effect, the completion of the plan, namely the change in the exchange rate regime, will be possible. ...I am still cautiously optimistic that this could all get accomplished (start the float) before the end of the year, with the caveat that the security situation is a wild card.
  9. from another source... Kaps believes that the IQD will come out at 1 to 1 then float higher over a two year period. At the end of two years the process to delete the zeros will be completed. 3-10-2015 Newshound Guru Kaperoni Article quote: "preparations for this process began, but will not end, and it will take some years to come long"..."the fact that the process will raise the exchange of currency and improve its value in the domestic and global market" [It still looks like we are a way off the RV.] there is no overnight RV. the float or unpegging of the dinar to the dollar will allow the dinar to rise gradually over time as investment flows into Iraq. As stated already by the CBI they expect this process to take at least 2 years or more to complete. This is not an overnight event. MistaMista I am seeing statements that an RV is impossible due to the current money supply of the Iraqi Dinar. The issue stated is that an RV would cause the dinar to be valued more than the value of current total money supply of all currencies global. I am reviewing figures at http://www.tradingec...money-supply-m0. You can also check the M1 and M2 figures there. Currently, "narrow money" or cash and coin IQD in circulation, or MO plus M1, equals 138698 IQD Billion (MO=66047 IQD Bill, M1=72651 IQD Bill). By comparison, USD MO = 3840341 USD Billion, M1 = 2824.10 USD Bill. THE AMOUNT OF CASH IN CIRCULATION WILL NOT CHANGE, ONLY ITS VALUE. If IQD reinstates at a rate relative to previous (3.22 dollar per dinar) plus 20% for inflation, or near $4 per dinar, then we have following figures - let's use $4 per dinar for ease of calcuation, therefore dinar moves from .00086 dinar per dollar to .25 dinar per dollar. In order for IQD to move to $4 per dinar, or .00086 to .25 dollar, .25 divided by .00086 = 290.7 times .00086 to get to .25. Iraq MO plus M1 138698 times 290.7 = 40,319508.6 billion dollars worth of dinar, or over $40 trillion USD. ~~~ Read More Mista Mista believes the IQD cannot support $4 & must come out at 1 to 1. If the IQD RVed at 4 USD to 1 IQD that would be 2 times all the currencies in all the countries in all the world. You do the math.
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