Parliament calls for the central bank to raise the price of the dinar against the dollar

[R Veyron]

Me love this article ,Long Time.

[Griffster]

yeah, what megatron said, 166:1 is the new rate he seems to be asking for. I wrote 66:1 but still it would be a better outcome than loosing 000 off our notes, so I like the way talks are sliding toward. MAKE US SOME MONEY TODAY!

Go RV!!!

Edited January 28, 2012 by Griffster

[despain]

Well, this sounds like a starting point. Nice to see someone spouting off about something else besides the freaking budget or security ministers. Perhaps it is crunch time. Then again, I think it is more B.S. time. JMHO... Just do it, Iraq. Dang, you've talked it into the ground. Shabs...pull that freaking trigger.

[Carrello]

The amount the dinar has moved is diddly squat. Its not enough to get drunk on if you changed 1.000.000 dinar and took the profit out on the town. I myself am not exited about the movement so far....it will not change lifes as we know it.

The percentage the dinar moved is not the point, Mr. Greenspan.

[40oz]

Alot of people might cash in if they do this. Adam called this one a LOOOONG time ago. We will want to wait for the perfect time to cash out if this happens.

[Sanssouci]

The percentage the dinar moved is not the point, Mr. Greenspan.

Mr. Greenspan...

[lotsofdinar]

I think the CBI is going to do what it wants. All the grousing by various politicians sounds like they are just playing to their political base.

[Shick]

I sure will be glad when we get to read that they actually did something instead of they intend to do something.

you said a mouthful my friend, this is what we've been faced with for the longest; going to do, need to do, like to do, talk about doing, but never doing.

[lomeygoat]

The percentage the dinar moved is not the point, Mr. Greenspan.

So what is the point then Ms. Greenspan?

I may be mistaken but one thinks that we are waiting for a big movement so we can become well off, and dont have to get up at 5.00am for work anymore. Or am I missing the reason we invested in the Dinar?

Edited January 28, 2012 by lomeygoat

[Stryker365]

you said a mouthful my friend, this is what we've been faced with for the longest; going to do, need to do, like to do, talk about doing, but never doing.

Hell, they keep voting on the sports doping law and can't even seem to get that one thru......

[keepmwlknfny]

So what is the point then Ms. Greenspan?

I may be mistaken but one thinks that we are waiting for a big movement so we can become well off, and dont have to get up at 5.00am for work anymore. Or am I missing the reason we invested in the Dinar?

Well I dont think we will see a BIG movement....realistically this is what we should expect...small gradual movements....the biggest deal is not how much it moved, but rather that it moved period since it has been a locked rate the past 3 years and they are talking about raising it even more.....

[hame55]

Parliament calls for the central bank to raise the price of the dinar against the dollar

On: Sat 1/28/2012 8:30

BAGHDAD / agencies

The member of parliament Abdul-Hussein Abtan the central bank to work on raising the price of the dinar against the dollar and to improve the living conditions of the individual.

. Abtan said, according to the Agency (news): the central bank to do a study to raise the rate of the dinar against the dollar and foreign currency in excess of (60) billion dollars.

وا الدول. He Abtan: that the dinar at a standstill for four years since he was a cash reserve (20) billion dollars by the need to raise the price of up to (1000) dinars against the dollar over the economic recovery and the reality of living of the individual and restore its distinguished position among nations.

This is noteworthy that the central bank stressed that raising the value of the dinar by 3.4%, which may seem at first glance a low rate, although it is in fact a monetary value large part of the financial settlement large inter-bank "that this lifting" sends a strong message confirms the strength and stability of national currency and the promising future of the Iraqi economy "and dispel all fears of the possibility of a deterioration of the latter

hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=ar&tl=en&u=http://almadapaper.net/news.php%3Faction%3Dview%26id%3D58541&usg=ALkJrhiK7IjRavJGnIgSrKjsoxOwtRv8lg'>http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=ar&tl=en&u=http://almadapaper.net/news.php%3Faction%3Dview%26id%3D58541&usg=ALkJrhiK7IjRavJGnIgSrKjsoxOwtRv8lg

NOTE the QUOTE: " 'that this lifting' sends a strong message...."

"Lifting"is the operative word here. Of course we have seen countless articles on the "lifting" of the zeros. But Here the same term is used in a different context - lifting the rate - if the translations are Google, perhaps it is a clue behind the smoke and mirrors that they mean lifting the rate...

[JayLee202]

Well I dont think we will see a BIG movement....realistically this is what we should expect...small gradual movements....the biggest deal is not how much it moved, but rather that it moved period since it has been a locked rate the past 3 years and they are talking about raising it even more.....

Good Point, I agree. I know many are very excited and want to see a huge jump but that's not what investing is all about. It would be a gradual increase.

Edited January 28, 2012 by JayLee202

[Griffster]

If "Lifting" means raising the value, they need to be "lifting" some zeros in our accounts soon. I don't think Iraq as a country can be taken seriously for much longer. I do find it pretty funny that the currency auctions are getting so huge and yet the CBI has not done much to solve it... makes me wonder if they are indeed using "constriction economics" to remove IQD from the streets. Some folks have been here for nearly a decade, so I'm sure I can wait a few more months and see how it plays out. Can't help but feel that childish "I want it NOW" attitude though.

[Carrello]

Well I dont think we will see a BIG movement....realistically this is what we should expect...small gradual movements....the biggest deal is not how much it moved, but rather that it moved period since it has been a locked rate the past 3 years and they are talking about raising it even more.....

Thank you.

[desimo]

I still say they sound like a dang church board. It has been how many years and they are talking about doing a 'study' on raising the dinar. They do a study so they can submit to a committee for a review of the possible findings...... JUST DO IT YOU NIMRODS!!!

[ssmith]

Well I dont think we will see a BIG movement....realistically this is what we should expect...small gradual movements....the biggest deal is not how much it moved, but rather that it moved period since it has been a locked rate the past 3 years and they are talking about raising it even more.....

I agree, good to see you so positive; any movement is great :D

[lomeygoat]

I still say they sound like a dang church board. It has been how many years and they are talking about doing a 'study' on raising the dinar. They do a study so they can submit to a committee for a review of the possible findings...... JUST DO IT YOU NIMRODS!!!

Well said, that tiny raise will do no one any good... Why is everyone getting exited about a couple of points? Maybe some people on here for other reasons, but I can contest most of us are on here to see the Dinar pop so we can make a few bucks.

I dont care how many camels they kiss or how much sand they kick, I just want too see the cash, and your a damb lier if you say differnt, why buy into the dinar, if not to make money......R.V. JUST DO IT ALREADY

[abutchbaker]

Let's get er done..............

[vietnam1969]

Good post. Keep up the good work and uncover some more info under those rocks.

[RicknSaudi]

actually it moved, .34% if it had move .034% it would be at 1169.60...At .34% it would be at the CBI rate of 1166.02... At 3.4% it would be at 1130.22

Thanks Snatcher for clearing this up. I've read so much at so many places lately (even from news sources inside Iraq itself) that indicates this change amounted to a 3.4% rise against the dollar. It's simple math really, but how many times can one keep correcting people before you just have to sit back and laugh.

[Snatcher]

Thanks Snatcher for clearing this up. I've read so much at so many places lately (even from news sources inside Iraq itself) that indicates this change amounted to a 3.4% rise against the dollar. It's simple math really, but how many times can one keep correcting people before you just have to sit back and laugh.

I always cheat..and Just use a calculator..1170 minus 3.4,.34,.034...Forget all the multiplying and dividing it....

[Doctor Smith]

Thanks Snatcher for clearing this up. I've read so much at so many places lately (even from news sources inside Iraq itself) that indicates this change amounted to a 3.4% rise against the dollar. It's simple math really, but how many times can one keep correcting people before you just have to sit back and laugh.

I just emailed the CBI. Maybe we will get an answer to this BS. Once and for all.

[sportfisher]

the central bank to do a study to raise the rate of the dinar against the dollar (60) billion dollars.

if my math is right that would be about 1 IQD = 2.58 USD just sayin

[sportfisher]

if my math is right that would be about 1 IQD = 2.58 USD just sayin

or is it 1 USD = 2.58 IQD ? which would be .38 USD = 1 IQD and that gets me a new boat too.

increase the value of the dinar against the dollar $60 bil.

ignore their 3.4%, .34% whatever for a minute.

here's the numbers I used

$60 billion USD

@ 1165

the illusive 27 tril IQD in circulation (unless you have another figure I'll use that)

just a thought.