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Dinar News NO PLANS TO MAKE IQD 100 = $1 - CBI (released today March 03)


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I think this pretty much makes it clear that there is no big jump upwards in the value/exchange rate of our beloved dinar....in the immediate future.

As I, and others, have said for quite awhile there must be some semblence of security (for the oil fields and the citizens), political stability for the new regime (whoever that may be) and a marked increase in revenues (via oil production).

IF .... and its a big if ..... these things can be established, we'll see our investment pay off eventually. Hope no one is in the position to where they have to sell their dinar before they get to reap the true rewards of their investment.

Edited by CaptainJack
wording
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No plans to make ID1000 = $1 – CBI

March 3, 2010 - 05:01:06

BAGHDAD / Aswat al-Iraq: There are no plans to make the exchange rate of ID1,000 equal to $1, Central Bank of Iraq (CBI) said on Wednesday.

“Iraq’s currency policies are far from such decisions,” the CBI said in a release received by Aswat al-Iraq news agency.

The CBI said that the current exchange rate, ID1,170 = $1, is balanced, stable, and can be preserved through Iraq’s foreign currency reservoir of $43 billion.

MH (P)/SR

IMO this is a smoke screen article that is intended to mislead. The reason I say that is if you will notice the symbol above that is highlighted 'ID1000'... the true symbol for the Iraqi Dinar is IQD NOT ID! In their mixed up minds they feel they are not lying about the dinar value because they have not used the correct symbol. ... Just a thought. I could be wrong ... but then again, I could be right.

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I just want to tell any CBI employees or Iraqi politicians on thing...WE ARE NOT SELLING OUR DINAR NO MATTER HOW MUCH BS YOU PUT OUT THERE..Would you like to know why? Because the majority of us can afford to go out in the back yard of our expensive homes and set your paper money on fire and never miss a beat. We will still drive nice cars, live in nice homes and collect fat paychecks. Here is a message for you CBI...THE LONGER YOU WAIT, THE MORE EXPENSIVE IT WILL BE FOR YOU TO RV...I'm out

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After you restore the $ 10 billion from the funds of the former regime

CBI cooking equality dinar dollar value of the U.S.

2010/03/03 09:20 ص

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(Alwatan)

BAGHDAD - Mazen owner:

Financial sources familiar with the "home" for the restoration of the Iraqi Central Bank for more than $ 10 billion and deposits of the former regime seized in international banks, and there are efforts to restore the funds other than the value of contracts and deals signed under Saddam Hussein's regime was supplemented after the war for the invasion of Kuwait in 1990.

The financial sources familiar with "Al-Watan that" the United Iraqi Alliance bloc that nominated Bayan Jabr Zubaidi the next prime minister after the election, betting on the disclosure of such information described terms to augment the Iraqi National Coalition election, especially with the assurances of the Iraqi Central Bank study revalue Iraqi by deleting the 3 zeros from the nominal value of the current, and the U.S. dollar equivalent of one Iraqi dinar.

He said the appearance of Mohammed Salih, adviser to the central bank raising project yellowing of the currency promoted by the government in 2007, "Central Bank Itboukh on the backburner" and expected to see the end of 2010 or early 2011 on the development project. "

In the meantime, the central bank will continue the policy of stabilizing the exchange rate of the dinar against the dollar, "Al-Watan" that the central bank seeks to raise the value of the Iraqi dinar of 1180 dinars per U.S. dollar to 1000 dinars per U.S. dollars, within the month of June, and on the extent of conflict this policy with the policy of economic reform, followed by Iraq since 2003, under which the installation is a departure from the principles of capitalism Judge freely exchange rate liberalization, the central bank adviser said that "Iraq is in transition toward a market economy as it targets the central bank has worked to achieve the stability of the dinar exchange rate after The fluctuation is a concern for the citizen. "

In response to the indictment of the central responsibility of rising inflation, despite the policy followed by the installation, Saleh said that "the Central is not interested in lower prices in the marketplace but is responsible for the overall level of prices, and inflation declined in the country and income for the first time arranged to one decimal place, a 6% after was 60% even though there is no price in the world series back to back, but important that the price hikes under control. "

For its part, said an economic expert, Dr. Peace Smeisim for "home," said the leaked information from sources close to the Central Bank of Iraq can put things in different scales and different, and is considered central bank's ability to retrieve these funds from large international banks, each claimant to intervene in monetary policy, which it is exclusively the prerogative of the central bank, particularly because a lot of economic advisers in the Iraqi government demanded to borrow from Iraq's financial deposits at the central bank to cover the deficit in the general budget of the government, said Simasim must "stop such claims at a certain without encroachment on the powers of the monetary authorities. "

She stressed the importance of "keeping the rule of the dinar, above all, because the existence of such quantities of cash allows the authorities concerned to use this cash to address the liquidity shortage faced by the Iraqi budget and is the argument or excuse invoked by some in his allusions to demand the seizure of the existing stockpile of The Central Bank "

http://www.alwatan.com.kw/ArticleDetails.aspx?Id=11140

Here's GANKANS post of the same article from earlier today - along with a "useful" transliteration of the meaning of the article by an Egyptian friend who speaks Arabic. This is a link to the DinarVets post....

http://dinarvets.com/forums/showthread.php?12619-CBI-article-that-came-out-today-is-By-Gankans-3-3-2010

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04 March 2010

There are no plans to make the exchange rate of ID1,000 equal to $1, Central Bank of IraqCentral Bank of IraqLoading... (CBICBI

Central Bank of Iraq

CBI

Iraq | Financial Services

News | Profile | Officers

Edited by Mr. Phonics
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I agree tbush -- Either they are debunking it with the quickness or trying to stop a leaked statement that they didn't want leaked. Either way, they definitely made a quick move to change public opinion on this one, right?

FP

this seems quite reasonable and makes good sense...thanks
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If you look at the statement no plans part keep in mind we don't want to see 1000=1 and that is part of of the plan to raise the value to make it 1=1 if you know what i mean so that first part is true.

Second stating that the 1,170=1 is balanced, stable is also true that is what they have been striving for which is why they have to sell so much to keep it stable.

IMO I don't see this as negative simply true statements put together that give the impression of a stagnate currency. Once the currency is recognized they will have less control because it will float worst case but it will go up. Hope this helps don't fret to much over it, if you take it in context it conflicts with many other statements if you take it apart it makes more senses. IMO smoke screen...

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