Central Bank of Iraq ~ Iraqi Central: we have tripled the Iraqi market needs hard currency ... 05/02/2012

[Papster]

Central Bank of Iraq ~ Iraqi Central: we have tripled the Iraqi market needs hard currency ...

05/02/2012

Iraqi Central: we have tripled the Iraqi market needs hard currency

Baghdad, the Iraqi Central Bank said Sunday, that what is available from hard currency exceeding three times the Iraqi market needs, pointing out that the Bank is exposed for the "rumors" information intended to destabilize the national economy.

Saw the dollar compared to the local currency surged during the past few days, which officials attributed to local banking companies stop Central Bank hard currency sales.

And local media have reported on the growing phenomenon of the sale of hard currency to Iranian businessmen at border crossings, particularly in Maysan governorate, is unless confirmed by the Central Bank of Iraq.

He said the Bank's Deputy Governor Mohammad appearance of Kurdistan (aknews) news, "We deeply economic force, the Iraqi dinar is currently semi hard currency, and available in hard currency from the Central Bank over the Iraqi market needs three times."

Mohammed said that "there is a public information campaign directed against the Iraqi economy, we don't know the source and motivation, but we are watching.".

The Bank's Vice President described what is traded in the media to stop the Bank to sell hard currency or smuggling currency out of the country "bubbles", stating that "the Central Bank of Iraq be interested primarily economic security."

The Iraqi Central Bank operates in accordance with law No. 56 of 2004, and holds five weekly sessions in daily public auction sale of foreign currency.

Main tasks of the Bank to maintain price stability, monetary policy implementation, including exchange rate policies, management of foreign currency reserves, the issuance of currency management, as well as regulation of the banking sector.

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.aknews.com%2Far%2Faknews%2F2%2F288254%2F

[simon8957]

Iraqi dinar is currently semi hard currency, and available in hard currency from the Central Bank over the Iraqi market needs three times."

Read more:

Am I understanding this correctly....they need 3 times the dinar to meet the needs of the economy??? ...if so WOW!!!

[Aqua Dude]

i think you guys missed the pain important part of this whoel article that attributes to our investment

"Saw the dollar compared to the local currency surged during the past few days, which officials attributed to local banking companies stop Central Bank hard currency sales."

remember they speak backwards of us.....so essitially they are talking about their currency(local currency)has surged during the oast few days compared to(against) the dollar because of the central bank stopping selling the dollars!!

I hope im reading this right!!!!!

anyone else seeing what im seeing!?

[dinar-racer]

Quick and easy.Just make the dinar 3 dollars to the dinar .Pow...problem solved

[wildthing]

i been reading rates of 9.67% what is that in value to a dinar . i had thought Iraq would want to be the same or close to the closer countries .

[redsand]

Or how about the fact that they know that there are rumors going on that there are lower amounts...then admit there is more.

[Carrello]

PR

[simon8957]

Thanks Auqu...I always forget the reading backwards thing....Hoping your correct..Cheers to ya...

[Stryker365]

i think you guys missed the pain important part of this whoel article that attributes to our investment

"Saw the dollar compared to the local currency surged during the past few days, which officials attributed to local banking companies stop Central Bank hard currency sales."

remember they speak backwards of us.....so essitially they are talking about their currency(local currency)has surged during the oast few days compared to(against) the dollar because of the central bank stopping selling the dollars!!

I hope im reading this right!!!!!

anyone else seeing what im seeing!?

I think you are reading this spot on 'Aqua Dude' .....and I think the CBI has gotten themselves into a pickle and now they are going to spin this to show they had no choice but to bring the value of the currency up........you see this way no one can get mad and say they screwed anyone....

Good read on this Aqua...JMO......everyone keep grounded we still are talking about...you know who and it still could fail a part

Oh..don't worry about the three times crap, that's fluff..I think...

Edited February 5, 2012 by Stryker365

[JWJW11]

I think you are reading this spot on 'Aqua Dude' .....and I think the CBI has gotten themselves into a pickle and now they are going to spin this to show they had no choice but to bring the value of the currency up........you see this way no one can get mad and say they screwed anyone....

Good read on this Aqua...JMO......everyone keep grounded we still are talking about...you know who and it still could fail a part

Very nice analysis Aquadude and Stryker! Reminds me of the article a few days ago when the CBI said they will keep the auctions going if necessary....looks like the CBI is ready and telling the GOI they can do whatever they need to do!

[caughtinthecrossfire]

PR

I'll just be happy when the Kurds get behind the dinar plan completely...someone give them that lil blue pill, please....they're saying it "is currently semi hard".

Is there a Dr in the house? Shabs?

[jetphyxr]

i think you guys missed the pain important part of this whoel article that attributes to our investment

"Saw the dollar compared to the local currency surged during the past few days, which officials attributed to local banking companies stop Central Bank hard currency sales."

remember they speak backwards of us.....so essitially they are talking about their currency(local currency)has surged during the oast few days compared to(against) the dollar because of the central bank stopping selling the dollars!!

I hope im reading this right!!!!!

anyone else seeing what im seeing!?

Aqua.. could not have said it better myself. Their intention is to confuse use us...espicially in these last final days! Why show your hand? Poker face! Perhaps they think we are not that bright. It is for the Iraqi people...than the investors !!!

[wildthing]

well they talk about how their currency surged during the past few days,. . now if 325000.00 dinars is 278.97 usd . when it surges in the thousandsths of a cent it needs to go a long ways .

when i was told about this money the guy that told me said well it goes up a penny you make money or even ten cents . lol the only thing is it needs to get out of the thousandths area . . though i had read some good things about monday .

i hope this money is finnaly gonna get a rate higher then 0.000860 . get up to 3.00 or higher . .. its kinda like having a lottery ticket your not aloud to cash in till someone says ok its your turn to be rich