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CBI asserts that the increase of the dollar against

Butifldrm

By Butifldrm,
in Iraq & Dinar Related News

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Butifldrm Apprentice

Butifldrm

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Central asserts that the increase of the dollar against the dinar controlled and reduced in the coming days

Follow-up - and babysit - Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said that the high price of the dollar against the dinar is dominated by the Bank and the coming days will witness a significant decline.

Saleh said that "the cause of the price rise of the dollar against the dinar goes back to the regional situation plaguing the neighboring countries, and these conditions Oirt and a negative impact on the currency market in Iraq by increasing the demand for the dollar."

He added that "the Bank noted in the last term increase in the purchase order dollar, forcing him to request data taxation of traders [Clearance tax], but traders Tlkoa to pay their taxes because of evading them, thus they have to withdraw foreign currency from the market, which led to decrease the amount found in the market after the increase in demand that has led to the increase of the price. "

And the favor of that "budget had a negative impact also on the Iraqi market because of its size, which led to financial increased demand for foreign currency."

He pointed out that "the smuggling of currency out of the country also have a role in the increase of the dollar in the Iraqi market," noting that "the smuggling operations have been active after the imposition of economic sanctions on some neighboring countries."

The dollar exchange rate in the local markets witnessed on Tuesday its highest level in front of the dinar in nearly four years, reaching U.S. dollar exchange rate per 1320 dinar, recording an increase of 90 dinars compared to last week, and 154 dinars, more than 13% of the price specified formally in the Central Bank, a 1166 dinars per dollar.

M. J

http://alrayy.com/47918.htm

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bostonangler Newbie

bostonangler

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CBI: The high price of the dollar against the dinar controlled and reduced in the coming days

Saturday, April 14 / April 2012 15:44

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said that the high price of the dollar against the dinar is dominated by the Bank and the coming days will witness a significant decline.Saleh said Iraq told every [where] the day, that “the cause of the price rise of the dollar against the dinar goes back to the regional situation plaguing the neighboring countries, and these conditions Oirt and a negative impact on the currency market in Iraq by increasing the demand for the dollar.”

He added that “the Bank noted in the last term increase in the purchase order dollar, forcing him to request data taxation of traders [Clearance tax], but traders Tlkoa to pay their taxes because of evading them, thus they have to withdraw foreign currency from the market, which led to decrease the amount found in the market after the increase in demand that has led to the increase of the price. “

And the favor of that “budget had a negative impact also on the Iraqi market because of its size, which led to financial increased demand for foreign currency.”

He pointed out that “the smuggling of currency out of the country also have a role in the increase of the dollar in the Iraqi market,” noting that “the smuggling operations have been active after the imposition of economic sanctions on some neighboring countries.”

The dollar exchange rate in the local markets witnessed on Tuesday its highest level in front of the dinar in nearly four years, reaching U.S. dollar exchange rate per 1320 dinar, recording an increase of 90 dinars compared to last week, and 154 dinars, more than 13% of the price specified formally in the Central Bank, a 1166 dinars per dollar.

http://bit.ly/IJ3pc1

B/A

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TQueezy Newbie

TQueezy

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wtf. just a couple of days ago they said that the rv is not a priority. now they say in the coming days again. so confused :unsure::blink: anyways, go rv. B)

I believe they said redenomination (RD) was not a priority a couple of days ago, which is what they refer to as the deleting/lifting/removing of the zeros from the local currency, or any variation of how that phrase is used.

This... is just referencing how the bank is going to be increasing the value of the IQD against the USD in the coming days to combat the low purchasing power and value of the IQD, since it's the bank's job to keep their currency strong, and currently they are not doing that...

Which is why the government is trying to sack Shabibi.

EDIT: Also of note is the use of the word "significant."

By Iraqi logic, if they use terms like "soon" so loosely and words like "next" to mean the present time frame, then who knows what they mean by "significant." It could either be extreme or mild, like 4 pips like the last "revaluation" a couple months back. If it's the extreme end, maybe 100 dinar or so? I'm hoping for it to go about 1200 dinar so that it only takes 1 dinar to equal 1 US dollar :P

Edited by TQueezy
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keepmwlknfny Newbie

keepmwlknfny

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wtf. just a couple of days ago they said that the rv is not a priority. now they say in the coming days again. so confused unsure.gifblink.gif anyways, go rv. cool.gif

Deleting the zeros is not the RV....people are confusing the two.....we dont want them to delete the zeros....

What they are talking about in this article is what we want....to close the gap between the dollar and the dinar....

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TQueezy Newbie

TQueezy

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Deleting the zeros is not the RV....people are confusing the two.....we dont want them to delete the zeros....

What they are talking about in this article is what we want....to close the gap between the dollar and the dinar....

Keep, I never thought I'd say this... but...

I wholeheartedly agree with you and I'm glad you're here to support those theories now with your knowledge and experience defending it.

Edited by TQueezy
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PD46 Newbie

PD46

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wtf. just a couple of days ago they said that the rv is not a priority. now they say in the coming days again. so confused :unsure::blink: anyways, go rv. B)

We are all confused at this point, not to mentioned frustrated and screaming !@#$. There's that phrase again...... "in the coming days". I would love to know the meaning of "coming days" to an Iraqi Arab. Those people do not know the meaning of haste in Western terms.

The Council of Ministers is the one that said the "deletion of zeros" was not the priority in the news article; not the CBI.

The CBI and Dr. Shabibi do not answer to the Council of Ministers or Malaki, and the Council of Ministers is nothing more than Malaki's hack job appointtees.

The CBI has a governing board (I believe it was bamagirl that posted the CBI By-laws in another post on this site several days back) and Shabibi answers to the governing board of the CBI and to Parliament only.

The last time I checked, the CBI was in charge of fiscal monetary policy and controlling/stimulating economic growth within Iraq; not Malaki and his hacks sitting on the Council of Ministers.

So, I certainly hope in the "coming days" the Dr. Shabibi and the CBI show us the Webster's dictionary definition in English of the meaning of the word haste!

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onerighthand Newbie

onerighthand

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They are very aware of us and they hate the fact that we are waiting to make money off of them, They are deliberately playing us with good news, then bad news, then weird news, then confusing news and then when they think we think it is about to happen, they disappoint us again, just to break our spirit. It is probably eating them alive with selfishness, In their mind, nobody deserves it but them.

We just have to wait them out. Just don't fret the details. They are not going to tell us.

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JERRY A Newbie

JERRY A

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They are very aware of us and they hate the fact that we are waiting to make money off of them, They are deliberately playing us with good news, then bad news, then weird news, then confusing news and then when they think we think it is about to happen, they disappoint us again, just to break our spirit. It is probably eating them alive with selfishness, In their mind, nobody deserves it but them.

We just have to wait them out. Just don't fret the details. They are not going to tell us.

you are exaclty right. they know exactly what is going on here. They have no interest at all in us benefiting from investing in their country. They are brutal business people. They love messing with us.

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