Central Bank to raise the price of paced two-step Iraqi dinar

[carlablum]

Al: Central Bank to raise the price of paced two-step Iraqi dinar

2012-04-15

Baghdad/JD/...Member of the parliamentary Finance Committee take al Haitham Iraqi Central Bank steps to raise Iraqi dinar and balance with the US dollar.

He said al-Jabouri l/JD/that "the Central Bank has taken new steps are b first controls on foreign electronic money order value and select one arrival and any State would go," and secondly "that bank b 65 billion dollars capital".

And between Al-Juburi said that bank b 65 billion dollars very good capital is would preserve the Iraqi dinar exchange rate by increasing supply relative to demand in the local market. "

"The Iraqi market is fluctuating local currency and exchange rate appreciation for currencies must be careful in making decisions."

He was a member of the Finance Committee had expressed confidence in the stability of the purchasing power of the Iraqi currency in the coming days. ", stressing that these precautions have escalated.

The Iraqi Central Bank said in a statement, obtained by (JD) ": some press circles are many analyses deliberated failures, which indicated that the Iraqi Central Bank reserves offoreign currency has fallen in recent months with a few billion dollars.

The Central Bank said that these figures or other regular sales are the result of dollar to its customers from the Iraqis, through day-to-day operations of foreign currency auction in recent months or years, note that the Bank's foreign currency reserves have not declined but increased during the past period.

Referring to the direct intervention of neighbouring States in this auction are baseless and unfounded, although the current regional influences left spillover effects on foreign exchange movements in the local exchange market.

The Finance Committee in the Chamber of Deputies had warned of the seriousness of the continuing decline in the price of the US dollar, dinar, who arrived during the past few days to 1,300 dinars to the dollar for the first time in nearly four years. Conversely the Bank Advisor Mohammad Saleh appearance of serious depreciation of the Iraqi dinar against the dollar, and it gradually disappear price bubbles.

Recalls: that the Council of Ministers may form a Committee to study the Iraqi dinar price volatility in recent times, to provide appropriate solutions and the prevention of damage to the economy home/finished/11 n

http://207.46.192.23....ils.php?ID=363

[TQueezy]

So, the title makes you think you will be reading about some process the CBI is going to outline for increasing the dinar to equal the dollar in the next few months leading up to the original plan to redenominate in Sept '12, but instead, you only get the same restatement of facts about the price of the dinar against the dollar in the recent few months and auctions and how other arab states are affecting the value of the dinar, and blah, blah, blah.

Nothing whatsoever about a plan or two-step process like the title suggests for increasing the value and exchange rate of the dinar against the dollar. Rubbish. Thanks for bringing the article over though.

[mcuman]

So, the title makes you think you will be reading about some process the CBI is going to outline for increasing the dinar to equal the dollar in the next few months leading up to the original plan to redenominate in Sept '12, but instead, you only get the same restatement of facts about the price of the dinar against the dollar in the recent few months and auctions and how other arab states are affecting the value of the dinar, and blah, blah, blah.

Nothing whatsoever about a plan or two-step process like the title suggests for increasing the value and exchange rate of the dinar against the dollar. Rubbish. Thanks for bringing the article over though.

Here, here to that !!!!!