Decision of the Economic Committee: Iraqi dinar will regain its natural and its price will reach to the (1166) to the dollar

[alan_coaks_3]

4 - 25 - 2012

Baghdad (news) .. Expect the Commission's decision in Parliament MP for economic / Kurdish coalition blocs / Mahma Khalil, the Iraqi dinar and restore normal during the next period, after the necessary measures taken by the monetary policy to fetch up to (1166) dinars to the dollar.

Khalil said (of the Agency news) on Wednesday: The monetary policy of Iraq and of the Central Bank has taken necessary measures for the return of Iraqi dinar to normal and stability at a certain price to the U.S. dollar, because the continued increase in the exchange rate of the dollar against the dinar will lead to problems of great economic, such as increasing prices in the local markets and rising inflation rates in the country.

The MP Khalil: We asked the central bank and the federal government to take the necessary measures needed to save the currency of Iraq from deteriorating in front of hard currency, Calcetrh on the process of currency smuggling to neighboring countries, or take scientific methods to sell foreign currency at an auction in the central, expressing optimism about the return of Iraqi dinar to put natural to settle on the price of (1166) dinars for one dollar.

This testifies the U.S. dollar has increased significantly and is preceded by its value against the Iraqi dinar, with an exchange rate of one U.S. dollar (1300) Iraqi dinars, after he was conservative on the price for a long time b (1170) dinars to one dollar, creating great fear of the economic circles constantly increase its price and its direct impact on the Iraqi economy.

My link

[Elixirbaby]

Questions is, what do they consider normal? My normal would be 1 to 1. Their normal might be 1164 to1 .

[Butifldrm]

yota brought this earlier, but it could be one of the measures the CBI is doing to control the rate.

Wednesday April 25, 2012

Central Bank: Sntkhaly for auction sale of hard currency for the benefit of a State-owned banks

Author: HM Editor: HL | SS Wednesday 25 نيسان 2012 11:28 GMT

Deputy Governor of the Bank of the appearance of Mohammed Saleh

Sumerian News / Baghdad

Central Bank of Iraq, Wednesday, that he would give up an auction sale of hard currency in the coming days for the benefit of a State-owned banks, while stressing the arrival of its reserves of hard currency to $ 63 billion, pointed out that sales daily over Iraq's need fifty times. The deputy governor of the Bank Mazhar Mohammad Saleh in an interview for "Alsumaria News", "Central Bank of Iraq would work during the coming period, in agreement with the Ministry of Finance and other government agencies to transform the auction sale of hard currency to one of the state banks sink Mesopotamia or good or banks in other business," asserting that "the central bank would be prepared to provide the bank will take it upon himself to make daily auction for the needs of hard currency." Salih stressed that "the central bank's reserves of hard currency rose to $ 63 billion after it was up to $ 60 billion the end of 2011, a capable of maintaining the stability of the Iraqi dinar, "noting that" the auction the central bank has financed the trade of neighboring countries, and the injection is done with and not to finance domestic trade, as the sales of Central Bank of Iraq every day than the need for Iraq fifty times. " Saleh pointed out that "Auction sale of currency is one of the particles does not fall within the jurisdiction of the Central Bank of Iraq," stressing that "the policy of the Bank focused on maintaining the exchange rate and the fight against money laundering and not to finance trade in other countries." The price of exchange of the dollar against the Iraqi dinar in the local markets to 1300 dinars per dollar after it was last week's 1250 dinars per dollar, and 1180 dinars per dollar over the past year 2011. Central Bank of Iraq, the sixth of January, a rise in foreign currency reserves to $ 60 billion, for the first time in the history of Iraq, after that marked the beginning of September of the year 2011, up precautions amounted to $ 58 billion after the $ 50 billion year-end 2010. The central bank held the Iraqi daily sessions for buying and selling foreign currencies with Iraqi banks, except for public holidays on which depends the World Bank for these auctions, and be sales, either in cash, or in the form of money orders sold out for a commission of certain.

http://www.alsumaria...s/-3-40449.html

Read more:

[new york kevin]

A exchange of 1164, 1170, 1180, 1250, (and so on) to 1 USD all suck for us who hope to gain something, if not a windfall, to retire on. That said the CBI is still showing 1166/1 . Is this the GOI blowing smoke up our skirts ? Is it mis-information via the GOI to get the less entrenched to get out of this investment, dump their dinar, and thus shrink the IQD supply on the world market? This would also stabilize the IQD and raise its value at a very low cost basis for the GOI. As long as the peg or rv is below the value of the neighboring countries the GOI can still count on a influx of investors into Iraq. How does the above info affect us and the future of ur investment? Please correct me, I have been wrong 9 times in my life.

[SocalDinar]

So since the increased value of the dollar to the dinar is causing inflation in Iraq.

Many say the if the dinar increases to the dollar it will cause inflation.

Which one is it?

[2fast4u2c]

Questions is, what do they consider normal? My normal would be 1 to 1. Their normal might be 1164 to1 .

They identify normal as 1166....the way I read it.

[jeepguy]

Hoping they are refering the 1160. As something they are trying too get away from.. if by normal hope they were going with the idea that 3.00 rate was normal before their currency was devalued

[SPRAYERDUDE]

Until these idiots take care of their Chapter VII issues, I'm afraid these rates are what we are going to see. There is absolutely no reason for a monetary change with the Artificial Program Rate still in place.

[tilak]

I think this is just another positive article. They can't say anything more than 1166/1164 because it would jeopardize security issues within the country. So they aren't going to say something like 1 to 1 or 1 to 3.33 or anything like that.

SO normal is ok. Normal at 1166/1164 isn't being achieved in country because the Iraqis have lost confidence in the Dinar and are using dollar. As other news articles have stated that street value of the Dinar is approximately 1300c.

Very soon the Iraqi dinar will go up in price. As anybody that has been in this investment more than a few years this is the most continuos positive news and the highest activity of news coming about the Dinar and the Kuwaiti relations. The Kuwaiti relations are KEY to Chp 7.

Edited April 25, 2012 by tilak

[Doctor Smith]

Taking off the Dinar goggles..... I see this as them saying, the measures they are taking will return the Dinar to its normal exchange rate of 1166. As of now the Dinar in Iraq only is lower than it should be do the the Iran Syria smuggling problems.

Edited April 25, 2012 by Doctor Smith