The return of the dollar exchange rate to 120 during the day

[audigger]

The central bank said that the exchange rate of the dinar against the dollar will return to normal by about the former "120-121" in a few days, criticizing the lack of government control over the attack, which targeted the regional Iraqi market. Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said that "the Bank is dominated by heavily on problem of the high exchange rate of the dinar, which is temporary and caused by the attack on the Iraqi market of some regional countries surrounding the result of circumstances, as well as trade openness-free controls sober. "Saleh added that" the exchange rate of the dinar against the dollar will return gradually to the previous position of "120-121 "After studying the problem of the bank to increase and develop solutions based on Iraq's economy strong and the high financial potential, which is the best thing is now."

[billiebobt]

Link please if you would be so kind:)

[yota691]

I think it talking about the mark up on the Day Traders side of the deal, Not the Banks!! The folks bringing it to the Bank are charging the 120:1, and the CBI is trying to regulate it!! Permits, License, Camera's installed, security!! CBI receive only 13:1, i believe. JMO

Edited May 19, 2012 by yota691

[Soup]

Link please if you would be so kind:)

http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&twu=1&u=http://uragency.net/2012-03-11-16-31-52/2012-03-11-16-33-57/2903-120.html&usg=ALkJrhjiQd4q5LiajCYgV6ZYORhjso8bGA

[pluMmet]

That makes sense. Recently they have been charging like 1280:1 - 1300:1 if I'm not mistaken. So taking it back down to 1166:1 could be what they are referring to right? That would equal roughly 120 extra Dinars per dollar...

The "official" rate of 1164 + 120= 1284 but the rate has gone as far as 1300.... roughly incorrect if it's that. Of course 120:1 has never been a norm to go back to either...?>

[Luigi1]

I have enough IQD to set me up at 10x RV. I'll take it, cash in half of it & wait till it goes into a managed float over the following two years.

I'm not greedy. Good enough. Where else are investments going to pay a 10x return in such a short time?