Central Bank: The teams we have reduced the dinar exchange rate to 4%, and we seek to raise the value of

[yota691]

Central Bank: The teams we have reduced the dinar exchange rate to 4%, and we seek to raise the value of

Author: HM Editor: HAH | GS Thursday 24 May 2012 10:15 GMT

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh

Sumerian News / Baghdad

Central Bank of Iraq, Thursday, the reduction of teams dinar exchange rate to 4% after it was 7%, while assuring that the process of raising its value in the Iraqi market and to make one dollar equal to 1000 dinars. Deputy Governor of the Central Bank of the appearance of Mohammed Saleh in an interview for "Alsumaria News" "The Bank was able to reduce the difference between the sale price of the dollar in the auction conducted by a day and between the price of the dollar in the market to 4% after it has reached more than 7% during the last period," asserting that the Bank "seeks to reduce the difference to 2%, which is the difference the natural in the world and accepted in the difference of price. " Saleh added that "the Bank is working to make the dollar worth 1000 dinars," adding that "seeks to raise the exchange rate of the dinar in the coming period and proportional to the strength of the economy especially that Iraq will lead the energy market in the world for years to come. " Saleh said that "the bank reserves and the government is a powerful force huge financial and therefore, these reserves and the strength of the dinar should be aligned with the positive developments in the Iraqi economy," adding that "what we are witnessing the rise in the price dollar in the Iraqi market is a bubble soon we will eliminate them Busaúlna including open ports dollar selling by the Rafidain and Rasheed. " The Central Bank of Iraq announced, in (21 May 2012) from direct Rafidain and Rasheed to sell the dollar for the citizens at 1189 dinars per dollar, He pointed out that the move was intended to benefit the Iraqi citizens directly from the exchange away from the monopoly exercised by the other. had already confirmed the central bank (April 25, 2012), it seeks the next few days to cancel the auction conducted by a day and convert it to a bank, government or commercial the other, stressing that the policy of the bank falls in maintaining the exchange rate and the fight against money laundering and not to finance the trade of other countries. revealed the CBI, in (January 6, 2012), a rise in foreign currency reserves to 60 billion dollars, for the first time in the history of Iraq, after having recorded the beginning of September of the year 2011, up precautions amounted to $ 58 billion after the $ 50 billion year-end 2010. The Central Bank of Iraq holds daily sessions for buying and selling foreign currencies with Iraqi banks, except for public holidays on which depends the Bank for these auctions, and sales are either cash, or in the form of money orders sold out for a commission of certain.

http://www.alsumarianews.com/ar/3/42007/news-details-.html

[yota691]

Do we need to call in the Myth Buster on the CBI reserve, all this payout of US Dollar's (they spent many billions) to bring in the IQD, and the CBI Reserve is still being quoted the same, some article state a little more, some article a little less reserve for the last 8 - 10 months!! JMO

[Butifldrm]

Do we need to call in the Myth Buster on the CBI reserve, all this payout of US Dollar's (they spent many billions) to bring in the IQD, and the CBI Reserve is still being quoted the same, some article state a little more, some article a little less reserve for the last 8 - 10 months!! JMO

Yes, as the mystery continues. Plus the CBI has enough reserves to cover the IQD at 120%. Makes me think we truly do not know the actual numbers.

[Royce]

Central Bank of Iraq, Thursday, the reduction of teams dinar exchange rate to 4% after it was 7%, while assuring that the process of raising its value in the Iraqi market and to make one dollar equal to 1000 dinars. Deputy Governor of the Central Bank of the appearance of Mohammed Saleh in an interview for "Alsumaria News" "The Bank was able to reduce the difference between the sale price of the dollar in the auction conducted by a day and between the price of the dollar in the market to 4% after it has reached more than 7% during the last period," asserting that the Bank "seeks to reduce the difference to 2%, which is the difference the natural in the world and accepted in the difference of price. " Saleh added that "the Bank is working to make the dollar worth 1000 dinars," adding that "seeks to raise the exchange rate of the dinar in the coming period and proportional to the strength of the economy especially that Iraq will lead the energy market in the world for years to come.

Read more: http://dinarvets.com/forums/index.php?app=forums&module=post&section=post&do=reply_post&f=5&t=118110#ixzz1vn2IIGxN

It's appears that it is going to be a very slow managed Float, Boys and Girls!!!!!!!!!!!

Last quarter they increased the value of the Dinar from 1170 to 1166. Some said this was a test. It appears that it was!

Now they said that they want to increase the value from 1166 (or from 1189 or 1289-what ever it is) to 1000 dinar per US dollar. This is a managed float. At this rate it will take 3 years to get to the 1 to 1 exchange rate. OR as they stated in a previous article we might have only 18 months from June 1st. So is this smoke and mirrors? Half truth and half lies? It could be Both or it could be the truth.

So! this could drag out for a long long time. I still hope for a major RV this month.

BUT! As Adam said! "Stick the Dinar back in the Sock drawer and wait for my email"! So we go back to work or play or what ever we do while we wait. We still have to live, and take care of our families.

[easyrider]

Central Bank of Iraq, Thursday, the reduction of teams dinar exchange rate to 4% after it was 7%, while assuring that the process of raising its value in the Iraqi market and to make one dollar equal to 1000 dinars. Deputy Governor of the Central Bank of the appearance of Mohammed Saleh in an interview for "Alsumaria News" "The Bank was able to reduce the difference between the sale price of the dollar in the auction conducted by a day and between the price of the dollar in the market to 4% after it has reached more than 7% during the last period," asserting that the Bank "seeks to reduce the difference to 2%, which is the difference the natural in the world and accepted in the difference of price. " Saleh added that "the Bank is working to make the dollar worth 1000 dinars," adding that "seeks to raise the exchange rate of the dinar in the coming period and proportional to the strength of the economy especially that Iraq will lead the energy market in the world for years to come.

Read more: http://dinarvets.com...0#ixzz1vn2IIGxN

It's appears that it is going to be a very slow managed Float, Boys and Girls!!!!!!!!!!!

Last quarter they increased the value of the Dinar from 1170 to 1166. Some said this was a test. It appears that it was!

Now they said that they want to increase the value from 1166 (or from 1189 or 1289-what ever it is) to 1000 dinar per US dollar. This is a managed float. At this rate it will take 3 years to get to the 1 to 1 exchange rate. OR as they stated in a previous article we might have only 18 months from June 1st. So is this smoke and mirrors? Half truth and half lies? It could be Both or it could be the truth.

So! this could drag out for a long long time. I still hope for a major RV this month.

BUT! As Adam said! "Stick the Dinar back in the Sock drawer and wait for my email"! So we go back to work or play or what ever we do while we wait. We still have to live, and take care of our families.

Im sorry no disrespect intended but to me that makes absolutely no sense after all this time they have said and pointed to be at PAR with the USD with the new currency is rolled out. How and why would that benefit the citizens for the lower denominations to come out when the value of the dinar is still lower then the USD makes no sense. Point being they need to come out at par with the USD prior or right before the lower denoms hit the streets of Iraq or they will run into some serious problems regarding black market deals, USD flooding the markets once again etc. IMHO. I believe this is major smoke and they are not gonna lay out there detailed plans to us.

Edited May 24, 2012 by easyrider

[klplatt81]

Unless they move it to 1000 iqd to 1 usd.....then, drop the 3 zeros....thus, 1:1. Time will tell.

[steveflex7]

Im sorry no disrespect intended but to me that makes absolutely no sense after all this time they have said and pointed to be at PAR with the USD with the new currency is rolled out. How and why would that benefit the citizens for the lower denominations to come out when the value of the dinar is still lower then the USD makes no sense. Point being they need to come out at par with the USD prior or right before the lower denoms hit the streets of Iraq or they will run into some serious problems regarding black market deals, USD flooding the markets once again etc. IMHO. I believe this is major smoke and they are not gonna lay out there detailed plans to us.

My thoughts exactly ! They are not going to issue lower denoms at a 1000:1 rate. That doesn't solve anything lol. More smoke. Our payday is coming, let's just be patient and watch it play out.

[yota691]

Unless they move it to 1000 iqd to 1 usd.....then, drop the 3 zeros....thus, 1:1. Time will tell.

Iraqi market and to make one dollar equal to 1000 dinars, that what I'm looking at when i see this!! Weird they spell out the one dollar instead of using a #!!

[drc85260]

Unless they move it to 1000 iqd to 1 usd.....then, drop the 3 zeros....thus, 1:1. Time will tell.

I am afraid that is what they are saying:(

raise the value to 1,000 then remove the zeros....the dinar will then be equal to the dollar.

Unfortunately, then this will be a revenue neutral event.

If 1 dinar equals $1 after the zeros are removed, then 1 Million dinar turns in to 1,000.

[Biker]

Ill have to agree with you 100% on this one EASY, this has been my thoughts from the beginning of there B/S sessions for 2 yrs now. But still its all talk and no action on there part. To many Chiefs and not enough Indians.

[magawatt]

Oh but think of the fun the goo-roos will have with the "March to 1000".

[powerpager]

Drop the 3, Drop the 3 !!!

[klplatt81]

I am afraid that is what they are saying:(

raise the value to 1,000 then remove the zeros....the dinar will then be equal to the dollar.

Unfortunately, then this will be a revenue neutral event.

If 1 dinar equals $1 after the zeros are removed, then 1 Million dinar turns in to 1,000.

I tend to think that they "could" move to 1000:1 and then drop the 3 zeros....but not as a "lop", rather as an RV. A revenue neutral event does not benefit the Iraqi's. However, an RV from 1000:1 to 1:1 does......and, it then allows for simple introduction of the new smaller denoms. It would also very easily de-dollarize Iraq. But it is all speculation at this point!!

[sandstorm]

I tend to think that they "could" move to 1000:1 and then drop the 3 zeros....but not as a "lop", rather as an RV. A revenue neutral event does not benefit the Iraqi's. However, an RV from 1000:1 to 1:1 does......and, it then allows for simple introduction of the new smaller denoms. It would also very easily de-dollarize Iraq. But it is all speculation at this point!!

Why wouldnt they just go to 1:1? What sense does it make to even go to 1000:1, just to move 1:1 a little later?

[klplatt81]

Why wouldnt they just go to 1:1? What sense does it make to even go to 1000:1, just to move 1:1 a little later?

At this point this is all speculation. Moving from 1166 to 1100 provides the CBI opportunity to test the banking/finance systems as they move the rate. If they moved it to 1000:1, then, removal of the 3 zeros makes a 1:1......that's an easy transition from USD to IQD for the Iraqi that may not be well-educated. It also makes for an easy transition by all vendors. Moving from 1000:1 to 1:1 makes great sense if.........they truly plan to RV....if, they truly plan to make the IQD on par with the USD.....if......too many ifs.....I'll just wait and see.

[Boozer]

Some good news or bad ??? http://wp.me/pZC7o-dH6

Edited May 24, 2012 by Boozer

[oneremedy]

Im not a fan of currency newshound. Thanks anyway!

[ijdk]

oneremedy, guess your not a fan of the news... LOL All the guy does is post the news. Just keep your head in the sand, i've heard its cool in there.

[leesburg]

hey ..they are telling everyone over the last couple days ..they are increasing the dinar value .. around 10% over the next few months ...

that will create demand .. if say kuwait gets wind of this .. or the us govt .. or any one .. they will scarf it up ....if the dinar is in demand its value will increase .. it could go even higher in price .. if a billionare bought a billion dollars worth ... they could make 100 million dollars over the coming months

i hope they actually do this .. and not just be farting in the wind again

just a statement form the central bank could spark a run on dinars

actually its about 17% increase

[Davesdeals]

I don't know if I missed something ,but was'nt it said,189 Dinar would be equal to a Dollar.Thats not so bad!!!!!

[caz1104]

oneremedy, guess your not a fan of the news... LOL All the guy does is post the news. Just keep your head in the sand, i've heard its cool in there.

News can be decieving or have a bias. Example-ABC,CBS,PBS,NBC,CNBC,CNN, & FOX. Just becaues its reported does not make it true.

[leesburg]

I don't know if I missed something ,but was'nt it said,189 Dinar would be equal to a Dollar.Thats not so bad!!!!!

i saw that also ... that is in the second translation of the same article ... if you look it says another translation ... but the first translation says 1 thousand 1 hundred eighty nine ..

which is close to the going rate ..

i think its a typo error in the second translation of this article

[unirod]

Im sorry no disrespect intended but to me that makes absolutely no sense after all this time they have said and pointed to be at PAR with the USD with the new currency is rolled out. How and why would that benefit the citizens for the lower denominations to come out when the value of the dinar is still lower then the USD makes no sense. Point being they need to come out at par with the USD prior or right before the lower denoms hit the streets of Iraq or they will run into some serious problems regarding black market deals, USD flooding the markets once again etc. IMHO. I believe this is major smoke and they are not gonna lay out there detailed plans to us.

Easy,

I agree with you. This is the same B/S , different day. This is not a managed float either but the numbers are all based on a dirty float!!, It's all fake and does not in any way reflect the real current value of the Dinar!! IMO

[unirod]

Same crap different day!!

[TXNOLE]

hey ..they are telling everyone over the last couple days ..they are increasing the dinar value .. around 10% over the next few months ...

that will create demand .. if say kuwait gets wind of this .. or the us govt .. or any one .. they will scarf it up ....if the dinar is in demand its value will increase .. it could go even higher in price .. if a billionare bought a billion dollars worth ... they could make 100 million dollars over the coming months

i hope they actually do this .. and not just be farting in the wind again

just a statement form the central bank could spark a run on dinars

actually its about 17% increase

they, they, they...........hey, hey, hey!