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Is this a LOP? This hot off the presses...


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From another source...

CBI Reveals Attempts To Make The 1000 Dinars Equivalent To One US Dollar.

May 24, 2012

(CNH) An official source at the Central Bank for the open windows of selling the dollar in the Rafidain and Rasheed played down the low exchange rate of the dinar against the dollar to four percent, compared to teams exchange rate two weeks ago, hoping to up the difference to two percent on the price the auction.

The Vice Governor of the Central Bank of the appearance of Mohammed Saleh said the two banks of government every citizen Sepeaan ten thousand dollars up to a maximum. , Pointing out that the sale price would be a thousand and one hundred and eighty-nine dinars to the dollar

And Saleh said the recent actions have had a positive impact of lower exchange rate of the dinar against the dollar.

According to Saleh, “the central bank is looking forward in the coming months, to be worth a thousand dinars, one dollar, indicating that the Bank is moving forward towards lifting the dinar exchange rate in proportion to the strength

Read more. See link below...

Will this be a hybrid RV & LOP combined or is CBI just aligning the IQD for an easy even 1 to 1 RV. Just more smoke & mirrors? Your comments.

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This is the 3rd or 4th time we have seen this article.........anyway those bringing them in can check previous posted news first?

Agree. WE often get conflicting reports out of Baghdad. One week it's a 1 to 1 RV. The next week, it's a LOP.

This could just be disinformation from CBI to discorage currency speculators.

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No this is not a LOP. Right now we have 1166 dinars equal to $1. What Saleh is saying the CBI will change its rate to 1000 dinars equal $1. My opinion is this is in response to all the articles talking about how weak the dinar is versus the dollar in Iraq. Articles have stated a street value of 1320 dinar per $. Many CBI related articles have statements that the CBI will strengthening the dinar versus the dollar in coming days. Again my opinion here is it is directly addressing the current weakness and not specifically talking about the RV. However, it is a move in the right direction for us and positions the old and new currency to have the exactly the 3 zero difference in value which I find very curious. I just wish he had said in coming days and not months.

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