Deputy warns of vibration dinar exchange rate and

[Butifldrm]

Deputy warns of vibration dinar exchange rate and financial transactions by the current crisis, the central bank

20.10.2012 | (Voice of Iraq) - Add a comment -Baghdad (news) warned MP for the coalition in Iraq Qais Cdhir, of potentially affected by the crisis the central bank current and recriminations regarding the sale of hard currency, the exchange rate of the Iraqi dinar against the U.S. dollar, and the financial dealings of State through distrust global banks in dealing with Iraq. said Cdhir (of the Agency news) on Saturday: supposed to be there extremely cautious in dealing with the Central Bank by the committees formed to monitor the work and scrutinize all claims regarding breaches sale of hard currency in the auction because it is major financial institution reflects the credibility and transparency of the financial system in the country before international banks and international financial institutions. added: that the financial institution depends on the degree of credibility and reliability of the body that deals with In case of lack of confidence to those who hold to manage the Central Bank, it will reflect badly on the financial system in the country, which will affect foreign dealings with international banks. noted to: that the continuation of the current crisis, the central bank and the exchange of accusations between his administration may lead to the delay in the work of the Central Bank auction and therefore will affect the exchange rate of the dinar against the hard currencies, calling for an end to the crisis as soon as possible to maintain the fiscal policy in the country

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Edited October 20, 2012 by Markinsa
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[SocalDinar]

GM Butifldrm,

Which will affect foreign dealings with international banks. And this means what? Don't these foreign banks get remittances in USD?

Thanks . Enjoy your weekend!

[Dalite]

GM Butifldrm,

Which will affect foreign dealings with international banks. And this means what? Don't these foreign banks get remittances in USD?

Thanks . Enjoy your weekend!

The actions affect outside confidence, push the country more towards the dollar, and further erodes the exchange rate.

But, if they didn't have the forethought to anticipate this, they certainly won't realize the Dinar augering in until it is late in the game.

Also, the apparent moves to nationalize the CBI will dampen the spirits of the international community who were considering investing.

For the government to take over the CBI tells the rest of the world that dealing with Iraq could be a costly learning experience, with the GOI deciding which contracts/ promises to honor, based on the PM's mood swings.

[Carrello]

I think it is a shot across the bow warning Maliki of the consequences for his fool hearted folly, which may have been actually sent from another entity. The next shot might not be across the bow but have a more direct trajectory.

Edited October 20, 2012 by Carrello

[TheArtistFormallyKnownAs]

I think it is a shot across the bow warning Maliki of the consequences for his fool hearted folly, which may have been actually sent from another entity. The next shot might not be across the bow but have a more direct trajectory.

Hi Lady Carrello

8 )

"which may have been actually sent from another entity"

Can you expand on that, What entity could it be?

[abby01]

The actions affect outside confidence, push the country more towards the dollar, and further erodes the exchange rate.

But, if they didn't have the forethought to anticipate this, they certainly won't realize the Dinar augering in until it is late in the game.

Also, the apparent moves to nationalize the CBI will dampen the spirits of the international community who were considering investing.

For the government to take over the CBI tells the rest of the world that dealing with Iraq could be a costly learning experience, with the GOI deciding which contracts/ promises to honor, based on the PM's mood swings.

Like Exxon: It does not sound like they are having a great time with Maliki. http://www.foxbusiness.com/markets/2012/10/18/exxon-seeks-to-quit-iraq-wqurna-oilfield-project/

Sounds like Maliki is a pain!