Popular Post yota691 Posted December 12, 2012 Popular Post Report Share Posted December 12, 2012 CBI authorizes the governor to raise the price of the Iraqi dinar against the U.S. dollar December 12, 2012 15:20 Last Update: 12 Dec 2012 15:20 Email to a friend Print Share Font Authorized the CBI governor raised the price of the Iraqi dinar against the U.S. dollar. , the bank said in a statement to news agency Kuwait "KUNA" that as part of the keenness and the pursuit of the Iraqi Central Bank in the development of his tools in the monetary policy and support the national economy stable market took the bank's board a number of decisions. And came within resolutions authorizing Iraqi Central Bank Governor validity reduce the sale price of the U.S. dollar and which is now 1179 dinars to the dollar in order to enhance the value of the Iraqi dinar and the requirements of the market. statement did not disclose the price proposed new dollars against the Iraqi dinar also did not specify a time limit for the implementation of the mechanism of raising the price of the Iraqi dinar . The decision a few weeks after withdrawal by Iraqi Central Bank Governor Sinan al-Shabibi and the prime BSA Abdul Basit Turki serve as the Governor of the Bank. mention that the price of the Iraqi dinar has stable since 2008 and so far the exchange rate ranged between 1170 to 1200 Iraqi dinars per dollar . (end) h e / G n Kuna 121,355 GMT Dis http://www.mubasher.info/portal/ISX/getDetailsStory.html?storyId=2211127&goToHomePageParam=true&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ar%2FISX%2Fnews+%28ISX+Arabic+News%29 38 1 Link to comment Share on other sites More sharing options...
Liljohn Posted December 12, 2012 Report Share Posted December 12, 2012 AWESOME! LET IT BE! Thanks for the post! GOD BLESS!!! LORD SEND THE RAIN!!! 5 1 Link to comment Share on other sites More sharing options...
Saint Posted December 12, 2012 Report Share Posted December 12, 2012 This is really good news let's hope they act on this one. We need for them to do it.Thanks Yota 3 Link to comment Share on other sites More sharing options...
truthful1 Posted December 12, 2012 Report Share Posted December 12, 2012 (edited) The dinars value at market has slipped again in the past two weeks. it was around 1190-1200 range, since then its back up around 1220. They are referring to the market rate when buying dollars. a little check onto the auctions pdf file, spells it out. also notice, the cbi gave the governor permission. so everyone should now see, shabibi or whoever is the governor, doesnt execute policy indepently. the board of the cbi controls policy Edited December 12, 2012 by truthful1 7 4 Link to comment Share on other sites More sharing options...
SocalDinar Posted December 12, 2012 Report Share Posted December 12, 2012 GM YOTA, I went to check how stable the IQD has been since 2008 at the PDF page at the CBI showing Auctions. I have seen these pages many many times. But today they changed page 31 to a photo copy. I dont think I ever bothered to keep a copy of this to see if anything has been changed. Seems strange to me. Anyone have the original page 31 downloaded? http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf Link to comment Share on other sites More sharing options...
jaman Posted December 12, 2012 Report Share Posted December 12, 2012 Good morning YOTA fist thanks for the hard work you have done this past year, please lord let this be. this will be a greatest Christmas present ever 2 Link to comment Share on other sites More sharing options...
welcome007 Posted December 12, 2012 Report Share Posted December 12, 2012 Yesturday they were talking abut letters of credit...i want to know whats going to happen with that..we know its bad news Link to comment Share on other sites More sharing options...
yota691 Posted December 12, 2012 Author Report Share Posted December 12, 2012 On the Arabic side of the CBI can anybody get this translated!! News and advertisements - 2012 Press Release on the decision of the Board of Directors of this Bank of many decisions in the framework of the keenness and the pursuit of the Central Bank of Iraq in the development of his tools in the monetary policy and support the national economy stable market 11/12/2012 http://www.cbi.iq/documents/press%20for%2011-12-2012.pdf The dinars value at market has slipped again in the past two weeks. it was around 1190-1200 range, since then its back up around 1220. They are referring to the market rate when buying dollars. a little check onto the auctions pdf file, spells it out. also notice, the cbi gave the governor permission. so everyone should now see, shabibi or whoever is the governor, doesnt execute policy indepently. the board of the cbi controls policy all the Currency auction that been posted for last couple weeks has had the pdf file include with the rates.. The CBI is an Independent Body, it has a Board that votes on decision by the CBI. It consist of a 5 member board, in case of a tie the Governor of the CBI make the Final decision.. This article plainly state's they intend on raising the value of the IQD.. Sorry you fell so negative about this investment, hope you not sold all your IQD.. 14 Link to comment Share on other sites More sharing options...
dontlop Posted December 12, 2012 Report Share Posted December 12, 2012 iraq is under a stand by arrangement with the imf . in this stand by arangement they are using a program rate for monitoring purposes...... the meeting is tommarro for its third review with the imf .... its a real cooincidence that they recieved permission to raise the value the same day they have a press release of imf meeting tommarro... and they specify the rate is undisclosed in this article 8 Link to comment Share on other sites More sharing options...
Butifldrm Posted December 12, 2012 Report Share Posted December 12, 2012 GM yota. Thanks for bringing the good news. Let's hope it's a substantial increase and not 4 pips at the expense of the CBI decreasing it's spread. 3 Link to comment Share on other sites More sharing options...
Popular Post easyrider Posted December 12, 2012 Popular Post Report Share Posted December 12, 2012 (edited) iraq is under a stand by arrangement with the imf . in this stand by arangement they are using a program rate for monitoring purposes...... the meeting is tommarro for its third review with the imf .... its a real cooincidence that they recieved permission to raise the value the same day they have a press release of imf meeting tommarro... and they specify the rate is undisclosed in this article You are correct also the agreement was an extension for 3 years well guess what? the 3 years is up Feb. 23 2013 they will NOT be getting another extension Iraq must stand on their own with their budget and their own money. Therefore the value must increase. I believe we will see the rate sometime in January. Edited December 12, 2012 by easyrider 20 Link to comment Share on other sites More sharing options...
truthful1 Posted December 12, 2012 Report Share Posted December 12, 2012 (edited) On the Arabic side of the CBI can anybody get this translated!! News and advertisements - 2012 Press Release on the decision of the Board of Directors of this Bank of many decisions in the framework of the keenness and the pursuit of the Central Bank of Iraq in the development of his tools in the monetary policy and support the national economy stable market 11/12/2012 http://www.cbi.iq/documents/press%20for%2011-12-2012.pdf all the Currency auction that been posted for last couple weeks has had the pdf file include with the rates.. The CBI is an Independent Body, it has a Board that votes on decision by the CBI. It consist of a 5 member board, in case of a tie the Governor of the CBI make the Final decision.. This article plainly state's they intend on raising the value of the IQD.. Sorry you fell so negative about this investment, hope you not sold all your IQD.. What do you mean negative about this investment?? I clearly, mentioned the auctions pdf file and the high price of the dollar, that the file shows. also oits a misconception that shabs or the governor pushes the rv button. i was showing the structure of the situation, given, the article says" cbi gives governor permission". Im stating whats been recorded as the currency auction and what the article says. im making no predictions, or stance......ive just stripped the facts from the pdf file based on the article. Ill leave it up to you, to forecast how everything will play out. Edited December 12, 2012 by truthful1 2 Link to comment Share on other sites More sharing options...
DinarThug Posted December 12, 2012 Report Share Posted December 12, 2012 PIP PIP HOORAY ! Thx For Da' Good News Yota ! 5 1 Link to comment Share on other sites More sharing options...
easyrider Posted December 12, 2012 Report Share Posted December 12, 2012 (edited) GM yota. Thanks for bringing the good news. Let's hope it's a substantial increase and not 4 pips at the expense of the CBI decreasing it's spread. shabbs did the 4 pips to delay!!! this is why he was accused of currency mainpulation. They have came out numerous times and are shooting for what it looks like a 1 to 1 which would more than ikely be .86 cents which if you convert it to U.S dollars it becomes 1 IQD= 1.17 USD Edited December 12, 2012 by easyrider 9 Link to comment Share on other sites More sharing options...
BKD Posted December 12, 2012 Report Share Posted December 12, 2012 Awesome Post, thanks Yota. 1 Link to comment Share on other sites More sharing options...
socaljeepnut Posted December 12, 2012 Report Share Posted December 12, 2012 Yoda, Thanks for your diligence on this site. You are truely the dinar nija. Now we must remember, they are not going to prep everyone as to when the RV will happen, it just will, so I'm not sure what to make of this article. Link to comment Share on other sites More sharing options...
truthful1 Posted December 12, 2012 Report Share Posted December 12, 2012 (edited) shabbs did the 4 pips to delay!!! this is why he was accused of currency mainpulation. They have came out numerous times and are shooting for what it looks like a 1 to 1 which would more than ikely be .86 cents which if you convert it to U.S dollars it becomes 1 IQD= 1.17 USD Huh?? Shabs did the 4 pips two delay? Wasnt it to increase the market rate, given he knew, he was adding restrictions to the currency auction, which would be lowering the total volume. shabs was accused on currency manipulation? Wasnt the charge, violations within the currency auctions. you really think, the. cbi told the governor to rv to a dollar, then the cbi and ministry of finance decided to call up the media and tip off everyone? More like, reassuring the iraqis that the price of the dollar will return soon, so dont get all po This has happened several times in the last year. everytime the pdf file shows the market rate above 1200-1210, we see these articles qboit the cbi to increase the vwlue of the dinar, or the high price of the dollar. we have seen this pony come to town before. sorry if bringing it up.....gets everone so aggrivated. Edited December 12, 2012 by truthful1 7 5 Link to comment Share on other sites More sharing options...
Popular Post easyrider Posted December 12, 2012 Popular Post Report Share Posted December 12, 2012 (edited) Huh?? Shabs did the 4 pips two delay? Wasnt it to increase the market rate, given he knew, he was adding restrictions to the currency auction, which would be lowering the total volume. shabs was accused on currency manipulation? Wasnt the charge, violations within the currency auctions. you really think, the. cbi told the governor to rv to a dollar, then the cbi and ministry of finance decided to call up the media and tip off everyone? More like, reassuring the iraqis that the price of the dollar will return soon, so dont get all po if they move another 4 pips what is that seriously gonna do for their budget and their people? absolutely nothing. They need to be at par with the dollar as for the 4 pip desperate move i call it by Shabbs it bought him time imho to try to weed out all the corruption associated with the CBI he wanted to do it right and his plan worked and the UN came and now we have 30k troops in baghdad lets see what ole Maliki wants to try now. So now they have the security as well to raise the value plus at the start of their fiscal year right as they can potentially get released from chapter 7 this year and go international with their currency and the ISX in 2013, Coincidence? i think NOT. Edited December 12, 2012 by easyrider 18 Link to comment Share on other sites More sharing options...
dillonsdinar Posted December 12, 2012 Report Share Posted December 12, 2012 Huh?? Shabs did the 4 pips two delay? Wasnt it to increase the market rate, given he knew, he was adding restrictions to the currency auction, which would be lowering the total volume. shabs was accused on currency manipulation? Wasnt the charge, violations within the currency auctions. you really think, the. cbi told the governor to rv to a dollar, then the cbi and ministry of finance decided to call up the media and tip off everyone? More like, reassuring the iraqis that the price of the dollar will return soon, so dont get all po I'm sure Easy heard you the first time around....must you say it 3 times? :Dsrc="http://dinarvets.com/forums/public/style_emoticons/default/biggrin.gif"> :peace:src="http://dinarvets.com/forums/public/style_emoticons/default/peace.gif"> 3 Link to comment Share on other sites More sharing options...
dontlop Posted December 12, 2012 Report Share Posted December 12, 2012 24. Staff supports the CBI’s policy of managing the exchange rate of the Iraqi dinar to keep inflation low. A stable exchange rate continues to provide a solid anchor for the public’s expectations in an otherwise highly uncertain environment. Over time, rising oil revenues could put upward pressure on the real exchange rate, which would warrant allowing greater exchange rate flexibility. Staff also welcomes the authorities’ continued commitment to safeguard the independence of the CBI, which is critical for maintaining confidence in the Iraqi dinar. page 14 ...on the imfs 2nd review .. http://www.imf.org/external/pubs/ft/scr/2011/cr1175.pdf 3 Link to comment Share on other sites More sharing options...
truthful1 Posted December 12, 2012 Report Share Posted December 12, 2012 I'm sure Easy heard you the first time around....must you say it 3 times? :Dsrc="http://dinarvets.com/forums/public/style_emoticons/default/biggrin.gif"> :peace:src="http://dinarvets.com/forums/public/style_emoticons/default/peace.gif"> That problem wa corrected. dang smart phone lagged and triple posted. chill if they move another 4 pips what is that seriously gonna do for their budget and their people? absolutely nothing. They need to be at par with the dollar as for the 4 pip desperate move i call it by Shabbs it bought him time imho to try to weed out all the corruption associated with the CBI he wanted to do it right and his plan worked and the UN came and now we have 30k troops in baghdad lets see what ole Maliki wants to try now. So now they have the security as well to raise the value plus at the start of their fiscal year right as they can potentially get released from chapter 7 this year and go international with their currency and the ISX in 2013, Coincidence? i think NOT. Well i dont know their intentions or how they will do what they need to do. im just saying, this pony show has come to town before, and threw us all off. i see a pattern with the market rate being high and then the release or these type of articles. 3 1 Link to comment Share on other sites More sharing options...
Darin Posted December 12, 2012 Report Share Posted December 12, 2012 24. Staff supports the CBI’s policy of managing the exchange rate of the Iraqi dinar to keep inflation low. A stable exchange rate continues to provide a solid anchor for the public’s expectations in an otherwise highly uncertain environment. Over time, rising oil revenues could put upward pressure on the real exchange rate, which would warrant allowing greater exchange rate flexibility. Staff also welcomes the authorities’ continued commitment to safeguard the independence of the CBI, which is critical for maintaining confidence in the Iraqi dinar. page 14 ...on the imfs 2nd review .. http://www.imf.org/external/pubs/ft/scr/2011/cr1175.pdf Interesting insert.... Its almost like the program rate is simply just to wait out instability & uncertainty while when the economy & country stabilizes things can change. Also, as oil revenues increase, it allows for flexibility of the exchange rate. So oil sales play a large role in hoping the value rises going from that insert. Link to comment Share on other sites More sharing options...
truthful1 Posted December 12, 2012 Report Share Posted December 12, 2012 (edited) Interesting insert.... Its almost like the program rate is simply just to wait out instability & uncertainty while when the economy & country stabilizes things can change. Also, as oil revenues increase, it allows for flexibility of the exchange rate. So oil sales play a large role in hoping the value rises going from that insert. Its quite understandable why there was a target rate projected by the cbi and the imf. by having stability it assures the imf, they will be repaid. so when you get lent money or need the imf's help, they do this to reassure they get their return. it in no way, guarantees its a bogus rate, or that the true rate is relatively different at all. as you can see, its all the cbi can do to keep the market from crashing. so the fact the market rate is in trouble, signifies the economics and the true rate are not that far off. they are using the typical m2/foreign reserves to determine the rate. the audited stats are comparable to the 1166. Edited December 12, 2012 by truthful1 1 Link to comment Share on other sites More sharing options...
snooz Posted December 12, 2012 Report Share Posted December 12, 2012 Sorry folks but I don't want to be a downer....We seen such article in the past Yep, there might be a raise in the value against the us dollar but if it's like in the past a few numbers up ?? from 1179 to 1225 ?? beside, do you realy believe a reval will be announce publicly ?? I'm not holding my breath on this one.....Sorry! TNX for the post yota :D 6 2 Link to comment Share on other sites More sharing options...
gp49 Posted December 12, 2012 Report Share Posted December 12, 2012 yota yota yota! you are the man! you have helped keep me and so many others grounded and sane. thank you thank you for all your hard work which is a blessing to us gp49 3 Link to comment Share on other sites More sharing options...
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