CBI authorizes the governor to raise the price of the Iraqi dinar against the U.S. dollar

[truthful1]

Sorry folks but I don't want to be a downer....We seen such article in the past :rolleyes:/>

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/> :D/>

Dont fret it. no one wants to be the downer. facts is, we all have real money on the line, and should be able to approach this like an adult

[dontlop]

under the program rate the cbi can maintain stability ..

example .. if you started selling the dinars for 1000 dinars per dollar ,, trying to artificially increase the value ... ..or try selling them for 1300 dinars per dollar trying to depreciate the dinar ...it can be controlled as long as the cbi continously sells the dinar daily at its auctions at the program rate ..1166...

if you sold them for 1000 per dollar and i could get 1166 per dollar from the banks .. why would i buy only 1000 for a dollar ..

and vise versa ..if you tried to sell your dinars for 1300 for a dollar .. and the cbi was selling them for 1166 .. you would have to lose money to be buying at 1166 and selling at 1300

this process has to be maintained for as long as it takes to stablize the dinar ..its been holding fairly close ... for a couple years now .. so they are accomplishing their goal ..

and as the goi stablizes its govt and revenues go up ..and gdp goes up they can move the rates .. i think they will be making another program exchange rate change soon ..how much i dont know .. it could hit their goal of 1000 .. to prepare for its zero deletion .. they would maintain that rate for the next year .. then do their deletion dance..

Edited December 12, 2012 by dontlop

[rockfl9]

Snooz:::: You may be right!!! When they say "raise the rate" it could mean moving to 1222 per dollar! Now they would get 5% more dinar for the oil and would cover the budget shortfall...The rate would go to .00082. that would release som reserves. Maliki would like that.

[snooz]

Snooz:::: You may be right!!! When they say "raise the rate" it could mean moving to 1222 per dollar! Now they would get 5% more dinar for the oil and would cover the budget shortfall...The rate would go to .00082. that would release som reserves. Maliki would like that.

Exactly, and the're been doing it for years !! :lol: Shabs got a warant agains him for doing it !! :lol:

[hame55]

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.

Easy, you may be right.

We have the intersection of many highways coming together now -

the HCL,

Chap 7 behind it,

Shabs out (a good thing)

Maliki moving it forward,

the CBI governor charged with changing the rate,

the US troops moving into Iraq again,

the third IMF extension about to expire on loans,

the latest round of talks with Kuwait went well.

Moon's visit,

the north-south pipeline up and running,

Sheeeesh! And it's Christmas!

[whatsthis]

All I will say is get ready something is coming

[zigmeister]

Thank you Yota for the awesome article. I have been here for awhile, and I understand where Truthful is coming from, we have seen this pony ride into town before. However it seems to me this time there might actually be a rider on that pony. What I mean is this, if it were a mere 4 pips increase in the dinar they wouldn't put an article such as this out imo. We have seen it increase 4 pips we just woke up one morning and there it was. No explanation, no introducing the 4 pip movement. For me this is more substantial article because it seems whatever they are deciding on everyone has to be on board, via the CBI governor was given to go ahead to raise the price of the dinar against the dollar.

I have a question for Yota, as he posts many articles daily, and he reads them, so Yota of all these articles similar to this one, do you think this article has more meat to it than all the others?

Now there are many different avenues I am sure to accomplish the raising of the dinar against the dollar. I am hoping this time is for real and is in our best interest.

[nemesis760]

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

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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

No timeline... dammit... Its like the car adverts showing a pinto flying and driving at 200mph, then the fine print comes up stating that this is not real...

[Lotusflower]

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

Things are heating up in the kitchen! Let's hope dinner is ready soon.

[George2351]

This is really good news. If they have put 30 K troops in Baghdad that tells you that something is up for sure. Isn't that what you said EasyRider?

[SnowGlobe7]

I also would like to hear what Yota thinks on this one.....helllo out there.............

[truthful1]

Thank you Yota for the awesome article. I have been here for awhile, and I understand where Truthful is coming from, we have seen this pony ride into town before. However it seems to me this time there might actually be a rider on that pony. What I mean is this, if it were a mere 4 pips increase in the dinar they wouldn't put an article such as this out imo. We have seen it increase 4 pips we just woke up one morning and there it was. No explanation, no introducing the 4 pip movement. For me this is more substantial article because it seems whatever they are deciding on everyone has to be on board, via the CBI governor was given to go ahead to raise the price of the dinar against the dollar.

I have a question for Yota, as he posts many articles daily, and he reads them, so Yota of all these articles similar to this one, do you think this article has more meat to it than all the others?

Now there are many different avenues I am sure to accomplish the raising of the dinar against the dollar. I am hoping this time is for real and is in our best interest.

its good to read your post again. I think we are in a good position, given the pressure on the high market rate. It makes them them have to do or think about action. So im optimistic. however I dont see any article including this one, pre-announcing a rv, if its an action of great magnitude.

Edited December 12, 2012 by truthful1

[zigmeister]

its good to read your post again. I think we are in a good position, given the pressure on the high market rate. It makes them them have to do or think about action. So im optimistic. however I dont see any article including this one, pre-announcing a rv, if its an action of great magnitude.

Good to see you truthful. You make a good point as far as magnitude. However there is an argument to be made in the one commodity CBI desperately needs is customers. How to get the bank accounts open? Well in this article they are not declaring an amount or when but they are educating the people soon their dinar will rise against the dollar. They also are issuing letters of credit, and debit cards. Now with all that being in play, the people may be considering perhaps the banks are the best place for their dinar. No mess no fuss, a card in a wallet and they are good to go. The dinar will seem of more value to them no matter how much it rises. It is an excellent way to pull the dinars in as well. Just a thought as why they may have given a heads up. It will be interesting to see.

[Zman6]

its good to read your post again. I think we are in a good position, given the pressure on the high market rate. It makes them them have to do or think about action. So im optimistic. however I dont see any article including this one, pre-announcing a rv, if its an action of great magnitude.

I appreciate and agree with your perspective on this truthful1.

It doesn't take a masters degree in economics to understand that a country is not going to pre-announce a RV, it's just common sense. So many want to interpet these articles as them telling us what we ALL want to hear but it doesn't work that way. It would be like a company announcing they have a cure for cancer and there stock price is going to skyrocket in the near future.

Can you imagine if Iraq actually was spelling out that there currency was about to RV at an unprecented rate? Every rich investor in the world would be buying dinars by the truck load.

[Nelson0528]

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

Hey Easy... you got your monetary units switched in your post. Should be $1 USD = $1.17 IQD with an exchange rate of 0.86 to the Dinar...

[zigmeister]

I appreciate and agree with your perspective on this truthful1.

It doesn't take a masters degree in economics to understand that a country is not going to pre-announce a RV, it's just common sense. So many want to interpet these articles as them telling us what we ALL want to hear but it doesn't work that way. It would be like a company announcing they have a cure for cancer and there stock price is going to skyrocket in the near future.

Can you imagine if Iraq actually was spelling out that there currency was about to RV at an unprecented rate? Every rich investor in the world would be buying dinars by the truck load.

:twocents:/>

However they have not announced a date or time, now have they? But what they are announcing they are going to lower the dollar to the dinar, they are telling the peeps, not to be concerned they are on it. Which tells me the Iraqi people are very concerned about their currency.

[VIZIOIRAQI]

Like I've been saying for 2 years now lol Happy New Year RV 2013 and now it is approaching us fast. 1 to 1 and off to the Bank lol

[bamagirl]

WOW!!! Yota, dontlop and Easy... you guys are just awesome! Thanks for posting Yota, so excited!!!

[cabinetman]

Question.....Why would this be put out for all to read? Not tring to be a downer, I want this just like we all do, but Im scratching my head trying to figure out these statements. Any thoughts out there? Reverse psychology?

(hope I spelled that right,lol) Are they pumping too?

Edited December 12, 2012 by cabinetman

[thylocene]

Many thanks Yota. Good article.

[tommy17]

Question.....Why would this be put out for all to read? Not tring to be a downer, I want this just like we all do, but Im scratching my head trying to figure out these statements. Any thoughts out there? Reverse psycology?

(hope I spelled that right,lol)

It was on iraq t.v "and I knew about this yesterday", it was talked about on another forum yesterday . Ask yourself why would they piss off their people and announce it on t.v ,and not do a darn thing. But it is iraq

[Osmosis]

The GOI doesnt give a shiite about their people.

[rockfl9]

The statement was to "raise the PRICE of the dinar against the dollar" To me that means if the dollar is getting 1220 dinar THEN raise the auction to 1220 per dollar!... And that would reduce the rate to .00081!

[pontiyak]

Thanks Yota. Very interesting article.

We can only hope....Mostly because we have no control.

The best things in life RV

yak

[snooz]

The statement was to "raise the PRICE of the dinar against the dollar" To me that means if the dollar is getting 1220 dinar THEN raise the auction to 1220 per dollar!... And that would reduce the rate to .00081!

How to raise the dinar against the dollard....Simple, Lower the price of the dollars !! What does that do? simple, people buy more dollars and reduce the amount on the market