CBI authorization to reduce the dollar exchange rate to enhance the value of the dinar

[supergirl]

Iraqi Central Bank coverage a number of private banks Bmzadeh public for the sale of foreign currency and increase the share financial auction granted to exchange companies and authorize bank governor validity reduced dollar against the Iraqi dinar.

According to a statement of the bank received Agency (news): Board of Directors took this bank many decisions to encourage banks Baghdad, credit and Mansour in the first phase and later include all licensed banks to open letters of credit and funded by the Central Bank of Iraq in accordance with the mechanism designed for this purpose, in addition to the continuation of these banks in the entry window sale of foreign currency.

http://www.annaharkw.com/Annahar/Article.aspx?id=371575&date=29012013

[Tuck]

This sounds good!!

Interesting would have been a better descriptive - I lose alot in the translations, so don't know if they're artificially reducing the dollar or floating the dinar.

[deniscanada]

This is the same article but slightly different translation

The Central Bank decided to include a number of private banks in Basra openly sell foreign currency, increasing the share of Basra offered to exchange companies and authorize the Governor authority to lower the price of the dollar against the Iraqi dinar.The Bank said in a statement received (News Agency): the World Bank's Board of Directors adopted several resolutions encouraging Iraqi banks and credit and Mansour as the first stage and later include all licensed banks open documentary credits, financed by the Central Bank of Iraq in accordance with the mechanism set up for this purpose in addition to the continuation of these banks in the entry window selling foreign currency.

Thanx supergirl

[JayLee202]

But when?

Thanks Supergirl

[R Veyron]

"first phase" ? I wonder what the final phase is....??? I don't see why they jost don't go ahead and make more affective changes and enact them.

[jeepguy]

they probably can`t change it that fast , we are having a time of figuring out what the message says, imagine what the iraqi folks come up with when they read this , hopefully the dinar will be above .01 thanks for pulling this one over

[SocalDinar]

Thanks Supergirl!

[pluMmet]

A good step...

[sandyf]

Iraqi Central Bank coverage a number of private banks Bmzadeh public for the sale of foreign currency and increase the share financial auction granted to exchange companies and authorize bank governor validity reduced dollar against the Iraqi dinar.

According to a statement of the bank received Agency (news): Board of Directors took this bank many decisions to encourage banks Baghdad, credit and Mansour in the first phase and later include all licensed banks to open letters of credit and funded by the Central Bank of Iraq in accordance with the mechanism designed for this purpose, in addition to the continuation of these banks in the entry window sale of foreign currency.

http://www.annaharkw.com/Annahar/Article.aspx?id=371575&date=29012013

This text appeared in an article several weeks ago.I pointed out that it could be read like this.

According to a statement of the bank received Agency (news): Board of Directors took this bank many decisions to encourage banks Baghdad, credit and Mansour in the first phase and later include all licensed banks to open letters of credit and funded in accordance with the mechanism designed for this purpose by the Central Bank of Iraq, in addition to the continuation of these banks in the entry window sale of foreign currency.

[dontlop]

continuation of these banks in the entry window sale of foreign currency... i got .. they are going to sell foriegn currency at the drive up window. the banks are getting drive thru banking ya hooooo !!! gimmee your money if they are buying foriegn currency .. they must be buying it with domestic currency ... so further dollarrization ? clearing the streets of dinars ?

Edited February 1, 2013 by dontlop