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New CBI Announcement 3/14/2013 Exchange Rates!!


yota691
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I have a question for everyone on here. I own 2 million dinar since 2006. I've been trying to get my parents on this ban wagon but there convinced it's a scam. Saying your not going to get what you deserve when you cash out. Is there any proof that what there saying is not true? I've been trying to research that forever.

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IVE SEEN MORE THAN ONE TRANSLATION OF THE SAME  CBI ANNOUNCEMENT . AT THIS POINT I CANT TELL WHETHER THEY ARE JUST MOVING TO SATBALIZE THE RATE .. OR WHAT ..

 

 

ONLY THIS TRANSLATION   STATES ANYTHING ABOUT  DEALERS BEING WARNED ABOUT  EXCHANGE RATE CHANGE ..

 

 

IF THAT IS IN THE TRANSLATION .. AND NOT IN THE OTHERS .. HOW DOES A WHOLE SENTENCE  GET TRANSLATED   OR NOT GET TRANSLATED ... FROM THE SAME CBI ANNOUNCEMENT

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A CBI exchange rate news item is a very rare bird indeed and I think it is a signal.  It doesn't say when or by how much but the CBI wouldn't "warn" dealers if it was going to be a small shift.  But, this is the news item I will look back on as being the most relevant.....and I am enlarging it, bolding the type, printing it, framing it, and hanging it on my wall.  It will become a priceless momento.

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CBI Announcement Translated - Big Thank You To Abby ...

 

March 14, 2013

Press Release
Issued by The Central Bank of Iraq

The CBI is closely watching the changes in the exchange rates in the local markets, and the increase in the price of the foreign currencies in the secondary market in Iraq. Regardless of what the causes and sources of these changes are, or what the manipulative intentions are, this bank remains responsible for the stability of, and all that goes with ensuring the stability of the exchange rate price of the dinar in accordance with the economic data of Iraq.

The fact is that the Central Bank of Iraq is in the process of implementing a number of decisions taken by its board of directors, which strives to achieve this stability. Also, this is done so that the legitimate stakeholders and businessmen are not exposed to harm inflicted on their economic activity as a result of the expected change of prices prevalent in the past few days.  Thus, the bank has released this statement so that they can take this into consideration.

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Fwiw, Here's What Kaperoni Said About It .......

3-14-2013 Newshound Guru Kaperoni Article: "CBI announces new decision to reduce exchange rate of foreign currency in Iraq" I sent this to our Arabic translator, his comments imply that this CBI statement is not what others are making it out to be. The text is purely a PR announcement by the central bank: It says the bank is watching closely what is going on with the exchange market (legitimate or otherwise) including the rise of the price of foreign currencies and the regulations governing the exchange market.. This is a report via the media to assure everyone that the bank is the regulator and assure the public and legitimate businesses that the bank is looking for the public interest according Iraq's economic needs.

Read more: http://dinarvets.com/forums/index.php?/topic/143839-kaperoni-oil-revenue-will-make-it-the-strongest-currency-in-the-world/#ixzz2NeJgZqUw

B)B)B)

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Fwiw, Here's What Kaperoni Said About It .......

3-14-2013 Newshound Guru Kaperoni Article: "CBI announces new decision to reduce exchange rate of foreign currency in Iraq" I sent this to our Arabic translator, his comments imply that this CBI statement is not what others are making it out to be. The text is purely a PR announcement by the central bank: It says the bank is watching closely what is going on with the exchange market (legitimate or otherwise) including the rise of the price of foreign currencies and the regulations governing the exchange market.. This is a report via the media to assure everyone that the bank is the regulator and assure the public and legitimate businesses that the bank is looking for the public interest according Iraq's economic needs.

Read more: http://dinarvets.com/forums/index.php?/topic/143839-kaperoni-oil-revenue-will-make-it-the-strongest-currency-in-the-world/#ixzz2NeJgZqUw

B)B)B)

WHAT?.......NO SPIN?........
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The CBI is smarter than us.  They know what they are doing, we only guess.  My take is that progress is being made on every other level.  The CBI I staes that they are responsible for stability, and ensuring that stability in line with the economic data of Iraq.  This is not negative, it is positive.  They also say they are implementing decisions which strive to ensure this stability.  Again - positive.  "the expected change of prices prevalent in the past few days."  This is ambiguous and can be interpreted as we will, however, the CBI rate on their website remains static, so "past few days" could mean decisions they have made past few days re progress Chapter V11, etc etc etc. The question I ask myself is why would they put this notice out if the projected change was minimal.... 1162, 1152, whatever.  This miniscule movement would not have much bearing on the day to day economy of Iraq.  I think it is an important press release and says more than we think.

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Not to be a downer but I think all this article is doing is referencing actions to get the market rate of the dinar (1255 to 1) closer to the programmed rate (1166 to 1).  How can CBI do this- 1 way- by reducing the supply of dinars, by decreasing the amount of IQD;s out in the marketplace.

 

I hope I am wrong on just this market to rogrammed rate closure.

 

You are exactly right imo.  Thank you!

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