changing values on a Forex site...

[dontlop]

I normally would laugh at this type of thing. But I just checked XE Currency Converter and got 1155.75? So it's more thatn just one site malfunctioning?  Maybe it's floating but no one knows officially?

 

ON THE XE .. YOU CAN SWITCH OVER TO THE CHART ,,";GRAPH"; AND SWITCH THE TIMELINES .. TRY SWITCHING TO A MONTH OR A WEEK  .. AND IT SHOWS THIS MOVING ALL THE TIME ..

[dontlop]

http://www.xe.com/currencycharts/?from=USD}&to=IQD THERES A CHART LINK FOR XE IT LOOKS LIKE ITS BEEN MOVING ALOT IN THE PAST COUPLE WEKS ..  SWITCH IT OVER TO A YEAR

IF YOU PUT IT ON ONE YEAR IT LOOKS AS IF ALOT OF MOVEMENT STARTED AROUND THE END OF THE STANDBY AGREEMENT  AROUND THE THIRD WEEK OF FEBRUARY

Edited March 16, 2013 by dontlop

[vomer]

IF YOU PUT IT ON ONE YEAR IT LOOKS AS IF ALOT OF MOVEMENT STARTED AROUND THE END OF THE STANDBY AGREEMENT  AROUND THE THIRD WEEK OF FEBRUARY

 

 

Wow look at that.  Don't tell me that's not something unusual.

[dontlop]

IF YOU PUT IT ON ONE YEAR IT LOOKS AS IF ALOT OF MOVEMENT STARTED AROUND THE END OF THE STANDBY AGREEMENT  AROUND THE THIRD WEEK OF FEBRUARY

 

 

Wow look at that.  Don't tell me that's not something unusual.

YA ALOT OF ACTIVITY IN RECENT WEEKS

[dontlop]

im still waiting for the imf report on iraqs last  extension of the stand by agreement that expired on feb 23rd . that should tell us something about the exchange regime . since that was one of the reasons for the extension

[dontlop]

http://www.xe.com/currencycharts/?from=USD}&to=IQD THERES A CHART LINK FOR XE IT LOOKS LIKE ITS BEEN MOVING ALOT IN THE PAST COUPLE WEKS ..  SWITCH IT OVER TO A YEAR

IF YOU PUT IT ON ONE YEAR IT LOOKS AS IF ALOT OF MOVEMENT STARTED AROUND THE END OF THE STANDBY AGREEMENT  AROUND THE THIRD WEEK OF FEBRUARY

i guess no one else has any comments on this link at the one year chart as why its moving so much lately

[sandyf]

Market rates arent based on the dollar going up and down.....Im pretty sure its just based on what people will pay for it in the domestic market....what it is worth to the citizens in a way....

 

 

After months of disparity between the official Vietnam dong/US dollar exchange rate and the rate commanded by the black market, the State Bank of Vietnam has weakened the local currency to a range surrounding 20693. This is the fourth decrease in 15 months, the sixth in two years. The move by the central bank came expectedly as there had been great pressure to devalue in the months leading up to Tet with a promise from the government not to do so before Tet.

This won't be the last devaluation for 2011.

For one, the new rate is still below the 21000+ the black market had been demanding before the change. Previously, the dollar would fetch up to 21300 VND at jewelry shops.

http://www.saigonist.com/vnd2011

[Darin]

After months of disparity between the official Vietnam dong/US dollar exchange rate and the rate commanded by the black market, the State Bank of Vietnam has weakened the local currency to a range surrounding 20693. This is the fourth decrease in 15 months, the sixth in two years. The move by the central bank came expectedly as there had been great pressure to devalue in the months leading up to Tet with a promise from the government not to do so before Tet.

This won't be the last devaluation for 2011.

For one, the new rate is still below the 21000+ the black market had been demanding before the change. Previously, the dollar would fetch up to 21300 VND at jewelry shops.

http://www.saigonist.com/vnd2011

Doesn't it appear on a global basis at times, that a bank uses a devaluation method to pressure those within the country to avoid pursuing foreign currencies?

Think about it, a devalue would make the USD harder to come by as it would take more of 'that' foreign currency to gain the USD.

Kind of interesting when you think of it in those terms..

It would be like the CBI decided to devalue their currency to make USD more expensive to decrease the market demand for USD.

I think it would be a fix in the short term, but upon stabilization, it would continue to be a problem.

So, what methods could be used to create more demand for the domestic currency and less for the foreign currency?

I think I would argue ease of exchange outside the market would be a big help.

i guess no one else has any comments on this link at the one year chart as why its moving so much lately

It is quite interesting that this was brought up.

So, more changes in the recent weeks in the actions of the pairings after the SBA expired.

Does the value in crease because recently the dollar gained value? But how does that relate in correlation to a recent SBA expiration?

[dontlop]

It is quite interesting that this was brought up.

So, more changes in the recent weeks in the actions of the pairings after the SBA expired.

Does the value in crease because recently the dollar gained value? But how does that relate in correlation to a recent SBA expiration?

i have no idea whats going on . those numbers are the rates against the dollar ..i thought if it was pegged to the dollar . where ever the dollar went the dinar followed . but this is showing  its not following the dollar ,,its managed to follow the dollar . or at least thats what im seeing .

 

A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market. The currency that is used as the reference is called the counter currency or quote currency and the currency that is quoted in relation is called the base currency or transaction currency.

 

In an increasingly integrated world economy, the currency rates impact any given country's economy through the trade balance. In this aspect, almost all currencies are managed since central banks or governments intervene to influence the value of their currencies.

[hi-five]

As I understand it,  the fluxuation of the USD will not always be uniform among other currencies that are pegged to the USD.   When betting on currency pairs, you evaulate the fundamentals and patterns of the currency pair, and bet on which of the two currencies you think will be stronger (long term and short term) than the other.  If you think the USD will be stronger than the IQD, you go long and hope the USD rises against the IQD.   If you think the USD will be weaker than the IQD, you short it and hope it goes down. 

 

I do think the chart is very interesting - - the value of the IQD as compared to the USD went up according to the chart.  The USD may be over all stronger, but when paired with the IQD, the IQD is even stronger. 

 

You have to also remember, the forex market can be manipulated. 

[dontlop]

thanks

[sandyf]

Doesn't it appear on a global basis at times, that a bank uses a devaluation method to pressure those within the country to avoid pursuing foreign currencies?

Think about it, a devalue would make the USD harder to come by as it would take more of 'that' foreign currency to gain the USD.

Kind of interesting when you think of it in those terms..

It would be like the CBI decided to devalue their currency to make USD more expensive to decrease the market demand for USD.

I think it would be a fix in the short term, but upon stabilization, it would continue to be a problem.

So, what methods could be used to create more demand for the domestic currency and less for the foreign currency?

I think I would argue ease of exchange outside the market would be a big help.

The post I made was trying to point out that a central bank has no control over the black market and in Vietnam they opted for devaluation in order to avoid disparity.

Iraq, unlike Vietnam, has in the interests of stability avoided being pressurised by the black market. It is the movements in the black market rate that has been causing some confusion recently.