MP Faizullah likely return of the exchange rate of the dinar against the dollar to normal

[caper]

WOOOOOO HOOOOOO !!!!! I'm loving all the great news lately!!!!!! GO RV!!!!!

[Belecosity]

verrrrrrrr niceeeee.... howw mucccccchhhhh?

[fox]

I hope some people will be kicking themselves for laughing at this investment shortly. 

[unirod]

If more money is leaving Iraq than entering. Would this not mean that investors and suppliers of goods and services, are buying up Iraq at a discount?..IMO

Thx Yota

[blueskies]

I agree with most of the folks. I don't think the normal rate refers to 1166. From the context of the article, it's clear that it means greater monetary reform as moving the dinar back up to 1166 from whatever the street rate is is only going to get them a cent or two and that is not going to accomplish any economic growth and they wouldn't need the IMF for help with recovering a few pips either. JMO.

[Tubbs]

Any rate above 1.13 being normal I'm ok with it 

Have a great Easter   

 

He is Risen   

 

Go RV / RI     

[VARusso]

I maybe wrong but here’s the way I see it. A Value of 1= 3.3778

 

This came stright from Wiki....

 

The dinar was introduced into circulation in 1932, by replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with the British pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778, before a 5 percent devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported at five to six times higher (3 dinars for US$1) than the official rate.

[NeedRv]

BUT the question is ....will that rate be str8 out the gate or a gradual rise to that rate..... that is the million dinar question 

[BETTYBOOP]

WOOO HOOOOO!!! THANKS YOTA! FEEL A HAPPY DANCE COMING ON .....SOON !!!

[staunch]

Doesn't this article and what we are hoping it means fly directly in the face of the theory "they will never pre announce their intention to RV?"

[SWFloridaGuy]

Love it Yota, excellent find!! 

[R Veyron]

I like them apples.

[KiaKaha]

1166 is the ARTIFICIAL PROGRAM RATE. The natural rate according to thier economic feasibility study with IMF WAS 3.204. Who knows what they will come out at, but it is clear they want to get back to the 3+ range.

 

Bill, I got butterflies in my stomach when I read this! It would be so totally awesome! Here's hoping you're spot on!

 

KK

[easyrider]

3+ sounds great and definitely their target rate from  the 80's. Wheres my  Lopsters at?

 

 

Edited March 29, 2013 by easyrider

[KiaKaha]

I maybe wrong but here’s the way I see it. A Value of 1= 3.3778

 

This came stright from Wiki....

 

The dinar was introduced into circulation in 1932, by replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with the British pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778, before a 5 percent devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported at five to six times higher (3 dinars for US$1) than the official rate.

 

Thanks, Russo! Wiki being, well, Wiki, and not always factual... I'll still take it! Time to start camper shopping!

 

KK

the central bank must take its measures necessary to recover the value of the Iraqi dinar to natural rate against the U.S. dollar, and the use of international expertise should benefit from the recommendations of the International Monetary Fund to support the national currency. / end / 8.. /

 

I got so excited by the comments, I forgot to thank the messenger! +1, Yota!

 

If they're looking for recommendations, I'm sure all of us will recommend $3+...

 

KK

[Osmosis]

Frank 26 said $3.41 the other day.....pretty close!  Just sayin........

 

even if my inner inhibitor is sayin whoa!

[DinarThug]

What's the opposite of artificial? Natural.

 

RSS

 

Whether It's Natural Or Artificial - Go Big Or Go Home !

 

 

                                

 

 

Thx For Yet Another One Of Ur Really Great Finds Yota ! Ur Really "Racking" Them Up !

 

        

[hame55]

I maybe wrong but here’s the way I see it. A Value of 1= 3.3778

 

This came stright from Wiki....

 

The dinar was introduced into circulation in 1932, by replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with the British pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778, before a 5 percent devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported at five to six times higher (3 dinars for US$1) than the official rate.

I'll take that rate any day...and besides, it makes more sense to come out lower for many reasons already stated by Adam and others. They can build up to a dollar, then three dollars...

Whether It's Natural Or Artificial - Go Big Or Go Home !

 

 

                                

 

 

Thx For Yet Another One Of Ur Really Great Finds Yota ! Ur Really "Racking" Them Up !

 

        

Camera angle off a bit...move to the right...there.

Doesn't this article and what we are hoping it means fly directly in the face of the theory "they will never pre announce their intention to RV?"

Depends on who you mean by "they."

 

If you mean the people in charge of the RV, I agree. But there are many others in economics in Iraq who must propose changes to their system that involve currency changes, so they must debate.

 

Secondly, they COULD mean an RD first, then set the rate at $3.37  (OOOOOOOOOHHHHHH   NOOOOOOOOOOO!)

[SocalDinar]

Thanks Yota

Just waiting for our day my friend

It's coming

[keepmwlknfny]

The Bing translator uses "normal rate" in the first reference, which probably means returning it to the "normal" 1166 rate.

 

 

"Baghdad (newsletter). Deputy Chairman of the Finance Committee said the Attorney of the Kurdistan blocs Coalition/Ahmed Faizullah, Iraqi dinar exchange rate return to normal rate against the US dollar, the requirement to take the necessary procedures of the Central Bank and the use of international expertise to support the national currency.

He said Faizullah (News Agency): that the country suffers from flop to monetary and economic policy, where the funds go out of the country to imports over the funds that come to the country from oil sales and other, plus there are other funds wasted in different ways.

He added that the Central Bank is required to take the necessary measures to recover the value of the Iraqi dinar to the natural rate against the US dollar, and the use of international experience and recommendations of the International Monetary Fund to support the national currency./finished/8 l. Eng."

I agree.....the market rate needs to match the official rate or even surpass it....normal/natural rate for the dinar being 1166.....

[Flatbush Zombies]

I agree.....the market rate needs to match the official rate or even surpass it....normal/natural rate for the dinar being 1166.....

Exactly. Read the whole article and not a sentence in there to get you all jolly.

[TQueezy]

Wheres my  Lopsters at?

Just remember Easy, you got that from me first! Don't worry, free license to use it. Bahaha

Where mah lopsters at?!

[Flatbush Zombies]

Also, how did some members get a rate of 3+ in this article? Anything to twist to fit their beliefs I guess. Read the whole article in context...it's really simple and not an RV article. Nice try though

[MyLadiesDaddy]

Also, how did some members get a rate of 3+ in this article? Anything to twist to fit their beliefs I guess. Read the whole article in context...it's really simple and not an RV article. Nice try though

If you can't read plain English then go eat a doughnut. Or better yet go home.

[Flatbush Zombies]

If you can't read plain English then go eat a doughnut. Or better yet go home.

You're embarrassing yourself.