Senior banker: Iraq has become a market for the dollar-funded

[yota691]

Senior banker: Iraq has become a market for the dollar-funded

Created on Wednesday, 24 April / April 2013 09:39 | |

 

 

 

Baghdad / Ahmed Yassin

 Banking expert attributed the appearance of Mohammed Saleh reasons for the high exchange rate of the dollar against the Iraqi dinar to the increased demand in the domestic market.

 Saleh said that those who control the dollar and exchange rates of foreign currencies in Iraq Kvelon the work on the stability of the exchange rates of the dollar according to the economic and financial policies that must work in market economies.

 Saleh added that Iraq has become a market-funded for the many destinations by selling huge amounts of dollar exchange rates and foreign currency of various kinds, attributing the reasons for the high exchange rate of the dollar against the Iraqi dinar in the local markets to withdrawals of large and abnormal during the hearings conducted by the day.

 He described the benefit of this rise in local markets about it natural considering that the exchange rates of foreign currencies linked to demand and supply in the market local Iraqi Each more than demand for the dollar leads to increased exchange rate and all more than display at least its price in the market is Maithaddd policy based on determining exchange rates of hard currency in Referring to the CBI.

 On the other hand stressed a number of owners of banking offices in Baghdad and the Kurdistan region to the high exchange rates of the dollar against the Iraqi dinar to about 128 thousand dinars for one hundred dollars against the exchange rate reached to 130 thousand dinars for one hundred dollars in the Kurdistan region. He said the owners of offices banking that the high exchange rates of the dollar during the past few months has been associated departure of former central bank governor Sinan al-Shabibi from office for political reasons and purely technical, مبينين that the central bank was working to determine the stability of the exchange rate of the dollar and the Iraqi dinar after doing several economic measures and financial.

They said the rise in the dollar and exchange rates of foreign currencies is still ongoing since for quite some time after the measures the central bank and the policies that it deems most bankers and financial wrong and incorrect cross-selling massive amounts of hard currency for all citizens by 5 thousand dollars for anyone who wishes to buy hard currency or discharge as led to an increase in the dollar exchange rates in the markets, without any checks and instructions.

Edited April 24, 2013 by yota691

[yota691]

If you try to hit the Link on this article, the web site is down....as of right now...

[SocalDinar]

Saleh is back in the game. If so I think he needs to update his photo.

Where are these US dollars coming from?

Reserves still show at 67 Billion but have seen articles that its at 68 Billion.

Some big money being made here!!  About 9 % difference between market rates and CBI rates.

 

Thanks Yota

[zigmeister]

Well now Saleh is a banking expert.  This story reflects their lack of transparency CBI is.  He states not only do they sell US dollars but other foreign currencies, however the report on their auctions only reflects US dollars and dinar, no other currencies are mentioned.

[TQueezy]

So, basically anyone can buy up to $5000 from the CBI in hard currency. There were 30 banks participating in the auction today so they can supply their local residents who go to their banks. $ 55 million usd cash was sold. There's only around 12-15 million Iraqi adults who are working class and use USD daily like that, my guess (taking into account they have a large number of children in the population of around 30mil).

[Bored]

this is how I see all this... Iraq has created a situation where the dinar appears unstable so their citizens exchange their dinar which is worth less and less every day for another currency. Clearing the streets of the dinar and sucking up the big notes. Setting the stage for an RV or RD or RI, whatever its called these days.. JMO

[Belecosity]

this is how I see all this... Iraq has created a situation where the dinar appears unstable so their citizens exchange their dinar which is worth less and less every day for another currency. Clearing the streets of the dinar and sucking up the big notes. Setting the stage for an RV or RD or RI, whatever its called these days.. JMO

completely agree  plus 1

[Bored]

and where did this inflation come from? like a month ago weren't they bragging how they wouldn't be affected by the poor global economy due to their huge currency reserves and etc. Now in 1 month they have 143% inflation after nothing really has changed.. like i previous said, this would be quite the sneaky way to clear the streets of dinar especially the big notes, deletion of the 000s. Who would hold onto a 25k note when its losing value on the daily when you could simply exchange it for the dollar which is on the rise... all just too much coincidence for me.. Hope im right! Go RV!  

[zigmeister]

Iraq propaganda, its hard to say what is the truth of the matter.

[mrref]

Don't believe every thing that you read.

[Bored]

Don't believe every thing that you read.

But its on the internet! so it has to be true! 

 

I know, thats the hardest part of this investment! Nearly impossible to find pertinent info and when you do you can't even fully believe it! I'm just formulating a theory based on what they "say" but I'm also watching what they're doing... But even the boy who cried wolf was right one of the times..