applying measures to reduce exchange "strictly confidential"

[rocky808]

Finance Committee Member: Next month, CBI to begin applying measures to reduce exchange rate volatility; Restore IQD to normal

 

Wednesday, May 29 / May 2013 10:27

confirmed the parliamentary Finance Committee, Wednesday, the Central Bank of Iraq next month will begin implementation of a package of measures designed to restore the exchange rate of the dollar against the Iraqi dinar to normal to prevent a repeat of the case of exchange rate volatility.

And plunged the value of the Iraqi dinar gradually over the past weeks to reach the price per dollar to about 1129 dinars after it had been stable for 1120, the highest rate up to the exchange rate during the past two years.

Committee member said Haitham al-Jubouri’s “Twilight News” that “the CBI told the Finance Committee that will begin next month, the application of measures to curb the rise of the dollar against the Iraqi dinar, and some of these measures did not disclose the details they will be strictly confidential.”

Jubouri explained that “one of the most prominent measures that the Iraqi Central Bank will begin to apply is to open letters of credit in the government and private banks,” noting that “the Finance Committee has informed the Iraqi Central Bank support for all procedures in reducing the rise in the dollar against the Iraqi dinar.”

The Finance Committee has ضيفت this month and central bank governor Abdul Basit Turki agency and discussed with him the reasons for the high price of the dollar against the Iraqi dinar.

 

http://translate.google.com/translate?depth=1&ei=WokBTPOiJZX4Na-tsTs&hl=en&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dbh9%26rls%3Dorg.mozilla:en-US:official&rurl=translate.google.com&sl=ar&u=http://www.shafaaq.com/sh2/index.php/news/economy-news/58488-2013-05-29-07-29-19.html

 

 

 

 

I liked the strictly confidential part.

Edited May 29, 2013 by rocky808

[zigmeister]

So they are saying the rate is 1129 down from 1120.  In reality then 1166 really isn't their official rate, 1129.  I know the dollar has been up and the dinar is pegged to it, so this is the reason for its rise.  Then back at the ranch the dinar is failing.  So how are they going to reduce volatility I wonder?  Change their peg?  Perplexing.

[teresa43]

I am confused as well, so what is the official rate? 1120 or 1166 or 1129

 

Finance Committee Member: Next month, CBI to begin applying measures to reduce exchange rate volatility; Restore IQD to normal

 

Wednesday, May 29 / May 2013 10:27

confirmed the parliamentary Finance Committee, Wednesday, the Central Bank of Iraq next month will begin implementation of a package of measures designed to restore the exchange rate of the dollar against the Iraqi dinar to normal to prevent a repeat of the case of exchange rate volatility.

And plunged the value of the Iraqi dinar gradually over the past weeks to reach the price per dollar to about 1129 dinars after it had been stable for 1120, the highest rate up to the exchange rate during the past two years.

Committee member said Haitham al-Jubouri’s “Twilight News” that “the CBI told the Finance Committee that will begin next month, the application of measures to curb the rise of the dollar against the Iraqi dinar, and some of these measures did not disclose the details they will be strictly confidential.”

Jubouri explained that “one of the most prominent measures that the Iraqi Central Bank will begin to apply is to open letters of credit in the government and private banks,” noting that “the Finance Committee has informed the Iraqi Central Bank support for all procedures in reducing the rise in the dollar against the Iraqi dinar.”

The Finance Committee has ضيفت this month and central bank governor Abdul Basit Turki agency and discussed with him the reasons for the high price of the dollar against the Iraqi dinar.

 

http://translate.google.com/translate?depth=1&ei=WokBTPOiJZX4Na-tsTs&hl=en&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dbh9%26rls%3Dorg.mozilla:en-US:official&rurl=translate.google.com&sl=ar&u=http://www.shafaaq.com/sh2/index.php/news/economy-news/58488-2013-05-29-07-29-19.html

 

 

 

 

I liked the strictly confidential part.

[zigmeister]

On CBI the official rate is 1166.  However do to its peg to the dollar I presume, and the dollar rising it is actually 1129.  I guess.

[rocky808]

my guess is as good as yours Zig either way these are all small to me and wont help their situation if they are following a plan and again why toss around small numbers if in fact they are looking to make a statement.if a 1000/1 is happiness to them and they stated before they wanted it at 1000/1 someone better plant some flowers and bring up their happy bar or draw a line in the sand and put a 1/1 on this party and start the music.

[TQueezy]

They are lying shysters and their "official" CBI website is a joke and far from accurate and up to date.

[zigmeister]

my guess is as good as yours Zig either way these are all small to me and wont help their situation if they are following a plan and again why toss around small numbers if in fact they are looking to make a statement.if a 1000/1 is happiness to them and they stated before they wanted it at 1000/1 someone better plant some flowers and bring up their happy bar or draw a line in1 the sand and put a 1/1 on this party and start the music.

LOL!  I hear ya

[capt.cliff]

official 1166 on the world exchange---if it was 1129 then our investment would of increased in value---I think this may be a misprint and it is supposed to say 1229, that would be close to the rate the street money changers are using--you go to a bank you get 1166 to 1 US dollar ,on the street it costs you 1229 to get 1 US dollar sounds crazy but they are being ripped off for the difference---call it the vig!