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AlJazeera has announced the Dinar revaluation strategy - email - Outside post 4-8-10

ronscarpa

By ronscarpa,
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mondeogolf Newbie

mondeogolf

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Strategy to raise the value of the Iraqi Dinar

April 8/2010

Alaa Youssef - Baghdad

An Iraqi official announced the adoption of a new strategy intended to raise the value of the Iraqi dinar against foreign currencies.

The chancellor said the central bank in the appearance of Dr. Mohammad Saleh, told Al Jazeera Net "I have been working for years to improve the value of the Iraqi dinar exchange, several measures have been taken until we came to the stability of its value at 1170 dinars to the dollar."

He explained that he had talked with some fluctuations up and down according to the impact of the overall situation in Iraq in the absence of stability.

Iraqis watching the trades on the Baghdad Stock Exchange (French - Archive)

Reform progress

He disclosed that the new strategy has begun the reform of management system of the national currency and payment system of Iraq, said that this will be the basis for the application of strategy to reform the currency. He favored the Iraqi official that these steps will take a year or more.

On the zeros added in the Iraqi currency, which made the value of the disbursement of land, Saleh said that the zeros added that high inflation rates since the Iran-Iraq war and the subsequent siege and invasion, and thus doubled the cash block several times.

In 1990, the cash block of 28 billion dinars, and became a six trillion dinars in 2003, while now stands at 25 trillion dinars. He said that this has become necessary to change the payment system because the Iraqi economy on the verge of developing and producing oil major which leads to spending significantly.

According to the adviser at the CBI, the new strategy will shift the current monetary mass (25 trillion dinars) to 15 billion dollars through the adoption of coins and currency Iraqi few.

And the ability to withstand the Iraqi dinar against foreign currencies, Saleh said that "the Iraqi economy is strong, has great resources to qualify to stand in front of foreign exchange if there are economic and monetary policy is correct, and political and economic stability and security."

He expressed optimism that the Iraqi economy will recover, which is reflected in the rise of the dinar against foreign currencies.

Mohammed al-Samarrai (island Net)

Relative stability

For his part, said a banking expert, Mohammed al-Samarrai said the Iraqi dinar was relatively stable at the present time, is affected by the conditions of security rise and fall of a simple not as great as in the past.

He assured the island revealed that the dinar is witnessing now balanced and influenced by the simple economic decisions and political inappropriate in the exchange rate, without prejudice was balanced.

He hoped that the high value if foreign investors have entered the Iraqi market, or if there is openness towards the private sector. Samurai called to re-construction of the many industrial projects that have been stalled as a result of the blockade and invasion which led to the destruction of industrial equipment.

He pointed to the neglect of 36 factories giant in the past seven years. And the actions necessary to raise the value of the dinar against foreign currencies, "said Samarrai, including stabilizing the security situation and the political decisions and laws that encourage private sector support, and encourage the entry of foreign and domestic investment, and encourage the return of capacity to rebuild it.

Excess oil

The Iraqi banking expert Mohamed Kamel Hussein said that there was a perception among the Iraqi Central Bank to lift three zeros from the value of the dinar, by issuing a new currency to improve its value.

Mohamed Kamel Hussein (Al-Jazeera Net)

However, he believed that the lifting of the three zeros will not change anything because the factors affecting the exchange rate of the dinar against foreign currency depends on the surplus that is supplied by oil revenues.

Provides lift the productive capacity of large oil revenues diminish the value of inflation, and thus raise the value of the dinar by providing a surplus of foreign currency.

The exchange value of the Iraqi dinar was the strongest in the region late seventies of the last century, but began to decline during the Iran-Iraq war before riven by the blockade.

Have fallen to their lowest levels during the U.S. invasion in 2003, amounting to U.S. dollar exchange rate four thousand Iraqi dinars.

http://translate.google.com/translat...abic%26hl%3Den

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joyfull7 Newbie

joyfull7

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pastor rick...what/where do you pastor...will be anxious to see the translation...thanks SO much for sharing...maybe today is the day to buy a few more...??? anyone have any thoughts on this...we so don't want to be greedy......the Lord isn't going to bless our greed...i am positive of this...

thanks to everyone invloved with this site...i am feeling more educated though just as confused as ever!

appreciated the taping of Frank's conference call yesterday...

BTW---did i mention this is the first ever blog, chat room or the like i have ever ever ever done? never would have happened without reading what some of you have shared....thanks to all.... :-)

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calguy Newbie

calguy

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Did anyone read this article? I did and i did not read anything stating they (Iraq CBI) was going to RV the IQD at pre gulf war 1 rates. If you were able to find the paragraph that stated this, please point it out!:D

Strategy to raise the value of the Iraqi Dinar

April 8/2010

Alaa Youssef - Baghdad

An Iraqi official announced the adoption of a new strategy intended to raise the value of the Iraqi dinar against foreign currencies.

The chancellor said the central bank in the appearance of Dr. Mohammad Saleh, told Al Jazeera Net "I have been working for years to improve the value of the Iraqi dinar exchange, several measures have been taken until we came to the stability of its value at 1170 dinars to the dollar."

He explained that he had talked with some fluctuations up and down according to the impact of the overall situation in Iraq in the absence of stability.

Iraqis watching the trades on the Baghdad Stock Exchange (French - Archive)

Reform progress

He disclosed that the new strategy has begun the reform of management system of the national currency and payment system of Iraq, said that this will be the basis for the application of strategy to reform the currency. He favored the Iraqi official that these steps will take a year or more.

On the zeros added in the Iraqi currency, which made the value of the disbursement of land, Saleh said that the zeros added that high inflation rates since the Iran-Iraq war and the subsequent siege and invasion, and thus doubled the cash block several times.

In 1990, the cash block of 28 billion dinars, and became a six trillion dinars in 2003, while now stands at 25 trillion dinars. He said that this has become necessary to change the payment system because the Iraqi economy on the verge of developing and producing oil major which leads to spending significantly.

According to the adviser at the CBI, the new strategy will shift the current monetary mass (25 trillion dinars) to 15 billion dollars through the adoption of coins and currency Iraqi few.

And the ability to withstand the Iraqi dinar against foreign currencies, Saleh said that "the Iraqi economy is strong, has great resources to qualify to stand in front of foreign exchange if there are economic and monetary policy is correct, and political and economic stability and security."

He expressed optimism that the Iraqi economy will recover, which is reflected in the rise of the dinar against foreign currencies.

Mohammed al-Samarrai (island Net)

Relative stability

For his part, said a banking expert, Mohammed al-Samarrai said the Iraqi dinar was relatively stable at the present time, is affected by the conditions of security rise and fall of a simple not as great as in the past.

He assured the island revealed that the dinar is witnessing now balanced and influenced by the simple economic decisions and political inappropriate in the exchange rate, without prejudice was balanced.

He hoped that the high value if foreign investors have entered the Iraqi market, or if there is openness towards the private sector. Samurai called to re-construction of the many industrial projects that have been stalled as a result of the blockade and invasion which led to the destruction of industrial equipment.

He pointed to the neglect of 36 factories giant in the past seven years. And the actions necessary to raise the value of the dinar against foreign currencies, "said Samarrai, including stabilizing the security situation and the political decisions and laws that encourage private sector support, and encourage the entry of foreign and domestic investment, and encourage the return of capacity to rebuild it.

Excess oil

The Iraqi banking expert Mohamed Kamel Hussein said that there was a perception among the Iraqi Central Bank to lift three zeros from the value of the dinar, by issuing a new currency to improve its value.

Mohamed Kamel Hussein (Al-Jazeera Net)

However, he believed that the lifting of the three zeros will not change anything because the factors affecting the exchange rate of the dinar against foreign currency depends on the surplus that is supplied by oil revenues.

Provides lift the productive capacity of large oil revenues diminish the value of inflation, and thus raise the value of the dinar by providing a surplus of foreign currency.

The exchange value of the Iraqi dinar was the strongest in the region late seventies of the last century, but began to decline during the Iran-Iraq war before riven by the blockade.

Have fallen to their lowest levels during the U.S. invasion in 2003, amounting to U.S. dollar exchange rate four thousand Iraqi dinars.

http://translate.google.com/translat...abic%26hl%3Den

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Kent Newbie

Kent

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Posted

If Pastor Rick is referring to the article above (also at http://dinarvets.com/forums/showthread.php?17539-Strategy-to-raise-the-value-of-the-Iraqi-dinar&p=117427#post117427 ) I don't see a reference to the pre-invasion rates. Also the description that involves decreasing the money supply to $15 Billion doesn't sound like an RV/RI which would increase money supply, not decrease it. The bottom paragraph seems to describe circumstances that would relate to foreign trade increasing foreign currency reserves and increase the rate if they allowed the exchange rate to freely float.

I am stumped. They don't seem to connect (as much as I would like to hope). Anyone else want to clarify what they see in this?

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ronscarpa Grand Master

ronscarpa

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I just went to the Al Jazeera English website and there is nothing there concerning the Iraq RV/RI....hmmmm... imagine that. :rolleyes:

The post came from KTFM, and was duplicated on another site. It says that the student read it IN ARABIC on the Aljazeera site, and would translate it for him later today. It didn't say it was an English translation site, but it did say it was in Arabic...!

Everyone, Read the post again. I'm just the mailman's helper ;)...!

RON ;)

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ronscarpa Grand Master

ronscarpa

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If Pastor Rick is referring to the article above (also at http://dinarvets.com/forums/showthread.php?17539-Strategy-to-raise-the-value-of-the-Iraqi-dinar&p=117427#post117427 ) I don't see a reference to the pre-invasion rates. Also the description that involves decreasing the money supply to $15 Billion doesn't sound like an RV/RI which would increase money supply, not decrease it. The bottom paragraph seems to describe circumstances that would relate to foreign trade increasing foreign currency reserves and increase the rate if they allowed the exchange rate to freely float.

I am stumped. They don't seem to connect (as much as I would like to hope). Anyone else want to clarify what they see in this?

Hi Kent,

Pastor Rick was only posting information from an article that a student sent him in an email - the the article posted above, to which you referenced wasn't even mentioned.

Let's pray the boy got it right, and it will happen.

RON ;)

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