Central Bank applied the plan in June to raise the exchange rate of the dinar against the dollar

[yota691]

Central Bank applied the plan in June to raise the exchange rate of the dinar against the dollar

Published on Saturday, 25 May 2013 20:25 | Written by: Citizen newspaper | | Hits: 228

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BAGHDAD - citizen 
in the parliamentary Finance Committee that the central bank told us that it will implement a new plan to raise the value of the Iraqi dinar against the U.S. dollar. A member of the Committee Faleh Djiashi's (IMN) said that «the central bank told the Finance Committee representative that an action plan will begin to apply early next June, will be capable of lifting Iraqi dinar exchange rate against the U.S. dollar«., And added that «the central bank to work on reducing the number of Companies that deal with it and put the money in the auction, which will reduce the value of the dollar and reliance on monetary policy open without procedures and controls are complex and open wide field in front of the government banks «. announced that the Finance Committee for the formation of a small committee consisting of three deputies to monitor the exchange rate of the Iraqi dinar against the dollar, confirmed that the actions of the process carried out by the Central Bank last week led to address the problem gradually. The Parliament had guest this week and central bank governor Abdul Basit Turki agency and discussed with him the reasons for the high price of the dollar against the dinar.

Edited May 31, 2013 by yota691

[fib1618]

Yep, close that gap between the street rate and the regular exchange rate...

[sandfly]

JUST GIVE 50.

[Biker]

And we sit and wait as the world turns, They will do it today and then that astroid thats comming will hit the earth at 5:00 Pm this evening with my luck LOL.

[eburt]

Can't Wait - GO RV!!!

[SocalDinar]

Thanks Yota

Says gradually which could mean movement in the rate.

Now we all know they would never announce this ahead of time.

But If they are announcing an increase would anyone believe it?

I don't think so. But the people of Iraq would have been told.

Maybe giving themselves an out with the excuse

WE TOLD YOU SO

Hey Fib The street rate is up 50 pips in the last 2 weeks

Best rate since March.

[dontlop]

if there is some type of mechanism  needed to raise the rate .. it would have to be  a return to a crawling peg .. or a depeg to the dollar .. some type of exchange regime change ..or more  regulations of some kind

 

but if the official exchange rate  was being reset , they would just do it  and not advertise it ..

[leanonme]

Sounds like good news to me. Early june is the kind of "soon" that I can get excited about too!

[RodandStaff]

... bout time to "Git-r-dun boyz"!!!    

 

Thanks for the post Yota!!!!   

[magawatt]

Don't sweat the asteroid.

Worry about something fun like the cap gains increase.

[rozman]

It is time !!!!!!! But why announce it. Cannot understand why they would do so. But can we really understand what they do.

[geman]

well we shall see if they meant June or next June ??????????????

[zigmeister]

It seems to me they restricted who could play in the auctions last summer.   This caused lower cash results from the auctions.  Then they lifted restrictions.