Dinar News Strategy to raise the value of the Iraqi dinar

[digital11]

Strategy to raise the value of the Iraqi dinar

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.

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.

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.

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.

Source: http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://www.aljazeera.net/NR/exeres/24F5C8D0-E457-425C-8134-E3B2F61EB19B.htm&prev=_t&rurl=translate.google.com&twu=1&usg=ALkJrhg_4WHr7jBPaPkn1fLZbn1uY6VdzA

[willie]

omg i shocked not a mention of a LOP

[Quart]

Did I miss the idea that the dinar would be returned to its pre-Saddam value?

[FL.KEYS]

that would fine with me!

[quadraph0nic]

hey, i bet this was the article referenced in the KTF email to ronscarpa that he shared in the forum. the translated site is from aljazeera...neat

[digital11]

hey, i bet this was the article referenced in the KTF email to ronscarpa that he shared in the forum. the translated site is from aljazeera...neat

That's how I found it.

[greebs]

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. If there's an RV of 1 to 1, shouldn't 25 trillion dinars=25 trillion dollars?

[homeless]

My take is nothing is going to be done till the oil fields start to be developed and the oil starts to flow, i.e. 5 years or more. Many construction projects may be on the boards, but until they start, hmm value of the dinar will stay the same. Trying to rv your currency is harding than you think. Not like bewitched and waving a wond and all is well. Its great to think it will rv at 1-1, but more realistic at .01-1 maybe in your wildest dreams 1-1. Anyway, I have my 10million and growing dinars and will continue to wait patiently, like a savings bond.

[Teresa82]

This is excellent news, but what is the date of this ???

[rich daniels]

25,000,000,000,000 dinar / 15,000,000,000 dollers = 1,666.67 dinar to the dollar

what am i missing

[Kent]

omg i shocked not a mention of a LOP

willie, I suppose people won't be suprised that I read this differently. When I see

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.

it sounds like a lop because a lop reduces the face/nominal value of the money supply while an RV increases the money supply.

When I read this

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.

I see them floating the value rather than a managed float because to me it implies allowing foreign sales of oil to increase their foreign currency reserves (and by that improving the exchange rate).

I would love to see someone else comment on which statement they see as an RV announcement. I am not trying to be a killjoy, just reading this at face value through my own colored lens and interested in someone else's take on this.

Help anyone?

[joyfull7]

we only have 5.5M....i guess we really don't have enough, do we?

[Iraqbuck]

So Sad...All comments all over the posts about the Dinar and the money people want...But Mine is the only one on the MOST IMPORTANT POST ON THIS SIGHT honoring the 2 Soldiers that we lost up here at our Base..God Bless the fallen and all of their families and I pray that we are all not so distracted by the want of our precious money that we forget those here that are giving their all and making it all possible for us to have it. Without Duty, Honor and Courage what good is the money anyway.....

Read more: http://dinarvets.com/forums/showthread.php?17544-Two-US-soldiers-killed-in-northern-Iraq#ixzz0kYJlkaL4

[Doc31]

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. If there's an RV of 1 to 1, shouldn't 25 trillion dinars=25 trillion dollars?

OK, let's do the math: 25T IQD/15B USD= 1666.66 dinar/dollar ... currently it is at 1168+ ... they tell us at the current rate is "perfectly balanced" ... this ratio is worse not better ... this so called strategy is nothing but a ruse/misdirection/whatever your word is.

If they were talking IQD to coins eg "monetary MASS" then would we expect the coinage to be $15B ... nope .

Outside the country vs in country IQD maybe but not probable ... if 90% is held by Central Banks around the world as is reported then that would be very agressive and highly unlikely in the first year ... over time yes, but don't forget that each country always holds some currency of all the countries that they trade with and that the ratios are regulated and that they are required to sell off or buy accordingly ... it will fluctuate and Iraq will have to cover and absorb ... too quickly and you will have tight money and huge inflation. This would not produce the jewel of the med that they are trying to become.

It's a very nice sounding article ... IMO it doesn't pass the smell test.

[Dianne]

Thank you Doc31 for your input on this article.

[Teresa82]

Sorry, but to me this sounds like take off the zeros, and then revalue at say 1.15, would mean we would make 15 cents on each dinar we purchased (less the cost of the dinar of course) PLEASE tell me I am wrong!!!!!!!! very worried here!!!! and could you tell me how I am wrong if I am?

[shane l]

ok iam new at this what would happen whith the 25000 dinar note if they drop three 0 off wood it still be good for 25000 dinar? what would i do whith the notes i have.

[shane l]

I would like to know to.

[Dianne]

Well, I thought I was feeling better about this article until I read some other posts. Can someone please clarify this article?

[shane l]

what will happen to the 25000 dinar notes that we all have?

[luckylucy]

I don't know how anyone can read that google transation and understand a thing. we have a dinarvets member whose wife read Arabic and they are going to try to get better translation for us.

[EagleEye]

I don't know how anyone can read that google transation and understand a thing. we have a dinarvets member whose wife read Arabic and they are going to try to get better translation for us.

Now THAT is what we need ACCURATE translations of these articles....thanks LL !!!

[quadraph0nic]

Ask netinfo

[Kent]

Sorry, but to me this sounds like take off the zeros, and then revalue at say 1.15, would mean we would make 15 cents on each dinar we purchased (less the cost of the dinar of course) PLEASE tell me I am wrong!!!!!!!! very worried here!!!! and could you tell me how I am wrong if I am?

Teresa82, if they did that they would wind up with a $28.75Billion dollar money supply (your 15%RV combined with 3 zero lop). That can't be what this article is describing, or if it is, there has to be another strategy to concurrently buy back circulated currency in the process rather than a clean exchange. I agree though, to do what they are saying it would have to be a lop and SOMETHING (no clue what). But again, that doesn't quite jive with the bottom of the article. May be Doc is right and this article just doesn't make enough since to pass the smell test.

.

[quadraph0nic]

Kent, how would a country reduce the money supply?

I did a quick google search and came across the FED reduced money by selling securities. could they do somehting like that?