supergirl Posted June 18, 2013 Report Share Posted June 18, 2013 Bank of Baghdad begins initiative to reduce the exchange rate of the dollar and confirms: Prices have dropped by thirty dinars in just two hours 06/18/2013 21:20Range Press / BaghdadThe Department of the Bank of Baghdad, on Tuesday, the association of private banks in Iraq "launched an initiative to reduce the dollar exchange rate" to "(1183) to sell cash and (1178)" for the adoption of a documentary, and showed that the initiative began, "three banks" under the auspices of the Central Bank of Iraq , and stressed that "the (25) banks" would seek to reduce the price of the dollar, as revealed on "dollar decline by thirty dinars within two hours only" the start of the official working hours for the day, has indicated it will include every day, "(400) citizen" distribution and by " five thousand dollars per citizen. "The head of the Association of private banks in Iraq, and the Managing Director of the Bank of Baghdad, Adnan al-Chalabi, in an interview to a number of media, including (range Press), on the sidelines of the Bank of Baghdad organized a conference to announce the reduction of the dollar exchange rate, at its headquarters, the center of the capital Baghdad, that "the initiative of the Association of private banks in Iraq, under the auspices of the Central Bank of Iraq NARI onset three banks are all from Assyria, Baghdad and guidance to reduce the exchange rate of the dollar."He said Chalabi that "have been identified dollar exchange rate (1183) in cash sales instead of (1189) and (1178) for the adoption of a documentary rather than (1184)," and pointed out that "as soon as the announcement of the move before starting implementation dropped the dollar in the markets Iraqi and arrived degrees low ", and expressed the hope that the" fall more after starting to sell at reduced prices. "According to Chalabi that "has been planning for this operation after numerous interviews with the central bank views supreme in Parliament was launched the idea by banks that operate all the banks to reduce the dollar exchange rate," and went onto say that "the dollar has fallen from Price (1250) to (1220) until the time ten this morning. "The Managing Director of the Bank of Baghdad that "will reduce the price of the dollar by the twenty-five banks from banks registered in the Association," explaining that he "will begin next week selling price reduced," pointing out that "this will support the exchange rate of the Iraqi dinar against the dollar and will make its price strong toward the dollar. "He pointed out that "the number of banks registered in the Association is thirty Iraqi banks and six branches of Arab banks," and expressed his belief that "thirty-six banks will agree and next week will be selling reduction," مردفا "We will not stand at this step as a link banks, but will be followed by steps another for the purpose of reducing the price of the dollar, "vowing to" work together in all the banks to reduce the price of the dollar. "He Janabi that "the central bank promised to double the share of private banks of four millions of dollars to eight millions of dollars a week," returned the move as "a step support for the banks," calling on all banks to "commitment smoothly sale and delivery of the dollar to the citizens smoothly good style good" .For his part, expert said Bank of Baghdad Abbas Sudan, in an interview (range Press) that "the reduction and distribution of the dollar exchange rate systems in accordance with rules and terms and conditions issued by the Central Bank of Iraq," noting that "our conditions are a legal process must take into account all the controls that in." .He added that "the mechanism of action in the distribution process, guided announce the names of customers on the wall and are distributed twenty list of all the pool list (20) customer to become a distribution on a daily basis at least (400) customer," hoping "that the process in the coming period on a broader level. "The Sudanese saying, "We distribute them to the amounts added by us to the central bank to increase the supply of the dollar," pointing out that "increasing the supply of the dollar will reduce the dollar exchange rate," stressing that "this will contribute to support the Iraqi dinar exchange rate and improve the economic situation in the markets local communities. "And that "customers attend under the terms of which bring passport and dictate form and photographing the menu (42) in the passport," مردفا that "after the completion of these actions gets citizen five thousand dollars and the amount of (1183)," stressing that "the listed They are specific only to sell the dollar. "He pointed out that "Iqbal citizens to buy the dollar is good," adding that they "were present since an early hours of the morning," he said, adding, "We doubled the number of staff in order to accommodate the arrivals to buy the dollar."The Central Bank of Iraq announced, on Monday, received a formal letter from the Association of Banks confirms its commitment to the initiative of three banks as a first stage to sell the dollar at a rate lower than the price the advertiser, as pointed out that this initiative represents a "natural behavior", which show him Iraqi banks, stressed that it in line with its monetary policy to support the Iraqi economy.The Central Bank of Iraq announced, earlier, the cancellation of banking companies is registered has regardless of obtaining clearance from the Ministry of Commerce or not, and stressed that the banking companies registered and certified before 2003 were 300 companies only, as pointed out that companies exceeded Thousand It a mixture of companies that operate in accordance with the conditions and regulations of the bank and the other got the approval from the Ministry of Trade, while other companies operate without getting any vacation.Referred to as the central bank announced, earlier this year, 2013, it closed 190 banking offices in Baghdad and the provinces for violating the legal requirements imposed by the Bank.The fact-finding committee in matches Development Fund of Iraq revealed, April 8, 2013, that the central bank sold during the past six years in the auctions process conducted by about 207 billion dollars, equivalent to 56% of the revenues of Iraq's oil in those years, and while confirming that these sales were more doubles than you need the local market, they revealed that more than half of those sales went to the banks specific poured their purchases from the bank in the Gulf and Jordan. accused deputies, politicians and economists Central Bank of Iraq over the past months, burn "an average of four billion dollars a month in an auction hard currency for the benefit of ten banks, mostly with Gulf capital, buy a day most of the claims of the Central Bank of hard currency and overcharge make a profit of up to 6% as it controls the Iraqi economy. "Accused the General Authority for the North Bank for Finance and Investment, on the seventh of April 2013, the CBI not to meet the needs of the Iraqi market of hard currency over the past five months and refer it the responsibility of the private banks, while confirming that Iraq needs to pump nearly $ 300 million in the market daily to meet needs of the currency in the currency the central bank when he criticized the remarks they promised to attack him and "stems from ignorance and lack of knowledge of monetary policy."The Cabinet decided to Iraqi (16 October 2012), the prime BSA Abdul Basit Turki functions of the central bank governor and the agency rather than the Governor of the Bank Previous Shabibi on charges of issues of financial and administrative corruption in the bank, especially in operations Auction dollars, but the something that did not occur to the work of the Bank and currency auction whereas the exchange rate of the Iraqi dinar a significant decline against the dollar jumped from 1170 dinars to the dollar in the fall of 2012 to 1270 dinars to the dollar in April 2013.The International Monetary Fund said in a report issued in (03.21.2013), following the end of the consultations held in Amman between a delegation from the Fund and an Iraqi delegation headed by VMware Planning Ali Shukri, and seen (long-Presse) it "an improvement in the financial sector," but confirmed that it is still "need to be greater efforts by the central bank in the revision of monetary policy tools and strengthen banking supervision, and to accelerate the restructuring of the banking system."The International Monetary Fund (IMF) called the CBI to "take measures to gradually towards the liberalization of foreign exchange through auctions held by the Bank so as not to repeat disorders suffered by the financial market in the past year."The Fund stressed that the establishment of a national banking system requires the abandonment of the current model, which is controlled in which weak banks by state-owned receive preferential treatment apart from private banks, "calling on Iraq to do to strengthen public financial institutions to ensure efficiency and transparency in the use of oil revenues. http://translate.google.com/translate?act=url&depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D1790432 15 Link to comment Share on other sites More sharing options...
jeepguy Posted June 18, 2013 Report Share Posted June 18, 2013 if the post we are about to read ---> chapter 7 ----> this will be the start of the big bang we have been looking for , the dinar will do this over the next few weeks drop toward the 0.000 line .... thanks supergirl 2 Link to comment Share on other sites More sharing options...
10 YEARS LATER Posted June 18, 2013 Report Share Posted June 18, 2013 Ok then. Keep moving the ball down the field. 1 Link to comment Share on other sites More sharing options...
Retiredofficer Posted June 18, 2013 Report Share Posted June 18, 2013 Sir, May I have another...(drop in exchange rate). 3 Link to comment Share on other sites More sharing options...
hablrob Posted June 18, 2013 Report Share Posted June 18, 2013 Well..I can't believe they're bragging about this. But, hey it is a start :-) 1 Link to comment Share on other sites More sharing options...
gakman Posted June 18, 2013 Report Share Posted June 18, 2013 Hey Jeep: if the post we are about to read ---> chapter 7 ----> this will be the start of the big bang we have been looking for , the dinar will do this over the next few weeks drop toward the 0.000 line .... thanks supergirl 30 dinar drop in 2 hours, HHMMMMMMMM- 1183 divided by 30 = 39.4 units lets say 40 units. If the rate increased 30 dinars in two hours: that means in 80 hours, just under 4 days, ( 40 units * 2 hours) we will be at 1 to 1! 6 Link to comment Share on other sites More sharing options...
TrinityeXchange Posted June 18, 2013 Report Share Posted June 18, 2013 amazing how all of this is coming together! wow! 1 Link to comment Share on other sites More sharing options...
kennyc Posted June 18, 2013 Report Share Posted June 18, 2013 Looks like they are going to float right on down to where we want it to be. GO RV 1 Link to comment Share on other sites More sharing options...
caz1104 Posted June 18, 2013 Report Share Posted June 18, 2013 Thanks Supergirl!!!!! Great post! Great news!!! Thanks for providing us with informative articles. I'd give you big hug but my dang arms ain't long enough - LOL 2 Link to comment Share on other sites More sharing options...
Biker Posted June 18, 2013 Report Share Posted June 18, 2013 Thats rite so Papa can bring home the Bacon. I got my toes and fingers crossed this time. There actuly doing something.But Adam will tell the story tomarrow i hope. 1 Link to comment Share on other sites More sharing options...
supergirl Posted June 18, 2013 Author Report Share Posted June 18, 2013 (edited) @caz I feel the love virtually and my iraqi facebook friend said the rate yesterday was 1000.23 - $1 and today was 1000.24.750 - $1 today. and that is the bank rate. we just finished up a skype chat. Edited June 18, 2013 by supergirl 7 Link to comment Share on other sites More sharing options...
jg1 Posted June 18, 2013 Report Share Posted June 18, 2013 1 1 Link to comment Share on other sites More sharing options...
WISKY291 Posted June 18, 2013 Report Share Posted June 18, 2013 Thanks, Supergirl 2 Link to comment Share on other sites More sharing options...
JMULS31 Posted June 18, 2013 Report Share Posted June 18, 2013 Woot woot.... Meow.... 1 Link to comment Share on other sites More sharing options...
DeadGuy Posted June 18, 2013 Report Share Posted June 18, 2013 (edited) Yep, let's just hope for a slow, steady climb. Nothing too fast or drastic. Man, it's been a long hard ride on this investment. I sure hope it comes to fruition. Edited June 18, 2013 by DeadGuy 1 Link to comment Share on other sites More sharing options...
Elixirbaby Posted June 18, 2013 Report Share Posted June 18, 2013 Thanks Super. And thanks for sharing your friend with us 2 Link to comment Share on other sites More sharing options...
NWGUY Posted June 18, 2013 Report Share Posted June 18, 2013 1 to 1 soon, or 1 to 1, in coming days!!! Go RV or RI Soon!!! 1 Link to comment Share on other sites More sharing options...
Tirebiter Posted June 18, 2013 Report Share Posted June 18, 2013 I like the trend. However, I'm kind of ignorant on how to interpret this. So, the CBI says the rate is 1166? On the street is it 1183? Are they dropping the "street" rate 30 so it is now 1153? Supergirl, your friend says its actually 1000.24 - 1? I'm very confused. But then again, it doesn't take much for me to get confused. Thanks for the article and the find Supergirl! Like I've said before, any downward trend is good by me!!! 5 Link to comment Share on other sites More sharing options...
jg1 Posted June 18, 2013 Report Share Posted June 18, 2013 Looks as if this is all about the market rate. Selling the dollars to the Iraqi's, at a discounted rate will enable more dollars to be sold which in turn bring the market rate down. As far as the CBI it hasn't changed. Overall this will basically remove more Dinar from the streets which is good for us, so when the do revalue the Dinar it will be worth more. Right? 2 Link to comment Share on other sites More sharing options...
keepmwlknfny Posted June 18, 2013 Report Share Posted June 18, 2013 They are working on the market rate......not the official rate that we want.... They are dropping the rate for the beginning (two hours) of each day...... But the only way to get the confidence back in order to make moves on the official rate, is by aligning the market rate first.... 13 Link to comment Share on other sites More sharing options...
supergirl Posted June 18, 2013 Author Report Share Posted June 18, 2013 @tirebiter who really knows - all i know for sure is to watch the money! 4 Link to comment Share on other sites More sharing options...
Elixirbaby Posted June 18, 2013 Report Share Posted June 18, 2013 You got to think about it. Up until the last month or so, for every positive article there was a negative one right behind it. Lately tho it's been positive after positive. Something's up. Is it what we're all hoping for? I hope so. Time will tell. Go RV 3 Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted June 19, 2013 Report Share Posted June 19, 2013 man ... a cat can hope....kitty needs a new set of beats!!!!! 1 Link to comment Share on other sites More sharing options...
Francie26 Posted June 19, 2013 Report Share Posted June 19, 2013 Shoot! "I" need a new set of beats. (Whatever they are!). lol 1 Link to comment Share on other sites More sharing options...
bigwave Posted June 19, 2013 Report Share Posted June 19, 2013 GAKMan - I like your math. Link to comment Share on other sites More sharing options...
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