Parliamentary economy: central bank reserves increase to more than 80 billion dollars will enhance the stability of the Iraqi dinar

[IQD1217]

They are not going to loop!! The whole point of CBI as they stated before is to bring down the amount of dinar down to 30B from 33trillion. They want to get rid of the bigger bills so when you buy a can of soda you don't go in there with a 10,000 dinar .. They want it to be like it is Here in the US .. And they way to do that is to reduce the amount of currency that is out there in dinar and raise the value. If there is less bills out there it's worth more!! Eventually they want the smaller bills like $1,$5,$10 etc.. You can't do that now it isn't worth hardly anything .. You think Citibank would be opening up in Iraq to make nothing .. Come on

[gainesm]

Gainesm.....

Your math is just a tad off towards the end.....if you had a million dinar and they lopped, you would end up with a thousand dinar still worth about 860 USD.....Then.if they upped the exchange rate to around 2, you would have only doubled that original 860 USD you put in....

 

D'oh! You're right, it's 1,000 IQD that it goes to.  So that means, then, that 1,000 IQD would be equal to 860 USD at the current rate.

 

1,000 IQD at a 2.67 rate would make it $2,670.

 

Definitely not the payout I was hoping for, but still wouldn't throw it away. :/

[jeepguy]

let see --- if they sold the dollar for 1168 per 1 dollar , then they did the l,o,p, 1000 dinar is now worth 860 u.s. dollars  < --- now the dollars are coming back in and the dinars are going out ,  and c.b.i. is  only making 200.oo per dinar exchange ......  will this make the people excited about the dinar ?  I don`t think so , in fact they just might head back too the streets ,  just like Egypt is doing now,  and  rio  in brazil also in the streets,  all of these lower economy`s are just tittering ,  waiting , and not doing any good for the common folks of their area`s .... now Iraq has trillions, and stated they could handle 2dollar and 50  per dinar ------>  we are hashing this thing all over the board,  wonder what the average Iraqi citizen  is thinking ?   { I would imaging they see this as the power of the dinar coming back as it was before , when it was 3.oo .. and with this thinking they would be all over the dinar , cashing in those dollars fast, and c.b.i. would be getting those dollars back , and buying our dinars with those bucks , }   < this  was  talked about a lot in forums , but , a lot of folks are thinking the dollars for our dinars would be in oil transactions, through the federal side here { or treasury } ..... now if the average Iraqi  has been thinking this , and the rates come out just a l,o,p, with not much value .. I would think it wouldn`t be enough to keep these folks happy, they have been reading all the news articles  about 1 to 1 --- dinar will be worth 1.13. too 1.50  < ----- this in my thinking is what the average Iraqi is wanting and waiting for ,  or else it will be a waste ,and the people will be hitting the streets ,,,,   this is just my thinking in lines of what I would be doing if I were in the Iraqi streets waiting , and celebrating  { the lifting of chapter 7 the big  deal bagdaddy had made of the 7 ,   only to have the dinar worth nothing again,   they would be essentially pumping their own people into a frenzy ,,,   so  with some chatting with dinar buddies ,  the best out come for bagdad and Iraq is come out like all have stated 1 too 1 or the 2 to 2.50 per dinar -----> this would be the only way they could save face in front of the entire community of arabs now that they have been talking the dinar and values ,, the only thing they must be waiting for would be parliament to give the go ahead,  load the smart cards and give all Iraqi people  the h,c, l ,  monies through the cards .....they are moving on a lot of laws , if you have been looking over other dinar sites and reading all the laws they are handling they are busy ,  just hope they can get this finished by ramadon ,   thanks for looking at my rants  and come on    values ------     

[Gullywumper]

Out of that 33 trillion I wonder how much the CBI is holding?Every dinar cant be out

in circulation.I think if they had a forth of that being held by the CBI they could very well

rv at a decent rate.How do you know how much the CBI is holding?

How do you proove theirs 33trillion in circulation?

I guess the CBI doesnt have a single dinar in the bank?

I dont know thats why I am asking.everyone seems to think that all 33trillion is in circulation.

[zigmeister]

Out of that 33 trillion I wonder how much the CBI is holding?Every dinar cant be out

in circulation.I think if they had a forth of that being held by the CBI they could very well

rv at a decent rate.How do you know how much the CBI is holding?

How do you proove theirs 33trillion in circulation?

I guess the CBI doesnt have a single dinar in the bank?

I dont know thats why I am asking.everyone seems to think that all 33trillion is in circulation.

We only know what they say is out there.  That is all we know.  We can take their word for it or not.  

[Carvette]

I am sure a newbee to all of this, but with Adam's help and some of you members I hope I will understand what I need to know when it all comes together. I just moved up to Platinum VIP and submitted my Corp. forms...I know we all need this to happen for one reason or another. I have been blessed all my life, and I will make it through it too, no matter how long the wait...everyone just hang-loose..carvette

[IQD1217]

CBI: The end of 2012 will see the currency exchange

Posted: January 8, 2012 in Iraqi Dinar/Politics, Top Headlines

Tags: Baghdad, Central bank, Central Bank Iraq, exchange rate, Iraq, Iraqi dinar, Supply and demand, United States dollar

On: Sun 08/01/2012 18:10

Iraq will not use the dinar in the sales of oil citizen – the follow-up denied the Central Bank of Iraq and there are efforts to use the dinar in the sales of some of the oil exports of the country, because the «market speculators will buy the dinar to sell to countries dealing with the country’s oil, and we will enter into a whirlpool of speculation in the dinar, and we are already to reduce inflation, which has suffered monetary Ktltna ».

The Vice-Governor of the Bank Mazhar Mohammad Saleh said that countries that have turned their currencies to the international currency has a very strong economy, such as the European Union, China, Japan and the United States.

The Iraq covering the dinar in hard currency through the credits worth $ 53 billion. and the project to delete three zeros from the dinar, Saleh said that «the central bank ended the preparations for the replacement process end of the year», pointing out that «dinar witnessed the first process of replacing a successful 2004, when Replace more than six trillion dinars Bdnanar new and is expected to begin the process of replacement of a second after the removal of three zeros end of this year, and this will be decided by the government ».

The size of the Iraqi currency traded locally about 33 trillion dinars, after he was no more than six trillion in 2003, by banks, to 70 per cent of the money supply.

Salih stressed that auction the central bank sold $ 40 billion over the past year, pointing out that «the auction is one of the most important means of monetary policy shift in which oil revenues to the liquidity of local insurance requirements of government budgets, as well to the control of the dinar exchange rate and reducing inflation ».

He said, «Central will be obliged to issue a block additional cash during the current year, due to the increased size of the budget, and this means insurance reserves an additional hard currency, which is normal with overall economic growth of the country».

He explained that Central Bank is obliged offering larger quantities of the dollar through auction the higher government expenditures denominated in dinars, as 60 per cent of the proceeds of the sale go expenses-governmental organizations, and the remaining are for the benefit of the private sector, and expected to increase demand for the dollar in the current year because of the adoption by the Government budget is the highest in the history of the country.

The government decided to cut the budget this year of $ 115 billion to 100 billion, based on the price of a barrel of oil equals $ 85, and a deficit of $ 14 billion would be covered through internal and external borrowing from the IMF and World Bank. The volume of trade State of Iraq in the last year, according to the benefit of $ 46 billion, two-thirds of the private sector.

It is noteworthy that the Iraqis would prefer to deal in dollars because of the low value of the dinar, as the value of the banknote the same category Top 25 thousand dinars (equivalent to $ 20). to that, the Central Bank that will support the opening of the Rafidain and Rasheed in the Kurdistan region, stressing that he had not received any formal request so far on the subject of the Departments of the two banks.

Salih said (Rn) that »the CBI supports the opening of branches of the Rafidain and Rasheed in the Kurdistan region that it will support Autism financial market in general».

Saleh pointed out that «the banking market is not adversely affected by administrative boundaries, and the opening of branches of the Rafidain and Rasheed in the Kurdistan region will stimulate bank transactions and boost the economy in the country ».

Saleh added by saying that «the central bank waiting to provide Departments of Rafidain and Rasheed wrote a formal request through the approval to open branches in the Kurdistan region».

The Iraqi Ministry of Finance had announced earlier that it is serious in opening branches of the bank Rafidain and Rasheed in the Kurdistan region, noting that he will be able to staff in the province pull advances the property of those branches. and according to statistics released by the Iraqi Ministry of Finance recently, there are 25 banks waged, and five state banks in Iraq , and most of those five is the Rafidain banks, which has 190 branches in all provinces and abroad, except for the Kurdistan region in addition to the Rasheed Bank, which has 150 branches in and outside the Kurdistan region of Iraq, except to the bank’s real estate, agricultural and industrial.

http://bit.ly/wCqeHC

Here an old article ..

[Psych]

Gainesm.....

Your math is just a tad off towards the end.....if you had a million dinar and they lopped, you would end up with a thousand dinar still worth about 860 USD.....Then.if they upped the exchange rate to around 2, you would have only doubled that original 860 USD you put in....

And this seems to be realistic in my mind in terms of return,  A $3 RV sounds great, but I am not sure where Iraq would get the 99 trillion USD to cover it.  IOUs from Okie?  Or maybe my math is off??

[keepmwlknfny]

Out of that 33 trillion I wonder how much the CBI is holding?Every dinar cant be out

in circulation.I think if they had a forth of that being held by the CBI they could very well

rv at a decent rate.How do you know how much the CBI is holding?

How do you proove theirs 33trillion in circulation?

I guess the CBI doesnt have a single dinar in the bank?

I dont know thats why I am asking.everyone seems to think that all 33trillion is in circulation.

The amount that they keep repeating in circulation is what the CBI reports as being "currency outside of banks" which does NOT include any currency in its vaults......its how much the CBI has physically printed/issued/distributed.....

[keepmwlknfny]

They are not going to loop!! The whole point of CBI as they stated before is to bring down the amount of dinar down to 30B from 33trillion. They want to get rid of the bigger bills so when you buy a can of soda you don't go in there with a 10,000 dinar .. They want it to be like it is Here in the US .. And they way to do that is to reduce the amount of currency that is out there in dinar and raise the value. If there is less bills out there it's worth more!! Eventually they want the smaller bills like $1,$5,$10 etc.. You can't do that now it isn't worth hardly anything .. You think Citibank would be opening up in Iraq to make nothing .. Come on

And the only way they have described reducing the money supply is by lopping.....thats what their whole delete the zeros plan is. If you research other countries who have deleted zeros you will find your answer......