Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

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


Recommended Posts

  • Replies 59
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

prob tired of the same old thing. everytime one of these articles has come out announcing the reserves and making a statement about the rate of exchange, people go nuts with misinterpretation. it has

Parliamentary economy: central bank reserves increase to more than 80 billion dollars will enhance the stability of the Iraqi dinar 01-07-2013 11:38 AM     Baghdad (n

ohhhhhhhh  my lord  do I read this right ----------> 2.50  per dinar  -------> in and out side of Iraq    whooooooooooooooo hooooooooooo  dammmmmmm  baby    your the boss today with this find   

33 tril dinar iz equal to 25 billion dollars..thus the reserves of 80 billion can co er the current rate of exchange. youre reading this wrong if you think it means an RV rate.

Where does it state 33 trillion equal to 25 billion?

Link to post
Share on other sites

I am we'll aware of all the years we have read articles like this, but I see the comparison of dinar to dollar, not dinar to dinar. Every time they meant dinar it says dinar, and the same with the dollar. This article tells us in country and out if country dinar covered, the amount of dinar total, the reserves, and what te dinar can be. This says what we want to hear, just hope that's what they meant

  • Upvote 1
Link to post
Share on other sites

I am we'll aware of all the years we have read articles like this, but I see the comparison of dinar to dollar, not dinar to dinar. Every time they meant dinar it says dinar, and the same with the dollar. This article tells us in country and out if country dinar covered, the amount of dinar total, the reserves, and what te dinar can be. This says what we want to hear, just hope that's what they meant

There you go.  My take is this they can cover the dinar, in country and out of country.  Now this probably is not a 2.50 rate but to me because of the verbiage speaking to in and out of country I think they are saying they can raise the exchange rate and can cover the 33 trillion dinar.  IMO this article is not only for the Iraqi but the "investors" of the dinar.  Not only that they state the dinar will strengthen against the dollar and foreign currency, this is not street value, but internationally.  Even higher expectations to bring more investors to find a haven in their currency plus the investors will promote growth in their national economy.  

 

This article is a big deal.  I am fairly confident they will honor our dinar outside of the borders in Iraq.  By the statement, because it would be a safe haven for him, plus he will promote the growth of the national economy. was the Iraqi Central Bank announced an increase in its cash reserves of hard currency to more than 80 billion dollars. Hints to a gradual movement where people make money on the dinar as it increases up.  jmo.

  • Upvote 1
Link to post
Share on other sites

Correct me if I am wrong:

 

So, if they have $80 billion in reserves, and 33 trillion dinar to cover.  If they RV to $2.50, that means each dinar is worth $2.50.  That 33 trillion now becomes worth $82 trillion.  How does $80 billion cover $82 trillion?  Unless they remove three zeros, then they have enough to cover, almost....  

 

Am I thinking on the right path here?

  • Upvote 2
Link to post
Share on other sites

Correct me if I am wrong:

 

So, if they have $80 billion in reserves, and 33 trillion dinar to cover.  If they RV to $2.50, that means each dinar is worth $2.50.  That 33 trillion now becomes worth $82 trillion.  How does $80 billion cover $82 trillion?  Unless they remove three zeros, then they have enough to cover, almost....  

 

Am I thinking on the right path here?

Exactly!

  • Upvote 2
Link to post
Share on other sites

I have been flipping out at work all day  bugging  ,, my  dinar buddies ,   about this deal ------> they state out, in and out of Iraq , meaning they are a strong independent country now, and they can go with 2,50 per dinar against the u.s. dollar ,  what I have thought about all day is that they can support 2.50  which tells everybody in Iraq who was afraid of the 1 to 1 ratio , that if Iraq can pull off 2.50 -- 1 too 1 is  the start position as they have been telling every one , { it might even do the 1.13 or the 1.30  -=--   MAN O` MAN  2 to 1  would be awesome ------- >  foot note , thanks  for busting this article - I don`t have to buy yota that ring   :lol:    

  • Upvote 2
Link to post
Share on other sites

It is very aggravating at times, the way they word these things. Of course the numbers add up to prove they can support almost 300:1 dinar to dollar using their $80 billion reserves. But on the flip side, what country backs their currency 100%? We assume they are speaking of backing their money this way yet we do not know their intentions and what they are aiming for. We in the US of A back our currency on faith.... Which is unfortunately deteriorating. Lets hope Iraq picks something between 100% and, lets say, a fiat ?? Pray for the best, prepare for the worst

  • Upvote 2
Link to post
Share on other sites

Correct me if I am wrong:

 

So, if they have $80 billion in reserves, and 33 trillion dinar to cover.  If they RV to $2.50, that means each dinar is worth $2.50.  That 33 trillion now becomes worth $82 trillion.  How does $80 billion cover $82 trillion?  Unless they remove three zeros, then they have enough to cover, almost....  

 

Am I thinking on the right path here?

Yes, you are on the right path-  Unfortunately.

  • Upvote 2
Link to post
Share on other sites

It is very aggravating at times, the way they word these things. Of course the numbers add up to prove they can support almost 300:1 dinar to dollar using their $80 billion reserves. But on the flip side, what country backs their currency 100%? We assume they are speaking of backing their money this way yet we do not know their intentions and what they are aiming for. We in the US of A back our currency on faith.... Which is unfortunately deteriorating. Lets hope Iraq picks something between 100% and, lets say, a fiat ?? Pray for the best, prepare for the worst

Reserve currencies like the dollar do rely on the faith behind it to make its value.....unfortunately pegged currencies like Iraq, do rely heavily on its reserves backing its value....

 

The central bank must be willing to spend its reserves to buy back all offers of its currency at that rate, if not, then they must devalue their currency.....

 

Not saying Iraq has to back it 100%, but I dont think they will venture too far from that with its current exchange regime

  • Upvote 3
  • Downvote 1
Link to post
Share on other sites

Reserve currencies like the dollar do rely on the faith behind it to make its value.....unfortunately pegged currencies like Iraq, do rely heavily on its reserves backing its value....

 

The central bank must be willing to spend its reserves to buy back all offers of its currency at that rate, if not, then they must devalue their currency.....

 

Not saying Iraq has to back it 100%, but I dont think they will venture too far from that with its current exchange regime

Keep...I've  followed your posts for a few years now, and was wondering if your opinion  of RD verses a RV have swung or moved closer to the middle(anyone's best guess) or does it remain the same.  I greatly appreciate your opinion even though I might not always agree. 

Best Regards,

R.O.

Link to post
Share on other sites

The ministry of planning said they want it to come out around $1.13 , there is no way it will come out over $2 .. Everyone would cash in and Iraq would not be able to build their infrastructure !!! Who would invest ? Everyone needs to understand that they are doing everything they set out to do.. Just takes time .. It will be we'll worth the wait , I've been in this for over 7 years and its all coming together!!

  • Upvote 2
Link to post
Share on other sites

The ministry of planning said they want it to come out around $1.13 , there is no way it will come out over $2 .. Everyone would cash in and Iraq would not be able to build their infrastructure !!! Who would invest ? Everyone needs to understand that they are doing everything they set out to do.. Just takes time .. It will be we'll worth the wait , I've been in this for over 7 years and its all coming together!!

I like this thinking, come in  at 1.13 and let it gain for a couple years. :eyebrows:

 

Exchange a bit pay off all debt, invest back into Iraq   :peace:

 

 

Go RV  B)  B)

Link to post
Share on other sites

It's smart everyone makes money , Citibank is there now, more companies will go to invest where there are major companies that they can trust!! It will only get better . ISX entering agreement with NASDAQ . This is just the beging !! GDP over 10 come on its right in front of us

Link to post
Share on other sites

Keep...I've  followed your posts for a few years now, and was wondering if your opinion  of RD verses a RV have swung or moved closer to the middle(anyone's best guess) or does it remain the same.  I greatly appreciate your opinion even though I might not always agree. 

Best Regards,

R.O.

Honestly it boggles my mind that they can and have been able to move the rate up little by little because of the reserves being built up, but have been reluctant to do anything. Now it seems they are able to back the dinar by 2.5 times its current rate....which would put it around 4 or 500 to 1. Of course its not the end result we are hoping for but it would be a move in the right direction. As long as we dont see a new ISO code being put forward, Id say the chances of them gradually moving the value up are in our favor. But they do still keep throwing the currency reform (deleting the zeros/RD) out there every now and then so its really hard to say what they are really thinking. I think the instability in the market rate and having the programmed rate still in place is whats holding them back from putting themselves out there.....

 

If they can get the market rate under control and get that more in line with the official rate or even lower, they might feel more confident in moving away from the programmed rate and moving the value up to where they are still backing the dinar 100%......the central banks number one goal is keeping the inflation and exchange rate stable and I really think they are afraid to get their feet wet.....

 

Or they really are just waiting for the parliament to approve the steps necessary to RD and they dont plan on moving the value up gradually....

 

Still too hard to tell....keep an eye on months closer to end of year...thats more likely when they would release and ISO code if they are gonna RD

  • Upvote 1
Link to post
Share on other sites

Tell me if I have this right, please...

 

If they removed 3 zeroes so that the 33 Trillion IQD becomes 33 Billion IQD being covered by 80 Billion USD.

 

So, if you have 1,000,000 IQD right now, it's currently worth about $860 USD based on the exchange rate of 1166 IQD to 1 USD.

 

If they remove 3 zeros (and issued new notes, presumably) you have 100,000 IQD instead of 1,000,000 IQD.  It would still be worth about $860 USD.  Exchange rate stays 1 IQD to .86 USD

 

With 80 billion USD in reserve, however, they can cover a much higher exchange rate - a little over double, in fact.

 

The exchange rate they could support would be 1 IQD to 2.67 USD.  This should mean your 100,000 IQD can be worth about $267,000 USD.  

 

That would mean they did a LOP, a RD, and a RV all in quick succession if I understand this properly...and while not the massive profit we hoped to see, it's still pretty darn decent.

  • Upvote 1
  • Downvote 1
Link to post
Share on other sites

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....

Link to post
Share on other sites
Guest
This topic is now closed to further replies.
  • Recently Browsing   0 members

    No registered users viewing this page.




  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.