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

Parliament Economic Commission: dollar exchange Astaqrarsar the front of the dinar during the day


Recommended Posts

 

 
502150730.jpg BAGHDAD - Awan
 A member of the parliamentary economic and investment Salman al-Moussawi, on Tuesday, the stability of the exchange rate of the dollar against the Iraqi dinar soon, expecting that the exchange rate up to 120 dinars during the day.
The MP Moussawi's "Awan" that "the dollar exchange rate fell during these days in front of the Iraqi dinar from 271 dinars to 123 dinars," expected to "up to 120 dinars over the coming days, especially since the teams commission simple between what offered by auction and displayed in Iraqi market. "
. Musawi also denied news of the adoption of banks and private banks unified exchange rate of the dollar, saying "this action is contrary to the principles of economy adopted by the government." And said that "the strength of Iraqi economic sectors, supply and demand is one of the controls at the exchange rate of the dollar."
As witnessed Iraqi market in recent months from higher in the U.S. dollar فعزاه member of the Economic Commission to "the previous period, while the width of the dollar is not commensurate with the demand for it, but with the passage of days, got a balance between supply and demand which led to the stability of the exchange rate of the dollar after that was controlled the black market created by some intruders. " Moussawi stressed that "Iraq operates according to an open market system, and high or low dollar exchange rate depends on the demand existing in the Iraqi market, Hoeks former totalitarian system, which was based closed market policy." And between al-Moussawi said "the Economic Committee in the House of Representatives and the executive branch are working on activating economic sectors in the field of industry, trade, agriculture and tourism to raise the strength of the dinar against the dollar.
 

 

 

  • Upvote 2
  • Downvote 1
Link to post
Share on other sites

"the Economic Committee in the House of Representatives and the executive branch are working on activating economic sectors in the field of industry, trade, agriculture and tourism to raise the strength of the dinar against the dollar."

Well do it already!! : ) Nice article. Thanks Social!

  • Upvote 1
Link to post
Share on other sites

I make that 0.0083 cents per IQD

 

10000 IQD note divided by 120 IQD = 83.33

 

83.3 divided by 10000IQD = 0.00833 cents per 1IQD

Edited by zantac
  • Upvote 1
Link to post
Share on other sites

It means that the dinar is almost back to it's pegged rate of 1166 and will soon go lower. This is excellent news!

Remember, they are talking exchange rate on the ground there, not any intentional re-evaluation! It still remains great news!

  • Upvote 1
Link to post
Share on other sites
It means that the dinar is almost back to it's pegged rate of 1166 and will soon go lower. This is excellent news!

 

 

The above is not correct

 

If you have a rate of 1166 IQD per $ then the rate in cents is about 0.00085 cents

 

So if the article reads 120 IQD per $ then the rate is 0.0083 cents per IQD. What the article is trying to say is the IQD has moved up one decimal point

 

All you have to do is divide 10000IQD by 120 this will give you how many $ at that rate you will receive for a 10000iqd note. ($83.3)

Then just divide the amount of $s (83.3) by 10000 to get the rate of exchange (0.0083 cents per IQD) 

Edited by zantac
  • Upvote 3
Link to post
Share on other sites

I believe they mean the Market rate fluctuation of 120 pips

 

CBI shows less than this difference with a low of 1292 on May 13th to todays market rate of  1217

 

JMO

bingo. i was getting ready to load the ole pdf....thanks socal
Link to post
Share on other sites

I believe they mean the Market rate fluctuation of 120 pips

 

CBI shows less than this difference with a low of 1292 on May 13th to todays market rate of  1217

 

JMO

Socal is correct.  They are talking about pip movement.  They are not stating that the dinar will move to 120IQD / 1USD.  Since chapter 7 being lifted, the IQD is experiencing a gradual increase in pips against the dollar. 

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.