Exchange rate of the dinar against the dollar 1.16

[IQD1217]

As of at least March 28, 2011, the official web site of the CBI states "the primary objectives of the Central Bank of Iraq (CBI) are to ensure domestic price stability and to foster a stable competitive market-based financial system. The CBI shall also promote sustainable growth, employment and prosperity in Iraq". The CBI web site further states that the functions of the CBI in addition to the primary objectives mentioned above include:

To implement the monetary policy and the exchange rate policy for Iraq.

To hold gold and manage the state reserves of gold.

To issue and manage the Iraq currency.

To establish, oversee, and promote a sound and efficient payment system.

To issue licenses or permits to banks and to regulate and supervise banks as further specified by the Banking Law.

To carry out any related ancillary tasks or transactions within the framework of Iraqi law.

The objectives of the Central Bank of the Iraq are as follows:

maintaining inflation stability

implementing monetary policy (including exchange rate policies)

managing the state's reserves

issuing and managing the Iraqi dinar

regulating private banks.

As of December 2009, the bank reported total assets valued at over 57 trillion dinars.[8] The bank’s head office is located in Baghdad with four branches in Basrah, Mosul, Sulaimaniyah and Erbil. However, currently the bank does not control the financial and administrative affairs of Erbil and Sulaimaniyah branches, as these branches are technically reporting to the headquarter in Baghdad and for all other issues they are reporting to Kurdistan Regional Government (KRG) and they are financed by KRG.

As of July 2010 steps and measures have taken place in order to integrate these branches with the headquarter in Baghdad.

Foreign exchange reserves have increased to nearly US$67 billion (as of September 2012) due to a rise in oil revenues, indicating the improved ability since 2003 to deal with the repayement of foreign debt, the currency stabilization, and the coverage of average monthly imports.

[keepmwlknfny]

what are you talking about ..the cbi is only managing the reserves  for the iraqi govt .. the reserves are owned by the govt of iraq . all the cbi does is issue the currency and set and manage monetary policy they dont own the currency .. the dfi fund is the govts money and so is the 80 billlion international reserves .

I wouldnt be so.sure about that one...... =)

[ComPLX]

Yes it is evident with some.....but obviously not the case with all by the statements they make! I am a real big person of positivity in lifr brlieve it or.not.....it actually annoys my girl at times....but with this speculation mybmind is so open that when i speak, people automatically think im being negative, and i just see it as being realistic....

Keep speak for the "others". Ppl like you are needed here because positive thinking isnt always in sync with reality. +++++++ to you man  

[dontlop]

I wouldnt be so.sure about that one...... =)

i know you wouldnt . read above your post .. read the last paragraph

 

Foreign exchange reserves have increased to nearly US$67 billion (as of September 2012) due to a rise in oil revenues,

Read more: http://dinarvets.com/forums/index.php?/topic/154316-exchange-rate-of-the-dinar-against-the-dollar-116/page-11#ixzz2Z4Cihrc2

 

 

you think the cbi is selling oil ?

 

To implement the monetary policy and the exchange rate policy for Iraq.

To hold gold and manage the state reserves of gold.

To issue and manage the Iraq currency.

To establish, oversee, and promote a sound and efficient payment system.

To issue licenses or permits to banks and to regulate and supervise banks as further specified by the Banking Law.

To carry out any related ancillary tasks or transactions within the framework of Iraqi law.

The objectives of the Central Bank of the Iraq are as follows:

maintaining inflation stability

implementing monetary policy (including exchange rate policies)

managing the state's reserves

issuing and managing the Iraqi dinar

regulating private banks.

Read more: http://dinarvets.com/forums/index.php?/topic/154316-exchange-rate-of-the-dinar-against-the-dollar-116/page-11#ixzz2Z4DVxbIm

Edited July 14, 2013 by dontlop

[WorkerBee]

Cause I wanna make money.....Im not trying to tell you that you are all wrong and this cant or wont happen.....

 

Im just trying to get you to think outside the normal train of thought that is hammered on these forums......everything isnt tied to a revaluation....and there are many ways things can be accomplished without making us a dime.....You dont have to get bent out of shape, just trying to open your mind to all sides.....

 

 

 

 

You know, I can remember a time, when Alawi lost, Maliki won and at that point the only thing holding up the RV was for them to seat their government, THEN, it would RV, soon. Oh what silly newbies we were.

[Amos9:13]

Truth is no one knows when the RV will occur we just know something has to be done soon, they are out of CH7 which was a big hold up financially.  But just like any other "job" there are prioritized agendas...the currency might be after the HCL ...who knows?

[keepmwlknfny]

i know you wouldnt . read above your post .. read the last paragraph Foreign exchange reserves have increased to nearly US$67 billion (as of September 2012) due to a rise in oil revenues,Read more: http://dinarvets.com/forums/index.php?/topic/154316-exchange-rate-of-the-dinar-against-the-dollar-116/page-11#ixzz2Z4Cihrc2  you think the cbi is selling oil ? To implement the monetary policy and the exchange rate policy for Iraq.To hold gold and manage the state reserves of gold.To issue and manage the Iraq currency.To establish, oversee, and promote a sound and efficient payment system.To issue licenses or permits to banks and to regulate and supervise banks as further specified by the Banking Law.To carry out any related ancillary tasks or transactions within the framework of Iraqi law.The objectives of the Central Bank of the Iraq are as follows:maintaining inflation stabilityimplementing monetary policy (including exchange rate policies)managing the state's reservesissuing and managing the Iraqi dinarregulating private banks.Read more: http://dinarvets.com/forums/index.php?/topic/154316-exchange-rate-of-the-dinar-against-the-dollar-116/page-11#ixzz2Z4DVxbIm

That doesn't mean the reserves are the property of the govt......

Can the GOI just take and spend the reserves if they want? Can the GOI do as they see fit with the reserves?

The CBI has built the reserves by selling the dollar through the auctions.....just FYI

[dontlop]

its hard to believe you  can even relate at all about this investment ..

[JMULS31]

Blah blah blah

That doesn't mean the reserves are the property of the govt......

Can the GOI just take and spend the reserves if they want? Can the GOI do as they see fit with the reserves?

The CBI has built the reserves by selling the dollar through the auctions.....just FYI

[IQD1217]

That doesn't mean the reserves are the property of the govt......

Can the GOI just take and spend the reserves if they want? Can the GOI do as they see fit with the reserves?

The CBI has built the reserves by selling the dollar through the auctions.....just FYI

It's a good thing you are keeping us grounded !!

[dontlop]

That doesn't mean the reserves are the property of the govt......

Can the GOI just take and spend the reserves if they want? Can the GOI do as they see fit with the reserves?

The CBI has built the reserves by selling the dollar through the auctions.....just FYI

what are you drunk ?

 

iqd1217 posted it for ya .. i pointed it out to you ...look at it !!!

 

Foreign exchange reserves have increased to nearly US$67 billion (as of September 2012) due to a rise in oil revenues,

Read more: http://dinarvets.com/forums/index.php?/topic/154316-exchange-rate-of-the-dinar-against-the-dollar-116/page-11#ixzz2Z4shtEZy

 

 

see it now .. not from auctions ..from oil revenues ..

does the cbi sell oil ..?

 

does the cbi manage  the states  reserves .. ?

 

whos reserves rose from oil sales ..?

 

who is selling oil .?

go to the cbi web site  and read

Edited July 15, 2013 by dontlop

[dontlop]

The Central Bank of Iraq was established as Iraq's independent central bank by Central Bank of Iraq Law 2004 with authorised capital of 100 billion dinars.^[2]According to the law, 100% of the bank's capital stock shall be held by the State and is not transferable.^[3]

The Constitution of Iraq states that the central bank is a financially and administratively independent institution, responsible before the Council of Representatives of Iraq.^[4] According to the Constitution, the Federal government of Iraq has the "exclusive authority" of "establishing and administering a central bank

[dontlop]

Earlier this month, the Iraqi government fired Central Bank of Iraq (CBI) Governor Sinan al-Shabibi amid allegations of corruption, a move that is both a symptom and a consequence of increased corruption in Iraq and also a possible power grab by Iraqi Prime Minister Nuri al-Maliki,according to the report, published Tuesday by the Office of the Special Inspector General for Iraq Reconstruction.

 

  http://thecable.foreignpolicy.com/category/topic/corruption

 

 

 

 

 looks to me like the goi owns 100% of the stock in the cbi and its non transferrable ..

 

 

seeing how  the iraq govt fired shabibbi,, it does look that way .. like the goi owns the cbi lock stock and barrel

..

Edited July 15, 2013 by dontlop

[keepmwlknfny]

Oh ok so the CBI is directly responsible for selling the oil of Iraq.....lol....gotcha big guy......

I think you need to find better references cause your not getting the whole story......keep digging watson, your getting closer......

[dontlop]

Oh ok so the CBI is directly responsible for selling the oil of Iraq.....lol....gotcha big guy......

I think you need to find better references cause your not getting the whole story......keep digging watson, your getting closer......

whats wrong with you you got to be drunk tonight .. the reserves belong to the iraqi govt and are only being managed by the cbi .. i dont understand why you would post that the reserves do not belong to the goi. its obvious whos selling oil and who owns the reserves . it is not the cbi ..it is the goi .. i dont think i posted the cbi is selling oil .. i do believe you got problems reading with understanding

this is way off topic here ..

 

this topic is stating the 2014 budget is based on 1.16  exchange rate .. is that what you read ?

Edited July 15, 2013 by dontlop

[imgesing]

Lopping isnt a real term? Guess everyone just made it up but its used quite frequently.....

Keep is correct. They can RD and there are several different scenarios for a potential outcome. They also desire to stay in good standing in trade. I believe there is a lot involved and of course not a single post which states they know a time date and rate is valid. It's unfortunate that speculation is all we can do. Yet, we should also look at as many facts as possible to conclude a reasonable outcome. Can they straight up RV or RI? Yes... It is a potential outcome if not extremely likely.

I have said this before but will revisit this notion for all to think about. If they choose to RV at say 3.00, what happens? Can they reasonably justify this rate? I think so. Yet, again what happens if they do? Do they lose anything in the exchange? This requires some thought on everyone's part... The exchange rate is even! They do not loose anything IF this rate is accepted as reasonable for trade. When the currency is traded back it has the same value on both sides. They already somewhat proved they can back it up.

My thinking is they will be lower to make more as a free float carries their currency upward. All is pure speculation on all of us.

I continue to hope for the best and quickest change.

Peace once again and I look forward to any thoughts in agreement or counter to my own.

[dontlop]

"The total revenue budget next year would be 143.31 trillion dinars, while the total expenditures will be 157.712 trillion dinars, in what would be the amount of the deficit 14.681 trillion dinars The deficit ratio of GDP Local is estimated at 4.9 percent, while the price of crude oil exported will be calculated at $ 90, what would be the production quantities of crude oil exported 3.5 million barrels, while the exchange rate of the dinar against the dollar was calculated at 1.16.

Read more: http://dinarvets.com/forums/index.php?/topic/154316-exchange-rate-of-the-dinar-against-the-dollar-116/#ixzz2Z5DoFR2d

it says the budget is 143.31 trillion dinars .. calculated at 1.16 dinar against the dollar .. they gonna be rich next year they are spending 143 trilion dollars just in the govt budget .. and i heard long ago they are working towards the govt budget only amounting to 20% of the gdp ..

oil is calculated at 90 dollars .. their gonna have to sell around 170 billion barrels of oil next year to cover that budget

they can do anything they want . they can put all the dinars and the reserves into a pile too .. and light them on fire ..and dance around the fire like 16th century  tribesmen from the far east .

[imgesing]

Donlop, don't believe every so called fact you read in terms of economics. For Iraq to dispose to everyone the pure truth would be economic suicide. Yet, if you read about development there ask yourself why so many hotels and businesses, let alone banks are scurrying to set up camp in Iraq?

We are not in the know... This is what you should be a bit confident about simply by reading the diversity in articles about any subject there. They are doing a great job at throwing us many monkey wrenches. This to me is exciting, because I speculate big things are coming...

[unirod]

The Central Bank of Iraq was established as Iraq's independent central bank by Central Bank of Iraq Law 2004 with authorised capital of 100 billion dinars.^[2]According to the law, 100% of the bank's capital stock shall be held by the State and is not transferable.^[3]

The Constitution of Iraq states that the central bank is a financially and administratively independent institution, responsible before the Council of Representatives of Iraq.^[4] According to the Constitution, the Federal government of Iraq has the "exclusive authority" of "establishing and administering a central bank

Dontlop,

This is very interesting and something I never considered. The GOI fired the CBI from administering monetary policy. Am I reading this correct? This would be the same action that our Congress USA would take if they fired the Fed Reserve Bank from managing the USD monetary policy. Is this a correct comparison?

[keepmwlknfny]

whats wrong with you you got to be drunk tonight .. the reserves belong to the iraqi govt and are only being managed by the cbi .. i dont understand why you would post that the reserves do not belong to the goi. its obvious whos selling oil and who owns the reserves . it is not the cbi ..it is the goi .. i dont think i posted the cbi is selling oil .. i do believe you got problems reading with understandingthis is way off topic here .. this topic is stating the 2014 budget is based on 1.16  exchange rate .. is that what you read ?

What you highlighted and what your going off of is insisting that the CBI is selling the oil......just trying to show you that the references your usingbare not giving you the whole answer.....

If the goi owns the reserves and can do what they please with them, why is it that they were begging for the CBI to have access to the reserves to spend? Lets dig into that a little.....

[Atheist]

Yes it is evident with some.....but obviously not the case with all by the statements they make! I am a real big person of positivity in lifr brlieve it or.not.....it actually annoys my girl at times....but with this speculation mybmind is so open that when i speak, people automatically think im being negative, and i just see it as being realistic....

If you are this "realistic" with your girlfriend, I am surprised she hasn't walked out the door. How many individuals are constantly asked why the hell they are in an investment? You get that all the time so maybe that should tell you something. I think I would kill over if you EVER said something positive.

whats wrong with you you got to be drunk tonight .. the reserves belong to the iraqi govt and are only being managed by the cbi .. i dont understand why you would post that the reserves do not belong to the goi. its obvious whos selling oil and who owns the reserves . it is not the cbi ..it is the goi .. i dont think i posted the cbi is selling oil .. i do believe you got problems reading with understanding

this is way off topic here ..

 

this topic is stating the 2014 budget is based on 1.16  exchange rate .. is that what you read ?

You can't argue with Keep because he is alright right. You could show him an article from Turki himself that said WE WILL NEVER LOP and then the exchange rate comes out at $3.32 and Keep would still argue it wasn't true.

[keepmwlknfny]

If you are this "realistic" with your girlfriend, I am surprised she hasn't walked out the door. How many individuals are constantly asked why the hell they are in an investment? You get that all the time so maybe that should tell you something. I think I would kill over if you EVER said something positive.

You can't argue with Keep because he is alright right. You could show him an article from Turki himself that said WE WILL NEVER LOP and then the exchange rate comes out at $3.32 and Keep would still argue it wasn't true.

Well so many are convinced this is a sure shot thing, and there is no way we could have been duped.....so hearing anything other then RV tomorrow really gets some people butt hurt....especially when all their "solid" information on why and how this is gonna work is shot down by logic and common sense.....

 

= )

I want to wrong a lot....that just means im learning....

[tennesseem]

YEA!!!!!   WHAT KEEP SAID!!!   LOL,   

[dontlop]

What you highlighted and what your going off of is insisting that the CBI is selling the oil.  no keepmlknfny you like to lie to  people so you can stick to  your speculations but your speculations got holes in them just like everyone elses ......just trying to show you that the references your usingbare not giving you the whole answer.....you dont show anyone any thing keepmlknfny you just ramble on like you have been doing for years

If the goi owns the reserves and can do what they please with them, i dont know keepmlknfny ...own a high powered rifle  can i do what i please with it ? why is it that they were begging for the CBI to have access to the reserves to spend? i dont see any begging going on keep .. i see the parliment wanting to invest the reserves  but theres laws that protect those reserves  Lets dig into that a little..... no ...you dig keep ..your the one that needs to do a little reasearch .

What you highlighted and what your going off of is insisting that the CBI is selling the oil......just trying to show you that the references your usingbare not giving you the whole answer.....

If the goi owns the reserves and can do what they please with them, why is it that they were begging for the CBI to have access to the reserves to spend? Lets dig into that a little.....

you must of been really drunk last night

[dontlop]

The Central Bank of Iraq was established as Iraq's independent central bank by Central Bank of Iraq Law 2004 with authorised capital of 100 billion dinars.^[2]According to the law, 100% of the bank's capital stock shall be held by the State and is not transferable.^[3]

The Constitution of Iraq states that the central bank is a financially and administratively independent institution, responsible before the Council of Representatives of Iraq.^[4] According to the Constitution, the Federal government of Iraq has the "exclusive authority" of "establishing and administering a central bank

 

Earlier this month, the Iraqi government fired Central Bank of Iraq (CBI) Governor Sinan al-Shabibi amid allegations of corruption, a move that is both a symptom and a consequence of increased corruption in Iraq and also a possible power grab by Iraqi Prime Minister Nuri al-Maliki,according to the report, published Tuesday by the Office of the Special Inspector General for Iraq Reconstruction.

 

  http://thecable.foreignpolicy.com/category/topic/corruption

 

 

 

 

 looks to me like the goi owns 100% of the stock in the cbi and its non transferrable ..

 

 

seeing how  the iraq govt fired shabibbi,, it does look that way .. like the goi owns the cbi lock stock and barrel

..

 

Dontlop,

This is very interesting and something I never considered. The GOI fired the CBI from administering monetary policy. Am I reading this correct? This would be the same action that our Congress USA would take if they fired the Fed Reserve Bank from managing the USD monetary policy. Is this a correct comparison?

it seems the goi fired  shabibbi ..

 

and it seems the cbi was established by 100 billion dinars .. and 100% of the cbi stock is to be held by the state and is non transferrable .. if they goi owns 100% of the stock .. it is nationalized .. not privatly owned

 

the federal reserve is privatly owned by share holders .. the cbi is 100% owned by the state ,, which to me is the goi .. ..

 

bernanke is a govt  appointee to over see  the fed .. just like shabb was a govt appointee to over see the cbi .. if shabbs wasnt a govt  appointee .. how could the govt fire him

 

 

 

its all  the govt , the cbi has laws that give it exclusive rights to manage the funds ...but they are responsible before the Council of Representatives of Iraq.^[  they cant do what ever they want ..if policy isnt  accepted by the goi . they can change the leadership till it is accepted

 

 

thats my opinion

Edited July 15, 2013 by dontlop