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Economics Committee: Iraqi dinar will see its price improvement against the dollar in the coming period

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Economics Committee: Iraqi dinar will see its price improvement against the dollar in the coming period 

 

 Most likely a member of the Committee on the economy and investment MP Jassem Mohammed شنكالي, improved exchange rate of the Iraqi dinar against the U.S. dollar in the coming period after taking the necessary measures by the central bank to strengthen it.  The شنكالي said that "the Iraqi economy is strong and the dinar is covered with a large reserve of hard currency and this is what will give him strength and makes it immune from global economic shocks."  He added that "the new measures adopted by the central bank will support the stability of the dinar exchange rate and make better value against the dollar in the coming period."  He pointed out that "retreat that took place at the exchange rate of the dinar during the last period came as a result of the existence of mafias manipulated and dominated the central bank auction and seized the hard currency." 

 

 

http://translate.google.ca/translate?hl=en&sl=ar&u=http://www.radiodijla.com/cgi-bin/news/news_item.pl%3Fid%3D2013-08-08%252011:23:05&prev=/search%3Fq%3Dhttp://www.radiodijla.com/cgi-bin/news/news_item.pl%253Fid%253D2013-08-08%25252011:23:05%26biw%3D1088%26bih%3D479

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"retreat that took place at the exchange rate of the dinar during the last period came as a result of the existence of mafias manipulated and dominated the central bank auction and seized the hard currency."

 
More smokes and mirrors folks.  No one seizes hard currency without a fight, period!  There is an equal exchange during the process for the daily value.  In other words, I give you Dollars and you give me Dinars or what ever the currency is being exchanged.  No mention of counterfeiting here so I call his bluff.  Maliki and his entourage said that there would be a fruitful event during their celebratory period.  If not, then more lies from him.  JMMHO.  GLTA and Go RV.
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Key questions here: When is "the coming period" and how long is it? Is the CBI on board?

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Seriously, why would anyone here "neg" someone for posting information? DC, I evened you out...not implying you're concerned about the "neg" or "pluse" game here.

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"retreat that took place at the exchange rate of the dinar during the last period came as a result of the existence of mafias manipulated and dominated the central bank auction and seized the hard currency."

 

More smokes and mirrors folks.  No one seizes hard currency without a fight, period!  There is an equal exchange during the process for the daily value.  In other words, I give you Dollars and you give me Dinars or what ever the currency is being exchanged.  No mention of counterfeiting here so I call his bluff.  Maliki and his entourage said that there would be a fruitful event during their celebratory period.  If not, then more lies from him.  JMMHO.  GLTA and Go RV.

their talking about the market rate being high around 1300, because of the manipulation by vendors taking advantage of the spread. Also people were getting a lot more dollars out of the auctions and other windows, that shouldn't have been allowed.
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They set limits for the amount of dollars one person or entity can get per day. That's the manipulation being referred to

And when the dollar supply is down, they are able to charge more to get dollars, thusly the 1300

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their talking about the market rate being high around 1300, because of the manipulation by vendors taking advantage of the spread. Also people were getting a lot more dollars out of the auctions and other windows, that shouldn't have been allowed.

I see.  Got it!  There's always going to be manipulation with spreads unless there is a lot of competition.  Sounds like a monopoly here.  I'm willing to bet that all the windows are owned by the same entity, mascaraded of course.  Thanks for the clarification.  GLTY and All.  Go RV.

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I would refer to a post Yota and Tbomb posted, it gives you an idea as how the CBI is dealing with this now, Central Bank supports electronic control system with the border crossing points


Read more: http://dinarvets.com/forums/index.php?/topic/157058-central-bank-supports-electronic-control-system-with-the-border-crossing-points/#ixzz2bV4kcr8g

 

Great read and I might add it appears the tariffs are up and running in conjunction with putting a kabosh on the money changing and laundering going on at the border.  Not only that they are hooked up electronically from their border ports to the bank.  They system appears to be up and running.

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Zig, remember how when we first saw news of the tariff's being approved and how the law and related articles stated that they would be implementing the tariff's gradually over a three year period?...because the "Central Bank supports electronic control system with the border crossing points" article was first published in June, I would surmise they've been testing this the past two months. 

I'm wondering...and people please don't bash me, I'm just trying to open this up for discussion..., if based on this post "After its release from the penalties. Anatolia: Iraq looks to foreign investments by $ 32 billion" in the same thread you reference, if the CBI is going to (also) slowly rise the value of the IQD as a test?

 

 

 

 

 

 

 

 

http://dinarvets.com/forums/index.php?/topic/157058-central-bank-supports-electronic-control-system-with-the-border-crossing-points/

Edited by TBomb
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I would refer to a post Yota and Tbomb posted, it gives you an idea as how the CBI is dealing with this now, Central Bank supports electronic control system with the border crossing points

Read more: http://dinarvets.com/forums/index.php?/topic/157058-central-bank-supports-electronic-control-system-with-the-border-crossing-points/#ixzz2bV4kcr8

Great read and I might add it appears the tariffs are up and running in conjunction with putting a kabosh on the money changing and laundering going on at the border.  Not only that they are hooked up electronically from their border ports to the bank.  They system appears to be up and running.

Just read it.  Thanks.  I would have to speculate that this will continue, on a smaller scale until they find more loopholes, since now with the use of remittances, they will be skimming from the bottom and not necessarily from the top.  Just another way to profit from the simple folks and keep the Dinar out of range from the CBI.  In other words, for every 1300, there should be 144 Dinars that are used for spreading.  Now that they are tied in electronically and there is a "Remittance" charge, at least, in their minds, they get a chunk of the 144 and figure out the loopholes to keep on spreading high later.  JMO Zig.  Thanks for the info.  GLTY and All.  Go RV.

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I think we read this same story ever 2 months.. Just do it shut the ( BLEEP ) up    :mad:

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Key questions here: When is "the coming period" and how long is it? Is the CBI on board?

It depends, some are only a couple days, some are unlucky and have them for a bit over a week. And the most expensive ones are the ones that take a 9 month hiatus before happening again. Those breaks mean a lifetime of expenses. Like college and weddings.

Edited by idplzr
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I think we read this same story ever 2 months.. Just do it shut the ( BLEEP ) up    :mad:

I know what your mean, and I always thought the coming period was 28 days, 30 max!!

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Islam uses the uses Lunar calender.

So a month is about 28 days. It takes lots of fudging to sync a lunar calendar with the solar year, no wonder they invented algebra.

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