CBI issues new instructions to stabilize Dinar

[vomer]

No link provided

 

The Economic Committee of the Parliament described the efforts of the Central Bank of Iraq to maintain the value of the Iraqi Dinars as ' failed '. It should be noted that recently the central bank of Iraq has pledged to the nation that the Organization will take care of the Iraqi dinars and will take the steps necessary to make it stable so that a sustainable economy is applicable throughout the country.

 

Mahma Khalil stated, "the central bank demands to maintain the exchange rate of the Iraqi dinars, and specify a fixed price against foreign currencies, because it is not plausible that there are about sovereign Iraq seventy billion dollars, and it remains the Iraqi dinars more than 1200 mm dinars to the dollar, and sometimes bring these prices in the market."

 

He added that the "policy of the central bank failed to maintain the exchange rate of the Iraqi dinars compared to a group of foreign currencies."

 

Khalil explained that the IQD exchange rate against USD depending on a few things. This depends on foreign reverses and together with a few other factors. He pointed out that it is a good thing that Iraq has discharged all the UN restrictions and this is a step forward towards economic success in Iraq in the immediate future. It should be noted that after the increase of the restrictions, the IRQ VALUE compared to the USD had fallen significantly. This is why Mr. Khalil is of the opinion that it is the right time to take the right steps to calm the currency exchange rate of the country.

 

"What's disturbing dollars today deposits is not the actual size of the needs of the Iraqi market," he stated.

Observers and economists believe that the presence of increased buying of dollars has led to a significant fall in the price of dinars, and the nature of most of the smuggling will offer daily Bank dollars abroad.

 

The Central Bank of Iraq announced just before new measures that it would restrict the availability of U.S. currency in a market where the demand to buy them, amid suspicion suggested smuggling a large amount of hard currency for the benefit of neighbouring countries.

 

The Central Bank of Iraq has issued new instructions to stabilize Iraqi dinars exchange rate against foreign currencies select weekly interest for banks and money transfer companies.

 

 

 

 

[Bunk]

 All that money in the bank though  most people are without vital necessities..

 

 Hopefully    the People will get a better quality of life ..

[caz1104]

 All that money in the bank though  most people are without vital necessities..

 

 Hopefully    the People will get a better quality of life ..

Good luck with that ever happening.................but I like your positive way of thinking!

[SocalDinar]

Thanks Vomer.

 

All this talk and yet the market rate today is the best its been since last November.   market rate today is 1204

[bluejay]

Talk,Talk,Talk,Talk,Talk,Talk,Talk,Talk,Talk,Talk,Talk,Talk,Talk,Talk......Enough....Time to DOOOOOOOOOOOOOOO!!!!!! Something....Anything, sing, draw a bunny, dig a hole.....Anything but TALK... The poor people of Iraq....And the US as well...Government-STINK....

 

Sorry to be neg. I know I will get slammed because there are some positive things in this article, and I'm glad to see it, but come on... Thanks for posting...

 

Have a great weekend everyone.. 

[Tripphood]

Shouldn't neg the messenger just for bringing an article but on the other hand, negging an individual for a jacked up point of view is PERFECTLY acceptable

[Artitech]

where did this info come from?

[RVWITHME]

So now the "Rackies" are egging-on the U.S. to hit Syria cause it would be good for Iraq economy?

Sheesh... What's next?

 

Syria war will raise oil prices and financial abundance will be achieved, says Iraq Finance Committee MemberPosted: August 29, 2013 in Iraqi Dinar/Politics
Tags: Baadal, Egypt, Iraq, middle east, Suez Canal, Syria, Tartus, United States

29/08/2013

BAGHDAD / JD / .. Confirmed the Finance Committee in the House of Representatives that all projects mortgaged plenty of Finance will be realized if the price of oil as a result of the war in Syria.

said a member of the Finance Committee parliamentary MP Najiba Najib Ibrahim told / JD / day: that all projects and issues mortgaged plenty of Finance for the current year can be implemented in the event of oil rose Baadal broke out war in Syria.

said Najib that the abundance of financial realized by two factors are increasing the price of oil or the arrival of oil production as planned to 3 million barrels per day, noting that the production did not reach this rate, causing delays in project implementation.

The economic analyst has confirmed that a military strike expected on Syria will affect Iraq positively and negatively at the same time in terms of increased oil prices and export capacity.

said Executive Director of the Stock Exchange Global in Iraq Saif Ghanimi in an earlier statement / JD / that the crisis in the Middle East has begun Since the events of Egypt during the current month, which affected much on oil prices, noting that such a crisis impacted negatively on the surrounding countries due to the difficulty of transportation to and from the Suez Canal.

and continued the strike expected from the United States on Syria will affect heavily on neighboring countries, including Iraq negatively and offere, explaining that the positive side of this question is to increase the prices of oil and this Miaud benefit Iraq and the budget being depends primarily on oil in the preparation, noting that the negative side of this issue is that the price of oil transportation will increase dramatically because the insurance companies imposed additional taxes, arguing that the Iraq of the worst countries that can convey including oil because the ports far and Iraq spent a lot of money on oil, whether it moves across the Turkish port of Ceyhan, or through the port of Tartus in Syria weighted for a military strike global

[zigmeister]

Thanks Vomer.

 

All this talk and yet the market rate today is the best its been since last November.   market rate today is 1204

It is, so CBI is doing their job, however the populace want to see it at a far better rate than that.  Of course we would prefer it's supposed fixed rate higher.  It would seem to me they bring the fixed rate would bring the 1204 up to higher standards in the market which would appease the critics.

[sandfly]

SOON

[TotalNewb]

Heard it all before over the past few months. Not so sure anymore about this investment.