Experts: Iraqi dinar's peg to a basket of foreign currencies enhances the diversification of the economy of the country

[amberamin]

Experts: Iraqi dinar's peg to a basket of foreign currencies enhances the diversification of the economy of the country

 

 

 

Called on the Finance Committee and an expert in economic affairs the central bank to the need to activate the financial trading by linking the Iraqi dinar to a basket of foreign currencies and not rely mainly on the U.S. dollar to build a diversified economy and a flexible retractable face of economic crises present and future. Said a member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri The the main currency in the country is among the dinar offset by the U.S. dollar, which is considered the base currency in the trading process locally and globally because of its economic power on the most influential countries in the world ». He added that «having a basket of multiple foreign currencies greatly help to ensure resilient economy can cope with financial crises and their impact on the dinar National, where he owns a currency trading many advantages, including maintaining the rate of real exchange in the face of financial shocks and the decline in the value of the currency and avoid any exaggeration in the rate of exchange as well as the relative stability of the exchange rate of the currency, as the rise in the value of a particular currency in the basket means lower other currencies for that currency and vice »Yasiri that« the general acceptance and how widespread the circulation of the U.S. dollar put data by which dispense with the other currencies such as the Japanese yen and the euro European and other, which helped on their laurels citizen in a single currency more assurance than others ». confirmed Yasiri that« the central bank bears the responsibility of turning financial dealings of the monopoly of a particular currency for the stock market to the entry of foreign currencies competition through the activation of its own laws and the Order for more than 5 different currencies representing the states leading economic and economically strong »and pointed to« the necessity of diversifying reserve national from various world currencies in addition to the coins of other private gold to support the Iraqi dinar and increase Rsanth financial and reflected significantly on the level of improvement in the economy of the country »He pointed out that« the exchange rate in any state depends on the balance of payments which arise from factors affecting the presentation of the national currency and the demand for them, any surplus in the balance of payments of the state leads to increased demand for the national currency, which leads to higher disbursement versus other foreign currencies and vice versa ». turn the economic expert Abbas Bahadli that» choose Other currencies represent a basket of global economic must be on the basis of serving the national economy and the movement of trade and mutual investment with countries with an economy strong financial, and considers this step to enhance the value of the Iraqi dinar, and reduce the potential risks to the local currency as opposed to linking them in a single currency as dollar ». added that« increase and diversify foreign currency and use it as a reserve pick it economically by the Central Bank of Iraq represents the addition of monetary policy and help to enhance the value of the dinar by increasing dealing with other countries »                                                                                   http://translate.google.com/translate?hl=en&sl=ar&u=http://www.al-nhar.com/index.php%3Faa%3Dnews%26id22%3D31738&prev=/search%3Fq%3D%25D8%25B9%25D9%2585%25D9%2584%25D8%25A9%26lr%3D%26cr%3DcountryIQ%26hl%3Den%26tbs%3Dqdr:d,ctr:countryIQ

[jeepguy]

baaaaaa- hummmm  bug !    I guess that is why  Kuwait  has  so many different currencies , running through its  banks .... { I do not know if they do  , but  if they did ,  why did  they just  print and release  brand new currency notes ? }   back to my point ,  this is  just an editorial piece ,   they can `t   do   economics  on  a lot of  different currencies ,  and  have  the dinar  worth nothing,  --------  they first need the  dinar  up too the dollar  , just  to entice the other  currencies  to come into  play  { just my  opinion }  

[R Veyron]

That's right, disassociate from the dollar and look to your neighbors in the region to help determine the value of your currency. Kick those radical bums out of your country, send Malaki on an extended vacation and then pull the trigger on the RV. Now get to work. 

[gregp]

What a great article. It makes me want to look in the DV archives, and read the other 1,000 "increase the value" articles. Although, he did mention the word "stock market".

Thanks.

[WheresmyRV?]

Stop talking about and do it! 

[sandfly]

THANKS GET IT GOING MOVE THE DINAR

[dontlop]

I think this says it all

It's not a button to push

Its policy

He pointed out that« the exchange rate in any state depends on the balance of payments which arise from factors affecting the presentation of the national currency and the demand for them, any surplus in the balance of payments of the state leads to increased demand for the national currency, which leads to higher disbursement versus other foreign currencies and vice versa

Read more: http://dinarvets.com/forums/index.php?/topic/181582-experts-iraqi-dinars-peg-to-a-basket-of-foreign-currencies-enhances-the-diversification-of-the-economy-of-the-country/#ixzz36JctMvdH

Thanks yota

Debt to GDP

Balance of payments

External debt

Of your dinar

Local debt is nothing

Ya can't be In debt to yourself

Ya just restructure your payments

Your in debt 5% of your GDP

Ya print out 5% more currency

And devalue your dinar 5% and call it inflation

Here's a chart of Iraqs balance of payments

http://knoema.com/atlas/Iraq/topics/Economy/Balance-of-Payments-Reserves/Total-reserves-includes-gold-current-USdollar

There is no need for Iraq to be printing up dinar because they can't back their currency as you can see

Just go to the cbi

Under statistics and look up the current Account number

A positive number is a surplus

A negative number is a deficit

Here's the link to the chart at the cbi

Scroll down in left hand column

Till you see ,,,, ID current account

http://www.cbi.iq/documents/key%20financial.xls

Edited July 2, 2014 by dontlop

[DinarThug]

CNN. Broadcasting While Attaching A Basket To The Handlebars Of My Clown Tricycle !

 

 

 

2 July 2014

Experts: Iraqi dinar's peg to a basket of foreign currencies enhances the diversification of the economy of the country

Called on the Finance Committee and an expert in economic affairs the central bank to the need to activate the financial trading by linking the Iraqi dinar to a basket of foreign currencies and not rely mainly on the U.S. dollar to build a diversified economy and a flexible retractable face of economic crises present and future. 

Said a member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri The the main currency in the country is among the dinar offset by the U.S. dollar, which is considered the base currency in the trading process locally and globally because of its economic power on the most influential countries in the world ». 

He added that «having a basket of multiple foreign currencies greatly help to ensure resilient economy can cope with financial crises and their impact on the dinar National, where he owns a currency trading many advantages, including maintaining the rate of real exchange in the face of financial shocks and the decline in the value of the currency and avoid any exaggeration in the rate of exchange as well as the relative stability of the exchange rate of the currency, as the rise in the value of a particular currency in the basket means lower other currencies for that currency and vice »Yasiri that« the general acceptance and how widespread the circulation of the U.S. dollar put data by which dispense with the other currencies such as the Japanese yen and the euro European and other, which helped on their laurels citizen in a single currency more assurance than others ».

Confirmed Yasiri that« the central bank bears the responsibility of turning financial dealings of the monopoly of a particular currency for the stock market to the entry of foreign currencies competition through the activation of its own laws and the Order for more than 5 different currencies representing the states leading economic and economically strong »and pointed to« the necessity of diversifying reserve national from various world currencies in addition to the coins of other private gold to support the Iraqi dinar and increase Rsanth financial and reflected significantly on the level of improvement in the economy of the country.

He pointed out that« the exchange rate in any state depends on the balance of payments which arise from factors affecting the presentation of the national currency and the demand for them, any surplus in the balance of payments of the state leads to increased demand for the national currency, which leads to higher disbursement versus other foreign currencies and vice versa ». 

Turn the economic expert Abbas Bahadli that» choose Other currencies represent a basket of global economic must be on the basis of serving the national economy and the movement of trade and mutual investment with countries with an economy strong financial, and considers this step to enhance the value of the Iraqi dinar, and reduce the potential risks to the local currency as opposed to linking them in a single currency as dollar ». 

added that« increase and diversify foreign currency and use it as a reserve pick it economically by the Central Bank of Iraq represents the addition of monetary policy and help to enhance the value of the dinar by increasing dealing with other countries.

http://translate.google.com/translate?hl=en&sl=ar&u=http://www.al-nhar.com/index.php%3Faa%3Dnews%26id22%3D31738&prev=/search%3Fq%3D%25D8%25B9%25D9%2585%25D9%2584%25D8%25A9%26lr%3D%26cr%3DcountryIQ%26hl%3Den%26tbs%3

[ezrapound]

Hmmmmmm...!

[Nelg]

Basket of currency always causes a picture in my mind of an "easter basket" full of colored eggs.  If only someone would disclose the content of the eggs, it would be easier to choose the "egg" to pick from the basket.  Some reveal their content as equal to the others: they are just the same.  However, there are "eggs" that contain cash when you open them.  The trick is "guessing" and selecting that "egg."

[calkid11]

Thank you

[amberamin]

Thanks dontlop for the explanation.

[Boozer]

Thanks