why has the CBI kept the exchange rate at 1166 to 1

[dontlop]

There ya go ewingm

You want this to be a topic of discussion

Here it is

[dontlop]

Here's the dollar index

The dollar index DXY, -0.06% , which measures the strength of the dollar against a basket of other currencies, traded at 81.876 on Tuesday, up from 81.572 late Monday.

It's pegged to the dollar

But who knows why

They have to have a rate

It can't just be anything

And they must keep it stablized for credit

The IMF explains why but your not interested in that

Here's what the IMF says

iraq uses a program rate .... to exchange dinars for dollars

II. DEFINITIONS

3. For purposes of monitoring under the program, a program exchange rate will be

used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program

exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign

assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities

denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be

converted in U.S. dollars at their respective SDR-exchange rates prevailing as of

December 31, 2010, as published on the IMF’s website.

.. it talks about its defacto peg ...

IX. Exchange rate arrangement:

The Central Bank of Iraq has been conducting foreign exchange auction on a daily basis

since October 4, 2003. The central bank followed a policy of exchange rate stability which

has translated in a de facto peg of the exchange rate since early 2004. However, from

November 2006 until end 2008, the CBI allowed the exchange rate to gradually appreciate.

As a result, the exchange rate arrangement of Iraq was reclassified to the category of

crawling peg effective November 1, 2006. Since the start of 2009, the CBI returned to its

earlier policy of maintaining a stable dinar. Consequently, the exchange rate arrangement of

Iraq was reclassified effective January 1 2009 as a stabilized arrangement.

page 10 >>> B. Monetary and Exchange Rate Policy

14. The authorities remain committed to ensuring the independence of the CBI. A

ruling by Iraq’s Federal Supreme Court also noted that while the CBI is part of the country’s

executive apparatus, it is by law independent in its decisions and operations.

here on page 14 .. they mention the real exchange rate ..

so they talk about the defacto peg , and the real exchange rate , A de facto standard is a standard (formal or informal) that has achieved a dominant position, by tradition, enforcement, or market dominance. It has not necessarily received formal approval by way of a standardization process, and may not have an official standards document.

24. Staff supports the CBI’s policy of managing the exchange rate of the Iraqi dinar

to keep inflation low. A stable exchange rate continues to provide a solid anchor for the

public’s expectations in an otherwise highly uncertain environment. Over time, rising oil

revenues could put upward pressure on the real exchange rate, which would warrant allowing

greater exchange rate flexibility. Staff also welcomes the authorities’ continued commitment

to safeguard the independence of the CBI, which is critical for maintaining confidence in the

Iraqi dinar.

In sure ewingm will need to wait till the topic dies down and off the new topics screen

So no one is here when he turns the thread into a dontlop thread

He couldn't debate a dead chunk of road kill and win

Edited August 21, 2014 by dontlop

[new york kevin]

The rate is the rate for policy reasons as your info has stated. The rate is what it is also so that Iraq can be like post WW II Germany and Japan and rebuild their infrastructure and their economy on the cheap. Look how these countries have fared, each have their own anchor in the economies of the world, and can even compete with the mighty USA macro economically. Look at China they are doing equally as good, having followed a similar economic model as they keep their currency artificially low. Watch out inflation wise if they ever allow their currency to sit at a accurate reflective rate.

[dontlop]

Very good analysis

[dontlop]

Ewing what happened ?

You have no clue do ya ?

Yet you condemn and ridicule everyone who ever bought dinar behind your computer in your mommys basement

[dinarbeleiver]

The rate is the rate for policy reasons as your info has stated. The rate is what it is also so that Iraq can be like post WW II Germany and Japan and rebuild their infrastructure and their economy on the cheap. Look how these countries have fared, each have their own anchor in the economies of the world, and can even compete with the mighty USA macro economically. Look at China they are doing equally as good, having followed a similar economic model as they keep their currency artificially low. Watch out inflation wise if they ever allow their currency to sit at a accurate reflective rate.

brilliant analysis and spot on.! Marshall plan and monetary policy!

[new york kevin]

brilliant analysis and spot on.! Marshall plan and monetary policy!

Wow. Thank you.

[ewingm]

You boys are too much!  Don't break your arm patting each other on the back for your incredible insight into the 1166 peg!  Lemmings.  That's my point here.  The CBI has kept the 1166 peg for seven years precisely because the country's economy and stability sucks.  So with that in mind, why do all you koolaide kids salivate and drool all over yourselves every day over guru spin.

GOOORVVVV!!!!!  Its strange to me, that you dinarians can articulate what it will take in-country to get off the 1166 peg, but you are still caught up in the hype of 100,000% RV, regardless of circumstances preventing such an event.  Its like you all are two-sided.  A logical, intelligent side, and a crazy, delusional, whacked out side that believes anything a guru says.  You boys need to drop the coocoo side of this and return to fiscal reality.  The iraqi dinar will NEVER Do a 100,000%  overnight RV.  NEVER.  So get back to the land of the SANE.

[dontlop]

Who mentioned a hundred thousand percent rv besides you ewingm ?

You added nothing

You need better intel than that ewingm

Come on the topic is the exchange rate not people

You can't stay on the topic you asked for

You want to change the topic to a hundred thousand % rv

You really should be banned

All you do is turn anything anyone says into a personal attack game

You don't actually have any dinar knowledge

[dinarbeleiver]

Ewingm read this

http://web.wm.edu/so/monitor/issues/18-2/1-bell.pdf

Who mentioned a hundred thousand percent rv besides you ewingm ?You added nothingYou need better intel than that ewingmCome on the topic is the exchange rate not peopleYou can't stay on the topic you asked forYou want to change the topic to a hundred thousand % rvYou really should be bannedAll you do is turn anything anyone says into a personal attack gameYou don't actually have any dinar knowledge

ewingm will shoot herself in the foot soon- like the rest of the lopsters!

[rockfl9]

Until Iraq pays off the IMF loan it will be monitored semiannually by the IMF. 1166 is the monitored rate. Any change needs IMF  approval. A first payment was due this year, I think.  

[gymrat76541]

You boys are too much!  Don't break your arm patting each other on the back for your incredible insight into the 1166 peg!  Lemmings.  That's my point here.  The CBI has kept the 1166 peg for seven years precisely because the country's economy and stability sucks.  So with that in mind, why do all you koolaide kids salivate and drool all over yourselves every day over guru spin.

GOOORVVVV!!!!!  Its strange to me, that you dinarians can articulate what it will take in-country to get off the 1166 peg, but you are still caught up in the hype of 100,000% RV, regardless of circumstances preventing such an event.  Its like you all are two-sided.  A logical, intelligent side, and a crazy, delusional, whacked out side that believes anything a guru says.  You boys need to drop the coocoo side of this and return to fiscal reality.  The iraqi dinar will NEVER Do a 100,000%  overnight RV.  NEVER.  So get back to the land of the SANE.

So, the question is: Why are you on this site????????????? 

 

I do not believe in ghost, but you will not see me joining a site made for people who do!

[new york kevin]

So, the question is: Why are you on this site????????????? 

 

I do not believe in ghost, but you will not see me joining a site made for people who do!

 

Ewing is just jealious. He's just trying to claim that his magnifying glass lets ya see the true size of thing.

[ewingm]

Well, Kevin, after seven straight years of guru spin, hyper-salivating glassy-eyed dinarians shouting GOOORVVVV, at every twitch that comes out of the sandbox, I would THINK that any sane human would give this speculation another look.  And when you step out of the brainwash box, you would sell your dinars back to the sleazy website dealers you bought them from, and move on to your next scam.  It is a scam, you do know that don't you?  If you're still living in the 100,000% overnight millionaire making delusion, then there's no more to talk about.  Just march on off the cliff with the rest of the lemmings.  Gooooooo1166 to 1.

[dontlop]

Ewingm was pumping dinar yesterday

Today he realizes central banks don't pre anounce increases or decreases in their exchange rates

Its a good thing ewingm couldn't buy dinar in seconds on the forex yesterday after ewingm announced the central banks statement of raising the value of the dinar to 1116

He would be holdin da ton of dinar this morning saying what do ya mean a typo

I want my money back

They would of told him sure that will be 100 dollars per million fee

[dontlop]

https://m.youtube.com/watch?v=-6_kRAZXyu0

[ewingm]

The day I start pumping iraqi dinar is the day someone needs to put a 44-40 through my brainpan.  The article upstairs in Iraq News talks about reduciing the number of BILLS from 4 billion to 1 billion.  Let's see.............I wonder how you do that.............oh, I know.  You do a three zero lop Redenomination.  Now when you turn in your 500, 200, 100 dinar bills, you get COINS instead.  That's how.  We call that a three zero LOP redenomination with a reduction in BILLS, which is what the CBI and FO have been saying all along.   And that is seriously BAD news for the koolaide kids.  Sorry about that.  

[dontlop]

Your a pumper

We know your game

You rail against the dinar on a dinar web site to insight others to argue with you and in using reverse phycology you pump the dinar every day by getting others to talk about the dinar

You got to remember this isn't a baseball web site it's a dinar web site and where are you every day

Stiring up dinar chat

Oh by the way

Edited August 24, 2014 by dontlop

[Shelley]

You boys are too much!  Don't break your arm patting each other on the back for your incredible insight into the 1166 peg!  Lemmings.  That's my point here.  The CBI has kept the 1166 peg for seven years precisely because the country's economy and stability sucks.  So with that in mind, why do all you koolaide kids salivate and drool all over yourselves every day over guru spin.

GOOORVVVV!!!!!  Its strange to me, that you dinarians can articulate what it will take in-country to get off the 1166 peg, but you are still caught up in the hype of 100,000% RV, regardless of circumstances preventing such an event.  Its like you all are two-sided.  A logical, intelligent side, and a crazy, delusional, whacked out side that believes anything a guru says.  You boys need to drop the coocoo side of this and return to fiscal reality.  The iraqi dinar will NEVER Do a 100,000%  overnight RV.  NEVER.  So get back to the land of the SANE.

It has been pegged at 1166 for three years not seven .

[dontlop]

He's a wierdo

It took quite awhile to get him from ten years to seven years

I don't know what he's talking about , drooling and salivating , he can't see what any one is doing , but his vision is drooling and salivating

He is just a liar too

I don't know who he's talking to about being caught up in guru hype of a 100,000% rv

We tell him every day that he's crazy , but he still says the same thing over and over every day like that boomer guy that got booted out banned just before ewingm showed up again with his lies

Ewingm has demonstrated over and over that he has absolutly no life at all

He sits and watchs dinarvets all day every day

Think about it

He doesn't do anything else

[ewingm]

Well, I seem to be replying to you alot dontlop, so there must be someone besides me on dinarvets alot, and that would be YOU!   And to Shelley, you're probably right about the 1166 number only being 3-4 years.  Before that it was even more useless.  I've never seen so many deluded people get so excited over nothing.  Absolutely nothing.  It hasn't done one money-making thing for any of you since you drank the koolaide and became brain dead.  It is a completely LOSING financial scheme.  But for the gullible, it must be exciting just to sit around and talk about all the possibilities of being rich.  Of course that's all you can do is talk, because the dinar will NEVER do what you dreaming for.  Dreamers and lemmings.  GOOOORVVVVVVVV!

[dontlop]

I don't see anyone who's excited ewingm

You have a wild imagination

[dontlop]

Ya know if ya had something else to keep ya busy you wouldn't even think about this any more

Why don't cha start up a web site for people to talk and learn about the us debt

Millions of people look up those search words every day because they are interested

We the people together may be able to figure this mess out and do something about it if we had a place to go chat every day

[dontlop]

Do something ewingm

Do something

Save us

Save us

AHaaaaaaaaaaaaaaaaAh!

Help!

Help us ewingm!

Were drooling and salivating in excitement

Save us !

[ewingm]

If I left the forum, what would you do with yourself, dontlop?  We've whomped every other dinarian who dares enter the pot.  All the jello drinkers now stay up in the lala forum.mmThey know better than to debate us because the dinarian has no answer to any of our questions.  They live on dreams, not facts.  There hasn't been one good fact to back up the RV hype. Not one.  Just pure hysteria by gullible people.  And yes, they are all still believing in the big 100,000% RV.  Just like you, dontlop.  You are still one of the lemmimgs.