The central bank is required of private banks at the exchange rate of the dinar is specified

[dontlop]

How do we know it's not a typo

[gregp]

How do we know it's not a typo

Call and ask.

[dontlop]

Did ya ever wonder why Iraq backs its dinar 100%

I wonder if they knew it would just be a matter of time after USA left Iraq before the Ba'ath party would attack

Can you imagine the dinar value if it were in a free float on the forex the day Isis invaded and the story's came out that the soldiers threw away their weapons and ran away?

Just look at Kuwaitis dinar on the market when saddam invaded

Iraqs would of been way worse

They must of known this was inevitable and intelligence sources told them

So backing it keeps the dinar value stable so they can defend themselves

When the country is stable then maybe after a couple years they can rv and float their currency

With the Kurds threatening the Iraqi govt along with the Sunnis harboring terrorists ya might think about putting this rv thing way in the future

I don't think the Arabs are going to give the Kurds their oil

That's not going to happen

I think it would be a good idea to have a two party government oil system in Iraq

Maybe they can monitor each other to stop the corruption

The central govt can monitor the Kurds and the Kurds can monitor the central govts

Two seperate oil bank accounts is probably the best solution

But not with closed books

They can keep corruption down by watching each other

[djgabrielie]

No, you do not see a 50 pips increase. What you see is a misprint of 1116 and a poorly written article to boot!

 

REF: Currency Auctions:

 

2751/2752 24-Aug    1,212    1,166    309,143    92,005    217,138

 

http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf

 

[dontlop]

If the Kurds got their hands on trillions of dollars worth of oil they could finance wars

They could take over parts of Syria , turkey , and Iran

That's why none of those country's want the Kurds to have their own country

It would just be matter if time before they got to their country one at a time

It would be hard to stop 25 million Kurds that are willing to die for that cause

So I believe if the Kurds push and end up in a war over claiming their own country their oil pipeline would be shut down in turkey their borders would be shut down

And the Kurds only ally would be isis Sunni counterparts

Or just give up that idea

[dontlop]

Let's see if the Kurds broke away

They then have trillions of dollars in assets

They then become a sovereign nation

They then can buy jets they can buy missles, tanks what ever

How hard would it be to take over the areas in those neighboring country's

It wouldn't happen but a lot of people would be killed trying

It wouldn't happen over night but over 30 or 40 years with arms build ups

It could get pretty ugly over there

Or they can all just move to Iraq sell off their assets in Syria Iran and turkey and bring that wealth with them

But first they got to get the Arabs to give up trillions of dollars in oil to them

[Boozer]

www.cbi.iq    showing  1166

[jeepguy]

give  it    2  weeks  -------  and  then  we  will know  what is what ------  >    oh oh  3.oo  per  dinar    

[yota691]

Central Bank calls for banks to adhere to, regardless of the Iraqi dinar at the official rate

23/08/2014 09:38 | Number of readings: 1957

Font Size:  

 

 BAGHDAD / Source News / .. called the Iraqi Central Bank and private banks to adhere to the special mechanisms of the Iraqi dinar exchange price set by the central bank.

A statement by the Central Bank seen by Agency / Source News / "The central bank is required of all private banks at the exchange rate of the dinar selected by him."

He added that "the banks to adhere to this pledge uncles to ensure market stability and liquidity in the money markets."

The central bank sets the exchange rate of the Iraqi dinar to the dollar by 1116danara George Aluahd.anthy / 19 p

[blueskyline]

So my question is ......If the official rate is 1166 . Is the CBI saying to ahere to what rate they give private banks regardless of what the official rate of 1166 is . This reads like some sort of smoke screen to me . You private banks follow what rate I give you regardless of what rate (1166) we post?

[dontlop]

They buy the dinar for 1166 from the central bank then lose money on every exchange selling them at 1116 until they are broke

12 dinar equals just over a penny

So

1166

-1116

________

50 dinar loss on every dollar exchanged

Or around 4% loss on every dollar ?

[blueskyline]

Thank you

[chinadawg]

who knows, maybe 2 sets of books.

 

1-real

1-cooked

[gregp]

It sounds like they are going to drive up the rate.

[Hawaii 50]

Maybe we might see this # In the coming days!