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Parliament holds "" budget responsibility rising dollar and banker errors confirms: dollar exchange rate stood at 1,260 dinars


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Petrodollars cause big problems between the government and the oil-producing provinces

 

Author: BS, MK 
Editor: BK, BS 02/02/2015 five seventeen p.m. number of readings: 52 

 

Long-Presse / Baghdad

Counting a member of the Economic Commission parliamentary, on Monday, that the current high price of the dollar against the dinar, "temporary," although it did not happen under even worse than that the country is undergoing political and security conditions, criticizing the financial budget law for the contents of paragraphs "is sound and other raises questions, "while banker attributed this rise to the central bank to reduce its sales for the half of it, and citizens rush to buy it.

Long-Presse correspondents in Baghdad and the provinces noted that the price of the dollar against the Iraqi dinar rose again on Monday, from 1250 to 1260 Iraqi dinars.

The MP said Ali al-Maliki, in an interview to the (long-Presse), "The rise experienced by the dollar in the local market did not happen for a long time and under much worse than those that are currently taking place in the country's political and security situation," noting that "it was expected to be dollar exchange rate will be reduced to approximately 200 thousand dinars, only instead of rising. "

And saw a member of the parliamentary Economic Committee, that "some of the paragraphs of the general budget for the current 2015, a source of wonder, and other improper and ambiguous," expected to "return the dinar exchange rate against the dollar to normal after a month from now."

For his part, attributed the banking office that the cause of increasing the dollar's exchange rate against the dollar is the decisions chest Iraqi Central Bank to reduce the quantities sold of the dollar.

The owner of the office, Ali Saad, said in an interview to the (long-Presse), "The dollar exchange rate began to rise suddenly even now 1,260 dinars, after it was up to 1230 just a week ago," attributing it to "minimize the Central Bank of the daily quantities of the dollar, which sold in the auction to nearly half. "

Saad said, that "a lot of banking offices merely to buy the dollar and sell it for fear of not rise more in the coming days," noting that "a lot of people have started queuing up to buy the dollar will lead to a height of more against the dinar in the coming days."

The dollar rose in the coming days to gradually up to 1,260 dinars, the highest rate in years.

The Iraqi Central Bank to sell dollars to banks at a price of 1166 dinars to take is to sell to dealers.

It is noteworthy that the current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of goods and data documents settling accounts and tax savings Alkmarki within 30 days from the date of purchase of the amount, and so it applies penalties stipulated in the central bank law or instructions issued by him, and the use of other banking tools to maintain the strength of the dinar against the dollar.

The Central Bank of Iraq, announced on Sunday, (the first of February, the current 2015), take five resolutions for "support" the development of the Iraqi economy, stressing his agreement to cover bank accounts abroad to "US dollar" to cover imports, while the importance of " accelerate "legislation Deposit Insurance Act, hailed the formation of a committee to reconsider the structure of interest among its" approval of the Central Bank to cover the bank accounts abroad in US dollars to cover imports of customers and for other purposes without having to go through the window of the currency sale at the Central Bank of Iraq. "

The Iraqi Central Bank announced last week, to take the necessary measures to boost liquidity in the banking system, and decided to facilitate the procedures for the sale of foreign currency "to sustain the exchange rate."

The Central Bank of Iraq, had announced in (the 18th of January 2015), that the financial reserves of Iraq is equivalent to one and half times the weakness of the currency bloc, returned it the "best rates" in the countries of the world, as he emphasized that Iraqi financial institutions are "unable" to cover The fiscal deficit, he stressed the need to reconsider the structure of the budget and spending and diversify sources of income and achieve investment more broadly to address the decline in oil prices.

The Iraqi Council of Representatives passed last Thursday (29th of January the past), the financial budget for the current 2015, an amount of 119 trillion dinars, the equivalent of $ 117 billion, and a deficit of about 25 trillion dinars, or about 23 billion dollars, and calculates the price a barrel of oil at $ 56 a barrel, while the President of the Council stressed, Saleem al-Jubouri, it is the first time that the adoption of the budget is during the first month of the year, returned to the "achievement" is calculated to parliament.

 

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funny...my hubby who is always saying that I am going to be on American Greed one day being involved in the biggest pyramid scheme ever....he told me to go buy a thousand dollars worth after I showed him the charts in the thread by pontiyak

 

http://www.forex.tradingcharts.com/chart/US%20Dollar_Iraqi%20Dinar.html?chartpair=US%2520Dollar_Iraqi%2520Dinar&ctype=l&movAvg1=&movAvg2=&tz=EST&per=1m⊂=Save

Edited by SnowGlobe7
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and Kaperoni moves to the edge of his seat...lol   Matters not, but he will freak

ha ha ha..that's the same thing i said to Buti 

funny...my hubby who is always saying that I am going to be on American Greed one day being involved in the biggest pyramid scheme ever....he told me to go buy a thousand dollars worth after I showed him the charts in the thread by pontiyak

 

http://www.forex.tradingcharts.com/chart/US%20Dollar_Iraqi%20Dinar.html?chartpair=US%2520Dollar_Iraqi%2520Dinar&ctype=l&movAvg1=&movAvg2=&tz=EST&per=1m⊂=Save

SG ARE YOU ABLE TO PLEASE POST THE THREAD LINK BY PONTIYAK?

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I'd like to read it as well

funny...my hubby who is always saying that I am going to be on American Greed one day being involved in the biggest pyramid scheme ever....he told me to go buy a thousand dollars worth after I showed him the charts in the thread by pontiyak

http://www.forex.tradingcharts.com/chart/US%20Dollar_Iraqi%20Dinar.html?chartpair=US%2520Dollar_Iraqi%2520Dinar&ctype=l&movAvg1=&movAvg2=&tz=EST&per=1m⊂=Save

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Tbomb I neg you sorry I'll pay you back later.

no worries hon 

I covered Tbomb for you,too!   We all have fat fingers from time to time.  :twothumbs:

Awww- love your pic

google translation

 

Dollar exchange rates due to reduce hard currency raised by the Central Bank

BAGHDAD - Iraq Press - February 2: After the rise of the dollar exchange rate against the Iraqi dinar attributed the Economic Committee in the House of Representatives on Monday, the high exchange rate in local markets to Jmmlh of decisions taken by the Central Bank during the past few days to support economic development.

To this end, a banking expert said "dollar exchange rates will return to normal soon," noting that "the height of the dollar exchange rates against the Iraqi dinar is due to busily banking offices to buy the dollar, and reduce the amount of hard currency sold by the Central Bank in accordance with the recommendations of the the general budget. " Admiral ended

 

 

bing translation

 

Dollar prices due to reduced hard currency by the Central Bank

 

Baghdad-Iraq press – 2 February: after a rise in the dollar against the Iraqi dinar attributed the Parliament's Economic Committee, on Monday, rising exchange rate in local markets to gmmlh of decisions taken by the Central Bank over the past few days to support economic development.

 

A banking expert, said that "the dollar exchange rate will return to normal soon," Noting that "the rise in the exchange rate of the dollar against the Iraqi dinar is busily exchange offices to buy the dollar and reduce the amount of hard currency sold by the Central Bank in accordance with the recommendations of the general budget". Finished a. h

 

http://www.iraqpressagency.com/ar/2015/02/02/%d8%a7%d8%b1%d8%aa%d9%81%d8%a7%d8%b9-%d8%a7%d8%b3%d8%b9%d8%a7%d8%b1-%d8%b5%d8%b1%d9%81-%d8%a7%d9%84%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d9%85%d8%b1%d8%af%d9%87-%d8%ae%d9%81%d8%b6-%d8%a7%d9%84%d8%b9%d9%85/

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wrong direction dawg. it needs to move closer to 0, not away from zero. not good, not good

Could be in our favor as the dollar rises the dinar is losing ground. They don't want that. Could be a knee jerk reaction in our favor here before long!!!

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wrong direction dawg. it needs to move closer to 0, not away from zero. not good, not good

"To this end, a banking expert said "dollar exchange rates will return to normal soon," noting that "the height of the dollar exchange rates against the Iraqi dinar is due to busily banking offices to buy the dollar, and reduce the amount of hard currency sold by the Central Bank in accordance with the recommendations of the the general budget. "

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"To this end, a banking expert said "dollar exchange rates will return to normal soon," noting that "the height of the dollar exchange rates against the Iraqi dinar is due to busily banking offices to buy the dollar, and reduce the amount of hard currency sold by the Central Bank in accordance with the recommendations of the the general budget. "

yes, hopefully, it will return to "normal",  since "normal" is 1166. We certainly do not want the market rate and the CBI rate to widen their gap. 

I don't believe "normal" means what it was before 2003, 12 years ago.  I believe "normal" means what it has been for the last 4 years.

No matter how you slice it, it is still a long way off from 10 cents.

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