Dinar rises slightly and some owners of banking offices refrain from selling the dollar

[WheresmyRV?]

There is no question that the CBI needs remove as much Dinar from the street as possible before an RV.

And it needs to be done in a way that does not tip off the general population.

 

A little trickery in the news, combined with certain banking policies are most likely being deployed to scare people away from the Dinar.

 

I like it...

 

The best things in life RV

I like your thinking!

[Butifldrm]

 

 

02/04/2015 (00:01 pm)   -   the number of readings: 214   -  number (3279)

 

 

A slight rise in the price of the dinar exchange shops .. and refrain from selling the dollar

BAGHDAD / long-Presse 

A number of owners and the offices of banking companies, on Tuesday, the high value of the Iraqi dinar slightly against the dollar after one day of a big drop is the first in many years, and as pointed out that the dollar exchange rate reached to 1240 Iraqi dinars, revealed their unwillingness to sell the dollar. "fear" of the heavy losses may occur to them if the fluctuation of the Iraqi dinar exchange rate continued. 

He said Mohamed Salem, the owner of the Office of Foreign Exchange in the Karrada district in an interview with the (long-Presse) that "the price of the dollar against the Iraqi dinar rose again on Monday night, for up to 1280 dinars, causing large overwhelm in the Iraqi market, "noting that many of the offices and banking companies completely stopped buying and selling for fear of losses which may cause hours after the sudden rise." 

Salim said that "the Iraqi market is still experiencing confusion and volatility in spite of rise of the dinar exchange rate against the dollar slightly up to 1240 Iraqi dinars, "adding that" all employees in companies and banking offices are looking to their news stating a rise or fall of the Iraqi dinar against the US dollar to hear. " 
 

For his part, Ahmed Sami owner Challengers Exchange Company In an interview with the (long-Presse) that "the high and low price of the Iraqi dinar against the dollar was not expected because of the stability in the pricing of the dollar over the last two years." 

He added Sami "It's hard to predict what will happen during the next few hours of the waves striking in high or low, I personally owe one of those reasons to the central bank, which has a hand in this volatility for not pumping hard currency to banks only in small quantities, noting that "the dollar exchange rate stood at today's 1240 dinars, down from the exchange rate on Monday, which amounted to 1280 dinars." 
and the Sami that "His company stopped temporarily sell the dollar until the get stability in the dollar exchange rate against the dinar for fear of big losses you might get, if it continues to fluctuate Iraqi dinar exchange rate."

witnessed companies and shops, banking in Baghdad, an apparent absence of Iraqi customers stagnant sales and buying foreign currency . Noted correspondents (long-Presse) in Baghdad and the provinces, the dollar exchange rate against the Iraqi dinar has risen repeatedly, on Monday, from 1240 to 1250 and then in 1280 the Iraqi dinar. " 

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

The Economic Committee in the House of Representatives Iraq has been attributed, on the first Monday, the high dollar exchange rate of the dinar in the Iraqi market to the decisions taken by the Central Bank during the past few days to support the economic development that, while likely economist return of the dollar to normal rates through a simple period, attributing the reason for the rise to "a ripoff "banking offices to buy the dollar, as well as reducing the quantities sold by the central bank as recommended by the general budget. 

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 more than 75 million dinars, with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of cargo documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and otherwise apply the penalties stipulated in the central bank law or instructions issued by him, and the use of tools other banking to keep the strength of the dinar against the dollar.

 

http://www.almadapaper.net/ar/news/480944/%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%B7%D9%81%D9%8A%D9%81-%D8%A8%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D9%88%D9%85%D8%AD%D8%A7%D9%84-%D8%B5%D8%B1%D8%A7%D9%81%D8%A9-%D8%AA%D9%85%D8%AA

[captl1]

pretty slight...never accomplish anything like that!

[staunch]

It amazes me (and is clear now) ........a.) how much the auctions actually control the rate, and .......b. ) how adept they have been at doing it. We've always known it was a tool for this purpose, but the effectiveness of it is pretty shocking. I wonder if they depegged from the dollar and attempted a managed float, would they still have this kind of control? Or is that a different story all-together?

[Big_J]

[yota691]

05/02/2015 (00:01 pm)   -   the number of readings: 70   -  Issue (3280)

 

 

Parliamentary affirming the continued rise of the dollar and an expert on financial demands that restrict the sale

BAGHDAD / long-Presse 
 

 Parliamentary Finance Committee, confirmed on Wednesday that the rise in the dollar exchange rate "will not last long", and demanded that the central bank using monetary tools to control the market, while the possibility of stabilizing the market and re-dollar natural position economist, counting financial expert to determine the sales ceiling. " would not be feasible, "and stressed that the best solution is not to restrict dollar sales and increased credits and strong control of the sources of purchase.

 

She said the Finance Committee member Magda al-Tamimi, in an interview to the (long-Presse), "The parliamentary Finance Committee predicted a rise in the dollar's exchange rate against the dinar, when identified ceiling 75 million dollars for the auction of the Central Bank, the General Budget Law," noting that "the situation That paragraph was because the CBI sales were between $ 200 to $ 250 million a day, which led to the depletion of the country's hard currency reserves and low of 77 to 67 billion dollars or less. "

She Tamimi, that "the sale of such large amounts that do not correspond with the size of what is being imported to Iraq, reinforcing suspicions that there Operations money laundering carried out by certain parties, particularly the countries of the world in general and the neighborhood in particular, are not experiencing such auction, so it maintained the stability of exchange rates their currencies against the dollar, "unexpected" does not continue to rise in the dollar exchange rate and the possibility of a long decline natural to put it over the next few days. "

And called for the central bank to "use the tools of monetary policy to control the market and miss an opportunity to traders and speculators."

For his part, ruled economist Majid picture, to be Parliament's decision is responsible for the rise in the dollar exchange rate, stressing that the central bank is able to ensure the stability of the market and re-dollar natural position, saying that "the House of Representatives decision to select the central bank sales of the dollar impact of the estimated directly in Significant market because auction sales rate of the currency during the past year in 2014, ranged from 140 to 150 million dollars a day, "returned to the" natural fluctuations in the dollar exchange rate against the dinar. "

He said the picture in an interview for the "long", that "the procedures adopted by the central bank to control the financial transfers, which will affect the market and tied the dollar exchange rate estimated lead to decline to normal," unlikely "to be the parliament's decision to cap the dollar selling is why height ". He explained economist, said: "Many factors influenced the dollar, including the security and political situation of the country, and economic instability, which led to an increase in asylum citizens and merchants for savings by the dollar, and thus its high price," and expressed his belief that "the central bank is able to influence the market and contribute to stability. "

In the same context, a financial expert count that the decision to determine the central bank sales of the roof of the dollar "would not be feasible," and stressed that the best solution is to compensate the Iraqi dinar and the survival of the dollar sales of the same with the need to increase the appropriation and control of procurement sources and sealing them strongly.

Said Salah Abdul Rahman, in an interview to the (long-Presse), said that "the decline in world oil prices is responsible for the rise in the dollar exchange rate against the dinar," noting that "the Iraqi citizen is worried about the future and the impact of that decline on the national economy, what caused them to save the dollar and increased demand for it. "

Promised Abdel-Rahman, the "parliament's decision to cap the dollar selling by the central bank, is the glory because it will restrict the monetary policy of the country because it depends on supply and demand," pointing out that "the decision can not be sustained for a long time and will lead to a negative impact on the market, including buying and selling the dollar. "

And saw a financial expert, that "the right solution lies compensate the Iraqi dinar and the survival of sales unchanged through increased appropriations and control procurement sources and sealing them strongly."

It is noteworthy that year's budget law for the current 2015, 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 cargo documents Data and settling accounts and tax savings customs 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.

 

[yota691]

Expert: one budget items was a reason for the high dollar against the Iraqi dinar

Date: 05/02/2015 20:22

 

 

Information / special / .. 
attributed the economic expert, on Thursday, the high price of the dollar against the Iraqi dinar to the presence of one of the paragraphs of the budget, which identified the Iraqi Central Bank to sell a specified amount of the dollar in the auction, noting that the move reflected negatively on the Iraqi market and the dollar exchange rate against the dinar . 
The economist said contrary goldsmith told / information /, that "the rise of the US dollar against the Iraqi dinar was the result of identifying sold quantities of the dollar at the central bank auction, amounting to $ 70 million a day by one of the paragraphs of the general budget," noting that "the purpose of the The move to maintain the foreign currency at the central bank stocks. " 
He added that "this action primitive and useless and that the current situation of the country does not suit this policy at the present time." 
He added that "the Iraqi Central Bank decision to determine the dollar amount sold within the central bank auction led to reaction among its dealers and speculators, which led to high prices. " 
The Iraqi market has seen in recent days, a rise in the dollar's exchange rate against Aldenarabraghi exchange rate. Economic Committee in the House of Representatives and attributed this rise in the dollar exchange rate to the number of decisions taken by the Central Bank during the past few days to support economic development. Ended 25 K.