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New CBI announcement 04/09/2015 Press Release


yota691
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Central Bank doubles the share of banking companies from the dollar to curb the rise

 

Author: ASJ, HH 
Editor: AB, HH 04.09.2015 12:38 Number of Views: 150 

 

 

 

Long-Presse / Baghdad

Decided to CBI, on Thursday, doubling the share of banking companies of the dollar, while allowing banks Rafidain and Rasheed and Trade open windows to sell the dollar for banking companies and small importers to reduce the high rate of exchange in front of the Iraqi dinar.

The central bank said, in a brief statement issued today, and received a (long-Presse), a copy of it, he "decided to double the share of banking companies of the dollar."

He said the central bank, that "allowed the banks Rafidain and Rasheed and Trade open windows to sell dollars to banking companies and small importers."

The past few days have seen a significant rise in the US dollar against the Iraqi dinar for up to 1,340.

He was an economic adviser to the Iraqi Council of Ministers counting, in (30 March 2015), that the rise in the dollar's exchange rate against the dinar "serve" Iraq, through the creation of the phrase "positive" variables such as the provision of new jobs and stimulate different working local production sectors, indicating that the low price represents a "support" for foreign importer at the national account.

 


Read more: http://dinarvets.com/forums/index.php?/topic/200455-the-continuing-decline-in-the-price-of-the-dinar-against-the-dollar-and-calls-for-the-central-banks-to-reconsider-recent/#ixzz3WoXmAQvr

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Is this good news?? Iraq is talking about allowing more US dollars to be put on the streets?.... you would think they would RV and PUT DINAR on the streets instead of the dollar..... go figure... 3 steps forward and then 4 steps back.... 

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Flooding the streets with dollars will help to reduce the note count to 1 billion and help the dinar from loosing more value

Go CBI

Go dinar

Go strong 1+

Laidback, 

 

Where I'm slightly lost for the moment if this is the move - where would this scenario put us Dinar holders outside the county of Iraq?  The collection of our notes is to come once the CBI hits that button, yes?  Probably their continued "in-house" test like the clean up of the 50 Dinar note in a couple of weeks?

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Oh, this same old song and dance again? Flooding the streets with El Dinero in hopes people will bring in all the IQD notes to banks and they can secretly remove them from the active money supply and increase the exchange rate between IQD and USD?

I don't buy it, no pun intended.

This is not how things should be done. Not that I have the answer, but this process doesn't make any logical sense whatsoever to me.

Go ahead Iraq, I'll just wait patiently with my paltry amount of dinar until I can exchange it for a nice USD payday down the road.

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Flooding the streets with dollars will help to reduce the note count to 1 billion and help the dinar from loosing more value

 

I have also read that . They are trying to reduce the count to 1 billion.

 

 where would this scenario put us Dinar holders outside the county of Iraq?  

I've also heard that the dinar that we hold won't be going back to Iraq. The treasury will be holding on to it .  The reduction of the notes is for in country not outside of Iraq.

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Is this good news?? Iraq is talking about allowing more US dollars to be put on the streets?.... you would think they would RV and PUT DINAR on the streets instead of the dollar..... go figure... 3 steps forward and then 4 steps back.... 

I don't see this as great at all.  It just spreads the opportunity to sell the dollar with more facilities instead of daily auctions.  Another way to keep the dinar strong.  I don't mind if it keeps it value.  I don't want them to lose value and not be able to increase the exchange rate.   It just tells me, they need more investment and financial security laws, along with curbing laundering.  So, the banks are making money with this option and that's not bad.  We want them to make money, cause eventually we will.

Edited by uncirculd
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Laidback, 

 

Where I'm slightly lost for the moment if this is the move - where would this scenario put us Dinar holders outside the county of Iraq?  The collection of our notes is to come once the CBI hits that button, yes?  Probably their continued "in-house" test like the clean up of the 50 Dinar note in a couple of weeks?

Freeddomwish,

The only thing I'm worry about is that iraq can continue using dinar at 1166 for long time..... Like China keeping the Yuan undervalued

The collection of our notes will be when the CBI increase the exchange rate.

Let's see what happens in April 30 when the 50 dinar note will be out of circulation

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Taking Dinar in country out of circulation by getting citizens to grab dollars...if the citizens do that, if it RV's, they would be losers on the exchange from Dollars back to Dinar...hmmmm...makes my head hurt...need beer :cheesehead: :cheesehead: :cheesehead: :cheesehead: :cheesehead:

 

Someone negged you Sandfly...so I evened you out...weird...

Edited by wbuse984
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Freeddomwish,

The only thing I'm worry about is that iraq can continue using dinar at 1166 for long time..... Like China keeping the Yuan undervalued

The collection of our notes will be when the CBI increase the exchange rate.

Let's see what happens in April 30 when the 50 dinar note will be out of circulation

 

I have to agree.  It is quite possible that they could continue at 1166 forever no matter what the gurus say. 

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The IMF for the past decade have been workin' to the point they're at now. To mandate every nation/country to value their currency to its' appropriate values...This's the under layin' continent that'll keep the ''China Centrum'' from happenin' again...I've viewed article on this forum that described this very process...The timin' is of great interest as it may be a factor that's causin' the stalling of purchasin' my Catamaran...The IMF wants every currency to reflect its' true value...China havin' to increase their currency forced them to the Iraqi table....to help or as a write off, either way the little slant eyes' are smart enough to know a win win situation when it appears...Iraq will not be allowed to pull another China-Deal and the international community are all over this....     

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