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High dollar exchange rate in Iraq: the "$ 100" to "140 000 dinars."


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High dollar exchange rate in Iraq: the "$ 100" to "140 000 dinars."

Economy and tenders

 Since 15/06/2015 15:51 pm (Baghdad time)

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Special scales News

Local markets witnessed high exchange rates of the US dollar against the Iraqi dinar to 1,400 dinars to the dollar, which means that the $ 100 US worth 140 000 dinars.

The "official exchange rate of the Central Bank of Iraq in 1166 dinars per dollar, meaning it is the official price rose about 234 dinars, an increase of 20%."

This "admitted a member of the economic and investment commission parliamentary Najiba Najib's / scales News /, on Monday, that the reasons for the rise of the dollar's exchange rate against the Iraqi dinar caused the central bank to add 8% as" secretariats "tax and customs deductions to buy it," .anthy 29 / d 25 requests

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I'm more afraid of the collapse of the country because of the financial crisis than I am of ISIS.  Unless Iraq raises their value there will be a continuing demand for the dollar and a continual decline to the value of the dinar.  They know that.  We know that. And the U.S. Treasury knows that.  So who do you think is manipulating the dollar and pulling the strings on the dinar?  

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What am I not understanding? If it were that simple wouldn't every country in financial trouble just RV themselves back into the black?

It is not the matter of "just RV"ing themselves.  It is the matter of the backing up the rv with their GDP, wealth, etc., and Iraq can do that with their oil economy.  Yes, the price is down, but the demand is high for the product and that is no going to diminish for the next 40 to 50 years.  

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It is not the matter of "just RV"ing themselves.  It is the matter of the backing up the rv with their GDP, wealth, etc., and Iraq can do that with their oil economy.  Yes, the price is down, but the demand is high for the product and that is no going to diminish for the next 40 to 50 years.  

 

If they could 'back it up'...then why are they broke?

 

They have to PROVE they can 'back it up'...not doing so well at that right now. IMHO

 

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Keep the faith friends! But To be honest, I would rather see the people of Iraq live a happy life then me recieving one red cent in return on this investment. The people of Iraq deserve a happy life and they should be able to walk the streets of Iraq with out the fear of being murdered.

 

:twothumbs:      :peace:

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If they could 'back it up'...then why are they broke?

 

They have to PROVE they can 'back it up'...not doing so well at that right now. IMHO

 

We don't know yet about the credit rating.  What we do know is what they have: oil, and plenty of it. 

Their "budget" being nearly depleted is just the "budget."  If they need to do so, they have enough wealth from a few of their "sheiks" that completing the budget is not a problem.  The trouble is that that is private wealth and Iraq has not tapped into that at all; nor should they.  

Borrowing from the IMF, China, etc. is a common practice even for the more stable countries like the U.S. A.  Borrowing and paying it back for Iraq is not that big a problem.  For the U.S.A., borrowing and becoming indebted to China IS a big problem. China "owns" the U.S.A. because of the debt.  

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RV4candyman.. The people of the U S would like to walk the streets of our country with out the fear of a drive by shooting. Hell our Kids cant even go to school without fear of being shot, or the shopping mall, Its not limited to Iraq..

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CNN. Broadcasting That Iraq Acknowledges It's Rich But Continues Using Charmin For A Currency !

 

 

 

(by walkingstick)

Iraq is a country all 1,400 dinars per dollar

Basil Abbas Khudair Tuesday , June 16, 2015 at 00:00
Dollar in Iraq is not the word transient, but the currency that is reliable in buying and selling goods and services in local markets, everything is denominated in dollars and ordinary people, even though they had nothing to do sentences in the dollar, but they know the exchange rate first hand, and because of the very large dependence on imports from abroad rather than domestic production, real estate, cars, furniture, food and commodity prices have become different classifications linked to exchange rates, rises immediately after the rise of the dollar and the decline of the Iraqi dinar exchange rate prices, remain the same price or down very slowly when you get the opposite, which indicates that the dollar Iraq does not fully subject to the economic theories of supply and demand, but rather are related to factors other causes, detection does not need a large intelligence, which is known to the vast majority of those interested in matters of the country because it refers to the control of the (gangs) on the domestic market, has acquired immunodeficiency almost complete of actions taken to reduce the grip, some of them became like insects that are not affected by any pesticide but that some of them took a feed on those pesticides.

Before more than two months issued several warnings indicated the seriousness of the repercussions of the low dinar prices on the lives of the poor, the poor who make up the majority of the people affected by exchange rate fluctuations because some traders are taking advantage of the oscillation conditions to raise prices to fold change in the exchange rate, Valbarhh the dollar exchange rate of 137 thousand for every $ 100 was selling cola price of a pack 1,000 dinars, on this day, the exchange rate shift to 140 thousand and that happened is that the price of cola became 1250 dinars, which means that in practice the dollar's rise by 30 dinars per dollar citizen 250 dinars commissioned any nearly ten times and it applies to all goods and services, and other problem is that traders in various Osnavhm (wholesale and retail, brokers and others) are doing to raise their goods prices at the high value of the dollar regardless of the date of purchase, it bought the goods and the dollar in 1200 dinars sells the same merchant who buys the dollar 1,400 dinars price , and some promise that a profit even though they do not cut their prices at the high value of the dinar and exchange rate changes.

There are a lot of those asking whether the state can intervene and address the issue and re-exchange rates to form commensurate with the prevailing exchange rate at the Central Bank of Iraq and of 1,166 dinars per dollar, and they say how can not the state of the treatment which is (or dollar) Everything is handled by currencies Foreign in Iraq are from Iraqi oil sales as a primary source in the balance of payments and the entry of foreign currencies, Vtjarna not bring the dollar even out the dollar The currency auction or from their sales in the markets, they are when they buy dollars from the central bank to pay the dinar and paid a dollar and when import goods and sell them Iraqi traders, they sell them in dollars, not dinars, but where they come in Iraqi dinars to buy the dollar again from the central bank auction, it is a mystery that many people did not want to go into it and bridging Fjute, are liable they are buying the Iraqi dinar from money changers prices they prefer offices, and so They realized their profits much more than the importation of goods earnings, one of them told me that they, even if they lose their trade in the profit from the dollar and speculation exponentially fold.

Dollar exchange rates have reached today to 1400 dinars and this figure is not final, it is possible that the exchange rate to rise to much further as long as there is a demand for the dollar, high demand and is organized in the import and some to speculate and others to smuggle wealth abroad also does not rule out the existence of political targets of manipulation dollar, The country is locked in a fierce war to defend its existence and the lives of his people and the enemy has multiple colors and not a color one because (entity) and is not a state, and we say to those who possess the resolution and all national and professional, if the state did not strike with an iron fist on the Doaash the dollar will be the majority of our people, the position of embarrassing, and us the type of confidence that the State has tools capable of solving all the problems in the presence of clean hands and true talent, all the problems (economic) through which our dear country is the monetary and fiscal problems must meet her so until bring solutions through economic reform, because Iraq is rich when administered wealth as logical and correct, and we consider 1400 dinars per dollar, one of the yellow tags that must be converted to green by leaps and bounds, it is putting the shares to reach this mark used with near time of Ramadan and the insistence of our people to fight the enemies.

http://www.kitabat.com/ar/print/53356.php

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1400....hummmmmmm

That's The Street Rate ! ;)

Which Has Been Hurting The Citizens As The Value's Been Diminishing

As A Result Of Parliament's Overreach By Placing A Limit On What The CBI Can Sell ! <_<

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...and the million dollar question...what is holdin' them back from doing something about the rate and returning their own currency to a value they can take pride in once again??? In the words of the late great space traveler "Spock"....it's totally "illogical"!!!

Sandfly to out Master Yota and our humorous makeup encrusted news hound!!! ;o)

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