Was the Kaps right all along about a float?
It looking more like a float rather than a RV/RI.
A IMF Report suggests a float is in the air.
Maybe it will come out a .10 cents & float from there.
A RV/RI would be nice but I can deal with that. It's a start.
Treat as a rumor. Not varafied. Your opine.
12-16-2019 Newshound Guru Kaperoni ...the IMF councils the CBI what to do. And they told them to float the currency. Never has there been talk of a RV or RI...Here is a direct quote from the IMF to the CBI from 2012 Article IV consultation..."staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy." That is a float people not a RV or RI! Here is the rest of that quote from the IMF.....
"Such flexibility could allow a PREDICTABLE & GRADUAL APPRECIATION of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect,"
The Kaps has been consistent all along.
There is too much IQD in circulation to drop the three zeros.
There simply is not enough money in the entire world to payout everyone.
There will be no getting rich overnight but it will be a slow process via a float.
This is one man's opinion. Nothing is set in stone.
Treat as a rumor. Not varafied. Your opine.
8-27-2019 Newshound Guru Kaperoni The odds are very high that they're going to FLOAT as long as they continue to move forward developing a market economy, I also believe a LOP is unlikely BUT POSSIBLE. An RV or RI has zero possibility because monetary policy does not work that way. [Truth is nobody knows if it is going to be float or RV, but we do know it is not a lop,that would have happened long ago...can you imagine the investors having confidence if they lopped] I surely cannot say with absolute certainty, but I do know for a fact in 2012 TH PLAN WAS TO FLOAT the currency.
Kaperoni, a staunch IQD floater has now changed his tune.
It will be a RV, RI. Not verified. Your opine.
7 Feb 2018 Whitelions:
OMG it must be getting close to the rv Kap is backing down on his float...
Whitelions: 2-7-2018 Kaperoni Article: "Central banks needed five hours to submit their applications to buy foreign currency" [Here comes the RV at one to one.] There is no RV. Not to mention this article has nothing to do with implying such.
This is an attempt to control the daily currency auctions and weed out corruption, but to me it is just another restriction which could have a negative effect on the spread. The CBI has a habit of implementing these types of controls rather than doing what it should be doing...arresting the crooks themselves.
7 Feb 2018 Kaperoni Moderator...
Central Bank of Iraq (CBI) News > Central banks needed five hours to submit their applications to buy foreign currency.
Since 02/05/2018 13:56 am (Baghdad time) Baghdad balances News.
Needful Central Bank of Iraq, Monday, banks five hours to submit their applications to buy the currency.
2-7-2018 Intel Guru RayRen98 DINAR IS SCARCE, IRAQ HAS "REPORTEDLY" STOPPED DISTRIBUTIONS...TICK, TOCK...TICK, TOCK. THERE'S A LIGHT AT THE END OF THIS TUNNEL... IT APPEARS THAT DEALERS ARE SELLING "ON HAND" INVENTORY ONLY? KEEP AN EYE OPEN ON THE DEALERS AND ON FOREX...THINGS MIGHT UNFOLD RIGHT BEFORE YOUR VERY EYES.
2-7-2018 Newshound Guru Kaperoni Article: "Central banks needed five hours to submit their applications to buy foreign currency" [Here comes the RV at one to one.] There is no RV. Not to mention this article has nothing to do with implying such. This is an attempt to control the daily currency auctions and weed out corruption, but to me it is just another restriction which could have a negative effect on the spread. The CBI has a habit of implementing these types of controls rather than doing what it should be doing...arresting the crooks themselves. [...Kap no offense here but the CBI kills your theories when they say NO FLOAT.] ...the CBI did not say no float, just no float at this time. And this makes sense since there is no momentum through the Capital Account to create inflationary pressure and appreciate the currency.
9-1-2015 Newshound Guru Kaperoni Raising the value gradually does chop the zeros off the exchange rate...just not overnight. There is no chance of the dinar ever appreciating to a 1 to $1 rate overnight (RV)...it's not mathematically possible with around 32 trillion dinar or more in circulation. Not to mention, the CBI has never mentioned one time about introducing an entire set of new bills (ie fils, 1, 5, 10, 20, 50, 100) at one time. In fact, all we have ever seen is the mention of a few notes and several years to complete. And most recently, it was stated that the 50, 100, and 200 would come out around the first of 2017.
9-1-2015 Newshound Guru Kaperoni So, IMO this is going to be gradual just as the IMF stated. It also confirms there is no LOP (which would be an entire replacement at the same time over a short period of time). You also would not need to reduce the note count first if your going to LOP, you simply introduce the new denominations. So, if they reduce the physical note count from 4 billion to around a 1.5 billion, they can substantial consolidate the physical Iraqi dinar. Though it does not reduce the money supply, it may make it much easier for them to transition to smaller denominations once the float begins (ie 50, 100, 200 early 2017). I guess we wait and see.
Treat this as a rumor.
This is just one Guru's opinion.
Your opinion. Your thoughts on this article.
Is this just more smoke & mirrors coming out of Iraq?
7-19-2015 Newshound Guru Kaperoni ... there is a reason the the dinar is being held low and pegged right now...Iraq has no market economy and to create one, creates alot of pressure on the financial system...especially one that has the potential as Iraq does...once the laws are passed and stability sets in, the pressure caused by the influx of investment and investors will be huge...keeping the dinar weak now, gives the CBI lots of room to grow to counter the pressure. Well, many experts do think the dinar is undervalued, some say "grossly". But like so many economists have said, the exchange rate is directly related to the productivity of a country...So we have to wait for that productivity and the dinar will rise! Lots of upside.
7-19-2015 Newshound Guru Millionday [WITH THE VALUE OF THE OIL AND THE OTHER COMMODITIES, HOW CAN THEY HAVE A LOW VALUE WHEN THE ENTIRE WORLD KNOWS THE VALUE AT CURRENT IS SIGNIFICANTLY UNDERVALUED, WOULD THE IMF ALLOW THAT TO HAPPEN?] I DONT SEE THE COUNTRY OPENING UP TO THE WORLD MARKET WITHOUT TARIFF AND CUSTOMS ACTIVATED --- I WOULD SAY IT IS HUGE TO CALCULATE THE DINAR FOR IRAQ TO COME OUT IN VALUE AND CONFIDENCE TO THE WORLD -- I WOULD THINK THAT MANY WOULD NOT ALLOW IT NOT TO BE DONE --- WTO--WORLD MARKETS--SHARE HOLDERS-IMF--WORLD BANK--THE ISLAMIC BUSINESS COUNCILS -- ETC ETC.
Is there a gradual IQD float in Iraq's future?
Iran is ready to flood the global markets with cheap oil.
Will Iran dash Iraq's hopes of an early RV/RI?
Economist suggest Iraq must open then develope a market economy not based on oil alonebefore the RV/RI.
If that is true...then the RV/RI could be a long ways off until the market economy takes hold.
Just Luigi's view.