Central Bank: Iraq's reserves of hard currency according to international standards

[yota691]

Central Bank: Iraq's reserves of hard currency according to international standards

November 24, 2015

 

 

 

 

Our economy / Baghdad

Central Bank of Iraq, announced that Iraq has reserves of hard currency within international standards, while noting that the natural decline in the reserve process.

The governor of the Central Bank on the Keywords, that Iraq has a reserve within the international standards, he stressed, "we still cover the Iraqi dinar traded 1.7 of currency worth 39 trillion dinars."

Keywords He added that the reserve is able to cover imports in the country in 6 months, especially as the natural decline in reserves, a psychological process more than what is worrying.

He continued relationships, that "the reserve is not controlled by the central bank but controls the supply factors of the Ministry of Finance and the demand of the market," adding that he "so the central bank to maintain the market response to the request and fill the balance of payments, because it enters in to maintain a balance."

As he said, he was opposed to calls for lowering the exchange rate for the reforms, he stressed that the reduction would lead to higher prices.

"The Bank is opposed to calls for lowering the exchange rate for the reforms," ​​noting that "the reduction will lead to higher prices and hurt the poor, and this is what happened in Egypt, for example."

Keywords and pointed out that "the bank reserves is not a surplus," adding that "the rise and decline does not affect the government or the budget, but only affects reserves the Ministry of Finance."

Keywords and stressed that "the project to delete the zeros of the existing currency, pointing out that the issuance of 50 thousand dinars category came to structuring currency and do not affect inflation and high prices" .oamady to say, "The project to delete the zeros of the currency is still there, but administrative conditions are not favorable for its implementation Until now".

Keywords and added, that "the issuance of 50 thousand dinars came to structuring currency, the fact that the 25 A category is no longer suitable for trading bloc compared with cash in circulation," explaining that "the new category Stsuhal process and the conversion by the banks and the transfer of citizens." Keywords confirmed, that "50 thousand dinars class does not affect the inflation and rising prices, because the released are damaged versus currencies".

 

[Big_J]

GM YOTA AND DV. BUMP.

Edited November 24, 2015 by Big_J

[Laid Back]

"We still cover the Iraqi dinar traded 1.7 of currency worth 39 trillion dinars."

Enough reserves to give real value to the dinar.

Go CBI

Go reserves

Go dinar

Go increase exchange rate

[Rasica]

Keywords and stressed that "the project to delete the zeros of the existing currency, pointing out that the issuance of 50 thousand dinars category came to structuring currency and do not affect inflation and high prices" .oamady to say, "The project to delete the zeros of the currency is still there, but administrative conditions are not favorable for its implementation Until now".

Keywords and added, that "the issuance of 50 thousand dinars came to structuring currency, the fact that the 25 A category is no longer suitable for trading bloc compared with cash in circulation," explaining that "the new category Stsuhal process and the conversion by the banks and the transfer of citizens." Keywords confirmed, that "50 thousand dinars class does not affect the inflation and rising prices, because the released are damaged versus currencies".

 

 

If these are official and valid reports why does the CBI.IQ still show 50 IQD and and no 50K IQD?

 

Red Flags are waving!  If their official banking site cannot keep abreast one must truly wonder about competence ~ unless these reports are your typical lead in propaganda misinformation scheme to quell  IQD purchases. 

 

Some U.S. IQD retailers show the 50K IQD as "out of stock" or coming  to the U.S. in 2-3 weeks with even an exchange program. Is 2-3 weeks a window for the IQD to be released?

Or is it a window to buy 50K in the U.S.?

 

We can see articles coming out in  2-3 weeks that say "nah forget it we changed our minds about issuing 50K" something came up.

So we'll see in 2-3 weeks as one retailer has put date on  it.

 

Basically propaganda is free. 

 

The CBI site already has a 25 IQD Coin & a 100 IQD coin so why a 50K?

 

Issuing a 50K to the market place serves no purpose of soaking up 25K as change for a 50K requires 25K or other 000 notes.

 

A 50K note in the market place serves no purpose other than to lower IQD purchasing value and the removal/discontinuation of notes which will loose

usage. IRAQ has extremely low inflation in a "tightly controlled non released IQD to their GDP/GNP.

 

50 IQD & 50K IQD is pure criminal intent like 39T "fractional IQD" which is only digital circulation and not IQD physical supply.

 

A lot of propaganda is out there now folks.

Edited November 24, 2015 by Rasica

[sandfly]

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