Specialists warn of the devaluation of the dinar against the dollar and the central bank denies

[calkid11]

Thank you Yota

[Theseus]

 

Counting specialists, economists and businessmen, on Wednesday, that the reduction in value of the dinar against the dollar "error" involves "serious repercussions middle and poor layers", in the absence of industry or agriculture and national "real" able to meet the needs of the citizens, as the central bank denied the existence of intention to reduce the value of the dinar, the Parliamentary Finance Committee stressed the need to support the private sector about my grandfather and to allow him to be able to contribute to the revitalization of the national economy.

 

...He says economic reform Institute adviser Ahmed al-Husseini, in an interview to the (long-Presse), "The devaluation of the dinar against the dollar error involves a very serious implications," noting that it "leads to inflation, especially in light of the austerity experienced by the state and reduced salaries."

First they claim the reduction is an "error".

 

 

 

Central Bank denies reduction rate of the dinar

According to a source at the Central Bank in an interview to the (long-Presse) that "the selling price of the dollar has not changed and is still the equivalent of thousand and 166 dinars," noting that "the Board of the Central Bank's management met a few days ago has not been included on its adjusted sale price of the dollar against the dinar's agenda, but I did not think so at all. "

Adds the source, who asked not to be named, said: "The central bank is always trying to find solutions that support the Iraqi dinar and maintain stability."

 

Then they say the rate has not been changed but we all know it was to 1182.

 

 

The local media recently picked up the intention of the central bank cut the value of the dinar against the dollar, unexpected lift to sell dollars to banks and exchange companies rate, by 16 dinars, an increase of 1.37 percent, for a price sell thousand and 182 dinars instead of thousand and 116 dinars.

 

So were they supposed make the exchange rate for the dinar 1116 or 1182?

 

This article is contradictory unto itself for either a decrease or increase. This just could be misinformation to confuse the H-E-double hockey sticks out of us..

 

Either way the IQD is still showing 1182 on the CBI webpage and that is what I am going to go by.

Edited December 24, 2015 by Theseus

[Antietam]

You are herding cats, people. These little ups and downs in the dinar to dollar peg are not precursors to either a big revalue or a big devalue. The CBI will hold the peg as close to 1166 as is humanly possible because they FEAR marketplace chaos. When the people riot, government officials often get tossed out on their keesters. These boys want to keep their cushy jobs. They know that dinar stability is essential for that to occur. Get used to 1166 for a while longer, people. Just my opinion of course.

[TQueezy]

Show me where in Article VIII of the IMF's general membership rules and guidelines that it says a country has to have its currency be within a 2% margin for the official exchange rate and the market rate. Please. They just make this stuff up, people.

[sxsess]

If it's not bad enough that this has gone on for so long, they are devaluating against the $? If they do this I'm completely out. I sold 1/3 of my holdings (10MM) earlier this year to reduce my position. This is starting to make my ill.

[Nelg]

One thing we all know, something is a foot.  Change is going to take place during the first part of the year.  We can only guess at what it will be.  Our hope is that it will be a large revaluing to our pocketbook, purse, or bank account.  

 

It would be nice if SOMETHING happens to the dinar that will benefit the holders of the paper.  

[Candy01]

A HUGE AMEN TO THIS, Nelg!!

 

:bravo: :praying:

[SgtFuryUSCZ]

A HUGE AMEN TO THIS, Nelg!!

 

:bravo: :praying:

***///

What CANDY Cane said....!    

[djgabrielie1]

Merry Christmas

 

[Candy01]

Thanks for the WONDERFUL picture, djgabrielie1!!!