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


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Author: ASJ, HH 
Editor: BK, HH 2015/12/23 12:27 Number of Views: 138 

 

Long-Presse / Baghdad

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.

Specialize: reduce the dinar against the dollar exacerbates the suffering of the poor

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."

He adds Husseini, that "the thrust of such a procedure requires the presence of the production of goods and services to be covered, and not, as is the case in Iraq, where almost are imported everything," adding that "the central bank went to lift the dollar exchange rate, would hurt the middle class and exacerbate the suffering of the poor more, it requires the central bank to pay attention to the consequences of that. "

In turn, says a member of the Union of Entrepreneurs Muhannad Sabri, in an interview to the (long-Presse), said that there is "confusion in the political decisions of the government reflected negatively on the economic reality," she returned to "prosthetic solutions do not benefit the Iraqi economy and the government must find a radical solution unilateral economy It depends almost entirely about oil. "

Sabri explains, that "Iraq is a sorry state of dependence on oil", calling for the need to "revitalize agriculture, industry, tourism and other important sectors to diversify national income resources."

And see a member of the Union of Entrepreneurs, to "raise the value of the dinar certainly will reflect negatively on the commercial reality where would lead to an unequal equation as a result of the abundance of the dinar against the dollar a few, most of the country in business dealings in dollars, and imports almost everything."

Sabri asserts, that "the decision to reduce the value of the dinar will be correct only if a real production and national industry obviates the importer and meets the need of the citizens were available."

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."

Parliamentary Finance: no alternative to stimulate the private sector

He says the Finance Committee decision in the House of Representatives Ahmed Hama Rasheed, said in an interview to the (long-Presse), "The central bank's mission is to maintain the dinar and support, and he has to be a level that," stressing that there is "a lot of initiatives and plans that have been developed on the shelves of the Ministry Planning without activated ".

Rashid and stresses the need to "support the private sector about my grandfather and to allow him to be able to stand up and contribute to the revitalization of the national economy."

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.

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Yet our wallets do not.....

Had to laugh when I seen that post.

apparently not..I got a neg..lol

So did Eburt? Really guys....fixed Eburt

  

Thanks Snow, I even you out also - I see some people have short fuse.....

Took care of that too. Gave you each one to plus up.

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This is great news!  Do you think for a minute that they are going to give any clue if they increase the value?  You will see doom and gloom and then...BOOM!  RV!!!   The Swiss did the same thing a bit ago when they increased the value of their currency by unpegging it in January 2015.  The Swiss lied, said it would never happen, lied some more and BOOM!  They unpegged the Swiss Franc and it increased by 20%!  The same thing will happen with the IQD!

Edited by drj
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This is great news!  Do you think for a minute that they are going to give any clue if they increase the value?  You will see doom and gloom and then...BOOM!  RV!!!   The Swiss did the same thing a bit ago when they increased the value of their currency by unpegging it in January 2015.  The Swiss lied, said it would never happen, lied some more and BOOM!  They unpegged the Swiss Franc and it increased by 20%!  The same thing will happen with the IQD!

 

I disagree, this rate change was a disaster, talk about some weird odd drama, this is not right JMHO

 

I feel something is wrong right now, JMHO

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on December 2, 2015 at 7:32 AM we discovered that the CBI changed the rate on their site

 

but if you were also watching the http://cbi.iq/documents/C.B.I.%20FOREIGN%20EXCHANGE.pdf

 

the rate did not change from 1166 until December 6th, and then they altered all the entries until the 1st of December to the 1182 rate

 

that was odd

 

Now we have the newspapers finding this rate change out on the 18th? wth?

 

CBI denies doing it, again very odd.

 

Saleh says this was not a devaluation, it was an adjustment? adjustment by devaluing duh

 

and now this...

 

Economic parliamentary: the central bank does not tell us the details of Iraqi reserves and invested Ervs

2015-12-23

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BAGHDAD / JD / .. the parliamentary Economic Committee revealed, for the central bank refused to inform the Commission on the details and figures of the Iraqi reserves, as confirmed also refused to set a cash reserve within the investment. 

 

Said committee member Rep. Nora Albjara in an interview with "JD" "There is cooperation between the Commission economic and central bank, but some of the information does not give the bank or tells us about, "adding" such as the Reserve figures of the Bank, and considers the secret of secrets. 

 

She noted "the existence of murmurs on the reserve Iraq and there is talk of the former Federal Government to withdraw funds from this reserve," noting There is a precedent to the call to invest the money, but the bank did not accept it, considering that the political and security situation of the country is stable. " / End / 22 /


http://www.dananernews.com/News_Details.php?ID=6480

 

 

 

 

 

I dont know, everything is odd, like too much weird drama for me, JMHO


I feel it too Obi Wan

 

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Edited by newbieDA
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Don't worry guys, The lower dee-nomz are going to be out by the 1st of the year and the big boys in charge of this whole revaluation are working on the calculations and pricing of the rate behind closed doors. They'll release it to everyone when they're ready and we should also see $habibi or someone similar come up to announce it to the world that Iraq is in da bidniss.

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Don't worry guys, The lower dee-nomz are going to be out by the 1st of the year and the big boys in charge of this whole revaluation are working on the calculations and pricing of the rate behind closed doors. They'll release it to everyone when they're ready and we should also see $habibi or someone similar come up to announce it to the world that Iraq is in da bidniss.

 

sorry nvm

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maybe kraperoni can inform us newbie.

 

OOTW is the only one who saw what I was saying so far, she seen the auctions say 1166 and be changed to 1182 for Dec 1, 2, 3, they cooked the books

 "the exchange rate by international standards is still under study and will report results if completed, 

 
 
another thing that has me on edge is I think the word study may mean investigation
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the government is taking 14 dollars from the commission rate of the CBI fyi so really no lose to the government, but a gain, no lose to the CBI reserves, stay the same, but a lose to the CBI Commission, screwing the CBI bank owners lol

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I think the lower adjustment was needed to get within the imf 2% compliance for art 8.....i see a positive,,,,time will tell shortly.


it is called manipulating the numbers, kinda like the usa stock market....................iraq gives up 16 dinars for now so they can line up for the big payday just around the corner...IMHO.

Edited by chinadawg
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