Central Bank: Rising dollar prices caused by market speculators

[yota691]

Central Bank: Rising dollar prices caused by market speculators

Economy

 Since 27.03.2016 at 12:26 (Baghdad time)

Special - balances News

The central bank said on Sunday that the high and low price of the dollar depends on the ratio of demand and supply in the market, noting that the economic reality is heavily influenced what is happening in the Iraqi street.

He said the bank official media Acer Jabbar's / balances News /, "The rising dollar prices caused by speculative markets," noting that "the Iraqi Central Bank is committed to the laws and mechanisms and conditions that followed Iraq with all the banks to sell the dollar."

He added that "the central bank would continue to monitor banks and market records strict sanctions on banking and financial remittance companies," stressing that "the process of rising and falling dollar prices based on supply and demand existing in the market process as most of the market needs today is towards imports and the recent increase lead to increased demand for the dollar. "

He pointed out that "the economic situation in the country is affected by what is happening in the Iraqi street, and what affects the political and security process."

 The Iraqi market has seen a rise in the dollar's exchange rate against one dinar during the last two days where he arrived arrived in 1275 dinars Araca.anthy

[yota691]

The dollar hit a new pricier him in Kurdistan markets

By Roudao one hour ago

Dollar

Roudao- Erbil

continuing US dollar price rise in the Kurdistan Region markets, and scored on Sunday, a new record for him, and attributed the decision of the Finance Committee in the Iraqi Parliament, the reason for this is that the central bank has become poses less than dollar amounts than before. And exceeded the price of 100 US dollars, Sunday, 03/27/2016, in the province of Kurdistan markets (127 thousand and 600 dinars), is new this price lately that have not seen such a rise. he said the decision of the Finance Committee in the Iraqi parliament, Ahmed Haji Rashid, network Roudao media, "the Central Bank launched less than a dollar amount on the market for some time, and this is the reason for the high dollar prices." the Central Bank of Iraq, raises $ 150 million a day to the market earlier, which was maintaining the stability of the dollar rates, but the bank reduce the amount to $ 75 million only, which led to a rise in the dollar. he said Rashid, that " the text of the federal budget for the 2015 law to put $ 75 million into the market only, the central bank was not committed to this, but it seems that he will work to this law from now on . " is also a dollar selling by the Central Bank of Iraq at a lower price than the market price, preventing a rise in the US dollar price in the market.

[sandfly]

I KNOW WHAT WILL STOP IT

[jeepguy]

what sandfly ?   { I know  that if we  do a supply drop ,  say  40  c-130 supply ships  ,  just fly over Iraq  drop  trillion  and  trillions  of  dollars   on the land  maybe  they will find  comfort  and  stop  crying about not having enough !  }    sorry  had too be said !       can you imagine , speculators  in Iraq  !  what are they speculating ?  the dollar   or  the dinar ?    crazy  back and forth  news  from that area !  

[Laid Back]

1275 dinars per $1 .. Street or black market value 

Stop daily auctions

Give real value to the dinar

No more problem with speculators in the street or black market.

Go CBI 

Go monetary reform

[davis411]

ya what laid back said

give davis a rv

so i can be called laid back also

[yota691]

Stock Exchange today: a continuous rise in the exchange rate the dollar and gold will continue to fall

 

Monday, March 28, 2016 13:17

 

 

 

 

Alsumaria News / Baghdad  continued dollar rising prices with continued gold price locally decline in the stock market on Monday, as global oil prices rose. The dollar exchange rate against the Iraqi dinar: Bourse struggle - Baghdad 128.700 dinars. Buying and selling the dollar in the banking companies: the sale price dollar = 129.000 dinars. purchase price of the dollar = 128,000. gold prices locally: the price per gram caliber (21) 37.747 dinars.

[Big_J]

How much can I get for this again?

[Synopsis]

The last article states gold is 37.747 dinar per gram and infer the selling price of the dinar is 1,290 IQD = 1 USD.  I suspect they mean 37,747 dinar per gram.  At 37,747 dinar per gram, gold is USD 910.128/troy oz.  This morning, www.ino.com was showing gold as USD 1,217.275/troy oz.  Looks like the Iraqi gold costs 74.8% of what is shown on www.ino.com.

So here is a potentially viable plan:

1. Take USD 910.128 from outside Iraq and buy 1,174,064.569 IQD in Iraq.
2. Take 1,174,064.569 IQD in Iraq and buy 31.10352 gram (1 troy oz.) gold in Iraq.
3. Take 1 troy oz. gold and sell at buyer outside Iraq for USD 1,217.275/troy oz.
4. Repeat steps 1 - 3 until there is no more USD, IQD, or gold left to get.
5. Go to retirement location of choice.

Just a thought.

[SgtFuryUSCZ]

***///

SYN -- you're on to something....

...on way to airport to pick up our tickets to Baghdad as we speak...! 

 

If you need to reach us,

we'll be staying with our in-country Financial Advisor there at his home,

also known as the evil maliki's palace !  

 

We always love it when you do math, SYN ! 

 

 

 

.

Edited March 28, 2016 by SgtFuryUSCZ

[Synopsis]

2 minutes ago, SgtFuryUSCZ said:

***///

SYN -- you're on to something....

...on way to airport to pick up our tickets to Baghdad as we speak...! 

 

If you need to reach us,

we'll be staying with our in-country Financial Advisor there at his home,

also known as the evil maliki's palace !  

Hey, while you're there, could you collect all the royalties on the 5 step plan Maliki was using before all the natives get restless and do Maliki in?  Pretty sure they'll want to share all the wealth Maliki was hoarding but they won't be sharing with us! 

 

[SgtFuryUSCZ]

***///

Gotcha covered, SYN...

...but may be diffiCULT as we hear it's strictly insider immediate maliki family who are privy to this

monetary magic carpet ride ! 

Well, that and ya gotta be in tight with the Bush cult, er "clan".... 

[Synopsis]

28 minutes ago, SgtFuryUSCZ said:

***///

Gotcha covered, SYN...

...but may be diffiCULT as we hear it's strictly insider immediate maliki family who are privy to this

monetary magic carpet ride ! 

Well, that and ya gotta be in tight with the Bush cult, er "clan".... 

Yeah, I was afraid of something like the monetary magic carpet ride out of there.  I was thinking tunnels but likely they have some handy carpets in hiding somewhere.  Hopefully the natives are keen to Maliki's modus operandi and can circumvent any escape means Maliki would like to deploy.  Like antiaircraft artillery to shoot those carpets out of the air and down in flames kinda like Kim Jong Un did to his Defense Minister for dosing off during one of Kim Jong Un's speeches.

https://www.washingtonpost.com/world/north-korean-military-chief-executed-for-treason-souths-spy-agency-says/2015/05/12/840d0302-9b85-4ddc-92d5-2f6d45db64ce_story.html

[SgtFuryUSCZ]

6 minutes ago, Synopsis said:

... Kim Jong Un did to his Defense Minister for dosing off during one of Kim Jong Un's speeches...

***///

But wasn't that better than being eaten by starving rabid dogs  like he did to his own uncle...? 

Man, oh, man... just too damned much evil.... 

 

 

.

[calkid11]

Thank you yota, 

[Synopsis]

2 hours ago, SgtFuryUSCZ said:

***///

But wasn't that better than being eaten by starving rabid dogs  like he did to his own uncle...? 

Man, oh, man... just too damned much evil.... 

 

 

.

Maybe a no rules (just right) cage match with Kim Jong Un and Nouri al-Maliki?  PPV will likely be able to retire after that!  Especially if one or less comes out alive!

[yota691]

 

Related News: speculators are behind the rise in the dollar's exchange rate against the dinar

 

Economy News / special He attributed a specialist in economic affairs Farhad Fahmi rise in the US dollar exchange rate against the Iraqi dinar exchange rate to the monopoly by speculators. Fahmy said in an interview for "Economy News," The recent actions of the Central Bank, which includes checks of import certificates and monitor sales dollar more accurately and reduce sales of the dollar were not compatible with the interests of many people, prompting speculators to raise the exchange rate in order to put pressure on the central bank to ease its procedures The increase in dollar sales ceiling. He explained that the bank no longer has the flexibility to allow it to sell larger amounts due to the decline in revenues in dollar based on the decline in oil prices, stressing that these audit procedures that should have been imposed since 10 years and more to keep the foreign currency assets, but today "in the right way." . He pointed out that there are private banks are trying hard to maintain a unified and capable of supporting the country's economy, the exchange rate and in collaboration with the "Association of private banks," which is trying is the other hard to spread the spirit of cooperation and coordination with the banks and the central bank and the market. AJ
Views 111   Added 28/03/2016 - 21:15   Last updated 29/03/2016 - 13:04   No. Content 2639