Warnings of a strong dollar to more than 1,500 dinars

[k98nights]

Warnings of a strong dollar to more than 1,500 dinars

03/30/2016

 

 

BAGHDAD / JD / .., the parliamentary finance committee warned of a rise in the dollar exchange rate to more than 1,500 dinars during the coming period, calling the central bank to take urgent steps to save the national currency, while attributed the rise in the dollar to foreign mafias and the lack of selling by the central bank .

A member of the committee MP Sirhan Ahmed told / KD /: The main reason for the rise in the dollar exchange rate of the dinar in the local market due to factors including the existence of mafias led outsiders from neighboring countries to buy large amounts of dollars from the Iraqi market and the other is the lack of dollar selling by the Bank Central until it reached to less than $ 75 million.

He added that in the absence of central bank intervention to maintain the stability of the dinar exchange rate against the dollar and the sale of control of the currency market, there is a major meltdown might get the national currency and possibly Asustek dollars percent to more than 150,000 dinars.

The dollar exchange rate. The US has seen a significant rise against the Iraqi dinar in the market during the last period where the dollar stood at 1280 dinars.

 

http://www.dananernews.com/News_Details.php?ID=7108

[Texstorm]

Thanks K98 ! I'm ready for double down LOL

[Big_J]

6 minutes ago, k98nights said:

calling the central bank to take urgent steps to save the national currency

GM k98nights AND DV. That I like!!!!

[k98nights]

I hope they're realizing that if they DON'T RV they face a total economic collapse.

[Boozer]

Time to siht or get of the pot.... Maybe another ploy to get Dinar off the street this and the 3000 limit,, seems to add up to reduce the note count.. anyone else have a take on all this ?

[235snack]

Well....it could be as simple as RV the dinar to 1 to1 with the US dollar, then when the dollar fluctuates in value, there will not be a change in the value of the dinar, and the Central Bank would not have to scramble to do anything to maintain the dinar.

[bigzac]

I don't understand, the Fed's long announced end of easing and beginning of rate hikes has begun...it makes sense the exchange rate would fall...all this stuff about mafias is just nonsense at the scale of the international currency markets..

[unirod]

The rate has always been a bogus rate! what is so different about this fear of 1500?

 

[thesjeske]

9 hours ago, k98nights said:

I hope they're realizing that if they DON'T RV they face a total economic collapse.

Maybe thats the plan after all.

[Dinar Happy]

Sure do wish they would get off the imposed rate,and move to reality. The rest of this just seems to be serious foot draging.

[sandfly]

THANKS

[jeepguy]

every thing in the economics of Iraq , is now  complicated by speculators  and terrorist , ---- which I mean  is ,  speculators must be filling up with a whole lot of dinar , that either  the central bank will print off a new batch too cancel  the dinar now out , or , they really have no clue , on how too close the gap on the  dollar too dinar values ...   and the terrorist thing  , is  that  those groups also have so much dang dinar  that if they went too 1 too 1 now  the terrorist would be very well off and could  buy more  stupid  people too  wear  explosive !   { but I guess  the same  would be  helpful ,  if Iraq  would get its  crap straight , and get a value  of  over 1 dollar per dinar , people would not need  too join terror  groups ! }   so  how too  help the people with out helping  the  other  bad guys ?