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Stability of the exchange rate of the Iraqi dinar and some currencies at closing


yota691
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I am wondering what is going to happen when the market purchase rate hits or goes below the CBI purchase rate of 1,190 IQD = 1 USD or 119,000 IQD for 100 USD. The spread of (1195 - 1190) / 1190 x 100% = 0.42% now. That is awful tight to me. I am inclined to think a market rate lower than 119,000 IQD for 100 USD would drive a significant demand on the market to accelerate the rising value of the IQD vs. USD for the CBI currency auction non corrupt participants (getting more USD from the IQD in the market rather than CBI). The CBI currency auction corrupt participants will still participate in the CBI currency auctions since they are getting “free” money anyway. Maybe the market purchase price of IQD dropping below the CBI purchase price will weed out the non corrupt from the corrupt in the view of the public. Kinda close to elections for the public to see first hand who the corrupt CBI currency auction participants are.

 

The market value of the IQD could have an extremely fast wind up once the current CBI currency auction participants switch to the market in an ever increasing manner.

 

If the IQD is gaining in value, the general public may as well be inclined to exchange the CHUNKAE’ MONAE” for USD to get the higher denomination notes off the streets, too. Another way for the CBI to get the larger denomination notes off the streets through the public and private bank exchanges while detecting and eliminating the counterfeits as as been noted in the news.

 

The CBI currency auctions are delayed a day except for the Thursday auctions occurring for the following Sunday. This could allow for the non corrupt current CBI currency auction participants to make the necessary exchanges electronically on the same time dependent time line as now so as not to disrupt international payments if they purchase USD from the market instead of CBI.

 

Lookin’ Good!!!

 

:cigar:       :cigar:       :cigar:

 

:backflip:                   :backflip:                   :backflip:

 

Just my thoughts, opinion, and :twocents:

 

In The Mean Time.......................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY!!!)!!!

:rodeo:   :pirateship:

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An unprecedented drop in the dollar in Iraq

Date of release: 2018/4/20 11:56 • 1379 times read
An unprecedented drop in the dollar in Iraq
[Ayn-Baghdad] 
Foreign currency markets in Baghdad, on Friday morning, recorded an unprecedented drop in the dollar exchange rate against the Iraqi dinar.
The market price in the Kifah Stock Exchange in Baghdad was 1200 dinars per dollar, or 120 thousand dinars for one hundred dollars. 
The prices of selling and buying dollars in banking companies were: 
the sale price of one dollar 1250 dinars, or 120 thousand and 500 dinars, for one hundred dollars. 
The purchase price of the dollar is 1195 dinars, or 119 thousand and 500 dinars, for one hundred dollars, and this price is the lowest recorded by the currency markets for years in Iraq. 
Foreign Exchange Rates: 
EUR World Price: 100 Euro = 123.35 
GBP The World Price: 100 Bounds = 140.44 $ The 
Turkish Lira The World Price: $ 100 = 407.80 Turkish Lira The 
price of the gold ounce [28 grams] worldwide = $ 1343.80.
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Dollar exchange rates stabilize against the dinar in local markets

 

 From 2018-04-21 at 12:24 (Baghdad time)

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Baghdad Mawazine News

The dollar exchange rate fell slightly on the Kifah stock exchange, while local markets stabilized on Saturday.

Kifah Stock Exchange - Baghdad 120.050 dinars, while the prices for Thursday 120.100 dinars.

Selling and buying prices in banking shops:

The sale price of the dollar = 120,500 dinars.

The price of buying the dollar = 119.500 dinars.

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BAGHDAD (Reuters) - 

The dollar fell against the dinar on the Iraqi stock exchanges on Saturday. 

The price of selling the dollar in the stock market in Baghdad today 120 thousand dinars and the purchase price 119 thousand and 950 dinars to 100 dollars.

While the sale price of the dollar on the Arbil Stock Exchange 120 thousand and 350 dinars and the purchase price 120 thousand and 300 dinars compared to $ 100, while the sale price yesterday 120 thousand and 700 dinars and the purchase price 120 thousand and 650 dinars to 100 dollars. 

The price of the sale today 120 thousand and 200 dinars, the purchase price 120 thousand and 150 dinars compared to $ 100, while yesterday recorded 120 thousand and 350 dinars, and the purchase price 120 thousand and 300 dinars compared to $ 100.

The exchange rate of the dollar yesterday was 120 thousand and 500 dinars and the purchase price 120 thousand and 450 dinars to 100 dollars.
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  • yota691 changed the title to Dollar and gold exchange rates in Iraq on Sunday
 
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 Market


Economy News _ Baghdad

The exchange rate of the dollar, Sunday, stable against the dinar in the local currency market. 
According to the figures received by "Economy News", the price of selling the dollar in Baghdad today 120 thousand and the purchase price of 121 thousand dinars compared to $ 
100. " On the Basra Stock Exchange, the sale price today 122 thousand and 800 dinars, the purchase price 123 thousand and 750 dinars compared to $ 100 "He said. 
While the price of selling the dollar on the Arbil Stock Exchange today 125 thousand and 250 dinars, the purchase price 125 thousand and 200 dinars compared to $ 100, while yesterday recorded 125 thousand 450 dinars, the purchase price 125 thousand and 400 dinars to $ 100. 
So slightly decreased the Iraqi price of gold today, when 220 thousand dinars per weight. " 
The price of gold from the weight of 21 - carat, today 220 thousand and 500 dinars, while yesterday 's record 221 thousand as well.


Views 22   Date Added 22/04/2018

 
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15 hours ago, climber7 said:

 

 

I'm becoming more convinced this is the float Kap talks about but may not be the way he envisioned it 

This maybe, if this is case I would have to say that the Dianr is in play here and once people start seeing strong steady jumps we are harding towards the end of this ride.

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  • yota691 changed the title to The stability of the dollar exchange rate on the stock exchange and local markets
 
Monday, April 23

 

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Alsumaria News / Baghdad
stabilized the exchange rate of the dollar to exchange fight local markets on Monday (April 23, 2018). 

Kifah Stock Exchange - Baghdad 120,000, the same price for Sunday. 

Selling and buying prices in the banking shops: 

Selling price of the dollar = 120,500 dinars. 

The purchase price of the dollar = 119.500 dinars.

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3 hours ago, yota691 said:
 
Monday, April 23

 

Search Bigger
 
 
 
 
 

Alsumaria News / Baghdad
stabilized the exchange rate of the dollar to exchange fight local markets on Monday (April 23, 2018). 

Kifah Stock Exchange - Baghdad 120,000, the same price for Sunday. 

Selling and buying prices in the banking shops: 

Selling price of the dollar = 120,500 dinars. 

The purchase price of the dollar = 119.500 dinars.

 

1.20 seems to be the mark.  

Thanks!

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This may sound a little silly but I think the strengthening of the value of IQD vs USD ~ these are not an accident, they are there by design ~ to pull more dinar out of the street by selling 'cheaper' dollar.

 

 

:rolleyes:

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14 minutes ago, zul said:

This may sound a little silly but I think the strengthening of the value of IQD vs USD ~ these are not an accident, they are there by design ~ to pull more dinar out of the street by selling 'cheaper' dollar.

 

 

:rolleyes:

Hey Zul, I feel the same way. I feel like this is a mini float to get to get Iraqis seeing that their currency is gaining strength ageanst the USD.  All good my friend.  :twothumbs:

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thanks  zul , but strictly my opinion years ago when the cbi was more transparent about information to the citizens , cbi released articles about taking the currency from 4 million to 1 million notes in circulation the articles had the usual slightly translated differences , when iraq had a higher exchange rate the note count was around the 1 million target note count , with that said what we never get to know or see recorded unless someone has it , is when iqd is brought into the central bank how much is returned back into circulation ...... we wait 

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  • yota691 changed the title to Stability of the exchange rate of the Iraqi dinar and some currencies at closing
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