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Central Bank: The currency outside the banks amounted to more than 40 trillion dinars


yota691
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Central Bank: The currency outside the banks amounted to more than 40 trillion dinars

 
3427.jpg
Logo of the Central Bank of Iraq

 

 

Economy News Baghdad:

The Central Bank of Iraq, the currency outside the banks amounted to more than 40 trillion dinars.

The central bank in a report seen by "economy News", "The currency outside the banks amounted to 40.18 trillion dinars last March," noting that "the currency outside the banks amounted to 37.5 trillion dinars in March last year."

He pointed out that "the capital of commercial banks during the first quarter of this year registered a rise of 25.3% compared to last year to reach 12.9 trillion dinars," noting that "private banks constitute the largest proportion of capital banks to reach 9.7 trillion dinars and government banks with capital 3.3 trillion dinars. "

 

 

Views 30   Date Added 11/05/2017

 

 

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1 hour ago, yota691 said:

noting that "private banks constitute the largest proportion of capital banks to reach 9.7 trillion dinars and government banks with capital 3.3 trillion dinars

i would imagine  out of the  12.9 trillion ,  governmental and central banking firms , hold  11 trillion ,  a lot of  government hands are pouring cash into Iraq ,  and I would guess they get dinar for travel inside Iraq .  not to mention the Iraqi people outside Iraq getting  the dinar in credit card format ----   

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Not wanting to be a Debbie Downer here, but with 40 trillion IQD still outstanding, I just don't see them coming out at a new rate of $1/IQD...or even at $.86.  Yes, I know we have the April 2012 SIGR report stating that Iraq planned to re-value the IQD to "slightly less than a dollar," and we reportedly have the Ministry of Planning Memorandum of Understanding Feasibility Study talking about $1.134 dollar per dinar (sorry, people, but when that MOP document came out, I distinctly remember it stating  a value of 1.134 dinars per dollar, i.e., $.88/dinar).  However, those two documents came out when their was only 20 trillion IQD outstanding.  If their are now 40 trillion IQD outstanding, the math of those previous estimates dictates they they should be cut in half to $.43/dinar and $.44/dinar, respectively. 

 

To put things into perspective, if someone bought one million IQD at the price of $1,000 per million and it straight-up re-values to $.43/IQD, that one million IQD would then be worth $430,000, yielding you a phenomenal 43,000% Return on Investment.  Yeah, it's not 1-to 1, but it'll still be the best ROI you'll ever see...by far!!!

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28 minutes ago, Rabbi said:

Not wanting to be a Debbie Downer here, but with 40 trillion IQD still outstanding, I just don't see them coming out at a new rate of $1/IQD...or even at $.86.  Yes, I know we have the April 2012 SIGR report stating that Iraq planned to re-value the IQD to "slightly less than a dollar," and we reportedly have the Ministry of Planning Memorandum of Understanding Feasibility Study talking about $1.134 dollar per dinar (sorry, people, but when that MOP document came out, I distinctly remember it stating  a value of 1.134 dinars per dollar, i.e., $.88/dinar).  However, those two documents came out when their was only 20 trillion IQD outstanding.  If their are now 40 trillion IQD outstanding, the math of those previous estimates dictates they they should be cut in half to $.43/dinar and $.44/dinar, respectively. 

 

To put things into perspective, if someone bought one million IQD at the price of $1,000 per million and it straight-up re-values to $.43/IQD, that one million IQD would then be worth $430,000, yielding you a phenomenal 43,000% Return on Investment.  Yeah, it's not 1-to 1, but it'll still be the best ROI you'll ever see...by far!!!

AND I  WOULD BE  HAPPY WITH THAT   :crossedfingers:

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I think the central bankers knew the dinar would be crazy  ( scattered and smothered  Image result for photo of waffle house scattered and smothered )  by other countries , and other central banking identities ...  and  I do believe they are still moving the actual amounts to be higher than they might really be ...  ( actual dinar paper that is ...  now the digital numbers  might be this high ,   and you know the old saying  " we are filthy rich on paper  but only have  20 dollars in our pockets " , might be applied here !  there is way to much csh flow going into the Iraqi areas not to have some sort of dinar foot print going out !  just my   Image result for photo of 2 cents

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8 minutes ago, jeepguy said:

AND I  WOULD BE  HAPPY WITH THAT   :crossedfingers:

 

I’ll take .44, too!  The Saudis are at .27/1.00 so at this point, I’ll take anything.

 

If it does come out at less than 1/1, I’ll cash some out and sit on the rest.

Edited by drj
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3 hours ago, Rabbi said:

Not wanting to be a Debbie Downer here, but with 40 trillion IQD still outstanding, I just don't see them coming out at a new rate of $1/IQD...or even at $.86.  Yes, I know we have the April 2012 SIGR report stating that Iraq planned to re-value the IQD to "slightly less than a dollar," and we reportedly have the Ministry of Planning Memorandum of Understanding Feasibility Study talking about $1.134 dollar per dinar (sorry, people, but when that MOP document came out, I distinctly remember it stating  a value of 1.134 dinars per dollar, i.e., $.88/dinar).  However, those two documents came out when their was only 20 trillion IQD outstanding.  If their are now 40 trillion IQD outstanding, the math of those previous estimates dictates they they should be cut in half to $.43/dinar and $.44/dinar, respectively. 

 

To put things into perspective, if someone bought one million IQD at the price of $1,000 per million and it straight-up re-values to $.43/IQD, that one million IQD would then be worth $430,000, yielding you a phenomenal 43,000% Return on Investment.  Yeah, it's not 1-to 1, but it'll still be the best ROI you'll ever see...by far!!!

if i may.. this says the amount of currency out side of iraq is equal too in dinar that amount includes dollars and all other currency that iraq holds!

Weight 2016 2015   Iraqi Dinar 27.66 /12.55 US Dollar 48.39/ 57.24 Euro 12.13 20.44 SDR 2.84 - Others 8.98

45% to be dollars!

Edited by danielchu
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There is the chunky cash again.!

 

How is possible that the chunky cash continues growing when the CBI has been reducing the note count for many years?

 

We know the CBI and others banks have a liquidity problem, is this caused  by chunky cash or the reduction of note count?

 

We know the CBI plan is to give real market value to the dinar.

 

I believe the CBI put this kind information out there to keep currency speculators in the dark, guessing and scared.!

 

just my opinion.!

 

Go CBI

Go new monetary policy 

Go RV

 

 

 

 

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One article that floated around was covering the IQD 1 and a half times......

 

Alsumaria News / Baghdad said Prime Minister Haider al-Abadi , Wednesday, that the Iraqi currency backed strongly there is no fear on the dinar exchange rate against the dollar, while noting the existence of fraud and conspiracy to influence the current situation. Ebadi said in a press conference held at the airport in Baghdad before leaving for Tehran and I followed Alsumaria News that "the Iraqi currency backed strongly, the central bank has large reserves that cover the Iraqi currency and a half times," noting that "there is no fear of the Iraqi dinar."

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The Central Bank of Iraq, the currency outside the banks amounted to more than 40 trillion dinars.
The central bank said in a report that “the currency outside the banks amounted to last March 40.18 trillion dinars,” noting that “the currency outside banks amounted to 37.5 trillion dinars in March last year.”
He pointed out that “the capital of commercial banks during the first quarter of this year registered a rise of 25.3% compared to last year to reach 12.9 trillion dinars,” noting that “private banks constitute the largest proportion of capital banks to reach 9.7 trillion dinars and government banks with capital 3.3 trillion dinars. “

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