CBI News 05/27/2018

[6ly410]

8 minutes ago, navira said:

The rate may be low at first...just to get everyone to exchange their dinars right away. My advice is to not fall for low exchange and give up ur dinars....wait...wait for it because it will go up some more 

Question is how much time will we have to exchange..

[navira]

We may see this rate change overnight but it is a low rate...wait for it

 

[pacmen]

1186.96 🔽🔽🔽

[6ly410]

Wow

[Early Retirement]

Everyone is missing it IMO......don’t look at spreads of 1%-2%......the reason why there has been a major issue with their economy is the dependency on the US Dollar.  The banks in Iraq were able to manipulate the currency market because of the discrepancy in the auction price, the price the Iraqi banks were selling the USD to their citizens, and the street value of th Iraqi Dinar.  The monetary policies the CBI has established have worked and the auction price and the street value and now the SAME....hence the change with the CBI website to 1190 dinars/one dollar.   NOW what does all this mean......the Iraqi banks and Currency exchange companies in Iraq NO longer have the ability to make a profit on selling the dollar!!!!  That was their #1 way to make money......if you pay attention to all the articles the CBI has put out stating they want to banks to LEND.....Hello, that’s how REAL banks make money!  Iraqi banks are NOW in the position to act like real banks.  Once banking really occurs....LENDING to the public (all those house, car, and business loans they are NOW making) then The Iraqi Dinar will be able to gain in value! A healthy economy leads to a strong currency!   Most importantly the Iraqi people will want to use the Dinar once again with pride........GO DINAR!!!!!!

[6ly410]

Yess!!!! Go Dinar!!!

[navira]

I watched the news with regards to dodd-frank act...they changed something to it last thursday i believe before we saw this change of rate in the CBI

[normala rashid]

 

9 hours ago, DWS112 said:

URGENT: Dinar Exchange Rate Change on CBI Website

FROM 1183.000 to: 1190.000

finally our investiment nearly to success .  you are correct yota . iraq in standby mode to transform .  i just want pay my debt after exchange iqd lol .

Edited May 28, 2018 by normala rashid

[normala rashid]

32 minutes ago, Early Retirement said:

Everyone is missing it IMO......don’t look at spreads of 1%-2%......the reason why there has been a major issue with their economy is the dependency on the US Dollar.  The banks in Iraq were able to manipulate the currency market because of the discrepancy in the auction price, the price the Iraqi banks were selling the USD to their citizens, and the street value of th Iraqi Dinar.  The monetary policies the CBI has established have worked and the auction price and the street value and now the SAME....hence the change with the CBI website to 1190 dinars/one dollar.   NOW what does all this mean......the Iraqi banks and Currency exchange companies in Iraq NO longer have the ability to make a profit on selling the dollar!!!!  That was their #1 way to make money......if you pay attention to all the articles the CBI has put out stating they want to banks to LEND.....Hello, that’s how REAL banks make money!  Iraqi banks are NOW in the position to act like real banks.  Once banking really occurs....LENDING to the public (all those house, car, and business loans they are NOW making) then The Iraqi Dinar will be able to gain in value! A healthy economy leads to a strong currency!   Most importantly the Iraqi people will want to use the Dinar once again with pride........GO DINAR!!!!!!

why you newbie ? but your opinion like senior .. welcome to DV  .

[3n1]

imo people who hold physical iqd notes need the currency to be internationally accepted / changeable into other currency or assets , iraq is still under imf article 14 , they need to accept imf article 8 when they are ready to join the world ......... here is the IMF link showing their status look to the right of membership status we need those roman numerals to read eight.... cheers dv, # rational and hopeful 

 

http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberkey1=460&date1Key=2018-04-30

[Floridian]

5 minutes ago, 3n1 said:

imo people who hold physical iqd notes need the currency to be internationally accepted / changeable into other currency or assets , iraq is still under imf article 14 , they need to accept imf article 8 when they are ready to join the world ......... here is the IMF link showing their status look to the right of membership status we need those roman numerals to read eight.... cheers dv, # rational and hopeful 

 

http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberkey1=460&date1Key=2018-04-30

 

Thanks for the link, 3n1.  You are right about that.  In 18 days, if they hold the dinar at 2% or less, they can write a letter to the IMF and accept the responsibilities of  Article VIII.

That's when we will see the currency move.

[normala rashid]

i buy dinar from money changer not from bank .  so will return to them back .lOL  i believed they will RI in country first to get article 8   . 

[navira]

Shaking my head with this article 14 article 8. Lol

[navira]

6ly410, 2 scenarios i see this thing may happen: 1. We may see change in rate at couple hundreds...followed by another rate change in 2 months higher than a dollar. 2. The CBI may come out at the initial rate at a dollar plus then the market will drive it higher

[6ly410]

Just now, navira said:

6ly410, 2 scenarios i see this thing may happen: 1. We may see change in rate at couple hundreds...followed by another rate change in 2 months higher than a dollar. 2. The CBI may come out at the initial rate at a dollar plus then the market will drive it higher

Right on.. thank u..  good times ahead Haha 

[Rmc10]

3 minutes ago, navira said:

6ly410, 2 scenarios i see this thing may happen: 1. We may see change in rate at couple hundreds...followed by another rate change in 2 months higher than a dollar. 2. The CBI may come out at the initial rate at a dollar plus then the market will drive it higher

 

I vote #2

[3n1]

44 minutes ago, Floridian said:

 

Thanks for the link, 3n1.  You are right about that.  In 18 days, if they hold the dinar at 2% or less, they can write a letter to the IMF and accept the responsibilities of  Article VIII.

That's when we will see the currency move.

 

Im not sure of the time frames when the cbi has or is allowed to make changes but one can rest assured the IMF articles are binding monetary agreements iraq has entered and agreed to follow ...

[normala rashid]

3 hours ago, 6ly410 said:

Question is how much time will we have to exchange..

ask the customer sevices at the bank when you make exchange . if you bring 2billion you get the VIP . Unlimited time

[Theseus]

16 hours ago, 10 YEARS LATER said:

Well, since it's still " it is what it is " right now, I think I'll get out to the Green House, Put on " Best of Talking Heads " and tend to the Veggies. The Tomatoes for some reason like " Psycho Killer " for some reason, don't ask me why, they just do. 

 

HOLY CRAP ! The Indy 500 is on right now ! They'll have to listen to " Best of Talking Heads " without me. Time for Scotch ! 

Danica Patrick is Hot! HOT! HOT!!! However, she did hit the wall.

 

Very hot day in Indy and this left a lot of drivers trying to get a hold of their steering. Danica could be seen adjusting her steering up to her crash. The temp differential on the track was extreme today so this caused drivers a lot of concern and issues with their steering. When I left the track area (Main St and Lynnhurst) ) around 11 AM the temp outside of the track had already hit 88 degrees F with expectations of going up to 92 and being the hottest race day on record. By 8 AM the temp had reached 75 degrees F. I believe turn 4 had no shadow to cool the track down so it was in constant sunlight. They had 72 misting stations that had been running since 5 AM. Crazy, hectic day, much like the day of the RV (when it happens - soon).

Edited May 28, 2018 by Theseus

[Theseus]

15 hours ago, yota691 said:

Been that way for some time..The CBI makes 7 dinars off the sale....that why it is 1190..Nothing change...

If CBI makes 7 dinars off the exchange, the rate should be 1191 not 1190 from 1184. The 1184 rate on the CBI site has been 1184 since May/June 2016 which was a change from the 1166 program rate. The 1166 to 1184 program rate change came about from the agreement with the IMF through the 2016 SBA. Not sure why the small change here but I am not buying the rate change is due to "profit from the sale" reason. My theory (and only my theory) is that this rate is more conducive to a project previously mentioned that they wanted to start but have not at this time.

[skeetdog]

Thanks Yota...Either I've missed it or the UNSC still has to release Iraq from their sanctions...I don't think we're in the right Chapter to be worrying about Articles...Once Iraq is released from their sanctions all bets are on...jmho

[Butifldrm]

Sales of the central Iraqi go up 2.6 million dollars

Total sales totaled $ 190.52 million  

 

 

 

 28 May 2018 01:05 PM

Mubasher: Central Bank of Iraq sales of foreign currency on Monday, to 148.31 million dollars, compared to 145.76 million dollarsyesterday auction , $ 2.55 million.

The Central Bank said in a statement that the exchange rate was 1190 dinars per dollar in the auction held with the participation of 33 banks and one company only for financial transfer.

The bank said the sales were the result of Tuesday's auction, showing total sales of $ 202.08 million.

The volume of funds sold to boost bank balances abroad was $ 146.61 million, while cash sales were estimated at $ 55.57 million.

The Central Bank said in a statement that the sale of the amounts transferred to the accounts of banks abroad is at the price of 1190 dinars per dollar, while the cash sale will be at the same price.

Related Topics central bank data

 Source : Mubasher

https://www.mubasher.info/news/3292532/مبيعات-المركزي-العراقي-ترتفع-2-6-مليون-دولار

[6ly410]

Alright... let’s see what’s next.. 

[ChuckFinley]

1 hour ago, skeetdog said:

Thanks Yota...Either I've missed it or the UNSC still has to release Iraq from their sanctions...I don't think we're in the right Chapter to be worrying about Articles...Once Iraq is released from their sanctions all bets are on...jmho

Morning Skeetdog. I would be nice to have a cut sheet on what has to be accomplished before they can be part of the international community.  The problem is, I am not sure anyone really knows for sure. 

[yota691]

4 hours ago, Theseus said:

If CBI makes 7 dinars off the exchange, the rate should be 1191 not 1190 from 1184.

I never mention 1184 all I stated was 1190 and Nothing Change....So Please don't insinuated on my behalf...