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Hatem George Hatem *: Measuring the effect of changing the dinar exchange rate against the dollar on the gap between the total sum of revenues of the Iraqi general budget and the total of its expenses -


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Hatem George Hatem *: Measuring the effect of changing the dinar exchange rate against the dollar on the gap between the total sum of revenues of the Iraqi general budget and the total of its expenses -

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The research paper focuses on the first part of the research paper.  The first is to define the objectives of the research and to establish the definition it adopts for the variable in which the research is centered [...]

HATEM GEORGE HATEM

- POSTED ON 18/08/2018

 

A brief description of the research

 

The interest of this research paper is limited to its first part in two things. The first is to determine the objectives of the research and to establish the definition that you adopt for the variable around which the research is centered, ie exchange rate The Iraqi Dinar; the second is to explain the methodology adopted by the paper in the analysis. The second part of the paper focuses on clarifying the mechanism of determining the dinar exchange rates against foreign currencies in Iraq and highlighting the pivotal role in this mechanism for the specific exchange rate of the dinar, ie the dinar exchange rate against the dollar according to the window / auction of the Central Bank of Iraq and the dinar exchange rate according to the local market. After highlighting the importance of the exchange rate of the dinar against the dollar in accordance with the window / auction of the Central Bank of the Iraqi public budget, the paper in this section tends to present these particulars for both the revenue side and the expenditure side of the general budget responsible for the difference in the overall effect of each of these two sides to the change in price Exchange of this dinar. The third part of the paper was dedicated For the mathematical analysis of the impact of the change in the exchange rate of the dinar against the dollar in accordance with the window / auction Central Bank on both sides of the Iraqi budget after taking into account the specifics of each item. And this analysis of the people of research to reach a number of conclusions expressed mathematically and useful in making appropriate decisions on the course of exchange rates of the dinar against the dollar in general and the exchange rate of the dinar against the dollar under the window / auction CBI in particular. The paper presents in its fourth part a case study in which mathematical analysis equations are used for the effect of the devaluation of the dinar against the dollar in accordance with the Central Bank auction (9.09%) on the total of the general budget revenues for 2016, It is clear from this application that such a reduction in the dinar exchange rate according to the Central Bank auction leads to a reduction of the budget deficit by ( 23.6)%). In the latter part, the researcher lists what he considered to be the most important conclusions reached in this paper. 

http://iraqieconomists.net/ar/2018/08/18/حاتم-جورج-حاتم-قياس-تأثير-تغيير-سعر-صر/

 

I translated the PDF sorry if it's not perfect 

 

Hatem Georges Hatem *: Measure the effect of changing the dinar exchange rate towards
Doeller on the gap between the total general budget
Iraqi and total expenditure-sports treatment
Search Brief

 

This research paper is exclusively concerned with two things. The first is to define the objectives of research and
Install the definition that it adopts for the variable that the search is centered on, for the exchange rate of the Iraqi dinar;
The second means explaining the methodology adopted by the paper in the analysis. The second part of the paper is to clarify
The mechanism for determining the exchange rate of the dinar against the Iraqi currency in Iraq and highlighting the pivotal role in this matter
For a specific exchange rate for the Iraqi dinar, the two dinar exchange rates in exchange for the Bank's window/auction
Iraqi central and the exchange rate of the dinar according to the local market. After highlighting the importance of the dinar exchange rate for
In accordance with the Central Bank of Iraq general budget window/auction, the paper in this section tends to show those
The specificities of each side of the expenses and the expenditure side of the general budget responsible for the variation in the impact of the total
Two sides to change the exchange rate of this dinar. The paper was for the general analysis of each of these X Part III of
The effect of the change in the exchange rate of the dinar versus the Dueller in accordance with the window/auction of the central bank on either side
The general budget of Iraq after the exam is considered the specificity of all the items. And this analysis is a search to
Arriving at a number of mathematical conclusions that are useful in making appropriate decisions about the price trajectory
Exchange of the dinar in exchange for the Dueller in general and the dinar exchange rate in exchange for the Central Bank's window/auction
of Iraq in particular. In its fourth part, the paper presents a case study in which mathematical analysis is employed
On the effect of a reduction in the dinar exchange rate at the central Bank auction (09.9)% of the total 

 

General budget for 2016, the overall total expenditure, and the deficit achieved.
This application shows that such a reduction in the exchange rate of the dinar according to the central bank auction leads to
Shrinking budget deficit B (6.23.) And in the good part, the seeker lists what he felt was the most important
Reached in this research paper.
1. Introduction
1.1 Objectives of research and definition of exchange rate
The purpose of this study is to illustrate the effect of change in the exchange rate of the dinar against the general total
The Iraqi general budget and total expenditure, and follow up on the impact of this change on the gap between these two
Variables (i.e., the deficit or surplus in the general budget). The exchange rate is known as the dinar towards any foreign currency
In this paper as the required amount of the relevant currency to buy one Iraqi dinar, or in other words
The price of one Iraqi dinar expressed in a certain foreign currency, instead of the amount required from the Iraqi dinar for the purchase
1 unit of a certain currency or unit price of a particular currency expressed in Iraqi dinars.

1
Two exchange rate definitions are available. The exchange rate is defined as the price of one unit of the local currency
Calculated or defective in the currency or amount of the Alalzmah currency to purchase one unit of the local currency. This definition
Is the most internationally adopted at the present time
Dornbusch, Roger, Stanley, Fischer and Richard Startz. Macroeconomics, Op.
cit., p. 576.
The following reference shows the motives behind the widespread use of this definition in the good years
Dunn, Robert M. Jr., and John H. Muttin. International Economics, London
and New York: Routledge, 2000, p.3

 

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It is clear that the exchange rate of the dinar according to the second definition is just the inverse of the dinar exchange rate as defined
The wall. Accordingly, according to the definition of this exchange rate paper, the saying "reduce/raise
Exchange rate dinar "is necessarily synonymous with the saying '" Raise/decrease the inverse of the dinar exchange rate. " The equation indicates
(1) The value of the change in the inverse of the exchange rate is equal to minus
Change in exchange rate multiplied by exchange rate value before changing to value after change.
(1)................
E1
The equation codes reflect the exchange rate indices as shown below:
E0 = exchange rate before change
E1 = exchange rate after change
y = rate of change in exchange rate
x = percentage change in the inverse of the exchange rate
1.2 Research Methodology

The second definition is the inverse of the definition. According to this definition, the exchange rate represents the price of one unit of currency
The GNU is calculated or expressed in local currency or the amount of the local currency alalzmah to buy/sell a single unit of currency
The genome. This definition has been adopted in a number of scientific studies, for example the exclusive
Catoa, Luis A.V. "Return to Basics: Why Exchange Rates," Finance and
Development, September 2007, p. 48
The Central Bank of Iraq adopts the best known exchange rate in its official statistics on the exchange rate of the dinar
For example: "annual yearbook 2016 " issued by the General Directorate of LALHASAA and al-Bahath
Of the central Bank of Iraq available on the following website:
Http://www.cbi.iq/documents/Annual_ 2016, Fpdf

 

The paper adopts a simple mathematical analytical method that goes beyond the compulsory treatment of the education phase.
Average. As part of this research, the employment of mathematics in Aalkotsadi third analysis has important advantages. On the one hand
First, this recruitment is characterized by a clear and simple expression of the lingering between variables
Nomic provided by nomic theory to facilitate the finding of facts and conclusions is difficult (and may not be
In many of the two neighbourhoods (obtained from the during of the analysis, i.e., tantalum or verbal enrichment).
On the other hand, mathematical analysis tools allow the precise and the exact same as the revenge for change in a particular variable
On variables that are associated with either as an extended variable or as a specified variable. On the third hand, the
Mathematical expressive of the lingering between variables nomic allows the possibility of using actual data for variables
To muzzle these variables, and thus to quantify what it takes or generates, changes a variable, by the amount of
Specified or a certain percentage, a change in the variables associated with it from certain identical during or lingering causal determinants.
Mathematical analysis, like any theoretical analysis, needs to employ simplistic hypotheses. Such hypotheses
Awal allows to focus on the main elements and milestones of the topic around which the analysis is structured, and secondly, to identify
On the causal lingering of the variables, fixed and time-limited, and expressed in clear mathematical formulas
of Aalltbas and error. On the one hand, on the other hand, it is necessary to resort to additional simplistic hypotheses
When you begin to employ what is produced by the mathematical analysis of the subject from the information that reflects the causal lingering between
Nomic variables involved in the analysis of a specific economic reality for two reasons: Awal that resorting to simplistic hypotheses
The analysis facilitates capturing and containment of those landmarks of interest to the concerned that bear particular importance to the subject of the research
And that has important implications for what the analysis leads to conclusions about the lingering between variables
Research within a given economy; second, the available metadata for variables Nomic
Rarely fully correspond to the definitions in the pure form given to them by theoretical lines;
Simplistic hypotheses facilitate the adaptation of theoretical definitions of nomic variables involved with the data available, and the 

 

Can eventually be gagged and used to quantify the effect of changes
In specific (independent) variables on variables dependent on them.
2. The mechanism for determining the exchange rate system of the dinar and its role in the general budget calculations of the Iraqi state
1.2 The mechanism for determining the exchange rate of the dinar against the Dueller and other other
According to the approved course in determining the route of the dinar exchange rates for the Omani currency, the central bank is responsible
An administrative decision to set an official exchange rate for the Iraqi dinar for the only dollar. The term price is used
Cashing the window or auction of the Central Bank of God on this official exchange rate. The central bank adopts an exchange rate
The Central Bank's window/auction to divert general budget revenues from the oil exports of the duwaller to the dinar
When deposited in the Ministry of Finance account with the central bank. Also, this window/auction exchange rate
Used by all State and public sector institutions to convert Maamaltha financial values from Duwaller to dinar
Iraq and vice versa when necessary. It is clear from the above that the window/auction exchange rate is specifically
The exchange rate and the decisive balance in the general budget accounts, not any other exchange rate of the dinar, whether
For the Duwaller or for any other foreign currency. The central bank exercises control of the dinar exchange rate against
The Doler is in the market of during the amount of Duwaller he offers for sale through his auction of the currency and in line with
Supply and demand laws. The term market exchange rate for the Dalai Lama is called the dinar exchange rate for the Duwaller
2 The local market.
From now on, the terms of the auction exchange rate and market exchange rate for the gods will be used for
The exchange rate of the dinar against the Duwaller according to the central Bank of Iraq's window/auction and according to the market, respectively.
In general, the central Bank of Iraq is distancing itself from establishing official exchange rates for the dinar towards the
Other information or interference with the exchange rate of the dinar towards other foreign market
. The exchange rate of the dinar towards the Duwaller, whether according to the Central Bank's window/auction or according to the local market,

2
The following study: Dr. Ali Merza, a complete explanation of the dinar is available for the exchange of dinars.
Since the adoption of the 2015 budget, the Sound of wisdom p. 3-6 study is available on the following website:

 

Papers in monetary policy
Hatem Joujoj Hatem measuring the effect of changing the rate of exchange of dinars towards the Doeller page
The role of the installer shall be to exchange the dinar for all other foreign currency. The auction exchange rate is based on
By State institutions as a basis for converting the value of the exchange rate values towards the Duwaller as prevalent in
The driver to exchange rates against the Iraqi dinar when the amounts involved are in another foreign currency. As determined
The exchange rate of the dinar towards other foreign exchange in the local market as a result of the dinar
The Duwaller in the domestic market and the exchange rates of the market to the Duwaller as it is in this marketplace which
are usually comparable to what they are in the global driver.
2.2 The role of the auction exchange rate in determining the gap between the total general budget and the general total
of its expenditures
The auction exchange rate is a major determinant of the size of the gap between total budget revenue
And total expenses of Iraq. This is because important paragraphs on both sides of the general budget depend directly on
The price of the Iraqi dinar (IQD) and specifically the exchange rate of the dinar against the Dueller in a window/auction
The central Bank of Iraq. The Iraqi general budget is characterized by the fact that the dependence of the sides on the pleural critique exceeds
Significantly depend on the expense aspect of this critique. On the one hand, the oil supplier's contribution to the budget revenues
3-The general state of the country exceeds the following, according to the specialists, the 90%
; As previously indicated, the ministry
It transfers state budget revenues from oil spills to the central Bank of Iraq for
Deposit their corresponding Iraqi dinar account with the central bank at the auction exchange rate. On the other hand,
The general budget expenditure of the State is limited only to the purchase of imported items of goods and payments
Cash (transfers and payments cash) to the outside world) to service the public debt
External and other (whose values are directly influenced by changes in the auction exchange rate; In addition to covering
Costs of local commodity supplies This hypocrisy also includes paragraphs that are hypocritical in the form of payments

3
 Dr. Mohammed Mazhar Saleh, "Monetary and fiscal policy and control of inflation and exchange rate variables", former source, p. 7.

 

Cash is in the local currency and whose values are directly or indirectly affected by the auction exchange rate)
Example: Compensation for workers, grants, cash pools, internal public debt service and services
Welfare). The general budgets of the Iraqi state for two years are read as follows
Local cash and payments typically occupy more than half of the overall total budget expenditure
of the Iraqi public. Based on the available data, the total average share of compensation for workers and the average
Only the share of welfare in the overall total of Iraq's general budget expenditure for the period 2014-2016 amounts to
Approx. 11.59)% see table 1.) This bitter confirms that over half of the public budget spending
Of the Iraqi state affected by the rise or fall in the exchange rate of the dinar towards the Duwaller or other foreign currency. And because
This large variation between the two budget sides in the nature and degree of aalrtbat in the price of the pleural cash, any change in the price
The auction will inevitably lead to a change in the general total of the state's general budget at a significantly different rate.
On the percentage change in the overall total of its expenditures, and consequently a significant change in the gap between the general total
General budget and total expenditure (i.e. in the general budget deficit or surplus).
3. Mathematical analysis of the impact of the dinar exchange rate on the Iraqi general budget
This part of the paper uses simple math that goes beyond the algebraic standards taught to middle-school students.
To analyze and determine the effect of the change in the auction exchange rate on the overall total budget and total
General for its expenses, and thus the gap between these two variables, allowing the ultimate quantification of the effect
This change in real terms.
1.3 Analysis Hypotheses
The importance of simplistic hypotheses in mathematical analysis of phenomena and lingering is emphasized in the previous section
Nomic. The analysis in this paper is based on the following hypotheses:

 

A. Oil revenues contribute more than 50% of the public budget.
B. General budget expenditure consists of two categories of investment: expenditure on imported commodity items and payments
Cash abroad requires foreign exchange to be disbursed + expenditure on non-commodity-based paragraphs that take the form
Payment and internal/local monetary payments in Iraqi dinars (e.g., workers ' compensation, grants
Cash and currency-related pubic and public debt service, and welfare services.
V. The ratio of hypocrisy to total commodity supplies, payments and cash-outs is less than
About 50% of the overall total budget expenditure.
W. Imports of all commodity items from states that depend on the national currency and/or those that have installed
Their labour exchange rates for the Duwaller.
In order to facilitate the expression of the nomic of the constraint, the letter of the teralism will be used on
Nomic variables involved as shown below:
x = percentage change in the inverse of the auction exchange rate resulting from this exchange rate change by Y.
 R0 = Total general budget returns before the auction exchange rate changes.
R1 = General Total budget returns assuming the inverted change in the auction exchange rate by X.
Or0 = Oil for the general budget before the auction exchange rate changes.
Nor0 = non-oil for the general budget before the auction exchange rate changes.
E0 = General Total budget expenditure before changing the auction exchange rate.
E1 = Total general budget Expenditure assuming the inverted exchange rate change by X as a result
Change this exchange rate by a ratio of Y.

 

G0 = gap between total general budget returns and overall total expenditure (i.e., deficit or surplus in
General budget (before exchange rate change auction.
G1 = gap between total general budget returns and overall total expenditure (i.e., deficit or surplus in
General budget (assuming the reverse change in the auction exchange rate of X as a result of exchange rate change)
This is equal to Y.
W0 = payments and cash in Iraqi dinars for the general budget, i.e. general budget expenditure in dinars
On non-commodity paragraphs (e.g. workers ' compensation, grants, cash pools and
To service the internal public debt and welfare services (which by definition vary with exchange rate change)
Auction.
C0 = general budget expenditure on total imported commodity inputs, disbursements and cash
to the outside.
C1 = general budget expenditure on total imported commodity inputs, payments and cash
Outward assuming the reverse change in the auction exchange rate by X as a result of this exchange rate change
By the ratio of Y.
Based on the hypotheses at the beginning of this part of the paper, and using the symbols outlined, the place becomes an analysis
Measuring the effect of the change in the auction exchange rate on the overall total of the general budget and the overall total
Of their expenses, and the gap between them, according to the terms of the forced labour, described in sections 2.3 and 3.3 of this
Part of the paper.
2.3 Effect of the change in the auction exchange rate on both the general total and the general total
of its expenditures

 

According to the proposed symbols for the general budget and its components, it can be mathematically expressed for the general total
General budget returns before and after the change in the price of the auction exchange at the rate of x according to equations (2) and (3)
, respectively
(2)...... R0 = Or0 + nr0
(3)...... R1 = (1 + x) (ORO + nr0);
Consequently, the change in the overall total of the budget balances is the result of the reversed change in the auction exchange rate
X is expressed in terms of the following equation.
(4)...... (r1-r0) = or0 + Xoro + nr0-or0-nr0;
 That is,
(5)...... (r1-r0) = Xor0
And when you divide both sides of this equation 5 b R0
(6)..... (r1-r0) = x or0
 R0 R0
The equation (6) states that the price of the auction exchange is inverted/lower by x, as a result of the reduction/increase in exchange rate
The auction by Y, leading to a higher/lower overall total budget for the general balance of
The Aalnkhvad is at the inverse of the auction exchange rate multiplied by the contribution (i.e. weight) of the oil deposits in
Total general budget. And obviously from this equation, the rate of change in the overall total
The general budget is proportional to the rate at which the auction exchange rate has changed, and inversely with the rate of change
The auction exchange rate (not only) but also with the contribution of oil deposits in the general total to the budget. 

 

In addition, according to the proposed codes for general budget expenditures and their components, the overall total is mathematically expressed
For general budget expenses before and after the change in the price of the auction exchange at the rate of x according to the equations (7) and (10)
As indicated below
(7).... E0 = W0 + C0
(8).... E1 = W0 + C1 to be

And that
(9).... C1 = C0 (1 + x)
 (10). ../1 = W0 + (1 + x) C0
Accordingly, the change in the overall total budget expenditure is the result of the change in the price of the auction Exchange
By a ratio of x expressed as follows:
(11)...... (E1-E0) = (W0 + C0 + xc0-w0-c0)
(12)..... (E1-E0) = xc0

And when you divide both sides of this equation, 11 b E0,
(13)....... (E1-E0) = x C0
 E0 E0
The equation (13) indicates that the upward/downward escalation of the auction exchange rate by X, as a result of the reduction/increase in exchange rate
This by the Y ratio. Leads to a change in the overall total budget expenditure by a ratio equal to the ratio of Aalnkhvad
At the inverse of the auction exchange rate multiplied by the weight of the total public budget expenditure on supplies
of imported goods, payments and cash-outs in the overall total budget expenditure.
It is clear from this equation that the overall total change in overall budget expenditure is proportional to the proportion 

 

Reverse change in the auction exchange rate and with the share of total budget spending on imported commodity inputs
and cash payments abroad in the overall total budget expenditure, AL it fits
Inversely with the rate of exchange rate change the auction.
Since C0 is less than 50% according to the hypothesis (3) and that Or0 exceeds the 50% according to hypothesis 1:
 R0 E0
A. The upward escalation of the auction exchange rate by X as a result of the exchange rate reduction by y means
(14)....................................................................... xor0
 RO E0
Bitter which means that lowering the auction exchange rate by a certain percentage leads to a higher overall total of returns
General budget at a higher rate than the overall total budget expenditure and thus the deficit recession
Budget or to increase its surplus or to shift the deficit to surplus depending on the state and the amount of the overall budget gap.
B-and that an upside down rate of x as a result of raising the exchange rate by y means that
(15)........................................................... xc0 > Xor0
 E0 RO
Elmer, which means that raising the auction price (i.e. an upside down exchange rate) in a certain proportion leads to a decline
4 Total general budget returns at a rate higher than the overall total expenditure rate
Consequently
The budget deficit expanded/or decreased its surplus/or the budget surplus shifted to deficit, depending on the status and amount
The general budget gap.

4
Since the ratio of x is negative in the inequality (15) The absolute value of the Yemen side of this inequality is greater than the absolute value
For her easy side.

 

Papers in monetary policy
Hatem Joujoj Hatem measuring the effect of changing the rate of exchange of the dinar towards the Doeller page
3.3 Impact of the auction exchange rate change on budget deficits
The gap can be expressed between the general total of the general budget and the overall total expenditure (which we will refer
From the onward to the general budget gap (before and after the auction exchange rate changes according to the equations) 16
and (17):
(16). ../R0-E0
(17)................. G1 = R1-E1
On this basis, the change in the gap resulting from the change in the auction exchange rate is expressed in terms of the equation.
(18)............. G1 – G0 = (r1-e1) – (R0-E0) = (r1-r0) – (E1-E0)
Assuming the inverse change of the auction exchange rate by X as a result of this exchange rate change by Y ratio
and using equations 5 and 12 to make up for R0-R1 and e0-e1, we're going to get
(19)................ G1 – G0 = xor0 – xc0 = x (or0-c0)
and dividing both sides of this equation by G0, we get the equation of the change in the gap caused by a reversed change.
Auction exchange rate
(20)................ G1-G0 = x (or0-c0)
 G0 G0
Equation (20) The percentage change in the gap between the overall total of the general budget and the overall total
Its expenses change by changing the inverse change of the auction exchange rate by X. It also emphasizes that the rate of change in
The gap also depends on the ratio of the difference between the oil revenues of the general budget and the total expenditure of the general balance
On imported commodity inputs, payments and cash to the outside world to the budget gap

 

Public before the auction exchange rate changes, that is, the ratio of c0-or0, which means that when the exchange rate changes upside down
 GO
The auction by a certain percentage, the absolute value of the gap change ratio is greater/smaller, the higher the absolute value
For c0-or0 higher/lower ratio; that is, this proportion occupies an important role in determining the degree of responsiveness of change in the gap
 GO
The general budget for the change in the auction exchange rate. Clearly, the absolute value of the change in the gap rate has
The absolute value of the change rate is equal to the inverse of the auction exchange rate if the absolute value of this percentage is taken
C0-or0 is a value equal to one; it is higher (or less) if the absolute value of this value is taken
 G0
Superiority (or less) than the one.
In addition to the above, the oil deposits are or0 in the Iraqi general budget before the auction exchange rate changes.
Typically, the total oil C0 exceeds imported commodity inputs, payments and cash to
The outside world before the auction exchange rate change, that is 0) > C0-or0. (This situation entails that the proportion
The change in the budget gap, as expressed in the equation (20), is negative in the case of a deficit in
The general budget before the exchange rate change the auction, i.e. when it is 0<G0؛ وتكون="" موجبة="" في="" حالة="" وجود="" فائض="" في="" الموازنة="" العامة="" قبل="" تغير="" سعر="" صرف="" المزاد،="" اي="" عندما="" تكون="" 0="">G0.
In the case<G0 ،أي عند وجود عجز في الموازنة العامة، فان ما ورد في الفقرة السابقة يسمح باالستنتاج
بان نسبة التغير في فجوة الموازنة تكون سالبة عند رفع مقلوب سعر صرف المزاد بنسبة x( اي تخفيض
سعر صرف المزاد بنسبة y ) وتكون موجبة عند تخفيض مقلوب سعر صرف المزاد بنسبة x( اي رفع
سعر صرف المزاد بنسبة y .) ويعني في ذلك انه عند قيام البنك المركزي العراقي بـ تخفيض سعر صرف  ،أي="" عند="" وجود="" عجز="" في="" الموازنة="" العامة،="" فان="" ما="" ورد="" في="" الفقرة="" السابقة="" يسمح="" باالستنتاج="" بان="" نسبة="" التغير="" في="" فجوة="" الموازنة="" تكون="" سالبة="" عند="" رفع="" مقلوب="" سعر="" صرف="" المزاد="" بنسبة="" x(="" اي="" تخفيض="" سعر="" صرف="" المزاد="" بنسبة="" y="" )="" وتكون="" موجبة="" عند="" تخفيض="" مقلوب="" سعر="" صرف="" المزاد="" بنسبة="" x(="" اي="" رفع="" سعر="" صرف="" المزاد="" بنسبة="" y="" .)="" ويعني="" في="" ذلك="" انه="" عند="" قيام="" البنك="" المركزي="" العراقي="" بـ="" تخفيض="" سعر="" صرف=""> </G0 ،أي عند وجود عجز في الموازنة العامة، فان ما ورد في الفقرة السابقة يسمح باالستنتاج
بان نسبة التغير في فجوة الموازنة تكون سالبة عند رفع مقلوب سعر صرف المزاد بنسبة x( اي تخفيض
سعر صرف المزاد بنسبة y ) وتكون موجبة عند تخفيض مقلوب سعر صرف المزاد بنسبة x( اي رفع
سعر صرف المزاد بنسبة y .) ويعني في ذلك انه عند قيام البنك المركزي العراقي بـ تخفيض سعر صرف > of 0</G0؛>

 

Papers in monetary policy
Hatem Joujoj Hatem measuring the effect of changing the rate of exchange of the dinar towards the Doeller page
The auction in a certain percentage, the deficit of the Iraqi public budget is necessarily receding, and the budget deficit inevitably expands
When the auction exchange rate is raised.
In the same vein, in the case of 0 > G0, that is, when there is a surplus in the general budget, the rate of change in
The budget gap is positive when the auction exchange rate is raised upside down by x (i.e. lowering the auction exchange rate
by y) and be negative when you lower the inverse of the auction exchange rate by X (i.e. raise the auction rate by
Y.) This means that when the central bank of Iraq reduces the auction exchange rate, it is certain that
The general budget surplus is expanding; the general budget surplus is certainly to be reversed when the central bank
To raise this exchange rate.
Summing up the two preceding paragraphs:
-the ratio of impairment in the deficit, or the rate of expansion of the surplus, when the auction exchange rate is reduced
be larger/smaller whenever the absolute value of the ratio (C0-OR0) is higher/lower.
G0
-The rate of expansion of the deficit, or the percentage of the surplus in excess, when the auction exchange rate is raised is
larger/Smaller the higher the absolute value of the ratio (C0-OR0) than the highest/lowest.
G0
4. Case study: Employ the results of mathematical analysis Alhatsab and measure the effect of lowering the auction rate on
General budget gap with the adoption of data for the year 2016
It is natural that the picture clarified better when it is said than the stripping of mathematical/algebraic events into reality
Digital. In this part of the paper, therefore, the effect of lowering the auction exchange rate will be examined by 09.9%
000084033.0 Deller per dinar to 000076394.0 per dinar for the general total
To the general budget and total expenditure and the gap resulting from the disparity between them. The reduction is offset 

 

The auction exchange rate is at an inverted altitude of 10%, i.e. from 1190 dinars to
1309 dinars for the Dueller.
and to ensure that these are filled with realistic echoes and the operation Val is for the digitization that depends to vaccinate these abstractions
Sports/algebraic that reflect the actual reality in a clear, useful and reliable way. It becomes necessary, therefore, to resort
To simplistic hypotheses that bring the actual data available from the definitions of indicators nomic but without aalkhall
For the analysis and its conclusions. Because of the lack of data on the nomic variables that I have analyzed
The mathematical of this paper the following hypotheses were envisaged to approximate the available digitization of the definitions of these variables:
A. The contribution of mineral resources (excluding crude oil) to the general budget income is equal to zero.
B-75% of the crude oil is a direct import of commodities or a capital number and 25%
The remaining covers the compensation of the employees and the Rabah.
V. The entire hypocrisy of welfare, grants and takes the form of internal monetary balance.
W. Excluding compensation for workers, grants, and pubic and domestic public debt and welfare services
and 25% of the state of the government, the remainder of the total budget expenditure is spent entirely
On the direct payment of commodity items and on payments and cash disbursements abroad;
C. The deficit, income and expenditure of the general budget are similar to those of 31 December 2016.
H. The full import of the general budget is from States that use the Duwaller as a national currency or have fixed exchange rates
Her employment towards the Duwaller.
The full balance of the general budget and cash payments abroad is to be used by countries that use the doeller as their currency
National or its labour exchange rates have been stabilized towards the Duwaller.
Based on these hypotheses and with the adoption of the data of tables (1) and (2):
Papers in monetary policy

 

 R0 = Total general budget returns before the auction exchange rate is reduced = 270.54409 billion
Dinar
 ORO = Oil for the general budget before the auction exchange rate is reduced = 063.44267 billion dinars
E0 = Total general budget expenditure before the auction exchange rate is reduced = 437.67067 billion dinars
C0 = general budget expenditure on import of commodity supplies and on payments and cash to
Abroad before the auction exchange rate is reduced = 858.14395 billion dinars
 G0 = deficit in the general budget before the auction exchange rate is reduced = 167.12658 billion dinars
IQD 29871.200 billion = OR0 – C0
-2.3598 = or0-c0
G0
0.8136 = Or0
RO
0.2146 = C0
E0
By relying on the part of the section, lowering the auction exchange rate by% 09.9 will result in:
The general budget  increased by 14.8%, which amounts to 915.4428 billion dinars.
 The overall budget expenditure was 15.2%, which is 950.1441 billion dinars.
The general budget deficit  by 60.23%, which is 110.2987 billion dinars.
 the percentage of the general budget deficit (60.23)% exceeded significantly the rate of exchange rate reduction
(09.9)% and the exchange rate is inverted (10.) %
Table 1.
Classification Aalkotsadi Hypocrisy general budget for the period 2014-2016 (IQD 1 million)

 

(according to the December data of each year)
Paragraph hypocrisy
2014 2015 2016
Average
Period
-2014
2016
% hypocrisy class% hypocrisy class hypocritical%
Employees compensation 28437628 34.4 32651615 46.38 31833403 47.46 42.75
Commodity Supplies 1654602 2 581345 0.83 680754 1.02 1.28
SOA supplies 3648866 4.41 1658179 2.36 1241905 1.85 2.87
Assets Maintenance 533342, 426198, 0.61, 327165, 0.49 0.58
Capital expenditure 466646 0.56 164502 0.23 95792 0.14 0.31
Religion, service and grants 9380852 11.35 4708134 6.69 6514056 9.71 9.25
and contributions 139621 0.17 138898 0.2 78196 0.12 0.16
Special software 24 0 56056 0.08 50370 0.08 0.05
The isocial care 14363878 17.38 11447912 16.26 10350617 15.43 16.36
Current expenditure total 58625459 70.93 51832839 73.63 51173428 76.3 73.62
The oil 24030767 29.07 18564676 26.37 15894009 23.7 26.38
Total compensation for workers
+ Scholarships and Services
Religion + Healthcare +
25 ٪من
58190049.75 70.40 53448830 75.92 52671578.25 78.54 74.95
Total general budget expenditure
Excluding the expenses mentioned in
Previous line
24466176.25 29.60 16948685 24.08 14395858.75 21.46 25.05
General total expenditure
General budget 82656226 100 70397515 100 67067437 100 100
* The central Bank of Iraq, the annual quarterly newsletter for the years 2015, 2014 2016 is available on the following website:
http://www.cbi.iq/documents/annual_, 2014, 2015, 2016 fpdf

 

Papers in monetary policy
Hatem Jugg Hatem measuring the effect of changing the rate of exchange of dinars towards the Doler page 20 of 23
The main findings of this research paper are summarized as follows:
(a) The Iraqi public budget has a certain specificity that makes the side of the country more vulnerable to changes in the price
The auction is disbursed by expenses. This privacy derives from the fact that the share of the paragraphs that are affected
Their values directly at the auction exchange rate in the general total for general budget returns are much greater than the share
The expenditure paragraphs that are affected by the auction exchange rate in the overall total budget expenditure.
B. It follows from the preceding paragraph that the reduction (lifting) of the auction exchange rate by a certain percentage would result in
Altitude (decline) total general budget returns at a rate higher than the rate of decline (total)
General budget expenditure and thus to the decline (expansion) of the budget deficit or to an increase (decrease)
Surplus or the deficit shifted to surplus (surplus to deficit) depending on the status and amount of the budget gap
.
C. degree (severity or weakness) of the gap between the overall total budget and overall total
Its expenses to a change in the auction exchange rate depends on the difference between the total balance of oil deposits
and total public budget expenditure on imported commodity inputs, imports and disbursements
Cash to the outside world before exchange rate changes attributable to the general budget gap before exchange rate changes
What about the ratio
C0-or0. This, of course, means that the degree (severity or weakness) of the overall budget deficit is affected by a change in
GO
At the auction exchange rate depends on this ratio.
In accordance with the assumptions adopted by the paper, which are close to the reality of the Iraqi general budget, the reduction
The auction rate (09.9)% leads to a decrease in the general budget deficit for 2016 by approximately
(6.2) Double the rate of depreciation of the auction. According to the general budget data for the year 2016, this
The reduction in the auction exchange rate would reduce the deficit by 167.12658 billion dinars 


Almost double the hypocrisy of that year. This means that the lowering of the auction rate by 09.9 per cent in 2016 would have given the opportunity to increase the price of oil to a third by the actual level of the oil deficit in that year without increasing the shortfall. In other words, lowering the auction rate by 09.9% would have provided the possibility of speeding up the development construction and expanding the job opportunities at a high rate, without the need to expand the general budget deficit or the internal or external costs more than in that year. C. Based on the above, and in particular on paragraph (w), the specificities of Iraq's general budget are given to the "price reduction of the auction" important returns that effectively contribute to the recovery of the nomic development process in Iraq from its current stagnation. And this bitter call to avoid sacrificing such a humiliation As the formulation of an integrated system of policies 6 puppies on the altar of "local stability" aimed at accelerating the process of nomic and reconstruction in Iraq. (*) A researcher and an Iraqi economist specializing in monetary policy published rights reserved for the Iraqi Aalktsadeyen network. The BAAALDH allows for the requirement to be added to the source. 18 August 2018 Http://iraqieconomists.net/ar/6 The author of this paper prepares a study in which this point is discussed in extensive detail

 

Papers in monetary policy
Hatem Joujoj Hatem measuring the effect of changing the rate of exchange of the dinar towards the Doeller page
Annex A
Lingering between the rate of change in the exchange rate and the rate of change upside down
E0 = exchange rate before change
E1 = exchange rate after change
y = rate of change in exchange rate
x = percentage change in the inverse of the exchange rate
Using these codes, the rate of change in the exchange rate Y is equal to
(E1 – E0)
E0
The rate of change in the inverse of the exchange rate X is equal to
(1/E1 – 1/E0)
(1/E0)
This in turn is equal to
E0 (E1 – E0) which can be redrafted to
E1 E0
-(E1 – E0). E0
 E0 E1
Papers in monetary policy

 

23
And it is useful from the good equation that the rate of change in the inverse of the exchange rate is equal to minus the rate of change in
Exchange rate multiplied by the exchange rate before changing it to the new exchange rate (that is, after changing it by Y)
That is,
x =-Y.e0
E1
The change in exchange rate is equal to the rate of change in the inverse of the exchange rate multiplied by the exchange rate
The new (that is, after you change it by Y) to the exchange rate before you change it. That is,
Y =-X.e1
E0

http://iraqieconomists.net/ar/wp-content/uploads/sites/2/2018/08/Hatim-G.-Hatim-Measurment-of-the-effect-of-changes-in-exchange-rate-of-IQD-final.pdf

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32 minutes ago, Butifldrm said:

Exchange rate multiplied by the exchange rate before changing it to the new exchange rate 

 

This all sounds interesting...  But I don’t speak math, and I really don’t understand Iraqlish math 😆. I’m sure all the clever minds here at DV will translate this 👍🏻  Looking forward to everyone’s take on this. 

 

Thanks a million Butifldrm!! :tiphat:

 

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You guys remember when the economist were talking about meating the budget deficits in 2016 and 2017 by decreasing the value of the Dinar?  Well this guy is one of those.  He is going into great detail to explan the math of how that would work.  Well, I need to analyse more, but with oil prices well above the budgeted price IMO the math should work in the reverse.  Meaning an icrease in the value.  Here, even though very arabish is stating what I believe he is saying

 

Papers in monetary policy
Hatem Joujoj Hatem measuring the effect of changing the rate of exchange of the dinar towards the Doeller page
The auction in a certain percentage, the deficit of the Iraqi public budget is necessarily receding, and the budget deficit inevitably expands
When the auction exchange rate is raised.
In the same vein, in the case of 0 > G0, that is, when there is a surplus in the general budget, the rate of change in
The budget gap is positive when the auction exchange rate is raised upside down by x (i.e. lowering the auction exchange rate
by y) and be negative when you lower the inverse of the auction exchange rate by X (i.e. raise the auction rate by
Y.) This means that when the central bank of Iraq reduces the auction exchange rate, it is certain that
The general budget surplus is expanding; the general budget surplus is certainly to be reversed when the central bank
To raise this exchange rate.

 

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38 minutes ago, pokerplayer said:

Whewww !!! That was a brain twister for sure. Thxs Buti.

 

  pp

Wheeewwww is right!!  Okay I’ll  admit, I got 2/3rds of the way through before I threw in the towel!😂🤣😂🤣 Thx for the condensed version Buti!!

Edited by CSM (R) Thackrey
Edit
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25 minutes ago, Butifldrm said:

You guys remember when the economist were talking about meating the budget deficits in 2016 and 2017 by decreasing the value of the Dinar?  Well this guy is one of those.  He is going into great detail to explan the math of how that would work.  Well, I need to analyse more, but with oil prices well above the budgeted price IMO the math should work in the reverse.  Meaning an icrease in the value.  Here, even though very arabish is stating what I believe he is saying

 

Papers in monetary policy
Hatem Joujoj Hatem measuring the effect of changing the rate of exchange of the dinar towards the Doeller page
The auction in a certain percentage, the deficit of the Iraqi public budget is necessarily receding, and the budget deficit inevitably expands
When the auction exchange rate is raised.
In the same vein, in the case of 0 > G0, that is, when there is a surplus in the general budget, the rate of change in
The budget gap is positive when the auction exchange rate is raised upside down by x (i.e. lowering the auction exchange rate
by y) and be negative when you lower the inverse of the auction exchange rate by X (i.e. raise the auction rate by
Y.) This means that when the central bank of Iraq reduces the auction exchange rate, it is certain that
The general budget surplus is expanding; the general budget surplus is certainly to be reversed when the central bank
To raise this exchange rate.

 

Now that I have looked in more detail I truly believe he is talking about pegging the exchange rate of the Dinar to the Price of oil since oil is responsible for over 50% of the revenues.  This would make the exchange rate float with the price of oil. This would prevent both Budget deficits and surpluses. 

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1 hour ago, Butifldrm said:

The GNU is calculated or expressed in local currency or the amount of the local currency alalzmah to buy/sell a single unit of currency

 

1 hour ago, Butifldrm said:

The auction exchange rate is at an inverted altitude of 10%, i.e. from 1190 dinars to 1309 dinars for the Dueller.

 

1 hour ago, Butifldrm said:

This means that the lowering of the auction rate by 09.9 per cent in 2016 would have given the opportunity to increase the price of oil to a third by the actual level of the oil deficit in that year without increasing the shortfall. In other words, lowering the auction rate by 09.9% would have provided the possibility of speeding up the development construction and expanding the job opportunities at a high rate, without the need to expand the general budget deficit or the internal or external costs more than in that year.

 

So, OK, I'll take a stab at this.

 

I am not sure what GNU stands for but possibly Gross Numerical Unit. Looking at the rest of the paper, I surmise this outlines the general structure and specifics for the real time algorithm for calculations internal to Iraq. I suspect keeping everyone paid and, possibly, having all the customs issues at the borders applied is critical to maintaining real time mathematical stability for the algorithm while critically important to have an online and real time e-government in place for the smooth and timely piping of data to the algorithm.

 

The 10% rate change is related to the year 2016. Since the year 2016 is the last one noted, I suspect this paper was drafted and finalized over a year ago. So the shift from 1,160 to 1,309 was a back cast of "what if" since the real time data or the projections in oil prices was unavailable during 2016.

 

So, hence the last quoted statement as a "could have been" but was not applied since all the data and the implications was not on hand AND ISIS still needed to be dealt with and the necessary e-government still needed to be completed.

 

I am still stuck on the GNU. If GNU is Gross Numerical Unit, the paper does not detail in absolute terms how to drop out the Iraqi Dinar exchange rate vs. the USD or SDR or whatever. I suspect the GNU is a whole another thing and the algorithms may be in place to determine this real time in relation to other tradeable currencies but the switch has not been made. For now, potentially, the GNU is a specific controlled ultra low program rate value.

 

1 hour ago, Butifldrm said:

The auction in a certain percentage, the deficit of the Iraqi public budget is necessarily receding, and the budget deficit inevitably expands
When the auction exchange rate is raised.

 

This here (and other places in the article) makes me think this is in reference to a "closed economy" dependent on the CBI weekday daily currency auctions to pay foreign remittances in USD indicating the Iraqi Dinar is not exchanged internationally.

 

I suspect all of this will be relevant once the Iraqi Dinar is ReInstated/ReValued and will be necessary for determining the real time value of the Iraqi Dinar vs. other currencies once the Bicraqi Iraqi release the Bicraqi Iraqi Dinar Bicraken.

 

Once the new Parliament gets seated, the 2019 budget development and ratification could also indicate an urgency for establishing parameters necessary to stabilize the algorithms with known flux of revenue and payments.

 

I do think this is a timely article to get the Bicraqi Iraqi to think on changes in the Bicraqi Iraqi Dinar relative value and PURCHASE POWER!!!

 

Just my conjecture, thoughts, opinion, and :twocents: for whatever THAT is worth!!! CAVEAT EMPTOR, Reader!!! :o

 

Thank You for the article, Butifldrm, AND The Best Of Your Weekend To You!!! :tiphat:

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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Well, I read the whole thing.  Do economists really talk like that?  If so, who understands what they say besides other economists?

 

I found this part interesting:

An administrative decision to set an official exchange rate for the Iraqi dinar for the only dollar. The term price is used
Cashing the window or auction of the Central Bank of God on this official exchange rate. 

 

I found this part really insulting:

This part of the paper uses simple math that goes beyond the algebraic standards taught to middle-school students.

 

😂 😂 😂

 

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59 minutes ago, Synopsis said:

 

 

 

So, OK, I'll take a stab at this.

 

I am not sure what GNU stands for but possibly Gross Numerical Unit. Looking at the rest of the paper, I surmise this outlines the general structure and specifics for the real time algorithm for calculations internal to Iraq. I suspect keeping everyone paid and, possibly, having all the customs issues at the borders applied is critical to maintaining real time mathematical stability for the algorithm while critically important to have an online and real time e-government in place for the smooth and timely piping of data to the algorithm.

 

The 10% rate change is related to the year 2016. Since the year 2016 is the last one noted, I suspect this paper was drafted and finalized over a year ago. So the shift from 1,160 to 1,309 was a back cast of "what if" since the real time data or the projections in oil prices was unavailable during 2016.

 

So, hence the last quoted statement as a "could have been" but was not applied since all the data and the implications was not on hand AND ISIS still needed to be dealt with and the necessary e-government still needed to be completed.

 

I am still stuck on the GNU. If GNU is Gross Numerical Unit, the paper does not detail in absolute terms how to drop out the Iraqi Dinar exchange rate vs. the USD or SDR or whatever. I suspect the GNU is a whole another thing and the algorithms may be in place to determine this real time in relation to other tradeable currencies but the switch has not been made. For now, potentially, the GNU is a specific controlled ultra low program rate value.

 

 

This here (and other places in the article) makes me think this is in reference to a "closed economy" dependent on the CBI weekday daily currency auctions to pay foreign remittances in USD indicating the Iraqi Dinar is not exchanged internationally.

 

I suspect all of this will be relevant once the Iraqi Dinar is ReInstated/ReValued and will be necessary for determining the real time value of the Iraqi Dinar vs. other currencies once the Bicraqi Iraqi release the Bicraqi Iraqi Dinar Bicraken.

 

Once the new Parliament gets seated, the 2019 budget development and ratification could also indicate an urgency for establishing parameters necessary to stabilize the algorithms with known flux of revenue and payments.

 

I do think this is a timely article to get the Bicraqi Iraqi to think on changes in the Bicraqi Iraqi Dinar relative value and PURCHASE POWER!!!

 

Just my conjecture, thoughts, opinion, and :twocents: for whatever THAT is worth!!! CAVEAT EMPTOR, Reader!!! :o

 

Thank You for the article, Butifldrm, AND The Best Of Your Weekend To You!!! :tiphat:

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

 

Okay, Synopsis, I just read your post.  So you understood that article?

 

SHOW OFF!!!!!!!!  😂 😂 😂

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1 hour ago, Synopsis said:

 

 

 

So, OK, I'll take a stab at this.

 

 

 

Synopsis,

 

I remembered something I read in the article and went back and searched for it.  What, if anything do you think this means?

 

"According to the approved course in determining the route of the dinar exchange rates for the Omani currency, the central bank is responsible
An administrative decision to set an official exchange rate for the Iraqi dinar for the only dollar. The term price is used
Cashing the window or auction of the Central Bank of God on this official exchange rate."

 

(The Omani Rial is $2.60 to the dollar.  I just checked.)

Edited by Floridian
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Evening everyone. Wow took the long way around on that one. It seems as though this economist was making a case for devaluing the dinar against the dollar at the auction window, by 9.9%, making the exchange rate around 1300/1 from the 1190/1 that it is now. He goes on to back it up with the additional dinars that would be received from the CBI based on the 9.9% devaluation of the dinar. 

That makes sense because the CBI will be getting an extra 110 dinar per dollar. The only problem I see with that is that it lowers the purchasing power so the local people will pay more for everything. 

 

however when making the government payroll the people get the same amount of dinars but it only cost the government 90% of the total cost post devaluation. 

 

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5 minutes ago, mr.unlikely said:

Evening everyone. Wow took the long way around on that one. It seems as though this economist was making a case for devaluing the dinar against the dollar at the auction window, by 9.9%, making the exchange rate around 1300/1 from the 1190/1 that it is now. He goes on to back it up with the additional dinars that would be received from the CBI based on the 9.9% devaluation of the dinar. 

That makes sense because the CBI will be getting an extra 110 dinar per dollar. The only problem I see with that is that it lowers the purchasing power so the local people will pay more for everything. 

 

however when making the government payroll the people get the same amount of dinars but it only cost the government 90% of the total cost post devaluation. 

 

 

Oh boy!  We sure don't want that.  ☹️

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2 hours ago, Butifldrm said:

Now that I have looked in more detail I truly believe he is talking about pegging the exchange rate of the Dinar to the Price of oil since oil is responsible for over 50% of the revenues.  This would make the exchange rate float with the price of oil. This would prevent both Budget deficits and surpluses. 

Just got on line now. I wrote about this awhile back. By tieing it to oil you take out the massive swing in rate. This allows for long turn planning. 

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1 hour ago, Floridian said:

 

Okay, Synopsis, I just read your post.  So you understood that article?

 

SHOW OFF!!!!!!!!  😂 😂 😂

 

:lmao:   :lmao:   :lmao: Floridian, AND The Best Of Your Weekend To You!!! :tiphat:

 

Hey, remember, I did say I could be a nut case or somethin'!!! :o

 

I was doing my best to understand the parameters for the article rather than try to figure out the exact structure and application of the article. In a general sense, it did support my assumption for complex and real time algorithms.

 

So, to answer Your question, No, I do not understand that article in entirety. I do think, though, the substance of the article is premised on a Iraqi Dinar program rate and referenced a post 2016 assessment of "what if".

 

Sorry!!!

 

:blush:   :blush:   :blush:

 

CRUDE OIL Oct 2018 (E) Future

New York Mercantile Exchange  CRUDE OIL Oct 2018 (E) (NYMEX:CL.V18.E)

65.21 +0.31 (+0.48%)

2018-08-17 14:34:32, 30 MIN DELAY

CRUDE OIL Oct 2018 (E) (NYMEX:CL.V18.E) Future Chart

 

http://quotes.ino.com/charting/index.html?s=NYMEX_CL.V18.E&t=&a=&w=&v=dmax

 

Here, for example, is how the oil price fluctuated for the last half of 2016 and about the same average value through 2017. So, implementation of the reconstruction as the article noted, would have been problematic for 2017, too. With the oil prices averaging $10/barrel or so for 2018, the crude oil market environment for a potential Iraqi Dinar INTERNATIONAL rate appears to be much better in my opinion. I still think the Iraqi Dinar rate will need to change before or in the very early stages of the reconstruction, construction, economic development, and foreign investment to prevent severe imbalances down the road that could rock the world economy at least somewhat.


 

1 hour ago, Floridian said:

 

Synopsis,

 

I remembered something I read in the article and went back and searched for it.  What, if anything do you think this means?

 

"According to the approved course in determining the route of the dinar exchange rates for the Omani currency, the central bank is responsible
An administrative decision to set an official exchange rate for the Iraqi dinar for the only dollar. The term price is used
Cashing the window or auction of the Central Bank of God on this official exchange rate."

 

(The Omani Rial is $2.60 to the dollar.  I just checked.)

 

I dunno on this one. There may have been test currencies used for evaluation to gauge the stability of the program rate suggested by the algorithm compared to other currencies such as the Omani currency. Some of the current articles suggest JD that I have no idea what they are doing if they are referencing Iraqi Dinar numbers with Jordanian Dinar currency.

 

XE Currency Converter: USD to JOD

 
 
 
1 USD =0.709000JOD
US Dollar1 USD = 0.709000 JOD
Jordanian Dinar1 JOD = 1.41044 USD
https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=JOD
 

XE Currency Converter: USD to OMR

 
 
 
1 USD =0.384500OMR
US Dollar1 USD = 0.384500 OMR
Omani Rial1 OMR = 2.60078 USD

2018-08-18 23:04 UTC

 

https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=OMR

 
Maybe they are considering a Jordanian Dinar range ReInstatement/Revaluation???!!! Hey, I like the Omani Rial ReInstatement/ReValue range much mo bettah!!!
 
Well, OK, just my conjecture, thoughts, opinion, and :twocents: for whatever THAT is worth!!! Hey, i could be a nut case or somethin'!!! CAVEAT EMPTOR, Reader!!! :o
 
In The Mean Time..............................................................
 
Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!
:rodeo:   :pirateship:
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Inverse relations. U have two currencies(iqd peg to the dollar). If u increase the dollar...i.e. by getting more at the auctions, u have stabilize or decrease the rate of change in the iqd..thus the value of the iqd is devalued. Inversely, if the demand for the iqd increases and the selling price at the auction lowers..u will have the revaluation of the iqd..even more good news is that as the oil price increase...surplus comes in and more value to the iqd in return

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 lower the sell of the dollar at the auction(so low to the point that CBI will make changes to the exchange rate in a positive value(rv). Inversely, if the dollar increases in sell, u will see CBI changes its rate in a negative value for the iqd(this was what happened to the rate recently from 1184 to 1190). Now, the oil n other revenues will also play a crucial rule to the exchange rate. When oil goes up in price and other revenues, these will combine into the equations that this guy talked about(exchange rate times the exchage rate because there are multiple factors to take into account when dealing with the exchange rate(not just the auction)

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When u see a very low auction sell in dollars(if even possible stopping it, a higher price in oil, and surpluses in other revenues, u can bet on an rv taking place. What we see in the news, all good for the rv to take place....if i were the CBI governor, i wont even have to wait for these knuckleheads in the govt to settle down...i would simply press that rv button(this is just me of course, lol)

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