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Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries


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The central bank reveals the amount of cash and gold reserves currently in Iraq

17:31 - 15/11/2018
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revealed the Central Bank of Iraq, Thursday, total printed from the Iraqi currency in the whole country, which is estimated at 40 trillion dinars, noting that Iraq has reserves of foreign currency and gold is estimated at more than $ 60 billion. 
"Iraq has plans and strategies that it is working on periodically to make adjustments to the currency and pull out the damaged from public markets and replace it with a new one," said Central Bank spokesman Bassem Abdulhadi. 
He added that "the total Iraqi currency printed in the public market, banks and coffers of the bank up to 40 trillion Iraqi dinars," noting that "there is no intention at the present time to issue any new category and existing categories that cover the need of local Iraq."
He said that "the total reserves of the Bank of foreign currency and gold is estimated at more than 60 billion dollars," noting that "this figure is variable and depends on Iraqi oil exports to decline and rise.

https://www.almaalomah.com/2018/11/15/364615/

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This thread has taken a nose dive - any chance we can get back to the issues of delete the zeros instead of arguing over religion. All religion is evil in my book and all religions have caused atrocit

MODS please move if already posted as I have not seen this yet     pp   Governor of the Central Bank of Iraq: We plan to delete zeros from the local currency The governor of the

My friend you know I respect you so please don't take this the wrong way but Islam is a Satanic Religion. 

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1 hour ago, slb said:

there is no intention at the present time to issue any new category and existing categories that cover the need of local Iraq."

 Thought they were issuing new 1K notes  etc. ?

Talking out both sides of their mouths to create confusion for speculators? Just my thoughts

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http://www.iraaqi.com/news.php?id=38117&news=1#.W-3eXEZMFdb.........

 
.. The central bank reveals the amount of cash and gold reserves currently in Iraq
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The Central Bank of Iraq, on Thursday, the total printed from the Iraqi currency throughout the country, which is estimated at 40 trillion dinars, indicating that Iraq has reserves of foreign currency and gold estimated at more than 60 billion dollars. 
"Iraq has plans and strategies that it is working on periodically to make adjustments to the currency and pull the damaged from public markets and replace it with a new one," said a spokesman for the central bank, Bassem Abdul Hadi. 
He added that "the total Iraqi currency printed in the public market, banks and coffers of the bank up to 40 trillion Iraqi dinars," noting that "there is no intention at the present time to issue any new category and existing categories that cover the need of local Iraq." 
He said that "the total reserves of the bank from foreign currencies and gold is estimated at more than 60 billion dollars," noting that "this figure is variable and depends on Iraqi oil exports to decline and rise."

 

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This interesting news article is Reminiscent of Marilyn Monroe’s famous standing over the steam grate trying to keep her dress from being blown up around her head as the audience is no doubt titilated by that oh so naughty “ updraft “. 

 

The CBI is letting the press lift her skirt up just so far.....as we cry out MORE ( as in give us the damn RI/RV ).

 

The CBI is such a tease.

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This lets us know that there IS NOT 40 trillion dinars in circulation.....as MANY are suggesting!  This amount represents 3 different ways this hard currency is held, in the public market, the banks, and bank coffers.  This info is really good for us....it would be interesting to know the percentages of all 3.  

Edited by Early Retirement
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1 hour ago, Uckiller said:

there is no intentionat the present time to issue any newcategory and existing categori

 

So what about news before this mentioning replacement note 1k,500,250?

Exactly...I don’t believe a word they say.. we are just waiting for them to activate the initiative ... which is already on their website.. and where are those new notes with buddy’s signature on it? ...... go RV anytime imo cheers 

Edited by 6ly410
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Sorry...but the article literally states twice there is 40 trillion printed.

 

Botzwana.....you are correct it does say 40 trillion dinars are printed BUT it does NOT say 40 trillion are in circulation!!  

 

He added that "the total Iraqi currency printed in the public market, banks and coffers of the bank up to 40 trillion Iraqi dinars,"

 

The article clearly states who is holding the 40 trillion.....the public holds part of the 40 trillion dinars, the banks hold part of the 40 trillion dinars, and the bank coffers holds part of the 40 trillion....

 

so my statement that 40 trillion dinars are NOT in circulation is CORRECT!!

 

Thanks, Forum Cancer.......

Edited by Early Retirement
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Let’s say they have 40 trillion IQD in circulation NOT 43 like the mentioned in another article.

40 trillion IQD/ 1190 = $33.6 billion dollars 

$60 billion dollars in reserves / $33.6 billion dollars $1.78 

$1.78 dollars per dinar

 

Go CBI 

Go RV

Go $1:1+

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I am lost for words news are awesome.. exactly what you would think they  would do right before  the RV.. unclear conflicting negativ news making it look like nothing is happening.. lol .. good that I saved my screenshots haha let’s gooooo RVVV!!!

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24 minutes ago, Laid Back said:

Let’s say they have 40 trillion IQD in circulation NOT 43 like the mentioned in another article.

40 trillion IQD/ 1190 = $33.6 billion dollars 

$60 billion dollars in reserves / $33.6 billion dollars $1.78 

$1.78 dollars per dinar

 

Go CBI 

Go RV

Go $1:1+

I assume this is based on the Core math system...the old real system I was raised on has $71.2 Trillion dollars as the actual answer.

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It will subtracte large quantities of small categories to meet the need for daily transaction..e.t.c....    and then this 

2 hours ago, 6ly410 said:

noting that "there is no intention at the present time to issue any new category and existing categories that cover the need of local Iraq

 

Edited by 6ly410
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On 11/15/2018 at 7:02 PM, itanimulli said:

I assume this is based on the Core math system...the old real system I was raised on has $71.2 Trillion dollars as the actual answer.

itanimulli, thanks for your input.

I based my calculations in the latest news articles from the CBI.  can you be a little more specific about the $71.2  trillion dollars? Thanks.!

 

Go CBI

Go RV asap

Go $1:1+

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On 11/15/2018 at 9:39 AM, Butifldrm said:

"there is no intention at the present time to issue any new category and existing categories that cover the need of local Iraq."

I am probably reading too much into this statement but, are the new that have been issued and the existing just for local?

What about international?

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October 24, 2018
Statement issued by the Board of Directors of the Central Bank of Iraq

 

   In line with the development of the democratic process in Iraq and the resulting rotation of the authorities in a positive and stable atmosphere, the Central Bank of Iraq looks forward to continue to play its pivotal role in building the state to improve the financial and economic situation in Iraq. This optimism is supported by a strong financial reserve exceeding US $ 60 billion as a result of the fiscal and monetary policies adopted by the Central Bank over the past years to stabilize the general financial situation, especially in 2014 and the years that followed, with financial conditions at their lowest levels. These years, which brought data threatened the ability of the state to cover the operational expenses and salaries of employees. However, despite the difficult circumstances of low oil prices and the high cost of Iraq's war against the terrorist campaign to liberate its territory, the central bank continued to manage the country's reserves sufficiently to meet international standards and to strengthen the country's financial capabilities Not less than (16) trillion dinars in the form of remittances discounted, which led to support financial stability and contribute effectively to overcome the crisis. As a continuation of the central role of the central bank as a pillar of the country's economy, a positive improvement in oil prices coupled with sound fiscal and monetary policies will enable the Iraqi government to pay early remittances and increase the value of reserves to higher levels. The central bank's monetary policy will continue to play an active role in maintaining exchange rates and reducing the gap between official and market prices under highly complex internal and external circumstances. This is in addition to playing a central role in controlling the inflation rate and reaching the low levels of less than (1%) to maintain the general level of prices and attract investment. As the central bank ensures the safety of the financial system, it will continue to play this role and more effectively in the next phase as the bank of the State to promote the Iraqi economy and support for reconstruction and investment efforts, which was the implementation of the largest lending initiative for the housing sector has exceeded two trillion dinars and other lending programs .

Board of Directors

     Baghdad

2018/10/24

https://cbi.iq/news/view/905

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  • yota691 changed the title to Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries

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