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ronscarpa

No CBI Daily Auction Again - Wednesday - 4/01/2020

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Any day without auctions is a step closer to what we seek. However, the Coved-19 pandemic makes the purpose this time a bit cloudy.

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A big jump for the dollar in Iraq

 

A big jump for the dollar in Iraq
 
 

01/04/2020 14:18:22
 
 
 
Foreign currency markets in Iraq recorded, today, Wednesday, a jump in the exchange rate of the US dollar against the Iraqi dinar.

 

The selling and buying prices of the dollar in banking companies and offices are as follows:

The selling price of one dollar is 1255 dinars, or 125 thousand and 500 dinars per hundred dollars.

The purchase price of the dollar is 1245 dinars, or 124 thousand and 500 dinars per hundred dollars.

The dollar exchange rate in Duhok Governorate increased to 1242 dinars, or 124 thousand and 200 dinars per hundred dollars.

The banking offices in Kirkuk Governorate recorded a rise in the dollar, reaching 1245 dinars, or 124 thousand and 500 dinars, for one hundred dollars.

It is noteworthy that these prices are not official due to the closing of the Al-Kifah Stock Exchange due to the curfew sanitary ban on the prevention of corona virus.
 
Edited by DinarThug
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Hey THUG,  

Good Stuff !   Where can I get a copy of a

"gifting assignment or gifting letter" Template ?

 

GO RV

God Bless

renomac

 

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40 minutes ago, DinarThug said:

LINK

A big jump for the dollar in Iraq

 

A big jump for the dollar in Iraq
 
 

01/04/2020 14:18:22
 
 
 
Foreign currency markets in Iraq recorded, today, Wednesday, a jump in the exchange rate of the US dollar against the Iraqi dinar.

 

The selling and buying prices of the dollar in banking companies and offices are as follows:

The selling price of one dollar is 1255 dinars, or 125 thousand and 500 dinars per hundred dollars.

The purchase price of the dollar is 1245 dinars, or 124 thousand and 500 dinars per hundred dollars.

The dollar exchange rate in Duhok Governorate increased to 1242 dinars, or 124 thousand and 200 dinars per hundred dollars.

The banking offices in Kirkuk Governorate recorded a rise in the dollar, reaching 1245 dinars, or 124 thousand and 500 dinars, for one hundred dollars.

It is noteworthy that these prices are not official due to the closing of the Al-Kifah Stock Exchange due to the curfew sanitary ban on the prevention of corona virus.
 

Isnt this going in the wrong direction?

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2 hours ago, ronscarpa said:

Once Again, NO Daily Auction today. Wednesday - 4/01/2020


From Delta - Translating Iraqi Social Media ...

 

 

FROM SOCIAL MEDIA FAMILY... .... The problem is big and obviously the central inability to pump amounts as it was in the past to pressure the price where the holidays were open and pumped because he was able but now what is pumping the monthly imports of the country concludes by 5 days if it is pumping at the same old level...

YESTERDAY IN ERBIL.... SHOP OWNERS THEY ARE NOT TAKING DOLLARS...ONLY DINARS  

 

All the exchange and prices of the dollar are unrealistic, better to wait until the stock exchange OPEN officially there is no point in buying now. Even banks will open credits and external transfers very soon. And it's been instructed.

DELTA

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12 consecutive days without daily auctions.

 

As it is known, the dollar is the main engine of commodity markets in Iraq, as the country imports most of its overseas markets

 

Foreign exchange auctions serve as an intervention instrument for the central bank to smooth exchange rate fluctuations.

 

How they will cover imports without daily auctions?

How they prevent the raising of street rate without pumping dollars into the market?

How they keep the 2% gap between Official rate and street rate without auctions?

How they prevent inflation without pumping dollars into the market?

 

Maybe I’m wrong but I believe we are witnessing the Sterilization process.

 

Sterilization is a form of monetary action in which a central bank seeks to limit the effect of inflows and outflows of capital on the money supply.

 

Just my opinion.!

 

Go RV

Go asap

 

 

 

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3 minutes ago, Laid Back said:

12 consecutive days without daily auctions.

 

As it is known, the dollar is the main engine of commodity markets in Iraq, as the country imports most of its overseas markets

 

Foreign exchange auctions serve as an intervention instrument for the central bank to smooth exchange rate fluctuations.

 

How they will cover imports without daily auctions?

How they prevent the raising of street rate without pumping dollars into the market?

How they keep the 2% gap between Official rate and street rate without auctions?

How they prevent inflation without pumping dollars into the market?

 

Maybe I’m wrong but I believe we are witnessing the Sterilization process.

 

Sterilization is a form of monetary action in which a central bank seeks to limit the effect of inflows and outflows of capital on the money supply.

 

Just my opinion.!

 

Go RV

Go asap

 

 

 

Good afternoon Laid Back, I like your thought process brother ;)

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Much obliged Ron, this is getting very very interesting :goodnews:

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3 hours ago, renomac said:

Hey THUG,  

Good Stuff !   Where can I get a copy of a

"gifting assignment or gifting letter" Template ?


Davis Can Send U One - But It’s Already Been Filled Out In Crayon Naming Himself As The ‘Recipient’ ! :o 

 

:D  :D  :D 

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5 minutes ago, Laid Back said:

Maybe I’m wrong but I believe we are witnessing the Sterilization process.

 

possibly LB , the cbi used the term but the translation kinda made it sound like a cleaning process from covid-19 but as Floridian pointed out there was no mention of the USD getting sterilized ( cleaned from infectious virus ) , the speculators ( investors ) like us will never really know till its past tense ..... hers hoping and all the best 

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Economies run on laws. Economic laws. There is some disagreement as to the nature and working of those laws, but there is also agreement on many of these economic laws. 

 

For instance it's a fact that Iraq imports almost everything it needs. It's a fact that they do so with American dollars. It's a fact that the drying up of the auctions reduces the quantity of American dollars in the economy. This makes for an eventual rise in the value of the American dollar on a street level, as Iraqis go looking for those dollars. This means there are not enough American dollars to cover the bills for imports...which are all paid for in American dollars. This created shortage of American dollars means eventually it is mathematically impossible for Iraq to control the 2% gap between the street rate and the Official rate of the American dollar. This means the bank of Iraq can no longer comply with the rules that are laid down by the international bankers. (my guess is International Bankers told Iraq to do this)...This shutting down of the sale of American dollars, it eventually affects supply and demand in Iraq, creating inflationary prices as the quantity of vital foreign goods dries up, due to the shortage of American dollars.

 

I think most economists would agree with all that. Pretty basic economics. 

 

...Long term there is no avoiding economic laws. They govern the world around us. 

 

How long this will take, for all this closing up of auctions to play out in it's consequences, before Iraq has no choice but to either restart the auctions or revalue it's currency? I have no idea, I'm not an economist. But I'm pretty sure that a massive leap in the Dinar value is inevitable...if the auctions remain closed forever..... I just don't know how long it will take. My guess is, by closing the auctions....to use an old farming phrase, the Iraqis are "priming the pump"...in reverse

 

As Luigi would say...."my opine" :peace:

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3 hours ago, renomac said:

Hey THUG,  

Good Stuff !   Where can I get a copy of a

"gifting assignment or gifting letter" Template ?

 

23 minutes ago, renomac said:

? ? ? ? 


Lol ! :lmao:

 

 

I See From Ur Avatar Info That Ur A Platinum Member - There’s One When U Open The First Quote Within The Beginning Post Of This Thread Pinned In The VIP OSI Section Below ! ;) 

 

 

https://dinarvets.com/forums/index.php?/topic/235179-gifting-instructions-all-osi-members-revised-2017/

 


And Be Careful About The ‘Hidden Fees’ If U Decide To Send The Form On To Davis To Receive His ‘Official’ Presidential Seal ...

 

:D  :D  :D 

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1 hour ago, Wiljor said:

Good afternoon Laid Back, I like your thought process brother ;)

Thank you brother Wiljor 👍🏼🙂

 

1 hour ago, 3n1 said:

 

possibly LB , the cbi used the term but the translation kinda made it sound like a cleaning process from covid-19 but as Floridian pointed out there was no mention of the USD getting sterilized ( cleaned from infectious virus ) , the speculators ( investors ) like us will never really know till its past tense ..... hers hoping and all the best 

Agree With you 3n1, 
We will never really know till it’s past tense. 
Still hoping for an RV sooner than later

 

57 minutes ago, Rochester said:

Economies run on laws. Economic laws. There is some disagreement as to the nature and working of those laws, but there is also agreement on many of these economic laws. 

 

For instance it's a fact that Iraq imports almost everything it needs. It's a fact that they do so with American dollars. It's a fact that the drying up of the auctions reduces the quantity of American dollars in the economy. This makes for an eventual rise in the value of the American dollar on a street level, as Iraqis go looking for those dollars. This means there are not enough American dollars to cover the bills for imports...which are all paid for in American dollars. This created shortage of American dollars means eventually it is mathematically impossible for Iraq to control the 2% gap between the street rate and the Official rate of the American dollar. This means the bank of Iraq can no longer comply with the rules that are laid down by the international bankers. (my guess is International Bankers told Iraq to do this)...This shutting down of the sale of American dollars, it eventually affects supply and demand in Iraq, creating inflationary prices as the quantity of vital foreign goods dries up, due to the shortage of American dollars.

 

I think most economists would agree with all that. Pretty basic economics. 

 

...Long term there is no avoiding economic laws. They govern the world around us. 

 

How long this will take, for all this closing up of auctions to play out in it's consequences, before Iraq has no choice but to either restart the auctions or revalue it's currency? I have no idea, I'm not an economist. But I'm pretty sure that a massive leap in the Dinar value is inevitable...if the auctions remain closed forever..... I just don't know how long it will take. My guess is, by closing the auctions....to use an old farming phrase, the Iraqis are "priming the pump"...in reverse

 

As Luigi would say...."my opine" :peace:

Thanks Rochester, I really appreciate your comment.👍🏼

 

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1 hour ago, Rochester said:

But I'm pretty sure that a massive leap in the Dinar value is inevitable...


😲 😃

I really like your “opine” !!!!

Thank you for explaining your thoughts on this Rochester!! 👍🏻

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It will be really interesting if this pops off around June/July and Trump gets the credit for it. And the world has the craziest economic rebound that it has ever seen!!!

Edited by Ziggy
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