Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
Sign in to follow this  
Mary B

Central Bank: We will begin to enhance bank balances abroad through the foreign currency sale window

Recommended Posts

Central Bank: We will begin to enhance bank balances abroad through the foreign currency sale window

1/04/2020
 
  
12201219195514.jpg

Information / Baghdad

The central bank announced, on Wednesday, that it will begin to enhance bank balances abroad through the sale of foreign currency, pointing out that there has been no change in its policy in financing trade and imports, which will be resumed after the ban is completely lifted.

The bank said in a statement received / information /, that "the efforts of the various institutions in our country come together to combat the Corona epidemic and come out safely from this crisis, so we invite banks, exchange companies and electronic payment companies to take their responsible role at this stage."

He added, "The curfew has affected the activities and actions of all official institutions, including the Central Bank of Iraq. We have taken the initiative to employ our cadres in order to sustain the payment of salaries and finance of food, agricultural, medical and all necessary materials."

He stressed, "There is no change in its policy in financing trade and imports, which will resume after the ban has been completely lifted. As for the current stage, the bank will begin to enhance the bank balances abroad through the foreign currency sale window according to a schedule of working days and according to the requirements of the situation and this is reported. Going first, for the purposes of financing the import credits of foodstuffs, agricultural supplies, medical materials and goods necessary for the country and citizens. 25 n ended

 

https://www.almaalomah.com/2020/04/01/466049/

  • Thanks 3
  • Upvote 2

Share this post


Link to post
Share on other sites

MaryB Thanks,  DV, Does this mean the CBI will restart the "Currency Auctions" once the curfew is lifted?   Only time will tell and we wait patiently.  I do hope the "Auctions" have ceased for good.  Let's hope we will get an RV & RI sometimes in April 2020.

 

GO RV & RI

  • Like 3
  • Thanks 1
  • Upvote 1

Share this post


Link to post
Share on other sites

Tiger  I believe you are right. "No change in it's policy "  What they mean is

Lets resume the funny math and stealing game...Yippie..

  • Thanks 1
  • Upvote 2

Share this post


Link to post
Share on other sites

So they will bare the sanctions listed Executive Order 12866; Executive Order 13771; Economic Impact for determining if a currency is manipulated to avoid uncertainty and charges of arbitrariness.

  • Thanks 1
  • Upvote 2

Share this post


Link to post
Share on other sites
5 hours ago, tigergorzow said:

MaryB Thanks,  DV, Does this mean the CBI will restart the "Currency Auctions" once the curfew is lifted?   Only time will tell and we wait patiently.  I do hope the "Auctions" have ceased for good.  Let's hope we will get an RV & RI sometimes in April 2020.

 

GO RV & RI

Yup, U got it. Like nothing happened, business as usual. Right now, the CBI is facing covid19...no one is able to update the auction. Rv is a long way from happening. 

  • Thanks 1
  • Haha 1
  • Upvote 1

Share this post


Link to post
Share on other sites

He stressed, "There is no change in its policy in financing trade and imports, which will resume after the ban has been completely lifted."

 

I'll take this at face value until such time as an opposite POV statement says otherwise. . . even then, you can't trust these people.

All the dead, maimed & injured from the Demonstrations; what did it bring them ? The US Military paid for this country in BLOOD ! Yet Our government delivered Iraq into the hands of this Pro-Iranian government; a heartless & callous one that literally despises the people of Iraq.

 

A monumental blunder !

 

The Iraqi people MUST rise up and by force of arms take back their country and deal with the traitorous GOI as they see fit, if they ever hope to have the kind of country they so richly deserve.

 

If this truly will be business as usual after the ban is lifted; Iraq will be driven right into the ground like a tent stake. Perhaps this may be avoided by some type of action(s) not made privy yet by IMF & WB and/or others to bring the GOI to it's knees and force the reforms/RI-RV. 

 

What I see, moreover DON'T see leaves me with a deeply profound sense of disappointment.

Edited by horsesoldier
  • Like 1
  • Thanks 4
  • Upvote 1

Share this post


Link to post
Share on other sites

The easy thing to believe is nothing is going to change because that's Iraq's MO. But that's the only way the. "SUDDENLY " comes into play. 

 

 

  • Like 4
  • Thanks 2
  • Upvote 4

Share this post


Link to post
Share on other sites

April 6th is the date Trumps tarrifs goes into force against countries manipulating their currencies. I don't beleive that to be the date of  ri . But I do believe our dinar is grossly undervalued . And I also would think countries take huge steps to stay off that list of countries . Let's see how Countries and their Central Banks react around that date ...I do like a portion of the title to this article  ....."Central Bank: We will begin to Enhance Bank Balances Abroad ". That's International.  And that's an Enhancement. It also reminds me of a vague memory I have of them saying the would do something with " the remaining balance sheet items ???

  • Thanks 2
  • Upvote 5

Share this post


Link to post
Share on other sites
5 minutes ago, blueskyline said:

April 6th is the date Trumps tarrifs goes into force against countries manipulating their currencies. I don't beleive that to be the date of  ri . But I do believe our dinar is grossly undervalued . And I also would think countries take huge steps to stay off that list of countries . Let's see how Countries and their Central Banks react around that date ...I do like a portion of the title to this article  ....."Central Bank: We will begin to Enhance Bank Balances Abroad ". That's International.  And that's an Enhancement. It also reminds me of a vague memory I have of them saying the would do something with " the remaining balance sheet items ???

That's the date when stimulus package begins to be sent out to all americans...i dont believe that to be the date of ri/rv. We have a long shot for it happening at this time.

  • Like 1
  • Thanks 1
  • Haha 1
  • Upvote 3

Share this post


Link to post
Share on other sites

Mary B Posted: Central Bank: We will begin to enhance bank balances abroad through the foreign currency sale window

---------------------------------------------------------------------------------------------------------------------------------------------------------------

Thanks Mary ... appreciate the article..! :salute:Ron

 

9 hours ago, horsesoldier said:

I'll take this at face value until such time as an opposite POV statement says otherwise. . . even then, you can't trust these people....All the dead, maimed & injured from the Demonstrations; what did it bring them ? The US Military paid for this country in BLOOD..! Yet Our government delivered Iraq into the hands of this Pro-Iranian government; a heartless & callous one that literally despises the people of Iraq....A monumental blunder..!

 

Thanks horsesholdier ... I appreciated your post and perspective..! :salute:Ron

  • Like 1
  • Thanks 2
  • Upvote 1

Share this post


Link to post
Share on other sites
20 hours ago, blueskyline said:

April 6th is the date Trumps tarrifs goes into force against countries manipulating their currencies. I don't beleive that to be the date of  ri . But I do believe our dinar is grossly undervalued . And I also would think countries take huge steps to stay off that list of countries . Let's see how Countries and their Central Banks react around that date ...I do like a portion of the title to this article  ....."Central Bank: We will begin to Enhance Bank Balances Abroad ". That's International.  And that's an Enhancement. It also reminds me of a vague memory I have of them saying the would do something with " the remaining balance sheet items ???

Yep...imf requirement they also mentioned the word “sizeable fiscal adjustment”

  • Like 3
  • Thanks 1
  • Upvote 2

Share this post


Link to post
Share on other sites
22 hours ago, blueskyline said:

April 6th is the date Trumps tarrifs goes into force against countries manipulating their currencies.

 

This won't have an impact on Iraq!!  Karsten was kind enough to share this link earlier that explains what this program is.  https://www.nytimes.com/2019/05/23/us/politics/trump-currency-manipulators.html

 

This program will target countries (like China Germany and South Korea) who undervalue their currency for the purpose of shortchanging the US.  Those governments subsidize (effectively lower) the purchase price of US goods they import by deliberately undervaluing their currency.  And they lower the amount of tariffs the US collects when they export their products to the US by effectively lowering their cost to produce those products (thereby reducing the amount of tariffs collected by the US).  In the same way Iraq deliberately lowered their dinar value after Saddam so they could rebuild their country cheaper, these countries do the same (to a MUCH lower extent) with the intent to pay the US less, both on their imports and exports to the US.  This doesn't apply to Iraq!  Iraq is not doing that!  Iraq's currency manipulation had a much different purpose and has been going on for close to 20 years.  They will not be a target of additonal US tariffs on April 6th and this program will not affect the RV date.

 

On top of all that, every major country is dealing with coronavirus now.  Even those countries who were trying to take advantage of the US via manipulating their currency, are not trying to do that now.  Much of the world is now asking the US for help or at least (like China, Iran, North Korea), trying to pretend they're in control of their coronavirus situation.  Trying to save money by shortchanging the US is not high on their priority list these days.  So I wouldn't expect to see the US put any new tariffs on countries come the 6th when the program goes into  effect.. I do think (hope) the RV is imminent, but this won't have an affect on it.

 

The Trump administration said Thursday that it planned to penalize countries that undervalue their currencies, the latest effort to prevent foreign competitors from trying to undercut American producers and import cheap goods into the United States.

Under a rule change proposed by the Commerce Department on Thursday, the United States would expand its ability to penalize countries that manipulate their currencies. The move, which could be aimed at China, Germany, South Korea and other countries, is likely to provoke controversy among foreign allies and could result in challenges at the World Trade Organization.

The department has proposed expanding a type of remedy that is typically used to levy tariffs on products that are determined to be unfairly subsidized by foreign governments. Under the proposed rule, so-called countervailing duties could be imposed when foreign governments “subsidize” their products by weakening their currencies relative to the United States dollar, the department said.....

  • Thanks 3
  • Upvote 2

Share this post


Link to post
Share on other sites

 "The curfew has affected the activities and actions of all official institutions, including the Central Bank of Iraq. We have taken the initiative to employ our cadres in order to sustain the payment of salaries and finance of food, agricultural, medical and all necessary materials."  He stressed, "There is no change in its policy in financing trade and imports, which will resume after the ban has been completely lifted. As for the current stage, the bank will begin to enhance the bank balances abroad through the foreign currency sale window according to a schedule of working days and according to the requirements of the situation and this is reported. Going first, for the purposes of financing the import credits of foodstuffs, agricultural supplies, medical materials and goods necessary for the country and citizens25 n ended

 

 

In life and as in business, there are two cardinal sins.  The first is to act without thought and the second is not to act at all.

 

Fact: Iraq's leadership can't do what we do and that is why they despise us for it.  Its their leaders who always have always changed the conversation whenever the RV came to any topic because they didn't want to hear the truth since 2004.  Now comes the covid-19. 

 

Iraq's oil and its entire financial future has now been compromised. Unless they increase the value of their own currency, they will lose their #1 product which is oil and millions will perish.  Oil prices are depleting daily, as food and water are becoming obscure and there isn't enough gold in their vaults to keep them afloat within their own swamp of quicksand without immediate medical and financial objectives enacted.  Should their leaderships fail to move faithfully in the name of God and for their people, then the game will conclude for them decisively, CHECK-MATE.  Iraq is now caught and their leadership knows it.   The above "attached" wordings confirms it and the ban won't be lifted until the Dinars value is also lifted in value.

 

Pray that their leaderships act with good judgement and caring hearts in every decision they make, but to act swiftly.

 

Good Fortune & Greater Health to all,

Le Plus Grand'

  • Like 4
  • Thanks 2
  • Upvote 8

Share this post


Link to post
Share on other sites

This "crisis" is both international, financial, and massive, and is the ideal/acceptable method to initiate a global currency reset (let no crisis go to waste). 

  • Thanks 2
  • Upvote 3

Share this post


Link to post
Share on other sites

Bluesky..The Iraq politicians don't give a hoot about what the Americans think.

They don't even care what their own people think. Also the open market just proved

if anything the Dinar is over valued not under valued. 

  • Thanks 1
  • Haha 1
  • Confused 2

Share this post


Link to post
Share on other sites

A very smart man told me quite awhile back that if Iraq's reserves fell to 30 billion they would be forced to float their currency. They are at a crossroad now that le plus grand so eloquently pointed out. We are watching globalism crash before our eyes and it's beautiful. Trump will put everyone on a level playing field and at the same time strangle China and russia. Iran is about to fold their cards. The world needs this rv and Iraq needs the u.s. to rebuild them. Strategic framework agreement.  ;)

Edited by mylilpony
  • Thanks 7
  • Upvote 7

Share this post


Link to post
Share on other sites
On 4/1/2020 at 5:53 PM, tigergorzow said:

MaryB Thanks,  DV, Does this mean the CBI will restart the "Currency Auctions" once the curfew is lifted?   Only time will tell and we wait patiently.  I do hope the "Auctions" have ceased for good.  Let's hope we will get an RV & RI sometimes in April 2020.

 

GO RV & RI

What do folks do that have Warka Bank Account?     We haven't been able to get our money out since the bank removed the wire transfer option on its site years ago.    :(

Share this post


Link to post
Share on other sites
1 hour ago, mylilpony said:

A very smart man told me quite awhile back that if Iraq's reserves fell to 30 billion they would be forced to float their currency. They are at a crossroad now that le plus grand so eloquently pointed out. We are watching globalism crash before our eyes and it's beautiful. Trump will put everyone on a level playing field and at the same time strangle China and russia. Iran is about to fold their cards. The world needs this rv and Iraq needs the u.s. to rebuild them. Strategic framework agreement.  ;)

What are Iraq's reserves right now, I haven't been following.  I sure hope you're right. 

Side note , The Age of Aquarius is upon us, change is in the air.

 

"le plus grand so eloquently pointed out."  .... yeah, what a great post.

  • Thanks 3
  • Upvote 1

Share this post


Link to post
Share on other sites
On 4/3/2020 at 1:29 AM, ronscarpa said:

Mary B Posted: Central Bank: We will begin to enhance bank balances abroad through the foreign currency sale window

---------------------------------------------------------------------------------------------------------------------------------------------------------------

Thanks Mary ... appreciate the article..! :salute:Ron

 

 

Thanks horsesholdier ... I appreciated your post and perspective..! :salute:Ron

Just maybe...foreign currency exchange is what this means? 

Share this post


Link to post
Share on other sites
9 hours ago, Gypsygirl11 said:

What are Iraq's reserves right now, I haven't been following.  I sure hope you're right. 

Side note , The Age of Aquarius is upon us, change is in the air.

 

"le plus grand so eloquently pointed out."  .... yeah, what a great post.

I think 60 to 80 billion but it goes fast when nothing else is working for income in the country. ;)

  • Thanks 2
  • Upvote 2

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.