CBI Advisor: Reserves is not sufficient to raise the value of the Iraqi dinar

[Icepick]

Posted: November 30, 2010 by Justhopin in Iraqi Dinar/Politics

Tags: Bank reserves, Business and Economy, Central bank, Dinar, Economy of Iraq, exchange rate, Inflation, Iraq, Iraqi dinar, middle east 0

Adviser of the Central Bank reserve is not sufficient to raise the value of the Iraqi dinar

Central bank adviser said the appearance of Mohammed Saleh, said that the Iraqi dinar force depends on two factors the first of what is owned bank reserves amounting to less than 50 Mlyar (billion?) dinar and the second is inflation

The added benefit of the reporter (news agency, media / INA) that inflation, which hit the Iraqi economy, which was reached today to Less than 3% Foundation with inflation exchange rate stability.

Indicating that the central bank’s target is to reduce inflation and increase in Prices and that this low inflation has led to increased purchasing power of the Iraqi dinar and explained that Reasons that led to the high level of inflation due to the absence of the type of export products and our dependence on one type of export and this makes the Iraqi economy, unilateral and non-qualified to work on raising the real apical of the Iraqi dinar.

Heres the link -

translated in english...

http://al-iraqnews.net/new/economic-news/37097.html&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dbh9%26rls%3Dorg.mozilla:en-US:official&rurl=translate.google.com&twu=1'>http://translate.google.com/translate?hl=en&sl=ar&u=http://al-iraqnews.net/new/economic-news/37097.html&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dbh9%26rls%3Dorg.mozilla:en-US:official&rurl=translate.google.com&twu=1

original...

http://al-iraqnews.net/new/economic-news/37097.html

[dhawk7]

that doesn't sound too good

[Icepick]

nope, im not even sure what it means? is this rhetoric to keep the RV hidden from the public or is it really just a matter of adding more reserves to the central bank?

[smokem111]

Here is what the cbi stated on Nov 24th 2010

Smokescreen???

A significant increase in Iraq’s proven reserves of hard currency – November 24th 2010

Iraqi Central Bank announced recently an increase in the size of its reserves of foreign currency hard reaching out to more than $ 50 billion, up until the end of the first half of the year 2010 a minimum of $ 41 billion.

[Doc31]

I keep telling you ... any article with Mohammed Salih's name in it is suspicious. He claims to work for the CBI as an advisor ... at best he is a consultant ... although, we've never heard the CBI say that he is ... only Salih. He is the "chicken little" of Iraq. In fact several of the original LOP articles were quoting Salih ... then 1hr to 24 hrs later Shabibi had to come out and say, "no, of course not."

Which is not to say that I don't appreciate icepick posting this ... I always want to know what "chicken little" is saying!

Peace

Doc31

[zbubbaz]

I SEE MANY CHICKEN LITTLE POSTS ; LOOKS FAMILIAR TO ME . . .

[Manhattan]

I keep telling you ... any article with Mohammed Salih's name in it is suspicious. He claims to work for the CBI as an advisor ... at best he is a consultant ... although, we've never heard the CBI say that he is ... only Salih. He is the "chicken little" of Iraq. In fact several of the original LOP articles were quoting Salih ... then 1hr to 24 hrs later Shabibi had to come out and say, "no, of course not."

Which is not to say that I don't appreciate icepick posting this ... I always want to know what "chicken little" is saying!

Peace

Doc31

Thanks Doc... I appreciate your views.

Manhattan