Shabibi: Iraq $50 Billion foreign reserves

[sonja76]

Shabibi: Iraq $50 Billion foreign reservesPosted: December 6, 2010 by Justhopin in Iraqi Dinar/Politics

Tags: CBI, Central bank, curency, currency reserves, Dinar, Iraq, shabibi 0$ 50 billion reserve «Iraqi Central» foreign currency

Announced the Iraqi Central Bank Governor Sinan al-Shabibi, «configure foreign reserves in support of the Iraqi dinar value amounted to fifty billion dollars». He pointed out that the Iraqi dinar «it is stable currencies in the region».

He explained in a speech during a session in the Iraqi parliament, the «Iraqi Central» sought Bmlake national and experience high to the «development of monetary policy, a coherent and rational achieved financial stability in the country», pointing out that «the only party in Iraq, which is unique in the production of a public good directly to maintain the the purchasing power of the Iraqi dinar ». He added that «to achieve these results in very harsh conditions in which the Bank’s exposure to terrorist acts, and although this did not shake the will of the workers and continued to work to do and giving».

Shabibi considered that the issue of reserves, or the cover of currency «comes at the request of the Government and the Ministry of Finance», saying «the importance of supporting the size of the reserve currency in circulation, because the affected reserves will impact on the fiscal balance».

So, it was announced adviser to the CBI the appearance of Mohammed Saleh, «cut measures cash sales in its daily auction to sell foreign currencies as of this week», revealing that «the speculators are behind the rise in the exchange rate locally for quick profit».

The CBI stressed its procedures for the sale of cash during the last period, the condition of the banks to bring legal documents at the request of foreign exchange, which hampered its work and importers of goods and commodities.

He explained that «Central» «decided to cut the proceedings at the request of documents during the week of the receipt of cash, as can private banks participating in the auction of foreign currencies request of foreign exchange at any time». And the exchange rate was over 119 000 dinars per hundred dollars last week, after they had been without a 118 thousand.

Sale transfers abroad

Salih pointed out that the sale remittances outside Iraq «allowed for commercial purposes and according to legal documents, as citizens can transfer money to pay fees for university students out of Iraq or for medical treatment and for other purposes, not inconsistent with the law against money laundering».

The stairway to the Iraqi Central Bank held five meetings a week for an auction sale or purchase of foreign currencies, and receive cash from the sale 13 dinars per dollar as commission, and 13 dinars per dollar on the sale of remittances outside Iraq

http://bit.ly/fSzkph

http://don't promote other sites.wordpress.com/2010/12/06/shabibi-iraq-50-billion-foreign-reserves/

[RVDinar4MyFamily]

Shabibi: Iraq $50 Billion foreign reservesPosted: December 6, 2010 by Justhopin in Iraqi Dinar/Politics

Tags: CBI, Central bank, curency, currency reserves, Dinar, Iraq, shabibi 0$ 50 billion reserve «Iraqi Central» foreign currency

Announced the Iraqi Central Bank Governor Sinan al-Shabibi, «configure foreign reserves in support of the Iraqi dinar value amounted to fifty billion dollars». He pointed out that the Iraqi dinar «it is stable currencies in the region».

He explained in a speech during a session in the Iraqi parliament, the «Iraqi Central» sought Bmlake national and experience high to the «development of monetary policy, a coherent and rational achieved financial stability in the country», pointing out that «the only party in Iraq, which is unique in the production of a public good directly to maintain the the purchasing power of the Iraqi dinar ». He added that «to achieve these results in very harsh conditions in which the Bank’s exposure to terrorist acts, and although this did not shake the will of the workers and continued to work to do and giving».

Shabibi considered that the issue of reserves, or the cover of currency «comes at the request of the Government and the Ministry of Finance», saying «the importance of supporting the size of the reserve currency in circulation, because the affected reserves will impact on the fiscal balance».

So, it was announced adviser to the CBI the appearance of Mohammed Saleh, «cut measures cash sales in its daily auction to sell foreign currencies as of this week», revealing that «the speculators are behind the rise in the exchange rate locally for quick profit».

The CBI stressed its procedures for the sale of cash during the last period, the condition of the banks to bring legal documents at the request of foreign exchange, which hampered its work and importers of goods and commodities.

He explained that «Central» «decided to cut the proceedings at the request of documents during the week of the receipt of cash, as can private banks participating in the auction of foreign currencies request of foreign exchange at any time». And the exchange rate was over 119 000 dinars per hundred dollars last week, after they had been without a 118 thousand.

Sale transfers abroad

Salih pointed out that the sale remittances outside Iraq «allowed for commercial purposes and according to legal documents, as citizens can transfer money to pay fees for university students out of Iraq or for medical treatment and for other purposes, not inconsistent with the law against money laundering».

The stairway to the Iraqi Central Bank held five meetings a week for an auction sale or purchase of foreign currencies, and receive cash from the sale 13 dinars per dollar as commission, and 13 dinars per dollar on the sale of remittances outside Iraq

http://bit.ly/fSzkph

http://don't promote other sites.wordpress.com/2010/12/06/shabibi-iraq-50-billion-foreign-reserves/

Zantac and Doc31 have said that the auctions would have to stop for a couple days before the RV

Is this what is being said? Does cut measures cash sales mean they are going to stop the auctions this week?

Doc31, Zantac...little help here please

[ECSxFenrir]

Zantac and Doc31 have said that the auctions would have to stop for a couple days before the RV

Is this what is being said? Does cut measures cash sales mean they are going to stop the auctions this week?

Doc31, Zantac...little help here please

Bump on this question to Zantac & Doc

[zantac]

Bump on this question to Zantac & Doc

Hi All

I posted this on the 25th of November, link below

Maliki has 30 days to form his GOI he will use the full 30 days as there will be many that wish to push the pram, I want to feed the baby, get off its my ball & so on.

OK I AM 10 DAYS OUT WITH THE GOI FORMATION BUT WE ALL CANT BE PERFECT

CBI auctions have as I said will need to stop all together for a period of no less than 48 hours.

This will be apparent when you see a very slow decline in auctions all together.

THE ORIGINAL POST VERIFYS MY ORIGINAL STATMENT

Cash sales have as good as stopped; oil & gold will do pretty much the same.

GOLD & OIL IS DOCS DEPARTMENT PERHAPS HE WILL ADDRESS THIS LATER AFTER COFFEE

CBI will announce a 3-5 day unscheduled holiday that will be only for in house audit, this will need to be done prior to the RV/RI

THIS I BELIEVE WILL BE ON THE 16TH (ASHURA DAY) THROUGH UNTIL THE 20TH

SEEMS PLANNED THAT THE SCHEDULED UNSC MEETINGS FALL 1 DAY BEFORE ASHURA DAY

To you or me 5 cents either way doesn’t mean nothing but to a RV/RI to a country with trillions of IQD this means a fortune if figures are not correct at the time of RV.

I still maintain you will not see RV/RI this year but I feel more confident than ever the start of 2011 will be the best experience of many people’s lives

SORRY TO LEAVE THE LAST BIT IN, I STILL MAINTAIN THIS AS TIME IS RUNNING OUT TO FAST FOR IRAQ TO ACT IN TIME BY THE END OF THIS YEAR, HOLIDAYS, MEETINGS & THE FESTIVE PERIOD AHEAD

I SURE HOPE I AM WRONG

[Logical1]

Thanks for the post!