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IQD Changes on FOREX overnight !


diligent1
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Like I said, I think what they are watching is where it heads based on it's current value, then when trading closes, they perhaps will decide on what the RV will be and apply it.

We should not see it till Saturday night late at the earliest when CBI is back to work (Sunday there)

I think it would be most logical to occur over a weekend to give banks a chance for a quick preparation.

I want it this weekend, but that's me.

Here's how I see it going as we stand:

Last week, change in currency regime

This week, currency trading frequency increased, rate moving down (good direction)

CBI Closed Fri/Sat

Our Banks Closed Sunday

MOST People, if they hear about this not involved yet, would head to a bank to purchase dinar, because the rate going live Sat night...but can't because banks are closed Sunday...

Banks prep necessary people Sunday for what to expect Monday (earliest)

Then the rush is on...

Please understand, that's my line of thinking only, SPECULATION, but I think better than an RV happening Wednesday and Thursday banks get crushed...

TPR

I still think the Ministry of Security has to be named before Shabibi pulls the RV trigger, so unless that happens Sunday, I don't think we will see an RV. BUT...this is a positive step and great find. Just my HO though.

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Like I said, I think what they are watching is where it heads based on it's current value, then when trading closes, they perhaps will decide on what the RV will be and apply it.

We should not see it till Saturday night late at the earliest when CBI is back to work (Sunday there)

I think it would be most logical to occur over a weekend to give banks a chance for a quick preparation.

I want it this weekend, but that's me.

Here's how I see it going as we stand:

Last week, change in currency regime

This week, currency trading frequency increased, rate moving down (good direction)

CBI Closed Fri/Sat

Our Banks Closed Sunday

MOST People, if they hear about this not involved yet, would head to a bank to purchase dinar, because the rate going live Sat night...but can't because banks are closed Sunday...

Banks prep necessary people Sunday for what to expect Monday (earliest)

Then the rush is on...

Please understand, that's my line of thinking only, SPECULATION, but I think better than an RV happening Wednesday and Thursday banks get crushed...

TPR

I was actually waiting for you to chime in on this thread. Its is interesting when you couple this small change with the regime change you earlier this week.

This is only me SPECULATING but I think it looks like a managed float of some sort, just not a traditional float as it is clearly not internationally traded. I know you know a lot about those definitions. Given what you know, how would you classify this change? Its been pegged so they only updated 3 or 4 times a day. Can they keep it pegged with more frequent updates? I know, now Im reaching but its an interesting change.

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You got whats important. The value isnt what is interesting, its the frequency in which it has been updating overnight. That is what is interesting. Watch the below link as well.

Ignore the value, IT HASNT CHANGED. Watch the time stamp column for IQD on the right side of this chart. That use to update 3 or 4 times a day. As of lastnight, its been updating about every 10 min to an hour at the most.

Does it mean anything? I have no idea. I know Phantom rider and I have both noticed some weird status changes on different forex sites this week. No, NOT VALUE CHANGES, just minor changes in different status topics from other sites, Anyway, I guess it worth watching if you into keeping up with Forex sites.

http://www.netdania.com/Products/live-streaming-currency-rates-foreign-exchange/real-time-quotes/QuoteList.aspx?m=q

it don't have anything about IQD on it .better check again
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TPR...thanks for posting, making a lot of sense...it is a change from how the IQD has been performing historically. It could be a tell, and it could be nothing, or it could go on like this for quite a while. Anyways, I agree the rate it is showing right now is not significant, it is the change in how the IQD is being handled that is intriguing...tip_hat.gif

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Managed float regime is the current international financial environment in which exchange rates fluctuate from day to day, but central banks attempt to influence their countries' exchange rates by buying and selling currencies. It is also known as a dirty float.[1]

In an increasingly integrated world economy, the currency rates impact any given country's economy through the trade balance. In this aspect, almost all currencies are managed since central banks or Governments intervene to influence the value of their currencies

A floating exchange rate or fluctuating exchange rate is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market. A currency that uses a floating exchange rate is known as a floating currency.

There are economists who think that, in most circumstances, floating exchange rates are preferable to fixed exchange rates. As floating exchange rates automatically adjust, they enable a country to dampen the impact of shocks and foreign business cycles, and to preempt the possibility of having a balance of payments crisis. However, in certain situations, fixed exchange rates may be preferable for their greater stability and certainty. This may not necessarily be true, considering the results of countries that attempt to keep the prices of their currency "strong" or "high" relative to others, such as the UK or the Southeast Asia countries before the Asian currency crisis. The debate of making a choice between fixed and floating exchange rate regimes is set forth by the Mundell-Fleming model, which argues that an economy cannot simultaneously maintain a fixed exchange rate, free capital movement, and an independent monetary policy. It can choose any two for control, and leave third to the market forces.

In cases of extreme appreciation or depreciation, a central bank will normally intervene to stabilize the currency. Thus, the exchange rate regimes of floating currencies may more technically be known as a managed float. A central bank might, for instance, allow a currency price to float freely between an upper and lower bound, a price "ceiling" and "floor". Management by the central bank may take the form of buying or selling large lots in order to provide price support or resistance, or, in the case of some national currencies, there may be legal penalties for trading outside these bounds

The idea is that emerging economies need a managed float to control volatility, which we can surmise as fitting Iraq to a T. Right now it appears they are letting it float and see where it goes. Then, when they are ready, the new RV rate will be applied and then a management of +/- 2% or so will be implemented according to that rate. So, based on whatever rate they post, you can expect it to range anywhere in that 4% window for at least 90 days, if not longer. Once it stabilizes, we then could see a free float which could yield larger increases (or even decreases) That's when the real speculation begins...

TPR

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Add it. It is not classified so it is not going to show automatically. In the box below the rates, type USD/IQD.

What he said.. You have to manually enter it.. "USD/IQD". The same would have to be done a site like (www.xe.com)

I know that on XE the rate fluctuates frequently, but only by a small #

Forex seems to show the value with the highest amount of decrease.

I'm not getting too excited about this quite yet, but if speculation is true, we have a heart-beat.

One can suspect, that the rate is already determined... The rate being approved, and that could be the reasoning behind the high amount of rumor(s). Maybe there was a legitimate leak somewhere along the way and now we're all hearing rates, but from my understanding Shabbs has to trigger the new rate and the hold-up could be the GOI. I believe it involves the seating of the Government. The budget can easily be amended if needed, so I don't see that being a big factor, but stability on the hand is a factor. If we all are stuck on the idea of the budget being a factor, I believe that'll be complete prior to the summit, considering a lot of funds are going to be used for that.

Could this be a test? Considering the day(s) involved on this test, it seems as if it was timed for something to happen soon where double-dipping could not occur.

If it was just a testing of the waters so to speak, one would think that it could reasonably happen any day of the week since it wouldn't have any impact.

This will just make the weekend a little bit more interesting.

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Managed float regime is the current international financial environment in which exchange rates fluctuate from day to day, but central banks attempt to influence their countries' exchange rates by buying and selling currencies. It is also known as a dirty float.[1]

In an increasingly integrated world economy, the currency rates impact any given country's economy through the trade balance. In this aspect, almost all currencies are managed since central banks or Governments intervene to influence the value of their currencies

A floating exchange rate or fluctuating exchange rate is a type of exchange rate regime wherein a currency's value is allowed to fluctuate according to the foreign exchange market. A currency that uses a floating exchange rate is known as a floating currency.

There are economists who think that, in most circumstances, floating exchange rates are preferable to fixed exchange rates. As floating exchange rates automatically adjust, they enable a country to dampen the impact of shocks and foreign business cycles, and to preempt the possibility of having a balance of payments crisis. However, in certain situations, fixed exchange rates may be preferable for their greater stability and certainty. This may not necessarily be true, considering the results of countries that attempt to keep the prices of their currency "strong" or "high" relative to others, such as the UK or the Southeast Asia countries before the Asian currency crisis. The debate of making a choice between fixed and floating exchange rate regimes is set forth by the Mundell-Fleming model, which argues that an economy cannot simultaneously maintain a fixed exchange rate, free capital movement, and an independent monetary policy. It can choose any two for control, and leave third to the market forces.

In cases of extreme appreciation or depreciation, a central bank will normally intervene to stabilize the currency. Thus, the exchange rate regimes of floating currencies may more technically be known as a managed float. A central bank might, for instance, allow a currency price to float freely between an upper and lower bound, a price "ceiling" and "floor". Management by the central bank may take the form of buying or selling large lots in order to provide price support or resistance, or, in the case of some national currencies, there may be legal penalties for trading outside these bounds

The idea is that emerging economies need a managed float to control volatility, which we can surmise as fitting Iraq to a T. Right now it appears they are letting it float and see where it goes. Then, when they are ready, the new RV rate will be applied and then a management of +/- 2% or so will be implemented according to that rate. So, based on whatever rate they post, you can expect it to range anywhere in that 4% window for at least 90 days, if not longer. Once it stabilizes, we then could see a free float which could yield larger increases (or even decreases) That's when the real speculation begins...

TPR

Thanks for reposting those definitions. Well, at least I think its safe to say, the foreign exchanges are ready and waiting for whatever Iraq decides to do.

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Phantom rider, just another speculation on what to do in the world of currencies.

If we see the float pegged at the 2% increase, could we believe it'll jump even higher after the 90 days, or is there still a risk for a decrease??

This is just a guesstimate from information I have gleaned over recent weeks.

The managed float allows the CBI to control the volatile nature this will undoubtedly cause, so whatever the rate is, it allows them to keep it in that range for however long they need it to be in order to stabilize. They have been pegged for years against the dollar, that's why it's been in the same range so long. The way I see it, this may be a test for the CBI to manage the movement before the actual rate is plugged in.

After 90 days (or whatever timeline they decide) they will probably not allow it to free float, still to volatile (most country currencies are managed to some degree) but they could increase the spread that it is allowed to float, say 5% up or down.

Now, as the spread increases, that will not only allow for increased upward movement but down as well, creating more speculation and allowing more trading of the currency in the future as there will be a greater chance of more significant gains, as opposed to a more limited movement out of the gates.

TPR

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This entire thread has been like a breath of fresh air...an open discussion of something new to watch (re: our investment) with no back-biting, sniping, bashing or name calling. Just an exchange of ideas, thoughts and explanations of the topic. This is the way this site should be in all areas of research, rumor, advice, etc. In other words an intelligent conversation with real adults. Kudos to all who have posted thus far!

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This entire thread has been like a breath of fresh air...an open discussion of something new to watch (re: our investment) with no back-biting, sniping, bashing or name calling. Just an exchange of ideas, thoughts and explanations of the topic. This is the way this site should be in all areas of research, rumor, advice, etc. In other words an intelligent conversation with real adults. Kudos to all who have posted thus far!

Absolutely. I haven't posted in it because I don't understand a lot of it but with all the pleasant discussion going on about it all I am learning a lot and understanding more and more.

Thanks Everyone :)

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Last night was much more frequent that every 2 hours. We will see if its that way tonight.

One thing to remember, if this is some sort of test, then I would not be surprised or even disappointed if it stopped doing the new updated activity and went back to being stagnent. If it does, theres no need to be bummed over it, just a test run. Obviously SPECULATION on my part but worth considering it could stop doing this.

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My first post, so take it easy on me... but I got pretty curious here and punched in the Iranian Riyal (USD/IRR) and watched these two side by side. Why IRR? Cause it said "Not Classified" next to it (same as IQD) and I doubt that they're going to have anything happen to their currency on an international scale... But they seem to update within 4 seconds of each other, at least for the past two updates.

Significance? I have no idea, but it just leads me to believe that there's no real coilation between what we're seeing here (USD/IQD) and an RV. Just looks like a normal function of the chart. It's great to see it moving down though no matter how slight.

Edited by tanglewood
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My first post, so take it easy on me... but I got pretty curious here and punched in the Iranian Riyal (USD/IRR) and watched these two side by side. Why IRR? Cause it said "unclassified" next to it (same as IQD) and I doubt that they're going to have anything happen to their currency on an international scale... But they seem to update within 4 seconds of each other, at least for the past two updates.

Significance? I have no idea, but it just leads me to believe that there's no real coilation between what we're seeing here (USD/IQD) and an RV. Just looks like a normal function of the chart. It's great to see it moving down though no matter how slight.

Who knows. But this is certainly a change relative to iraq. I dont watch Iran so I can't add any color for you about that.

Edited by hopefullbk
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My first post, so take it easy on me... but I got pretty curious here and punched in the Iranian Riyal (USD/IRR) and watched these two side by side. Why IRR? Cause it said "unclassified" next to it (same as IQD) and I doubt that they're going to have anything happen to their currency on an international scale... But they seem to update within 4 seconds of each other, at least for the past two updates.

Significance? I have no idea, but it just leads me to believe that there's no real coilation between what we're seeing here (USD/IQD) and an RV. Just looks like a normal function of the chart. It's great to see it moving down though no matter how slight.

I punched in usd/kwd and it said "unclassified" also. the kwd is updated more frequently than the iqd but that may be due to a higher trading frequency. But the kwd is not every 4 secs or anything that frequent. The significance to this seems to be that is is updating more frequently than the past. Like it is testing or that it is now live and because it isn't trading with much volume or frequency they are only updating it every two hours or so. We'll see, but definitely something to watch, albeit slowly.

One thing for sure, it's not "he said, she said" it is something you can watch in black and white and follow yourself.

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There was a time about a month or so ago that the IQD did the same thing y. I dont think anyone of us are saying this is predicting an RV. I think the point is that Iraq now has the foreign exhange systems set up and ready to roll in the event they want to infact issue a new v

In the event that it is a recent addition to the chart, then yea, that's obviously great news moving this investment in the right direction. I just had a feeling that seeing the IRR in there, doing the same thing as the IQD (updating and such) took a little of the excitement away, for me at least. None the less, it may be a great sign.

I punched in usd/kwd and it said "unclassified" also. the kwd is updated more frequently than the iqd but that may be due to a higher trading frequency. But the kwd is not every 4 secs or anything that frequent. The significance to this seems to be that is is updating more frequently than the past. Like it is testing or that it is now live and because it isn't trading with much volume or frequency they are only updating it every two hours or so. We'll see, but definitely something to watch, albeit slowly.

One thing for sure, it's not "he said, she said" it is something you can watch in black and white and follow yourself.

Totally agree with your last sentence there! It is nice to have something to look at like this. Maybe my whole point before was that it was just kind of odd to me that the last two updates of IQD and IRR both occured within 4 seconds of each other. idk, prob just a fluke I happened to fall upon.

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In the event that it is a recent addition to the chart, then yea, that's obviously great news moving this investment in the right direction. I just had a feeling that seeing the IRR in there, doing the same thing as the IQD (updating and such) took a little of the excitement away, for me at least. None the less, it may be a great sign.

Ignore what I was typing above in response to your question tanglewood, I thought I was typing something in another thread. You can see, i edited myself as my reply wasnt relavent to your question. sorry!

My first post, so take it easy on me... but I got pretty curious here and punched in the Iranian Riyal (USD/IRR) and watched these two side by side. Why IRR? Cause it said "Not Classified" next to it (same as IQD) and I doubt that they're going to have anything happen to their currency on an international scale... But they seem to update within 4 seconds of each other, at least for the past two updates.

Significance? I have no idea, but it just leads me to believe that there's no real coilation between what we're seeing here (USD/IQD) and an RV. Just looks like a normal function of the chart. It's great to see it moving down though no matter how slight.

On second thought, Ive heard it mentioned that there is a middle east basket of currencies. I dont know what countries are in it, or even if its true. Anyway, if it is true, if that basket updates more frequenlty, maybe the IQD got added to that basket as of last night???? Anyone shed some light on my question?

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On second thought, Ive heard it mentioned that there is a middle east basket of currencies. I dont know what countries are in it, or even if its true. Anyway, if it is true, if that basket updates more frequenlty, maybe the IQD got added to that basket as of last night???? Anyone shed some light on my question?

Just going to throw in here real quick that I saw the 12PM update exactly 4 sec apart as well as the 2PM. So I guess the 4PM(?) update may shed something on it? lol... I spend too much time on this site! Back to work... maybe, ;)

On a side note, we may be dangerously close here at creating a new Iran, Iraq basket rumor... look for it soon. lol

Edited by tanglewood
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Yep, don't know if it's going to stay this way or not, my gut feeling is yes, this is now the way it will be, plus we also need to remember that it's Friday/Saturday so I'd imagine that frequency is up but not second by second because they are closed there.

Again, my bet is that WHENEVER the rate gets released, it will happen on A Saturday or Sunday night here, it would keep the rush to buy repressed because many banks will be closed. No one late to the party. Saturday would be prime because Sunday could be used for bank prep....

Just a thought since I never bothered to look, does DT sell on Sunday?

TPR

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Just going to throw in here real quick that I saw the 12PM update exactly 4 sec apart as well as the 2PM. So I guess the 4PM(?) update may shed something on it? lol... I spend too much time on this site! Back to work... maybe, ;)

On a side note, we may be dangerously close here at creating a new Iran, Iraq basket rumor... look for it soon. lol

God forbid!

Yep, don't know if it's going to stay this way or not, my gut feeling is yes, this is now the way it will be, plus we also need to remember that it's Friday/Saturday so I'd imagine that frequency is up but not second by second because they are closed there.

Again, my bet is that WHENEVER the rate gets released, it will happen on A Saturday or Sunday night here, it would keep the rush to buy repressed because many banks will be closed. No one late to the party. Saturday would be prime because Sunday could be used for bank prep....

Just a thought since I never bothered to look, does DT sell on Sunday?

TPR

I agree. Thanks for all of your input to this thread.

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