Iraqi Central Bank Governor, Sinan Al-Shabibi Talks to Asharq Al-Awsat

[FXStockpiling]

[topic=http://aawsat.com/english/news.asp?section=6&id=9728]http://aawsat.com/english/news.asp?section=6&id=9728[/topic]

Article is from 2007 but still a good read and can be used as a reference tool.....

(Asharq Al-Awsat) What about the rate of exchange, and the value of the domestic currency, the Iraqi dinar? Has its value leaped forward?

(Al-Shabibi) In fact there is no leap forward in the value of the domestic currency. We are keen to monitor any changes in the value of the currency. In the Central Bank was are keen to make any changes bearable, and not to have strong fluctuations as it used to happen during the previous era when the value of the currency used to change from 1,500 dinars to the dollar to 3,000 dinars to the dollar within a few days. In fact we have been keen to have stability in the rate of exchange, and according to all the international financial institutions we have succeeded in achieving this. The domestic currency has not witnessed any major fluctuations in the exchange rate since 2003. We are committed to this policy, and now we have good reserves to prevent the occurrence of such fluctuations.

Edited February 23, 2011 by Riley
Added Date of Article

[Riley]

FYI - That's an old article.......

Iraqi Central Bank Governor, Sinan Al-Shabibi Talks to Asharq Al-Awsat

29/07/2007

[Doctor ``D``]

when was this stated ?

[baker112]

The date is from July 2007. How do we it's relevant in the current environment?

[Doctor ``D``]

thanks Riley

[Frank61]

[topic=http://aawsat.com/english/news.asp?section=6&id=9728]http://aawsat.com/english/news.asp?section=6&id=9728[/topic]

(Asharq Al-Awsat) What about the rate of exchange, and the value of the domestic currency, the Iraqi dinar? Has its value leaped forward?

(Al-Shabibi) In fact there is no leap forward in the value of the domestic currency. We are keen to monitor any changes in the value of the currency. In the Central Bank was are keen to make any changes bearable, and not to have strong fluctuations as it used to happen during the previous era when the value of the currency used to change from 1,500 dinars to the dollar to 3,000 dinars to the dollar within a few days. In fact we have been keen to have stability in the rate of exchange, and according to all the international financial institutions we have succeeded in achieving this. The domestic currency has not witnessed any major fluctuations in the exchange rate since 2003. We are committed to this policy, and now we have good reserves to prevent the occurrence of such fluctuations.

The article is from 2007. It is clearly dated.

[FXStockpiling]

FYI - That's an old article.......

Iraqi Central Bank Governor, Sinan Al-Shabibi Talks to Asharq Al-Awsat

29/07/2007

Ahh missed that was looking at date above it "Sorry"

[Judo]

This article is dated 7-29-2007

[Frank61]

Ahh missed that was looking at date above it "Sorry"

Its easy to do. A lot of middle east news wires actual date of article can be confusing. Shows you are trying to help though !!!

[Riley]

Ahh missed that was looking at date above it "Sorry"

No problem at all - glad to see you are doing your research....keep up the great work and as always thanks for sharing.

[RocketDinarest]

[topic=http://aawsat.com/english/news.asp?section=6&id=9728]http://aawsat.com/english/news.asp?section=6&id=9728[/topic]

Article is from 2007 but still a good read and can be used as a reference tool.....

(Asharq Al-Awsat) What about the rate of exchange, and the value of the domestic currency, the Iraqi dinar? Has its value leaped forward?

(Al-Shabibi) In fact there is no leap forward in the value of the domestic currency. We are keen to monitor any changes in the value of the currency. In the Central Bank was are keen to make any changes bearable, and not to have strong fluctuations as it used to happen during the previous era when the value of the currency used to change from 1,500 dinars to the dollar to 3,000 dinars to the dollar within a few days. In fact we have been keen to have stability in the rate of exchange, and according to all the international financial institutions we have succeeded in achieving this. The domestic currency has not witnessed any major fluctuations in the exchange rate since 2003. We are committed to this policy, and now we have good reserves to prevent the occurrence of such fluctuations.

First of all this article is 3.5 years old. Second, Shabibi is saying the value of the dinar is not going to get low like previous years, he didn't say it is not going to get better!

GO RV

[Captjohn]

[topic=http://aawsat.com/english/news.asp?section=6&id=9728]http://aawsat.com/english/news.asp?section=6&id=9728[/topic]

Article is from 2007 but still a good read and can be used as a reference tool.....

(Asharq Al-Awsat) What about the rate of exchange, and the value of the domestic currency, the Iraqi dinar? Has its value leaped forward?

(Al-Shabibi) In fact there is no leap forward in the value of the domestic currency. We are keen to monitor any changes in the value of the currency. In the Central Bank was are keen to make any changes bearable, and not to have strong fluctuations as it used to happen during the previous era when the value of the currency used to change from 1,500 dinars to the dollar to 3,000 dinars to the dollar within a few days. In fact we have been keen to have stability in the rate of exchange, and according to all the international financial institutions we have succeeded in achieving this. The domestic currency has not witnessed any major fluctuations in the exchange rate since 2003. We are committed to this policy, and now we have good reserves to prevent the occurrence of such fluctuations.

Can be used as a reference tool for what? This is totally irrelevant and outdated.

[onerighthand]

Why does everybody need to say, "its dated blah blah blah"?

One or two maybe posts maybe, but over and over again. It isn't like we missed this fact after the first "it's old" post. Like we didn't already realize! Or is it a way of scolding someones mistake over and over and over. Geese! Just point it out once and move on Please! Now Go RV and keep smilin!

[brichards513]

A LOT has changed in the past four years! Although that may have been what S wanted back in 2007 - I doubt that this is his stance looking forward. Iraq wants to participate in the global economy and become a member of the WTO. To play on that playing field - you must have a currency that is recognized in the international currency markets. And a currency that is basically worth less then the paper it is printed on is not going to cut it on the international stage of business. JMHO

God Bless

Brich