keylime Posted March 1, 2010 Report Share Posted March 1, 2010 What happened to the study Maliki talked about? Surely, this was not their conclusion. Not only that but this cannot be for internationally traded Dinar???This reminds me of Nick Saban saying, "I am NOT going to be Alabama's Head Coach." Then moves in the middle of the night to become Alabama's Head Coach. If this is a true statement by "Shubibi?" he just made Maliki look like a fool, and a know nothing, right before the elections. Again. I smell an RV on the horizon. Link to comment Share on other sites More sharing options...
Iraqbuck Posted March 1, 2010 Report Share Posted March 1, 2010 CBI governor says current exchange rate reasonableMarch 1, 2010 - 12:37:27BAGHDAD / Aswat al-Iraq: The governor of the Central Bank of Iraq (CBI) on Monday said that the current exchange rate (1,170 Iraqi dinars per dollar) is reasonable, adding that the bank has enough foreign reserves to defend the exchange rate.“The CBI is adopting a managed floating policy of exchange rate, through which a reasonable exchange rate is fixed,” Sanan al-Shubibi told Aswat al-Iraq news agency.“The current exchange rate is reasonable and stable and can be defended by our vast foreign reserves, totaling $43 billion U.S. dollars at the moment,” Shubibi explained.SS (P) Link to comment Share on other sites More sharing options...
therentman Posted March 1, 2010 Report Share Posted March 1, 2010 Well I guess Adam's contact at the CBI doesn't know what his boss truly thinks... LOL. What a smokescreen, and for you skelly, I'm sure that there are folks who will buy your dinars, if you even have any, so that you will not be troubled by this investment. Link to comment Share on other sites More sharing options...
Iraqbuck Posted March 1, 2010 Report Share Posted March 1, 2010 Maybe a ploy to prevent a bull run on the money...HAHAHAHAHAH Link to comment Share on other sites More sharing options...
CaptainJack Posted March 1, 2010 Report Share Posted March 1, 2010 The current rate is essentially what it is worth ... plain and simple! A managed floating policy of the exchange rate would let it stand on its own in the market and be valued accordingly.All the talk of the rv coming in at $3.00 etc. was just to get people to buy in .... this situation is not even close to the situation with Kuwait or Germany following WWII. I have every confidence in an RV happening shortly after the elections and the violence that is almost assured to take place (no group likes losing), but I think it will come out very low and fluctuate with the free market. Link to comment Share on other sites More sharing options...
MoneyTalks012 Posted March 1, 2010 Report Share Posted March 1, 2010 Maybe the Iraqi's are mad that so many Americans have invested in the currency? I think it's all a bunch of HOOT'N NANNY! L0L. We are too close for everyone to just give in. Why not just wait a little longer? Link to comment Share on other sites More sharing options...
Patriot1 Posted March 1, 2010 Report Share Posted March 1, 2010 I thought the same thing, too, Robin. If one is to believe Shabibi's comment (which I don't) then what rate does he consider 'unreasonable'? He can't tell the world what he really thinks or what he is planning to do, imo. Link to comment Share on other sites More sharing options...
skelly Posted March 1, 2010 Report Share Posted March 1, 2010 therentman i don't have very much. just 5 mil. you can have it all for $5500 Link to comment Share on other sites More sharing options...
ronscarpa Posted March 1, 2010 Report Share Posted March 1, 2010 Get real people. The fat lady has sung. It's over. Sell you dinar while it is still worth somethingSkelly,Will you sell me your IQD's at the going rate - $900/million for uncirc & $725/million for circulated...??? I'm ready, let me know...!RON Link to comment Share on other sites More sharing options...
DARKSHARK Posted March 1, 2010 Report Share Posted March 1, 2010 CBI governor says current exchange rate reasonableMarch 1, 2010 - 12:37:27BAGHDAD / Aswat al-Iraq: The governor of the Central Bank of Iraq (CBI) on Monday said that the current exchange rate (1,170 Iraqi dinars per dollar) is reasonable, adding that the bank has enough foreign reserves to defend the exchange rate. Link to comment Share on other sites More sharing options...
ronscarpa Posted March 1, 2010 Report Share Posted March 1, 2010 The current rate is essentially what it is worth ... plain and simple! A managed floating policy of the exchange rate would let it stand on its own in the market and be valued accordingly.All the talk of the rv coming in at $3.00 etc. was just to get people to buy in .... this situation is not even close to the situation with Kuwait or Germany following WWII. I have every confidence in an RV happening shortly after the elections and the violence that is almost assured to take place (no group likes losing), but I think it will come out very low and fluctuate with the free market.I agree with you here! Link to comment Share on other sites More sharing options...
skelly Posted March 1, 2010 Report Share Posted March 1, 2010 not at the current rate but i will sell 5mil for $5500 Link to comment Share on other sites More sharing options...
levi j mcguire Posted March 1, 2010 Report Share Posted March 1, 2010 Floating Exchange Rate:http://en.wikipedia.org/wiki/Floating_exchange_rate Link to comment Share on other sites More sharing options...
BTSC2000 Posted March 1, 2010 Report Share Posted March 1, 2010 Skelly will you profit when the dinar RV's? Link to comment Share on other sites More sharing options...
cjp Posted March 1, 2010 Report Share Posted March 1, 2010 i like that hahahahah (((((BEANS & RICE)))))) Link to comment Share on other sites More sharing options...
Jmoney Posted March 1, 2010 Report Share Posted March 1, 2010 not at the current rate but i will sell 5mil for $5500If you think it is worthless and always will be then why won't you sell it at the current rate? Link to comment Share on other sites More sharing options...
ronscarpa Posted March 1, 2010 Report Share Posted March 1, 2010 Do you realize that this is great news?! Really. I'm not hyping this at all. Look closely at what was said and take away your pesemistic thought s away from this. Shubibi says quote, "The CBI is adopting a managed floating policy of exchange rate, through which a reasonable exchange rate is fixed". This means that they are looking to float a rate possibly to find out the try value of the dinar. The key words are "adoptinga managed floating policy". They are creating a action plan to revalue the currency! Floating a rate out on the market is opening it up to be traded internationally! That's great news my friends! Wooowhooo! ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Wait and see what happens in themedia today and tomorrow. I've already posted a thread shwoing that www.Zawya.com has reposted the Miliki quotes from the 28th! This is a big news website for major business owners and if they get wind of this and other media sources start seeing these types of quotes being thrown around Iraqi officals and CBI, then CBI will have to explain themselves. The NBC's, ABC's, and Fox news networks are going to start questioning (researching) this, and then it's all over excpet the RVing! So, sit back and enjoy the ride my friends!So, it would appear that we need to be watching FOREX to see if, and when, the IQD is traded...! Then we can see how it floats on the open market. I still think Iraq must establish a new value first - far greater than the 1170, even though they just reaffirmed this rate. - IMHORON Link to comment Share on other sites More sharing options...
k98nights Posted March 1, 2010 Report Share Posted March 1, 2010 Sounds like a little political boxing match going on.... or all of this was planned out in advance to throw speculators off. Link to comment Share on other sites More sharing options...
deboz Posted March 1, 2010 Report Share Posted March 1, 2010 Why would they redenominate their currency if this was an acceptable rate? This does not make any sense to me. I thought the reason for a redenomination was to make transactions easier. This news contradicts what we have already been told. Link to comment Share on other sites More sharing options...
terr Posted March 1, 2010 Report Share Posted March 1, 2010 Sounds like a little political boxing match going on.... or all of this was planned out in advance to throw speculators off.Yep. Contradictions before RV. Keep us guessing! Link to comment Share on other sites More sharing options...
keylime Posted March 1, 2010 Report Share Posted March 1, 2010 Floating Exchange Rate:http://en.wikipedia.org/wiki/Floating_exchange_rateA 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. It is not possible for a developing country to maintain the stability in the rate of exchange for its currency in the exchange market. There are two options open for them- [1] Let the exchange rate be allowed to fluctuate in the open market according to the market conditions, or [2] An equilibrium rate may be fixed to be adopted and attempts should be made to maintain it as far as possible. But, if there is a fundamental change in the circumstances, the rate should be changed accordingly. The rate of exchange under the first alternative is know as fluctuating rate of exchange and under second alternative, it is called flexible rate of exchange. In the modern economic conditions, the flexible rate of exchange system is more appropriate as it does not hamper the foreign trade. 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.Where does anyone think Iraq falls according to this explanation? Are they a "developing country" that does not want to hamper its "foreign trade"? And do they truly want to be on par with the other GCC's? I would be interested in hearing someone's take who is familiar with these two routes of exchange and where they think Iraq fits in. Again, to me, I smell an RV. But would like to hear other educated comments. Link to comment Share on other sites More sharing options...
Nance Posted March 1, 2010 Report Share Posted March 1, 2010 This doesn't even sound remotely intelligent to me.... not reality folks Link to comment Share on other sites More sharing options...
chang Posted March 1, 2010 Report Share Posted March 1, 2010 India is .31 USD. Go there cash it and buy some more right now. http://www.india-forex.com/forcurr.htm Link to comment Share on other sites More sharing options...
Jay Lee Posted March 1, 2010 Report Share Posted March 1, 2010 It won't go on the world market like this. It will still RV. Link to comment Share on other sites More sharing options...
ronscarpa Posted March 1, 2010 Report Share Posted March 1, 2010 Sounds like a little political boxing match going on.... or all of this was planned out in advance to throw speculators off.True Woody, however someone will be holding the IQD's that are out there - You, me, others, Ali, Ken Kuhn, et al...! The CBI won't be getting our IQD's, so it's still in thne hands of investors. I wonder how many IQD's were actually sold to investors - maybe 2 trillion (x Billions in USD)...! Keep The Faith -Thanks,RON Link to comment Share on other sites More sharing options...
Recommended Posts