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Dinar News This is horrible news!


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"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!

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Sorry, I'm a little hesitant to believe anyone that cites wikipedia as a source of information.

That's a joke, right? Wikipedia is basically the largest encyclopedia ever made. Credibility, dropping, but so that you don't question me or Wikipedia, here are a few other links that explain managed floats as well:

http://library.thinkquest.org/19552/managed.htm

http://financial-dictionary.thefreedictionary.com/Managed+Float

http://ideas.repec.org/p/cpr/ceprdp/3064.html

If a "library" and "finiancial dictionary" are also questionable sources in your estimation, I don't know what else I can do.

FP

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I'm not going to argue..just want to give a opinion...what I interpreted is that at the current rate Iraq has been at basically for many months..that it has become stable and that further reval needs to be looked at..as they had to have a stable rate...just my ho

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I think what you say makes sense FP. Just the way they worded it, they don't plan on making any changes and they don't think they need to.

Like some say it could be a smokescreen but I am keeping an open mind.

I don't know as I would say horrible though, I do think in the long run there will be a profit.

Sorry FP, no offense but I hope your wrong.

Edited by NoOneReally
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This is very bad news, people. A managed float is a mechanism that central banks use to prevent an exchange rate from changing too much. It does not mean that the rate is going to 'float up'. In the second quote, it clearly says that "the current exchange rate is reasonable and stable..." It is saying that the $43 billion USD that they have in their reserves is enough to support the rate as it is right now (current).

In short, the CBI just told us that they have enough in their reserves to support the rate as it is right now, and that they are going to adopt a managed float strategy to maintain it right where it is.

More info about what a managed float is at Wikipedia: http://en.wikipedia.org/wiki/Floating_exchange_rate

FP

The CBI has already been using the managed float system. They control the rising and lowering (float) of the value of the IQD via the auctions. This managed float system is already in affect. The bigger news is that they are even talking about the currency and value. 5 years with almost nothing, the last 2 months almost every week something official about the value of the currency.

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Thanks for the post. I believe the RV will come in the fall. I hope its soon but CBI stating that they want the larger bills back by the end of the year tells me fall. Also Iraq will give us a short window of time mybe 45 days give or take a little to turn in there money that we hold. I look at this as a investment its going to happen not on our time there time.

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so fp if we sell them a brick at 1170 dollars now dont you think it would be reasonable to think they would want more buying power , lets say move it up to at least 1 dollar to buy that same brick . so wouldnt this mean that the rate would go up to at least a dollar ? ps. im no expert at this sort of stuff so im just asking?

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so fp if we sell them a brick at 1170 dollars now dont you think it would be reasonable to think they would want more buying power , lets say move it up to at least 1 dollar to buy that same brick . so wouldnt this mean that the rate would go up to at least a dollar ? ps. im no expert at this sort of stuff so im just asking?

timsters, I do think that Iraq wants their currency valued closer to the USD. But I am not yet convinced that they can afford to RV it. I think they will move the Dinar up to 'international levels' by redenominating at some point. Then, in your example, "a brick would cost 1 IQD", but you wouldn't have enough money in the world to buy 45 trillion bricks. That's a lot of bricks, and I don't think that Iraq can cover the cost of all of them. JMO

FP

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just a question? Which of these amount would benefit the Iraq dinar,to have a lop meaning removing 3 zeros,in which I believe reading from the info from websites that Iraq has 25 trillion dinars circulating,if they were lopping the 25 trillion IQD by removing 3 zeros it is worth only 25 billion or RV@ lets say (conservative figure) .86x25 trillionIQD=$215Trillion Dollars!!!!!!!!! Just a Question?????????????????????????????????????

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Thanks for the post. I believe the RV will come in the fall. I hope its soon but CBI stating that they want the larger bills back by the end of the year tells me fall. Also Iraq will give us a short window of time mybe 45 days give or take a little to turn in there money that we hold. I look at this as a investment its going to happen not on our time there time.

makes sense.

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What's the date of the original post from gankans?

If you click on the blue arrow in the quote at the beginning of this thread, it should take you straight to the original article. let me know if it doesn't work and I'll get a direct link. It's pretty new in this Iraq & Dinar Related News forum, though...

FP

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just a question? Which of these amount would benefit the Iraq dinar,to have a lop meaning removing 3 zeros,in which I believe reading from the info from websites that Iraq has 25 trillion dinars circulating,if they were lopping the 25 trillion IQD by removing 3 zeros it is worth only 25 billion or RV@ lets say (conservative figure) .86x25 trillionIQD=$215Trillion Dollars!!!!!!!!! Just a Question?????????????????????????????????????

I'm not sure about your numbers, mayo007 (I found that they actually had $43 trillion off of the CBI website), but I gave my opinion of this in a thread in the Dinar Rumors forum called, "For New 'Dinarians". Computer problems right now, so I can't link to it, but it is on the first page at the moment.

FP

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That's a joke, right? Wikipedia is basically the largest encyclopedia ever made. Credibility, dropping, but so that you don't question me or Wikipedia, here are a few other links that explain managed floats as well:

http://library.thinkquest.org/19552/managed.htm

http://financial-dictionary.thefreedictionary.com/Managed+Float

http://ideas.repec.org/p/cpr/ceprdp/3064.html

If a "library" and "finiancial dictionary" are also questionable sources in your estimation, I don't know what else I can do.

FP

It is absolutely not a joke; you put a little too much faith into wikipedia. You can throw around terms like encyclopedia and dictionary, but the real question is where they get their information and what is their system for verifying it. I could use wiki software to create a free "encylopedia" and put whatever I want on it. Wikipedia simply can't be trusted as a sole source. This is a sentiment echoed by many educated people. I will look into these other sources though.

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This is very bad news, people. A managed float is a mechanism that central banks use to prevent an exchange rate from changing too much. It does not mean that the rate is going to 'float up'. In the second quote, it clearly says that "the current exchange rate is reasonable and stable..." It is saying that the $43 billion USD that they have in their reserves is enough to support the rate as it is right now (current).

In short, the CBI just told us that they have enough in their reserves to support the rate as it is right now, and that they are going to adopt a managed float strategy to maintain it right where it is.

More info about what a managed float is at Wikipedia: http://en.wikipedia.org/wiki/Floating_exchange_rate

FP

Yeah I looked up managed float and thats exactly what CBI has been doing now for the last two years, so this isn't good. Thats why I feel this might be an old article given a new date.

The Oxford University Press Dictionary definition: Of a managed floating exchange rate is the system under which a country's exchange rate is not pegged, but the monetary authorities try to manage it rather than simply leaving it to be set by the market. This can be done in two ways: small fluctuations in the exchange rate can be smoothed out by the authorities buying the country's currency when its price would otherwise fall and selling it when its price would otherwise rise.

http://www.highbeam.com/doc/1O19-managedfloatingexchangert.html

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Hello? Anyone actually doing any research? If u are then first thing you would notice is that this has been happening for awhile now with the floating system. So do you also remember this little thing called the ERM? Look it up, not going to explain, but these systems are put into place to control supply and demand of a currency. Now is there a demand for worthless currency? Ah now ur thinkin, and what kind of supply do they have. Hmmmmm. And why would they want to control an untradeable and worthless rate? GET IT? because it's NOT going to be worthless and untradeable! Reality check, quit living ur life on this thing and wait for it. Its coming FAST!

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