Central Bank implemented a plan in next June to raise the exchange rate of the Iraqi dinar

Central Bank implemented a plan in next June to raise the exchange rate of the Iraqi dinar



Post 25 May 2013

BAGHDAD / Center Brief for the Iraqi Media Network (IMN ) A member of the parliamentary Finance Committee that the central bank told us that he will implement a new plan to raise the value of the Iraqi dinar exchange either the U.S. dollar.

A member of the Committee Faleh Djiashi,'s (IMN ) That "the Central Bank told the parliamentary Finance Committee that an action plan will apply early next June, would be enough to raise the exchange rate of the Iraqi dinar against the U.S. dollar."

He added that "the central bank works to reduce the number of companies that deal with it and put the money in the auction which will lead to a reduction in the value of the dollar and reliance on monetary policy open without complicated procedures and controls and a wide open field in front of the government banks."

The Finance Committee has announced the formation of a small committee composed of three deputies to monitor Srvaldanar of Iraq against the dollar, stressing that the practical measures undertaken by the central bank last week led to address the problem gradually.

The parliament may ضيفت week current governor of the Central Bank and the Agency Abdul Basit Turki and discussed with him the reasons for the high price of the dollar against the dinar.

Of: Raghad Doham, n: o St.

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Next, almost always means, this, in these articles.

did they say that and mean it??

SWEET!!!!!

I cant believe this ! it cant posible! No It cant be! i HAVE TO SEE IT AND FEEL IT. jUST LIKE THAT COME GET UR MONEIS ! NO iRAQ DONT DO ME LIKE THIS SAY IT IS MONIES IN MY ACCOUNT . HAHAHAHAH jUNE IS IN A FEW DAYS LETS SEE WHAT THEY MEAN ..... iF IT LOOKS LIKE DUCK AND TALKS LIKE A DUCK IT MUST BE A DUCK... YET NOT IN iRAQ!!!!

I wonder if this means bringing the program rate and street rate closer
Or if they are about to replace the dollar with dinar .I hope it is the RV
Love to hear Shredds thoughts on this

tlm724 wrote:That "the Central Bank told the parliamentary Finance Committee that an action plan will apply early next June, would be enough to raise the exchange rate of the Iraqi dinar against the U.S. dollar."

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IMF "Directors supported the objective of the Central Bank of Iraq (CBI) to liberalize the foreign exchange market and the recent steps to simplify market regulations"
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Set it free baby, liberalize !!!! *hallelujah*

this is my favorite part from the IMF art


Directors supported the objective of the Central Bank of Iraq (CBI) to liberalize the foreign exchange market and the recent steps to simplify market regulations. Further measures are needed to liberalize fully the supply of foreign currency, with the objective of lowering the exchange rate spread, removing distortions, and complying with Article VIII of the Fund’s Articles of Agreement. Directors considered that strengthening the Anti Money Laundering/Combating the Financing of Terrorism (AML/CFT) framework, in line with the Middle East and North Africa Financial Action Task Force (MENA FATF) recommendations and FATF standards, would be more effective than restricting foreign exchange in curbing money laundering and terrorist financing.
Directors agreed that a stable exchange rate, supported by a high level of international reserves, provides a valuable anchor in an uncertain environment. They agreed that the two tier architecture of prudent management of CBI reserves and use of the Development Fund for Iraq (DFI) as a de facto oil stabilization fund is appropriate. They urged the authorities to continue to rely on the DFI to help stabilize government spending and ensure oil revenue transparency.

If after putting these two together from sorces I would say are pretty reliable.. this just might be what we are hoping for..

sigh.

hope so.

Mcduff82 wrote:I wonder if this means bringing the program rate and street rate closer
Or if they are about to replace the dollar with dinar .I hope it is the RV
Love to hear Shredds thoughts on this

I actually fully believe the context here is bringing stability in the price against the exchange rate. The CBI absolutely must stabilize this discrepancy.

Thank you Shredd

CURIOUS..why would they wanna broadcast this out to the world, now everyone knows to buy dinar

ebu712 wrote:CURIOUS..why would they wanna broadcast this out to the world, now everyone knows to buy dinar

Kinda thought samething.

ebu712 wrote:CURIOUS..why would they wanna broadcast this out to the world, now everyone knows to buy dinar

That's just it...........the CBI has this issue around pricing and everyone knows it. Makes sense they tell everyone they will take care of the problem and how soon. This is why I'm saying this isn't the CBI saying they are going to RV the dinar in the way we are hoping but rather they are going to make the necessary adjustments to fix this issue around pricing.

On an article Player posted, it stated that the CBI has been trying to fix this issue via the auctions but it has obviously failed. This could be really good news for us....meaning, the CBI won't simply flood the market with enough dollars to bring the price back down. I believe the only option they have is manually increasing the value of the dinar which thereby decreases the dollar which will make the people happy. I don't think Iraq is ready to remove the zeros and release the new lower denoms so I don't think this move will be to a buck or more. I think they will manually move the price enough to swing the pricing.

Thanks Shredd

will lead to a reduction in the value of the dollar. Easy, just take them off the street.