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Economist: delay in the budget behind the rise of the dinar and the dollar will rise .. soon

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tlm724

tlm724
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[tlm724] the high exchange rate of the Iraqi dinar against the U.S. dollar, and expected recovery in the dollar to its previous status within days

[lightingcslt] tlm724 what you think that statement means

[tlm724] lightingcslt Ii was just thinking about that

[lightingcslt] to its previous status within days


[tlm724] I believe it may be referring to the auction

[lightingcslt] hmmm that was 3.22


[tlm724] but I am sure open for thoughts

[lightingcslt] to its previous status within days

[tlm724] yes but is he talking about it balancing out because the auction have been low ?

[lightingcslt] tlm724 but in reality Saddam put it at 3.22 but it was really 2.50 I believe


[tlm724] hmmm gotta think on this one

[lightingcslt] I'll say

[tlm724] The decline in the dollar exchange rate is normal because of the policy currently in auction Central Bank of Iraq and the mechanics of the entry money transfer companies to auction the central bank without the mediation of banks, where the drop in the price of buying and selling the U.S. dollar and foreign currencies is a positive thing for the policy of national exchange, trade

[lightingcslt] within days as well


[tlm724] where the drop in the price of buying and selling the U.S. dollar

[lightingcslt] yes

[tlm724] where the drop in the price of buying and selling the U.S. dollar

[tlm724] I think this is referring to the auction price

[lightingcslt] so its the auctions then dayum it    

[tlm724] maybe, I hopeI am wrong    

[tlm724] so saleh is saying it should normalize within days

[lightingcslt] that makes two us of us   
 

[tlm724] There are no stated policy on the relationship of the government and the central bank to increase the exchange rate of the Iraqi dinar, as the central bank attribution to enter the money transfer companies to its daily auction without the mediation of banks,

as the central bank attribution to enter the money transfer companies to its daily auction without the mediation of banks, adding that the financial market has sufficient amounts of foreign currency and the exchange rate does not affect the low for the market and the rate of movement of the sale and purchase of foreign currency in Iraq.

[tlm724] so the market fluctuations due to security etc has no effect on the exchange rate (dinar) because that price is controlled by the CBi

[lightingcslt] so they gonna stabilize the exchange rate on the dollar at the auctions

[tlm724]  that how I read it

[tlm724] lightingcslt sure looks that way

[lightingcslt] well ino how to do that   

[tlm724] it wouldn't surprise me to see the market rate drop a few more pips too

[lightingcslt] end them    


[tlm724] inching its way down into compliance    

[tlm724] need to see it around 1202 or adjust the rate to meet the spread    

[tlm724] may meet  in the middle


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Shredd

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First of all this is an economist so not banking on this too heavily but its a good article and the more i ponder, reducing the price differences may be a preparatory step before the project to remove the zeros commences. We wait to see.


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