Author Topic: [michigander 6/16/2015  (Read 278 times)

Online arizona49

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 10113
[michigander 6/16/2015
« on: June 16, 2015, 02:27:41 PM »
[michigander] A government source (dinars): Dollar rises behind political overtones .. and 90% of the sales of the bank remittances 2015-06-16 Dinars / Adnan Abdul Hassan / .. government source confirmed that the political dimensions behind the high price of the dollar, while noting that 90% of dollar sales in the Central Bank is of remittances and 10% cash sales only. " The source, who declined to be named in an exclusive interview told / JD /: "The dollar's exchange rate is not a government decision but respect to supply and demand, and because of lower oil prices, what you get state of the hard currency is much less than the previous, and when the supply of dollar less than Markets need it makes sense to increase the rate of exchange. http://www.dananernews.com/News_Details.php?ID=5852 ..... [michigander0131] This is so true that most of the sale is now through the remittances. Until Iraq's banking system and economy emerges to a point that the Dinar can stand on it's own and is freely accepted worldwide, they remain dependent on the dollar.

[michigander0131] The central bank to take new action to stop the decline of the dinar Tuesday 16-06-2015 Twilight News CBI / decided on Tuesday considered Saturday of each week normal working days, which means holding an auction to sell dollars and pumping more than in the domestic market in an effort to halt the decline of the dinar. The bank said in a statement seen by Twilight News that he "decided to consider Saturdays of each week normal working days," noting that "this action will be effective in the day on Saturday the 20th of June the current." The bank said that "the purpose behind it is to meet the requests of banks foreign currency." The dollar price in the domestic market in front of the Iraqi dinar gradually to reach more than 1440 dinars to the dollar, compared to 1225 thousand dinars to the dollar during the month of February and 1,200 dinars to the dollar by the end of last year 2014. The bank also decided to reduce the period of deposit for feeding the external accounts of banks amounts, indicating that the deposit will be reduced from ten days to five days, and as of next July. http://www.ara.shafaaq.com/14653 ......  [michigander0131] Well so now we know what the new measures are...they are going to sell on Saturdays and they are going to increase the amount of dollars. It continues to amaze me that for years the IMF tells them the same thing all the time, yet this is about the 5th time over the last 8 years they do the opposite..as if they think they know better and the result is always the same..the market rate slides. There is really no excuse for such poor management of the currency which all started with Maliki interferring.
[michigander0131] and with Maliki still in charge of cbi through his Proxy he put there How can they not see the currency in going down the drain

[michigander0131] In a large collapse of the Iraqi dinar ...... per dollar exchange rate jumps to 1,400 dinars June 15, 2015 Local markets witnessed high exchange rates of the US dollar against the Iraqi dinar to 1,400 dinars to the dollar, that is equal to the percent of $ 140 000 dinars. The official exchange rate of the Central Bank of Iraq in 1166 dinars per dollar, meaning it is the official price rose about 234 dinars, an increase of 20%. Attribute specialists and economists this increase to the dollar in the domestic market, to a lack of supply of the dollar at an auction sale daily currency Central Bank of Iraq, which identified the quantification of the law of the general budget for 2015 by $ 75 million just after it was open, so called for the increased demand for foreign currency to fulfill banks and businessmen Baltazamthm and the market need for financial liquidity.  http://burathanews.com/news/268872.html ...... [michigander0131] for a long time many shrugged off the significance of a stable market rate. Now Iraq's economy is on the brink of collapse Very serious.

[michigander0131] Newspapers today warning of an imminent collapse of the Iraqi economy Writings Tuesday, June 16, 2015 BAGHDAD / Nina / cared issued in Baghdad newspapers on Tuesday morning, the sixteenth of June, the celebration of the anniversary of the Iraqi press, in addition to the follow-up to the sudden and rapid rise of the price of the dollar against the Iraqi dinar, and he warned some of the imminent collapse of the Iraqi economy. Newspaper / Zora / issued by the Iraqi Journalists Syndicate, highlighted in the theme of the president on the front page, saying the Iraqi Journalists Syndicate pro-Lami, on the occasion of the celebration of 146 anniversary of the Iraqi Press: 'The Iraqi journalist working hard and difficult and more like the sea crashing'.  http://translate.google.com/translate?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=auto&tl=en&u=http://www.kitabate.com/index.php%3Fpage%3Darticle%26id%3D53367 .....

[michigander0131] Dr. Haider al-Abadi, Save the monetary sector, it is the last remaining of the sustainability of the Iraqi economy! Ahmed Hamed Hathal Tuesday, June 16, 2015 Often I spoke on the deviation from the objectives of monetary policy which aims to achieve and most importantly, price stability and preserve the value of the national currency. Today the dinar continues to decline, and the prices are on the rise, the central bank floundering in its monetary policy continuously, which became the influential monetary policy to protect their interests. We are tired of giving suggestions for officials and through newspapers, websites, and the location of the writings of the best witness to that, and channel Baghdadi as well .. We have made since it began dollar crisis against the dinar, at the end of 2014 and beginning of 2015, we must be that the central bank notice the deviation policy the direction of monetary exchange rate, because the currency continues to decline against the dollar, and worse than that the central bank is independent variable in the foreign exchange market model, which he who controls the exchange rate against the dinar, because it is an independent body and the Bank of banks the main problem faced by the exchange rate is to put massive amounts of hard currency in the hands of the (thief), Does that make sense! (Harami) are banks civil and banking companies who are smuggling hard currency without entry imports versus the currency exit Wares most prominent solutions to the stability of the exchange rate: 1. Changing the Central Bank of the non-specialist to specialist in the economy. 2. The Ministry of Finance is working in coordination with the Central Bank to give 25% of the foreign currency as well as the national currency, Croats staff. 3-Cancel auction for domestic banks and banking companies. 4. Central Bank resolves civil banks and companies replace the high level of transparency and the conduct of foreign currency.  http://translate.google.com/translate?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=auto&tl=en&u=http://www.kitabate.com/index.php%3Fpage%3Darticle%26id%3D53355   [michigander0131] Abadi is as frustrated as we are..and his statement implies Allaq is intentionally destroying the economy. Makes you wondering if Maliki is behind it.

[michigander0131] Both the WTO accession committee and the IMF have encouraged the dinar to be valued higher. In fact, it was once stated by the accession committee that full accession would not come.."until the dinar is more on par with the dollar." So there is a real sense that the dinar is undervalued and needs to have a correction..getting off the peg and floating the dinar is the best solution to accomplish that. 

[michigander0131] Deputy: the Abadi reconsider the management of the Central Bank Tuesday 16-06-2015 | 8:40:39 Twilight News / demanded by the citizen Bloc MP Hamdiya Husseini on Tuesday, Prime Minister Haider al-Abadi reconsider persons based on the conduct of monetary policy, accusing the central bank's management to follow the "unsuccessful" policies. Husseini said in a statement responded to Twilight News "The rise in prices was due to the monetary policy of the State and some of the decisions taken by the Central Bank of Iraq that," adding, "must be managed monetary policy of competent persons have the experience and competence in monetary and economic policy in this area." She continued, "the Prime Minister to entrust the Central Bank of Iraq is to have the highest personal and economic experience certificate in the area of ​​monetary policy."  http://www.ara.shafaaq.com/14681 ....... [michigander0131] i beleive some big changes coming to CBI