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Established in 2006 as a Community of Reality

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Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

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rocky
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Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

Post by rocky on Mon 20 Aug 2018, 3:00 am

 Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (published 


8/18/2018) 
  

The Director of the Central Bank of Iraq branch of Basra Qasim Rahif, that the Central Bank of Iraq adopted several procedures and mechanisms in order to maintain the stability of the exchange rate of the dollar against the Iraqi dinar at 121 thousand dinars per 100 dollars.

"The central bank has been able to reach these measures, which will maintain the stability of the exchange rate at this point," he said in a statement to the prime minister. "The bank has reached this stage after several surveys and forecasts of exchange rates for the next stage.

He denied that the exchange rate of the dollar to exceed this limit in the coming period, between the 100 dollar range currently ranges between 120 thousand dinars and 121 thousand, unlikely to exceed this limit or up to 122 thousand dinars.

Iraq News Source:  [You must be registered and logged in to see this link.]
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weslin3
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Re: Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

Post by weslin3 on Mon 20 Aug 2018, 7:25 am

scratch scratch
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weslin3
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Re: Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

Post by weslin3 on Mon 20 Aug 2018, 7:31 am

And this is today's CBI auction. Been this way for a week or so.. Does anyone have any comments on the way they are doing it now..??? Or is it because of the holiday coming up?



Foreign Currency Selling Window for 27/8/2018 that performed on 20/8/2018

 

Announcement No.(3772)

                          Sale Date - 27/8/2018 that performed on 20/8/2018
Details Amount
Total sale for the purpose of strengthen outside assets (Transfers and credits)138,624,956
Total sale cash36,400,000
Total sale amount
175,024,956
Note:

  • Selling price of remittance money to bank accounts outside is (1190) ID for each Dollar.
  • Cash selling price is (1190) ID for each Dollar.

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Lobo
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Re: Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

Post by Lobo on Mon 20 Aug 2018, 12:18 pm

306 306
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weslin3
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Re: Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

Post by weslin3 on Mon 20 Aug 2018, 5:16 pm

[You must be registered and logged in to see this link.] wrote:306 306
But Lobo have you ever remembered them doing this before? I haven't and I been watching it nearly every day for 14 years.. I'm hoping they are winding down to a halt on the auctions. Maybe wishful thinking but this is what we need to see things fly..
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jedi17
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Re: Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

Post by jedi17 on Mon 20 Aug 2018, 6:31 pm

[You must be registered and logged in to see this link.] wrote: Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (published 


8/18/2018) 
  

The Director of the Central Bank of Iraq branch of Basra Qasim Rahif, that the Central Bank of Iraq adopted several procedures and mechanisms in order to maintain the stability of the exchange rate of the dollar against the Iraqi dinar at 121 thousand dinars per 100 dollars.

"The central bank has been able to reach these measures, which will maintain the stability of the exchange rate at this point," he said in a statement to the prime minister. "The bank has reached this stage after several surveys and forecasts of exchange rates for the next stage.

He denied that the exchange rate of the dollar to exceed this limit in the coming period, between the 100 dollar range currently ranges between 120 thousand dinars and 121 thousand, unlikely to exceed this limit or up to 122 thousand dinars.

Iraq News Source:  [You must be registered and logged in to see this link.]



MULTIPLE CURRENCY PRACTICES—POLICY

The Executive Board approves the decision set forth in SM/81/34, Supplement, 1 (3/17/81).
Decision No. 6790-(81/43),
March 20, 1981,
as amended by Decision No. 11728-(98/56),
May 21, 1998
SM/81/34, Sup. 1
The Executive Board has reviewed the Fund’s policy with respect to multiple currency practices. The Fund shall be guided by the approach outlined in the conclusions set forth below.

  • 1. Official action should not cause exchange rate spreads and cross rate quotations to differ unreasonably from those that arise from the normal commercial costs and risks of exchange transactions.

    • a.

      • (i) Action by a member or its fiscal agencies that of itself gives rise to a spread of more than 2 percent between buying and selling rates for spot exchange transactions between the member’s currency and any other member’s currency would be considered a multiple currency practice and would require the prior approval of the Fund.
      • (ii) An exchange spread that arises without official action would not give rise to a multiple currency practice.
      • (iii) Deviations between the buying and selling rates for spot transactions and for other transactions would not be considered multiple currency practices if they represent the additional costs and exchange risks for these other transactions.




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weslin3
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Re: Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

Post by weslin3 on Mon 20 Aug 2018, 7:08 pm

Thanks jedi... Trying to understand... lol!
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smartmouthy
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Re: Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

Post by smartmouthy on Wed 22 Aug 2018, 12:03 pm

This stuff is getting really OLD!

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Re: Central Bank: We adopt a mechanism to prevent the rise of $ 100 from the 121 thousand dinars (publi

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