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Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


Citizen suffering from persistent volatility

dizzydee
dizzydee
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Citizen suffering from persistent volatility - Page 2 Empty Citizen suffering from persistent volatility

Post by dizzydee on Thu 11 Jul 2013, 9:07 pm

First topic message reminder :

Observers expect that the Iraqi dinar has a promising future, especially after the exit of Chapter VII, so requires the Central Bank to take bold steps to determine the fixed rate of the dinar against the dollar through an auction sale of currency to avoid oscillation in the dinar exchange rate, as a student member of the parliamentary Economic Committee, mehma Khalil, Deputy Central Bank set a new price for the Iraqi dinar to the dollar coin, and there must be a real rate of the dinar. Khalil: political maintain currency and Iraqi dinars from the functions of the Central Bank, and the signals observed internationally, economically, that there is a future for dinars, adding: there shall be the exchange rate of the dinar against the dollar (1300) or (1200) Iraqi dinar, that this price is when the balance was $ 10 billion, and today the balance of sovereign Iraq (76). political and the Central Bank to keep Bank is incorrectAnd demand that there be a strong Iraqi dinar, because what exists of the citizen, however, the Iraqi dinar is equal to the real market price, prompted the Bank to invest after the Iraq Dinar force of Chapter VII, and that today the Central Bank required that there be a new price against the dollar. He said: that, of all goods entering Iraq in dollars, there must be a real rate of the Iraqi dinar, because the power of solid and strong dinar on the sovereign and strong economic balance plus: that Iraqi citizens suffering from the weakness of the Iraqi dinar against the dollar. the parliamentary Finance Committee attributed the Iraqi dinar exchange rate fluctuations against the dollar to influence brokers to buy and sell the dollar in the Central Bank auction, MP on the Committee, said Abdel Hussein Al-yasiri that: «is assumed to be constant for the local currency is determined by the Central Bank through an auction sale of currency. He noted: "the rise in the exchange rate as a result of the presence of the first Government and the other markets a parallel which is treated through intermediaries and have had the effect of withdrawing the dollar amounts sold to influence Exchange rates» and «correct treatment would price to official price». Mentioned: that is a member of the Economic Committee in the Iraqi Parliament Abdel Salam Al-Maliki, reaffirmed earlier: that the Iraqi Government to take urgent steps to strengthen the Iraqi dinar Iraqi market by turning to a promising market. Even the Iraqi dinar is gaining strength, the Iraqi Government will take immediate steps to transform the Iraqi market is a promising market, adding: "the Iraqi Central Bank is responsible for monetary policy and the trend of integration of work between the Central Bank of Iraq and the Iraqi Government. He added: "this is necessary to rid Iraq from Chapter VII to be for large purchasing power of the Iraqi dinar equivalent dollar determined Parliament's Economic Committee on this subject will be appeals and communications to turn to state her presence in international economic forums». «explained the Central Bank's plan to raise zeros from the currency exists since a long time and have been discussed with officials of the Bank several times and with the Finance Committee in the Iraqi Parliament and demanded the Government should wait until the appropriate time." and: Time «time to start this project due to the departure of Iraq from Chapter VII. "and the exchange rate of the Iraqi dinar against the u.s. dollar fluctuated from time to time depending on the political and economic conditions.

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weslin3
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Post by weslin3 on Fri 12 Jul 2013, 5:42 pm

Thanks Neno! Article sounds good... and thanks rocky for finding the article.


I especially like this statement;  there must be a real rate of the dinar.  
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2020
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Post by 2020 on Fri 12 Jul 2013, 8:57 pm

[You must be registered and logged in to see this link.] wrote:They're saying that the IQD needs a strong fixed price because it doesn't match the current one at all. The price they have now doesn't match what they have in their reserves. They're also saying that this is necessary because they are not under CH7 anymore :)

 Hkp1, duck, ward - they don't have to maintain 1 to 1 in their reserves if I'm not mistaken. According to most banking formulas, they can leverage those reserves just like everyone else in the world, especially the U.S. at this point. Seems like ward posted some mathematics a couple of years ago that compared several countries reserves vs rate - and it was something like 10:1 if they really wanted to stretch things...?  We certainly have. (from memory, it seems as though if they followed the ratios the US was currently operating by, they could justify a 14:1 ratio. Add to that an ever growing amount of proven reserves, and by comparison virtually no debt - they are in a very strong position. Ward, duck, Hkp1 - is my memory that far off.....?  I'm not stating some wild rate, but a return to the mid-three's as before the sanctions wouldn't seem to be that much of a stretch. I am open to schooling. :?:

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