Saleh: Great question marks on mechanisms to convert foreign currency to Iraq

wciappetta wrote:

Proven wrote:

Early1 wrote:

Screwball wrote:If auctions end they they need new monetary policy to manage exchange rate..

Agreed - but here is where it gets trickey - auctions can continue , but at a rate that will be noninflationary - that's why I say 10 cents to the dollar - for a long time, I have been able to see that an instantaneous RV of say - $3.41 won't work for the economy - would be huge inflation -I see more like a dime to move things forward - than in 4 - 5 years hit real value - what ever that is ?

True.  $3.41 would be outrageous!  The initial rate depends on how much money the CBI wants to put in the hands of citizens.  However, multiple times the CBI has stated that the dinar will equal the dollar.  How it gets there, all at once or a gradual climb, is another story.  After all these years, all I care about is it starts to do something.  We have seen more activity in the last 3 months than we have seen in years.  From articles, we know monetary policy has changed to "financial inclusion".  From a controlled economy to a market economy starting 2018.    

Ha the former CBI gov didn't find that range outrageous at all, makes no difference to them if one cannot wrap ones minds around it. Goodnight to all....

What a forgetful bunch:

The stability of the exchange rate of the dinar against the dollar

2008-8-4

[size=16]CAIRO - Muhammad Khalifa

[/size]Dr. Sinan Alshabibi Governor of the Central Bank exchange rate stability of the Iraqi dinar against the dollar, and that the bank encourages citizens to buy dinar and handling and keeping it

Where currencies began his confidence day by day and became keen on the conduct of the dollar and the dinar rather buy it as it saw Amian revealed dinar return to power, which led to the elimination of inflation, which we suffer from in the past.

He said Alshabibi told the (morning) during his participation in the Arab banking conference in 2008, held in Cairo under the slogan (the role of banks in financing investment projects in Arabic) sponsored by the Arab League, we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar and other foreign currencies and we are endeavouring and [b]serious in this regard, but added that this process is not easy and simple and depends on the supply and demand of Iraqi dinars.[/b]

And encourage the private sector in the transfer of capital between countries reported: that opportunities are open to all and free to move money to any country that wants alluding shortage of regulatory issues in this area because we are still suffering from a routine killer in most government departments, explaining that there Many banks have formed a civil relations with a wide Arab and international banks and well and bode well Annci and we were in isolation from the world banking over 30 years but at the same time we are moving very fast pace.

For his part, Associate Director of the Rafidain Bank Mohsen Abdel Hassan told (morning), which participated in the conference representatives from the banking Rafidain Bank came to participate in order to continue the banking interface between Iraq and Arab countries and return to the Arab ranks banking indicating that the participation of Iraqi banks in these conferences Arab and meetings are very positive because it is through the identification of the latest developments at the Arab Banking addition to agreements with various banks participating Conference.

He added that the Rafidain Bank has eight branches in the Arab countries two in Jordan and the other in Lebanon and Syria and Abu Dhabi, Cairo and Yemen, we have an ambitious plan to increase the number of bank branches to reach all the Arab countries, and provides services to these branches Iraqi community in the transfer of funds and other banking transactions addition to pay retirees of Iraqis who live in these countries.

He connected at the level of board chairman of the Union of Arab Banks Adnan Hamad Youssef told (morning): We have established strong relations with Iraqi banks as we work together to invest funds in the reconstruction of Iraq and through our union together, pointing out that we approached the Iraqi bank now to send a number of working in the Iraqi banks for training and rehabilitation in the Union and at the hands of expert professional bankers pointed out that we in the European aspire to attract bankers Iraqis through their support at all levels within and outside Iraq, explaining that the Federation began an ambitious plan establishment of several bank branches belonging Arab tent Union in Iraq After improvement of security.

Screwball wrote:

wciappetta wrote:

Proven wrote:

Early1 wrote:

Screwball wrote:If auctions end they they need new monetary policy to manage exchange rate..

Agreed - but here is where it gets trickey - auctions can continue , but at a rate that will be noninflationary - that's why I say 10 cents to the dollar - for a long time, I have been able to see that an instantaneous RV of say - $3.41 won't work for the economy - would be huge inflation -I see more like a dime to move things forward - than in 4 - 5 years hit real value - what ever that is ?

True.  $3.41 would be outrageous!  The initial rate depends on how much money the CBI wants to put in the hands of citizens.  However, multiple times the CBI has stated that the dinar will equal the dollar.  How it gets there, all at once or a gradual climb, is another story.  After all these years, all I care about is it starts to do something.  We have seen more activity in the last 3 months than we have seen in years.  From articles, we know monetary policy has changed to "financial inclusion".  From a controlled economy to a market economy starting 2018.    

Ha the former CBI gov didn't find that range outrageous at all, makes no difference to them if one cannot wrap ones minds around it. Goodnight to all....

What a forgetful bunch:

The stability of the exchange rate of the dinar against the dollar

2008-8-4

[size=16]CAIRO - Muhammad Khalifa

[/size]Dr. Sinan Alshabibi Governor of the Central Bank exchange rate stability of the Iraqi dinar against the dollar, and that the bank encourages citizens to buy dinar and handling and keeping it

Where currencies began his confidence day by day and became keen on the conduct of the dollar and the dinar rather buy it as it saw Amian revealed dinar return to power, which led to the elimination of inflation, which we suffer from in the past.

He said Alshabibi told the (morning) during his participation in the Arab banking conference in 2008, held in Cairo under the slogan (the role of banks in financing investment projects in Arabic) sponsored by the Arab League, we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar and other foreign currencies and we are endeavouring and [b]serious in this regard, but added that this process is not easy and simple and depends on the supply and demand of Iraqi dinars.[/b]

And encourage the private sector in the transfer of capital between countries reported: that opportunities are open to all and free to move money to any country that wants alluding shortage of regulatory issues in this area because we are still suffering from a routine killer in most government departments, explaining that there Many banks have formed a civil relations with a wide Arab and international banks and well and bode well Annci and we were in isolation from the world banking over 30 years but at the same time we are moving very fast pace.

For his part, Associate Director of the Rafidain Bank Mohsen Abdel Hassan told (morning), which participated in the conference representatives from the banking Rafidain Bank came to participate in order to continue the banking interface between Iraq and Arab countries and return to the Arab ranks banking indicating that the participation of Iraqi banks in these conferences Arab and meetings are very positive because it is through the identification of the latest developments at the Arab Banking addition to agreements with various banks participating Conference.

He added that the Rafidain Bank has eight branches in the Arab countries two in Jordan and the other in Lebanon and Syria and Abu Dhabi, Cairo and Yemen, we have an ambitious plan to increase the number of bank branches to reach all the Arab countries, and provides services to these branches Iraqi community in the transfer of funds and other banking transactions addition to pay retirees of Iraqis who live in these countries.

He connected at the level of board chairman of the Union of Arab Banks Adnan Hamad Youssef told (morning): We have established strong relations with Iraqi banks as we work together to invest funds in the reconstruction of Iraq and through our union together, pointing out that we approached the Iraqi bank now to send a number of working in the Iraqi banks for training and rehabilitation in the Union and at the hands of expert professional bankers pointed out that we in the European aspire to attract bankers Iraqis through their support at all levels within and outside Iraq, explaining that the Federation began an ambitious plan establishment of several bank branches belonging Arab tent Union in Iraq After improvement of security.

Nice blast from the past...always good to be a reminder why we are all in the game..