Your Source For All Things Dinar
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/P15pD0NCohM/dinar-value-on-the-streets-in-iraq-is-tanking-212866
[unable to retrieve full-text content]True, 1166/1148 isn’t a big spread, but I think the day traders have figured out a fix is in.
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/J7O7HDXAlqA/visual-proposes-mechanisms-quick-to-raise-the-value-of-the-iraqi-dinar-212834
5-22-13 Tlar: Article: “Visual proposes mechanisms quick to raise the value of the Iraqi dinar” Finally the voice of reason. Dr. Basri ought to be in charge of monetary policy in Iraq. He sees the need to introduce the new currency in order to put a stop on the crisis with the dinar. He sees the need for Taxes and Tariffs. He sees these thing as being needed now, not next year. Unfortunately his voice will most likely be lost in the chorus of “economic experts” that continue to sing stupidity, or Maliki’s quassi experts spouting mindless support for Maliki’s hidden personal agenda.
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/ADtc99MHQyw/baghdad-struggles-to-halt-devaluation-of-iraqi-dinar-212812
5-21-13 Iraq Business News: Over the last few days, the government in Baghdad has been preoccupied with attempting to control the exchange rate of the Iraqi dinar against the US dollar. The rate has been dropping since April, reaching its lowest at the beginning of this week.
During the preceding week on the local market, the dinar dropped against the dollar from 1,200 to 1,300, widening the gap against the official exchange rate by 121 dinars.
The Central Bank of Iraq (CBI) sells one dollar for every 1,179 dinars to authorized banks, which then sell it for 1,189 dinars to citizens traveling for medical treatment. Otherwise, traders and others looking to buy dollars must enter a public auction for hard currency sales managed by the CBI. This is one of a series of measures overseen by the Interior Ministry.
The CBI, the country’s monetary policy authority, recently held a series of meetings with members of the country’s Parliamentary Presidential Board — which consists of Speaker Osama al-Nujaifi, First Deputy Speaker Qusai al-Suhail and Second Deputy Speaker Aref Tayfur — to explain how to deal with the decline in the local exchange rate.
In a statement issued on May 12 and obtained by Al-Monitor, the Iraqi legislature announced that the parliamentary presidential board had met that day with Abdul Basit Turki, governor of the CBI by proxy and head of the Supreme Audit Board. It also proclaimed:
“The Parliamentary Presidential Board expressed its full support for the CBI scrutinizing the private banks’ activity, archiving information and taking reform measures, which include controlling the exchange rate of the dollar, reducing money laundering and strengthening the CBI’s capacity in economic development.”
In a separate statement, issued May 13, the parliament announced that Suhail had “chaired the Finance Committee’s meeting in the presence of CBI governor Abdul Basit Turki.” Suhail stressed “the need to determine procedures taken by the CBI’s administration to address the fluctuation in the dinar’s exchange rate against the dollar.” The parliament also emphasized, “It is important to know the true causes of this fluctuation, which will negatively affect the [quality of] life of the Iraqi citizen.”
The CBI’s governor, according to the statement, “gave a presentation of the CBI’s policy and recent activity, particularly the CBI’s auctions and its administration’s procedures to combat the fluctuation of the exchange rate for the dollar.” In addition, members of the parliamentary finance committee reviewed “their suggestions and recommendations on the developments in the auction and dollar-exchange methods.” They also stressed “the need to take measures to prevent some of those who trade with the money of the Iraqi people from exploiting the CBI’s auction.”
CBI officials refused to make comments to the media, but on May 13 local media circulated a statement by a banking source described as “high-level.” According to the statement, “The CBI’s foreign currency reserves amount to $ 74 billion” and that “this amount is the highest Iraqi foreign currency reserve ever.”
Economist Jawad al-Shammari said in an interview with Al-Monitor:
“The CBI follows a vigilant policy when dealing with the media. It is probably the party that leaked information on the increasing Iraqi foreign currency reserves in order to calm mounting fears as a result of the sharp decline in the value of the dinar against the dollar.”
“The CBI holds daily sessions to sell foreign currency with both governmental and private participation. The sales can be either in cash or in the form of overseas transfers in exchange for commission.”
Shammari believes that “this measure — which aims to control the dinar exchange rate against the dollar — is no longer effective due to the daily, increasing gap between what the CBI offers in the auction and the actual market need.”
Haider al-Abadi, head of the Parliamentary Finance Committee, confirmed having “received reassuring messages from CBI officials on controlling the exchange rate fluctuation.” Abadi said that the CBI took measures enabling citizens to obtain foreign currency from public and private banks, including transfers for travel or treatment. He reiterated, “The problem is limited to the gap between supply and demand for US dollars in the Iraqi market.”
The CBI holds daily sessions to buy and sell foreign currency with the participation of Iraqi banks, except for public holidays, during which the CBI suspends these auctions. The sales can be either in cash or in the form of overseas transfers for a commissioning fee.
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/fLibw2n36-E/introduce-the-new-currency-in-order-to-put-a-stop-on-the-crisis-with-the-dinar-212802
5-22-2013 Newshound Guru Tlar Article: “Visual proposes mechanisms quick to raise the value of the Iraqi dinar” Finally the voice of reason. Dr. Basri ought to be in charge of monetary policy in Iraq. He see’s the need to introduce the new currency in order to put a stop on the crisis with the dinar. He see’s the need for Taxes and Tariffs. He sees these thing as being needed now, not next year. Unfortunately his voice will most likely be lost in the chorus of “economic experts” that continue to sing stupidity, or Maliki’s quassi experts spouting mindless support for Maliki’s hidden personal agenda.
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/UcLWpZ-210s/increase-the-central-bank-balance-of-foreign-currency-will-support-the-iraqi-dinar-212628
5-20-13 Gamaray: Economic Analyst: increase the central bank balance of foreign currency will support the Iraqi dinar.
Economic analyst warned gentle Abdul Salem Okkaily, lend part of the monetary reserves of the Central Bank in the investment projects of the country, because it would hurt the economy and the national currency.
Ugaili said the increase in the central bank balance of hard currency to more than 74 billion dollars, will support the value of the Iraqi dinar and enhances the strength of the national economy.
I do not can use Bahtiat the central bank to finance any investment project in the country because it will affect the bank balance and thus hurt the economy and reduce the exchange rate of the dinar against international currencies.
This has been said a source in the central bank for central bank reserves increase to 74 billion dollars. The central bank had announced middle of last year that the size of the monetary reserves has an estimated 68 billion dollars.
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/tj4eT0SrkcM/the-decline-of-the-dinar-for-exchange-212604
5-20-13 aladalanews.net – Increasing demand and overcrowding on the green paper. The gap between supply and demand can accommodate an impressive 60 months ago 70 million dollars a day .. Vetoldt a black market and سعران of the exchange difference of 8 10%.
This is troubling us back to the policies of inflation and multiple exchange rates. Fajlav dinars “ranked match xerox” which turned not worth the paper worth .. And unforeseen tax paid by the citizens as a result of “inflationary Version”, the new dinar coin turning “difficult” value increased (20%) and more against the U.S. dollar (2004, 2012) .. As long as the dollar bought Dinars strong and “difficult”, this would dispel a policy doubts waste and smuggling, without eliminating the role of supervision and follow-up to prevent manipulation manipulators. Our problem is that we have Dinara strong source of oil imports, belongs to the weak economy omnidirectional Item depends on abroad .. Not only import and tourism .. But also for learning and medical care, immigration and residence, investment and speculative savings, etc.. And instead improve the performance of the economy to become strong, and strengthen the conditions of openness for the benefit of society and the national economy .. To become a regional center dinar and increases the strength of international demand for it, ran forward and started to download a successful monetary policy generally the consequences of failed economic policy in general. And we went to chase penny and the loss of the dinar, and the accusation and arrest people first to provide evidence and clues later. unless they change the concepts and procedures with the change regulations they Sttsadm, as is happening now .. When you give up on the official exchange rate for the benefit of supply and demand .. And restrict the conversion exceptions, to be launched after the provision of related items .. And when we seek to move to the National economy and a market economy, when you get these shifts, and deprived of strong dinar satiate the need of the dollar, that will weaken the economy, and pay the capital to escape and prevent others from coming .. And will reduce the confidence of the world and weakens Dinars .. Not based locally to the same stable foreign markets .. It will increase dependence on outside factors .. Inflation and encourages corruption and fraud .. And many Hoahdna, such as enterprise companies rapidly in different capitals, and are willing to provide the willing “bills” carry ratification embassies and companies, to facilitate the conversion for the purpose of import .. Such as access to dollars through the collection of passports, to take advantage of the price difference, and travel is no truth .. All بكلف the economy will pay extra for it and the citizen. economy كالطبيعة can invest laws and stave off some of the risks .. But do not can play Bhetwaznadtha and beyond its borders .. We only backfire Kanhbas thermal and “tsunami”, desertification, and we do not understand fluctuations.
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/2NA18jwZvsY/the-crisis-caused-by-the-high-exchange-rate-of-the-dinar-against-the-dollar-is-a-temporary-crisis-212621
5-20-13 Phoenix3333: Financial expert: a temporary rise in the dollar crisis in Iraq as “temporary” and will be remedied soon.
Today’s Article – Description of the financial expert Sameer, rising U.S. dollar crisis in Iraq as “temporary” and will be remedied soon.
The crisis caused by the high exchange rate of the dinar against the dollar is a temporary crisis, evidence that what was announced by the Central Bank reserves rose to $ 74 billion, adding that this represents a reserve to cover dollars.
He attributed reasons for the high dollar recently speculators dollar in the Iraqi market and this temporary situation can be controlled, stressing that Iraq over the situation very difficult on the rise and the low exchange rate of the dinar and the dollar.
However, saying that monetary policy if they deal with the mechanisms of sound and correct can control the financial market This is not taken, but in cooperation with the private banks through consultation with cash on economic policy, which is almost non-existent in the present time.
He is buying dollars for domestic banks and government during daily sessions for the sale and purchase of foreign currency held by the CBI, which is supposed to fund the traders from the private sector or for tourism and study outside the country, but this is not what happens when those banks Maysgel clear violation calculated on the instructions Central Bank.
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/I_7Nj0kAh4E/stability-of-the-exchange-rate-of-the-dinar-against-the-dollar-212408
5-18-13 Yota691: The start of the stability of the exchange rate of the dinar against the dollar gradually.
“Parliamentary Finance Committee confirmed that the exchange rate of the dinar against the dollar began to gradually return to stability after a series of measures taken by the central bank recently.”
A member of the Committee Secretary Hadi said that “the exchange rate of the dinar against the dollar began to gradually return to the state of stability as the dollar fell against the dinar to 1270 dinars to the dollar after breaking 1300 dinars to the dollar during the past few days.”
Hadi explained that “the problem began to fade after a series of measures taken by the Central Bank of Iraq is pumping extra amounts of Almuammlh difficult to market,” noting that “the foreign currency held by the central bank cover block twice as paper”.
He continued that “the problem was not with the central bank, but the banks and Chirfah companies, if the point during the last period failing to buy dollars from the central bank, which led to the high value of the dollar against the dinar.”
And Hadi and that “the Finance Committee and after the end of the holiday will add legislative and Minister of Finance and agency managers of all banks for the purpose of research topic and how to overcome the problems.” The Finance Committee has this week, and Central Bank Governor Abdul Basit Turki agency and discussed with him the reasons for the high price of the dollar against the dinar.
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/3z6L1x1yPBg/economic-committee-member-current-issue-with-dinar-is-not-natural-blames-poor-monetary-policy-212236
A member of the parliamentary economic committee continued decline in the price of the Iraqi dinar against the U.S. dollar, “the issue is not natural.”
He said committee member Amer winner today that “the low price of the Iraqi dinar against the dollar issue of abnormal and might lie behind certain purposes.”
He said the winner, “it was a meeting with the central bank on the issue of selling the currency in the market was agreed to sell the dollar for the delegates and pilgrims and those actions did not meet the purpose because the price is still volatile despite the announcement the central bank will raise the value of the dinar against the dollar, but there are mafias is Natural dealing with the dollar. “
And that “so far we do not know the dimensions of this volatility but there should be a remedy for this situation, but bear responsibility for that bank.”
And goes economists that the reasons for poor fiscal policy of the country, especially monetary and fluctuating exchange rate of the dinar against the dollar so many failed economic policy in the country its stability, and focus on the political differences that disrupted a lot of things the state and weakened, including fiscal policy or monetary, as well as the conditions of the country’s current generally do not particularly the security situation and the serious repercussions on citizens and life in the country
http://bit.ly/YT3Ril
Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/HnCYJ3lWHbg/cbi-want-this-to-stop-until-the-dinar-is-gone-212065
5-16-2013 Newshound Guru Kaperoni Article quote: “…the early hours of the morning each day, gatherings of crowds of people hoping to get an early opportunity to buy dollars from the banks, then selling the dollar and get profit from the price difference in the market,… ” Everybody and there brother are trying to get dollars to sell and make a profit now. That will clean up the dinar big time! I can imagine the loads of dinar being sold to the banks in the morning. IMO, no way does the CBI want this to stop until the dinar is gon
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