Unrest in the Iraq Dinar Rate

by Guest Mon Apr 01, 2013 11:20 am

The news outlets are now reporting unrest with the dinar and its current exchange rate. In my opinion the Iraqis are still wanting the dollar to do business with and cannot get as much since the CBI put more controls on the US dollar. To me this means they will need to implement the exchange rate policy and soon.
AJ

Ismail Radi: increase outlets hard currency at banks will support the dinar exchange rate against the dollar

01-04-2013 | (Voice of Iraq)-
Baghdad (newsletter)

Economist Ismail said Radi, to further open the ports for the sale of foreign currency by banks will contribute to lower the exchange rate of the US dollar against the Iraqi dinar, to meet the market need for dollars.

He said content (News Agency): because of the increase in the exchange rate of the US dollar against the Iraqi dinar during the current period in the local market, due to strict Central Bank actions to sell hard currency and lack of dollar in the market.

He added: the Government's Rasheed Bank opened ten outlets to sell hard currency at subsidized prices from the Central Bank would contribute significantly in strengthening the national currency, encouraging banks to open more than one port to sell hard currency control with external financial transfers.

The General said Kazem Mohammed Rasheed Bank nashor, processing over 10 dollar citizens of branches in Baghdad starting this week.

The Iraqi market has experienced considerable unrest in recent weeks in the price of the US dollar against the Iraqi dinar as the sale price of one dollar to 1280

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.sotaliraq.com%2Fmobile-news.php%3Fid%3D94516

by Guest Mon Apr 01, 2013 11:21 am

Interesting...very interesting.

by Guest Mon Apr 01, 2013 11:24 am

From my friend Phil.

From my readings this morning...The 2013 budget HAS NOT been released and "The Council of Ministers will vote, during Tuesday session, on the amendment of the General Amnesty Law and the Accountability & Justice Law." The Law of Antiquities (Article 14) during Wednesday's session. It something about these 3 laws that have to be PASSED before they can effectively deal with Maliki and the laws dealing with the conversion of their currency. I will periodically, try to update you guys as more comes out today. The positive is the budget hasn't been released, even though Finance Minister said he would start paying the Provinces as soon as today.

Phil