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"Not Floating the Currency" - Sun. PM KTFA Thoughts/News 1/21/18

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"Not Floating the Currency" - Sun. PM KTFA Thoughts/News 1/21/18

Post  Ssmith on Sun Jan 21, 2018 9:41 pm


Samson » January 21st, 2018

Alaq announces the opening of a new branch of the central bank in Najaf

20th January, 2018 as per Delta's post

Iraq's central bank governor Ali al-Alak announced on Saturday, January 20, 2018, the imminent opening of a new branch of the central bank in the province of Najaf, while the new branch will provide services to the Middle Euphrates region.

"We will open a new branch of the central bank soon in Najaf to provide services to the Euphrates," he said at a press conference held at the Rafidain Center for Dialogue in Najaf.

"The relationship with the International Monetary Fund is a partnership relationship, and they have no conditions other than the development of the banking sector," adding that "the adequacy of foreign exchange reserves within international standards is 160%, which is a good indicator."

The governor of the Central Bank of Iraq Ali Alalak revealed, Tuesday, December 26, 2017, that the bank reserves of foreign currency of 48 billion dollars, pointing out that Iraq will not resort to floating the currency. LINK

Iobey77 » January 21st, 2018

Hmm...NOT Floating the Currency??? Something or someone tells me this may be worth noting and paying attention to...wonder WHY? they won't be "floating" the currency? Maybe it has to something with the 160% reserves or maybe it's something else???? I see fireworks coming!

Samson » January 21st, 2018

Visit of the Governor of the Central Bank of Iraq branch of Basra

More pictures at link


Giantkiller » January 21st, 2018

Hey Samson, Thanks for all you do!

It looks like Major Leakage to me!

It sure looks like Alak is presenting them a new display currency to put up on the wall.

I compared it to all old and new dinar notes on the CBI website and it does not match any of them. The ones on display in the windows are the Newest versions of the 25k, 10k, and 5k notes. I blew the picture up as much as I could on my computer but I can not make out the languages but I would bet that one of them is Kurdish. Could be the new One Dinar note??? Maybe???

Also in looking at the currencies of past and present I found that the 3 coins that were issued in 2004. The 25 dinar coin, the 50 dinar coin and the 100 dinar coin. I just have to wonder if these are the coins that were made for the RV too.

The first batch of New currency most of us hold was made issued in 2003. These were Issued in 2004 a year latter. I think Frank said that the coins were made a long time ago and if I remember right He said newer ones were made with the Kurdish language on them to make the Kurds happy. I just found this all interesting. Things that make you say Humm???

Don961 » January 21st, 2018

Monday, January 22, 2018

Forex Rally Continues

Major currencies continued their bullish trend in Tehran’s foreign exchange market on Sunday, prompting the rial to fall to record lows.

According to Tehran Gold and Jewelry Union’s website, the rial was quoted at close to 46,000 to the dollar, falling by 1.41% against the American currency, marking another psychological barrier to be crossed by the exchange rate within two days.

The rial also lost significantly against the euro and pound, two other high-demand currencies. It was quoted at 58,500 and 63,390 per euro and pound, respectively.

The gold market, however, experienced a calmer day with the benchmark Bahar Azadi gold coin gaining slightly. It fetched 15.22 million rials ($241 ) at Sunday’s close.

The volatility in the forex market has prompted a senior lawmaker to send a letter to President Hassan Rouhani on Sunday, warning him about the weakening of the national currency. Mohammad Reza Pour-Ebrahimi, the head of Majlis Economic Commission, told IBENA that fluctuations in forex rates would cause instability at the macroeconomic level and called on the central bank to step in and calm the rally.


Samson » January 21st, 2018

Baghdad agrees to pay the salaries of employees working on the operations of dams in Kurdistan

21st January, 2018

The Secretariat of the Council of Ministers said on Sunday that the federal government agreed to the Ministry of Finance to pay the salaries of employees and operators of dams in the Kurdistan region of the allocations of salaries The staff of Kurdistan and through the Ministry of Water Resources.

The Secretariat said in a statement published on January 21 that the Council of Ministers approved the Ministry of Finance to pay the salaries of employees and operators of dams in the Kurdistan region of the allocations of salaries of employees of Kurdistan and through the Ministry of Water Resources, where the decision of the Council based on what was presented by the Minister of Water Resources in Third regular session 2018. LINK

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Re: "Not Floating the Currency" - Sun. PM KTFA Thoughts/News 1/21/18

Post  Kevind53 on Sun Jan 21, 2018 10:04 pm

The rial is sucking bilge water, I fully expect that it will go the way of the so called ZIM very soon. Never mind the fact that it's still illegal for Americans to own rial.

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