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 Kaparoni - "Political Bickering" - Dinar Alert News Discussion 4/4/18

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Ssmith
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PostSubject: Kaparoni - "Political Bickering" - Dinar Alert News Discussion 4/4/18   Thu Apr 05, 2018 8:12 am

Dinar Alert

rv2018: Decrease in the dollar exchange rate in local markets


03/04/2018 Economy News _ Baghdad The exchange rate of the US dollar against the Iraqi dinar fell on the Central Struggle Exchange in Baghdad and local markets on Tuesday (3 April 2018).

Kifah Stock Exchange - Baghdad 120.200, while prices were yesterday 120.500.
Selling and buying prices in banking

The sale price of the dollar = 120.750 dinars. The purchase price of the dollar = 119.750 dinars

http://economy-news.net/content.php?id=11817

​​rv2018: A drop in the dollar exchange rate on the stock exchange and local markets

2018-04-03 The exchange rate of the US dollar against the Iraqi dinar fell on the Central Struggle Exchange in Baghdad and local markets on Tuesday (3 April 2018).

Kifah Stock Exchange - Baghdad 120.200, while prices were yesterday 120.500.
Selling and buying prices in banking

The sale price of the dollar = 120.750 dinars. The purchase price of the dollar = 119.750 dinars

https://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fburathanews.com%2Farabic%2Feconomic%2F330726

Moderator: Still holding. At the rate the dollar has been dropping against the dinar since January, I think we're going to see a sub-1190 dollar in 2-3 weeks. It's going to get really interesting when we get below the auction price.

According to the second article posted in the below thread, CBI has lowered its ask price in the auctions from 1190 to 1182. Margins are narrowing considerably for both dealers/banks and the CBI itself. Something's gotta give if this trend continues.

http://dinaralert.webs.com/apps/forums/topics/show/13475457-central-sales-of-foreign-currency-fall-12-million-usd?page=last

monty.monks.007:
11.90 that's the MAGIC number ! I M O.?


ZenMav: Hey Revbo, any chance they dial the exchange rate back to 1166 like it was a few years ago before the increase to 1184 or 88 (I can't remember ?)??

Kaperoni: Zen no, the rate was agreed and set by the IMF as part of the financial reforms.

Sweetpea: So what happens once they go below 1190?

Kaperoni: They won't Sweetpea. The Offical Rate is pegged at 1184 and the CBI commission is 6 dinar to 1190. The Market Rate cannot drop below 1190.

ZenMav: Thank you, Kap

Kaperoni: There continues to be people challenging the IMF rule about waiting 90 days to meet compliance. This 90 days is critical as described as a "financial soundness indicator." In other words, the IMF wants the CBI to prove themselves they are ready for Article VIII. Idiot gurus who post otherwise need to do their research. So here is the link from the Research Library....

“The exchange rate may fluctuate within narrow margins of less than ±1 percent around a central rate, or the maximum and minimum values of the exchange rate may remain within a narrow margin of 2 percent for at least three months.”

http://www.imf.org/external/pubs/ft/issues/issues38/ei38.pdf

The other thing that is important here is the current status of Iraq with the IMF. This is not a secret and is published on the IMF site...

Simply click on "Financial Position in the Fund" to see the current Article XIV position.

http://www.imf.org/en/Countries/IRQ

http://dinaralert.webs.com/apps/forums/topics/show/13475568-decrease-in-the-dollar-exchange-rate-in-local-markets

rv2018: Is it time to delete three zeros from the currency?

03/04/2018 Economy News Baghdad: The central bank submitted a project to delete three zeros of the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deteriorating security and political situation in the country.

The governor of the Central Bank, Ali al-Alaq, in a discussion session with the editors of a number of Iraqi media, including "Economy News", "The subject of deleting zeros from the currency is ready, but it needs an environment suitable to apply," noting that " To prevent manipulation and fraud by the owners of weak souls. "

The central government stands with the central bank's draft to delete three zeros of the currency, because it sees it "hurt the efficiency of the system of cash payments," according to the financial adviser to the prime minister.

He added, the appearance of Mohammed Saleh, in an interview, "the economy News," that "the current environment suitable for this project because there is financial and political stability witnessed by the country, especially after the salvation of the organization (Dahesh)."

He stressed the need not to rely on the project to support the Iraqi dinar, but "focus on the creation of all conditions that would support the Iraqi dinar and represented by political and economic stability," pointing out that "the central bank has accumulated experience in dealing with the subject."

The economist said, in the name of Jamil Anton, for "Economy News", "The current environment is not suitable for the project to delete the zeros at the moment, because the security situation has not settled so far in the ideal form."

He pointed out that "the project needs educational campaigns to be accepted by citizens and does not affect the movement of the market," noting that "the project has the benefits of reducing the amount of money used in deposits, which helps accountants not to fall in error in dealing with zeros in large amounts, As well as reduce the number of trustees funds and protect money from theft. "

Antoine predicted that the project would be implemented after the legislative elections scheduled for next May.

https://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Feconomy-news.net%2Fcontent.php%3Fid%3D11818

Moderator: So, Saleh says it's ready and Antoine says after elections. That gives us a pretty good timeline and, for lack of a better phrase, "back wall." After the elections would include IMF compliance date of around mid-June, as well, although there's no mention of IMF compliance by either of those quoted in this article.

Maybe we'll run into a situation where they float it first and then accept the terms of Article 8 a month or so later. Whatever happens, we're back in another window a la 2012/2014 where something is going to happen soon. Thanks, rv2018.

Terry: June it is.

Moderator: Terry, After 7 years, I can do two months in my sleep.

Invinrv: Thanks rv2018 Smile

Juliebug: Thanks RV!

Wn: Thank you ALL!

Kaperoni: Seems like this was our prediction. lol I do caution everyone though since it could take a few months after the elections to form a new government. The reality is that if they are waiting, it could be September before they are ready.

Mcduff82: I guess the investors that hoped to sign contracts will just have to wait or invest somewhere else

Abadi is taking the risk of loosing them even if he wins he may not have the majority when forming a new government and may still have to tango with Maliki and SOL

Paxx: Great article and highlights RV2018. Kap is probably right. Abadi did not finally make PM last time until August d/t all of the political bickering. Still the article definitely gives us hope.

Kaperoni: The Central Bank offers a project to delete three zeros from the currency in order to cope with inflation

2018/04/04 | 6:45 The Central Bank introduced a project to delete three zeros from the currency, in order to combat inflation and stimulate the economy, but was forced to stop because of the deteriorating political and security situation in Albulad.oukal central bank governor, on the Keywords, in a panel discussion with the editors of a number of Iraqi media: The « the subject of the deletion of zeros from the ready currency, but it needs to be suitable for application environment », adding that« the provision of appropriate environment contributes to the prevention of manipulation and fraud of weak souls owners »the central government, the stand with the Central Bank project to delete the three zeroes currency, because it sees« hurt in raising efficient system of cash payments »,

According to the Financial Advisor to the President Aovernmh.oodhav, the appearance of Mohammed Saleh, in an interview with «Economics News», that «the current environment is suitable for this project because there is a financial and political stability witnessed especially the country after the salvation of the organization (Daesh)».

He stressed the need not to rely on the project to support the Iraqi dinar, but «focus on creating all the conditions that will support the Iraqi dinar and of political and economic stability», pointing out that «the central bank has accumulated experience in dealing with the topic» .

fima, said the economist, Bassem Jamil Anton, said that « the current environment is not suitable for the project to delete the zeros in Right now, because the security situation has not yet stabilized as the perfect »He pointed out that« the project need education campaigns in order to accept it citizens and does not affect the movement of the market »,

indicating that« the project has benefits of reducing the amount of money used in the deposit, which helps accountants not to fall in the wrong in dealing with zeros in large amounts, as well as reducing the number of trustees to protect funds and money from theft ».otoqa Antoine that the work of this project after the legislative elections to be held next May.

https://www.almuraqeb-aliraqi.org/2018/04/04/106257/

Wn: According to the Financial Advisor to the President Aovernmh.oodhav, the appearance of Mohammed Saleh, in an interview with «Economics News», that «the current environment is suitable for this project because there is a financial and political stability witnessed especially the country after the salvation of the organization (Daesh)» Lets get 'er done this time. 60+ more days.

http://dinaralert.webs.com/apps/forums/topics/show/13475579-is-it-time-to-delete-three-zeros-from-the-currency-

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