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CBI has changed setting from fixed to float. DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

CBI has changed setting from fixed to float.

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Post by justdawnagain Wed Jan 18, 2012 8:39 pm

If this has been posted already, I apologize.

http://www.forexpros.com/currencies/usd-iqd

Half way down the page you see this:

Bullish Bearish Pitches

Jan 18, 2012
CBI has changed setting from fixed to float.


I looked up with fixed and float meant and it makes me worry. This is what I found:

Fixed Exchange Rates
There are two ways the price of a currency can be determined against another. A fixed, or pegged, rate is a rate the government (central bank) sets and maintains as the official exchange rate. A set price will be determined against a major world currency (usually the U.S. dollar, but also other major currencies such as the euro, the yen or a basket of currencies). In order to maintain the local exchange rate, the central bank buys and sells its own currency on the foreign exchange market in return for the currency to which it is pegged. (To learn more, read What Are Central Banks? and Get To Know The Major Central Banks.)

If, for example, it is determined that the value of a single unit of local currency is equal to US$3, the central bank will have to ensure that it can supply the market with those dollars. In order to maintain the rate, the central bank must keep a high level of foreign reserves. This is a reserved amount of foreign currency held by the central bank that it can use to release (or absorb) extra funds into (or out of) the market. This ensures an appropriate money supply, appropriate fluctuations in the market (inflation/deflation), and ultimately, the exchange rate. The central bank can also adjust the official exchange rate when necessary.

Floating Exchange Rates
Unlike the fixed rate, a floating exchange rate is determined by the private market through supply and demand. A floating rate is often termed "self-correcting", as any differences in supply and demand will automatically be corrected in the market. Take a look at this simplified model: if demand for a currency is low, its value will decrease, thus making imported goods more expensive and stimulating demand for local goods and services. This in turn will generate more jobs, causing an auto-correction in the market. A floating exchange rate is constantly changing.

In reality, no currency is wholly fixed or floating. In a fixed regime, market pressures can also influence changes in the exchange rate. Sometimes, when a local currency does reflect its true value against its pegged currency, a "black market", which is more reflective of actual supply and demand, may develop. A central bank will often then be forced to revalue or devalue the official rate so that the rate is in line with the unofficial one, thereby halting the activity of the black market.

In a floating regime, the central bank may also intervene when it is necessary to ensure stability and to avoid inflation; however, it is less often that the central bank of a floating regime will interfere.


LINK: http://www.investopedia.com/articles/03/020603.asp#axzz1jrZDajd8

This doesn't sound good to me. I know I am confused about all this so if anyone would like to explain this to me, I would be very appreciative.

Thanks =)
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Post by geezer Wed Jan 18, 2012 8:50 pm

http://www.oanda.com/currency/currency-code same thing here too
:cheers: this is a good thing means its open to the market i think..
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Post by justdawnagain Wed Jan 18, 2012 9:01 pm

Thanks Geezer. I thought it meant that too. What I worry about is when I went and looked up what fixed and floating meant, it seems that a fixed currency is more likely to be revalued than a floating currency. I am sure I am misunderstanding the article I linked. The last paragraph in that article says this:

And while a floating regime is not without its flaws, it has proved to be a more efficient means of determining the long-term value of a currency and creating equilibrium in the international market.

LINK: http://www.investopedia.com/articles/03/020603.asp#axzz1jrZDajd8

Makes me think we still have a long way to go. Thoughts?

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Post by ghosthunter Wed Jan 18, 2012 9:03 pm

@geezer wrote:http://www.oanda.com/currency/currency-code same thing here too
:cheers: this is a good thing means its open to the market i think..

I agree, geezer, and I think it also sounds like it allows the CBI to changing its value more easily. And it also sounds like it wouldn't be any trouble for them to move back to a "fixed" currency. I think any change in dealing with Iraq's at this point is a very encouraging one!

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Post by justdawnagain Wed Jan 18, 2012 9:07 pm

OH THANK YOU GUYS! I didn't think about them being able to change it back to a fixed currency... duh. Much happier =). Sorry I had a panic attack. See... I should just keep my silly questions to myself!

Thanks =)
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Post by Guest Wed Jan 18, 2012 9:21 pm

MORE GREAT NEWS!!!!!!!!!

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Post by Tyler Wed Jan 18, 2012 9:44 pm

From what I read of the definitions above, moving to a float also means the can free up the reserves used to keep the rate stable for other things if they wish to...

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Post by ghosthunter Wed Jan 18, 2012 9:47 pm

@Tyler wrote:From what I read of the definitions above, moving to a float also means the can free up the reserves used to keep the rate stable for other things if they wish to...

Great observation!

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Post by Kevind53 Wed Jan 18, 2012 9:47 pm

I take float as a good thing, and confirm it is showing that way on trade sites.

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Post by geezer Wed Jan 18, 2012 9:49 pm

IT WASNT THAT WAY YESTERDAY... :study:
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Post by Kevind53 Wed Jan 18, 2012 9:52 pm

No I didn't see it earlier ... good catch.

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Post by Katieperryfan Wed Jan 18, 2012 10:26 pm

IMHO this is a clear sign it's coming very soon, awesome find...

Fixed was needed to maintain an 1170 program rate, despite real value
Floating is needed to be an Internationally, tradeable currency
Floating allows an RV to handle inflation

Once released it will stay in a programmed range (2%??) but will still float

God Bless

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Post by ghosthunter Wed Jan 18, 2012 10:44 pm

@Kevind53 wrote:I take float as a good thing, and confirm it is showing that way on trade sites.

This just keeps getting better and better!!! I think things are looking up...up...UP!

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Post by Bcolorad Wed Jan 18, 2012 11:21 pm

Revaluation means a rise of a price of goods
or products. This term is specially used as revaluation of a currency,
where it means a rise of currency to the relation with a foreign
currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. The antonym of revaluation is devaluation. Altering the face value of a currency without changing its foreign exchange rate is a redenomination, not a revaluation.

http://en.wikipedia.org/wiki/Revaluation


ummm....Go Appreciation?
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Post by 707RV Thu Jan 19, 2012 12:18 am

did you guys notice that on the cbi website it
used to say USD buy 1168 and sell 1170. its been that way for months. today it says USD buy for 1164 and sell 1166. thats a good sign

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Post by Ponee Thu Jan 19, 2012 12:43 am

@geezer wrote:http://www.oanda.com/currency/currency-code same thing here too
:cheers: this is a good thing means its open to the market i think..



You have been such a "good old geezer lately", I hardly recognize you! lol :cheers: :cheers:
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Post by red man Thu Jan 19, 2012 12:58 am

float float your boat...

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Post by fridayh Thu Jan 19, 2012 1:13 am

http://www.forexpros.com/currencies/usd-iqd ON THIS SITE IT SAYS THE THE IQD IS A FLOAT AT 11.66...BUT IT IS NOT SHOWING ON OTHER CURRENCY SITES....SOOOOOOOOOOOOOO DO WE HAVE AN RV OR NOT??? SOMEONE LET ME KNOW!! CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 3151798102 CBI has changed setting from fixed to float. 3151798102

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Post by therealbutterfly Thu Jan 19, 2012 5:13 am

@fridayh wrote:http://www.forexpros.com/currencies/usd-iqd ON THIS SITE IT SAYS THE THE IQD IS A FLOAT AT 11.66...BUT IT IS NOT SHOWING ON OTHER CURRENCY SITES....SOOOOOOOOOOOOOO DO WE HAVE AN RV OR NOT??? SOMEONE LET ME KNOW!! CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 3151798102 CBI has changed setting from fixed to float. 3151798102

It shows 1166 when I go there. When it DOES change value, it will change on all sites, not just one. Dont get excited when one site shows some change. It happens from time to time on the forex sites.
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Post by dinarace Thu Jan 19, 2012 5:37 am

fridayh, you misplaced the decimal big time.

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Post by geezer Thu Jan 19, 2012 7:47 am

@therealbutterfly wrote:
@fridayh wrote:http://www.forexpros.com/currencies/usd-iqd ON THIS SITE IT SAYS THE THE IQD IS A FLOAT AT 11.66...BUT IT IS NOT SHOWING ON OTHER CURRENCY SITES....SOOOOOOOOOOOOOO DO WE HAVE AN RV OR NOT??? SOMEONE LET ME KNOW!! CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 3151798102 CBI has changed setting from fixed to float. 3151798102

It shows 1166 when I go there. When it DOES change value, it will change on all sites, not just one. Dont get excited when one site shows some change. It happens from time to time on the forex sites.
IT SAYS IT ON OANDA TOO IT WASNT THAT WAY A COUPLE DAYS AGO..
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Post by geezer Thu Jan 19, 2012 7:48 am

@ponee wrote:
@geezer wrote:http://www.oanda.com/currency/currency-code same thing here too
:cheers: this is a good thing means its open to the market i think..



You have been such a "good old geezer lately", I hardly recognize you! lol :cheers: :cheers:
:evil: hemademe bigsmile
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Post by fridayh Thu Jan 19, 2012 8:44 am

THANK YOU FOR ANSWERING ME....AND NO I PUT THE DECIMAL RIGHT WHERE THEY HAD IT......

NOW HERE ONE MORE SAY SOMEONE SOLD 2.5 MILLION DINAR FROM YOU....DO YOU STILL HAVE TO PAY TAXS ON THAT???? IF YOU GOT IT FROM A DEALER WOULD THEY HAVE THE SERIAL NUMBERS ON IT??? WHAT SHOULD I DO????

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Post by Ponee Thu Jan 19, 2012 9:18 am

Pesky decimal points...they look like little black widgets to me. Trouble makers all of them . Nothing worse than an incognito widget. Causing trouble.

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Post by EARTex Thu Jan 19, 2012 9:35 am

It was a member remark on Forex. I think the member misinterpreted the CBI change in numbers to be a float. Forex has a new member remark today. CBI has the same figures as yesterday. I don't believe they will change with the market as Forex's numbers do.

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Post by therealbutterfly Thu Jan 19, 2012 12:16 pm

@fridayh wrote:THANK YOU FOR ANSWERING ME....AND NO I PUT THE DECIMAL RIGHT WHERE THEY HAD IT......

NOW HERE ONE MORE SAY SOMEONE SOLD 2.5 MILLION DINAR FROM YOU....DO YOU STILL HAVE TO PAY TAXS ON THAT???? IF YOU GOT IT FROM A DEALER WOULD THEY HAVE THE SERIAL NUMBERS ON IT??? WHAT SHOULD I DO????

Do you mean you sold 2.5 mill to someone? If you sold it for more than you bought it for, technically, right now, you might have to pay taxes but it depends on your overall income. But thats neither here nor there since I think you are asking about future taxes due on that 2.5 mill that you now dont own, right? NO, you dont owe taxes on anything you dont own. You sold it, its not yours anymore so no taxes due when it is exchanged. No one cares how much you bought, there is no one forcing you to ever cash it in. If you NEVER exchange your dinar even when its over, you dont owe taxes. You pay taxes when you create a taxable event. Cashing it in is an event. Sittin in your safe is not an event. Hope that helps!. Smile
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Post by therealbutterfly Thu Jan 19, 2012 12:20 pm

@geezer wrote:
@therealbutterfly wrote:
@fridayh wrote:http://www.forexpros.com/currencies/usd-iqd ON THIS SITE IT SAYS THE THE IQD IS A FLOAT AT 11.66...BUT IT IS NOT SHOWING ON OTHER CURRENCY SITES....SOOOOOOOOOOOOOO DO WE HAVE AN RV OR NOT??? SOMEONE LET ME KNOW!! CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 761671673 CBI has changed setting from fixed to float. 3151798102 CBI has changed setting from fixed to float. 3151798102

It shows 1166 when I go there. When it DOES change value, it will change on all sites, not just one. Dont get excited when one site shows some change. It happens from time to time on the forex sites.
IT SAYS IT ON OANDA TOO IT WASNT THAT WAY A COUPLE DAYS AGO..

Are you saying Oanda had the rate at 11.66 too? Not that it really matters since it would be a change on all the sites when its real. But just curious.


I would LOVE a rate of 11.66 right now cuz that would be close to my dime rate!!!! That would be $.086 and I would take that in a heartbeat right now. LOL!!!!
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Post by justdawnagain Thu Jan 19, 2012 12:25 pm

OK.. looks like a guy named MED said that Iraq was never fixed and not really at a float. That was some guy on Forex just typing in what he thought... it wasn't forex saying that.

MED said:

MED CHAT, 19 JAN
Med says to (06:01:53):
JUST A COMMENT
THE DINAR HAS NOT EXPLODED ONTO THE MARKET IN A FLOAT
IT IS NOT EVEN ON THE MARKET

IT IS STILL ACCORDING TO THE IMF
IN A CRAWLING PEG AGAINST THE USD
OR WHAT IS CALLED A DIRTY FLOAT
MANIPULATED BY IT'S OWN CENTRAL BANK
NOT ANY OTHERS

BUYING UP AND OR SELLING IT'S OWN CURRENCY
DEPENDING ON THE CURRENT FLUCTUATION IN THE IRAQI...
I SAY IRAQI MARKETS ON THE STREETS
SINCE THERE IS NO OTHER MARKET AVAILABLE FOR THE DINAR

AND ALSO WE NEED TO REMEMBER THAT THE DINAR
IS STILL UNDER ARTICLE XIV IN THE IMF
AND MUST MOVE TO ARTICLE VIII
WHICH THE CENTRAL BANK HAS NOT DONE
THIS IS NOT AS SIMPLE AS ONE DAY READING ON A FOREX SITE
THAT IT IS NOW A FLOAT

IRAQ IS IN AN SBA AGREEMENT RIGHT NOW WITH THE IMF
NOW THIS 1166 IS NOW AN OFFICIAL RATE OF EXCHANGE
I AM NOT JUMPING FOR JOY AT 4 PIPS

THOUGH OK IT HAS MOVED
BUT IT NEEDS TO MOVE LIKE 1200 FOR ME TO BE JUMPING
LOL
TY


There is more on his chat but I wasn't sure if it was against the rules to post a link to that other site and I didn't want to get in trouble... so I didn't. Anyways... what he says about being under the SBA agreement with the IMF is true and that doesn't expire until July 2012. I am sure this is old news... but how does it effect the RV? (Sorry - confused as always)

Here's an insert from the press release on that:


The Executive Board also approved a waiver of applicability of the end-December 2010 performance criteria on the central government fiscal deficit and on the central government spending bill, for which data is not yet available. The Executive Board furthermore approved an extension of the SBA by five months to July 2012, and a rephasing of access under the SBA to match disbursements with Iraq’s balance of payments financing needs.

LINK: http://www.imf.org/external/np/sec/pr/2011/pr1190.htm

What are you guys' thoughts on this?

Thanks =)
DAWN

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Post by Guest Thu Jan 19, 2012 12:30 pm

They know we are watching. Now what do you think they want us to believe? The UST would rather you sell out, than you getting rich. Hang in there, it maybe done in 6 to 7 weeks. AJ

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Post by fridayh Thu Jan 19, 2012 12:54 pm

NO SOMEONE DECIDED THAT I DID NOT NEED MY DINAR AND TOOK IT.....THEY LEFT ME A LITTLE....SO I KNOW THAT IT WAS NOT SOMEONE THAT I DID NOT KNOW.....IT WAS PROBABLY STEP ADULT CHILDREN THAT FEEL INTITLED AND THAT THE WORLD OWES THEM A LIVING.....I ATE BEANS FOR MONTHS......SO I NO THAT I AM NEVER GOING TO GET THE DINAR BACK BUT WOULD LIKE TO KNOW THAT IF I BOUGHT IT FROM DB OR ONE OF OTHER CURRENCY EXCHANGES WOULD THEY HAVE THE SERIALS NUMBERS SO I COULD REPORT THIS....OR NOT??? THIS IS VERY HARD BEING A GOOD CHRISTIAN WOMEN, THIS WOULD HURT MORE PEOPLE THAN JUST THE THIEF......AND WOULD BRAKE THE HEAD OF MY HOUSE HOLDS HEART!!!!! THIS IS NOT A LIGHT FLIP IT ANSWER THAT I WANT ....... MONEY IS NOT EVERYTHING IN THIS HOUSE HOLD...GOD AND FAMILY COMES FIRST......

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Post by Guest Thu Jan 19, 2012 12:55 pm

AJAnderson wrote:They know we are watching. Now what do you think they want us to believe? The UST would rather you sell out, than you getting rich. Hang in there, it maybe done in 6 to 7 weeks. AJ

I hope so.

re: 6-7 weeks.

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Post by therealbutterfly Thu Jan 19, 2012 1:18 pm

@fridayh wrote:NO SOMEONE DECIDED THAT I DID NOT NEED MY DINAR AND TOOK IT.....THEY LEFT ME A LITTLE....SO I KNOW THAT IT WAS NOT SOMEONE THAT I DID NOT KNOW.....IT WAS PROBABLY STEP ADULT CHILDREN THAT FEEL INTITLED AND THAT THE WORLD OWES THEM A LIVING.....I ATE BEANS FOR MONTHS......SO I NO THAT I AM NEVER GOING TO GET THE DINAR BACK BUT WOULD LIKE TO KNOW THAT IF I BOUGHT IT FROM DB OR ONE OF OTHER CURRENCY EXCHANGES WOULD THEY HAVE THE SERIALS NUMBERS SO I COULD REPORT THIS....OR NOT??? THIS IS VERY HARD BEING A GOOD CHRISTIAN WOMEN, THIS WOULD HURT MORE PEOPLE THAN JUST THE THIEF......AND WOULD BRAKE THE HEAD OF MY HOUSE HOLDS HEART!!!!! THIS IS NOT A LIGHT FLIP IT ANSWER THAT I WANT ....... MONEY IS NOT EVERYTHING IN THIS HOUSE HOLD...GOD AND FAMILY COMES FIRST......


Even if Db or whoever had the serial numbers, I doubt you could figure out what notes are what cuz they are not easy to figure out with the arabic numbers. You can certainly call the cops and file a police report and you have a reciept to show what you purchased. Then you can file a claim with your insurance company for what was stolen. Maybe you will be covered for the loss minus your deductable. Dunno, I guess it depends on what your policy covers. Good luck with it all......
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Post by fridayh Thu Jan 19, 2012 1:43 pm

THANK YOU FOR ANSWERING ME....INSURANCE????? LOL....WHAT PART OF EATING BEANS FOR MONTHS....WOULD MAKE YOU THINK THAT A WOMEN WITH VERY LITTLE RESOUSES COULD AFFORD INSURANCE......I CAN BARLELY PAY FOR THE MEDICNE THAT I NEED.....BUT I DO THANK YOU FOR YOUR KINDNESS IN ANSWERING ME.....I REALIZE THAT THIS WAS A HARD QUESTION AND I HAVE BEEN PRAYING ABOUT IT.....AND SINCE IT IS BEYOND ME.....I REALLY DON'T THINK THAT I CAN DO ANYTHING ABOUT IT......BUT IT IS IN GOD'S HANDS AND I AM SURE THAT HE WILL TAKE CARE OF IT MUCH MORE HARDER THEN I WOULD!!! WHEN HE SPLAPS HE EALLY SLAPS.....LOL!!! THANKS FOR YOU GUYS ALWAYS DOING YOUR BEST FOR US AND DOING ALL THE THE HARD WORK, THE LATE NIGHTS AND FOR HELP ME WITH THIS LITTLE PROBLEM....THAT I KNOW YOU COULD CARELESS ABOUT.....BUT BECAUSE OF THE GREAT PERSON THAT YOU ARE .......TOOK TIME OUT TO HELP ME ...EVEN THOUGH I AM SURE THAT YOU COULD HAVE BEEN WORKING ON SOMETHING MORE IMPORTANT!!! BLESSINGS......ME

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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by justdawnagain Fri Jan 20, 2012 1:37 pm

EARTex QUOTE: "It was a member remark on Forex. I think the member misinterpreted the CBI change in numbers to be a float. Forex has a new member remark today. CBI has the same figures as yesterday. I don't believe they will change with the market as Forex's numbers do."


Here is what is up there today:

Jan 19, 2012
We will see alot of action form this sense it is not fixed anymore.

http://www.forexpros.com/currencies/usd-iqd

OK, since this is just a member remark, it might or might not be true I'm guessing.
BUT.... If it was fixed than it wouldn't change right? Sorry - confused.

Thanks =)
DAWN


Last edited by justdawnagain on Fri Jan 20, 2012 1:45 pm; edited 1 time in total (Reason for editing : added a quote from EARTex)

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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by DTConcerned Fri Jan 20, 2012 4:28 pm

IQD has been released from the programmed rate of 1170, this is a good thing, as long as it was locked in the program rate it fould not RV or adjust. It is not a Free Float though because that would require open market exchange and the value would move up and down according to the market. This is a dirty float controlled by the owner of the currency.

This is a step in the right direction, not something to worry about. While this could have been done at the same time as the RV, release from the programmed rate gives the opportunity to test the mobility of information through the system and 4PIPs is not enough to have any real impact on the economy.

We may see additional changes of this nature or not depending on what testing is needed. This is NOT the RV, but it is pointing in the right direction.

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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by justdawnagain Fri Jan 20, 2012 5:48 pm

Thank you DTConcerned. I think I'm starting to understand... maybe... sorta.... =}



Thanks Dawn =)

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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by SEBtopdog Fri Jan 20, 2012 5:57 pm

AJAnderson wrote:They know we are watching. Now what do you think they want us to believe? The UST would rather you sell out, than you getting rich. Hang in there, it maybe done in 6 to 7 weeks. AJ

CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 312044658

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CBI has changed setting from fixed to float. Emoticon-animal-028
 
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CBI has changed setting from fixed to float. Bump~0 Will someone please let the RV Widget out of the jar?
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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by abby ann Fri Jan 20, 2012 6:14 pm

@SEBtopdog wrote:
AJAnderson wrote:They know we are watching. Now what do you think they want us to believe? The UST would rather you sell out, than you getting rich. Hang in there, it maybe done in 6 to 7 weeks. AJ

CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 490529750 CBI has changed setting from fixed to float. 312044658
CBI has changed setting from fixed to float. 974290055 CBI has changed setting from fixed to float. 974290055 CBI has changed setting from fixed to float. 974290055 CBI has changed setting from fixed to float. 949729897 CBI has changed setting from fixed to float. 949729897 CBI has changed setting from fixed to float. 949729897
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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by Kevind53 Fri Jan 20, 2012 6:29 pm

From the info I could see at a couple of the Forex sites yesterday ... assuming of course I am interpreting it correctly the Dinar is indeed in a float status now.

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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by Guest Sat Jan 21, 2012 8:19 am

@Kevind53 wrote:From the info I could see at a couple of the Forex sites yesterday ... assuming of course I am interpreting it correctly the Dinar is indeed in a float status now.

Awesome.

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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by DinarPhoenix Sat Jan 21, 2012 10:52 am

Im not sure if it is now a float or just a program rate change. A boat doesn't float until you put it out on the water. Currency doesn't float until it is actively traded on the forex. When that happens it is not going to float from 1170 to 1166 it is going to run up to parity or beyond. You will see a rate (IQD to USD) of say 1.4 to .50 If at that point they dont control the float the big boys (forex traders) would hype it up and make it run all over the place. It would go from under valued to over valued, thats how they make money.
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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by Kevind53 Sat Jan 21, 2012 11:32 am

@DinarPhoenix wrote:Im not sure if it is now a float or just a program rate change. A boat doesn't float until you put it out on the water. Currency doesn't float until it is actively traded on the forex. When that happens it is not going to float from 1170 to 1166 it is going to run up to parity or beyond. You will see a rate (IQD to USD) of say 1.4 to .50 If at that point they dont control the float the big boys (forex traders) would hype it up and make it run all over the place. It would go from under valued to over valued, thats how they make money.

I don't know for sure either, I am not a Forex expert (yet), but on several of the sites I looked at the symbols seemed to indicate it's status was float, not fixed. That's what I am going by.

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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by fridayh Sat Jan 21, 2012 11:42 am

THANK YOU FOR ALL YOUR HELP!!! YOU CAN TAKE THIS DOWN NOW...ALL I WANTED TO KNOW WAS IF I HAD TO PAY TAXES ON SOME THING THAT WAS STOLEN FROM.....AND YOU SAID KNOW....THAT IS GOOD NEWS....BECAUSE THEY LEFT ME VERY LITTLE AND WOULD HATE TO OWE MONEY THAT I DID NOT HAVE......

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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by DinarPhoenix Sat Jan 21, 2012 12:35 pm

Might be what they call a managed float. CBI sets the rate and lets it fluctuate in that range. 1%, 2% etc. Either way it is still controlled and no real appreciation will be seen. Some see this a step in the right direction, I take it at face value. Untill it is ACTIVELY traded on forex it is nothing.
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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by justdawnagain Sat Jan 21, 2012 12:45 pm

Thanks DinarPhoenix for responding got a question though (of course - sorry).

Why would they do a managed float with such a small range? How does the benefit Iraq?

Thanks Dawn =)

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CBI has changed setting from fixed to float. Empty Re: CBI has changed setting from fixed to float.

Post by Catherine Sat Jan 21, 2012 12:57 pm

@fridayh wrote:THANK YOU FOR ALL YOUR HELP!!! YOU CAN TAKE THIS DOWN NOW...ALL I WANTED TO KNOW WAS IF I HAD TO PAY TAXES ON SOME THING THAT WAS STOLEN FROM.....AND YOU SAID KNOW....THAT IS GOOD NEWS....BECAUSE THEY LEFT ME VERY LITTLE AND WOULD HATE TO OWE MONEY THAT I DID NOT HAVE......

I would consider filing a police report if you have not done so already. Don't let them get away with it!!

*****************
COME ON...
RV ALREADY!

CBI has changed setting from fixed to float. Smiley-happy093CBI has changed setting from fixed to float. 7_11_117CBI has changed setting from fixed to float. Smiley-happy093
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