Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL

Enter your email address:

Two GREAT articles...COME RV/FLOAT! DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Two GREAT articles...COME RV/FLOAT!

Go down

Two GREAT articles...COME RV/FLOAT! Empty Two GREAT articles...COME RV/FLOAT!

Post by Guest on Sat Feb 16, 2013 10:35 am

Published on Saturday, 16 February / February 2013 13:54 | Written by: OK-

BAGHDAD / obelisk: Search Central Bank, Saturday, mechanisms to support investment in Iraqi dinars, pointing out that he was seeking to boost his tally including currency makes it controlled.

The central bank governor said Abdul Basit Turki agency, following a meeting directors-general of private banks and the Iraqi civil operating in the country, for "obelisk" that "it is necessary to develop plans modern and necessary for the advancement of the level of the Iraqi dinar and the involvement of private banks Iraqi foreign to this approach."

"The meeting included discussion of the mechanics of investing in support exchange value of the Iraqi dinar and stabilize the market and go to further contributions to these banks operating in the country in support of these necessary steps," stressing that "private banks Iraqi and foreign proved contribution actors in the development of the economy in the country" .

The governor of the Central Bank of Iraq in search of the 13 of February with a number of foreign banks ways to expand its work in Iraq.

The CBI attributed the earlier reason for not attracting well known international companies to invest in Iraq, the internal and external factors, is the external ones that Iraq is still under Chapter VII which he considers threatened state of peace, as well as the difficulties large facing investor such as the allocation of land plots of projects and a lot of other obstacles.



Finance Bader: Golden increase balance dinar to strengthen its position against global currencies

BAGHDAD / Mohammed Kazem


World Gold Council revealed in its report issued by the global demand for gold for that Iraq had bought 24.1 tonnes of gold during 2012. The report noted that the world's central banks raised their purchases of gold over the past year 2012 record levels and the highest level since 48-year-old in 1964. Noting that Iraq, which raise oil production over the past year benefited from oil مداخيله in increasing its gold reserves, where he bought a CBI 24.1 tonnes of gold during 2012. A member of the parliamentary Finance Committee Abdul Hussein al-Yasiri: reserve there in the Central Bank Law old number (64) of 1976 and indicates that the government when issued Iraqi dinar must be covered up 70%, while foreign currency or gold, this law and end it that measured in gold as the precious metals accepted in all countries of the world. The Yasiri told (Badr): the government's drive towards enhancing its gold reserves, strengthen the balance local currency in international banks, the fact that the currency exposed to low from time to time, in order to raise its value against foreign currencies, which collapsed to the lowest levels because of politics clumsy followed by the dictatorial regime in currency printing in large quantities, which caused significant inflation in the Iraqi dinar discredit the international transactions. Yasiri: The reasons that prompted the central bank to talk about the process of strengthening the balance golden dinars aims to raise its position against foreign currencies directly, now the money supply around (34) trillion Iraqi dinars sum, and number limits (3) trillion, according to census coins to the Central Bank and who wishes downward to about a third in the case of high purchasing power and rates of foreign currencies the dollar and the euro and the pound sterling. The annual report for 2012 that «the value of global purchases of gold reached record levels in terms of financial value, reaching 236.5 billion U.S. dollars last year, and the size of 4405.5 tonnes of gold. The report said that consumer purchases of gold declined in the past year, but purchases of central banks and funds offset this decline, where they purchased these banks 534.6 tons of gold in the year as a whole, while the purchases in the fourth quarter of last year alone to 75.6 tons ». Noted analysts gold markets that the main reasons behind the record rise in purchases of central banks back to disorder exchange rate major currencies that make up foreign reserves to the world and fears of a «currency war» this year amid policies key countries in the Group of Seven to reduce the price of currencies to increase the competitiveness of its exports in the international markets. Another reason is due to these purchases analysts standard quantitative stimulus policies implemented by several global central banks led by the U.S. Federal Reserve Bank and the Bank of Japan (BOJ) and the Bank of England. It is known that the quantitative stimulus policies that lead to the deterioration of the exchange rate because it increases the money supply in the market. In this sense, a lot of countries around the world proceeded over the past year gold to hedge against this risk. According to the report of the World Gold Council, the five Arab central banks topped the list of the 40 central banks largest in terms of gold reserves is Saudi Arabia, which reached its gold reserves at the end of last year, 322.9 tons and represents 3.0% of total reserves. Lebanon reserves of 286.8 tons and represents 16% of total reserves, Algeria reserves of 173.6 tons and represents 5% of the total reserves, Kuwait reserves golden of 79 tons and representing 13% of total reserves, and Egypt reserves of 75.6 tons and represents 25% of the total Reserve. The report noted that the People's Bank of China (China's central bank) was one of the most active central banks buying gold as well as the Russian Central Bank. And reached the Russian central bank purchases over the past year about 75 tons, to bring the possession of gold to 1,000 tonnes, which represents 10% of the total reserves.



Back to top Go down

Back to top

Permissions in this forum:
You cannot reply to topics in this forum