Chat Room – Excerpts & Highlights
1bobby says():Parliamentary Finance calls to control the rate of the dinar against the dollar
2016/9/15 16:20[Where – Exclusive]Parliamentary Finance Committee called on Thursday for control of the Iraqi dinar exchange rate against the dollar, by maintaining a reserve of hard currency.
The committee member said Sarhan Ahmed told all of Iraq [where] that “the central bank has no plans to raise the value of the dinar against the dollar,” pointing out that “the rise of the dinar rate depends on the central bank’s reserves of hard currency and the non-oil and oil revenues coming into the country.” .
He pointed out that “the legislative track and other issues have an impact on the exchange rate, which calls for preservation of the Iraqi dinar exchange rate and maintain a reserve of hard currency.”
Iraqi dinar exchange prices are volatile and clear in terms of the market is witnessing a gradual rise of the dollar against the dinar.
He criticized a number of financial and political economists pursued by the Central Bank of Iraq and falling cash reserves during the recent years.
Link http://www.dinarupdates.com/showthread.php?40974-Parliamentary-Finance-calls-to-control-the-rate-of-the-dinar-against-the-dollar
JustNTime says to 1bobby():sometimes that can be confusing when they say no plans to raise the value of the dinar, my opinion is because their not raising the value but restoring its value.
1bobby says to JustNTime():Just my personal opinion…….They still need non oil revenues before backing the IQD. IMF was “surprised” in a good way) at the reserves at 50b. let’s see what happens after EID. Parliament session on the 20th 🙂
WICKEDWITCH1 says():Is the CBI the “one” in charge of changing the exchange rate?
1bobby says to JustNTime():I’m thinking the IMF was surprised at that high level of reserves even though Iraq is going thry hard times right now
1bobby says to WICKEDWITCH1():CBI controls the IQD
JustNTime says to 1bobby():I agree, lots of non oil revenue starting up this year and the port of Faw next year is going to be a game changer.
diagyAAAE says():Parliamentary Finance reveal the central bank’s reserves fell to less than $ 50 billion
09.15.2016 14:58 Central Bank of IraqLong-Presse / BaghdadFinance Committee in the House of Representatives revealed on Thursday that the central bank reserves decreased to less than $ 50 billion, and while confirming that the central bank does not talk about reserves “for fear of creating new crises”, she pointed out that the government has turned to internal borrowing from a bank Rasheed and Mesopotamia “without the return of these amounts.”
He said the Parliamentary Finance Committee member Hossam punitive in an interview with (long-Presse), said that “the amount of the Iraqi Central Bank reserves reached to below $ 50 billion,” noting that “the central bank does not talk about the size of reserves for fear of creating a new crisis.”
He punitive, “The Iraqi government headed domestic borrowing by government banks and private bank Rafidain and Rasheed during the years 2015 and 2016, estimated at $ 15 billion without the return of these funds with the benefits of the two banks.”
The governor of the central bank on the Keywords confirmed, on Sunday (11 September 2016), Iraq’s commitment to the pledges made to the International Monetary Fund Ptoukatadtha specific, especially as it is consistent with the orientations and objectives, noting that the Fund was surprised to be Iraq’s reserves of foreign currency more than its forecast by about ten billion dollars.
The Governor of the Central Bank and the Agency on the Keywords confirmed, on Tuesday (21 June 2016), that Iraq’s reserves of foreign currency of $ 53 billion, and with the exception that it is in line with international standards and regulations of the International Monetary Fund, hold the House of Representatives and the government responsible for the low reserve because Msadegthma on the financial budget deficit.
The CBI has rejected (the 13th of January 2016), the government went to draw from the financial reserve, while attributed to the fact that the law “does not allow” the government of this, he called for the issuance of bonds and sell them to banks. almadapress.com END
1bobby says to diagyAAAE():Another head scratcher. IMF was surprised in a good way about the reserves. Now as I recall the reseves were at a hih of 80b earlier this year. Couple that with the ealier Dinar/Dollar rate, makes you wonder
1bobby says to MrsBGG():Looking foward to next week when it really starts popping 🙂
horsegal says():What’s popping next week?
1bobby says to horsegal():EID ends and Parliament is back in session on the 20th. Not to mention more COM meetings 🙂
horsegal says():I see. I thought EID had ended 🙁
1bobby says to horsegal():oops meant to say ended or will today or tomorrow.
horsegal says():oh ok
1bobby says to horsegal():Things get back to normal over there this weekend
horsegal says():yea
1bobby says to horsegal():normal being a relative term :0
jetset says():lots of positive news from the IMF today. great to read it all!
kalis says():i was reading about oil $120 in 2017 . That is very odd due most traders say oil will be $35 to $55 for the next few years ..
kalis says():Matter of fact we are getting less and less depended on oil each year ..
kalis says():where is everyone
woodywoodpecker says():at the bank exchanging
Dinarian1 says():we all are at the RV party in Vegas… where are you? LOL
kalis says():i am dig big pitsin my back yard to pour oil in there before it goes to $117 .lol
kalis says():did oilmanoaking pick you
kalis says(): well after reading everthing it look a an rv is coming very soon . well see you all tonight . tex me if need my c card to fuel in oiloakingmans g5 .lol
Elane says(): Can this article be mentioned on the call tonight please… causing a bit of distress on fb.. thanks
http://www.alliraqnews.com/modules/news/article.php?storyid=48301
Read More: http://www.dinarupdates.com/showthread.php?40957-Thursday-September-15-2016
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