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BatmaninIraq
04-15-2015, 04:31 AM
Issuing securities worth 50 and 100 thousand dinars: the Central Bank tries to disrupt the dollar Ferrari

By: Gazwan on: Tuesday 04/14/2015 13:22

Iraq today / special

seems to be the US dollar, boarded Since the Ferrari car, made ​​by his government's measures and the central bank, making it at the forefront of the race with the Iraqi dinar, and the curse that has hit the dinar noted the US dollar rising, said professor of economics at the University of Mustansiriya, banking expert Maytham and coffee, "The

opening of new outlets to pump dollar, will contribute to reducing the price of the dollar, in front of the dinar, but it will put the central bank in front of a big challenge to the Iraqi constitution, "and graduated the next Laibi words in his speech for the" Iraq today "from geographically terms to the annotations simplistic, read where: "" The opening of new outlets would besiege the monopoly of the dollar selling from limited outlets, and lowers its price, but it will increase the amount of sales, a challenge faced by the central bank, and have it in front of two options, the first override the Constitution which set / 75 / million dollars a day or withdrawal of foreign reserves from the state treasury, and both will sign the Central Bank ", and before we get into the world of parliamentary views, remember, that the central bank had decided last Thursday, doubling the share of banking companies of the dollar, and to allow banks Rafidain and Rasheed and Iraqi trade, open windows to sell the dollar, companies and small importers as a measure to reduce the dollar exchange rate in the Iraqi market, and how to help the Iraqi dinar, which was riding a bicycle in his attempt to catch up with the owner of the Ferrari dollar, a member of the Economic Committee, MP for the Kurdistan Alliance, Najiba Najib announced a "new measures by Central Bank to issue pumping the category of / 50 / thousand dinars, and the category of / 100 / thousand dinars in the local market, as a measure to reduce the demand for foreign currency, and support the local currency ". It is the door of generalities to the box of privacy, we read in the coming her for" Iraq today "Next," "The coming days will witness a class trading the / 50 / thousand dinars in local markets, and after achieving success and attract the turnout will be issued a class of / 100 / thousand dinars, as a measure to support the Iraqi currency, and reduce the demand for foreign currency, and reduce banknotes trading in the market size, "and the opinion of Najib open central Nuama new to sell the dollar, we read:" The central bank action, opening new windows (http://www.printsasia.com/book/opening-the-windows-of-blessing-haggai-zechariah-malachi-the-new-inductive-study-series-0736901493) to sell the dollar, will achieve success in reducing its price against the Iraqi dinar, "predicted Najib then, that contributes to this measure the fuel suction from Ferrari Dollar: "I expect the decline in the dollar exchange rate against the dinar in the next few days, because of the infusion of hard currency significantly in the local market, after the rise in price to 135 thousand dinars, for each $ 100," said Najib: "The Bank Central, took the decision last Thursday, opening new windows (http://www.printsasia.com/book/opening-the-windows-of-blessing-haggai-zechariah-malachi-the-new-inductive-study-series-0736901493) to sell the dollar, as a measure of it to control the local currency deterioration ", and the measures taken by the Central to strengthen its position in these proceedings, disclosed Najib:" The appeal of the Central Bank in Article / 50 / in the budget that violated currency local, and led to degradation, after restricting the central bank $ 75 million, and stop the daily currency auction, will contribute to the strength of the dinar against the dollar, "and remind the reader, that the central bank had decided last Thursday, doubling the share of banking companies of the dollar, and to allow banks Rafidain and good governance and the Iraqi Trade open windows to sell the dollar companies and small importers as a measure to reduce the dollar exchange rate in the Iraqi market, and stop the decline in the local currency (the dinar) against the dollar in the local foreign exchange market by doubling the share exchange companies in auctions selling foreign exchange.

Will-it-happen?
04-15-2015, 11:17 AM
Does this mean the IQD is currently 1350 per USD ? not 1166 ?

Screaming Eagle
04-15-2015, 11:44 AM
Does this mean the IQD is currently 1350 per USD ? not 1166 ?It means that the money changers or banks buy dinar from the CBI at the official rate of 1166 plus 2 dinar commission at a cost total cost of 1168 and sell it on the Iraq exchange market at 1350 dinar to the dollar due to the increase strength in the dollar. That's a spread of 162 dinar. The market rate for the new IQD has been over 1200 since its inception.

HumbleGenius
04-15-2015, 01:13 PM
[QUOTE=Screaming Eagle;32300It means that the money changers or banks buy dinar from the CBI at the official rate of 1166 plus 2 dinar commission at a cost total cost of 1168 and sell it on the Iraq exchange market at 1350 dinar to the dollar due to the increase strength in the dollar. That's a spread of 162 dinar. The market rate for the new IQD has been over 1200 since its inception.[/QUOTE]

Which means over 10% profit if you are in the money laundering business. Not a bad racket to be in.