View Full Version : Abtan (East): jump in the exchange rate of the dinar (restricted) Central Bank

02-05-2013, 09:06 PM
Abtan (East): jump in the exchange rate of the dinar (restricted) Central Bank

Mashreq - Mohammed Saleh:

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Posted 04/02/2013 06:53 PM

Baghdad: stressed Hussain Abtan, a member of the economic, investment and reconstruction parliamentary, there are undue restrictions in the Central Bank, prevent (jump) in the exchange rate of the Iraqi dinar against the dollar and other foreign currencies. This came in an interview conducted fast (bright) with him, and in the following details:
Q: Do you monitor your performance of the Commission of the Central Bank? .. Is it allowed you to see the details of this performance?.
C - the central bank and one of the four institutions of the Economic Commission, and downright allowed us to follow his work, and have followed earlier performance of this institution and we have had numerous meetings with Dr. Sinan Shabibi and the appearance of Dr. Saleh and some managers at the Central Bank of Iraq, and also agreed on steps that might be informal in Tazir ability of the Iraqi dinar cash, but regrettably shapes that happened recently between the central bank and the government and the consequent negative repercussions halted the work of the Committee and what has been agreed upon previously.
Q: The issue of low bank gold reserves? .. Denied by the bank, what say you?.
C - the central bank is supposed to be taken from him information. It is assumed that take statements Central Bank as evidence official, and will be ours also control this subject, but I believe that the bank can not declare something that is not accurate, and it should be everyone's careful statements from the central bank and its reserve of foreign currency or gold, because such statements exposure Iraqi dinar to relapse, and I imagine that behind this work mafias want to weaken the Iraqi dinar and strengthen the dollar and foreign currency against the Iraqi dinar, is supposed to be a high level of accuracy in the reporting of such information.
Q: What does it mean to diversify central bank foreign reserves? .. How citizen understands that it promotes the economic situation of the country?.
C - the central bank has many experts not different from the case of central banks in the countries of the world. Usually reserves of central banks in the countries of the world does not focus on a single currency, for example when visiting the European Union, for example any country in Europe not only find the euro or the dollar without gold all this reserve improves the economic conditions experienced by the country and its ability and exchanged trade with the countries of the world have cash reserve located in the central bank.
Q: Do you afraid the Iraqi currency from the effects of the political situation if they descended - God forbid - some negative developments?.
C - I personally am very optimistic ability Iraqi dinar, but confused about the central bank restricts the Iraqi dinar against the dollar, and is supposed to be seeing a jump in the price of the Iraqi dinar exchange against the dollar, and I mean improvement that reserves Iraq's foreign currency in 2006 when he set the exchange rate against Dollar (1117) was at the time was (25) billion dollars today and Daúana of foreign currency in the Central Bank of Iraq Atjaozat (70) billion dollars is assumed that the exchange rate is less than this, today the Iraqi dinar supposed to be (1000) and the Central Bank to take measures to be Sarabv of the Iraqi dinar against the dollar is (1000) dinars, and this is what enhances the ability of the Iraqi dinar against the dollar.
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02-06-2013, 02:43 AM
Fuzzy math, but if the Dinar is 1117 at 25 billion dollars and now they have 70 billion dollars, why would it only go to 1000? I can't wait to see it in the triple digits.

02-06-2013, 07:05 PM
Let's hear 100-1! lol, I'd be doing the happy happy dance if it ever gets to 100-1.