,
DINARESGURUS.BLOGSPOT.COM_________________ _______

Friday, October 5, 2012

Iraqi Dinar .. Expert: recent central policy will support the stability of the dinar exchange rate ,6 OCTOBER


Iraqi Dinar .. Expert: recent central policy will support the stability of the dinar exchange rate 


10/06/2012 

Expert: recent central policy will support the stability of the dinar exchange rate 

BAGHDAD - morning Attributed the economic expert Manaf Al Sayegh, the reasons for the recent actions of the Central Bank to raise quota price of Iraqi banks for the currency, to stabilize the exchange rate of the dinar against the dollar.  

Sayegh said: that the central bank develop new measures to increase quota prices for the currency in Iraqi banks and make the currency market as a result of free market stability and balance the exchange rate of the Iraqi dinar against the U.S. dollar in the local market, indicating that the quota imposed on currency prices in banks previously when the price of the dollar against dinar. 

Sayegh added that the central bank to impose restrictions on the sale of the currency in Iraqi banks when increased demand for the dollar and increased its value against the dinar, successful actions have achieved a balance in the currency.  

Stressing that the policy of the Central Bank reduced the difference between the price of the two currencies in the money market and the price of the currency at the Central Bank, adding that the exchange rate of the dinar against the dollar has become parallel and the percentage difference between the two estimates (2 percent). 

MICHIGANDER ANALYSIS , 5 OCTOBER

Michigander0131 post 10/5/12  4:33 p.m. edt
[michigander0131] Economist: you must apply three zeros deleted project citizen service and local currency Friday, 05 October 2012 The Economist stressed Abdulhasan alshammari, need to apply project delete three zeros currency because it hurt to serve the citizens and national currency by reducing cash large groups of blocks in the local market. He said Al-shammari (News News Agency): the implementation of the restructuring of the Iraqi currency after deleting three zeros were necessary because it will serve the citizen and national economy as large groups would turn into a small unit, which will facilitate market transactions and accounts for State services. He added: the project will provide additional financial resources for the country through printed coins (dinar and half quarter dinar, dinar) where the life span of these categories (25), while older paper no later than three months it's quick handling and damage.
[michigander0131] very good article and i will put in kaparonis response to it/because he does a way better job then me//    
[michigander0131] Sometimes the best articles are slipped in. Though this is not from the CBI, it is a very good article. As Bob already said, it clearly says that you have to apply this now because if you don't it will hurt the citizen and the currency because you removed the 3 zero notes (reduced the cash large groups). This also confirms we are right they are removing them. Even though LOPers keep telling everyone they are not.    There is no reason to remove these notes if they were LOPing the value in advance of the re-denomination. This is confirmation again, that the CBI removed the larger 3 zero notes. And as we read already this spring, the CBI took trillions of them out of circulation through the auctions. Some 12-16 trillion alone in April-July. This economist is right on..he is saying you cannot take our currency away, and do nothing and not hurt the people and the currency. It makes sense to me he is right. Now,. you add the article from the other day about the condition of the currency, and the problem IMO becomes even more serious. They simply cannot do nothing. The country is very dollarized right now and that needs to change. I cannot see the CBI continuing this for weeks, let alone months under the current circumstances. 
[michigander0131] in short they must start to move on their currency reform
[michigander0131] Date: 10/05/2012 08:43:34 Friday Baghdad (news) .. Attributed the economic expert Manaf Al Sayegh, the reasons for the recent actions of the Central Bank to raise (Kuta) Prices of Iraqi banks for the currency, to stabilize the exchange rate of the dinar against the dollar. Sayegh said: demand for the currency attack earlier prompting the central bank to restrict the display of foreign currency ceilings pricing and selling virtual currency in the banks to achieve a balance between the dinar and the dollar. He continued: to reduce the difference between the market price and the price of the bank to make a strong Iraqi dinar against the dollar, stressing that the coming period will see a level playing field between the dinar and the dollar. 
http://translate.google.com/translate?langpair=auto|en&u=http%3A%2F%2Fwww.ikhnews.com%2Fnews.php%3Faction%3Dlist%26cat_id%3D16
[michigander0131] best part of this article is ........stressing that the coming period will see a level playing field between the dinar and the dollar.
[michigander0131] well ok when you all wake up there is some good reading///
[michigander0131] im still looking at sometime this year//we can only hope and pray

DINAR GURUS UPDATE, 5 OCTOBER


10-5-2012  Newshound Guru Administrator Bob   I would describe the dinar news this weeks as 'fast and furious.'   Maybe a better comparison is the book; 'Tortoise and the Hair.'  Politically they stall out achieving little progress, while economically Iraq continues to stride for investment at record pace. 

10-5-2012  Newshound Guru Adam Montana  The situation with Iran at this time is fair, I am not worried about them. I'm very optimistic right now given the current state of the Middle East and the positive news on the HCL.

10-5-2012  Intel/Newshound Guru Poppy3   national conference should usher in a nice rv within a nickle of kuwait real fast...kuwaits rate...$3.58

10-5-2012  Intel Guru Hammerman    all  news is positive...we hearing stuff  from iraq,  smart cards  for iraq citizen  having 1.26 on them, cant prove yet but hearing some type of revalue went down last saturday...again  hearing from top spots but still no proof...was also told if real could take  from 3 to 40 days to release  world wide, im still not  sold  but i can hope...i really cant see the rate that low.

10-5-2012  Intel/Newshound Guru Poppy3   Where do you guys go to get all this bull crap knee deep about RV's in country...when it hits it will be global

10-5-2012  Newshound Guru Med    [What effect do you think Iran has on the RV?]  None!

10-5-2012  Intel Guru Blaino   We...discussed in the past how it would be released and not cause major problem going from being worthless to becoming more valuable than the US Dollar, well I think we're seeing how they are making the transition within Iraq. There is still a lock down on the boarders of Iraq from taking Dinar out of the country.  I still believe that if this is a pushed to finish up on the final issues that the Iraqi government faces, by the US government before the elections, we should see the National Conference take place as a final step to announcing the completion of Article 140, the HCL Laws, and most importantly the implementation of the Erbil Agreement ready to go through at or about the same time as the release from CH 7 being announced....it's just a matter of timing.  [post 2 of 2]

10-5-2012  Intel Guru Blaino   We now are getting releases from the CBI stating that the dinar stands at 1.18 USD per Dinar. I still believe that the rate of $1.30 that came out a few weeks ago was a solid and accurate report that was not supposed to go public just yet, because we only heard a few days ago that it was at 1:1 against the dollar, now you hear about 1.18 rate as of this morning...  I still think that they are understating the true value of the Dinar at this point. Keeping a lid on the actual rate that it holds to the public. There is no reason for them to make any of these rate statements except for public relations boasting at this point since as we all know it is still able to be purchased at 1166 per dollar.  So what does this mean....well it means that...what they are doing is creating the perception of a value for "In Country" at this time as to not cause a shock  throughout the economy of Iraq once this is released at it's "True Value".  [post 1 of 2....stay tuned]

10-5-2012  Newshound Guru Adam Montana  [I just wanted to know if you have heard anything about the smart cards and if it really is an indicator for the RV.]  That's something that's been twisted and misunderstood for a long time. The smart cards aren't an indicator of the RV. 

10-5-2012  Intel Guru Footforward  The RV is going to happen, I am absolutely sure.  I am still looking for double digits and still looking for something to pop relatively quickly, within the next few days.  There is a drastic misinformation  campaign to try to get people to give up their dinar.  It's going to be like this until the RV happens.  If we don't have an RV in the next few days, expect the dinar to tank, decrease. Do not panic.  It is going to do this to get people give up. Do not give up your dinar. It is a manipulative move.   When the RV happens, you will not find it out in an article.  The first place you will hear about it will be at the banks. There will not be a free float. The value will be controlled. 

10-5-2012 Newshound Guru Doc   What is interesting is the statements by Allawi lined up nicely with recent news.  First we have Maliki making payments to the Kurds and have seen more articles concerning the HCl status then we have seen in a month.  We are beginning to believe that Maliki may know the questioning process is imminent and is at least for now playing along.  We hope this is correct and have modified our opinion that once we see resolution concerning Ebril/HCl we are pretty well there.  Based on Allawi's statements this appears to be the holy grail so to speak
.
 

MILLIONDAY CHAT, 5 OCTOBER


Oct 5 12:12 PM [Godsalli/Jim] Expert: lifting the dollar in banks Kuta means the success of the policy of the Central Bank and exchange rate stability 10/05/2012 Expert: lifting the dollar in banks Kuta means the success of the policy of the Central Bank and exchange rate stability 2012-10-05 08: 43: 34 Friday Baghdad (newsletter) : The Economist attributed Manaf Al Sayegh, the causes of the recent Central Bank action to lift (Kota) price from Iraqi banks, currency exchange rate of the dinar against the dollar. He said Sayegh (News News Agency): the new procedures the Central Bank lifted rates on currency in Kuta Iraqi banks and to make free market currency market due to the stability and balance of the dinar against the u.s. dollar in the local market, indicating that the Kota price imposed on currency in banks previously when the dollar rose to dinar.

Oct 5 12:12 PM [Godsalli/Jim] He added: the Central Bank imposed restrictions on the sale of Iraqi bank currency when demand for the dollar and its value rose to dinar, that made her successful actions achieved balance in currency. Sayegh said: the policy of the Central Bank reduced the difference between the price of currencies in the cash market and the exchange rate of the Central Bank, adding that the dinar exchange rate against the dollar has become a parallel difference estimated (2%). He continued to reduce the difference between the market price and the price the Bank make strong Iraqi dinar against the dollar, saying that the coming period will witness even between dinar and the dollar. 
Oct 5 12:12 PM [Godsalli/Jim] Sayegh said: to attack the demand for currency already pay the Central Bank to restrict the display of foreign currency ceilings default pricing currency selling in banks to balance the dinar and the dollar.

Godsalli/Jim] Dow Jones Newswires The federal government in Baghdad and the semi-autonomous region of Kurdistan in northern Iraq could soon reach an agreement on a new draft hydrocarbon law that would help resolve an impasse over who should control oil resources, Iraq's oil minister said Thursday. Disputes between the federal government in Baghdad and the Kurdistan Regional Government in Erbil have prevented agreement on a draft federal oil and gas law for more than five years. Read more: http://www.foxbusiness.c ··· 8RhddLKd

[Fresh] Follow-up - and babysit - economic expert attributed Manaf Al Sayegh, the reasons for the recent actions of the Central Bank to raise (Kuta) Prices of Iraqi banks for the currency, to stabilize the exchange rate of the dinar against the dollar. Said Sayegh: The Central Bank to establish new procedures raise quota prices for the currency in Iraqi banks and make market currency market free as a result of the stability and balance of the dinar against the U.S. dollar in the local market, noting that the quota prices imposed on the currency in banks previously when dollar exchange rate rose against the dinar.

[Fresh] He added: that the central bank to impose restrictions on the sale of the currency in Iraqi banks when increased demand for the dollar and increased its value against the dinar, ماجعلها procedures achieved a successful balance in the currency. Sayegh stressed: that the policy of the central bank reduced the difference between the price of the two currencies in the money market and the price of the currency at the Central Bank, adding that the exchange rate of the dinar against the dollar has become parallel and the percentage difference between the two estimates (2%).

[millionday] holding it close in what the market adjusts it is what they are talking about

millionday] Zain Iraq announced its intention to enter the Iraqi Stock Exchange by early 2013. According to Reuters, has told Hisham's largest executive vice president and chief operating officer of Zain Iraq journalists on the sidelines of a conference in Dubai that the company's Zain needs to turn into a joint stock company in preparation for launch. The largest "We hope (in an initial public offering) during the fourth quarter of this year, but the transition to the company (contribution) delay."

[millionday] Must Zain Iraq and rivals Asiacell of the Qatar Telecom (Qtel) and Korek subsidiary of France Telecom to sell a quarter of its shares to investors through an initial public offering, according to a regulatory requirement within its license to provide mobile phone services in Iraq. But the three companies did not comply with a deadline in August 2011 for subtraction and the imposition of fines Iraq because of it.

[millionday] Iraq was not a market for mobile phone services in the Saddam era and flourished sector since his overthrow in 2003. The sector has become the fastest growing sectors of the Iraqi economy after oil. And the requirement of the shares of mobile phone companies in the Iraqi Stock Exchange is part of efforts to diversify the economy and reduce dependence on state-owned enterprises.
[millionday] But preparation for the inserts saw chaos and it was not clear that the shares to be sold are available for foreign investors and Dual-listed if available to companies. The Iraqi Stock Exchange a total capital of $ 3.4 billion and is witnessing shares worth three million dollars a day is a relatively small market compared to the size of the phone companies. In 2011 Nomura estimated the value of Zain Iraq at $ 4.9 billion and Asiacell at $ 4.4 billion.

[millionday] Iraq and impose a fine on the Zain $ 12 thousand and 864 dollars for each day since the first of September 2011 for failing to comply deadline for an initial public offering. And more are expected to be considered in an appeal by the company on the fine end of the year. "The total (fine) in the worst case scenario if we have included shares in the first quarter (of 2013) will be four million dollars."

[millionday] Asked whether Zain Iraq shares will be included in the market and the only one in Iraq, he said "Yes, often," he said, adding that Zain is also considering listing in Jordan and London. "It was more possibilities (for the implementation of the inclusion of dual or secondary) nine months ago." He added that the acquisition of Zain Kuwait in the Iraqi company will fall to 51 percent from 76 percent in the case of the initial public offering was fully
[millionday] It is expected to be Asiacell the first three companies publicly traded in the market. In August, the company received regulatory approval in Iraq and Iraqi advertisements in newspapers published on incorporation.
[millionday] it is nice to see iraq referred to as the same or even first from being listed in london and jordan
[millionday] nice to see the timeline was august too
[millionday] brb with more

[millionday] Showed Prime Minister Nuri al-Maliki, Friday, ready to attend any meeting of a national aims to resolve political differences, on condition at the same time adopt the reform paper prepared by the National Alliance, he stressed that it included all the papers presented so far.
[millionday] nice -- he is also asking for power sharing then
[millionday] not bad news at all

[millionday] President Jalal Talabani reviewed with a Iraqiya slate's delegation, headed by Iyad Allawi, current challenges and obstacles the country's political process is faced with. A statement issued on Thursday, Oct. 4, by the President's Office said that in the meeting, Talabani asserted the importance for adopting the principles of fraternal and constructive dialogue to work out the political crisis, and begin with practical steps in drawing headlines toward acceptable solutions to disputed issues between members of the political process.
[millionday] Talabani stressed the importance of respecting the judiciary and its mandate, safeguarding human rights and the rights of detainees, adding, "This can only be done through resorting to the Constitution." For his part, Allawi stressed that Talabani's presence in the political arena is essential, because he is Iraq's safety valve.
[millionday] it seems that all meetings are done then - this is the last party
[millionday] brb with more

[millionday] BAGHDAD (Iba) ... MP for the coalition of state law Hadi al-Yasiri political blocs to vote on the law infrastructure of the utmost importance. He said in a press statement received by the independent press (Iba) a copy of it if they do not vote opposing political blocs on the law infrastructure National Alliance would be forced to take the necessary action to suit the Iraqi citizen to know who stands against him and Mstfbl his sons. The Yasiri importance carried by this law requires the political blocs to forget their differences and vote on this law. The House of Representatives was unable to vote on the law infrastructure controversial lack of quorum for the meeting for a vote on the first of the current month

[ROBINREDHED] millionday did u see where maliki is working w putin to purchase 5 billion worth of military eq
[millionday] BAGHDAD (Iba) ... MP for the coalition of state law Hadi al-Yasiri political blocs to vote on the law infrastructure of the utmost importance. He said in a press statement received by the independent press (Iba) a copy of it if they do not vote opposing political blocs on the law infrastructure National Alliance would be forced to take the necessary action to suit the Iraqi citizen to know who stands against him and Mstfbl his sons. The Yasiri importance carried by this law requires the political blocs to forget their differences and vote on this law. The House of Representatives was unable to vote on the law infrastructure controversial lack of quorum for the meeting for a vote on the first of the current month
[millionday] ROBINREDHED in moscow?
[millionday] i havent seen it --
[ROBINREDHED] millionday millionday yup
[ROBINREDHED] i posted in forums
[ROBINREDHED] obama should have taken his meeting
[millionday] if thats the case -- yes he should have -- the military is being built though and i think that iraq is refusing to let outside in
[ROBINREDHED] millionday purchasing migs, helicopters, weapons
[DINARHOPES] .
[millionday] they should have all ministers in place for this i would think too -- minister of defense not in place and making all of these purchases for the army ---
[j10000] rainwater where did you see it written that the NC is Oct 15? Thanks
[ROBINREDHED] these are with him .... V
[ROBINREDHED] For his part, Secretary General of the Council of Ministers on the Keywords that "ministers who will accompany Prime Minister were: Secretary of Defense Agency Saadoun al-Dulaimi and Finance Minister Rafie al-Issawi, Oil Minister Abdul Karim defect and Electricity Minister Abdul Karim Aftan addition to Industry Minister Ahmed Daly Karbouli along with a number of officials and members of the House of Representatives. "
[ROBINREDHED] Experts believe that Maliki's visit to Russia will not neglect File Syrian crisis and the Iraqi project to solve them will be present and strongly, even though the Keywords pointed out that "the visit will discuss a number of economic and military files and energy issues, particularly in the military that Iraq seeks to be activated and the diversity of sources of armaments." It is expected to put the visit foundations for a deal military supplies which Russia Iraq weapons and equipment worth five billion dollars.
[rainwater] j10000 http://peopleinvested.co ··· nference
[ROBINREDHED] http://peopleinvested.co ··· om-Obama
[j10000] rainwater txs
[rainwater] j10000 yw
[millionday] wow -- it is about time that they built their military and quit costing others -- they need to stand on their own in my opinion
[millionday] here is that article
[millionday] revealed a member of the coalition, "the rule of law," MP Izzat Shabandar achieve preliminary agreement between political leaders on the fifteenth of the month deadline for the National Conference, after President Talabani completed his contacts with all the parties. While conflicting views on the possibility of the success of the conference in the settlement of the dispute between the parties participating in the government, board Vice State of Law coalition led by Prime Minister Nuri al-Maliki to dissolve parliament and hold early legislative elections
[ROBINREDHED] millionday the article also mentions paris club debt
[DT N AZ] millionday does M working with Russia also imply that more sanctions have been lifted allowing Iraq to build a military?

[millionday] great -- the resolve of debt is part the order to resolve international debt
[DT N AZ] RVGolfer13 in roundtable talks right now
[j10000] millionday txs
[millionday] hello welcome to roundtable -- we are doing news now
[DT N AZ] RVGolfer13 also this will be posted in new posts when it is complete
[millionday] DT N AZ i am not sure if that is covered in sanctions -- i believe they are allowed to build their military with or without

[millionday] As confirmed that MP Sadiq gum: "There are no indicators to solve the crisis because all the parties participating in the government sticking to their positions, with disruption meant the role of Parliament Legislative, we see that the dissolved and the formation of a majority government political and holding early elections is the only way to overcome the political crisis that erupted due to the adoption what is known as the government harmonic
[rainwater] yeah i wanted to know what you thought about that article
[millionday] In regard itself expressed deputy state law Keywords believed the possibility of forming a majority government political because it is calculated and described: "became a popular demand, and state law has base parliamentary qualify to ensure the success of this approach," blaming the parties participating in the government responsible for decline in performance executive: "because it places obstacles in front of the government's performance even though it represented number arrogance of ministries." During claim Sadrists and the Iraqi List and the Kurdistan Alliance to withdraw confidence from the government board of state law to dissolve parliament, supported his position of some parliamentary blocs.
[millionday] it looks like they are not for a majority gov
[millionday] i see that maliki is also calling for it in his last speech
[rainwater] right
[millionday] Prime Minister Nuri al-Maliki said political partnership exhausted its energies and its purposes and objectives. Was necessary in the earlier stages, but now everyone started to feel even the Iraqi people feel that the national partnership system cabling system and restrict system and disrupt the system for the start of Iraq in the areas of infrastructure, reconstruction and economic development and service.

[millionday] aliki said in an interview channel Russia Today has published the text on its website: Hooray exist now in a lot of people inside the parliament and outside parliament, to work on government political majority, and now collect a number of the Council in order to make decisions and pay laws and the state. Now suspended state, you can not do something. . He said that the partnership was transformed from a partnership to assemble energies starting strongly, to the practice of obstruction. Unfortunately Foreclosure Bmntalqat and political interests and the most serious is the electoral interests.
[millionday] So the next stage should be, and whatever means must be disposed of government of national partnership and the trend towards majority government which is consistent with the spirit of democracy and with the spirit of the majority and get rid of the mentality of the minority is to be controlled by majority to ensure protect itself at the expense of the majority of the Iraqi people be Control minority people. An understanding of democracy is not inverted as a trader in the world. So I emphasize and work on the need that the next government will be a political majority government.

[millionday] On the other hand Maliki said that outside intervention continuously and heavily and want operations from which to boot for the post-Syria. Stressing the same countries intervening there intervene here. The money supports the fighters. Returned again hopeful that change Syria and then they change Iraq and change the region. The second aspect is added to an existing rule, and the rule now rebounded with regret in the light of the Arab Spring, and I got on the streets of Cairo and in the streets of Tunisia and in the streets of Yemen.
2:24 PM [millionday] And frankly Rayatem and Tktalathm and their terrorist acts. This recovery to Eisselm him Iraq. And will not be received from him these same countries that support and supports. He said these are all for us does not mean much in the task of addressing terrorism operations, but is a government of national partnership, is the politicians who are at the heart of the political process who do not believe, and those who want an abortion. This is a problem, when your partner is supportive of security operations and terrorist, the process becomes difficult.
2:25 PM [millionday] I do not want to elaborate on this issue, but I say that this is one of the evils of national partnership, when the government turns money and force the government and government-owned cars and the identities of the government to supportive for those who want to carry out terrorist operations. How can a man security control. Leshan his upcoming visit to Moscow Maliki said that relations between Russia and Iraq since the days of the Soviet Union, long and old relationships and wide in various military and economic fields and in the fields of oil and electricity.
2:25 PM [millionday] wow -- he is certainly against a power sharing gov  

The Iraqi dinar has been disappointing. And speculators are betting on the future; Many of them have lost confidence in profiting from it, 5 OCTOBER



Many Iraqis have confidence in Iraqi dinars, but large profits for some foreign speculators. This disparity highlights the uncertainty surrounding investment in Iraq while recovering from years of war and economic sanctions. According to the «Reuters», the rise of the dinar speculators depends on simple logic, Iraqi oil exports have risen to 2.6 million barrels per day in September, the highest in three decades. Iraq seeks to export six million barrels a day by 2017, which would make him approaching the current Saudi level.

Even if political instability, armed violence and bureaucracy without realizing this goal, Iraq still seems on the threshold of the oil boom will lead to a shift in financial conditions. May grant new Iraq oil revenues flow a large surplus in external transactions and enhance the general financial situation at the end of the current decade. This is the classic recipe for a strong currency.

Hassanein said the Aga, President of the company «KD» want us to risk high Exchange "when our investors buy Iraqi dinar they know it is a long-term investment. You know that the reconstruction of States takes time». Because banks outside Iraq not traded freely, physical dinar cash online such as «want» dinar are the only way in which foreigners can invest in currency. The company says a Las Vegas-based it sells hundreds of thousands of dollars worth of Iraqi dinar dinar shipped daily to thousands of customers in the United States and elsewhere.

Agha said that thanks to optimism about Iraq's oil wealth, the company saw strong demand for the dinar since its founding in 2004, a year after the US invasion followed by years of political violence and economic turmoil. However, Iraqis in Baghdad are not convinced. Many exploits any opportunity to convert their dinars into hard currency, using the US dollar in each daily dealings other than small ones. Eman said Saad Eddin, a housewife and mother of two «don't trust our Iraqi dinar ... We fear that we save. Trust more in dollar terms. Dollar fluctuates, not fixed price». The Iraqi dinar has witnessed sharp fluctuations during the past three decades. In the 1980s dinar was worth three dollars, but economic sanctions imposed on Iraq almost simultaneously with the 1991 Gulf war pushed the currency down, stoked inflation which nourished the Government print money. In late 1995 the dollar nearly 3,000 dinars.

After the invasion of 2003 Central intervention in the exchange market to support the dinar from the dollar income used to control the exchange rate. But over recent years despite the growth of Iraq's oil production, has not risen as dinar speculators had hoped. Central Bank sells dollars in daily fixed price auctions 1166 DT, a level it has not undergone any significant change since 2009.

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.iraqdirectory.com%2FDisplayNewsAr.aspx%3Fid%3D21188

SHREDD ANALYSIS, 5 OCTOBER


Central: committed banks to monitor transfers .. Thdhiraat: insatiable neighboring Iraqi currency threatens to collapse Iraqi newspaper future - 10/04/2012 - 12:30 pm Revealed the CBI for strict controls placed on the transfer of funds to the outside to reduce the process of money laundering, adding, that the controls will depend principle of "know your customer" as new, and see the market situation of the high demand for the dollar, as a result of an insatiable demand for these hard currency, while referred that affected demand for the dollar by several factors, including external relation to situations of regional states, namely Iran, Syria, and other internal related policy the central bank. pointed Deputy Governor Dr appearance of Mohammed Saleh, said Iraq has witnessed a great freedom in the transfer of funds abroad, led to the emergence of mafias working for the neighboring countries for hard currency, following the payment of the central bank to issue strict controls challenge of this process is going according to the principle of "know your customer" which obliges private banks and government knowledge of the customer. added that all banks will audit the treatment of the customer to check on the transfer of funds abroad. 

http://www.alrafedain.net/index.php?show=news&action=article&id=84264 

[Shredd] transfer of funds to the outside 
[Shredd] that's key phrase
[Shredd] we've talked about the KYC policies
[Shredd] this is a part of WTO requirements
[Shredd] Iraq has witnessed a great freedom in the transfer of funds abroad,
[Shredd] central bank to issue strict controls challenge of this process is going according to the principle of "know your customer" which obliges private banks and government knowledge of the customer. 
[Shredd] not having this in place before has been a lock on the door for forward progress in the banking sector
[Shredd] so to see this is very good
[Shredd] we've seen articles recently to this affect but for the cbi to discuss this, it's super to see it!
[Shredd] we'll see the rest of the banking world open it's doors for funds transfer to and from Iraq
[Shredd] a bank will not allow transactions where KYC is not in place
[Shredd] period
[Shredd] so, to get this buttoned up is going to be huge
[Shredd] ....a part of all of what the CBI has been working on
[Shredd] setting the stage
[Shredd] for the banks in Iraq to be fully in compliance with these standards is necessary 
[Shredd] good stuff!
[Shredd] central bank to issue strict controls challenge of this process is going according to the principle of "know your customer" which obliges private banks and government knowledge of the customer. 
[Shredd] this all ties in on the infrastructure and investment growth 
[Shredd] that Iraq has been advertising
[Shredd] gotta be able to facilitate it from a banking perspective
[Shredd] and give all parties involved the peace of mind
[Shredd] knowing they have strict KYC policies in place
[Shredd] both inbound and outbound

Central Bank: 5 thousand dollars just for travelers outside Iraq The time on Friday, 05 October 1 / Okrudolf 2012 07:43 | | Baghdad / Orr News Iraqi central bank decided not to allow citizens to travel outside Iraq to bring the cash more than 5 thousand dollars. The central bank adviser said the appearance of Mohammed Saleh, said that the bank and within the work of the new procedures for the organization treated the commercial market and monetary Baghdad and the provinces issued a circular to all government and private banks to grant Iraqi citizens cash when you change the local currency into foreign currencies other for the purposes of travel and tourism and pilgrimage and treatment outside the country by giving them $ 5 Thousands of dollars only when you change currency and without collateral taken from citizens who wish to change their local currencies. Saleh added that the central bank also decided to double the quota weekly to these banks to about $ 4 million for the purposes of covering spaces change the currency for travelers and without collateral and complications when changing currency in order to expand the deal market and give the flexibility and wide freedom of dealing with citizens and facilitate their affairs, as well as doubling the amount of dollar cash for the purposes of travel and tourism and pilgrimage and treatment, as any citizen can now get the 5 thousand dollars when discharges from the local currency into foreign as Iraqi nationality and has the paperwork, and in the context of efforts to reduce the rate of speculation and facilitate procedures for citizens 

http://www.uragency.net/2012-03-11-16-31-52/2012-03-11-16-33-57/10729-2012-09-14-08-5-56-52.html

[BondLady] ..shredd…
[Shredd] ...not doing business with shady iranian or syrian banks
[Shredd] putting controls for supply
[Shredd] when i saw this one
[Shredd] yes?
[Shredd] i was excited 
[Shredd] cbi issued a circular
[Shredd] a circular to all government and private banks
[Shredd] o grant Iraqi citizens cash when you change the local currency into foreign currencies other for the purposes of travel and tourism and pilgrimage and treatment outside the country by giving them $ 5 Thousands of dollars only when you change currency and without collateral taken from citizens who wish to change their local currencies.
and another....

[BondLady] thot this went along with 

Economist: you must apply three zeros deleted project citizen service and local currency Date: 2012-10-05 15: 42: 39 Friday Baghdad (newsletter) ... The Economist stressed Abdulhasan alshammari, need to apply project delete three zeros currency because it hurt to serve the citizens and national currency by reducing cash large groups of blocks in the local market. He said Al-shammari (News News Agency): the implementation of the restructuring of the Iraqi currency after deleting three zeros were necessary because it will serve the citizen and national economy as large groups would turn into a small unit, which will facilitate market transactions and accounts for State services. He added: the project will provide additional financial resources for the country through printed coins (dinar and half quarter dinar, dinar) where the life span of these categories (25), while older paper no later than three months it's quick handling and damage. He noted: the State printed annually from the limits of banknotes (250-750) million dollars per year, when implementing the project will slash the Federal Government from printing new currencies annually, provided funds can be utilized in projects of the country. The Central Bank is preparing to implement a project to delete the three zeros national currency after completing all procedures relating to the project, but so far no date has been set because application calls by some officials to postpone it. The Council demanded that the Prime Minister of the Central Bank to wait to delete the three zeros from the local currency, saying that a large project and needs sufficient time to apply 
http://www.microsofttranslator.com/bv.aspx?from=ar&to=en&a=http%3A%2F%2Fwww.ikhnews.com%2Fnews.php%3Faction%3Dview%26id%3D58779

[Shredd] keeping the local currency
[Shredd] local currency
[Shredd] into foreign currency
[Shredd] when you take a vacation
[Shredd] sound familiar
[Shredd] ??
[Shredd] again, from a banking perspective
[Shredd] controls on supply for when?
[Shredd] now?
[Shredd] for when the local currency
[Shredd] local currency 
[Shredd] is exchanged for vacations,etc... great article too
[Shredd] now, this next one....

[Shredd] need to apply project delete three zeros currency because it hurt to serve the citizens and national currency by reducing cash large groups of blocks in the local market.

[Shredd] again, this is all about the supply comparison of the "large groups" of cash
[Shredd] remove the zeros
[Shredd] make the carry easier
[Shredd] supply, right??!!
[Shredd] if they kept the rate too low
[Shredd] and remove the zeros
[Shredd] can you imagine the short life span of the new dinar?
[Shredd] the implementation of the restructuring of the Iraqi currency after deleting three zeros were necessary because it will serve the citizen and national economy as large groups would turn into a small unit, which will facilitate market transactions and accounts for State services.
[Shredd] He added: the project will provide additional financial resources for the country through printed coins (dinar and half quarter dinar, dinar) where the life span of these categories (25), while older paper no later than three months it's quick handling and damage.
[Shredd] The Central Bank is preparing to implement a project to delete the three zeros national currency after completing all procedures relating to the project
[Shredd] worthless paper
[Shredd] damaged
[grashopa] prepairing to move to phase III
[Shredd] right
[Shredd] we have the lower denoms
[Shredd] and we know the process to delete the zeros is getting the attention it derserves
[Shredd] it's gonna take some time
[Shredd] but that's all good for us
[Shredd] incentive will come first
[Shredd] count on it
[Shredd] my opinion has been for quite some time that we will in fact see the LDs and coins released
[Shredd] for the purpose to "bridge" Iraq to the NID
[Shredd] I mean, for me....I keep making myself kind of step back and look at the big picture
[Shredd] like BondLady has taught us to do
[Shredd] what is the over-arching story we are seeing
[grashopa] the forrest and trees senerio
[Shredd] as it pertains to banking and currency
[Shredd] right gras
[Shredd] we see this:
[Shredd] reform and regulation, compiance in the banking sectore
[Shredd] sector
[Shredd] has been going of for quite some time
[Shredd] necessary
[Shredd] why? cuz it's the conduit for monetary policy from the CBI
[Shredd] and what about on the currency side?
[Shredd] big picture...
[Shredd] 000 will be removed, the CBI is talking about it daily
[Shredd] they are having to adjust for timing
[Shredd] to get-r-dun
[Shredd] we have the lower denoms and two fils
[Shredd] the current dinar is in crap condition
[Shredd] and the dollar is king
[Shredd] Shabbs wants the dollar out
[Shredd] has the lower denoms at the ready
[Shredd] and is finalizing the plan to remove the 000 and introduce the new dinar
[Shredd] and dont' forget
[Shredd] we've seen infrastructure and investment in the news daily
[Shredd] dang we are close 
[Shredd] which is a relative term right? but it's exciting to see what the focusses are
[Shredd] the progress being made
[grashopa] first you crawl.....then you walk.....then you RUNNNNNNN....
[Shredd] that's a good way to say it gras
[Shredd] Iraq is not slowing down are they
[Shredd] they are taking these necessary steps, like KYC to be abe to
[Shredd] facilitate
[Shredd] the new Iraq
[Shredd] from my experience, to see what Iraq has done just on the banking side 
[Shredd] is exciting
[Shredd] seriously, you don't even get a glance from the global banking sector
[Shredd] if you are not fully compliant
[Shredd] and they are getting there
[Shredd] very exciting
[Shredd] Shredd - out

IF WE DONT HAVE AN RV IN THE NEXT FEW DAYS, EXPECT THE DINAR TO TANK, DECREASE!!, 5 OCTOBER


10-5-2012  Intel Guru Footforward  The RV is going to happen, I am absolutely sure.  I am still looking for double digits and still looking for something to pop relatively quickly, within the next few days.  There is a drastic misinformation  campaign to try to get people to give up their dinar.  It's going to be like this until the RV happens.  If we don't have an RV in the next few days, expect the dinar to tank, decrease. Do not panic.  It is going to do this to get people give up. Do not give up your dinar. It is a manipulative move.   When the RV happens, you will not find it out in an article.  The first place you will hear about it will be at the banks. There will not be a free float. The value will be controlled. 

WINALOT CHAT, 5 OCTOBER


7:46 AM [winalot] xyz Follow-up - and babysit - economic expert attributed Manaf Al Sayegh, the reasons for the recent actions of the Central Bank to raise (Kuta) Prices of Iraqi banks for the currency, to stabilize the exchange rate of the dinar against the dollar. 

Said Sayegh: The Central Bank to establish new procedures raise quota prices for the currency in Iraqi banks and make market currency market free as a result of the stability and balance of the dinar against the U.S. dollar in the local market, noting that the quota prices imposed on the currency in banks previously when dollar exchange rate rose against the dinar.

 He added: that the central bank to impose restrictions on the sale of the currency in Iraqi banks when increased demand for the dollar and increased its value against the dinar,  procedures achieved a successful balance in the currency.

7:47 AM [winalot] Sayegh stressed: that the policy of the central bank reduced the difference between the price of the two currencies in the money market and the price of the currency at the Central Bank, adding that the exchange rate of the dinar against the dollar has become parallel and the percentage difference between the two estimates (2%). 

He continued: to reduce the difference between the market price and the price of the bank to make a strong Iraqi dinar against the dollar, stressing that the coming period will see a level playing field between the dinar and the dollar. Sayegh said: demand for the currency attack earlier prompting the central bank to restrict the display of foreign currency ceilings pricing and selling virtual currency in the banks to achieve a balance between the dinar and the dollar 

winalot: http://translate.google. ··· 2759.htm

http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Falrayy.com%2F62759.htm

7:47 AM [winalot] <<< Central Bank, adding that the exchange rate of the dinar against the dollar has become parallel and the percentage difference between the two estimates (2%).

7:48 AM [winalot] xyz i'm alwasys around...    

7:48 AM [xyz] winalot ty 

7:48 AM [winalot] xyz welcome

7:49 AM [xyz] winalot hmm what's virtual currency? 

7:49 AM [winalot] xyz it is a kind of a trading system... where u looking at?

7:51 AM [winalot] xyz i am not sure what they mean by that

7:53 AM [xyz] can someone help me understand ->restrict the display of foreign currency ceilings pricing and selling virtual currency in the banks to achieve a balance between the dinar and the dollar <- 

7:53 AM [winalot] xyz looks to me that theyare not going to display the exchange rates over there, and not alow them to trade electronically

7:56 AM [winalot] but... i am not sure

7:57 AM [winalot] BIGREDDOG go get them codes delivered!

7:58 AM [BIGREDDOG] winalot yup!!!

7:58 AM [BIGREDDOG] i had a feelin those meant sumthin!!

8:01 AM [RindsGuy] Did I miss anything? Did anything pop yet?

8:02 AM [BIGREDDOG] not yet

8:04 AM [winalot] RindsGuy me! did ya miss me???    

8:04 AM [BIGREDDOG] winalot we missed you terribly    

8:05 AM [winalot] BIGREDDOG what are u still doing here!!! you have the codes! get movin!    

8:05 AM [RindsGuy] winalot Of course!    

8:05 AM [BIGREDDOG] we gotta get out the door to go find them!

8:05 AM [winalot] BIGREDDOG ya need a boot???/    jacque!!!!

8:06 AM [BIGREDDOG] winalot going, going, gone    

8:06 AM [hopeful2&2] winalot morning,,, trying to get my eyes working, but looks like some more good news

8:07 AM [winalot] hopeful2&2 yes it does... i don't know if some will be able to understand it though.. NO decimal points!!!!    

8:07 AM [hopeful2&2] winalot or comma    

8:08 AM [xyz] winalot that was truly a great find for a fri. tyvm

8:08 AM [winalot] xyz you are welcomexyz lets see if we can find it elsewhere... mor of the same

8:09 AM [winalot] hopeful2&2 dinar trade took the dong off of their site last night late

8:10 AM [xyz] winalot i agree

8:16 AM [hopeful2&2] winalot that sounds really good  hope the dong rv's 

8:17 AM [RindsGuy] hopeful2&2 I checked last night and this morning and their exchange rate is still the same

8:18 AM [hopeful2&2] RindsGuy probally getting ready to change the rate as soon as it rv's

8:21 AM [winalot] maranatha i hear you had some questions yesterday while i was not here??? is there something i can clear up for you?

8:22 AM [maranatha] winalot no, I understood it all and await the RV with you

8:22 AM [winalot] maranatha hmmmm not what i heard.... if u have something you would like to say, i am all ears!    

8:23 AM [maranatha] winalot then someone is misrepresenting me--I am a full supporter of yours

8:23 AM [winalot] i would be happy to answer ??'s

8:23 AM [da58] winalot yesterday people seemed to be doing that - she and i made some statements of it not being right for people to be so ugly!!

8:23 AM [winalot] maranatha no.. just meant someone said u had a ? but didn't know what it was

8:24 AM [winalot] da58 oh! ok! thank sto both of you!

8:24 AM [maranatha] winalot believe me, if I had a question I would ask    

8:24 AM [winalot] maranatha i thought so! and thank you!

8:24 AM [da58] winalot it pissed us both off!!

8:24 AM [hopeful2&2] it was that darn comma that did it

8:24 AM [clubber3] GOOD Morning all. Let's recap this week. We read that an Iraqi official was saying that the $ was going to lose value to the IQD in a FEW days. A CBI official stated that the value of the dinar to $ was 1.18 or 1.19. THere was an article from Iraq showing Maliki with his Ministers, including Defense. Have I missed something?

8:24 AM [winalot] da58 don't let it .... i can fight my own battles.. no need to get involved

8:25 AM [winalot] hopeful2&2 danged thing!

8:25 AM [winalot] clubber3 i have a great article.. if u want it

8:25 AM [eleanor] clubber3 yes Winalots find this morning

8:25 AM [clubber3] let's have it, PLEASE!

http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Falrayy.com%2F62759.htm

Expert: raise the quota of the dollar exchange rate in the banks means the success of central bank policy and exchange rate stability

aid Sayegh: The Central Bank to establish new procedures raise quota prices for the currency in Iraqi banks and make market currency market free as a result of the stability and balance of the dinar against the U.S. dollar in the local market, noting that the quota prices imposed on the currency in banks previously when dollar exchange rate rose against the dinar.

He added: that the central bank to impose restrictions on the sale of the currency in Iraqi banks when increased demand for the dollar and increased its value against the dinar,  procedures achieved a successful balance in the currency.

8:27 AM [winalot] Sayegh stressed: that the policy of the central bank reduced the difference between the price of the two currencies in the money market and the price of the currency at the Central Bank, adding that the exchange rate of the dinar against the dollar has become parallel and the percentage difference between the two estimates (2%). He continued: to reduce the difference between the market price and the price of the bank to make a strong Iraqi dinar against the dollar, stressing that the coming period will see a level playing field between the dinar and the dollar.

8:27 AM [winalot] Sayegh said: demand for the currency attack earlier prompting the central bank to restrict the display of foreign currency ceilings pricing and selling virtual currency in the banks to achieve a balance between the dinar and the dollar  http://translate.google. ··· 2759.htm

<<< Central Bank, adding that the exchange rate of the dinar against the dollar has become parallel and the percentage difference between the two estimates (2%).

8:29 AM [clubber3] WOW< thanks WInalot, now where's my RV!!!!       

8:29 AM [winalot] clubber3 exactly

8:29 AM [goin4broke] winalot So you and Ross Perot are both all ears? Congrats. Good post on 5/3rd yesterday. Its easy for others to say yeah the banks know about it, but I have high up friends and to this day they still deny there is anything to the Dinar. Props to you. Got to go play golf tournament so I'm leaving you in charge of getting the RV to us. Bless you.

8:30 AM [watercolor] I like this - "the coming period will see a level playing field between the dinar and the dollar."

8:31 AM [winalot] watercolor i like this better....Sayegh stressed: that the policy of the central bank reduced the difference between the price of the two currencies in the money market and the price of the currency at the Central Bank, adding that the exchange rate of the dinar against the dollar has become parallel and the percentage difference between the two estimates (2%).

8:31 AM [winalot] as in already DONE!

8:31 AM [clubber3] watercolor, I have one question for you: What does "the coming period" mean    

8:32 AM [watercolor] clubber3 I was going to ask the same ?

8:32 AM [winalot] clubber3 usually means now.. current

8:32 AM [winalot] like next means this...

8:33 AM [clubber3] winalot, except we are dealing with Iraq    

8:33 AM [winalot] clubber3 very true...

8:33 AM [winalot] ok... gonna go and find more news...or try to... share that with everyone!

8:34 AM [winalot] bbiab!