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Sunday, October 7, 2012

Central Bank decides to change the timing of the implementation of the restructuring of the Iraqi currency project and the deletion of zeros, 8 OCTOBER

Central Bank decides to change the timing of the implementation of the restructuring of the Iraqi currency project and the deletion of zeros


Editor: HL | SS Sunday 07 v 1 2012 15:14 GMT

Alsumaria News / Baghdad 
Iraqi Central Bank, Sunday, timing adjustment starting project structuring the Iraqi currency and delete the zeros of them, stressing that it completed the bulk of the proceedings, among that a new currency in circulation must be the beginning of the calendar year where it is determined to start implementation, not through it. 

The bank said in a statement issued today, and received "Alsumaria News", a copy of which, "The CBI was briefed on the frequency of reports indicating postpone the implementation of the project restructure the Iraqi currency and deleting three zeros of them," stressing that "the requirements of coordination and cooperation between us and the the legislative and executive branches led to modify the timing of the start of implementation. " 

The bank said that "this project is of vital importance to our country, our economy and society," adding that he "completed the bulk of the action on the implementation of the project." 

And the bank on the need to "be the new currency in circulation at the completion print must be the beginning of the calendar year where it has been determined start and not during the implementation." 

The Parliamentary Finance Committee suggested, on August 9, 2012, on the San Attorney Haitham al-Jubouri be direct delete zeros and the currency exchange during the month of July of next year, and as shown, the central bank has removed all fears, it confirmed that the government will support this project after providing Baijayate and disadvantages. 

A member of the Economic Commission parliamentary Hussein Mura'bi in (Sept. 23 2012), that the confusion in the monetary policy makes the country lose about eight million dollars a year, while warning that the issue of deletion of zeros will facilitate the mafia money laundering steal billions without feeling state, called to examine the impact on the general situation. 

He accused the Central Bank, (12 September 2011), government agencies of obstructing monetary reform and vowed the persecuting, blaming those entities responsible for exposing the financial interests of the country to danger. 

Regarded as an adviser to Prime Minister for Economic Affairs Abdullah Hussein Al-Anbuge, in (25 August 2011), that the lifting of the zeroes from the currency is the biggest corruption in Iraq if it was during this period, and fall under the name of tampering economic, warning of "mafias currency" is preparing to rig the trillions Iraqi dinars to replace them in the light of the upcoming changes. 

Noteworthy that some economists believe that Iraq is currently formatted for the deletion of zeros from the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability. 

http://www.alsumarianews.com/ar/3/49207/news-details-Iraq%20business%20news.html

Central likely rebound soon dinar, 8 OCTOBER

Central likely rebound soon dinar

10/08/2012 12:00 am 

BAGHDAD / future Iraqi 
CBI likely improve the Iraqi dinar against foreign currency in the near future. The deputy governor said the appearance of Dr. Mohammed Saleh, said that the development of the Iraqi dinar began to improve the difficult international currencies and will improve more over the next few days as a result of increased oil production, which seder substantial financial resources of hard currency, making the country away from the global economic crisis. 
Saleh pointed out that the inverse relationship between the dollar and gold, when rising dollar reduced the value of gold and vice versa, stressing that the global crisis that hit Europe and America have made ​​the demand for gold is increasing for adoption buffer stock to keep the wealth has led to increased price on the world markets with low value of the dollar . and added that some countries when you see the unstable situation of the dollar in trading world they sheltering other alternatives and يتحوطون them are either gold or oil or food viable storage, pointing out that the gold the best alternative to the dollar to maintain the global wealth. 
In the same context confirmed a member of the House of Representatives Najiba Najib that the process of smuggling money abroad violating regulations and instructions issued by the Central Bank had a negative impact on the national economy. Najib said the smuggling operation funds reflected the increase in the exchange rate of the U.S. dollar against the Iraqi dinar which affects the country's economy. 
She said Iraq's economy is still economical ريعيا depends 93% on oil, which is sold in dollars, as well as the fact that imports are in hard currency, and these factors played a major role in the exit of hard currency from the country, as well as the fact that a country's political, economic and security has big role in currency smuggling out of Iraq. She pointed out that Iraq's geographical location next to Syria and Iran and what is happening in the region has had a clear influence in the exit of foreign currency abroad, especially since these two countries are suffering from the siege internationalist and a shortage of hard currency resources.
http://www.faceiraq.com/inews.php?id=993303

DINAR GURUS UPDATE, 7 OCTOBER


0-7-2012  Newshound/Intel Guru BGG   Article:  "Urgent .. Maliki submit candidates for the Interior and the National Alliance qualify them"  Good news that Maliki is submitting any candidate for anything. He has promised numerous times he would address this issue – with no visible action. The IS submitted four legitimate candidates to the Defense Ministry sometime between Sept. 6th to the 11th. We’ll see how serious the NA is about a true National Conference.

10-7-2012  Newshound/Intel Guru BGG   Article: "Maliki: Support reform and paper Otbnaha and ready to attend any meeting of a national"  This is an article about that Friday meeting...Maliki seems to be saying (at least) he supports the National Meeting format. However, I’m sure there is some caveat we aren’t aware of yet. Maliki has stuck to this type of rhetoric for awhile. It’s no secret he has stalled as long as possible…but at some point (by his own admission) he may have to give in.

10-7-2012  Newshound Guru Med    THEY DO DISCUSS WHAT I SAID ON THE TIME FRAME I MENTIONED ON IT TAKING TO GET TO THE ONE TO ONE WITH THE USD AND IN FACT THEY EXPECT IT TO GO HIGHER.  THEY BELIEVE THE DINAR AGAIN WILL HIT 3 PLUS BECAUSE OF THE OIL.  THEY PREDICT 6 MBPD IN COMING YRS AND IN 3YRS THE DINAR WILL BE EQUAL TO THE USD.  THEY ARE SAYING THAT IT WILL STEADILY INCREASE OVER THE NEXT 36 MONTHS TO FINALLY GET TO 1 TO 1.  [post 2 of 2]

10-7-2012  Newshound Guru Med   THIS WAS A VERY VERY GOOD DAY FOR RV NEWS.  THE ARTICLE...TALKS ABOUT US, THE INVESTOR, AND HOW WE ARE READY TO MAKE A KILLING  ON THE DINAR...THAT WE HAVE MORE CONFIDENCE IN IT THEN THE IRAQI PEOPLE AND MOSTLY CUZ WE UNDERSTAND THAT WITH OIL EVEN THOUGH THE GOVT SUCKS THEY WILL STILL BE WEALTHY AND SO WILL THE SPECULATOR

LORIC, MOUNTAINMAN,, BGG,CHOPPER, MROPTIMISTIC & UNCIRCULD POST, 7 OCTOBER



10-7-12 LoriC: Maliki finally submitted names for the Defense Ministries!! We've been waiting for this forever. The National Meeting requires the Erbil agreement enacted and we believe as soon as Iraq has a power sharing government the Central Bank will be able to make their move.

I believe something big is in the works right now and a public announcement will be made of the reforms at the NC.

10-7-12 Mountainman: With the temporary Oil agreement in place, a national meeting in the works and all the talk from the CBI about making a move in the coming period to make the IQD on par with the USD, I'd say we are very, very close to the end of this journey.
10-7-12 BGG: First there is the constant and obvious struggle between the opposition and the dominant National Alliance (Maliki’s gang). This has been an ongoing battle for the soul of this fledgling democracy. Second there is something of a mild internal struggle with in the opposition itself.

This one is not so easy to identify – but it is there. Next is the steady barrage of attacks from the GOI, Maliki and some elements in the Iraqi Parliament against the Central Bank of Iraq.

Finally, there is the overt pressure of the incumbents against those outside forces (the US included) to manipulate pressure against their enemies in an effort to garner support for their political futures.

10-7-12 Choppermike: I'm currently in the Middle East and banks are NOT closed on Monday.

10-7-12 MrOptimistic: Went to my iPhone stocks app and looked at the 2 year chart for iqd=x (ticker) notice on October 27, 2010 that the iqd was at 11.00 instead of the usual ~1167.00 anyone else notice that?

10-7-12 Uncirculd: Maliki doesn't care. He wants business as usual. He wants the National Meeting to make promises. He will tell the Iraqi list that he will name the Defense Minister by June or something. And that he is willing to implement Erbil, and then spend the next 2 years trying to re-write it.

Allawi and Barzani will NOT go unless the Erbil is implemented and ministers in place. That's what they have been saying for over a year. That would begin the power sharing and put Mr Maliki in check

LOOKS AS IF THEY ARE IN A HURRY, 7 OCTOBER

Michigander0131 Articles & Chat 10/7/12 1:31 PM EDT



[michigander0131] 10/07/2012 2:12 The deputy governor Iraqi Almkza Bank the appearance of Mohammed Saleh, said that the central bank was briefed on the frequency of news refers to postpone the implementation of the restructuring of the Iraqi currency project and deleting three zeros. Saleh added in a statement singled out by the reporter, "Iraqi news agency Independent" that while the stress that this project is important and vital for our country and our economy and society, the requirements of coordination and cooperation between us and the legislative and executive branches have to adjust the timing of the launch of implementation, despite the central bank completed the bulk of the proceedings. Moreover, the development of new currency in circulation (upon completion of print) must be the beginning of the calendar year where it has been determined to begin implementation and not through it.  http://translate.google.com/translate?langpair=auto|en&u=http%3A%2F%2Firaq-ima.com%2F
[michigander0131] Economist: project application must delete the three zeroes to serve the citizens and the local currency Issue no: 2588 Issue Date: 10/07/2012: Sunday Last Update: 07/10/2012 BAGHDAD - A follow-up: Stressed the economic expert عبدالحسن Shammari, the need to apply the project to delete the three zeroes from the currency because it hurt to serve the citizen and the national currency by reducing the monetary blocs with large groups in the local market. Al-Shammari said: The implementation of the project restructuring of the Iraqi currency after deleting three zeros which is necessary for it would serve the citizen and the national economy, considering that large groups will turn into a thousand small units, which will facilitate transactions in the market and accounts for government departments. He added: that the project will provide additional financial resources of the country through printed Coins (quarter dinars and a half dinars dinar) where the life span of these categories (25) year, while paper-old does not exceed three months for it's fast handling and damage. He pointed out: that the state is printed annually Banknotes limits (250 - 750) million dollars per year, when the implementation of the project will cut the federal government for printing new currencies annually saving money could be used in projects of the country. This central bank is preparing for the implementation of the project to delete the three zeroes from the national currency after the completion of all procedures related to the project, but so far no date has been set for its application due to calls from some officials to postpone it. http://translate.google.com/translate?hl=en&sl=ar&u=http://www.baghdad-news.com/home.asp%3Fmode%3Dmore%26NewsID%3D48262%26catID%3D10&prev=/search%3Fq%3D%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%26hl%3Den%26lr%3D%26tbs%3Dqdr:d%26prmd%3Dimvns&sa=X&ei=3LxwUNWcN8fyyAHU8YFg&ved=0CGIQ7gEwBg
[cjswest] hello1 michigander0331 thanks for updates 
[michigander0131] very good article here explaining that their will be no lop
[michigander0131] It seems plain as day to me... and EXCITING as all get out! A" large group " turning into a "thousand small units".. means that a single 25,000 note ( large group) will turn into a thousand 25 dinar notes ( thousand small units) - a 1,000 note will become one thousand small units of one dinar.. This CLEARLY INDICATES NO LOP!
[michigander0131] Rush to delete the zeros currency .. Vice: You must start early 2013 10/07/2012 12:00 am BAGHDAD According to a member of the Economic Committee in the House of Representatives Abdul Hussein Abtan, the need for the Iraqi market, to the project to delete the zeros from the Iraqi currency early 2013 to save the country from increasing rates of economic inflation, stressing that the postponement of the project to 2014 will hurt the country's economy. http://translate.google.com/translate?hl=en&sl=ar&u=http://www.almustakbalpaper.net/ArticleShow.aspx%3FID%3D28713&prev=/search%3Fq%3D%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%26hl%3Den%26lr%3D%26tbs%3Dqdr:d%26prmd%3Dimvns&sa=X&ei=3LxwUNWcN8fyyAHU8YFg&ved=0CFAQ7gEwAw
[michigander0131] hmmmmm looks as if they are in a hurry
[michigander0131] Many Iraqis have lost confidence in the Iraqi dinar , but he is big profits for some foreign speculators. This disparity highlights the uncertainty surrounding the investment in Iraq while recovering from years of war and economic sanctions. And depends on the rise of the dinar speculators on a simple logic has increased Iraqi oil exports to 2.6 million barrels per day in September / registered their highest level in three decades and Iraq seeks to export six million barrels per day by 2017, which would make him closer to the current Saudi level. Even if the event of political instability and insurgent violence and bureaucratic without achieving this goal, Iraq still seems on the threshold of an oil boom will lead to a shift in the financial situation. Has granted the flow of oil revenues the new Iraq a large surplus in foreign transactions and enhance the conditions of public finance in the late decade .. This is the traditional recipe for a strong currency.http://translate.google.com/translate?hl=en&sl=ar&u=http://www.nuqudy.com/%25D8%25A7%25D9%2584%25D8%25B3%25D9%2588%25D9%2582_%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A8%25D9%258A%25D8%25A9/%25D8%25A7%25D9%2584%25D9%2585%25D8%25B4%25D8%25B1%25D9%2582_%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A8%25D9%258A/%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%258A%25D9%2588%25D9%2586_%25D9%258A%25D9%2581%25D9%2582%25D8%25AF%25D9%2588%25D9%2586_%25D8%25A7%25D9%2584-18068&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%26hl%3Den%26lr%3D%26tbs%3Dqdr:d%26prmd%3Dimvns&sa=X&ei=a3pxULuZHqjkywGuvoGgCw&ved=0CFsQ7gEwBQ
[michigander0131] this article clearly states how they know we all have dinar and are waiting for the final button pushing
[michigander0131] cjswest hello and your welcome
[cjswest] michigander0131 always appreciate your hard work in finding great articles,
[michigander0131] well thank you always enjoy bringing a little bit different stuff than just stuff from sources and such
[michigander0131] Tariff and the World Trade Committee emphasized the economy and investment parliamentary, that the application of Iraq tariff system will enter into the World Trade Organization, noting that the government has an obligation to take action to protect the economy and prices do not rise. The Finance Minister Rafie al-Issawi announced, last week, for the first identification of next June as the date for the work of the tariff regime in Iraq after it has been postponed twice, "stressing that" this time can not be postponed. "http://translate.google.com/translate?hl=en&sl=ar&u=http://www.customs.mof.gov.iq/&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%2B%25D9%2584%25D9%2585%25D9%2586%25D8%25B8%25D9%2585%25D8%25A9%2B%25D8%25A7%25D9%2584%25D8%25AA%25D8%25AC%25D8%25A7%25D8%25B1%25D8%25A9%2B%25D8%25A7%25D9%2584%25D8%25B9%25D8%25A7%25D9%2584%25D9%2585%25D9%258A%25D8%25A9%26hl%3Den%26lr%3D%26safe%3Doff%26tbs%3Dqdr:d%26prmd%3Dimvns&sa=X&ei=qINxULPANKSryQHy0ICgCg&ved=0CD8Q7gEwAQ
[cjswest] michigander0131 just wish their hurry up thing was really going to happen in 2012    
[michigander0131] cjswest me too
[michigander0131] Sunday, 07 October 1 / Okrudolf 2012 10:23 Weak Good Twilight News / Deputy Prime Minister, Sunday, Iraq's access to the "green light" from the United Nations; to reduce the amounts of compensation ratios invasion of Kuwait from 5% to 2 or 3% of the proceeds of Iraqi oil exports. Said Rose Nuri Shaways, in a statement reported for "Twilight News", "Iraq got the green light from the United Nations to reduce the rates of the amounts of compensation invasion of Kuwait of 5 percent to 2 or 3 percent of the revenues of Iraqi oil exports," noting that "this important but will prolong the repayment period is about to end soon. "  http://translate.google.com/translate?langpair=auto|en&u=http%3A%2F%2Fwww.shafaaq.com%2Fsh2%2F
[michigander0131] so now the UN has ok,ed the reduction of compansation to kuwait from iraq//so lets get it done already ch 7 that is
[michigander0131] Sunday, 07 October 1 / Okrudolf 2012 01:09 [Baghdad - where] The Chairman of the Committee on Foreign Relations parliamentary Hamoudi complicated procedures to remove Iraq from Chapter VII marched country and committed to its implementation, and is now waiting to take him out of this item. He told all of Iraq [where], that "the country out of Chapter VII is not easy nor is based on emotions, there are complicated procedures walked where Iraq, and committed to their implementation, and much has been done, and now my understanding that the ball in the court of the Kuwaiti side that is peace" . http://translate.google.com/translate?langpair=auto|en&u=http%3A%2F%2Fwww.alliraqnews.com%2Findex.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D44652%3A2012-07-12-11-35-27%26catid%3D41%3A2011-04-08-17-27-21%26Itemid%3D86
[michigander0131] im just ready to put this computer down for good//once this happens im done with iraq and any news articles //
[michigander0131] The time on Sunday, 07 October 1 Baghdad / Orr News Reveal the Integrity Committee in the House of Representatives today in a press conference a new list of the names of senior officials implicated files financial and administrative corruption, includes a number of ministers, deputy ministers and directors-general of the former and current. The Committee pointed out that there are ten houses to senior officials in the state was restored and rehabilitated inside the Green Zone, cost millions of dinars of public money and will announce the names of those owners.  http://translate.google.com/translate?langpair=auto|en&u=http%3A%2F%2Furagency.net%2F
[michigander0131] this is no surprise
[michigander0131] ok all have a good afternoon//

BEEN DISCUSING CHINA AND HOW THEY MAY BE EFFECTING THE RV, 7 OCTOBER


TERRYK] HEY ALL
[TERRYK] I WANTED TO SHARE ONE THING WITH U AS THE GAG ORDER IS ON UNTIL TUE
[honeybee]    Hi big bossterryk 
[TERRYK] NOW I GOT THIS AND IT MAKES SENSE
[TERRYK] been discussing China and how they may be effecting the RV. First China is one of the largest holders of IQD. Second China is the largest holder of VND outside of Vietnam. Both the IQD & VDN are part of the five currency re-valution basket. Third China's banks have been observing a National banking holiday that started October 1st and ends this Sunday. By the way Chinese banks are open seven days a week. How could this world wide currency re-valuation have occurred with Chinese banks being closed for a week? Why has nobody picked up on this we do not know. They were key in setting the VDN rate last week as we were told. This may be our actual hold up. But one more delay may be our banking holiday this coming Monday. This means the earliest would be Tuesday. I believe all we are hearing out of Iraq is preparation for this to happen. They can pull the trigger anytime but certainly want to stay on good terms with all the big players. By the way the VDN has been pulled of off Dinar Inc., not available anymore. Bet we see more signs like this through the weekend. Below details what the IMF & WTO can and can't do. In reality it is up to each country. Iraq has been given approval as we have seen to move forward. Let us watch this thing happen tn the next four days
[TERRYK] OK GOT TO RUN TO LUNCH CATCH U ALL LATER
[TERRYK] I THOUGHT YOU LIKE THAT READ
[TERRYK] GOD BLESS
[Agent 007]    thanks 
[cjswest]    thanks much

CBI lifts restrictions on auction to buy the US dollar from treasury, 7 october


CBI lifts restrictions on auction to buy the US dollar from treasury


Iraqi central bank raised restrictions it had imposed in 2011 on the auction to buy the US dollar from the treasury.
The sources said that “it shares to raise the exchange rate of the Iraqi dinar against the dollar, up to 1170 dinars to the dollar one, after a week ago was equal to 1220 dinars.”
The deputy governor of the Bank the appearance of Mohammed Saleh, said that “the central bank’s measures, and in particular the adoption of the commercial register of the buyer, was able to reduce demand and save about $ 100 million of the quota allocated to the market, amounting to $ 340 million.”
For its part, reported a member of the Finance Committee in the House of Representatives Majida al-Tamimi, “The decline in demand for the U.S. dollar was due to the monopoly of six banks to auction the Central Bank of Iraq.”
She added that ” most of the trade and transfers with those banks and real fake but not exceeding them 10%. “
http://bit.ly/R3C77k

Announcement of the approval by the United Nations to reduce the compensation of Kuwait, 7 october

Announcement of the approval by the United Nations to reduce the compensation of Kuwait

Date: Sunday 07/10/2012 06:33 pm
Deputy Prime Minister, Sunday, Iraq’s access to the “green light” from the United Nations; to reduce the amounts of compensation ratios invasion of Kuwait from 5% to 2 or 3% of the proceeds of Iraqi oil exports.
Said Rose Nuri Shaways, said that “Iraq got the green light from the United Nations to reduce the rates of the amounts of compensation invasion of Kuwait of 5 percent to 2 or 3 percent of the revenues of Iraqi oil exports,” noting that “this is important, but will prolong repayment period, which is the coming to an end soon. “and reduce the UN Security Council more than once ratio, which was deducted from the proceeds of the sale of oil and gas in Iraq to be directed to a compensation fund of 30% as set out originally to 5% currently.
Shaways said “Iraq’s money legally covered properly which makes them immune from prosecution creditors, especially after the agreements made in this regard with the Development Fund for Iraq, which save, and the decision of UN all the oil sales revenues, They protect renewed annually is that it will end next year.
“and expressed the UN Secretary General” Ban Ki-moon “last July satisfaction with Iraq’s cooperation with the United Nations Compensation and continued Baghdad perform five per cent of oil revenues to compensate victims of the Iraqi invasion of Kuwait in 1990 likely complete compensation early 2015.,
the Iraqi government, announced on Saturday, with regard beside another award; they would not be paid compensation agreed for the Kuwait Airways Corporation before it fell recent call judicial against Iraqi Airways.
said Secretary General of the Iraqi Council of Ministers on the Keywords, in a press statement seen by “Twilight News” that “Kuwait should fall claims in international courts against Iraqi Airways.” It is estimated that the total amount of compensation paid by Iraq so far about 4.36 billion dollars and left a total of $ 16 billion to be paid. . Estimates indicate that this amount will be paid in full by early 2015
http://bit.ly/QVCMV7

Economic Committee Member: Rush to delete the zeros currency; You must start early 2013, 7 october

Economic Committee Member: Rush to delete the zeros currency; You must start early 2013

10/07/2012 12:00 am
According to a member of the Economic Commission in the House of Representatives Abdul Hussein Abtan, the need for the Iraqi market, to project the deletion of zeros from the Iraqi currency early 2013 to save the country from increasing rates of economic inflation, stressing that the postponement of the project to 2014 will hurt the country’s economy.
said Abtan necessary to move from currency zeroes in excess of the cluster of financial and makes them an easy way to steal and loss to the currency more sophisticated, pointing out that the project to delete the zeros is a message to the civilized world that Iraq’s economy is improving day after day.
added that the project to delete the zeros will not lead to the collapse of the currency, but will make it safer than theft and less cash in mass commercialization. For his part, stressed the economic expert Abdul Hassan al-Shammari, the need to apply the project to delete three zeros from the currency because it hurt to serve the citizens and the national currency by reducing the masses of cash with groups large in the local market.
Al-Shammari said that the implementation of the project restructuring Iraqi currency after deleting three zeros which is necessary because it will serve the citizen and the national economy as the groups large turn into a thousand small unit, which will facilitate transactions in the market and accounts for government departments.
pointed out that the State is printed annually Banknotes by about 250 to 750 million dollars per year, when the implementation of the project would cut the federal government for printing new currencies annually saving money could be used in projects of the country.
was the prime minister called for the central bank to wait to draft deleted three zeros from the local currency, stressing that he is a big project and needs to be enough time to implement it.
http://bit.ly/SLEiZ7

Deputy Governor of CBI: Likely improvement in the Iraqi dinar against foreign currency in the near future, 7 october


Deputy Governor of CBI: Likely improvement in the Iraqi dinar against foreign currency in the near future


Date: 07/10/2012 10:47:54 Sunday
Baghdad (news) .. Attributed deputy central bank governor appearance of Mohammed Saleh, the reasons for the high price of gold on world markets due to the economic crisis that swept Europe and America, which led to the devaluation of the dollar and the euro against other currencies, likely improved Iraqi dinar exchange rate against international currencies during the coming period.
Saleh said (for the Agency news) on Sunday: The relationship between the dollar and gold is an inverse relationship ie when rising dollar reduced the value of gold and vice versa. confirmed: that the global crisis that hit Europe and America have made ​​the demand for gold increases for taking buffer stock to keep the wealth, which led to increased price in global markets with low value of the dollar.
added: some states when you see that the dollar and put it unstable in the trading world, it sheltering to other alternatives and يتحوطون by a Lama gold Awalnaft or food viable storage, pointing out that the gold the best alternative to the dollar to maintain the wealth World.
said: that the status of the Iraqi dinar began improving in front of the international currency difficult and will improve more during the coming period as a result of increased oil production, which will refund substantial financial resources of hard currency, making the country away from the global economic crisis.
http://bit.ly/R3Dnr7