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Thursday, November 15, 2012

FEATURE-They're buying what? US investors latch onto Iraqi dinar, 15 nov



Nov 15 (Reuters) - The U.S. stock market almost wiped out his retirement account, but retired pilot Ronald Scarpa hasn't lost his taste for risk. Lately he has turned to one of the chanciest investments in the world - the Iraqi dinar.

"It's not a question of if, but when Iraq revalues its currency," said the Las Vegas-based Scarpa, who keeps dinars in his retirement account. "The dinar will eventually have substantial value, possibly the highest in the world."

He's not alone in risking his money on an investment that can charitably be described as a long-term turnaround project that will pay off only for the extremely patient. Thousands like Scarpa in America are buying the dinar, hoping someday the war-torn nation can revalue a currency worth just a fraction of a penny.

The fundamentals for buying the dinar are precarious. The United States invaded the country in 2003 and has only recently removed most of its troops. The country's political situation remains unstable, and destabilization in the Middle East - most recently with rockets fired betweenIsrael and the Gaza Strip - could undermine the fledgling republic further.

U.S. retail investors' interest in Iraq's currency is part of a broad push for investment opportunities that will give some yield. Most of them cite near-zero interest on their U.S. savings and certificates of deposits as a reason for buying dinars and other exotic currencies.

The dinar, worth just a tenth of one U.S. cent, is experiencing additional downward pressure as a result of international economic sanctions imposed on neighboring Iran and Syria.

Also, buying the dinar is a task in and of itself. The currency is only traded in Iraq, so it can only be purchased by U.S. customers through a handful of dealers around the U.S. who get their dinars from Iraqi banks. If a customer wants to sell his dinars, the dealer will only buy it back at a 30 percent discount - so no quick trades here.

But Scarpa said he is prepared to wait. The country has the second-largest oil reserves in the Middle East and exports 3.4 million barrels of oil per day, making it one of the world's largest oil producers.

"If the dinar rises to just even a penny, you would have realized a profit of 900 percent," Scarpa said.

WEAK CURRENCY BRINGS IN SPECULATORS

In the last four years, the dinar has barely moved. Since 2008, it has appreciated by just 5 percent against the dollar, and at a tenth of a penny, the Iraqi dinar is the weakest currency among oil-producing Arab nations.

The Kuwaiti dinar is worth about $3.50, while Saudi Arabia's riyal is equivalent to roughly 26 U.S. cents.

The old dinar was worth $3.20 before the United Nations embargo that followed Iraq's invasion of Kuwait in 1990. By August 2002, the dinar had plummeted to a fraction of a penny.

Speculators are betting that given Iraq's potential as an oil-driven economy, the dinar could rise to a value of $1 to $3.

"I looked at the risks and I decided that this is not going to bankrupt me," said 35-year-old Ryan Williams, a former sheriff in Bakersfield, California.

"You invest a couple of hundreds or a couple of thousands of dollars and even if it just appreciated by 10 to 15 percent a year, that's still a lot better than investing in certificates of deposits here."

The Iraqi central bank sells dollars daily at a fixed price of 1,166 dinars through two state-run financial institutions and some private lenders Those institutions set the market rate through sales to customers. The current market rate is 1,215 dinars to one U.S. dollar.

Hassnain Ali Agha, founder of Las Vegas-based currency dealer Dinar Trade, is the biggest U.S. market-maker in Iraq's currency. He also sells other exotic currencies such as Afghanistan's afghani and the Libyan pound.

The United States is a huge market for Agha's firm, which has nearly 900,000 customers, 90 percent of which have purchased dinars. His customers are U.S. mom-and-pop investors - teachers, police officers, and construction workers. He also sold dinars to many U.S. soldiers coming back from Iraq.

Agha, who formerly traded at the Chicago Mercantile Exchange and New York Futures Exchange, himself holds more than $2 million in dinars, he said.

In 2011, Agha said, his firm sold about $577 million in dinars to U.S. customers, most of whom hold dinars for investment purposes.

"People in the U.S. really feel that Iraq is the next frontier market to make money on," said Agha. "There will come a time when the Iraqi government will have to adjust the dinar exchange rate given the country's oil exports. That will start fueling the fire."

Agha sells dinars in 1 million lots for $1,120. For the U.S. investor, however, it has to be a long-term holding. Dinar Trade will buy Iraqi notes at $850 per million, so the dinar would have to appreciate by about 30 percent before an investor could sell and break even.


IRAQIS WANT DOLLARS

In Iraq, prices are quoted both in dinars and dollars, but many prefer the greenback, locals interviewed by Reuters said.

Saja Majeed, a 30-year-old civil servant in Baghdad and a mother of two, said she carries dollars in her wallet because it is safer and she sees little opportunity for the dinar to rise.

"There is no industry in Iraq except oil. The dinar is linked to oil, but oil will run out one day," Majeed said.

Revaluation will only happen once the Iraqi government stabilizes. Iraq's central bank hopes to make one dinar equal to $1 at some point through redenomination and central bank-induced appreciation.

Iraq's deputy central bank governor Mudher Kasim told Reuters that process could take three years.

America investors are remaining patient.

"The big question is: where do you put your money in the U.S.? You can't get any interest in your money. Banks give you almost nothing on deposits," said Donna Simko, a real estate agent in her mid-sixties in Riverside, California.

"The gold rush into Iraq is just getting started."
http://www.reuters.com/article/2012/11/15/forex-investments-dinar-idUSL1E8LC7LV20121115

DINAR GURUS UPDATE, 15 NOV


11-15-2012  Newshound Guru Adam Montana   [With new information stating that the U.S. will be the leader in oil product, out producing the Saudi's (although some years away), in your opinion how will this effect the value of the U.S. Dollar to that of the IQD and the Saudi Dinar? And what will this look like for our investment in the future?]   I think this is a good thing for our investment. If Iraq wants to raise the value of their currency, they need to do it BEFORE the US starts catching up in terms of oil production. The value of oil, and therefore the intrinsic value of their currency, will go the wrong way when the US ramps up oil production.   they need to raise the value SOON, otherwise they won't have the resources to back up a higher valued currency.

11-15-2012  Newshound Guru Kaperoni   tariffs are directly related to the exchange rate as the WTO to the Tariffs.  One goes with another.  So if they hold this new target date, we should see the rate rise well before June.  Now is good. 

11-15-2012  Intel Guru TerryK    Heard comment that Shabibi will be back.   Shabibi said he will not set foot in Iraq unless they drop the arrest warrant  due to the reason that he knew he would be carted off to places unknown. Shabibi knows what Maliki will do...they have hated each other for a very long time...Big power struggle but they are peas in the pod.  Shabibi does not want Maliki to get his hands on all that money and go out at buy weapons.   Talibani left the country today he was angry, aggravated...as diplomatically as he could put it stated Maliki was difficult to deal with.  I know some of you are tired of hearing it's going to happen.  So many things change...but what I bring to you is the rumors we hear.

11-15-2012  Newshound Guru Tlar  I guess the tariffs are put off again.  The exchange rate has to go up before this event or it will be extremely inflationary.   It's coming even if it is not exactly in January.  If they actually implement this, this time, we should see the RV before June.  I guess Turkri isn't worried about accounting periods as was Shabbs.  That's a positive if true because had Shabbs still been in office and not pulled the trigger Jan 1st, it would have been delayed another year.  Remember Shabbs said he would not remove the zeros in the middle of the accounting year because it would be to complicated to make the change.

11-15-2012  Newshound Guru Mountainman   Something I found curious was that Japan is now pushing for the implementation of some projects in Iraq's economic sector that they funded with a 4 billion dollar loan. No details were given other than to say the loan was for funding 19 projects in the economic sector and to develop Iraq's infrastructure. There sure are a lot of countries and powerful companies all pushing for Iraq's recovery, whether that be economically, politically or the removal of sanctions. Everyone is in Iraq's corner right now.

11-15-2012  Newshound Guru Phoenix3333  Article quote:  "The measures being taken to the Central Bank by the government will maintain the value of the dinar and perhaps raised during the coming period, which will impact positively on the overall activity of the national economy."  It "appears" that Shabibi was not allowing the Iraqi Dinar to raise in value and that is why he was removed, only time will tell.

11-15-2012  Newshound Guru LoriC   Today economic committee members said that the value of the dinar will improve against the dollar in the coming period after the federal government carries out some reforms. They even said specifically it will be a high exchange rate on the dinar against foreign currencies. All the signs point to this being over very soon, either in November or December at the latest. 

11-15-2012  Newshound Guru Adam Montana  where are we? Well, the US Elections are over. The year end is coming quickly, and it makes a lot of sense to do a rate change as the year is changing. And it ALSO makes a lot of sense to get this done now, while Shabibi is unable to be a major obstacle. So in my opinion, things are looking positive in the near future... again, the thing to watch is the HCL.  In my opinion...Erbil/HCL - they go hand in hand. Once that is done, we are on the home stretch. Hang on tight then, boys and girls! 

11-15-2012  Newshound Guru Med    IN EVERY MINISTRY THAT MALIKI HAS APPOINTED SOMEONE  THEY HAVE FAILED.  THESE MINISTRY APPOINTMENTS TO ME ARE NOT WHO COULD ACTUALLY RUN IT BUT THEY WERE POLITICAL FAVOR APPOINTMENTS WITH NO CONSIDERATION IF THIS PERSON COULD ACTUALLY DO THE JOB.   

11-15-2012  Intel Guru BWM   everything that I'm hearing still says that they expect the VND and IQD to go at the same time publically

DISCUSSION OF CARELLO, KAPERONI, NUGGET, FRANK, TLAR, PEPPERRUB & OTHER, 15 NOV


"that the measures being taken to the Central Bank of by Shafez government on the value of the dinar and perhaps raised during the coming period, which will impact positively on the overall activity of the national economy"

CARRELLO:  They really make it sound like they rushed in and saved the bank, reserves, and the revaluation. Yeah, okay. Whatever.         

KAPPERONI:  I want to keep a positive attitude that "coming period" is within a few months.  Remember there is a facilitator that is ready to go after making a deal in September.  I don't expect they like just sitting and waiting either.  Not to mention, there is some money involved in setting up the trading room.

NUGGET:  I would imagine it is not a rehash because of two things... One in paragraph three Amir discusses the change of Management within the CBI and whatever else they accused the CBI of... and second the 2013 Budget has been read once and is being worked out so the article below discusses a change of currency at the begining of the year from Hassan Salman a member of the Finance Committee...

Baghdad (news) .. Exclude a member of the Finance Committee MP / coalition in Iraq / Hassan Salman al-Bayati, retrieval budget year (2013) to the government under the pretext of freedom from the final accounts of the past years, likely approval prior to the date (31/12/2012).

Bayati said (of the Agency news) on Tuesday: The House of Representatives completely during its next to discuss the budget was postponed Read all legal projects to be discussed during these days in order to vote on the budget in (2013) early in order to be practical exchange money at the beginning of the year next.

FRANK:  Can someone tell me how long is this ( coming period) is it this year or what? and what reforms are the Feds carrying out?

TLAR:  Frank, Coming period, soon, and in the next few days are all terms the Iraqi newspapers give when none of them have a clue as to when it is going to be.  A prime example is "the Security Minsters will be picked in the coming days".   How many times have we heard this? "The HCL will be will be passsed in the coming period" or my personal  favorite by Talibini, ""the national conference will be held soon".

PEPPERRUB: The best reason for this to RV before 1/1/2013 is the dividend rate.  Washington politics will probably let the dividend rate go from 15% to a minimum of 20% up to a maximum of 40%, if not a sliding scale.  And then add in the 3.8% from healthcare reform commencing 1/1/2013 on cap. gains!

TOBYBOY:  I believe coming period is referring to quarter next quarter is Jan-Feb -March whereas this period is Oct-Nov-Dec

    breezin :   This may be just an announcement of stabilizing the current street rate to the current CBI rate.  Not to be a wet blanket .... but until we see Maliki change to a strong dinar policy I don't think we can conclude the float is near.  JMHO

NUGGET:  I agree 100% breezin, it could just be that which you have stated... all is out on the table now. One thing that seems pretty clear is that new management is moving into the CBI to finish what has been started and should have been completed... And we do know from news articles that the new management is now in position and is capable to completing what Shabibi has sat on since Nov of 09... Three years folks...  Just sayin!  Blessings

Scalp:    coming period sits nice with the start of a new year..as in 1/1/13 <=== that date looks mighty strong right now, heres hoping :) or before, even better...I just think the new currency has to come out at the start of a new year like shabbers said so am feeling good to see this in the next 8 weeks or less, hope they don't disappoint us again

A lot points to early 2013 being our time and of course tons of articles from cbi since 2010 saying early 2013 help me feel confident that this might actually be it.....we just didn't want to believe that date back then, I will take it with both hands now, yup I will :)

I think shabbygate is all about M taking the credit for saving Iraq and therefore securing another term as PM...heres hoping they pass that term law, thhats a slap in the face I want to see
****** ARTICLE BEING REFERENCED BELOW & LINK

Member of the economy likely to improve the value of the dinar against the dollar after the ongoing reforms to the work of the Central Bank

Date: 15/11/2012 05:45:19 Thursday

Baghdad (news) .. Expect a member of the Committee on the economy and investment MP / National Alliance / Amer winner, the high exchange rate of the dinar against foreign currencies during the coming period after the important reforms carried out by the federal government central bank action.

The winner (of the Agency news): The administrative reforms taking place in the Central Bank will help to stabilize the value of the Iraqi dinar and maintain the balance of hard currency sovereign existing cash reserve at the central bank.

He added: change management central bank was required since the period because it failed its policy aimed to stabilize the Iraqi dinar exchange rate against the U.S. dollar and the impact occurred money laundering drain of hard currency, stressing if continued central bank to its policy cash prior to Turn dinar downward either hard currency, thus affecting on the economic activity of the country.

And stated: that the measures being taken to the Central Bank of by Shafez government on the value of the dinar and perhaps raised during the coming period, which will impact positively on the overall activity of the national economy.

DISCUSSION OF MICHIGANDER, 15 NOV

[michigander0131] Huani demanding the blocks to stop interfering in the case of the Central Bank 15 November 2012 BAGHDAD Student head of the parliamentary legal committee Khalid Shwani all the political blocs to stop the subject of central bank intervention. Said Shwani Agency (UR) "topic now it's share of the Iraqi judiciary and the case left him", adding that "to be on all sides to give to eliminate room to settle this file." Huani stressed that "labor laws and the structure of the central bank and its powers give immunity to the governor and his deputy for legal issue in Business accused by demanding that the Iraqi judiciary to take into account the materials, the central bank governor."http://translate.google. ··· y.net%2F 
[michigander0131] well this is how they take care of people that speak out in Iraq

[michigander0131] World Bank: Iraq is ranked 165 in the worst countries to do business http://translate.google. ··· s.com%2F --michigander0131] cjswest there will be thats what the article is saying //now that he is gone the value will raise/im hoping before january
[nano36] michigander0131 I saw that list the other day. They can't get their act together long enough to get anything done 
[michigander0131] 165th out of 195
[michigander0131] World Bank representative in Baghdad: the country's resources wasted at the expense of subsequent generations Font Size: 11/11/2012 http://translate.google. ··· QQ7gEwAA 
[cjswest] michigander0131 fingers crossed, eyes too    
[michigander0131] 11/15/2012 2:42 pm His Excellency the Prime Minister Nuri al-Maliki at his office today, the official commander of U.S. forces in the Central Region, General James Ann Mathis and his accompanying delegation. He stressed the need to continue the implementation of the strategic framework agreement signed between the two sides, particularly in the field of military cooperation and armaments, and said that Iraq needs a defensive weapons to protect its sovereignty and independence and maintaining wealth. http://translate.googleu ··· jeDa65kA --                                                     
[michigander0131] cjswest yes im anxiously waiting to see what happens in the next few weeks

Michigander0131] Date: 13/11/2012 12:36:13 Tuesday Baghdad (news) .. Exclude a member of the Finance Committee MP / coalition in Iraq / Hassan Salman al-Bayati, retrieval budget year (2013) to the government under the pretext of freedom from the final accounts of the past years, likely approval prior to the date (31/12/2012). Bayati said (of the Agency news) on Tuesday: The House of Representatives completely during its next to discuss the budget was postponed Read all legal projects to be discussed during these days in order to vote on the budget in (2013) early in order to be practical exchange money at the beginning of the year next. http://ikhnews.com/news. ··· id=63355 
[michigander0131] 2013) early in order to be practical exchange money at the beginning of the year next.
[michigander0131] great part of this article
[michigander0131] Date: 15/11/2012 05:45:19 Thursday Baghdad (news) .. Expect a member of the Committee on the economy and investment MP / National Alliance / Amer winner, the high exchange rate of the dinar against foreign currencies during the coming period after the important reforms carried out by the federal government central bank action. The winner (of the Agency news): The administrative reforms taking place in the Central Bank will help to stabilize the value of the Iraqi dinar and maintain the balance of hard currency sovereign existing cash reserve at the central bank. He added: change management central bank was required since the period because it failed its policy aimed to stabilize the Iraqi dinar exchange rate against the U.S. dollar and the impact occurred money laundering drain of hard currency, stressing if continued central bank to its policy cash prior to Turn dinar downward either hard currency, thus affecting on the economic activity of the country. And stated: that the measures being taken to the Central Bank of by Shafez government on the value of the dinar and perhaps raised during the coming period, which will impact positively on the overall activity of the national economy. / End / 8 / http://translate.google. ··· UQ7gEwAA -- 
[michigander0131] it appears that from this article that shabbibi may have been holding down the value/ on purpose and hence his removal so that they can raise it to where it should be

Ali Allawi competition enters the office of Governor of the Central Bank Issue no: 2606 Issue Date: 11/06/2012: Tuesday Last Update: 06/11/2012 BAGHDAD - A follow-up Academic and economic income and Visiting Professor at the University of Hard United States Ali Allawi competition take over as central bank governor to succeed Shabibi issued an arrest warrant. The parliamentary Finance Committee revealed on the nomination of two characters one of whom would the position of Governor of the Central Bank of Iraq and two Ahmad ÇáČŃíĺí and Ali Allawi. And said a member of the Committee MP for the rule of law, Haitham al-Jubouri said "the most actively traded names in Parliament and a strong candidate for the post of Governor of the Central Bank First," Ahmed ÇáČŃíĺí "It is a well-known economist, and" Ali Allawi, "the former finance minister.

 http://translate.google.com/translate?hl=en&sl=ar&u=http://www.baghdad-news.com/home.asp%3Fmode%3Dmore%26NewsID%3D48903%26catID%3D10&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%2583%2B%25D8%25A7%25D9%2584%25D9%2585%25D8%25B1%25D9%2583%25D8%25B2%25D9%258A%26start%3D10%26hl%3Den%26lr%3D%26cr%3DcountryIQ%26safe%3Doff%26sa%3DN%26biw%3D1280%26bih%3D614%26tbs%3Dqdr:d,ctr:countryIQ%26prmd%3Dimvns&sa=X&ei=4AmYUKfWCYqa2AWRloDYBA&ved=0CE0Q7gEwAzgK

 [michigander0131] Ali is Iyad's cousin, and he's also Achmed Chalabi's nephew. Hence, he's acceptable to both INA and IS. 
[michigander0131] this is the best choice for new cbi head IMO
[heaven1] michigander0131 is that the A we know
[heaven1] maybe not
[michigander0131] its his cousin and he gets along with everyone he is the former finance minister
[heaven1] it is not the same one 
[heaven1] good
[michigander0131] heaven1 yes im hoping they can get moving again in the right direction

PHOENIX, KAPERONI, MOUNTAINMAN & LORIC POST, 15 NOV


11-15-12 Phoenix3333: It "appears" that Shabibi was not allowing the Iraqi Dinar to raise in value and that is why he was removed, only time will tell. Snip - "The measures being taken to the Central Bank by the government will maintain the value of the dinar and perhaps raised during the coming period, which will impact positively on the overall activity of the national economy."

11-15-12 Kaperoni: "The high exchange rate of the dinar against foreign currencies during the coming period after the important reforms carried out by the federal government central bank action. Measures being taken to the Central Bank of by Shafez government on the value of the dinar and perhaps raised during the coming period."

11-15-12 Mountainman: Something I found curious was that Japan is now pushing for the implementation of some projects in Iraq's economic sector that they funded with a 4 billion dollar loan. No details were given other than to say the loan was for funding 19 projects in the economic sector and to develop Iraq's infrastructure. There sure are a lot of countries and powerful companies all pushing for Iraq's recovery, whether that be economically, politically or the removal of sanctions. Everyone is in Iraq's corner right now.

11-15-12 LoriC: Today economic committee members said that the value of the dinar will improve against the dollar in the coming period after the federal government carries out some reforms. They even said specifically it will be a high exchange rate on the dinar against foreign currencies. All the signs point to this being over very soon, either in November or December at the latest. 

DISCUSSION OF MED, 15 NOV


Cheeks (05:32:06): hey did you read alringtonAZ post

Med: NO  WHAT IS IN IT   GREAT LET ME LOOK OK  GIVE ME A FEW MIN  LET ME READ IT SLOWER

OK I DID AGAIN AND AGAIN AND AGAIN    AND THEN I EDITED IT  THE GIST OF THE POST AND WHAT IT MEANS  I HIGHLIGHTED IN RED (underlined here)  IT IS NOT A BLOC HIGHLIGHT  IF YOU READ IT YOU WILL KNOW WHAT I MEAN

Cheeks: http://www.dinarspeculator.com/showt...e-Central-Bank

Member of the economy likely to improve the value of the dinar against the dollar after the ongoing reforms to the work of the Central Bank

Baghdad (news) .. Expect a member of the Committee on the economy and investment MP / National Alliance / Amer winner, the high exchange rate of the dinar against foreign currency during the coming period after important reforms carried out by the federal government work's central bank.

Said the winner (of the Agency news): The administrative reforms taking place in the bank Central will help to stabilize the value of the Iraqi dinar and maintain balance sovereign foreign currency existing cash reserve at the central bank.
  And added: change management central bank was required since the period because it failed its policy aimed to stabilize the Iraqi dinar exchange rate against the U.S. dollar and the impact occurred money laundering drain of hard currency, stressing if continued central bank to its policy cash prior to Turn dinar downward either hard currency, thus affecting economic activity of the country.

Said: that the measures being taken to the Central Bank by the government Shafez the value of the dinar and perhaps raised during the coming period, which would affect positively on the overall activity of the national economy. / end / 8 /

http://www.ikhnews.com/news.php?action=view&id=63589

Cheeks: ok .. i like in coming period

Cheeks: ok let me see

ceric: Hi med and ds and cheeks I will be at a loss should this site disappear not just as you said dinar related but but getting to know the characters and lives and its like a little family even though no one knows me I feel sad for glk anD i havent even met her thats how strong this site is

Cheeks: gm ceric and yes very sad ..   ok med i saw it and i understand.. so TICK TOCK

Med:  SO YOU LIKED IT   HI CERIC

Cheeks: now what i was think that .. the rate of exchange should of been moving a long time ago. but with all the courpation that was going on. Shabbi timeline was up.. so now i see they want it .. jmo one day we will see it 1:1

Med: YES

Cheeks: in the coming period

Med: IT SEEMS THAT THEY ARE NOT HAPPY WITH HOW THE DINARS RATE OF EXCHANGE WAS CRAWLING BUT IF THEY HAD ISSUES

Cheeks: correct slow

Med: THEN WHAT WAS THE WHINING IT WAS THE NA WHO COMPLAINED AND COMPLAINED ABOUT THE DELETION OF ZERO'S NOW THIS TO ME IS KIND OF HYPOCRITICAL

Cheeks: we should have been at the bank already

Med: WE SHOULD HAVE BEEN 3 YRS AGO THIS MONTH IF THEY HAD GONE FORWARD IN NOV 09

Cheeks: yea

Med: THEY WOULD HAVE BOOSTED THIER ECONOMY AND IT WOULD HAVE BEEN A BOOM TOWN

Cheeks: but now it has to be done ..

Med: RIGHT NOW THEY NEED TO MOVE OR THEY ARE GOING TO DIG A BIGGER HOLE

Cheeks: and they want it before the 1st of the year.. why because of the buget

Med: THAN THEY HAVE ALREADY DUG THEMSELVES CERIC YOU HERE STILL  HEY CHEEKS I HAVE TO PUT MY FEET UP WHAT I AM GOING THROUGH RIGHT NOW  IS PRETTY ROUGH

Cheeks: i'm sure all MOF have read the buget and they know the rate .. the draft had it at 1usd:1.18 dinar

Med: YES I REMEMBER

Cheeks: i know .. plus i have to go to work

Med: LETS HOPE SO EVEN MOVING AND NOT JUST A PIP SOME SERIOUS MOVEMENT TO SHOW THEY ARE SERIOUS

Cheeks: yes move it

Med: OK BRO I HAVE TO MOVE IT IS SO PAINFUL

Cheeks: ok ttlsorry

Economic parliamentary likely improve the value of the dinar against the dollar after the ongoing reforms to the work of the Central Bank, 15 nov

Economic parliamentary likely improve the value of the dinar against the dollar after the ongoing reforms to the work of the Central Bank

Thursday November 15, 2012

BAGHDAD - babysit - Expect a member of the Committee on the economy and investment MP Amer winner, the high exchange rate of the dinar against foreign currencies during the coming period after the important reforms made ​​by the government central to the work of the central bank.

The winner in a press statement: administrative reforms taking place in the Central Bank will help to stabilize the value of the Iraqi dinar and maintain the balance of hard currency sovereign existing cash reserve at the central bank.

He added: change management central bank was required since the period because it failed its policy aimed to stabilize the Iraqi dinar exchange rate against the dollar and the impact occurred money laundering drained hard currency, stressing if continued central bank to its policy cash prior to Turn dinar downward in front of hard currency, thus affecting economic activity of the country.

And stated: that the measures being taken to the Central Bank by the government will maintain the value of the dinar and perhaps raised during the coming period, which will impact positively on the overall activity of the national economy 

http://alrayy.com/66334.htm