Thread: Iraq/Dinar News. (before Jan.20,2007)

Al-Attiyah launch an attack on the MPs, who constantly else

(صوت العراق) - 16-01-2007(Voice of Iraq) - 16-01-2007
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بغداد - الصباحBaghdad-Sabah
طالب الشيخ خالد العطية النائب الاول لرئيس مجلس النواب، الكتل البرلمانية بوضع حد لتغيب اعضاء المجلس، وعدّ ذلك ظاهرة خطيرة جداً تسببت في شل البرلمان.Asked Sheikh Khaled al-Attiyah, first deputy chairman of the House of Representatives, parliamentary blocs put an end to the absent members of the Council, promised that very dangerous phenomenon caused Shell Parliament.

وقال العطية في مؤتمر صحفي امس: مازال لدينا العديد من الهيئات المستقلة والقوانين بانتظار اقرارها، فضلا عن ان المجلس يناقش الموازنة لعام 2007 التي تعد الدافع الرئيس لديمومة الحكومةواضاف ان الجهود يجب ان تتضافر من أجل انقاذ العراق من محنته هذه بعد استشراء الارهاب واتساع ظاهرة القتل اليومي في الشوارع.Al-Attiya said in a press conference yesterday : We still have many of the independent bodies and laws awaiting approval, as well as to discuss the budget for 2007 which is the motive to perpetuate President Hakomhuadhav that efforts must be on deck to save Iraq from this ordeal after terrorism and the spread of the phenomenon of widening the daily killing in the streets.
وأكد أن المطلوب من النواب تقدير مسؤولياتهم ويبادرون للحضور بغية المشاركة في اعمال المجلس، مشيرا الى ان وضع الغيابات وصل الى حد لا يمكن معه التبرير او الدفاع، وان 150 نائباً يتغيبون عن جلسات البرلمان لأغراض شخصية.He stressed that what is required of deputies estimate their responsibilities and bent to attend in order to participate in the work of the Council, pointing out that tardiness to the extent that it could be justification or defense, and 150 deputies absent from parliament sessions for personal purposes.
واضاف ان على النائب الذي لا يستطيع التصدي للمسؤولية ان يتحلى بالشجاعة ويتنحى عن الموقع ليسمح لغيره ان يؤدي دوره. وهدد نائب رئيس البرلمان بأن هيئة رئاسة المجلس سستخذ جميع الاجراءات بحق المتغيبين، مناشداً وسائل الاعلام الاسهام في مواجهة هذه الظاهرة.He added that the deputy who could not deal with the responsibility to muster the courage and stand on the site to allow others to lead the session. He threatened that the Parliament Deputy Chairman of the Presidency of the Council Sstekh* all actions against the absentees, appealing to the media to contribute to confront this phenomenon.

Originally Posted by Dinar Duchess

by the time it gets to 1:1 in 2010 there could be a change in currency anyway

Hello everyone. I have a problem with this prediction of the rate moving so slowly over the next couple of years. I don't think that this prediction is valid based on the facts we have seen. First, the CBI has continued to remove large amounts of currency out of the economy in the last few auctions since Jan. 9th. If my math is correct, over 300 million USD worth of dinar. A couple of weeks ago the CBI stated they had 4.6 trillion in circulation. If this is true, then they are approaching a 10% reduction in currency in circulation after that figure was reported. And, they don't seem to be too subtle about it either. Also, they have not sold any dinar in any appreciable amounts since Nov. A great reduction in supply amounting to over three trillion dinar since Nov. A big bunch. This "drying" is being supported by reports from all over the world were dinar is getting hard to get and is much more expensive to the point that the "street" price is ahead of the offical exchange rate. A very unusal situation for most countries to be in. Reports from the street in Iraq indicate that the dinar is selling (when they can find it) for around 950 to the dollar. Yesterday, we recieved our first report that large banks, airlines and corporations were buying large blocks of dinar. So, in effect the dinar is over 11% and individuals in iraq and abroad along with large iorganizations are buying the dinar. It is all supply and demand and it has happenned very quickly. Reduced supply, since the CBI is the ultimate source and they aren't selling, expect the "pools" of dinar out there is get smaller and smaller. Increased demand with many reports of hording and increased buying, this too effects eventual supply. The recipe is one that forces the value of the dinar to increase dramaticly even without a bold adjust. Since by any estimation the dinar is still an undervalued currency expect these trends to continue and expect them to become more interesting as we watch this unfold. Lets hope they continue to remove large amounts of currency from the economy in the next two auctions. Thank You.

1308:1

Nice to see RolClub up and running.

Hopefully Marek gets these boneheads their just punishment!

Now.... back to our regularly scheduled wOOting!!

I agree 100% Mr Knowles.

All this action by the CBI and this is BEFORE the HCL and FIL are enacted.

It'll be interesting to see how the CBI reacts to the implementation of these two laws.

My eyes are on parliament.... Then the real flood gates open.

Originally Posted by Dinar Duchess

by the time it gets to 1:1 in 2010 there could be a change in currency anyway

They're using their currency internationally now so, even if they reprint, they would have to exchange ALL - they can't just say, if you're not the right person/not in the right location, yours is worthless.

They could issue smaller denoms and exchange 1000 to 1 leaving wages the same in dinars but then everybody's current holdings would be devalued - including the government since they've been ordered to deal in dinars. Major construction projects would be bankrupted, major firms would too. And how many investors worldwide including banks?

It really doesn't seem likely.

Originally Posted by Wm.Knowles

Hello everyone. I have a problem with this prediction of the rate moving so slowly over the next couple of years. I don't think that this prediction is valid based on the facts we have seen. First, the CBI has continued to remove large amounts of currency out of the economy in the last few auctions since Jan. 9th. If my math is correct, over 300 million USD worth of dinar. A couple of weeks ago the CBI stated they had 4.6 trillion in circulation. If this is true, then they are approaching a 10% reduction in currency in circulation after that figure was reported. And, they don't seem to be too subtle about it either. Also, they have not sold any dinar in any appreciable amounts since Nov. A great reduction in supply amounting to over three trillion dinar since Nov. A big bunch. This "drying" is being supported by reports from all over the world were dinar is getting hard to get and is much more expensive to the point that the "street" price is ahead of the offical exchange rate. A very unusal situation for most countries to be in. Reports from the street in Iraq indicate that the dinar is selling (when they can find it) for around 950 to the dollar. Yesterday, we recieved our first report that large banks, airlines and corporations were buying large blocks of dinar. So, in effect the dinar is over 11% and individuals in iraq and abroad along with large iorganizations are buying the dinar. It is all supply and demand and it has happenned very quickly. Reduced supply, since the CBI is the ultimate source and they aren't selling, expect the "pools" of dinar out there is get smaller and smaller. Increased demand with many reports of hording and increased buying, this too effects eventual supply. The recipe is one that forces the value of the dinar to increase dramaticly even without a bold adjust. Since by any estimation the dinar is still an undervalued currency expect these trends to continue and expect them to become more interesting as we watch this unfold. Lets hope they continue to remove large amounts of currency from the economy in the next two auctions. Thank You.

Hi the reported 4.6 trillion was a from Nov 2005 according to USAID. Here is a copy of a post I reported in a different forum i wonder what conclusions you might draw from this new found tidbit?:

It’s little revelations like this one here that cause me to smile. Here is a document that admits circulation levels are half the official record for that timeframe [2005]. Possibly the numbers from the record are fudged to keep the nosey at bay? Could they be half the stated record? Plus considering the huge amount of dinar removed over the past few months, well far be it from me to gauge this potential exchange rate level. In light of this it would appear that the good solid numbers of years gone by are not so difficult to reach; no matter what formula you subscribe to.



Ensuring Economic Stability. USAID programs assist Iraq’s Ministry of Finance, COSIT, and Central Bank in meeting IMF requirements. These efforts are expected to return $480 million in the IMF Standby Agreement in December 2005 as well as debt forgiveness of $27 billion from the Paris Club in March 2006. Working with the Ministry of Finance, USAID introduced the new dinar to promote national unity and allow a functioning monetary policy. Currently, 4.62 trillion new Iraqi dinars are circulating.
Connecting Iraq to the Global Economy. The private sector is the engine for sustainable job creation and economic growth. To help guide policy reform, USAID’s Investor Roadmap analyzes constraints to investment. The Investment Promotion Agency, recently established with USAID assistance, will serve as a resource to international investors. USAID worked with the MoF to develop a Competitiveness Study, helping integrate efforts to create a robust private sector that fosters job creation

Untitled

Here is the CBI aggregate record:
http://cbiraq.org/Monetary%20Aggregates.xls

Originally Posted by Hope Full

Brother nawrs55 think that the rise will be fully remotely controlled by the Central Bank and not to a security plan or significant influence over Baghdad. The Central Bank and the assistance of the foreign exchange reserves of the dollar and of (12 billion dollars), almost can improve the value of the Iraqi dinar in stages and the value of 2 dinars or more each meeting auction managed by the World Bank for the sale or purchase of the dollar. The goal of the bank is to reach a balanced price helps to stop inflation and help to improve the living situation of the Iraqi people, and this number may be unlicensed in the current year to 1000 dinars per dollar. In the coming years, in the case of the continuation of the state of inflation, the Central Bank policy will improve the exchange rate of the dinar again, and may have a new goal of close to 700 dinars per dollar, the outlook for 2010 was the price of the Iraqi dinar was very similar to the dollar. I hope that I have answered your question, thank you.
And when will the circulation of the dinar Ae level of forex Iraq and its people deserve more from Head.

I dont know who this person is but notice at the first this is what HE THINKS. So this is just an opinion. Also note that now the exchange rate has increased to 1000 dinar to the US dollar THIS YEAR. And speaks of being equal to the US dollar in a couple of years.... This is just a smoke screen I believe....

Originally Posted by webinvestor

I can't get the link to work. This is someones opinion or based on facts?

Well, if it takes until 2010 then it takes until 2010. Spend 1000 today and reap a million in 3 years - sounds good to me. Problem is they've told the world and who wouldn't do this? The time to adjust the rate is now. I know... we all know and agree but talking common sense over there is like

It is someone opinion at an Arabic speeking forum.

رد: السنيد يتوقع ارتفاع سعر الدينار العراقي قبل منتصف العام الحاليResponse : Al-Sunaid expected rise in the rate of the Iraqi dinar before the middle of this year

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اقتباس:Quote :
أرسل أصلا بواسطةOriginally sent by nawrs55Nawrs55
يعني هذا الارتفاع المتوقع الى 1200في ظل هذه الظروف الصعبة سوف يضل على ماهو عليه رغم تحسن الظروف بعد الخطة خطة بغداد والا سوف يكون تغير الدينار على حسب تغير الوضع في العراق وإذا تغير كيف يكون وهل سيعود الى سابق عهده ارجو الرد من اهل الاقتصاد والمالI mean, this is expected to rise in 1200 in light of these difficult circumstances would lose as it is despite the improved conditions after the plan by Baghdad and will not be changed according to the dinar to change the situation in Iraq and how to be changed if Will would return to normal Please reply from the Economy and Finance

أعتقد اخ nawrs55 ان الارتفاع سيكون بتحكم كامل من قبل البنك المركزي و ليس للوضع الامني أو خطة بغداد تأثير كبير عليه. البنك المركزي و بمساعدة الاحتياطي النقدي من الدولار و البالغ (12 مليار دولار) تقريباً يستطيع تحسين قيمة الدينار العراقي على مراحل و بقيمة دينارين او اكثر لكل جلسة مزاد يديرها البنك لبيع او شراء الدولار. هدف البنك هو الوصول الى سعر متوازن يساعد على وقف التضخم و يساعد على تحسن الحالة المعيشية للفرد العراقي، و قد يكون هذا الرقم في العام الحالي مقارب الى 1000 دينار لكل دولار. اما في السنوات المقبلة و في حالة استمرار حالة التضخم، فقد يبدأ البنك المركزي سياسة تحسين سعر صرف الدينار مرة اخرى، و قد يكون له هدف جديد يقارب ال700 دينار لكل دولار، اما النظرة المستقبلية لعام 2010 فقد يكون سعر الدينار العراقي مقارب جداً لسعر الدولار. أرجوا ان اكون اجبت على سؤالك و شكراً.Brother nawrs55 think that the rise will be fully remotely controlled by the Central Bank and not to a security plan or significant influence over Baghdad. The Central Bank and the assistance of the foreign exchange reserves of the dollar and of (12 billion dollars), almost can improve the value of the Iraqi dinar in stages and the value of 2 dinars or more each meeting auction managed by the World Bank for the sale or purchase of the dollar. The goal of the bank is to reach a balanced price helps to stop inflation and help to improve the living situation of the Iraqi people, and this number may be unlicensed in the current year to 1000 dinars per dollar. In the coming years, in the case of the continuation of the state of inflation, the Central Bank policy will improve the exchange rate of the dinar again, and may have a new goal of close to 700 dinars per dollar, the outlook for 2010 was the price of the Iraqi dinar was very similar to the dollar. I hope that I have answered your question, thank you.

See if this link will work for you. ÇáÓäíÏ íÊæÞÚ ÇÑÊÝÇÚ ÓÚÑ ÇáÏíäÇÑ ÇáÚÑÇÞí ÞÈá ãäÊÕÝ ÇáÚÇã ÇáÍÇáí - ãäÊÏì ÇáÚÑÇÞ ááÃæÑÇÞ ÇáãÇáíÉ

Regards,

it is apparent and has been apparent for quite a few months now that this parliament and government really doesn't have a clue what they should do..not only are they the slowest moving people i have ever seen but half of their parliament doesn't even show up to vote on critical and crucial laws that they need .....i really don't believe that they care if their people are starving or not..and when some are interviewed,they even say that they don't have confidence in their government....its like Bush said...its time for them to s*** or get off the pot....take away some of the big bucks these ministers and parliament people are making and give them nothing.....see how fast they start showing up to vote and to keep their jobs....IMHO....GO DINARS..Pat