Thread: Iraq/Dinar News up until April 10th 11pm ctz

Originally Posted by Mike5200

of a decline in prices under the Central Bank

April 7th 2007 Expected expert at the Central Bank of Iraq Majid nominal decline in the price level under the CBE raised the value of the Iraqi dinar against the dollar.
He said the picture "that requires a period of time estimated at the end of the current year, pointing out that the insistence of traders on current prices very natural."
He added "that the reality will be many traders on the domestic market to cut prices after the supply of goods and commodities, according to the new prices commensurate with the rise in the value of the dinar.
Pointing to the citizen to contribute to this equation through consumer awareness and waiting for an opportunity to decline and postpone part of the requirements and needs are not pressing.

Anyone want to take a stab at what this means???

Sort of sounds like they did have a secret meeting and revaled possibly? Also, if that's what he's saying, it also sounds like they will keep it at that level for the rest of the year.

does this mean that they are Rvalued but we won't find out till the begining of the Year08? will there be an announcement Of a RV and will it go on the forex market??? I am becoming more and more confused. ----Will we be able to exchange any of our Dinar at a profitable gain before the end of the year?? Please enlighten me on these questions.

Published: April 9, 2007 at 11:01 AM E-mail Story | Print Preview | License

WASHINGTON, April 9 (UPI) -- There is a limit to what the International Monetary Fund can do to ensure global prosperity, the IMF's head cautioned Monday.
In a speech at the Institute for International Economics, IMF Managing Director Rodrigo de Rato argued that there are fewer risks to the global economy now than there were six months ago, but there is greater awareness of the uncertainties that continue to loom.

Rato also acknowledged that while hopes may be high for the IMF to give sound policy advice to get economies worldwide back on track, there are limits as to what the international agency could do in bringing global economic stability.

"The Fund can advise, but we cannot and should not dictate to our members on the choice of their exchange rate regimes, their intervention policies, or their exchange rate levels. Indeed, in a world of globalized financial markets, there are limits to what countries can do to influence exchange rate levels," he said. "The days when a group of finance ministers could sit in a hotel room and decide currency values are over."

Originally Posted by bob1940

does this mean that they are Rvalued but we won't find out till the begining of the Year08? will there be an announcement Of a RV and will it go on the forex market??? I am becoming more and more confused. ----Will we be able to exchange any of our Dinar at a profitable gain before the end of the year?? Please enlighten me on these questions.

No, if they DID revalue the currency, then the rumor has it being announced this Thursday and the article sounded like it would stay at that rate until the end of the year.

Originally Posted by cigarman

No, if they DID revalue the currency, then the rumor has it being announced this Thursday and the article sounded like it would stay at that rate until the end of the year.

Here comes 1260..... We'll see on Thursday.

Originally Posted by Inscrutable

Here comes 1260..... We'll see on Thursday.

Hope Not!!!! Hoping for at least a nickel. Like you said, we'll see on Thursday.

Originally Posted by Inscrutable

Here comes 1260..... We'll see on Thursday.

"nominal decline in the price level"

I hope they mean better than 1260 from that statement, that end of year statement though has me wondering, another 8 months?

Originally Posted by Inscrutable

Here comes 1260..... We'll see on Thursday.

am i missing somthing? what is thursday

Originally Posted by cigarman

Sort of sounds like they did have a secret meeting and revaled possibly? Also, if that's what he's saying, it also sounds like they will keep it at that level for the rest of the year.

I agree.

It does sound like this will be the approximate rate until the end of the year, according to this article. Maybe they are talking about a different fiscal year, but I don't think so.

Originally Posted by Inscrutable

Here comes 1260..... We'll see on Thursday.

1260? Link?