Experts: Iraqi dinar "at the mercy of the dollar" because of the activation of a basket of foreign currencies
[tlm724] here is Yasiri again ! he sits on the CBI committee
[tlm724] this is imo a letter stating his opinion to the CBI !
[tlm724] Committee called for financial and economic affairs experts in the Central Bank of the need to activate the financial trading by linking the Iraqi dinar to a basket of foreign currencies and not rely mainly on the U.S. dollar
[tlm724] to build a diversified economy and a flexible retractable face economic crises present and future
[rsp1] smart move there...not putting all their hope in the USD...
[rsp1] Stabilize stabilize stabilize!!!
[tlm724] "the central bank has a responsibility shift financial dealings of the monopoly of a particular currency for the stock market to the entry of foreign currencies competition through the activation of its own laws
[tlm724] the need to diversify reserves National from various world currencies in addition to the coins and other metal and gold in particular to support the Iraqi dinar
[tlm724] "choose other currencies represent a basket of global economic must be on the basis of serving the national economy and the movement of trade and mutual investment with countries with an economy strong financial,
[tlm724] and considers this step to enhance the value of the Iraqi dinar
[tlm724] "and that" the movement deal depends on the monetary policy of each country, there are states that allows monetary policy trading of its currency outside its borders
[tlm724] and there are other countries to prevent it, such as Iraq,
[tlm724] which has become a currency is not allowed to be traded externally
[tlm724] but through the development of a national economic plan effective on the ground is an increase of work, production and start-up projects, major development and attracting foreign investment real new order to ensure the support of the local currency in the coming period
[tlm724] "the exchange rate of the currency basket is considered a low-risk and change, there is a currency price declines and other price rises have shown a basket of currencies that it is due to the absence of a monetary unit the Common taken by traders as a basis for calculation, which are in the framework of international payments and this leads us to the identification of the exchange rate and the international monetary system.
[tlm724] Yasiri is communicating here, its time to move away from the USD, get in line for international acceptance of the IQD Wink
[Shredd] A super article and a great resource for seeing why a strong Dinar is needed. Among others, we see the need to step away from the dollar:
"...considers this step to enhance the value of the Iraqi dinar, and reduce the potential risks to the local currency as opposed to linking a single currency as dollar. "
Also, we see a great description of what it will take to prop up the Dinar:
"...Iraq, which has become a currency is not allowed to be traded externally, but not taken to support the dinar in the coming years, but through the development of a national economic plan effective on the ground is an increase of work, production and start-up projects, major development and attracting foreign investment real new order to ensure the support of the local currency in the coming period. "
Lastly, an international monetary system is needed for the Dinar to be included in a basket of the same....
"He pointed out that 'the exchange rate of the currency basket is considered a low-risk and change, there is a currency price declines and other price rises have shown a basket of currencies that it is due to the absence of a monetary unit the Common taken by traders as a basis for calculation, which are in the framework of international payments and this leads us to the identification of the exchange rate and the international monetary system. '"
[Shredd] tlm724 imo, to be included in an international basket of currencies with the market determining fluctuations it's got to be internationally accepted for trade
[campdav] Shredd *hallelujah*
[Shredd] I feel the road to get there has to be short but we will see, the reliance on the dollar is the crutch until then
[Shredd] this still rides on the timing of the project to remove the zeros, that has to come first and is supposed to launch mid year this year
The results of the elections in the custody of the Federal Court since Thursday
[tlm724] also confirmed that the judiciary has completed a review of all appeals submitted to it *hallelujah* we should know the final results very soon
[rsp1] No legal justification for delaying the ratification of the results!
Saadi optimistic trading in the stock market
[tlm724] showing optimistic movement of the Iraqi Stock Exchange,
[tlm724] stressing that the whole has taken all measures and precautions in the event of any emergency
[tlm724] Iraqi market for securities as "normal and good
[tlm724] so despite it all things keep moving
Comprehensive banking axis activity in which Lebanese banks
[tlm724] there is openness and expansion of another Lebanese banks in Iraq
[tlm724] believes also that the possibility of Lebanese banks to contribute to the development of the banking market of Iraq and in the three area
[tlm724] the development of techniques banking business in Iraq, including systems work and systems and branch network covering parts of Iraq's
[rsp1] Showing them Iraqis how to do banking!!!
[tlm724] so the Lebanese Banks are partnering with the Iraqi banks , integrating their system with Iraqs, bringing into compliance as far as the operating system
[tlm724] the development and modernization of banking services many needs of the Iraqi market, which we launched it
[tlm724] hinting saying we are seeking to actually develop banking relationships not only within Iraq but rather between Iraq and abroad
[tlm724] they are holding Iraqs hand and introducting them to the world !
[tlm724] leads to the actual contribution to the development of Iraqi economy in various sectors of the most promising in the re-Aamarotttaiwir infrastructure of the country
[tlm724] third area to prepare the banking cadres qualified enough and loud where he sees Francois that the success of the banking business is based in a balanced manner on the administration and regulation on the one hand
[tlm724] Iraqi bankers receive their training at the headquarters major Lebanese banks
[tlm724] at the conclusion of his speech that banks Lebanon did not go to Iraq to engage in a bidding foreign currencies but for comprehensive banking service of the Iraqi economy and the market and for what is kept and much deeper than tenders transient and limited and temporary