Post From BondLadys Corner
BLC Admin Tlm724 News & Comments 1-10-16 Part 2 of 2
Central bank: no intention to amend the Iraqi dinar exchange rate
09/01/2016 06:05 | Press direction / follow-up The Central Bank on Saturday, the lack of intent to amend the Iraqi dinar exchange rate, pointing out that the devaluation of the dinar would lead to damaging the purchasing power of citizens.
[tlm724] that the devaluation of the dinar would lead to damaging the purchasing power of citizens
[tlm724] and we don't want that !
Stamping the central bank contracted 10 000 gold specie
January 9, 2016 19:33 Iraqi Central Bank revealed his contract with an international company Stamping 5000 specie souvenir gold from 100 dinars category, weighing 15 grams, on the occasion of the 84 anniversary of the founding of the Iraqi Monetary Authority in 1930, in addition to the 5000 specie category 250 dinars, weighing 22 grams, to mark the anniversary of the 68 of the founding of the bank in 1947.
This comes confirmation of his announcement earlier intention to sell gold different weights for those wishing to purchase it from the citizens, and the direct contracting procedures for imported, and then sold through the banking system.
The bank said that the aim of the new coins is the "diversification of public savings and to ensure receiving a 24-carat gold," pointing to the receipt of the first category of these coins weighing 15 grams, which will be put up for sale by banks. "
The statement pointed out that "the sale of the banks price will be determined on the basis of cost, added her administrative Downloads 1% of the cost, to be the price per minted from this category, of which 720 thousand dinars." http://burathanews.com/news/283790.html
[Dogsnova] Gold Gram Price as of 1-8-2016 = $35.51 per gram. Example* 15 grams = $532.65
Note***Gold is also listed in GRAINS...
Raw gold nuggets are typically measured in grain units (1 grain = .002083333 troy ounces). Also keep in mind that roughly 15.5 grains equal 1 gram. The live gold price below is used to calculate the gold grain value (USD):
Gold grain bar calculations use the live gold price for January 08, 2016:
Example* 15 Grains of gold = $34.50
The reason I'm also posting the Grain price of gold is. Just in-case we are lost in translation.
Central bank: address the financial situation is done through the advancement of the real sectors[/size]
09/01/2016 07:35 | Press direction / follow-up
Said the Iraqi Central Bank on Saturday to address the financial situation in the country would only be done through the promotion of sectors "real", as he emphasized that the bank's board is the only body authorized according to the law determining the dinar exchange rate.
The bank said in a statement: "direction Press" received a copy of it, that "address the financial situation must be conducted through the promotion of real sectors," noting that "the Bank initiative to provide loans for the promotion of these sectors was a signal and an incentive for the promotion of these sectors."
The statement emphasized that "the bank's board is the only body authorized according to the law determining the dinar exchange rate and every statement in this regard does not issue him is confusion and confusion to the market."
The prime minister Haider al-Abadi stressed, first on Thursday, that the collapse of world oil prices would be a "force" for Iraq and the "benefit" of stimulating positive, as called for activating the single window in the investment, expressed regret for the decline in palm cultivation in Iraq. http://aletejahtv.org/index.php/permalink/94475.html
[tlm724] there are multiple sources for this statement but I like this one
[tlm724] the Iraqi Central Bank on Saturday to address the financial situation in the country would only be done through the promotion of sectors "real"
[tlm724] these are the things we have discussed repeatedly, growing the private sector and industry, creating jobs
[tlm724] emphasized that the bank's board is the only body authorized according to the law determining the dinar exchange rate.
[tlm724] the CBI has sole discretion over the exchange rate
[tlm724] noting that "the Bank initiative to provide loans for the promotion of these sectors was a signal and an incentive for the promotion of these sectors.
[tlm724] "the Bank initiative to provide loans for the promotion of these sectors was a signal
[tlm724] that would be the launch of the free market initiative, the plan so to speak Wink
tlm724] "the bank's board is the only body authorized according to the law determining the dinar exchange rate and every statement in this regard does not issue him is confusion and confusion to the market."
[tlm724] so all these other members of the GOI and economist publishing their opinions is a determent to the CBI and the government as a whole
[tlm724] *slap* their mouths shut Suspect
[tlm724] the Prime Minister called for activating the single window in the investment
[tlm724] this is the turning point for Iraq and their economic plan, again they are always forced to do things
[tlm724] the economic crisis has forced their hand, the IMF has stepped in and we know the IMF did NOT want Iraq to devalue the dinar anyway
[tlm724] we will have to concentrate on the CBI as I said last week, keep away from all BS in the press when it comes to the dinar exchange rate
[tlm724] my final thoughts are these, even though the economist and the MP's make their opinions known it doesn't matter in the long run ! The government of Iraq including the CBI signed an agreement with the IMF to handle their economy soooo the GOI can bitch all they want to but it won't hold water, IT'S UP TO THE CBI & IMF, there is nothing to fight about because according to the law the CBI has the con !