Millionday News 3/10/15 Part 1
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: WE HAVE LOTS OF WHOOPOW NEWS TONIGHT I MEAN A LOT
Millionday: THE NEWS ROCKS TO SAY THE LEAST DONT MISS A MINUTE
Millionday: WE HAVE SO MUCH ECONOMIC PROGRESS AND NEWS TO LOOK AT TONIGHT THAT YOU ALL ARE GOING TO BE VERY EXCITED - WHOOPOW
Millionday: THE NEWS IS HUGE TONIGHT -- HUGE
Millionday: WELCOME TO NEWSTIME EVERYONE
Millionday: Private banks seeking to strengthen and activate the interbank market between them and government banks under the supervision of Bank Antrza.ozkr president of Association of private banks in Iraq and Wadih Handal that the presence of this market banking sector serves the general and enhances the stability of the exchange rate as a monetary policy of the Central Bank of tools Iraqi.
Millionday: He said in a statement the "morning" that the central bank and through new mechanisms, which recently announced seeks to establish a banking sector enjoyed an economic activity that supported the adoption of the Central provided liquidity to private banks.
Millionday: SO AS WE HAVE SEEN IN THE PAST -- THE GDP DIVERSITY HAS TO INCLUDE MORE THAN JUST THE OIL SECTOR AND IT HAS BEEN WITNESSED THAT THE MARKET IS INCLUDING SO MUCH SINCE THE ACTIVATION OF INDUSTRY AND MANY OTHER THINGS AS WELL –
THIS REPORT IS TALKING ABOUT THE GAIN THAT THE REVENUES WILL PROVIDE FROM THE INTERBANK Market WITH ITS ACTIVATION AND HOW MUCH IT IS LOOKED FORWARD TO FOR THE STABILITY IT PROVIDES FOR THE EXCHANGE RATE THROUGH ITS CALCULATION
Millionday: DIVERSITY CALCULATES FOR THE BANKING INDUSTRY AND ADDS TO THE % THAT HELPS STABILITY -- ITS THAT SIMPLE ---SMILE
carpet: do you think we need the hcl passed to see a RV?
Millionday: THE REPORT DOES NOT BRING IT UP HUN -- WE WILL SEE WHAT ELSE COMES UP IN OTHER REPORTS --
Millionday: The appearance of Mohammed Saleh, on Tuesday, the high dollar prices came as a result of administrative constraints and not because of the weakness of the financial reserves, adding that the Iraqi economy is strong and will not affected by this rise.
Saleh said in a statement the "eye Iraq News", "The main reason lies in the restriction of the central bank in Article 50 of the federal budget for 2015, which provides for the central bank's commitment to allocate $ 75 million for the purchase of foreign currency," adding that,
Millionday: NOTE -- THE CHANGE IN THE PRICE OF THE DOLLAR CAME FROM THE BUDGET -(ARTICLE 50) THAT COMMITS $75 MILLION FOR JUST THE PURCHASE OF FOREIGN CURRENCY ----
WONDERFUL AND NOT UNHEARD OF -- INVESTMENTS IN FOREIGN CURRENCY BY OTHER COUNTRIES HAS PAID OFF IN THE MARKET BEFORE FOR MANY
Millionday: "this matter reduces the flexibility to expand the sale, in other words if it came requests exceed 75 million dollars, the bank will not be able to be covered, thus Alji merchant to the black market. "
Millionday: NOTE -- THIS ARTICLE 50 ACTUALLY REDUCES THE FLEXIBILITY IN THE RATE /PRICE AND ADDS STABILITY -- THIS IS ALWAYS GOOD -- SMILE
Millionday: Saleh added that "the Central Bank has established procedures for the collection of tax and customs tax profit from the merchant in advance, while the foreign currency conversion and this new mechanism," noting that "this mechanism is excellent in achievement and raise tax revenue for Iraq, but at the same time are considered a burden on traders."
Millionday: NOTE -- THE BURDEN THEY ARE REFERRING TO IS THE NEED FOR THE TRADER TO PAY THE TAX AND CUSTOMS IN ADVANCE -- DONT FORGET THAT SOME ARE IN FREE ZONES -- SMILE
Millionday: Saleh continued that "the central bank has a liquidity reserve covers and a half times," pointing out that "the rise in dollar prices is due to administrative constraints and not because of the weakness of the reserve, and a strong reserve but administrative restrictions stronger than he."
Millionday: SO AS WE HAVE SEEN MANY TIMES AND NOW AGAIN SO VERY WELL VERIFIED THAT THEY HAVE 150% OF THE VALUE OF THE DINAR IN RESERVES AND HAVE NO PROBLEM IN HOW THEY FEEL ABOUT THE STABILITY OF IRAQ`S ECONOMY --
jsilveira: How do they figure this a good thing for their traders? OR their customers?
jsilveira: seems inflationary, already
Millionday: THEY HAVE NOT MENTIONED THAT IT IS GOOD FOR THE TRADERS OR CUSTOMERS BUT IT GETS MONEY MOVING FAST FOR IRAQ AND ALSO PROVIDES FUNDS FOR DEVELOPMENT QUICKER THAN IT WOULD NORMALLY BE
wvchsr19: when they say the have 150% of the value of the dinar in reserve; What percentage would they have if it RVs?
wvchsr19: would that percentage go down as the value of the dinar goes up or does it match its increase in value?
Millionday: ALL DATA WOULD BE CHANGED BY DATA ENTRY ALL AT THE SAME TIME AS WITH ANY CURRENCY IN ALL NATIONS -- SO THEY WOULD STILL HAVE 150%
Millionday: The economic and investment commission parliamentary warned of the continuing decline in the exchange rate of the dinar against the dollar, while the central bank has demanded to take swift action to save the Iraqi dinar.
Millionday: NOTE -- THEY HAVE CALLED TO HURRY UP AND SAVE THE DINAR VALUE
Millionday: Said committee member Rep. Najiba Najib told / BD /: that the dollar exchange rate on the rise abruptly during the current period against the dinar, and this is due to the security and economic situation is settled, as well as a decline in global oil prices.
Millionday: NOTE -- FINALLY-----------THE SECURITY--ECONOMIC SITUATION-- AND THE DECLINE IN THE OIL PRICES HAS ALL BEEN SETTLED -- WHOOOOPPPOOOWWWW
Millionday: She added that the continuing decline in the dinar exchange rate means that the local currency and high inflation rates of degradation and an increase of prices in the local markets,
so it has to be from the central bank to take swift action to restore the dinar exchange and save it from degradation rate.
Millionday: NOTE -- THEY ARE SAYING THAT THE POSITION THEY ARE IN RIGHT NOW REQUIRES THAT THE CBI MOVES FORWARD AND WITH A HUGE RUSH TO RESTORE THE DINAR EXCHANGE RATE FOR IRAQ
Millionday: SO THEY ARE SAYING (PARLIAMENT ECONOMY) THAT THEY ARE READY FOR CBI TO MOVE RIGHT NOW AND PUT IN THE EXCHANGE RATE AS CALCULATED-----------
PARLIAMENT IS STATING IT IS TIME TO RESTORE THE DINAR EXCHANGE RATE AND IN A HURRY TO SAVE THE IRAQI ECONOMY, MARKET, AND THE PLAN THAT HAS BEEN PUT IN PLACE FOR ALL AGREEMENTS AND ALL TRADE --
The Shoe: I'm not sure you are correct on your explanation on the 150%. Could you explain again how that is correct? Thank you!
Millionday: CBI STATED IN AN ANNOUNCEMENT THAT SOME WERE WORRIED THAT THEY WERE NOT GOING TO HAVE ENOUGH RESERVES TO COVER THE PLANNED EXCHANGE RATE/DINAR VALUE AND THIS IS NOT TRUE –
THEY ANNOUNCED THEN THAT THEY HAVE 150% IN RESERVES TO COVER THE PLANNED VALUE AND HERE ONCE AGAIN THEY HAVE STATED THAT AS WELL –
SO THERE ARE NO WORRIES THAT CBI WILL NOT BE ABLE TO MEET THEIR GOAL
Road_Kill: "restore the dinar exchange and save it from degradation rate." Does this mean RV as in restore the value and do we know for sure that it means restore to a higher value or could it mean restore to a stable value?
Millionday: degradation ( degradations plural )
1 n-var You use degradation to refer to a situation, condition, or experience which you consider shameful and disgusting, especially one which involves poverty or immorality., (disapproval) They were sickened by the scenes of misery and degradation they found...
2 n-uncount Degradation is the process of something becoming worse or weaker, or being made worse or weaker.
I feel this signals the degradation of American culture.
3 n-uncount The degradation of land or of the environment is the process of its becoming damaged and poorer, for example because of the effects of pollution, industry, and modern agricultural methods.
Millionday: SO THERE IS THE INK OF WHAT IT MEANS --
Millionday: THEY DONT WANT IT WORSE OR EMBARRASSING
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