[purecountry] IMO to have an international rate of 1.16 might prove disastrous for Iraq.
Investors would jump in so hard once they officially opened because they know the rate will go up fast. It would go up within days, possibly much higher than +3 just from supply and demand. They are better off controlling the rate in a managed float and contain their costs. Again JMO
[SolarKing] millionday -Shabibi had said that the exchange rate would come out as a managed float and per their constitution, there can only be a rise or fall of 2% over any given 90 day period. So, how does this play into this???
[booboo] ok what is the diff. in 1.16 and1.16$
[millionday] right i agree -- they have said many times that it will be the highest in the region and also comparable to kuwait
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[wmawhite] millionday ............eitherway,..............it is GREAT that there is movement.
[millionday] i dont see it coming out at less then that before the 90s as we have been told due to common sense and what would happen when it hit the market
[purecountry] agree, would cost them too much in a free float
[millionday] remember there are people that have this as a profession and they would wipe them out knowing where it is going
[millionday] if it goes out in the market at a market rate it is driven by supply and demand and that would drive it fast
[SolarKing] millionday -Please correct me if I am wrong. I believe that there will be an RI first and then it can float and then after the rise and stability, they then have an RV. JMO
[momface] the article came out recently stating that thier cash reserves in the CBI alone can support a 2.50 exchange rate and that doesn't count the 76 billion in DFI fund and the 30 tons of gold or the oil revenue.. Iraq is wealthy and will show it IMO
[larrykn] the one problem I have with shab is that Malki kicked shab out and put his cloney in his place so he can get what he wants, this could change the rate but I think malki wants it to be high so he can please his people and he can stay in office
[millionday] they would be letting many more make a fortune through the currency market on isx
[anonymous1] Booboo if its 1usd to 1.16 iqd that comes out to 0.86 per dinar if its 1iqd = 1.16 usd. That what we get per dinar and its a difference of 400k per million
[anonymous1] 300k per million
[millionday] thats right -- i read it wrong i was wrong in what it was saying
[SolarKing] anonymous1 -Other way around.
[millionday] lets show it again -- my bad
[millionday] In an attempt by the Government to improve the Iraqi currency, intended to delete the three zeros is pricing exchange rate 1.16 against the dollar, the dinar would replace the State budget $ 172 billion dinars, or the equivalent of about $ 150 million,
and the Government is preparing to perform this step with the adoption of the "new dinar" requesting an order from the Central Bank to raise its value gradually down to be equal to the dollar.
[millionday] against the dollar means the dinar against so they are saying in country the prices would be as .86 usd so i dont see that at all at all but we shall see when the lady sings smile
[jimplants] The dinar will be an international traded currency and held by federal reserves as in the ones we are holding therefore i do not see a short period of time to turn them in
[SolarKing] millionday -To me, that makes no sense as that rate will not DE dollarize their country.
[anonymous1] That's to low they can't DE dollarize at 0.86 usd
[LBnFL] millionday This is probably CORRECT, since it makes no sense at all.
[millionday] we could talk about the reasons it should this and should that all night -- as they talked about it for years so we will just have to see -- we arent going to change what they do so we wait to see
[wmawhite] millionday ..it is good to see movement.
[millionday] progress is our best friend smile i wont cry either way lol
[ROBINREDHED] me either
[larrykn] there is no way this will come out a .86 it has to be above a dollar
[millionday] the rate really doesnt matter at this point -- just lets roll
[cookie2] TY millionday
[millionday] larrykn i agree
[anonymous1] I'm pretty sure I'm good with done lol
[SolarKing] My opinion is based on what I have read over the years but, I would be happy as a camel on Wednesday to get .86 per Dinar.
[millionday] let me see what else i have -- brb
[Baxter1243] yep...cash in ten million or so...and wait...
[millionday] SolarKing i agree with you completely hun -- but will be pleased as a camel as well -- smile
[SolarKing] millionday - LOL
[millionday] and i know red agrees smile
[Glory Boy] millionday - Any significance to Sunday night, as far as timing, banks opening back up Monday, etc?
[momface] so th eCBI should not update tomorrow correct?
[larrykn] my thinking is be prepared for all kinds of rate and be ready to act on anyone that comes out
[ROBINREDHED] red does
[millionday] Revealed Sheikh Khalid Al Mulla, Advisor to the Vice President Khodair al, Saturday, for the completion of all procedures for the convening of the national meeting to sign a document of social peace, and that this depends on identifying Day held just who expected him after the holiday.
said Mullah's (Center Brief for the Iraqi Media Network): "All political parties and leaders Aalno admission document social peace launched by the Vice President Khadr Alkhozai that have been recently adopted block the National Alliance.
millionday] Glory Boy i wouldnt be shocked
[anonymous1] Lol I've been ready for a quarter
[millionday] momface correct and i would just go to isx and buy more just saying smile
[momface] ty hun
[millionday] added, that all actions completed on the convening of the national meeting of the signing of the document of honor Social Council, and the remaining is only determine the day of the meeting and we expect to get after the end of the holiday.
continued Mulla, some trying to declare other than the fact through their quest to disrupt the march Wi initiative presented by the Iraqis are not the only things to keep the crisis, but the second party of the country's leaders are all determined to go sign the confidence honor society
[millionday] was Vice President Khodair al has launched a document of honor emphasizes the maintenance of national unity to the Iraqi people and the protection of the national fabric and do not let anyone finding religious discrimination, nationality, religious,
and the adoption of the principle of dialogue way alone to address the problems and the contract that Taatari the march of the political process in the country
[millionday] momface yw all the time
[millionday] now let me find what we had on the laws brb
[millionday] that was the national meeting to sign on the document which is a huge move at this point for Iraq and the international banking law is obviously in place which is huge huge
[momface] millionday so u think this is our last weekend waiting? for all our sanity hahahha
[ROBINREDHED] my sanity is gone
[millionday] i wish i knew that -- dont have a date and a rate
[millionday] robinredhed i hear ya girl
[millionday] Revealed a coalition of state law for that new alliances between the political blocs are subject to passage of the election law, while the Liberal bloc in Parliament confirmed that the law of the most important laws that will be included in the agenda of the House of Representatives after the Eid al-Fitr.
The MP said the coalition of state law, Ihsan al-Awadi's (Position Brief for the Iraqi Media Network), Saturday: The development of new alliances that seek political blocs have ahead of parliamentary elections in 2014 are subject to the adoption of the election law.
He added that the state law did not pre-determined path for new alliances, adding that the political movement continues between the blocks for the purpose of creating lists strong during the next election.
[millionday] And announced the parliamentary legal committee, included the 2014 election law some of the most important proposals to reduce the age of the candidate for the elections and make it 25 instead of 35 years as currently applicable.
In the meantime, MP for the Liberal bloc Jawad al-Jubouri said in a press statement: that the election law of important laws and the House of Representatives will seek to pass after the Eid al-Fitr.
And different powers and blocs on the system and the mechanism of the election in the upcoming legislative elections, where preferably each system, which was used in the provincial elections non-performing province in 2013, a "Saint Lego", while insisting others to change this system, demanding blocks the application of closed-list system and other and moving towards open .
[millionday] >>>>>>>>>>>>>He added, we hope to see the next few days to pass the largest number of laws serve the homeland and the citizen, and bear all sides responsibilities entrusted to them to overcome the challenges facing the country.
The MP for the coalition of state law is useful Albulada has pointed to the presence of more than 14 legally disabled because of political differences unlikely to pass such laws in one basket and not to the agreement of the political blocs.
He said Albulada in a press statement received "morning," a copy of it: that House Speaker Osama Najafi has formed a committee under his chairmanship to follow important laws including the Law on the parliamentary elections and several other laws, pointing out
[millionday] that he was the formation of another committee headed by First Deputy Qusay al-Suhail to follow the laws of contention but the period years have seen the many differences between the blocs about the laws led to the stoppage and not passed.
And political views agree that the differences between the parliamentary blocs in the parliament prevented the adoption of several laws and adversely affected the performance of the House of Representatives, including the laws of "oil and gas, the Federal Court, the Unified Retirement year," and other laws.
[millionday] so the largest amount of laws ever passed is very encouraging and that they are all to serve the citizen -- nice to see so many ready
[millionday] lets us know with the many economic changes and the national and the many laws -- they are serious about something
[millionday] and we have many banks there waiting to implement and move forward now with international banking this will drive the market fast for our bank stocks and theirs
[Baxter1243] are they is session tomorrow...or Monday??
[millionday] that is all we have that concerns us and it is a lot we could look at bombs and ect but no need they are bombing but not as much there we go huge news big whooop whoop cross everything