R.V. / GCR March 6, 2015 at 11:00am Market conditions show favor of having had an Rv/GCR
Dr. Mark March 6, 2015 at 10:37am Experts: <<Central >> Faces the problem of the shortage of foreign currency. 3/6/2015
Experts in economic affairs said that Iraqi banks began to suffer a shortage of liquidity in foreign currency (dollar), while the expected rise in the dollar's exchange rate against the devaluation of the dinar as a result of stopping the auction currency, grumbling banking customers of non-receipt of money deposited by the dollar, stressing that handed over the money Dinars expose them to significant losses.
The expert in economic affairs Ahmed Fahmy said the decision to stop the currency auction can be exploited in a positive way by the Central Bank and the Iraqi government, noting that the implementation of the resolution correctly is not easy, because we must limit the dollar and not to take it out of the market and thus strengthen the Iraqi dinar.
Fahmi said the decision by saying that the central bank can be applied properly in the event of the spending pressure and reduce the affidavits and incidentals are not to the dollar significantly.
He pointed out that the Central Bank has established appropriate plans for the success of the decision, but he also said that to stop the auction may have significant disadvantages, due to increased demand for the dollar, because the bank had pumped $ 50 million a day in the auction, which may make the dollar rises against the dinar, What leads to the Iraqi currency affected significantly.
He pointed to my understanding that the main objective of this step is to limit the hard currency by the central bank, especially after twice the price of the dinar during the past few days, and expected to decline the central bank for its decision in the case of the Iraqi economy negatively affected due to stop the currency auction.
In the same vein, said an expert on economic affairs Maytham Laibi that banks take such measures in emergency situations when facing a shortage of liquidity in foreign currencies, indicating that the Iraqi banks started having these problems because of the reduction of central bank sales of the dollar.
He also added that the lack of distribution of financial dollar amounts have negative effects on customers and lead to an imbalance in the banking system, and weakens the confidence of individuals in the banking system and generates a panic, and lead to significant financial withdrawals, so the reserves become inadequate, especially since these banks operating funds of others do not possess that money, which leads to lack of stability of the market, in addition to a state of non-confidence in the banks leads to citizens not to deposit their money in banks in the future.
He called Laibi banks dealing in foreign currency to reassure its customers, it can Tkst amounts customers, and that the money owed by banks and present possible that the Ptksatha customers.
For his part, Ahmed Atwani expert believes that the sudden decision carries a lot of risk to the Iraqi citizens and the economy in general, indicating that the central bank issued a decision on the pretext of its limited foreign exchange to finance foreign trade.
He Atwani saying that the decision was made to shift from exchange rate policy directed to a free exchange rate policy, stressing that the new policy adopted by the Central does not fit in with the nature of the stage through which the Iraqi economy, because domestic demand for foreign currency (dollar growing) in the local market. He noted that the demand for the dollar will appear in the parallel market for foreign currency, so the increase in cases of speculation and lead to a large fluctuation in the value of the Iraqi dinar, and the transition from the state of stability in the local currency, and this volatility will impact on the low standard of living of individuals through higher commodity prices .
He expert said the decision to halt the currency market will create a huge gap between the prices of locally produced goods and imported goods prices, the central bank will not succeed in implementing the decision in a positive way, but if used in a strict policy controls on foreign exchange
In turn, Mohammed al-Hassani said, the one dealing with the north bank that the bank refused to cash delivery of dollars for clients with the bank on the grounds that the bank no longer receives (the dollar) from the Central Bank of Iraq, noting that the trader with the banks who deposited money in dollars would be a great loss teams currency while receives his money in Iraqi dinars.
He added by saying that the ordinary citizen is the biggest aggrieved of this process, calling on the central bank and the specialized agencies to reverse the decision to cancel the auction currency because of its negative effects on the Iraqi market and citizens. Iraqi Central Bank announced discontinuation of the auction Bank and the adoption of the banking system as being responsible for foreign remittances.
The governor of the Central Bank of the relationship, in a press statement was finalized a new formula and leave the old ways, coupled with certain conditions can not remain governor at the central bank, which has the functions and tasks and activities of a large and important for the national economy, noting that it is not true that the central stays busy selling currency like ATM daily.
BaNDiTo.RoX March 6, 2015 at 11:05am
Central Bank proceed regardless of remittances starting from Sunday
06-03-2015 05:47 PM
Central Bank announced directly to banks regardless of remittances sent to them from next Sunday.
A statement of the Central Bank, received a (news) copy of it, that 'the banks will start regardless of remittances to their customers starting on Sunday, 08/03/2015, after it was complete all the procedures and mechanisms of these banks'.
Newcreation : A statement of the Central Bank, received a (news) copy of it, that 'the banks will start regardless of remittances to their customers starting on Sunday, 08/03/2015, after it was complete all the procedures and mechanisms of these banks'. - See more at: LINK
Starchild : Some news saying the CBI will start regardless of remittances on Sunday -
Newcreation : IRAQIs are celebrating in the streets today, right now...boots on the ground intel
Apaloosa: IRAQ has great reason to celebrate in the streets.......many ISF victories everyday......they are taking their county back. A new independence day.
Maximus016 : This morning on Bloomberg, Mario Draghi, President of the European Central Bank stated that Quantitative Easing (QE) will begin on 9 March 2015.Additionally, Bloomberg reported that all the major banks passed their stress test.
moneytalks1 » March 6th, 2015, 11:19 am FRankie!! Frankie,
Report from Canada..LOOK at this!@!@!!! One more week to cook and we are at 1:1 IMO
US Dollar Currency Index (.DXY :Exchange)
Real Time Stock Quote | Source: Exchange
97.64 USD Last Trade
Robdel: WalkingStick, or any other brother/sister….Doesn't this article tell us that they OPENED the budget?
walkongstick :Consultant Abadi: Budget approved the payment of the oil companies or vouchers treasury bonds
March 6, 2015
Confirmed Almscha vnvmbnmnR. Economic prime minister appearance of Mohammed Saleh said that the federal budget for 2015, the current law authorized the Minister of Finance to issue money orders treasury or financial bonds to oil companies operating in Iraq, not to exceed a total of 12 billion dollars.
Saleh said that the general budget for the current 2015 law included the benefits of oil companies and authorized the Minister of Finance, at the request of the Prime Minister or the Minister of Oil, issuing money orders treasury or securities when needed to cover the entitlements of those companies adding that it means that the benefits of oil companies would have guaranteed vouchers treasury or securities pay it, the usefulness of non-specific He said that after a period of Alasaddaria and interest arising from them, Mitroctan the Ministry of Finance, the lack of detail in the budget on them.
Re: Quote “Frank26:i ......... Have been meaning to recognize BACKDOC's Gold concepts because IOO he is with Truth.
But may i add to his post: The Slate of Math in the Budget was recently cleared........... Because Iraq is about to become a ........... BLOOD DONOR.
To the dying economic world ........ To a Coalition within a Basket. There is an unseen Code of Honor here.
As for the 8th? Nope. More so a week after that.”
Backdoc: JUST TO BE CLEAR HERE I IN NO WAY AM CALLING THE INTERNATIONAL RATE ON THE 8TH!
THE 8TH IS WHEN THEY SAY THEY ARE DROPPING THE ZEROS AND ADDING VALUE, RIGHT? SO WE DO EXPECT IT BEFORE THE END OF MARCH SINCE THAT IS WHEN THEY INTEND TO LAUNCH THEIR MARKET ECONOMY!
I THINK SOME FOLKS HAVE MISREAD MY POST, READ DEEPER!
WE WILL SEE VALUE DONE ON THE 8TH BUT NOT FOR OUR EYES YET!!! PLEASE RE-READ CLOSER! BUT SOON! DOC BLESSINGS
Frank26: Maybe a week later. KTFA Frank