8-29-2012 Katie45: The advisory committee for the WTO did tell Iraq to get the dinar closer to the USD. I found the quote. "The Committee called for reducing the difference between the U.S. dollar and the Iraqi dinar, activate the role of the private sector, open the world markets in Iraq with customs on imported goods that commensurate with the economic laws applied in the country.
The net that "the World Trade Organization were previously wary of government plans to support the Iraqi dinar, and elevate it to a value of U.S. dollar and the high differential cash between them," he said, adding that "Iraq has a good capacity to support the Iraqi dinar, which is qualified to be a member of organization that will support the trade in the country in a clear and consolidates the efforts of the government in the development.
Read More Link On Right
8-29-2012 Dontlop: In my opinion all exchanges will be through bank deposits at the end of each work day. When they make their morning withdraw it will be in new dinars and citizens would be able to also exchange their currency at the banks.
I'm not sure clerks will be making exchanges unless they are bank clerks. The clerk may give back change in new dinars, if they have equal value. If they hand a 25k note for a 5 dinar pack of smokes, the clerk may give the customer change of 20 new dinars or two 10k notes back as change.
I don't think they will be giving 24 thousand nine hundred ninety five dollars in new dinars back. Those clerks would need wheelbarrow loads of currency to open up each day.
8-29-2012 9 Year Investor: I used the 2011 annual bulletin to do some research on May and June YOY M2. Figures in Billion ID. May 2011 broad money (M2) - 59,602. June 2011 broad money (M2) - 62,322. May 2012 broad money with 19.5% YOY growth - 71,224. June 2012 broad money with 13.6% YOY growth - 70,798.
This indicates a decrease from May 2012 to June 2012 of 426 Billion ID. Again I used the annual bulletin (table 17) found on the CBI website. I believe this is the best way to determine the current M2.
Feel free to read the annual bulletin and check my numbers. 426 billion in one month is very good, at least it is going down. I am not sure how they said 12 trillion dinar was take off the streets.
8-29-2012 Tedro: There are going to be a lot of "eyes" on this committee including the UN. Which hopefully means a successful conclusion/solution soon. "2007 bill to become basis for Iraqi oil and gas law (HCL).
A committee assigned by the presidency of the Council of Representatives is due to choose one from the three proposed bills as the basis for the law. The UN will watch the committee while performing its mission so that there are no interventions."