HAT TIP: The Currency News Hound
The reason we wanted to post this article, is that it shows that the CBI has won the attack from Maliki to take it over and “steal” the $65Billion in reserves!
This is FANTASTIC news to us Dinarians, because without that $65B, there will be no RV!!! Dr. Shabibi has done an excellent job of getting Parliment to side with the CBI against Maliki’s recent take over attempt!
(This article is provided with two translations.)
04/15/2012 BAGHDAD / JD / .. According to a member of the Finance Committee’s parliamentary Haitham Jubouri take two steps the Iraqi Central Bank to raise the price of the Iraqi dinar and weighed against the U.S. dollar.
Jubouri said L / JD / “The central bank has taken two steps is to first new controls on the value of the transfer and identify external electronic point of arrival and will go to any country,” and secondly “to keep the bank with $ 65 billion in capital.”
Jubouri and “The Bank to keep the $ 65 billion is a very good capital that would preserve the Iraqi dinar exchange rate, an increase of supply relative to demand in the local markets.”
He said, “The Iraqi market is witnessing the
fluctuation of the local currency and the high exchange rate for foreign currency must be careful in making decisions.” He was a member of the Finance Committee has expressed confidence in the stability of the purchasing power of the Iraqi currency in the coming days. “, Stressing that these precautions have escalated. Said the Iraqi Central Bank in a statement, obtained by (JD) a copy of it”: that some of the journalist community deliberated analyzes marred by a lot of palaces, which indicated that the Iraqi Central Bank’s reserves of foreign currency has decreased during the last few months, billions of dollars.
The central bank said that these numbers or other sales are the result of the dollar to the regular customers of Iraqis and through the daily operations of the foreign currency auction in the past months or years, knowing that the bank’s reserves of foreign currency has not declined but increased during the last period.
He noted that central to the direct intervention of neighboring countries in this auction is baseless and unfounded, although the regional impacts of current left indirect effects on the movements of foreign exchange in the domestic money market.
The Finance Committee of the House of Representatives has warned of the danger of the continuing decline in the exchange rate of the dinar against the U.S. dollar, which arrived during the last few days of 1300 dinars to the dollar, for the first time in nearly four years. On the other hand reduced the appearance of the bank adviser Mohammed Saleh, the risk of devaluation of the Iraqi dinar against the dollar, and said it will disappear gradually forming bubbles.
It is noteworthy: The Cabinet had formed a committee to study the fluctuation of the Iraqi dinar exchange rate in recent times, to provide appropriate solutions and to prevent damage to the economy home
Central Bank to raise the price of paced two-step Iraqi dinar
Baghdad/JD/…Member of the parliamentary Finance Committee take al Haitham Iraqi Central Bank steps to raise Iraqi dinar and balance with the US dollar. He said al-Jabouri l/JD/that “the Central Bank has taken new steps are b first controls on foreign electronic money order value and select one arrival and any State would go,” and secondly “that bank b 65 billion dollars capital”.
And between Al-Juburi said that bank b 65 billion dollars very good capital is would preserve the Iraqi dinar exchange rate by increasing supply relative to demand in the local market. ” “The Iraqi market is fluctuating local currency and exchange rate appreciation for currencies must be careful in making decisions.”
He was a member of the Finance Committee had expressed confidence in the stability of the purchasing power of the Iraqi currency in the coming days. “, stressing that these precautions have escalated. The Iraqi Central Bank said in a statement, obtained by (JD) “: some press circles are many analyses deliberated failures, which indicated that the Iraqi Central Bank reserves of foreign currency has fallen in recent months with a few billion dollars.
The Central Bank said that these figures or other regular sales are the result of dollar to its customers from the Iraqis, through day-to-day operations of foreign currency auction in recent months or years, note that the Bank’s foreign currency reserves have not declined but increased during the past period.
Referring to the direct intervention of neighbouring States in this auction are baseless and unfounded, although the current regional influences left spillover effects on foreign exchange movements in the local exchange market. The Finance Committee in the Chamber of Deputies had warned of the seriousness of the continuing decline in the price of the US dollar, dinar, who arrived during the past few days to 1,300 dinars to the dollar for the first time in nearly four years.
Conversely the Bank Advisor Mohammad Saleh appearance of serious depreciation of the Iraqi dinar against the dollar, and it gradually disappear price bubbles. Recalls: that the Council of Ministers may form a Committee to study the Iraqi dinar price volatility in recent times, to provide appropriate solutions and the prevention of damage to the economy home.