Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by lndmn_01

This is the part I was questioning... Anyone???

no clue what yazzmen means, googled it with no help. Translated it to arabic and googled it, still nothing.

I was browsing around the CBI site and was wondering if this document is old info or new info. It is a long document but this section I listed below seems to be where we are now....unless I am reading it wrong??? Just thoughs???

Open Market Operations
The CBI can influence bank liquidity (excess reserves) and thus short term interest rates by buying and selling government securities. Selling such securities to the market from the CBI’s own holding would drain liquidity from the banking system (by reducing bank’s balances in their reserve accounts with the CBI). Buying them from the public would increase banks’ liquidity (i.e., their reserve account balances). Such open market operations (OMO) would provide an important second instrument (along with the foreign exchange auctions) of active liquidity management.
Various strategies for the use of OMO are possible. The CBI might, for example, choose to provide for desired long-term monetary growth through the accumulation of foreign exchange reserves. The monetary effect of higher or lower rates of foreign exchange reserve growth resulting from interventions to stabilize the exchange rate could be sterilized with OMO. Otherwise OMO would be limited to stabilizing bank liquidity and keeping short-term money market interest rates within the tunnel of the CBI’ Credit and Deposit facility rates.
OMO will generally by undertaken on an auction bases with banks. Such auctions will look very much like the foreign exchange auctions now being conducted.
After the government securities market has developed some depth, the CBI will consider introducing purchase/ repurchase agreements (repos and reverse repos) as its primary OMO tool.

http://www.cbiraq.org/monetary%20policy_EN.pdf

Originally Posted by CharmedPiper

I was browsing around the CBI site and was wondering if this document is old info or new info. It is a long document but this section I listed below seems to be where we are now....unless I am reading it wrong??? Just thoughs???

Open Market Operations
The CBI can influence bank liquidity (excess reserves) and thus short term interest rates by buying and selling government securities. Selling such securities to the market from the CBI’s own holding would drain liquidity from the banking system (by reducing bank’s balances in their reserve accounts with the CBI). Buying them from the public would increase banks’ liquidity (i.e., their reserve account balances). Such open market operations (OMO) would provide an important second instrument (along with the foreign exchange auctions) of active liquidity management.Various strategies for the use of OMO are possible. The CBI might, for example, choose to provide for desired long-term monetary growth through the accumulation of foreign exchange reserves. The monetary effect of higher or lower rates of foreign exchange reserve growth resulting from interventions to stabilize the exchange rate could be sterilized with OMO. Otherwise OMO would be limited to stabilizing bank liquidity and keeping short-term money market interest rates within the tunnel of the CBI’ Credit and Deposit facility rates.
OMO will generally by undertaken on an auction bases with banks. Such auctions will look very much like the foreign exchange auctions now being conducted.After the government securities market has developed some depth, the CBI will consider introducing purchase/ repurchase agreements (repos and reverse repos) as its primary OMO tool.

http://www.cbiraq.org/monetary%20policy_EN.pdf

yes, whats been going on at the cbi for awhile now. and all the out of country purchasing of dollars was in exchange for foreign correncies to build up their reserves. did you notice the out of country was minimal at the last auction posted? that indicates they are built up to me.

i would assume the OMO begin with the revalued dinar??

Originally Posted by goldraker

"The bank will maintain Marazi Iraqi on the other tracksin its monetary policy to achieve intermediate goals for reducing inflation and contain inflationary expectations, relying on "stabilizing nominal" cash Aatar Yazzmen rate of the Iraqi dinar against the dollar and boosted the purchasing power of the Iraqi dinar to move across the tracks and cash assistance in inflation targeting."


Woooooooooooooo Hoooooooooooooooooooo

The Yazzmen rate is like 3.67

LINK???

President of the Republic congratulates the Iraqi people by the Eid al-Fitr holiday

October 22, 2006
Here President Jalal Talabani, the sons of the Iraqi people on the occasion of Eid Al Fitr, The following is the text of congratulations :
"I am pleased to come warmest congratulations and blessings to commend the Iraqi people a decent life. asking God to be enjoyed by our people and the surfeit of the finest blessings, Yemen and our security and tranquility and convenience and unites hearts and hands to work together to build a brotherhood and love.
Good Ayamkm and every year you are fine. "

Jalal Talabani
President of the Republic of Iraq

Originally Posted by shotgunsusie

LINK???

Well this is the same article that was posted in the past 24 to 48 hours. This is what there talking about on IDI. The Yazzmen must be a small country.

Originally Posted by goldraker

Well this is the same article that was posted in the past 24 to 48 hours. This is what there talking about on IDI. The Yazzmen must be a small country.

I don't think "Yazzmen" is even a word, much less a country...

Originally Posted by goldraker

Well this is the same article that was posted in the past 24 to 48 hours. This is what there talking about on IDI. The Yazzmen must be a small country.

but where does it say the yazzmen rate (or what ever the name is) is 3.67??

UN Iraq envoy welcomes declaration calling for end to sectarian violence
22 October 2006 – The senior United Nations envoy to Iraq today welcomed a declaration adopted by various religious leaders calling for an end to sectarian violence in the increasingly volatile country, and pledged the world body's support for the initiative.


In a statement issued in Baghdad, Ashraf Qazi applauded the “Mekkah al-Mukaramah Declaration,” calling it a “major step towards halting violence and healing the wounds in Iraq.”


He commended the Organization of Islamic Conference (OIC) for its initiative, which brought together the different religious leaders who endorsed the Declaration.


Mr. Qazi “applauded Iraq's religious leaders who drafted and signed the text of this Declaration and called on Iraqi leaders to commit themselves to the letter and spirit of this Declaration.”


He said that Iraq's religious, political and social leaders have a responsibility to use their influence with all their followers to ensure that the tenets of this declaration were fulfilled as a matter of urgency.


The Declaration noted that the worsening security situation made it imperative that Iraqi Muslims were united against sectarian violence. Mr. Qazi pledged that the UN “stands ready to provide any assistance required to facilitate the implementation of this Declaration.”


Also today, the envoy marked the occasion of the Eid Al-Fitr by extending his “sincere wishes to the Iraqi people and Government for a blessed holiday.”


He reaffirmed the UN's commitment to continued support and assistance for Iraq, consistent with its mandates and Iraqi aspiration for peace and harmony.

UN Iraq envoy welcomes declaration calling for end to sectarian violence

Originally Posted by goldraker

Well this is the same article that was posted in the past 24 to 48 hours. This is what there talking about on IDI. The Yazzmen must be a small country.

Well, the CIA doesn't know anyhing about Yazzmen https://www.cia.gov/cia/publications...ook/index.html

the only country in the world that starts with "Y" is Yemen and their exchange rate is about 192 Yemeni rials to the dollar.