Now that was a Good Quote Back...........
Quote:
Originally Posted by
Wm.Knowles
This is a very good point. I think if we had an individual who was about to attend graduate school and needs a ******* thesis or doctoral dissertation in economics, banking, finance MBA etc. they could chart the history of the CBI activities. Their topic might be,
"The establishment of Central Bank operations and its eventual effects on inflation, monetary controls and the eventual reevaluation of the Iraqi currency".
I think once they charted the auction results, they would find that over the history, the CBI was placed far more currency into circulation than they have removed. What we are seeing recently is a dramatic effort to remove currency from circulation in a very short period of time. Something is propelling this recent effort and at this time we can only guess. But what we are viewing is a very healthy effort to remove currency to reduce inflation, place USDs into the local banks in anticipation of an increased demand for USDs (as you might anticipate in case of a RV). And maybe, to begin the process of removing the large denominations from circulation (an opinion).
So lets continue with an anticipation the the CBI auction results in the am will continue to reinforce this position.
No argument are disagreement. Just facts. :ro_emote:
Voices of Iraq :-$ (economy)
Dollar continues to fall against the dinar for the second day in a row
Baghdad - (Voices of Iraq)
The exchange rate of the American dollar in an auction today, Wednesday, the Central Bank of Iraq for the second day in a row and has five dinars worth recording from 1455 dinars from 1460 dinars yesterday.
The American currency had lost five dinars during the meeting yesterday.
The Central said in a statement that demand for the dollar recorded a slight rise, recording 64 million and 960 dollars, compared with 62 million and 540 thousand yesterday.
Such procurement requests made by the 19 participating banks ERA today by 27 million and 350 thousand dollars in cash and 37 million and 610 thousand dollars in the form of remittances bank has full coverage.
Banks did not make offers to participate in the auction to sell the dollar.
دولار-(اقتصاد) :: Aswat al Iraq :: Aswat al Iraq