Sorry I'm Late, I slept In.
Number of banks 9 -----
Auction price selling dinar / US $ 1352 -----
Auction price buying dinar / US $ 1350 -----
Amount sold at auction price (US $) 11.635.000 -----
Amount purchased at Auction price (US $) 2.150.000
Total offers for buying (US $) 11.635.000 -----
Total offers for selling (US $) 2.150.000 -----
An 8 point drop and a respectable $9,485,000 worth of dinars pulled from circulation. We went from 1360 to 1352. We are now only 6 points away from our magical 1346 IMF mandate. What will happen next? Will we stop at this predetermined number or blow right through it on our way to the next milestone of 1260? I believe and I'm hoping for a continuation to a major adjust where we will get the rate we have all been waiting for. Perhaps something over a 1:1 ratio. Anyway, it's still a good day at the money bazaar, and a great Christmas present from the CBI. Sorry I'm so late with the post, I slept in today !!
Merry Christmas Eve RolClubers !!
1. The dinar to the dollar is down 8 more points today from 1360 to 1352
2. A $9,485,000 (net) worth of dinars, (IQD - 12,823,720,000) out of circulation
3. 9 banks participating.
4. 50th auction since the beginning of CBI's reval plan
5. 85 days into the CBI's reval plan.
6. 2,841,682,597,000 dinars pulled from circulation !!
7. 2,902,500,000 Dinars back into circulation today !!
8. 125 dinar change since Nov 1st (baseline was 1477) 8.463% increase in value of the dinar since beginning of reval plan.
9. 8 point reduction in the rate so far this week. Was at 1360 at the end of last week, 1352 this week.
10. 83 point drop so far in the month of Dec. Ended at 1435 in Nov, now stands at 1352
Vice President of the Federation of Iraqi businessmen told
Economic : Vice President of the Federation of Iraqi businessmen told (morning) : requirements for economic growth
Available we need a body independent investment and new industrial road
Baghdad Yasser incumbent
Through an economist expressed optimism in the possibility of the Iraqi economy to achieve growth, stability and progress of the weapons possessed by the conditions and requirements of development of the availability of technical manpower and capital resources and oil and others.
He said Vice President of the Federation of Iraqi businessmen Bassem Jamil Antoine in his response to a question by Al (morning) on the importance of the new investment law in the activation and development of the economy we need to genuine investors to Amstthmrin speculators to activate various economic sectors and take advantage of this opportunity, which promise valuable for companies that sounded the global opportunities for Ataud twice.
He identified several factors that will be the law already, although it has criticized the law which was drafted without the participation of businessmen in a fingerprint when they are involved in its implementation. He pointed out that foreign investors looked Alidor important for businessmen to believe that the trend is toward a market economy.
Antoine effects in the very important point when called for a new industrial map of the country and the creation of advanced industrial cities in various regions of the country and to provide all the services it supplies electricity, energy, water and other services. He pointed out that the industrial cities of existing backward and Ateke purpose for the advancement of our industrial future.
One of the axioms of activating the investment to provide stability and security situation ... The availability of sophisticated banking system capable of financing large projects and insurance companies capable of ensuring the projects and their owners.
He said, The investment law has done so far, but enough to pass a law on paper ... It must create the appropriate ground in the forefront of the Security Council, where bold foreign investors to invest in Iraq at the time that the Iraqis were close fugitives outside the country.
He added. We need supplements law, notably the composition of the investment. Where there has been constituted, and called for the need to speed up the feed, through the private sector in a number equal to the public sector.
He stressed that the lack of participation by civil society organizations economic impact on economic reality and the Iraqi market would weaken the confidence of investors that there was a market economy.
Antoine also said. "We hope that the Investment Authority, the technocrats not subject to the effects of political forces, an independent body that places the interests of the country's infrastructure before any draft choice and the country as a geographical and earn success.
He alluded to the fact that the private investment law Kurdistan. The way to the implementation of unhindered as global companies preceded the law's flexibility in Kurdistan, with the side Alamoni economic stability is the basic intentions to give the right of foreign investors to buy and own land in return for the privileges granted to the province pointing out the success of other investment requirements, such as the availability of airports in Irbil and Sulaymaniyah, where aid in the movement of investor safety.
He said : More than 2500 companies worldwide are now mostly in Turkish Kurdistan, where the investment opportunity invested successful Asked about the possibility of activating the investment law in the southern provinces enjoyed a good investment environment and a stable security situation to a certain extent. Antoine said : There are areas where significant factor in attracting Kamhafezh Kut, where it has fertile lands and the hands of a cheap and stable security, but added that the determinants of investment due to lack of clarity of vision in this area as well as investors feared kidnappings and looting.
And on the highlights of the activities of the Federation of Iraqi businessmen in the field of marketing investment law, said the federation's vice-president Jamil Jassem Antoine.
The Russian plays a large role in documenting the economic and commercial relations with the countries of the world, especially the neighboring countries, has more than 150 personal businessmen in the exhibition Ghazi Aintab held in Istanbul, where he was an opportunity to establish relations with the Turkish companies resulted in the signing of the Protocols of the cooperation and commercial deals for the import of machinery and equipment and goods, and foodstuffs.
The results of the meetings achieved by the European attend the conference, organized by the Organization Almusiad Economic Commission of the Organization of the Islamic Conference in cooperation with the Fbi in Istanbul, where he was the Union's role in the transfer of the real picture about Iraq and its needs for construction, reconstruction and the word "president of the Mr. Ragheb Blebel maximum effect in drawing the attention of the delegates and achieved good results in explaining the new investment law and the advantages and invited Turkish investors and foreigners to benefit from the law and Ana great opportunity.
He pointed out that the Union and to create and strengthen the links between its members work to establish a business community, and it was hoped that the operation of this company adopts some central markets stalled ... But it has faced some of the dilemmas paralyzed the idea, although it ambitious European future.
As the company to engage in the import tenders to the Iraqi market and the processing requirements of various government departments.
The Deputy Chairman of the European Union to new EU in 2007 as Union intends opening offices and branches of the Union outside Iraq, in Jordan, Syria and the United Arab Emirates after obtaining approvals States official to be the centers to facilitate the tasks of businessmen in their commercial dealings, pointing out that the goal of attracting European businessmen immigrants into the country, but this proposal comes in the framework of freedom of businessmen in the exercise of their activity.
Also working on the transfer of Russian special exhibitions building and the reconstruction of Iraq into Iraq and there is an intention to mount an exhibition with Ukraine after the signing of the economic delegation on a protocol of cooperation with businessmen and merchants and the Chamber of Commerce and the Federation of businessmen in Ukraine.
It is hoped exhibition in Baghdad if the security conditions prevented without Vsigam in Arbil.
He said : aim of this action is to deal between the Iraqi businessmen and foreign companies directly without intermediaries and hold genuine partnership serves the country's economic development and the exclusion of middlemen who empty profits at the expense of the Iraqi citizen.
Perhaps the most prominent Maevcher by the Russian proposal is the inclusion of existing projects old and suffering from depression and the failure of the investment law which was welcomed and supported the parliament and the presidency, introduced in the loss of law and on the question about the eligibility of the Iraqi economy, the privatization of state-owned enterprises said Antoine :
We believe in openness and warn of the transition process indiscriminate forfeit riches of the country and the people and that it had a social impact on the citizens. We call for a balanced approach moderate stages of the transition to a market economy and we must take advantage of global experiences that have preceded us in this regard.
(Antoine said : We must also Ankhadda conditions of the IMF and the World Bank in terms of Amlaouathma but draw useful of these mechanisms and we have economists able to move the Iraqi economy steps towards balanced development.
Moreover, Iraq is not a country hungry busy, but the wealth of material wealth and ancient people and sophisticated. The technical competencies that have had long experience in building the economy and the role seen in the countries of the world and their experiences.
Translated version of http://www.alsabaah.com/