Thread: Reval April 10th

Originally Posted by Adster

This was posted on the news section. They cannot leave the new Monetary Policy implementation for too long without putting it into practice guys.....

Iraq Banking and Finance Conference
April 4- 5, 2007
Intercontinental Hotel, Amman, Jordan

Banking in Iraq: The 21
st Century Challenge

ANNOTATED AGENDA

The Role of the Central Bank in Implementing Monetary Policy
12:45 – 1:00 DISCUSSION
12:45 – 1:45 pm
PRESS BRIEFINGS (By invitation only)

This is the part I like - do ya suppose that at this briefing the rv will be announced?

Originally Posted by shotgunsusie

do you have a link for this conference fred?? this is what the phone call source was telling me about.

Doesn't have the exact date but states April.
The Peninsula On-line: Qatar's leading English Daily


Riyal peg to stay: Yousuf Hussein
Web posted at: 3/16/2007 8:28:26
Source ::: REUTERS
london • Qatar’s Finance Minister said yesterday that there were no plans to revalue the riyal nor delink it from the US dollar over the next year, further dampening speculation of a revaluation before Gulf states meet in April.

“I am saying I am not going to delink or revalue our currency against the US dollar. That is my message,” H E Yousuf Hussein Kamal said on the sidelines of an investment conference in London. The Minister said he was being asked constantly about plans for the currency and whether there might be a change to the current policy or a revaluation.

“We are thinking about it but it is not today, not tomorrow, not this year, not next year,” the Minister said. Speculation about a region-wide currency revaluation has increased since January after the United Arab Emirates said the six Gulf states could decide in April whether to keep or change their exchange rate regime. Asked if he though the riyal, which is pegged to the US dollar, was undervalued, Yousuf Hussein said: “No.”

Governors of the Gulf central banks are scheduled to meet in Riyadh, Saudi Arabia in April to discuss their proposed monetary union. The monetary union is scheduled to be implemented by 2010. The decline in the value of the US dollar has helped fuel inflation in some of these GCC countries because it drives up the cost of imports in the region where some countries pay for half their imports in euros and yen.


This one says from April 3
Gulf Times – Qatar’s top-selling English daily newspaper - Finance & Business

Originally Posted by Inscrutable

Doesn't have the exact date but states April.
The Peninsula On-line: Qatar's leading English Daily


Riyal peg to stay: Yousuf Hussein
Web posted at: 3/16/2007 8:28:26
Source ::: REUTERS
london • Qatar’s Finance Minister said yesterday that there were no plans to revalue the riyal nor delink it from the US dollar over the next year, further dampening speculation of a revaluation before Gulf states meet in April.

“I am saying I am not going to delink or revalue our currency against the US dollar. That is my message,” H E Yousuf Hussein Kamal said on the sidelines of an investment conference in London. The Minister said he was being asked constantly about plans for the currency and whether there might be a change to the current policy or a revaluation.

“We are thinking about it but it is not today, not tomorrow, not this year, not next year,” the Minister said. Speculation about a region-wide currency revaluation has increased since January after the United Arab Emirates said the six Gulf states could decide in April whether to keep or change their exchange rate regime. Asked if he though the riyal, which is pegged to the US dollar, was undervalued, Yousuf Hussein said: “No.”

Governors of the Gulf central banks are scheduled to meet in Riyadh, Saudi Arabia in April to discuss their proposed monetary union. The monetary union is scheduled to be implemented by 2010. The decline in the value of the US dollar has helped fuel inflation in some of these GCC countries because it drives up the cost of imports in the region where some countries pay for half their imports in euros and yen.

thats goin on right now. i thought possibly it could be this: MECOM 2007 -* Middle East Telecoms & Business Coms Exhibition & Conference

nope, sorry, wrong dates.

If the Kuwati Diner is going up 25% in less than a month is any one buying some now? Or is this a long term increase?

Originally Posted by Inscrutable

Doesn't have the exact date but states April.
The Peninsula On-line: Qatar's leading English Daily


Riyal peg to stay: Yousuf Hussein
Web posted at: 3/16/2007 8:28:26
Source ::: REUTERS
london • Qatar’s Finance Minister said yesterday that there were no plans to revalue the riyal nor delink it from the US dollar over the next year, further dampening speculation of a revaluation before Gulf states meet in April.

“I am saying I am not going to delink or revalue our currency against the US dollar. That is my message,” H E Yousuf Hussein Kamal said on the sidelines of an investment conference in London. The Minister said he was being asked constantly about plans for the currency and whether there might be a change to the current policy or a revaluation.

“We are thinking about it but it is not today, not tomorrow, not this year, not next year,” the Minister said. Speculation about a region-wide currency revaluation has increased since January after the United Arab Emirates said the six Gulf states could decide in April whether to keep or change their exchange rate regime. Asked if he though the riyal, which is pegged to the US dollar, was undervalued, Yousuf Hussein said: “No.”

Governors of the Gulf central banks are scheduled to meet in Riyadh, Saudi Arabia in April to discuss their proposed monetary union. The monetary union is scheduled to be implemented by 2010. The decline in the value of the US dollar has helped fuel inflation in some of these GCC countries because it drives up the cost of imports in the region where some countries pay for half their imports in euros and yen.


This one says from April 3
Gulf Times – Qatar’s top-selling English daily newspaper - Finance & Business

Gulf states not planning forex revaluation: reportPublished: Monday, 19 March, 2007, 08:25 AM Doha Time

RIYADH: Gulf Co-operation Council countries do not plan to revalue their currencies ahead of planned monetary union, a senior official from the bloc was quoted as saying yesterday.
“GCC member states are in agreement not to revalue their currencies before the expected monetary union is set up,” Al-Riyadh newspaper quoted the unnamed official from the GCC Secretariat as saying.
“There is no intention at this stage to change policy on the Gulf currencies’ peg to the dollar,” the official added.
Speculation about a region-wide revaluation reached fever pitch earlier this year after the UAE said Gulf states could decide at a meeting of GCC central bank governors next month to keep or change their exchange rate regime.
The governors of the six central banks will meet in the Saudi city of Medina from April 3.
A senior Gulf diplomat said the meeting looked unlikely to make a decision on revaluing currencies. “The revaluation has not been discussed,” he said in reference to preliminary meetings ahead of the central bank governors gathering.
Only a minority of GCC members are pressing for changing the peg to the dollar, the diplomat said. “Saudi Arabia is strongly favourable to keeping the anchor as it is,” he said.
Hamad Saud al-Sayyari, the governor of the Saudi central bank, said earlier this month there was no intention to revalue the riyal currency.
Saudi Finance Minister Ibrahim al-Assaf said in March he does not expect GCC states to change a system of dollar-pegged exchange rates before they finalise plans for monetary union.
Officials in Kuwait and United Arab Emirates have talked of the need to review exchange rate policy as the dollar weakens against currencies such as the euro.
Meanwhile, Bahrain’s central bank governor was quoted yesterday as saying that the proposed Gulf currency union by 2010 was a challenge, but could be achieved if the member countries acted swiftly.
Rasheed al-Maraj also said his country was not considering changing the dinar’s peg to the weakening US dollar, Asharq al-Awsat newspaper reported.
The GCC states plan to establish a single currency on Jan. 1, 2010. Gulf officials have raised doubts in the past few months about whether the target could be met. – Reuters

i love the way no one commits to anything.

I hear a denial in these quotes. What do they say? A denial, then BOOM........reval!

just to keep score:

we have about 5 rumors for april at several diff rates ranging from .03 to over $1.00. the sources range from god to a friend of a friend. april will certainly be an interesting month...so will may.

Hey Ive got it.. if it dosent rv by or on easter sunday as God told Doc Dave he would give a million dollars.. If I was the Doc i would put one million Iraqi Dinar into an envolope with a note saying hold as long as possible as this will be worth a fortune very soon.. and donate that to the charity God told him to

Originally Posted by steakman44

Hi readytogo he did not mention his source but he has a lot of contacts. I
know one of his contacts works for the Dept of treasury but am not sure where he got his info. He is an astute businessman and we have had several conversations in the past. The thing I like here is HE NEVER MENTIONED A DATE UNTIL LAST NIGHT. I know there is someone else on the forum that gets in on the calls as well but do not remember who it was as this was discussed several months ago.

Thank you Steakman. This makes it even better!

Originally Posted by Pegasus

I hear a denial in these quotes. What do they say? A denial, then BOOM........reval!

That is exactly what I was thinking...Kind of 'talk' they were saying during the most recent reval's (China and Russia).