1-19-2012 Guru Kaperoni chat log “What is the CBI up to?” |
kaperoni: Today’s chat is a “What is the CBI up to?” chat.
kaperoni: I wanted to take a shot at this rate change. I am not an economist, but I do have tactical skills as a researcher and think there are some interesting assessments that can be seen with this rate change. Though somewhat speculative, only time will tell if I am right.
Kaperoni: Article…
kaperoni: The Central Bank raise the price of the Iraqi dinar against the dollar by 3.4% - 19-01-2012
kaperoni: We all know the CBI adjusted the rate of the dinar yesterday. Some .34% (3.4%) as stated in the article title. This is the first time in 3 years that the CBI has done such a thing, and Shabibi has maintained in the marketplace an 1170 to $1 rate. Thought this seems nominal, it may have significant meaning in the Plan. Let’s take a look at a few quotes from this article….
kaperoni: “the Bank worked to raise the prices of the Iraqi dinar against the dollar during the sessions for the sale and purchase of foreign exchange by four dinars and by .34% to up to 1166 dinars to the dollar,”
kaperoni: To the citizen, this is meaningless. We're talking about 4 cents on a $100 purchase at this exchange rate. So, IMO, there is little or no effect in the marketplace. And especially when we know from the previous chat the extensive efforts to “dollarize” the economy in recent weeks. This next quote seems to imply we may be close to the RV…
Click "Read More" on the right to get the full scoop : )
RSS Feed