I think I get it now, calin. Here's an article that explains it a little better than the ones from earlier today. Basically, methinks the CBI doth protest too much. A few days ago, there must have been a leak that CBI was about to do currency reform which is where all those articles have been coming from lately. Today, the CBI is denying it, but the cat's pretty much out of the bag at this point.


Kaperoni:
This article implies that the local media was told a few days ago that the currency was changing and it would soon begin. It also sounds like this article is just stating some media got it wrong and said the deletion of zeros and restructoring would begin. And though that is what the CBI can talk about, they didn't say that. If true, that means that the currency will begin to rise very soon.


Central Bank: currency structure and exclusion delete zeros in current time

2013-04-26 Follow the new morning

Counting the Central Bank of Iraq that there is no intention at this time to restructure and delete the three zeros, denying reports in this regard. The Bank said in a statement that "some media deliberated statements about the intention of the Iraqi Central Bank restructuring and deleting three zeros from them», said: «while confirming the Bank that the only reference to declare things like this indicates no intention to restructure the currency and delete the zeros in the moment».

Local media were covered, a few days ago, news that the Iraqi currency structure and procedures deleting zeros which would soon begin, saying that this will lead to the development of international economic and monetary transactions in a new development in the Iraqi currency.

On the other hand, the dollar in the domestic market has risen sharply over the past few days, if the price of the dollar around 1280 was IQD last month at around 1,200. Foreign currency dealers said in Baghdad: the US dollar, rose markedly since early this month, but this height peaked on Wednesday, after a record per dollar 1,285 dinars. At the time of Central Bank seeks through the currency auction for years, to keep the exchange rate of the Iraqi dinar in the currency market, the exchange rate is volatile clear since late last year.

Economist Majid mock said: «regional situations in the region, particularly the situation surrounding Iraq's neighbors, especially Iran and Syria, one of the main reasons behind the dollar recently on Iraqi markets», «Central Bank sales in the form of cash have risen recently over remittances due to the dealings the two cash in trade because of the economic embargo imposed on them.

Mock said that the Bank's sale of $ 100 million a day it would mean the sale of $ 500 million a week and thus there is a $ 26 billion goes to outside Iraq for import ", noting that" most of these sums are smuggled out of Iraq without benefit.

Economist alecs Antoine demand on the dollar than before because the mafias are collecting dollars and smuggled out of Iraq on the pretext of import operations outside of Iraq, stating that "the quantities coming out of Iraq are not commensurate with the amount of goods entering the mechanism.

Antoine adds that "Iraq has five offices for laundering these offices, however, are still below the level in the detection of smuggling hard currency outside Iraq, stressing" all parties must cooperate among themselves whether the Central Bank or border control and customs taxes and fight corruption and increase oversight and internal stakeholders.

The Central Bank says: he seeks through the currency auction for years, to keep the exchange rate of the Iraqi dinar in the currency market, but the exchange rate is volatile clear since late last year The Bank does not provide any explanations for the discrepancy between the price and the price in the local market, although responsible for monetary policy in the country. Including exchange rate policies and the daily meetings of the buying and selling of foreign currency except official holidays the Bank depends on these auctions.


[link to www.microsofttranslator.com]