Aug. 15 (Bloomberg) — Turkey’s lira climbed against the dollar after central bank Governor Erdem Basci said the currency was undervalued and a rapid solution to Europe’s debt problems may drive the lira higher.
The lira strengthened as much as 0.9 percent after Basci’s comments and traded 0.5 percent stronger at 1.7692 per dollar by 5:12 p.m. in Istanbul, gaining for a second day and trimming this month’s loss to 4.6 percent. The currency headed for its strongest close in almost a week.
The change may seem minuscule. But for those who follow China’s currency, 0.8% is practically a bonanza.
That’s how much the Chinese yuan has appreciated against the dollar in the last week, its fastest pace in almost a year.
Monday showed no signs of slowing down as China’s central bank set its so-called parity exchange rate at 6.395 yuan for each dollar, giving the Chinese currency a value of 15.64 U.S. cents, a record high. (The bank sets the rate in the morning before every currency trading session and allows the yuan to strengthen or weaken 0.5%.)
Read More: http://latimesblogs.latimes.com/money_co/2011/08/chinese-currency-yuan.html
Vietnam's bank notes
VietFinanceNews.com – The State Bank of Vietnam plans to increase the value of the Vietnamese dong against the US dollar over the next four months in a bid to protect the value of the domestic currency, State Bank Governor Nguyen Van Binh told Sai Gon Economic Times this week.
“Since February, the real value of Vietnamese dong has risen slightly,” Binh said.
“If necessary, the central bank will consider further adjustment of the exchange rate,” he added. “The primary target of foreign exchange policy is to stabilise the dong and keep it under control, not to fix it. Confidence in the domestic currency has been fading and we must immediately restore that confidence, which is vital to economic stability.”
Binh advised the public that holding onto the dong was the best policy to keep people from flocking to invest in gold and to reduce dollarisation of the economy.
Sulaimaniya, August 15 / August (Rn) – A member of the Commission on oil and energy in the Iraqi Council of Representatives, that the proposed oil and gas law by a number of deputies to the committee is the perfect solution to the problems that plagued Iraq in this regard, pointing out that the proposed law displays with full powers to grant ad hoc committee, the field of oil in the country.
Said Bayazid Hassan, told the Kurdish news agency (Rn), that “60 members of the Iraqi Parliament submitted in the earlier proposal of the law of oil and gas to the oil and energy in the Council,” adding that “the proposed law is the best solution to the problems that plagued Iraq in the oil and gas. “
Confirmed the Iraqi List, Monday, that the conditions set by the National Alliance before the Council of strategic policies is a block to pass and ratify the Council of Representatives.
The National Alliance has described most of the articles of the Law Council policies “extraordinary constitutional violations” can not be accepted for it affects the Iraqi constitution, noting that 80% of the items of the draft law violates the Constitution will be voted on as the current passed in the House of Representatives.
08/14/2011 18:30
BAGHDAD / Aswat al-Iraq: Deputy for the National Alliance Mohammed Chihod, Sunday, the National Alliance candidate Ibrahim al-Lami is the front-runner to take over the portfolio of the Ministry of Interior of the alliance between the four candidates.
He also explained Chihod told (Voices of Iraq) that “the National Alliance has four candidates to the Interior Ministry are Tawfiq al, Farouk al-Araji, Ibrahim al-Lami,” noting that “Ibrahim al-Lami is a favorite among the nominees for the interior ministry.”
The latest daily currency auction was held in the Central Bank of Iraq on the 15-AUG-2011. The results were as follows:
| DETAILS | NOTES |
| Number of banks | 19 |
| Auction price selling dinar / US$ | 1170 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 124,342,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 124,342,000 |
| Total offers for selling (US$) | —– |
08/14/2011 17:43
BAGHDAD / Aswat al-Iraq: According to spokesperson for the coalition in Iraq Maysoon al, Sunday, that there are a number of articles in the law of the National Council of the Supreme policies do not fit with the Constitution, there is nothing wrong that was amended, noting that Aúnlav Iraq has no problem in this matter.
Said Damluji told (Oassoat Iraq) that “there are issues in the law of the National Council of the Supreme policies must fit with the Constitution and a number of articles needed to be amended to fit with the Constitution there is nothing wrong that was amended we are not a problem we have in this matter,” indicating that “the draft the law now in the parliamentary legal committee and they will receive all the notes of members of the House of Representatives of the law and submit them for consideration on second reading by the date to be determined. “
A number of experts that Iraq is affected by transactions the dollar zone, pointing to high levels of inflation in it.
The appearance of Dr. Mohammed Saleh, the deputy governor of the central bank: that the Dollar affect the trading countries, representing the dollar zone such as Iraq, one of the countries that deal in dollars through trading oil, which supposed to be neutral, where he gave the subject a shadow on the prices of food entering the country, especially that Iraq is one of the countries most dependent on imported goods, and that 38% of industrial materials enter through the import, which led to the existence of so-called imported inflation.
Baghdad (where): President signs National Alliance Ibrahim al-Jaafari to be resolved file security minister after the holiday Eid al-Fitr. He told all of Iraq [where] that “there are intensive efforts are being made between the Iraqi List and the National Alliance to resolve a security ministries if there names were and can be deducted this file after the holiday Eid al-Fitr.”
He added that “the resolution of a file cabinet security will be the fruit efforts and meetings of leaders of political blocs during the last term. “
15/08/2011
Governor of Baghdad, demanding representation in the provincial policies like the Kurdistan Region
National Alliance put three conditions to pass the law of the National Council for the strategic policies in the Supreme Council of Representatives.
And held a regular meeting of the National Alliance, headed by Dr. Ibrahim Jaafari, head of the coalition presence of Prime Minister Nuri al-Maliki and representatives of all political blocs rallying under the banner.
A statement from Jaafari’s office: “The meeting discussed the most important issues in the political arena, and agreed to the enactment of the National Council of the Supreme policies in principle provided they do not breach the terms of the Constitution and preserve the principle of separation of powers and ensure that no looting of the powers of the state.” (more…)
It is expected that the gas company Basra, a joint venture company Shell, the sale of dry gas from oil fields in southern Iraq to the South Gas Company’s state-run rate is linked to fuel oil and can be compared to current prices in the United States and then sells to the South Gas Company for a fraction of the cost, as evidenced by a formal agreement of the summary obtained by Reuters.
After lengthy discussions about price, submit the final version, which was signed last July by Baghdad and the company Royal Dutch Shell Company and Mitsubishi to the developers of the project, estimated at billions of dollars selling prices more attractive than is available in most countries of the region.
At the same time, ensure the Convention to provide cheap fuel to power plants in Iraq, which desperately needs to fuel.
