6-16-2015 *Kaperoni ~Article: "The central bank to take new action to stop the decline of the dinar" Quotes: "decided to consider Saturdays of each week normal working days," noting that "this action will be effective in the day on Saturday the 20th of June the current." & "decided to reduce the deposit period for feeding the external accounts of banks amounts." The bank added that the "reduce the deposit will be from ten days to five days, and as of next July." Well so now we know what the new measures are...they are going to sell on Saturdays and they are going to increase the amount of dollars. It continues to amaze me that for years the IMF tells them the same thing all the time, yet this is about the 5th time over the last 8 years they do the opposite..as if they think they know better and the result is always the same...the market rate slides. There is really no excuse for such poor management of the currency which all started with Maliki interfering.
6-16-2015 *Kaperoni ~I don't know if it would ever happen, but the only person that could instill immediate confidence in the banking system and return the dinar to a manageable rate is Shabibi. But Maliki would have to go first before he would ever consider coming back. Not to mention at his age, he may not want too.
6-17-2015 *Kaperoni ~technically...the dinar could remain weak, but the statements about increasing the value of the dinar are not just words but based on sound merit. Both the WTO accession committee and the IMF have encouraged the dinar to be valued higher. In fact, it was once stated by the accession committee that full accession would not come.."until the dinar is more on par with the dollar." So there is a real sense that the dinar is undervalued and needs to have a correction...getting off the peg and floating the dinar is the best solution to accomplish that.