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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Central bank determines its orientations regarding the exchange rate and the possibility of changing

    chouchou
    chouchou
    chouchou
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    • Post n°1

    Central bank determines its orientations regarding the exchange rate and the possibility of changing Empty Central bank determines its orientations regarding the exchange rate and the possibility of changing

    Post by chouchou Mon Dec 28, 2020 6:20 am

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    Ihssan Shamran, the advisor at the Central Bank of Iraq, determined the bank’s orientations regarding the exchange rate and the possibility of changing it again.

    “The central bank monitors the exchange rates and tightens this in order to prevent instability and hikes in the exchange rate, and there is no intention of the central bank to adjust the exchange rate at a higher value to the dollar against the dinar,” Shamran said in a televised interview.

    He pointed out that “the increase in the exchange rate took place once, and if it was in a gradual way, there would have been instability, an unstable price and concern among merchants and citizens.”

    And that “there are people and banks that have monopolized the dollar after raising the value of its exchange with the aim of speculation, but what happened is that its price decreased and this is convenient for the central bank because it insisted on changing the price for one time and in a gradual manner to create reassurance for the public.”

    He pointed out that the Central Bank is independent, but it is part of the financial and monetary administrations of the state, and it must appoint the state and have previously entered due to late salaries. He advised the state to borrow.

    Yesterday, a member of the Economic Committee in the House of Representatives, Nada Shaker Jawdat, confirmed, on Saturday, that there is a parliamentary tendency to request a change in the exchange rate for a reason related to 3 million Iraqi citizens.

    Jawdat told (Baghdad Today), “The Iraqi Contractors Union, which represents a large sector in the country, and one of dozens of sectors affected by the increase in the dollar exchange rate, confirmed in our meeting with them that 3 million workers will lose their jobs due to the increase in the exchange rate, and expose them to great losses as a result.” that”.

    And she added, “raising the dollar exchange rate pushed all prices up, including the raw materials in which local industries operate,” indicating that “support for the local industry comes through a roadmap that enters in multiple stages and not through a sudden decision, such as raising the dollar and making prices flame in the markets.” .

    “The House of Representatives will press towards discussing the possibility of modifying the exchange rate file after the arrival of the federal budget law,” she said.


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