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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


    An advisor to Al-Sudani accuses "external forces and crisis traders" of being behind the return of t

    Rocky
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    • Post n°1

    An advisor to Al-Sudani accuses "external forces and crisis traders" of being behind the return of t Empty An advisor to Al-Sudani accuses "external forces and crisis traders" of being behind the return of t

    Post by Rocky Sat 11 Feb 2023, 7:54 am

    An advisor to Al-Sudani accuses "external forces and crisis traders" of being behind the return of the dollar's rise
    • Time: 02/11/2023 13:46:11
       
    • Read: 2,353 times

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    {Economic: Al Furat News} The financial advisor to the Prime Minister, Muhammad Shia'a al-Sudani, accused "extraneous forces and speculators" of being behind the return of the dollar's exchange rate against the dinar.
    The exchange rate of the dollar rose this morning in Baghdad to more than 1,500 dinars, while it exceeded this price in other provinces.
    Mazhar Muhammad Salih told {Euphrates News} agency: "There are extraneous forces on the market who seize profit opportunities from speculators and crisis traders in the exchange market who practice speculation in foreign exchange based on artificial information that is traded between parallel markets to achieve speculative profits."
    And that these profits "take place at the expense of the official exchange rate and against the legality of the procedures and arrangements followed by the policy of the Central Bank of Iraq in achieving stability in prices and work at the new official exchange rate."
    He pointed out that speculators were not included "due to the importance of the high foreign reserves capabilities of Iraq and the strength of the Iraqi dinar, which has become the cash issue covered in foreign currency by more than 140%, which is a very high percentage to protect the Iraqi dinar and sufficient for exchange rates and rates to stabilize around the official price of 1,300 dinars to one dollar."
    The Council of Ministers approved in its meeting last Tuesday the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars to one dollar.
    About four days after the government's decision to reduce the exchange rate of the dollar against the dinar, and two days after the Iraqi delegation's discussions in Washington, the dollar's prices did not stabilize in the parallel local markets.
    The rate adopted by the Central Bank of Iraq for the dollar against the dinar, which is 1,300 dinars for one dollar, led to a temporary decrease in the price of the dollar, but it returned to rise to record more than 1,500 dinars, which means that the difference in the parallel market remains from the official price.
    The reason, according to observers, is related to the lack of clarity in the final results of the discussions being held in Washington by the Iraqi delegation, headed by Deputy Prime Minister and Minister of Foreign Affairs Fouad Hussein, and the Governor of the Central Bank, Ali Al-Alaq, with officials in the US administration.
    Raghad Daham
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