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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


    Following in the footsteps of the Arab countries.. Iraq begins dealing in the Chinese yuan, and an e

    Rocky
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    Following in the footsteps of the Arab countries.. Iraq begins dealing in the Chinese yuan, and an e Empty Following in the footsteps of the Arab countries.. Iraq begins dealing in the Chinese yuan, and an e

    Post by Rocky Thu 23 Feb 2023, 4:06 am

    [size=35][size=35]Following in the footsteps of the Arab countries.. Iraq begins dealing in the Chinese yuan, and an economist reveals the feasibility[/size]
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    Economie

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    2023-02-23 | 03:35
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    Alsumaria News - Economy

    An opportunity to diversify monetary reserves and reduce dependence on America's hard currency. Iraq has begun to think seriously about financing Chinese foreign trade through the "yuan" currency, a step that may be in the right direction. Is Iraq able to get rid of the "dominance" of the dollar?


    The [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url] provided a new package of facilities to obtain foreign currency to achieve stability of exchange rates in the Iraqi markets, including organizing the financing of foreign trade from [You must be registered and logged in to see this link.] directly and in the Chinese yuan currency.






    Yesterday, Wednesday, the media office of the Central Bank stated, in a statement received by [url=https://www.alsumaria.tv/Entity/133473/%D8%A7%D9%84%D8%B3%D9%88%D9%85%D8%B1%D9%8A%D8%A9 %D9%86%D9%8A%D9%88%D8%B2/ar/]Alsumaria News[/url], that “in addition to what was announced in the first package of facilities provided by the Central Bank to achieve stability in exchange rates, the second package will include the following: 1- Foreign trade financing will be organized

    from [You must be registered and logged in to see this link.] directly and in the Chinese Yuan currency through two options:

    a) The first option: strengthening the balances of Iraqi banks that have accounts with Chinese banks in the Chinese Yuan currency b

    ) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the final beneficiary in the Chinese Yuan currency through Our accounts are with JPMorgan Bank and the Development Bank in Singapore
    Economist [url=https://www.alsumaria.tv/Entity/3517594793/%D9%86%D8%A8%D9%8A%D9%84 %D8%A7%D9%84%D9%85%D8%B1%D8%B3%D9%88%D9%85%D9%8A/ar/]Nabil Al-Marsoumi[/url] explained the feasibility of dealing in the Chinese yuan when dealing with foreign trade with Beijing.

    Al-Marsoumi said in a post on the “Facebook” page, which was followed by Al-Sumaria News, that “the [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url] announced, yesterday, Wednesday, that the organization of financing foreign trade with [You must be registered and logged in to see this link.] will be directly and in the Chinese yuan,” noting that ““[You must be registered and logged in to see this link.] began diversifying its cash reserves five years ago.” But the dollar prevails because oil revenues are in dollars and he has only a few Chinese yuan.

    He added, "As [You must be registered and logged in to see this link.] is trying today to restore the value of the dinar through a strategy that is now being followed by other official banks in the Middle East. Providing other foreign currencies for local dealings besides the US dollar.

    The economist stressed, "Many countries have begun to take the same steps that the [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url] is taking, and others have already begun to implement them, as Saudi Arabia issued a decision that includes obtaining the Chinese yuan instead of the dollar in exchange for oil sold to [You must be registered and logged in to see this link.], while Egypt decided to replace the security bonds with the yuan currency." instead of dollars.

    Al-Marsoumi stated: "As long as oil is priced in dollars and as long as oil exports dominate Iraqi exports in light of the complete disappearance of non-oil exports, it is impossible to liberate from the US dollar, as [You must be registered and logged in to see this link.] needs the dollar in the end to obtain the yuan."

    He continued his speech, saying: "Therefore, [You must be registered and logged in to see this link.]'s reliance on the yuan to finance its foreign trade with [You must be registered and logged in to see this link.] through the US JP Morgan Bank and the Development Bank in Singapore will not change anything and it will remain captive to the dollar."
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