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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

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    A financial expert identifies the danger of the “deep state” in the dollar market and talks about 3

    Rocky
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    financial - A financial expert identifies the danger of the “deep state” in the dollar market and talks about 3 Empty A financial expert identifies the danger of the “deep state” in the dollar market and talks about 3

    Post by Rocky Thu 04 Jan 2024, 1:58 pm

    A financial expert identifies the danger of the “deep state” in the dollar market and talks about 3 pressing factors
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    Baghdad today - Baghdad
    Today, Thursday (January 4, 2024), financial expert Saleh Al-Bankari identified the danger of the deep state in the parallel market for the dollar, while pointing to 3 “pressuring” factors on price fluctuations.
    The banker told "Baghdad Today", "The fluctuation of the dollar exchange rates in the parallel market recently is due to three direct pressing factors, and is centered on the Central Bank's measures to limit smuggling and launch its electronic platform, in addition to the US Federal Reserve sanctions file and its handling of economic conditions."
    He added, "The third factor lies in the government's dealings through adopting the electronic payment file," pointing out that "the dollar has not witnessed any real pressure in recent months in terms of demand, especially with the Sudanese government's decision to stop the budget with the approaching elections of December 18 to prevent its investment in... The promotional dimension by the candidates.
    The banker pointed out that "the political scene, in its internal and external aspects, and the events surrounding the region constitute the most dangerous factors for the parallel market in the country, noting that there is no complete control over the border crossings with all their addresses to limit smuggling."
    Regarding the dollar in the parallel market, the expert said, “The parallel market is subject, in one way or another, to the control of the deep state, referring to very influential parties who are behind the series of speculations that took place in the past months in order to reap more profits.”
    He continued, "Restoring confidence in banks and the general economic situation is a step in the right direction," pointing out that "modernizing the banking sector and adopting modern frameworks will help stabilize the currency market and give strength to the dinar, especially since electronic payment is very important in multiple directions."
    Yesterday, Wednesday, the Parliamentary Economics Committee revealed those involved in the fluctuation of the parallel market in Iraq, while indicating that the “dollar traps” are nearing their end.
    Committee member Representative Yasser Al-Husseini told “Baghdad Today” that “we are closely following the issue of fluctuations in the parallel market in Iraq, especially after the move to the electronic platform prepared by the Central Bank to regulate dollar liquidity and prevent smuggling, but on the other hand, there are those whose reconciliation with any organization was attacked because He loses his ability to smuggle and manipulate, which prompts him to try to disrupt the markets by various means.”
    He added, "Despite the fluctuation in prices, the coming days will bring greater reassurance for merchants and all dealers in the financial market in terms of the stability of the exchange rate at good levels, especially with the central bank's oversight procedures, which we hope will increase in their aspects."
    Al-Husseini pointed out that what he called dollar traps - in reference to the attempt of some to manipulate exchange rates in the parallel market - are almost over, pointing out that “there are corrupt people who live off market chaos in addition to the trade in contraband, including drugs, which also constitutes a competitor in the parallel market.” Stressing that "the Central Bank's measures will combat the most important threads of liquidity among these people."
    He continued, "The stability of the dollar exchange rate will lead to a decrease in prices in the markets, and this needs some time, indicating that the government's entry into the file of securing materials in the markets will lead to a greater wave of decline in the coming period."
    Since the announcement of raising the value of the Iraqi dinar against the dollar by the Central Bank, local markets have witnessed trading at a rate other than the official price of the dollar, with a difference that sometimes reached 30 points, which necessitated the government and the Central Bank to intervene with measures to limit this phenomenon, but to no avail so far, as... The dollar exchange rate remained high to more than 150 thousand dinars for every 100 dollars in the markets and exchange offices of Baghdad and the provinces.
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