The exchange rate and the parallel market noise
1/19/2016 0:00
Mohammed Sharif Abu Mayssam
uproar provoked in parallel for buying and selling the dollar market last Wednesday, which resulted in the exchange rate appreciation in less than six hours to around 40 dinars to the dollar gives a very clear indication of the ability of speculators in the recruitment propaganda in order to prejudice the market movement and specifically the exchange rate , which indicates the fragility of the first monetary stability and to wasting in the body of the commercial selection in the market about the rumors and propaganda fluent employed speculators at any time in order to turn a profit or hurt the economy national.
The central bank, quickly lied reports that break into the premises, and stop Operations sell the dollar, stressing the continuation of the currency sale to finance foreign trade and meet the market needs of the dollar, but the fluctuations in the exchange rate has remained between 1250 to 1290 dinars to the dollar, it has not seen the market stable even writing this article, refers to a set of facts that should be recognized them to put processors in particular, and we are embarking on a phase will see more changes in the commercial and financial and monetary reality, and the first of these facts is the case of non-monetary stability, despite the significant attrition in central bank reserves resulting from the sale of the dollar in large quantities every day are not commensurate with oil revenues, if we know The function of the central bank next to his direct supervision on the performance of government and private banks is to maintain monetary stability and by, in order to create a stable climate for local and foreign investments that rely feasibility where a fixed rate in the price of studies of exchange.
It is clear that the beneficiaries of the support selling the dollar at the central auction by the import of goods at a subsidized price is estimated at 1182 dinars to the dollar, do not just huge profits they earn them and following them due to the difference between the subsidized price and the price of the parallel market for imported goods, as well as the value added to the profit margin, as taking advantage of their control and monopoly of the market and they make noise when what they want motives may be suspicious business or in order to damage the situation of stability of other motives leave it to the reader, and remained this case is prevailing since the start of the work of the Central auctions to this day, which means that the monetary stability practical sense will not be achieved as long as the country in a state of political and security confusion and as long as the traders who enter the auction Central are the speculators in order to reap more profits, which calls for the central to search for another way to intervene in the market and achieve monetary stability, if the government and private banks to adopt and more banking offices licensed to sell the currency mechanism Court included the sale of the designated quantity and at a specific price per day for those who have savings in dinars Iraqi banks to ensure not fall into the «dollarization of the market» and damage the banking system based on encouraging savings in local currency, along with the importance of the work of bank credits to ensure go remittances to finance foreign trade in order to stop the attrition in the central reserves, and as long as measures conducive always more noise in the markets as a result tattoo speculators, and the government as long as the past in its austerity and reform, the need for seriousness in the implementation of any measures will be an order of urgency.
We propose here to open the door to volunteers of the Central staff of government and banks to work within a team oversees the application of strict mechanism generally speculators to ease the damage to the poor classes during the next phase, as will experience of the middle class to a decline in its revenues due to adjustments in staff salaries and raise tax collection rates and collection services next to deductions Social Security and withholding support for the displaced folk crowd, what necessarily mean lower demand for luxury goods and entertainment services and non-essential goods rates, along with the importance of pressure on the departments of specialized banks to launch the Central Bank loans amounting to about 5 trillion dinars electronic mechanisms reduce red tape and corruption, after the private banks began firing small business loans supported by the Central also estimated trillion and 200 billion dinars, which means the possibility of meeting some of the local demand for goods, and thus relieve demand for the currency difficult and employment, especially since the application of customs tariff law, will add support for these elements available towards accelerating in finding solutions, but the foot-dragging and lack of seriousness would create a climate of noise speculators and users in order to raise prices, which requires condensation media to guide public opinion of the importance of relying on local product to limit the flow of the dollar abroad and activating the role of the real sectors and sectors chock her which will be placed in the service of the people and the national economy at the same time, and thus can skip to adapt the least damage on condition activating the laws that regulate market relations stage and in the forefront of the competition law and antitrust and consumer protection law and the law of work.
The current stage through which the Iraqi economy that are linked one way or another to the war on pivotal terrorism and corruption together, you need ideas and work hard to get out of the turn of the financial crisis and economic rent to the path leading to economic development as little as possible of losses that can be visited on the poor in favor of the class the bourgeoisie created by the scourge of corruption and financial mismanagement.
[You must be registered and logged in to see this link.]
Today at 7:33 am by Rocky
» The Governor of the Central Bank and the French Ambassador discuss developments in the banking secto
Today at 5:18 am by Rocky
» Al-Bajari: Iraqi companies will have a great opportunity to work after opening the door to investmen
Today at 5:16 am by Rocky
» Transparency: Imports from Sulaymaniyah and Halabja during the past week amounted to more than 10 bi
Today at 5:13 am by Rocky
» Al-Sudani: The delayed projects left great damage to the level of services in Babylon
Today at 5:12 am by Rocky
» Economist: The fluctuation of the dollar is “the balance of speculators”
Today at 5:10 am by Rocky
» {Al-Furat News} publishes the text of Al-Sudani’s request to Guterres to end UNAMI’s work in Iraq
Today at 5:08 am by Rocky
» A former MP accuses Türkiye of transferring its conflict with the workers to Iraq
Today at 5:05 am by Rocky
» A call to the Sudanese to remove American forces from Iraq
Today at 5:03 am by Rocky
» Oil Parliament: Ankara holds Erbil responsible for the oil fines it owes
Today at 5:02 am by Rocky
» The government is silent...the reality of removing American forces from Iraq
Today at 5:01 am by Rocky
» The radiation protection law in the first session of the next legislative term
Today at 5:00 am by Rocky
» A Spanish company raises controversy and a representative reveals a parliamentary movement against i
Today at 4:59 am by Rocky
» Sudanese officially requests the end of the United Nations mission in Iraq / documents
Today at 4:58 am by Rocky
» Because its sessions were not held, the Kirkuk Council faces a judicial complaint, and its members d
Today at 4:56 am by Rocky
» Former US Chief of Staff: We slaughtered huge numbers of innocent people in Iraq and other countries
Today at 4:55 am by Rocky
» The Association of Private Banks counts the percentage of shares traded on the stock market during a
Today at 4:53 am by Rocky
» The European Union and Iraq agree to increase cooperation between them
Today at 4:52 am by Rocky
» American Bank: Expectations to increase Iraq’s oil capacity in 2025
Today at 4:50 am by Rocky
» Central Bank Governor to the French Ambassador: The plan to restructure government banks will change
Today at 4:48 am by Rocky
» Integrity confirms working to conclude a memorandum of understanding with the Kuwaiti Anti-Corruptio
Today at 4:47 am by Rocky
» Highlights of the Prime Minister's visit to Babylon
Today at 4:46 am by Rocky
» The Minister of Transport discusses with a Turkish delegation the latest developments in the develop
Today at 4:44 am by Rocky
» Free of charge.. Issuing approximately 13 thousand unified cards for those covered by social protect
Today at 4:42 am by Rocky
» A parliamentary committee advises the government to deter trespassers: Slums are one of the reasons
Today at 4:41 am by Rocky
» Embassy Protection confirms to “Baghdad Today”: The missions are safe and we have taken proactive me
Today at 4:38 am by Rocky
» Water resources resolve the controversy of the “Wadi Al-Tea” project.. It will nourish the Hamrin ic
Today at 4:37 am by Rocky
» After approving the National Security Strategy...a parliamentary movement to host “responsible” figu
Today at 4:36 am by Rocky
» Al-Hakim calls for the distribution of plots of land to the families of the martyrs of the Popular M
Today at 4:34 am by Rocky
» Order 160 Committee completes the “port scandals” papers... and searches for a legal outlet for impl
Today at 4:33 am by Rocky
» It revealed the details of its contract with four companies to complete the census requirements... P
Today at 4:31 am by Rocky
» Egypt, Morocco and Qatar praise the Iraqi Integrity proposal to establish the Arab Law Enforcement C
Today at 4:30 am by Rocky
» The Iraqi Parliament enters its legislative recess and requires holding an “extraordinary” session o
Today at 4:28 am by Rocky
» The Sudanese has not rested since the morning.. He carried out 12 activities and allocated a trillio
Today at 4:27 am by Rocky
» Blinken's agent: Erbil is a strategic ally of Washington in a 360-degree relationship
Today at 4:25 am by Rocky
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
Today at 4:24 am by Rocky
» A leader in the framework: There is no need for early elections...the “legislative” elections will t
Today at 4:23 am by Rocky
» Parliament decides to extend its legislative term by 30 days
Today at 4:22 am by Rocky
» Iraq has the tenth worst economic growth in the world during the last 5 years
Today at 4:19 am by Rocky
» Al-Hakim: The future cannot be mortgaged to volatile oil prices
Today at 4:17 am by Rocky
» It will change the reality of Iraqi banks.. Al-Alaq reveals a plan that enjoys Sudanese support
Today at 4:15 am by Rocky
» MM&C 5/9/24 The Federation of Chambers of Commerce and the European Union discuss cooperation to fin
Yesterday at 9:27 am by Rocky
» MM&C 5/9/24 Customs, security and economic aspects
Yesterday at 9:24 am by Rocky
» Union of Arab Banks: Iraq's environment encourages investment
Yesterday at 6:57 am by Rocky
» Government advisor: Movement to recover bad debts for the benefit of the Iraqi Trade Bank
Yesterday at 6:55 am by Rocky
» The International Development Bank announces the opening of its new branch in Erbil
Yesterday at 6:52 am by Rocky
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
Yesterday at 6:50 am by Rocky
» Budget delay: the cry for help for paralyzed services and disrupted dreams
Yesterday at 6:47 am by Rocky
» Oil: Completion of projects to improve the quality of petroleum products, and others are under imple
Yesterday at 6:44 am by Rocky
» Chairman of the Securities Commission: 3 million shares, average daily trading volume
Yesterday at 6:43 am by Rocky
» Tamim calls on the countries participating in the meetings of the Arab Administrative Development Or
Yesterday at 6:41 am by Rocky
» Parliamentary Endowments: 39 thousand pilgrims, Iraq’s share, and waiving the religious obligation i
Yesterday at 6:39 am by Rocky
» Washington refers to Iraqi legislation that “does not harm” his international presence, and Baghdad
Yesterday at 6:34 am by Rocky
» Deputy: Extending the legislative term depends on sending the budget schedules
Yesterday at 6:30 am by Rocky
» Parliamentary Legal: 88 draft laws on the parliamentary shelf
Yesterday at 6:29 am by Rocky
» The head of the movement denies any Iraqi-American negotiations to remove the coalition
Yesterday at 5:23 am by Rocky
» A deputy expects to resolve the issue of electing the Speaker of Parliament next week
Yesterday at 5:22 am by Rocky
» Obtaining the approval of the Minister of Electricity to fill the energy shortage in Dhi Qar
Yesterday at 5:21 am by Rocky
» Economist on the decline in dollar prices: My time and it will not reach its official price
Yesterday at 5:20 am by Rocky
» The Iraqi Ministerial Council for National Security approves the 2024-2028 strategy
Yesterday at 5:18 am by Rocky
» Mulla Bakhtiar: Nechirvan Barzani's visit to Iran melted the ice between Erbil and Tehran
Yesterday at 5:17 am by Rocky
» Password "78"... Why did the Sudanese government's interrogations and noisy sessions decline?
Yesterday at 5:16 am by Rocky
» JP Morgan forecasts an increase in the oil capacity of Iraq and other countries in 2025
Yesterday at 5:15 am by Rocky
» Turkish Minister of Transport: The development road will cost $20 billion
Yesterday at 5:13 am by Rocky
» The Supreme Committee for Reconstruction and Investment approves a package of strategic projects
Yesterday at 5:12 am by Rocky
» Work: Preparing a unified national strategy to create job opportunities for youth
Yesterday at 5:11 am by Rocky
» The Prime Minister's financial advisor reduces the risks of the budget deficit
Yesterday at 5:10 am by Rocky
» Sudanese announces the signing of an agreement with Japan to finance small and medium enterprises in
Yesterday at 5:09 am by Rocky
» Government Advisor: The Securities Commission represents the governance base for promoting financial
Yesterday at 5:08 am by Rocky
» A unified national strategy to create job opportunities for youth
Yesterday at 5:07 am by Rocky
» A one-week deadline to decide the position of Speaker of Parliament
Yesterday at 5:06 am by Rocky
» Parliament: We coordinate with the competent regulatory authorities to examine medicines
Yesterday at 5:04 am by Rocky
» The Commission suspends the Kurdistan Parliament's voting procedures
Yesterday at 5:03 am by Rocky
» $100 million to localize the pharmaceutical industry
Yesterday at 5:01 am by Rocky
» Increase in external remittances at the Central Bank
Yesterday at 5:00 am by Rocky
» A government advisor reduces the risks of a budget deficit
Yesterday at 4:54 am by Rocky
» Culture: We seek to invest in the stability of the country to advance the tourism sector
Yesterday at 4:53 am by Rocky
» Integrity announces the results of a questionnaire on bribery in real estate registration department
Yesterday at 4:50 am by Rocky
» Parliament comments on Sudanese plan to restructure the government apparatus: It needs radical refor
Yesterday at 4:49 am by Rocky
» The dollar rises again against the Iraqi dinar in Baghdad
Yesterday at 4:45 am by Rocky
» Politician: The government does not deal transparently with the issue of expelling the Americans
Yesterday at 4:43 am by Rocky
» A government bank participating in an accounting project
Yesterday at 4:42 am by Rocky
» Masrour Barzani: The Kurdistan Regional Government has implemented all its obligations and duties
Yesterday at 4:41 am by Rocky
» French Consul: France strengthens relations with the Kurdistan Region
Yesterday at 4:39 am by Rocky
» Studies Center: Sudanese faces the challenges of maintaining sustainable relations with the United S
Yesterday at 4:38 am by Rocky
» “The absence of democracy is not possible.” The federal government remains silent on the postponemen
Yesterday at 4:37 am by Rocky
» Taqadum Party: The absence of the Speaker of Parliament disrupted the general amnesty law
Yesterday at 4:36 am by Rocky
» The file of oil export through Turkish territory is under the control of politicians
Yesterday at 4:33 am by Rocky
» For the sake of the position of president and the budget schedules... there is a preference for exte
Yesterday at 4:32 am by Rocky
» “If you bring the equipment, let’s begin.” Revealing the secrets of Erdogan’s visit to Iraq and the
Yesterday at 4:31 am by Rocky
» Parliamentary moves to approve the Human Organ and Tissue Bank Law
Yesterday at 4:29 am by Rocky
» Electricity embarks on an 11-axis plan to develop the energy sector
Yesterday at 4:27 am by Rocky
» Al-Asadi announces work on legislating a law on occupational health and safety
Yesterday at 4:26 am by Rocky
» Al-Rasheed: Increasing the amount of loans for restoration and maintenance of buildings to 50 millio
Yesterday at 4:25 am by Rocky
» Under the chairmanship of Al-Sudani, Reconstruction and Investment agree on projects related to elec
Yesterday at 4:24 am by Rocky
» Baghdad and Tehran.. New discussions regarding railway connectivity to transport visitors between th
Yesterday at 4:23 am by Rocky
» Immigration: Our plan focuses on the voluntary return of displaced persons and rejecting their house
Yesterday at 4:22 am by Rocky
» An Iraqi trade delegation in Iran to facilitate the export of agricultural crops to Iraq
Yesterday at 4:21 am by Rocky
» Sudanese launches work on the Union Mills Project in Babil Governorate
Yesterday at 4:19 am by Rocky