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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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    German bank: the boycott could end the currency peg Qa

    Rocky
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    Bank - German bank: the boycott could end the currency peg Qa Empty German bank: the boycott could end the currency peg Qa

    Post by Rocky Fri Jul 14, 2017 3:54 am

    German bank: the boycott could end the currency peg Qatar



    In the economy  , July 13, 2017 




    Follow - up / SNG said , "Commerzbank" German, said that the continued boycott of Qatar has been paid to abandon its peg to the US dollar, adding that Iranian territorial waters would harm the use of Qatar 's exports of gas and oil.
    With the entry of cutting ties with Qatar 4 is the state of Saudi Arabia, UAE, Egypt and Bahrain crisis in its second month, the effects of the crisis is exacerbated on several fronts began, especially in relation to the financial markets of Qatar and the exchange rate of its currency.
    He noted the bank "Commerzbank", based in Frankfurt, to "boycott the longer the likelihood increases that the authorities in Qatar , unzip its currency from the US dollar, in order to cope with the pressure, which is the need to Qatar 's central bank intervention constantly, to put pressure on the value of the Qatari riyal, and thus lose Central down foreign currency reserves. "
    He cautioned the famous German bank, in a note quoted by "Bloomberg" to "economic difficulties the small country, which is likely to increase over time , " stressing that " the isolation of Qatar means that the country can only use the territorial waters of Iran to transport liquefied natural gas, which It will affect the export performance. "
    Bank refuted previous claims of the Central Governor of Qatar, he said that in his country 's reserves of $ 340 billion, confirming "Commerzbank" the German report, that " the liquidation of the assets of the investment fund or reserves , Qatar will send a negative signal detrimental to the currency of Qatar."
    The bank also pointed to what he talked about the governor of having $ 33 billion in reserves at the Central Bank of Qatar, saying that it meets the needs of short - term liquidity, warning of "investors worried about the stability of Qatar in the long term."
    Qatari Riyal situation abroad ,
    and it seems that Qatar has become receptive to the idea of the emergence of a parallel market abroad for its currency, which is the price of having to pay for maintaining its reserves from the dollar so far, the reserves , which is a pillar in the defense of the currency against speculation and lack of liquidity value.
    While, seeks Qatar 's central bank to maintain the riyal 's exchange rate against the dollar at 3.64 riyals per dollar internally, but the banks and exchange companies have stopped dealing in Qatari Riyals after the fluctuation of its price and arrival since the start of the crisis to 3.67 riyals to the US dollar abroad, also recorded a decline by moving in front of drawing rights and special units exported from the international Monetary Fund.
    According to Bloomberg, according to banking sources, to resort lenders in Qatar to overseas markets where the Qatari currency trading at lower prices, reflecting, according to sources, poor liquidity among banks in Qatar.
    In the same context, Bloomberg explained that Qatar may yield to the emergence of a parallel market for its currency, if it wants to maintain foreign reserves in light of this crisis.
    On the other hand, emphasizes "Bloomberg" according to analysts, be linked to the Qatari riyal to the dollar in the domestic market will remain in place .. but the real dilemma will be in front of banks .. facing big requirements for the financing of the 2022 World Cup projects , especially since about 25% of the owners of deposits with their of non - residents.
    Underscoring the Qatari Riyal crisis is the futures prices for this currency maturing after a year, where Bloomberg data showed a rise of 400 basis points since the beginning of the crisis on the fifth of June, to record their highest levels ever.

    http://sngiq.net/wordpress/?p=71598

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