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Neno's Place Established in 2006 as a Community of Reality


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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


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    Central Iraqi: There is no threat to the reserves due to borrowing

    Rocky
    Rocky
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    • Post n°1

    Central Iraqi: There is no threat to the reserves due to borrowing Empty Central Iraqi: There is no threat to the reserves due to borrowing

    Post by Rocky Sun 14 Feb 2021, 8:37 am

    Central Iraqi: There is no threat to the reserves due to borrowing
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    The Central Bank of Iraq
     February 14, 2021 12:05 PM
    Mubasher: The Central Bank of Iraq ruled out a threat to foreign currency reserves as a result of borrowing, indicating that the oil market recovery maximizes reserves.
    The Director General of the Accounting Department at the Central Bank, Ihssan Shamran, told the Iraqi News Agency (INA), today, Sunday, that "the dollar reserves of the Central Bank are not directly affected by the borrowings that the Ministry of Finance makes from banks," noting that "its impact is indirect and limited."
    The Central Bank emphasized that the change in the exchange rate created competition between the local producer and the importer.
    He pointed out that "the Central Bank monitors and ensures the integrity of Iraqi dinars that are handed over to traders to buy dollars for fear that their sources are unknown or related to money laundering crimes, after which the dollar is delivered."
    He explained that the market now feels a little relaxed after changing the exchange rate, which contributed to reducing the import process and creating competition between Iraqi and foreign goods, noting that changing the exchange rate would help the national product in marketing its goods after the imported goods became high in value by 22%.
    He pointed out that "the change of the exchange rate made by the Central Bank in favor of supporting the national product against the importer."
    He continued, "The recovery of the oil market would maximize the hard currency needs and reduce the deficit in the general budget for 2021, noting that the dollars collected from the oil sales differences will strengthen the foreign operation reserves of the central bank, as this will reduce the pressure on the bank’s currency reserves."


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    Stevethebrit
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    Stevethebrit
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    • Post n°2

    Central Iraqi: There is no threat to the reserves due to borrowing Empty Re: Central Iraqi: There is no threat to the reserves due to borrowing

    Post by Stevethebrit Sun 14 Feb 2021, 8:42 am

    Keep digging Rocky, you're doing a fine job.

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