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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


    The central bank’s sales are “quickly leaving” the level of $ 200 million per day .. An “emergency”

    Rocky
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    The central bank’s sales are “quickly leaving” the level of $ 200 million per day .. An “emergency” Empty The central bank’s sales are “quickly leaving” the level of $ 200 million per day .. An “emergency”

    Post by Rocky Thu 06 May 2021, 8:05 am


    [size=30]The central bank’s sales are “quickly leaving” the level of $ 200 million per day .. An “emergency” rise and the decline has started and will continue .. Why?

    2021-05-06
    [/size]
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    Yes Iraq: Baghdad

    In a sudden jump after the approval of the 2021 budget, the central bank’s sales rose to high levels that touched $ 200 million per day during the past weeks, after it did not exceed $ 50 million per day prior to the budget’s approval.
    Against the background of this accelerating demand, many described that the move to reduce the dinar against the dollar did not come to eat, and the currency auction sales returned to rise and the hard currency was depleted from the country, and while sales exceeded $ 200 million per day until late April, the currency auction witnessed a significant decline since the beginning of the year. May this month, as the $ 180 million has never touched since the beginning of this month.
     
    On Thursday, hard currency sales in the central bank amounted to only $ 149.8 million.
     
    Why decreased dollar sales in the central bank?
    Economist Nabil Al-Marsoumi says, in a clarification monitored by "Yes Iraq", that the Central Bank of Iraq’s dollar sales have increased significantly over the past two weeks, reaching $ 1.016 billion and $ 973.215 million, respectively.
    He indicated that this increase came after the approval of the 2021 budget, which categorically confirmed that the Iraqi dinar exchange rate would remain 1450 dinars against the dollar, which led to a strong demand from traders for the dollar not only to meet the needs of the local market, but also to compensate for the shortage in merchants ’stocks of various commodities. .
    Al-Marsoumi considers that "this great demand was transient and not sustainable. When the Iraqi market stabilized, the demand for the dollar declined, and with it the central bank's sales declined to 833.571 million dollars during the current week."
    Al-Marsoumi states that "in the coming weeks we will witness some decline in the Central Bank's dollar sales, which is a natural result of the reduction in the exchange rate of the dinar, which led to a decrease in overall consumption financed mostly by import."
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