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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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An Iraqi parliamentary committee warns of the continued rise of the dollar while ignoring its curbs

rocky
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An Iraqi parliamentary committee warns of the continued rise of the dollar while ignoring its curbs Empty An Iraqi parliamentary committee warns of the continued rise of the dollar while ignoring its curbs

Post by rocky Tue 08 Jun 2021, 8:20 am


[size=47]An Iraqi parliamentary committee warns of the continued rise of the dollar while ignoring its curbs[/size]



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Baghdad
Baraa Al-Shammari

June 08, 2021
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The decline in the dinar affects the purchasing power (Getty)
Today, Tuesday, the Finance Committee of [You must be registered and logged in to see this link.]the Iraqi Parliament expected the continuation of the increase in the exchange rate of the dollar to reach 1,600 [You must be registered and logged in to see this link.]dinars to the dollar, in the event that the government does not take appropriate measures to control this rise. 
Committee member Jamal Joker said that the legislative authority (Parliament) "does not have the right to stop the manipulation that takes place in the exchange rate of the dollar against the dinar in the Iraqi markets," explaining that "the Ministry of Finance and the Central Bank of Iraq bear responsibility for what happened and what will happen in the coming days." . 

He pointed out, in a briefing to journalists, commenting on the rise in the new exchange rate at 1500 dinars to the dollar, that "the exchange rate will rise to 1600 dinars if the government does not take deterrent measures to control it," blaming the political blocs for part of the responsibility for the manipulation he described as "big And the dangerous” in the dollar exchange rate, because it agreed to raise it and include it in the 2021 budget. 
The Iraqi government had decided, at the end of last year, to raise the dollar exchange rate from about 1200 to 1450, and this was proven in the current year’s budget, in an attempt to control the [You must be registered and logged in to see this link.]economic crisis that hit the country, due to the Corona pandemic, and the drop in oil prices that accompanied the beginnings of the pandemic. . 
The Central Bank of Iraq tried to alleviate the burdens of the high exchange rate of the dollar on travelers outside the country, through measures it took yesterday, Monday, to sell the dollar at the official rate for Iraqis who intend to travel. 
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energy

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The bank said, in a statement, "For the purpose of facilitating the procedures for citizens to obtain foreign currency (dollars) for the purposes of travel, study and treatment abroad, the Central Bank of Iraq announces that all their requests to purchase medicine for the above purposes will be met," noting that the sale is at the official price set by the Central Bank. 
Member of Parliament, Fadel Jaber, called on the government to take advantage of the significant rise in oil prices in order to ease the burdens on citizens, and to do justice to the eligible segments, explaining, in an interview reported by local media, that the percentage of these segments increased due to the measures taken by the government earlier. 
He added, "The surplus of oil prices must be optimally utilized for the citizen to benefit from, in addition to harnessing it to serve the poor segments of the Iraqi people," noting that the price of oil exceeded the $70 barrier, while its budget price was only $45. "What requires the exploitation of the surplus to solve the current economic crisis." 
The researcher in economic affairs, Ali Al-Salami, points out that the authorities can stop the continuous rise in the dollar exchange rate, by controlling the currency auction, which has the right to sell the dollar to banks, companies and exchange offices.
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Arab economy اقتصاد

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Al-Salami explained, in an interview with Al-Araby Al-Jadeed, that the exchange rate witnessed stability at the beginning of this year, but the rise began to become clear in recent weeks, “which indicates the existence of manipulation by some parties that obtain it at the official rate from the Central Bank, and sell it in Markets with a huge profit margin. 
He pointed out that this rise reflected negatively on the prices of goods in the markets, explaining that "the ordinary citizen paid the largest tax for the government's decision to reduce the value of the Iraqi currency."


semantics



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