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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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Parliamentary Finance places 3 options before the Central Bank regarding the rise in dollar prices i

rocky
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Finance - Parliamentary Finance places 3 options before the Central Bank regarding the rise in dollar prices i Empty Parliamentary Finance places 3 options before the Central Bank regarding the rise in dollar prices i

Post by rocky Wed 09 Jun 2021, 7:38 am


[size=30]Parliamentary Finance places 3 options before the Central Bank regarding the rise in dollar prices in the markets


2021-06-09
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Yes Iraq: Baghdad

The Finance Committee in Parliament proposed a solution to the crisis of the high exchange rates of the dollar against the Iraqi dinar in the market, while it presented 3 options to the Central Bank of Iraq to solve the exchange rate crisis.
 
And the exchange rates in exchange offices and local markets in the capital, Baghdad, rose to about 1492.50 dinars for purchase, and 1502.50 dinars for sale.
 
Committee member MP Ahmed Rashid said in a press statement that "the Central Bank confirmed, before applying the new dollar exchange rate, that the price is fixed at 1450 dinars per dollar, and is not subject to change, but banks and exchange companies did not adhere to this."
Rashid explained, "The Central Bank is faced with the options of issuing warnings and penalties, or excluding banks and companies that manipulate the dollar exchange rate or increase the supply."
And a member of the Finance Committee stated that “increasing the dollar’s ​​supply will lead to a reduction in prices, because whenever the supply is greater than the demand, it will lead to a decrease in the exchange rate, and therefore this depends on the dollar’s ​​pumping into the markets by the central bank.”
Since the collapse of oil prices earlier this year, Iraq is facing an unprecedented liquidity crisis, the government of Prime Minister Mustafa Al-Kazemi was forced to borrow from the bank’s reserves in dollars to repay nearly $ 5 billion per month, representing public sector employee salaries and pensions, followed by a decision to reduce The value of the Iraqi currency against the dollar.
The decision sparked a wave of anger in the Iraqi street, but Al-Kazemi defended his government's move and said that he had two options, "either the collapse of the system and entering into complete chaos, or we enter into a Caesarean section for reform."
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