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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


    THE DINAR AND DOLLAR RACE.. HOW TO SAVE THE RESERVE CURRENCY OF IRAQ

    Rocky
    Rocky
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    • Post n°1

    THE DINAR AND DOLLAR RACE.. HOW TO SAVE THE RESERVE CURRENCY OF IRAQ Empty THE DINAR AND DOLLAR RACE.. HOW TO SAVE THE RESERVE CURRENCY OF IRAQ

    Post by Rocky Tue 05 Oct 2021, 7:32 am

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    Economie

    [size=38]THE DINAR AND DOLLAR RACE.. HOW TO SAVE THE RESERVE CURRENCY OF IRAQ[/size]


    Tue, Oct 5, 2021 10:03 AM
    Baghdad/National News Center
    The Ministry of Finance considered, on Tuesday, that the exchange rate worked to stop the fall of the reserve currency and to enhance the country’s import capabilities.
    And the ministry stated, in a statement received by the “National News Center”, that it had “continually followed up the indicators of devaluation of the currency against the dollar and over the past nine months, and the indicators showed that the change in the exchange rate contributed to increasing the foreign reserves of the Central Bank of Iraq to 60 billion dollars in a month. April 2021, after it was $54 billion in December 2020, this came after the implementation of reform measures.”
    And she added: "The change in the exchange rate also helped reduce the demand for foreign currency, which was positively reflected in the decrease in imports and the increase in domestic production."
    And she indicated that "indicators of a clear improvement in commercial activity in the past nine months of the current year 2021 in light of the crisis, the spread of the COVID-19 virus, and also helped to stop the penetration of the Iraqi market and dumping it with cheap goods that curb attempts to upgrade local production."
    It pointed out that it is working "to reinvest the revenues of the generated funds with the aim of building a targeted production base outside the oil sector and relying on other sectors, which will contribute to a decrease in demand for the dollar as a result of compensating some of the produced goods, which made the proportion of imports to local consumption decline."
    She stated that she had adopted "since the formation of the current government, the development of plans and mechanisms to work on reforming Iraq's fiscal policy, and culminated in the adoption of the reform white paper, which outlined future economic and financial policy steps to advance local production and reduce imports for the country. Encouraging the local product and providing job opportunities.
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