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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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Al-Kazemi's Advisor Sets An Alternative Path To End The “Exchange Rate” Crisis

rocky
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Al-Kazemi's Advisor Sets An Alternative Path To End The “Exchange Rate” Crisis Empty Al-Kazemi's Advisor Sets An Alternative Path To End The “Exchange Rate” Crisis

Post by rocky Mon 15 Aug 2022, 7:12 am

Al-Kazemi's Advisor Sets An Alternative Path To End The “Exchange Rate” Crisis
15/08/2022
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Earth News/ Haitham Al-Jubouri, technical advisor to Prime Minister Mustafa Al-Kazemi, confirmed that it is impossible to return the dollar exchange rate to its previous position, while the value of the dinar can be raised against the dollar.
Al-Jubouri said in a televised interview, followed by Earth News, today, Monday, that "returning to the old exchange rate is a fantasy, as the losses that Iraq will pay in the event of a return will be more than the dollar's survival at its current price."
Al-Jubouri added, "We have to say how the strength of the Iraqi dinar can be restored, against the dollar, but not by a government decision, and this matter is achieved through supply and demand."
He stressed that "the only source of dollars at the present time is the Central Bank, for what it receives in dollars from the Ministry of Finance, for Iraqi oil sales."
He pointed out that “the currency sale window cannot be stopped by the state, as it considers the department to withdraw the dinar and pump the dollar, as it delivers the dinar to the Ministry of Finance and receives the dollar instead, and then the ministry distributes the dinar in various forms, including salaries as well as investment projects.” .
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