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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 ASSOCIATION OF BANKS PRAISES THE CENTRAL BANK’S MEASURES TO INCREASE “SALES” AND CONFIRMS THAT P

    Rocky
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    • Post n°1

    THE ASSOCIATION OF BANKS PRAISES THE CENTRAL BANK’S MEASURES TO INCREASE “SALES” AND CONFIRMS THAT P Empty THE ASSOCIATION OF BANKS PRAISES THE CENTRAL BANK’S MEASURES TO INCREASE “SALES” AND CONFIRMS THAT P

    Post by Rocky Wed 07 Dec 2022, 7:13 am

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    Economie

    [size=38]THE ASSOCIATION OF BANKS PRAISES THE CENTRAL BANK’S MEASURES TO INCREASE “SALES” AND CONFIRMS THAT PRICES WILL RETURN TO THEIR RATES QUICKLY[/size]


    Monday, December 5, 2022 4:47 PM
    Baghdad / The National News Center
    The Iraqi Private Banks Association announced today, Monday, that the Central Bank's measures to increase the dollar supply through its approved outlets will lead to a return of exchange rates to their rates quickly.
    Samir Al-Nusairi, the association's advisor, said, in a statement received by the National News Center, that "the economic and political conditions and their repercussions negatively affect stability in the monetary system and the financial system, and thus this will lead to economic instability and market confusion."
    Al-Nusairi added, "Speculators took advantage of the decline in dollar sales in the window for selling foreign currency, which the Central Bank explained in a statement last week that the reason is the application of a new electronic platform to control external transfers similar to the letters of guarantee platform currently implemented," pointing out that "given the lack of readiness Sufficient for local banks, with the start of the trial application of the platform, part of the foreign transfers were postponed, which resulted in a decrease in the volume of sales of the foreign currency sale window.
    He explained that “a few days ago, a new wave of criticism began from some media outlets affected by rumors launched and driven by speculators in the currency exchange market with the aim of creating a state of confusion and instability and trying to drag the money market into instability and thwarting the central bank’s plans to control the target rates of the exchange rate.” Which has remained stable since its adjustment to the new prices of finance, banks and the public.
    And he stressed that “another rumor is that the central bank will make a new change to the current price,” explaining that “the central bank has repeatedly announced that there is no intention to change the price at present and explained the negative effects of any change in the price on the national economy, trade exchanges, and local and foreign banking dealings with countries.” the scientist".
    And he continued, “The exchange rate is determined by the central bank according to the effects and repercussions of the economic reality in a country like Iraq that suffers from challenges, repercussions, economic and financial crises, and a structural and systematic imbalance in managing the economy and money. Monetary, but this cannot be achieved without joint coordination with fiscal policy and other economic sectors, activating the real economy, diversifying sources of national income, and leaving the unilateral economy relying on oil as a major resource that constitutes 93% of the general budget revenues and 57% of the GDP.
    And he pointed out that “those who criticize the central bank must be aware that its measures announced yesterday by increasing the supply of dollars through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly.”
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