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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The rise in the dollar "embarrasses" the Sudanese government: it is caught between Washington's meas

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 268390
    Join date : 2012-12-21
    • Post n°1

    The rise in the dollar "embarrasses" the Sudanese government: it is caught between Washington's meas Empty The rise in the dollar "embarrasses" the Sudanese government: it is caught between Washington's meas

    Post by Rocky Wed 28 Dec 2022, 4:30 am

    [size=35]The rise in the dollar "embarrasses" the Sudanese government: it is caught between Washington's measures and the market's "chaos".
    [You must be registered and logged in to see this link.]
    [/size]

    Economie


    [You must be registered and logged in to see this link.]
    2022-12-28 | 01:59
    [You must be registered and logged in to see this image.]




    Source:
    [You must be registered and logged in to see this link.]

    2,601 views



    Alsumaria News - Politics

    The currency markets in Iraq are witnessing a rapid decline in the value of the local dinar, after weeks of new measures imposed by the US Federal Bank on its Iraqi counterpart, which prevented money transfers and sales of dollars in favor of banks and companies accused of money laundering for the benefit of armed parties, according to Al-Sharq Al-Awsat newspaper.


    As a result of preventing these banks from dealing in US dollars, the supply of hard currency in the market became scarce, so that its exchange rate jumped to more than 158 thousand dinars, amid expectations that it would reach the barrier of 160 thousand soon.

    In order to understand the effects of the American measures, the application of the new control system on the window for selling dollars in the central bank reduced the amount of dollars from 250 million to about 50 million per day, within one month only.






    Political pressure has increased on the Prime Minister, Muhammad Shia'a al-Sudani, who finds himself caught between the American measures and the state of the markets.

    Al-Sudani faces the possibility that members of the House of Representatives will face, after 55 deputies signed a request to hold an emergency session on the dollar crisis, with a request to “disclose the real reasons for the high exchange rate,” according to Representative [url=https://www.alsumaria.tv/Entity/3660779187/%D8%B1%D8%A7%D8%A6%D8%AF %D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%83%D9%8A/ar/][/url]Raed Al-Maliki.

    According to Al-Sharq Al-Awsat newspaper, Iraqi banks have not been able during the past two weeks to adapt to the American conditions for buying dollars related to money laundering and reliable financial assets, but when they do so and return to the market, the exchange rate will decline relatively, but the crisis is not related to banks that can provide sound guarantees. Rather, the parties that the Americans believe are leaking dollars to them at the expense of the need of the Iraqi market.


    Yesterday, Tuesday, the [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url] issued recommendations to merchants and banks about exchange rates.

    The media office of the bank stated, in a statement received by [url=https://www.alsumaria.tv/Entity/133473/%D8%A7%D9%84%D8%B3%D9%88%D9%85%D8%B1%D9%8A%D8%A9 %D9%86%D9%8A%D9%88%D8%B2/ar/]Alsumaria News[/url], that "the board of directors of the [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url] held a meeting and discussed the repercussions and indicators of the rise in exchange rates in the local markets and what the foreign currency exchange rate has been exposed to for days from temporary pressures resulting from internal and external factors."

    He added, "Given the adoption of mechanisms to protect the banking sector, customers and the financial system, as all foreign trade requirements (for the purposes of documentary credits or transfers) are fully covered by the official price (1465) dinars to the dollar for documentary credits and (1470) dinars to the dollar for transfers."

    The Central Bank called on “merchants to review banks directly and not resort to brokers and speculators to avoid charging their imports with undue commissions and expenses, referring in this regard to what was issued by the [url=https://www.alsumaria.tv/Entity/1122135457/%D9%85%D8%AC%D9%84%D8%B3 %D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1/ar/]Council of Ministers[/url] in its decision No. (351) for the year 2022 regarding non-payment of customs duties and amounts of tax secretariats in advance. This will reduce redundant loops, ease procedures, and remove costs resulting from pre-demarcation problems.”

    The Central Bank stressed, "Banks must shoulder their responsibilities in facilitating and expediting procedures for their customers to ensure their access to financing with the best banking practices and with the least amount of loops, taking into account the established legal requirements."
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Thu 18 Apr 2024, 10:50 pm