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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


    BLACK REMITTANCES.. AN EXPERT REVEALS THE REASON FOR THE HIGH PRICE OF THE DOLLAR

    Rocky
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    • Post n°1

    BLACK REMITTANCES.. AN EXPERT REVEALS THE REASON FOR THE HIGH PRICE OF THE DOLLAR Empty BLACK REMITTANCES.. AN EXPERT REVEALS THE REASON FOR THE HIGH PRICE OF THE DOLLAR

    Post by Rocky Wed 28 Dec 2022, 6:20 am

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    BLACK REMITTANCES.. AN EXPERT REVEALS THE REASON FOR THE HIGH PRICE OF THE DOLLAR
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    [You must be registered and logged in to see this link.]24 hours ago45


    Mustafa Al-Tamimi / Baghdad 
    The expert in financial and economic affairs, Nabil Jabbar Al-Tamimi, confirmed today, Tuesday, that "black remittances" are the reason behind the high exchange rate of the dollar in Iraq, while what are black remittances.
    Al-Tamimi said, in an interview with the "Al-Nabaa Agency", that "previously, merchants used remittance offices and banks to conduct their transfers abroad, which in turn are reinforced by hard currency through the Central Bank and its window, and after restricting remittances by the Federal Reserve, merchants chose another path to feed trade, so they resorted to offices The hawala, which in turn resorted to passing remittances suspected of being transported by land, to Iran and Turkey, and then from Turkey re-entering the banking system, and then moving to Dubai and the rest of the world.
    And he stated, "I call this type of money transfers (black transfers) that take place in isolation from the Iraqi banking system, and this process caused an increase in local demand for dollars as a result of merchants resorting to the market to provide dollars instead of the central bank, which faces a set of controls and standards."
    The expert in financial and economic affairs confirmed that "feeding remittances is estimated at 180 million dollars per day, and despite the increase in cash sales to the Central Bank and its transfers, which are approximately 130 million per day, there is a gap in demand estimated at 50 million dollars per day, which contributed to the rise in the exchange rate, in addition to other related factors." At the end of the fiscal year and closing the account of financial and banking institutions.
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