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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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    The Central Bank reveals to Alsumaria the reasons for the rise in dollar prices

    Rocky
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    The Central Bank reveals to Alsumaria the reasons for the rise in dollar prices Empty The Central Bank reveals to Alsumaria the reasons for the rise in dollar prices

    Post by Rocky Mon 16 Jan 2023, 8:19 am

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    [size=35][size=35]The Central Bank reveals to Alsumaria the reasons for the rise in dollar prices[/size]
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    2023-01-16 | 06:42
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    The bank's advisor, Ihsan Al-Yasiri, revealed the reasons for the rise in the exchange rates of the dollar against the dinar in the local markets, while noting that the exchange rates of the dollar will return to 1470 soon.


    Al-Yasiri said in an interview with Alsumaria News, "The reasons for the high dollar exchange rates are represented by the fact that 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]More than a year ago, he began organizing the foreign trade and financing sector, which is an important sector because the real productive sector in Iraq is not sufficient now to satisfy the consumer demands of the public.






    And he continued, "Therefore, import remains the largest funder of the public's requirements, such as food and consumer goods, and others."

    Al-Yasiri pointed out that, "The Central Bank, after 2003, has become financing import operations through the window for selling foreign currency and is trying to improve the mechanisms of financing foreign trade to ensure the movement of the dollar and its access to those in need, whether it is cash dollars or financing foreign trade with remittances or credits."

    And the Central Bank advisor went on to say, “A year ago, we started building what is called (the platform), which is a mechanism through which banks raise their requests for the purpose of meeting the needs of financing foreign trade,” adding, “Previously, financing foreign trade also performed for the purposes of financing trade, but it did not produce information because The central bank was preparing funds for banks based on information provided by their customers.
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    He pointed out that "banks also carry out tasks of searching for the customer according to what is known as the task (know your customer), that is, knowing the nature of the customer and the sources of his money, and then the money goes out in favor of the customer, and after that the goods are returned."

    Al-Yasiri explained, "There are problems at the border crossings, that is, the financial authority, with regard to customs fees and tax secretariat fees," noting that "this platform will organize the work very accurately."

    And he stressed that "the dollar that the bank receives goes to the beneficiary in exchange for real goods that return to the country," noting that "this platform will make the banks work to define all customers who aim to buy the dollar in order to carry out import operations and identify the correspondent banks to it and the customers to benefit from the result."

    And he added, "

    And Al-Yasiri said, "Some merchants now fear tax and customs procedures, fees and information, and many merchants who actually buy dollars in return for real goods are more than 90 percent of the dollar that comes out of the central bank, instead of real goods."

    And he stressed, "The exchange rates will return to 1470 soon, and the rates that it reached were not critical," noting that "[You must be registered and logged in to see this link.]Besieged by countries that have a decline in the price of their currency and are worried economically, and this challenge casts a shadow on them[You must be registered and logged in to see this link.]And Al-

    Yasiri went on to say, "Returning the exchange rate of the dollar to what it was in the past (120) thousand dinars for every 100 dollars leads to confusion in the economy and the market."
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