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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


    Financial expert Mahmoud Dagher issues a warning about local currency storage

    Rocky
    Rocky
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    Financial expert Mahmoud Dagher issues a warning about local currency storage Empty Financial expert Mahmoud Dagher issues a warning about local currency storage

    Post by Rocky Thu 02 Feb 2023, 6:18 am

    [rtl]Financial expert Mahmoud Dagher issues a warning about local currency storage[/rtl]

      2023/02/02 09:50 
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    [rtl]Baghdad - Iraq today:

    A financial expert warned of the repercussions of the Central Bank of Iraq resorting to cash storage from the local currency to compensate for any currency scarcity in the markets.

    The expert, Mahmoud Dagher, said in a press interview followed by (Iraq Today), that “providing the local currency takes place through the continuation of the process of deliberation and commercial exchange within the markets, which goes hierarchically from the merchant to the central bank to buy dollars, and then the local monetary mass goes from the bank to the Ministry of Finance, to be distributed as salaries and financial dues for employees or others who have dues from the state.

    Dagher explained that “the Central Bank sells the dollar today in a currency auction at very low rates, which means that the bank's storage of the local currency will be limited, which will put the Ministry of Finance in a difficult position regarding paying employee salaries and other financial obligations,” noting that “the bank's resort to hoarding From the dinar, and paying it to the Ministry of Finance will have negative consequences, most notably an increase in inflation rates.[/rtl]

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    [/rtl]

      Current date/time is Mon 22 Apr 2024, 2:26 am