Established in 2006 as a Community of Reality

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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 citizen is waiting for a breakthrough in commodity prices after raising the value of the dinar a

    Rocky
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    • Post n°1

    The citizen is waiting for a breakthrough in commodity prices after raising the value of the dinar a Empty The citizen is waiting for a breakthrough in commodity prices after raising the value of the dinar a

    Post by Rocky Wed 08 Feb 2023, 6:44 am

    [size=38]The citizen is waiting for a breakthrough in commodity prices after raising the value of the dinar against the dollar[/size]


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    February 7, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk: Observers warn that decreasing the exchange rate of the dollar will not be accompanied by a reduction in market prices except by working on effective treatments that prove the exchange rate of the dollar, just as failure to approve the budget will lose the decision to reduce the price of the dollar, its effects in favor of the citizen.
    And the rapporteur of the Parliamentary Finance Committee for the fourth session, Ahmed Al-Saffar, said in an interview with Al-Sabah newspaper that “the problem that will face the budget (the price of a barrel of oil) on which the budget is prepared and built, and in light of the fluctuation of oil prices between high and low, puts the legislator in front of a problem over any price.” The budget will be approved, in addition to the problem of the dollar exchange rate.
    Al-Saffar warned that if the budget is approved and money is pumped into the market through public expenditures while maintaining the same ineffective procedures, this “will amplify and exacerbate the problem of the exchange rate, given that an increase in the amount of cash in circulation leads to greater demand.” On the dollar, which in turn leads to more increases if the necessary measures are not taken by offering the dollar.
    And the expert in economic affairs, Jaafar Baqir Alloush, says, “The delay in approving the budget is related to the crisis of the rise in the exchange rate of the dollar in the parallel market,” explaining that “the relationship lies in the extent to which expenditures match the gap in the exchange rate and an attempt to bridge it by increasing expenditures directed to support foreign trade.” And this was announced in the official state speech.
    He noted that the exchange rate is not linked to the budget, “on the contrary, it is the budget that is affected by the exchange rate of the dollar.” With regard to the volume of estimated expenditures in the budget (200 trillion dinars) compared to the exchange rate, Alloush explained that it is “a price equation that helps increase the mass Dinar cash directed to restrict aggregate demand (of this size) with limited dollar revenues, and thus will contribute to raising the value of the dollar against the Iraqi dinar.
    And the economist, Nabil Al-Marsoumi, stated that “the launch of the budget will lead to spending in both its consumer and investment parts, which will lead to spending additional funds, which will generate inflation in money and government spending, and this leads to an increase in dollar-financed imports, and the pressure on the hard currency will increase.” “If the exchange market does not stabilize in Iraq, it is possible that approving the budget will lead to a rise in the exchange rate and at higher levels than it is now.”
    And in the event that the decline in the exchange rate of the US dollar against the Iraqi dinar is accompanied by the stability of commodity prices downward, this will stop the high cost of living and reassure the Iraqi citizen, and this requires monitoring the stability of the exchange rate in the local market and taking steps that maintain the balance.
    And in the obelisk’s communication with economic analysts, the high price is linked to the exchange rate, and it should not be left according to the mood of traders and currency speculators.
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