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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 central bank calls on traders to buy dollars through the platform and avoid speculators

    Rocky
    Rocky
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    The central bank calls on traders to buy dollars through the platform and avoid speculators Empty The central bank calls on traders to buy dollars through the platform and avoid speculators

    Post by Rocky Wed 08 Feb 2023, 2:31 pm

    The central bank calls on traders to buy dollars through the platform and avoid speculators

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    Economy News / Baghdad
    Today, Wednesday, the Central Bank of Iraq warned traders against dealing with speculators to obtain dollars, calling on them to resort to the official platform for financing foreign trade.
    And the central bank advisor, Ihsan Shamran, told the Iraqi News Agency: “The central bank’s decision supported and supported by the government entered into force today, to sell the dollar at a price of 1320 to the public, as the central bank buys from the Ministry of Finance and from any party that sells the dollar for 1300 dinars and sells the dollar to banks.” At 1310, for the bank to sell it to the public at 1320,” adding, “We have great hope that banks will comply with this price and provide dollars to the public, because the Central Bank provides dollars, whether in cash for the traveler’s requirements, or to meet the requirements of trade and financial transfers, whether by remittances or documentary credits, and all of that through the platform.
    Shamran continued, "This procedure supports other procedures in limiting transactions and merchants not resorting to speculators to meet their need to obtain dollars. The platform will serve several purposes, and the low exchange rate came to strengthen the Iraqi dinar to support the government effort and the central bank's effort in economic reform. The platform is a gateway." Economic reform, the gateway to financial reform, and the gateway to reforming the banking sector," stating, "We hope that the public's income levels will improve to meet their requirements, and we hope that this step will reduce commodity prices."
    And he explained, “It was calculated that the public finances would lose part of its resources with this reduction, as the exchange rate was adjusted to the limits of one hundred and fifty dinars for each of the categories, whether the cost of purchasing dollars from the finances, the cost of purchasing dollars by the bank, or the cost of purchasing dollars from the public, and the government decided The Central Bank considered that the interest of the public is supreme, meaning that the interest of the consumer is supreme, so the interest of public finance was sacrificed.
    Shamran pointed out, "The Central Bank has expanded the offer of the dollar by increasing the share of the traveler for various purposes to seven thousand dollars for the traveler instead of five thousand dollars, and this is in fact an expansion of the offer in order to respond to the requirements of travelers for the purposes of study and treatment, in addition to expanding the sales outlets to the public, as it was In the beginning, a branch of the same bank and monitored by the Central Bank’s control staff, now after the last meeting of the governor, the bank has the ability to distribute dollars through all its branches, whether in Baghdad or the provinces, and this also expanded the supply of dollars, and in airports as well, we opened outlets for bank branches located in airports.
    And he stated, "Obtaining the dollar has become easy, and the initiative now is for merchants who hope to limit their obtaining of dollars from the platform and avoid dealing with speculators because this method is dangerous for the economy and exposes them to accountability as speculators are exposed as well," pointing out that "many merchants have begun to convert to the platform and take their orders.”


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    Added 2023/02/08 - 7:27 PM
    Updated 2023/02/08 - 11:23 PM


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