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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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    Economic Adviser: The "colored noise" behind the dollar exchange rate difference in the markets

    Rocky
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    • Post n°1

    Economic Adviser: The "colored noise" behind the dollar exchange rate difference in the markets Empty Economic Adviser: The "colored noise" behind the dollar exchange rate difference in the markets

    Post by Rocky Fri 10 Feb 2023, 2:43 pm

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    Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Friday, that the Central Bank's packages will accelerate the levels of meeting the demand for foreign currency.

    Saleh said in a statement, "There is a difference between the balance of the forces of supply and demand in the money market and the power of monetary policy intervention in this transitional phase by organizing the assets of foreign trade procedures, and meeting the financing needs in foreign currency on the part of the banking sector and in accordance with international compliance rules on the one hand, which are taking place in a uniform manner." It is accelerating with the passage of days, and among the emergency hunters of profit opportunities from speculators and crisis traders in the money market.

    He added, "These people trade based on distorted or colored information that is circulated in gray markets to achieve fateful profits that take place at the expense of the legality of the procedures and arrangements that monetary policy follows in achieving stability in the general level of prices and work at the new official exchange rate, without realizing from them the importance of implementing the equation." The strong power between the high foreign reserves and the strength of the Iraqi dinar, which officially settled at 1,300 dinars to one dollar.

    And Saleh continued, "Because of the weakness of the regular market institutions in verifying the positive signs of the strength of the national economy and the strength of its reserves, which exceeded 115 billion dollars, the market is still affected by what is called in the economy (colored noise)," indicating that "

    He explained, "The first of these two matters is the foreign commercial arm of the government that operates in accordance with international rules of trade and carries flexibility and a very high possibility of providing commodity supply at stable prices at any moment, and the second is the role of the effective packages launched by the Central Bank of Iraq on which the policy works." Cash in accelerating the openness of the levels of meeting the demand for foreign currency, with the degree of progress of the banking system in the transparent use of foreign trade financing documents for the private sector, so that the conversion in foreign currency increases in accordance with the rules and provisions of international trade and international compliance controls.

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