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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


    Reducing the exchange rate.. Will Iraq move to the “punished currencies” zone?

    Rocky
    Rocky
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    Reducing the exchange rate.. Will Iraq move to the “punished currencies” zone? Empty Reducing the exchange rate.. Will Iraq move to the “punished currencies” zone?

    Post by Rocky Sat 11 Feb 2023, 6:04 am

    [size=45][size=41]Reducing the exchange rate.. Will Iraq move to the “punished currencies” zone?[/size]
     16 hours ago
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    The economist, Salam Sumaisem, shed light on an issue related to the move to reduce the exchange rate of the dollar, noting that it “contradicts” with Iraq’s post-2003 policy that goes towards the “freedom of exchange” system, not restricting it, wondering whether the step comes within the context of the “divorce of the dollar.” And moving to the penalized currency area.
    Sumaisem said in an article published by the Public Policy-Making Forum-London, that “the reduction of the exchange rate is not a government decision, but rather it is the result of economic policies and reform measures that cause an adjustment in the exchange rate,” noting that “this reduction will lead to some obtaining a dollar at a reduced price and selling it at a lower price.” higher for people, and the difference between the two prices will be high, which leads to new inflation that hits the economy.”
    She pointed out that “Iraq after 2003 abandoned the policy of restricting the exchange rate to a system of freedom of exchange,” while wondering whether “Iraq had retreated and decided to return to the previous system, or is it a step to divorce the dollar and move to the area of ​​penalized currencies?”
    And if the second goal is achieved, Sumaisem shows that there are two facts: “The first is that no oil country is allowed to value its oil in anything other than the dollar, and whoever dares to bear the consequences, like Venezuela, Iran, and Iraq before 2003.”
    The second is that “the international monetary system for the world after 1945 and until now is a system that relies on the dollar, as the Bretton Woods agreement aims to create a kind of stability in monetary policies and exchange rates between countries of the world by laying the infrastructure for the movement of capital between countries as a basis for facilitating trade.” Global,” indicating that “Iraq does not need economic suicide, but rather a decision that recognizes Iraq’s economic importance and its great role.”
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