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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


    Iraq: Speculative gangs tighten their grip on the currency market

    Rocky
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    • Post n°1

    Iraq: Speculative gangs tighten their grip on the currency market Empty Iraq: Speculative gangs tighten their grip on the currency market

    Post by Rocky Sat 25 Feb 2023, 9:13 am

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    [size=34]Iraq: Speculative gangs tighten their grip on the currency market
    [You must be registered and logged in to see this image.]by [You must be registered and logged in to see this link.]February 25, 2023[/size][/size]

    In Iraq, gangs of corruption reached the currency market, as speculators and smugglers became very active in it, which ignited the black market for the dollar, which witnessed a big jump against the dinar. Despite the wide processing packages of the Central Bank of Iraq and its high sales of hard currency, the exchange rate of the dollar is still hovering in the parallel market, with a difference of up to 200 dinars from the official rate.
    The Iraqi markets recorded varying prices for the dinar against the dollar on the black market during the past two days, as it amounted to 1520 dinars to the dollar in Baghdad, and in other cities about 1530 dinars, despite the extension of the official value of the central bank, which is 1320 dinars about a week ago.
    An official source in the Central Bank of Iraq, who asked not to be named, says, “The bank launched in the past short period a second package of reforms to push the dollar to decline closer to the official price, and focused on facilitating trade financing from China through the electronic platform, as well as facilitating Money transfers to the United States and Europe, as well as facilitating the transfer of money by citizens through international companies (Western Union and Money Gram) for various purposes.
    He added, "There are other decisions included in the new package that have not been announced at present and are awaiting clarification in an official statement, including circulating a (black) list of the names of banks and exchange house companies that did not adhere to the official price of 1,320 dinars in their dealings despite official circulars to prevent their requests to buy dollars and block access to them."
    And he continued: “The decisions also include opening new outlets to sell it directly to citizens for the first time, in specific quantities, in an unprecedented procedure, even if their request for dollars is not for the reason of travel, which will provide it in quantities that cancel their need to go to the parallel market because foreign currency will be available with authorized agents and in all regions of Baghdad and the provinces.” And at the official price.
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