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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


    Central Bank: Our measures contributed to the stability of the exchange rate

    Rocky
    Rocky
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    Central Bank: Our measures contributed to the stability of the exchange rate Empty Central Bank: Our measures contributed to the stability of the exchange rate

    Post by Rocky Wed 29 Mar 2023, 4:38 am

    POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]

    [size=52]Central Bank: Our measures contributed to the stability of the exchange rate[/size]

    [size=45]Yesterday, Tuesday, the governor of the Central Bank, Ali Al-Alaq, spoke about the stability of the exchange rates of the dollar, stressing that the reserve depends on oil revenues.[/size]
    [size=45]Al-Alaq said in a statement to the official news agency, “The central bank’s procedures are continuing, and the packages that it launched are serious and have contributed to the stability of the dollar exchange rate, and we are still continuing our procedures.”[/size]
    [size=45]Al-Alaq added, “The central bank’s reserves depend on oil revenues through the sale of oil, as it is the source of foreign currency reserves that come from Iraq’s oil exports and is the main factor in determining the reserves,” noting that “the central bank’s reserves are within international standards.”[/size]
    [size=45]It is noteworthy that the Central Bank launched a set of packages in order to advance the banking sector and stabilize the exchange rate of the dollar.[/size]
    [size=45]For his part, the financial advisor in the Council of Ministers, Mazhar Muhammad Salih, stated that “the Iraqi financial sector is living in a transitional circumstance that includes several goals, including reducing the value of the dollar against the dinar from 1450 dinars per dollar to 1300 dinars per dollar.”[/size]
    [size=45]Saleh denied, in an interview with the official news agency, "the existence of transient or ambiguous external transfers or intersection with international compliance at the present time."[/size]
    [size=45]He pointed out, "There is freedom in the transfer of trade and capital, such as buying a property outside the country, provided that it passes through the correct banking digital tools and through international compliance."[/size]
    [size=45]Saleh pointed out, "This procedure generated two prices for the dollar: the first is official, and the other is parallel, but the difference between the two prices began to shrink over time."[/size]
    [size=45]He stressed, "The economic situation is gradually improving as long as there is freedom in transfers that must be subject to compliance," noting that "during the next few weeks or months, the official exchange rate will match with the parallel."[/size]
    [size=45]Saleh stated, "The banks have begun to comply properly, and have begun to make the correct transfers."[/size]
    [size=45]And he noted, "The number of external transfers from the Central Bank's window reached a normal rate, which is 200 million dollars per day."[/size]
    [size=45]Salih reassured the Iraqis that "Iraq's reserves are sufficient and freedom of transfer is available through legal frameworks and compliance."[/size]
    [size=45]He stated, "Imports are made at an exchange rate of 1,300 dinars to the dollar, and this gives strength to the Iraqi dinar."[/size]
    [size=45]And he stressed, "The central bank reserves today are around $115 billion, which is the largest reserve in the country's history."[/size]
    [size=45]And between Saleh, "The Iraqi economy is strong and easily faces crises, and the situation is heading towards improvement."[/size]
    [size=45]He explained, "Iraq is moving towards gradually improving the digital payments climate and complying with the world."[/size]
    [size=45]And Saleh went on, that "the packages launched by the Central Bank are smart and give reassurance to the Iraqi citizen, and we have entered the stage of digital payments correctly in Iraq."[/size]
    [size=45]It is noteworthy that the parallel market is still recording high numbers in the exchange rate of the dollar, which are higher than what is officially announced by the Central Bank.[/size]
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