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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: Gradual decline of the dollar in the parallel market

    Rocky
    Rocky
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    Central Bank: Gradual decline of the dollar in the parallel market Empty Central Bank: Gradual decline of the dollar in the parallel market

    Post by Rocky Sun 02 Apr 2023, 4:22 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: Gradual decline of the dollar in the parallel market[/size]

    [size=45]The Central Bank spoke of a gradual decline in the exchange rate of the dollar in the parallel market, stressing that it is not possible to open a direct window to citizens.[/size]
    [size=45]And the assistant general manager of the investment department in the bank, Muhammad Yunus, said in a statement to the official news agency, followed by (Al-Mada), that “all financial transfers are followed up and monitored by the Central Bank of Iraq through the electronic platform and the cash sale platform.”[/size]
    [size=45]Yunus added, "These operations come within the international standards for combating money laundering and terrorist financing, and are compatible with all international norms and laws."[/size]
    [size=45]He pointed out, "These operations do not affect the reputation of Iraq, the Central Bank and financial institutions in the event of any defect in those transfers."[/size]
    [size=45]Younes explained, "The accepted transfers started to increase continuously, and we expect the Central Bank to reach very high levels."[/size]
    [size=45]Concerning the daily conversion rate of foreign currencies, Younis confirmed that “the bank publishes daily its cash sales and transfers, which currently range between 100 to 150 million dollars, in addition to cash sales,” expecting “an increase in transfers in the coming days.”[/size]
    [size=45]Regarding the possibility of the dollar exchange rate returning to its previous price, Younis indicated that “the parallel rate has begun to gradually decrease on a daily basis during the past days,” noting that “the Central Bank is working hard to solve all the problems that banks and merchants suffer from in the process of financial transfer.”[/size]
    [size=45]Regarding the possibility of opening a window to sell the dollar to citizens with specific numbers per month, Yunus explained that “the dollar cannot be available to any citizen, given that it is not a national currency for Iraq,” noting that “the dollar must be allocated for dealing outside Iraq for the purposes of financing trade, travel, treatment and study.”[/size]
    [size=45]Yunus went on to say that “opening a window to sell dollars to citizens violates all international regulations and norms.”[/size]
    [size=45]For his part, the Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in a televised statement followed by (Al-Mada): “The Central Bank has taken several measures to reduce the price of the dollar, especially through the three packages that it launched at the beginning of this year, which were sufficient to address the high exchange rate in the market.” Parallel.”[/size]
    [size=45]Khalaf added, "The bank met with the Federation of Iraqi Chambers of Commerce and a number of merchants to discuss the challenges and develop mechanisms to address them," suggesting "the issuance of new packages to address all the challenges facing merchants to facilitate their access to foreign currencies."[/size]
    [size=45]Khalaf explained the gradual decline in the price of the dollar during the past week by increasing the “volume of sales of the central bank,” noting that “the bank liberated restrictions on sales, and the bank can sell any amount of dollars as long as there is a real demand for dollars,” explaining that “the difference between my price Official and parallel exchange will gradually disappear.[/size]
    [size=45]Khalaf pointed out, "Iraq does not need to establish new banks at the present time or in the future, but rather activate the existing banks," pointing to "the presence of more than 70 governmental and private banks," noting that "the Central Bank is serious about sorting good banks from not good ones." ".[/size]
    [size=45]Khalaf pointed out, "There is a great response by banks to the instructions of the Central Bank regarding the official exchange rate," calling at the same time to facilitate "the procedures for merchants' transactions quickly."[/size]
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