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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


    Chambers of Commerce expect the parallel dollar to disappear at the end of next May

    Rocky
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    Chambers of Commerce expect the parallel dollar to disappear at the end of next May Empty Chambers of Commerce expect the parallel dollar to disappear at the end of next May

    Post by Rocky Sun Apr 30, 2023 3:07 pm

    Chambers of Commerce expect the parallel dollar to disappear at the end of next May
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    Baghdad today - Diyala
    The head of the Chamber of Commerce in Diyala, Muhammad Mulla Jawad al-Tamimi, confirmed today, Sunday, that the parallel market for selling dollars will disappear at the end of next May.
    Jawad told (Baghdad Today) that "the parallel market for selling dollars in Diyala and the rest of the provinces has lost 10% of the exchange value of the dollar in the past weeks, and it currently ranges between 140-141 thousand dinars per 100%," stressing that "the decline will be more in May." Next".
    He added that "the market no longer has any importance in determining the price, especially since there are several variables that pushed this direction, the most prominent of which is the decline in the dollarization of the markets at rates ranging from 20-25% and because of the resort of merchants and companies to relying on the dinar in the payment of debts, dues and internal trade exchanges, in addition to the decrease in smuggling." Companies resort to the electronic platform.
     Jawad pointed out that "the disappearance of the parallel market for selling the dollar is a positive case in order to end the file of speculation that was behind a series of crises that struck the Iraqi markets, but the temporary disappearance came due to the presence of networks trying to keep the market because it represents large profits in currency trade and speculation that occurs from time to time for several reasons." ".
    Earlier, the Deputy Governor of the Central Bank, Ammar Hamad Khalaf, confirmed that the difference between the official and parallel exchange rates will gradually disappear, indicating its stability at 132 thousand dinars per 100 dollars.
    Khalaf said in a press statement, followed by (Baghdad Today), that "the central bank took 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 parallel market." 
    He added, "The bank met with the Federation of Iraqi Chambers of Commerce and a number of merchants to discuss the challenges and put in place mechanisms to address them."
    He expected the issuance of new packages to address all the challenges facing merchants to facilitate their obtaining foreign currencies.
    The Deputy Governor of the Central Bank attributed the gradual decline in the price of the dollar in the past two days to the increase in the volume of sales of the Central Bank.
    He explained, "The bank has liberated restrictions on sales, and the bank can sell any amount of dollars as long as there is a real demand for dollars," noting that "the difference between the official and parallel exchange rates will gradually disappear."
    He stated that there is a great response by banks to the Central Bank's instructions regarding the official exchange rate.
    Despite the Iraqi government's adoption of the recent central bank's decision to adopt a new official exchange rate from 145 thousand to 130 thousand dinars for every $100, the margin of difference between the official and parallel exchange rates remains the same, as it ranges between 15 to 25 thousand dinars.
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    Rocky
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    • Post n°2

    Chambers of Commerce expect the parallel dollar to disappear at the end of next May Empty Chambers of Commerce expect the parallel dollar to disappear at the end of next May

    Post by Rocky Sun Apr 30, 2023 3:26 pm

    [size=45][size=41]Chambers of Commerce expect the parallel dollar to disappear at the end of next May[/size]
     3 minutes ago
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    The head of the Chamber of Commerce in Diyala, Muhammad Mulla Jawad al-Tamimi, confirmed today, Sunday, that the parallel market for selling dollars will disappear at the end of next May.
    Jawad said, in a press interview seen by Taqaddam, that “the parallel market for selling the dollar in Diyala and the rest of the governorates has lost 10% of the exchange value of the dollar in the past weeks, and it currently ranges between 140-141 thousand dinars per 100%,” stressing that “the decrease will be More next May.
    He added that “the market no longer has any importance in determining the price, especially since there are several variables that pushed this direction, the most prominent of which is the decline in dollarization of the markets, at rates ranging from 20-25%, and due to the merchants and companies resorting to adopting the dinar in paying debts, dues and internal trade exchanges, in addition to the decrease in smuggling.” Companies resort to the electronic platform.
     Jawad pointed out that “the disappearance of the parallel market for selling the dollar is a positive case in order to end the file of speculation that was behind a series of crises that struck the Iraqi markets, but the temporary disappearance came due to the presence of networks trying to keep the market because it represents large profits in currency trade and speculation that occurs from time to time for several reasons.” ".
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