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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


    The central bank identifies the "main culprit" of the dollar's rise

    Rocky
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    The central bank identifies the "main culprit" of the dollar's rise Empty The central bank identifies the "main culprit" of the dollar's rise

    Post by Rocky Wed 31 May 2023, 4:24 pm

    The central bank identifies the "main culprit" of the dollar's rise

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    Baghdad today - Baghdad
    The Central Bank of Iraq accused those it described as "small merchants" of pressuring the parallel market to buy dollars and dealing at the unofficial rate, which led to a rise in dollar prices.
    The assistant general manager of the investment department in the bank, Muhammad Yunus, told the official news agency, and “Baghdad Today” followed him, that: “Small merchants who are not entitled to enter the platform are the ones who buy the dollar and deal at the parallel price and pressure and form a demand for it. As for the rest of the commercial companies, they enter the platform.” Transfers are made normally and at the official rate.
    He emphasized that "those speculating in dollars are violating the law, and dealing with them is done through the Iraqi judiciary."
    Younes explained, "The member parties in the Iraqi Dinar Support Committee are communicating with the security services to implement the instructions of the Council of Ministers and the Central Bank to support the dinar, stabilize the exchange rate and prevent informal dealings because there is no need to deal in dollars in Iraq."
    He added, "The bank is currently adopting a mechanism to improve procedures, facilitate remittance transfers, and overcome all difficulties."
    He pointed out to Yunus, "The aim of the Central Bank's launch of the three consecutive packages is to maintain the stability of the exchange rate and deal at the official price, and the sale was launched through cash sales platforms."
    It is noteworthy that the security forces and members of the Organized Crime Directorate in Iraq continue their campaign in cities to urge and motivate citizens to deal in dinars instead of dollars, in addition to monitoring the market to prevent exploitation by merchants, some of whom raise and lower prices based on exchange rate fluctuations.
    In the context, a source close to the Prime Minister's office said, "The campaign aims to stabilize the dinar as a currency for trading in the sale and purchase of cars, homes, electrical appliances, construction materials, and everything related to commercial and economic work in the Iraqi market," noting that "the current government plans to control the dollar." In order to achieve development and enable the value of the Iraqi dinar, by expanding the scope of its commercial uses, in addition to preventing the smuggling of the dollar abroad or its storage and price manipulation.
    It is noteworthy that, on February 8, the Central Bank of Iraq began selling the dollar at the new official rate as follows:
    - 1300 dinars per dollar, the price of buying a dollar from the Ministry of Finance.
    - 1310 dinars per dollar, the price of selling dollars to banks through the electronic platform.
    - 1320 dinars per dollar selling price of the dollar from banks and non-bank financial institutions to the final beneficiary.
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