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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: Commitment to strict currency financing instructions will significantly reduce the exchange

    Rocky
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    • Post n°1

    Central: Commitment to strict currency financing instructions will significantly reduce the exchange Empty Central: Commitment to strict currency financing instructions will significantly reduce the exchange

    Post by Rocky Sun 11 Jun 2023, 4:32 am

    Central: Commitment to strict currency financing instructions will significantly reduce the exchange rate

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    Economy News - Baghdad
    Today, Saturday, the Central Bank revealed its plans to raise financial and gold reserves, while noting that adherence to foreign currency financing packages will contribute to a significant decrease in the dollar exchange rate in the coming days.
    Al-Alaq said, in an interview with the official news agency, that "packages of instructions for financing in foreign currencies abroad were launched with the launch of the electronic platform," noting that "the aim of this package is to meet the requests of all the needs of the Iraqi economic sectors in addition to the needs of citizens for travel, treatment and study." ".
    Al-Alaq added, "These packages contributed to organizing a large part of the trade process in Iraq through the entry of various sectors into the official channels of transfer, and mitigated the fluctuations in exchange rates, which at the beginning of the launch of the platform in the market reached approximately 160 thousand dinars per dollar." ".
    He stressed, "There is a significant improvement in the work of the trade financing platform and the cash payment platform, and that proceeding in this framework will contribute to a significant decrease in the exchange rate in the coming days."
    Regarding plans to raise financial reserves and gold in the central bank, Al-Alaq said, "The two most important factors that determine the accumulation and depletion of foreign reserves are external, as the accumulation of reserves is mainly linked to the amount of oil exports and the price of a barrel, while the depletion of reserves takes place through importing goods and services as well as external transfers." ", stressing that "under normal circumstances, this bank aims to build a sustainable level of foreign reserves while ensuring high liquidity and relatively good returns."
    He continued, "With regard to gold, this bank places increasing its holdings of gold on a high level of importance, and by the end of this year, this bank aims to increase its holdings by at least the equivalent of $500 million."
     Regarding the housing loan initiative, Al-Alaq stated that “housing loans did not stop, as the circular of this bank No. 6/5/988 on 4/27/2023 in paragraph (5) of it indicated the continuation of financing applications submitted to the Real Estate Bank and the Housing Fund within the allocated allocation To them, it is derived after that by reallocating 50% of the total loan installments previously granted, whose total loans financed by the Central Bank through its initiative amount to more than 10 trillion dinars.


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