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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

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    Determinants of the exchange rate of the dollar in the Iraqi market.. An expert explains the factors

    Rocky
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    Determinants of the exchange rate of the dollar in the Iraqi market.. An expert explains the factors Empty Determinants of the exchange rate of the dollar in the Iraqi market.. An expert explains the factors

    Post by Rocky Sun 11 Jun 2023, 4:40 pm

    Determinants of the exchange rate of the dollar in the Iraqi market.. An expert explains the factors




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    2023-06-11 11:35
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    Shafaq News/ The economist, the spokesman for the Sulaymaniyah Stock Exchange in the Kurdistan Region, Jabbar Goran, explained on Sunday the factors affecting the determination of the exchange rate of the US dollar against the Iraqi dinar.



    Goran told Shafaq News agency, "Determining the exchange rate in the local markets is related to four determinants, the first of which is citizens' expectations that are usually linked to government decisions (statements by officials), and the second is related to determining the exchange rate in official transactions, especially financial budgets."
    He added, "There are also monetary determinants, which are related to the monetary policy of the Central Bank of Iraq, which is represented in the quantities of dollar pumping and the mechanism for distributing the dollar in the markets, the last of which is the financial policy of the state."
    Goran emphasized that "determining the exchange rate in the federal budget for the current year affected the exchange rate of foreign currency in the market. After it reached approximately (149,000) thousand dinars per ($100), it has now fallen to (146,000) thousand dinars per ($100). )".
    And that "the budget decision alone is not sufficient to control the price of the dollar in the market," explaining that "the difference exceeds (15) thousand dinars, and this is a big difference that requires the Central Bank of Iraq to take other and additional measures to control the price of the dollar."
    Regarding the reasons for the rise in the exchange rate from the official price, a spokesman for the Sulaymaniyah Stock Exchange indicated that “currency smuggling operations outside the country, as well as the process of not pumping all the money that some banks buy from the Central Bank, as well as administrative and financial corruption, are all reasons affecting the instability of the exchange rate.” dollar.”
    Goran concluded, saying, "The Central Bank of Iraq now grants approximately (200) financial invoices per week for foreign transfers, after it did not exceed (50) invoices per week, due to the financial audits on the accounts of those invoices."
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