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]Fears of new jumps in the exchange rate and the decline in the value of the national currency[/size]
[size=45]Baghdad / Firas Adnan[/size]
[size=45]The exchange rates of the dollar are still rising in the local markets, despite government measures, while observers are calling for the absorption of the national currency in the markets to preserve its value in conjunction with the imminent launch of the allocations of the budget law.[/size]
[size=45]Representative Ali Jabbar Moanes says, "The central bank's tendencies contributed to controlling the exchange rate of the dollar after it reached its peak at the beginning of this year."[/size]
[size=45]Moanes continued, "The commitments of merchants and banking transactions are among the main reasons for the current rise in the dollar's exchange rate in the parallel market."[/size]
[size=45]He pointed out, "The prices in the market, although they are higher than the official price, are witnessing a kind of stability at 1460 dinars per dollar."[/size]
[size=45]However, Moanes called on the government to "make more efforts to bring the price in the market close to the official price approved by the budget at 1,300 dinars per dollar."[/size]
[size=45]For his part, economic academic Safwan Qusai said, "The Ministry of Finance's survival on the same policies will help the depreciation of the Iraqi dinar."[/size]
[size=45]Qusai continued, "The dinar that will be released by the ministries after the implementation of the budget law is higher than the previous spending."[/size]
[size=45]He pointed out, "Iraq is an importing country, and the increase in pumping the dinar into the markets will contribute to increasing the demand for the dollar, whether through the window of selling the currency to meet the consumables or through the parallel market."[/size]
[size=45]And Qusay demanded, "To work within the detection of cash flows, by observing the path of the Iraqi dinar, where it comes from and where it goes."[/size]
[size=45]And he noted, "This is happening through an effective electronic collection system at the level of all government units."[/size]
[size=45]Qusai believes that “pumping the dinar without absorbing it will help in rising inflation and increasing the price of the dollar in the parallel market.”[/size]
[size=45]And he stressed, “the need to link border crossings, customs, and the spread of technological systems at the level of all government institutions in order for us to have a policy in financing and re-acquiring the dinar at the level of some federal ministries that can obtain it again.”[/size]
[size=45]And he stated, “The World Bank referred in its recommendations to a set of observations that are not related to the central bank, but are linked to financial and economic policy.”[/size]
[size=45]Qusai noted, "The recommendations included asking the government to reduce the number of workers in public sector institutions and to increase the level of collection and its activation."[/size]
[size=45]And he believed that "it is not reasonable for Iraq to spend no less than 109 trillion on salaries and compensation for workers, while the recovery is 17 trillion dinars."[/size]
[size=45]Qusai stressed that this “difference will go into the pockets of the corrupt and the import, and therefore we need a process of integration between the economies of the provinces and reduce dependence on exports.”[/size]
[size=45]And he stressed the importance of “activating the role of industry and agriculture to return the Iraqi dinar to the Ministry of Finance, which is the guarantor of ensuring the stability of the exchange rate according to what is officially established by the government.”[/size]
[size=45]Qusai continued, "The Ministry of Finance has a set of solutions, such as selling part of its property in Iraqi dinars to state departments and not to other parties in order to ensure that the national currency is returned to the public treasury."[/size]
[size=45]Qusai went on to say that “the injection of money without a recovery process, means that we are facing an increase in inflation rates, with the exacerbation of the waste of public money with the rise in the price of the dollar in the parallel market.”[/size]
[size=45]For his part, economic specialist Abd al-Rahman al-Sheikhly described, “the variables of the exchange rate of the dollar in the parallel market as a game of cat and mouse.”[/size]
[size=45]Al-Sheikhly continued, that as for "Iraq's continued dependence on oil rents as it is now, the turmoil in the exchange rate will continue."[/size]
[size=45]He agrees with Qusai, with “the need to look for other sources to finance the budget and reduce dependence on foreign imports, by activating the industrial and agricultural sectors.”[/size]
[size=45]Al-Sheikhly concluded, "Iraq has fully developed a consumption budget based on the operational side, and this helps demand the dollar and its high prices in the market."[/size]
[size=45]It is noteworthy that the exchange rate witnessed an unprecedented rise since the end of last year, in conjunction with the launch of the electronic platform that requires private banks to participate in it in exchange for obtaining their share in the currency auction, and the refusal of some of those banks to participate in the platform led to a deficit in dollar sales in Markets in conjunction with increased demand.[/size]
[size=45][You must be registered and logged in to see this link.]
[size=52]Fears of new jumps in the exchange rate and the decline in the value of the national currency[/size]
[size=45]Baghdad / Firas Adnan[/size]
[size=45]The exchange rates of the dollar are still rising in the local markets, despite government measures, while observers are calling for the absorption of the national currency in the markets to preserve its value in conjunction with the imminent launch of the allocations of the budget law.[/size]
[size=45]Representative Ali Jabbar Moanes says, "The central bank's tendencies contributed to controlling the exchange rate of the dollar after it reached its peak at the beginning of this year."[/size]
[size=45]Moanes continued, "The commitments of merchants and banking transactions are among the main reasons for the current rise in the dollar's exchange rate in the parallel market."[/size]
[size=45]He pointed out, "The prices in the market, although they are higher than the official price, are witnessing a kind of stability at 1460 dinars per dollar."[/size]
[size=45]However, Moanes called on the government to "make more efforts to bring the price in the market close to the official price approved by the budget at 1,300 dinars per dollar."[/size]
[size=45]For his part, economic academic Safwan Qusai said, "The Ministry of Finance's survival on the same policies will help the depreciation of the Iraqi dinar."[/size]
[size=45]Qusai continued, "The dinar that will be released by the ministries after the implementation of the budget law is higher than the previous spending."[/size]
[size=45]He pointed out, "Iraq is an importing country, and the increase in pumping the dinar into the markets will contribute to increasing the demand for the dollar, whether through the window of selling the currency to meet the consumables or through the parallel market."[/size]
[size=45]And Qusay demanded, "To work within the detection of cash flows, by observing the path of the Iraqi dinar, where it comes from and where it goes."[/size]
[size=45]And he noted, "This is happening through an effective electronic collection system at the level of all government units."[/size]
[size=45]Qusai believes that “pumping the dinar without absorbing it will help in rising inflation and increasing the price of the dollar in the parallel market.”[/size]
[size=45]And he stressed, “the need to link border crossings, customs, and the spread of technological systems at the level of all government institutions in order for us to have a policy in financing and re-acquiring the dinar at the level of some federal ministries that can obtain it again.”[/size]
[size=45]And he stated, “The World Bank referred in its recommendations to a set of observations that are not related to the central bank, but are linked to financial and economic policy.”[/size]
[size=45]Qusai noted, "The recommendations included asking the government to reduce the number of workers in public sector institutions and to increase the level of collection and its activation."[/size]
[size=45]And he believed that "it is not reasonable for Iraq to spend no less than 109 trillion on salaries and compensation for workers, while the recovery is 17 trillion dinars."[/size]
[size=45]Qusai stressed that this “difference will go into the pockets of the corrupt and the import, and therefore we need a process of integration between the economies of the provinces and reduce dependence on exports.”[/size]
[size=45]And he stressed the importance of “activating the role of industry and agriculture to return the Iraqi dinar to the Ministry of Finance, which is the guarantor of ensuring the stability of the exchange rate according to what is officially established by the government.”[/size]
[size=45]Qusai continued, "The Ministry of Finance has a set of solutions, such as selling part of its property in Iraqi dinars to state departments and not to other parties in order to ensure that the national currency is returned to the public treasury."[/size]
[size=45]Qusai went on to say that “the injection of money without a recovery process, means that we are facing an increase in inflation rates, with the exacerbation of the waste of public money with the rise in the price of the dollar in the parallel market.”[/size]
[size=45]For his part, economic specialist Abd al-Rahman al-Sheikhly described, “the variables of the exchange rate of the dollar in the parallel market as a game of cat and mouse.”[/size]
[size=45]Al-Sheikhly continued, that as for "Iraq's continued dependence on oil rents as it is now, the turmoil in the exchange rate will continue."[/size]
[size=45]He agrees with Qusai, with “the need to look for other sources to finance the budget and reduce dependence on foreign imports, by activating the industrial and agricultural sectors.”[/size]
[size=45]Al-Sheikhly concluded, "Iraq has fully developed a consumption budget based on the operational side, and this helps demand the dollar and its high prices in the market."[/size]
[size=45]It is noteworthy that the exchange rate witnessed an unprecedented rise since the end of last year, in conjunction with the launch of the electronic platform that requires private banks to participate in it in exchange for obtaining their share in the currency auction, and the refusal of some of those banks to participate in the platform led to a deficit in dollar sales in Markets in conjunction with increased demand.[/size]
[size=45][You must be registered and logged in to see this link.]
Today at 9:01 am by Proven
» utube MM&C 4/26/24 Iraqi Dinar - US Treasury Exchange Rates- Focus - Banking Partnerships - Rate C
Today at 7:46 am by Rocky
» utube MM&C 4/28/24 Iraq Dinar - IQD - Banks - Merge Regionally - Water - Labor -Jobs - Dinar Value
Today at 7:45 am by Rocky
» Al-Sudani: The water situation in Iraq is not in the best condition.. Aboul Gheit extends an invitat
Today at 7:34 am by Rocky
» The Sudanese advisor explains... Has the 2024 budget entered into force?
Today at 7:23 am by Rocky
» The Iraqi Central Bank announces the strengthening of banks’ external accounts by $260 million
Today at 7:21 am by Rocky
» Economist: The path of development is the first gateway to sustainable economic advancement in Iraq
Today at 7:20 am by Rocky
» The green economy and diversity... major projects and challenges that will reap their fruits later -
Today at 7:16 am by Rocky
» Behind the scenes of the state administration meeting: The regional government supports Sudanese wit
Today at 7:14 am by Rocky
» The Real Estate Registry begins activating the electronic restrictions management system program
Today at 7:11 am by Rocky
» Al-Sudani confirms from Riyadh the possibility of cooperation with the German technology company (SA
Today at 7:08 am by Rocky
» On top of which is the path of development.. Al-Awadi announces the most prominent files that the Pr
Today at 6:54 am by Rocky
» The President of the Republic receives the President of the International Labor Organization
Today at 6:49 am by Rocky
» Parliamentary Finance: This week will witness funding the salaries of employees in the Kurdistan Reg
Today at 6:48 am by Rocky
» On an experimental basis... Justice announces the start of activating the electronic barriers manage
Today at 6:46 am by Rocky
» Obelisk Hour: The economic provisions in the strategic framework agreement need to be activated
Today at 6:44 am by Rocky
» Before self-sufficiency... 80 percent of citizens' need for gasoline will be met soon
Today at 6:41 am by Rocky
» A deputy reveals the features of the "five-year plan" to revive Iraqi agriculture
Today at 6:39 am by Rocky
» Deputy: We opened the Council of Ministers to decide the salary scale
Today at 6:38 am by Rocky
» Iraq doubles its investments in modern irrigation engineering by no less than 20%
Today at 6:36 am by Rocky
» Confirming to Shafaq News... The Sudanese arrives in Saudi Arabia to participate in the World Econom
Today at 6:31 am by Rocky
» Al-Sudani announces that clues have been found leading to those involved in the Kormor bombing
Today at 6:29 am by Rocky
» Special: Deconstructing the mystery of the repeated targeting of the Kormor field
Today at 6:28 am by Rocky
» Increase in foreign remittance sales at the Central Bank of Iraq
Today at 6:27 am by Rocky
» Al-Maliki: The salaries of the region’s employees are continuing, and there will be solutions to del
Today at 6:26 am by Rocky
» Minister of Resources: Iraq is one of the countries most affected by climate change
Today at 5:29 am by Rocky
» Al-Sudani arrives in Riyadh to participate in the World Economic Forum
Today at 5:27 am by Rocky
» An Arab call to the countries neighboring Iraq regarding the share of water
Today at 5:26 am by Rocky
» IMF: Poor productivity is responsible for 50% of the decline in economic growth
Today at 5:20 am by Rocky
» The President of the Republic stresses to Barzani the importance of focusing on construction, recons
Today at 5:19 am by Rocky
» Will Iran lose the Iraqi market? 20 million dollars is threatened with loss
Today at 5:18 am by Rocky
» Parliamentary Economy: Parliament will extend the legislative term to approve the budget
Today at 5:13 am by Rocky
» The price of the dollar is close to 145 thousand dinars؛ how much is $100 worth of transactions؟
Today at 5:13 am by wciappetta
» A factory for producing electric cars
Today at 5:12 am by Rocky
» Prime Minister: We have launched strategies to improve the conditions of workers
Today at 5:10 am by Rocky
» Economic prospects from America to Türkiye
Today at 5:09 am by Rocky
» Al-Rayes: The path of development is the first gateway to sustainable economic advancement
Today at 5:08 am by Rocky
» Days after announcing the connection with Jordan, an almost complete absence of electricity in Ramad
Today at 5:06 am by Rocky
» A Kurdistan delegation meets with the Ministry of Finance in Baghdad to discuss “revenues and implem
Today at 5:05 am by Rocky
» Parliamentary Economy reviews files and the importance of Sudanese’s upcoming visit to Saudi Arabia
Today at 4:59 am by Rocky
» Al-Maliki talks about postponing the Kurdistan Parliament elections and says that salary transfers w
Today at 4:54 am by Rocky
» The President of the Republic and Barzani discuss the results of Sudanese’s visit to the United Stat
Today at 4:53 am by Rocky
» The Ministry of Finance is "dizzy"... An expert points out a "lapse" in the budget schedules: Februa
Today at 4:49 am by Rocky
» Sudanese Advisor: The 2024 budget has entered into force... and there is no need to send its schedul
Today at 4:43 am by Rocky
» The Iraqi dinar is recovering against the US dollar in local markets
Today at 4:42 am by Rocky
» Iraq.. The claim that OPEC’s decisions affect oil derivatives only and not crude is “inaccurate”
Today at 4:39 am by Rocky
» Al-Bawi: Erdogan failed in his promises to his people and seeks to plunge Iraq into its conflict wit
Today at 4:37 am by Rocky
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
Today at 4:36 am by Rocky
» Amnesty International criticizes Iraq's implementation of 13 death sentences
Today at 4:34 am by Rocky
» The ambassador is very angry with Parliament: The homosexuality law obstructs the government and har
Today at 4:33 am by Rocky
» Al-Mandalawi: There is no place for homosexuality in the Iraq of the prophets and saints, and that i
Today at 4:32 am by Rocky
» Al-Sudani receives the President of the University: Towards the strength and status of the Arab syst
Today at 4:31 am by Rocky
» Ayed Al-Hilali: All leaders are discussing “the finer details of Sudanese” tonight, and Barzani join
Today at 4:30 am by Rocky
» He announced the reception of offers from three alliances from international companies for the Baghd
Today at 4:28 am by Rocky
» During his meeting with the head of the Iraqi Journalists Syndicate... Al-Amiri stresses the importa
Today at 4:26 am by Rocky
» During the launch of the Arab Labor Conference in its 50th session in Baghdad... Al-Sudani: We launc
Today at 4:24 am by Rocky
» Saudi Arabia announces an increase in direct flights with Iraq
Today at 4:23 am by Rocky
» Resources: Government measures have contributed to improving the water situation in Iraq
Today at 4:22 am by Rocky
» Al-Sadr: The voice of American universities calling for an end to Zionist terrorism is our voice
Today at 4:21 am by Rocky
» International organization: 50% of displaced Iraqis lack official documents
Today at 4:20 am by Rocky
» Al-Sudani: The path of development will provide many job opportunities
Today at 4:19 am by Rocky
» Parliament Finance: The necessity of converting tax and customs revenues to digital processing
Today at 4:18 am by Rocky
» Al-Sudani announces that clues have been found to uncover those involved in the Kormor bombing
Today at 4:16 am by Rocky
» The start of the work of the Fourth Baghdad International Water Conference
Today at 4:09 am by Rocky
» The Council of Ministers will suspend official working hours next Wednesday
Today at 4:07 am by Rocky
» An almost complete outage of water and electricity in western Anbar
Today at 4:06 am by Rocky
» Parliamentary expectations of extending the legislative term to approve the budget
Today at 4:00 am by Rocky
» Education: The cost of participating in the electronic school will amount to 200 thousand dinars
Today at 3:59 am by Rocky
» Al-Sudani arrives in Riyadh to participate in the World Economic Forum
Today at 3:58 am by Rocky
» A newspaper reveals a dark world that brings together bloggers and politicians
Today at 3:57 am by Rocky
» Al-Marsoumi: The bombing of the Kormor field undermined efforts to achieve self-sufficiency in gas
Today at 3:55 am by Rocky
» utube MM&C 4/24/24 Support - USA- Turkey - Timing- Currency Value - Tabled
Yesterday at 2:18 pm by Rocky
» Parliamentary efforts to transform Iraq into a global market for transferring Internet capacities
Yesterday at 2:07 pm by Rocky
» A parliamentary committee that enriches the political forces: Stop plundering Iraq’s wealth and work
Yesterday at 1:56 pm by Rocky
» Politician: Salem Al-Issawi is the most likely to assume the presidency of Parliament
Yesterday at 1:55 pm by Rocky
» Al-Sudani: The world today is witnessing crises whose impact has been reflected in the global econo
Yesterday at 9:50 am by Rocky
» The Federal Court responds to an inquiry by Al-Sudani regarding the powers of the provincial council
Yesterday at 9:40 am by Rocky
» Among them are the Iraqis... a list of the most sought-after immigrants to America
Yesterday at 9:38 am by Rocky
» An expert talks about the "biggest barrier" and the positives of merging Iraqi and Arab banks
Yesterday at 9:29 am by Rocky
» The House of Representatives adjourns its session
Yesterday at 9:24 am by Rocky
» Parliamentary demands to expedite the legislation of the Eid al-Ghadir holiday law (documents)
Yesterday at 9:23 am by Rocky
» Parliament adds the paragraph “Electing the Speaker of the House of Representatives” to its agenda
Yesterday at 9:21 am by Rocky
» Alsumaria publishes the text of the law against prostitution and homosexuality
Yesterday at 9:20 am by Rocky
» A parliamentarian reveals the reason for the failure of the Speaker of Parliament to pass during tod
Yesterday at 9:19 am by Rocky
» Al-Sudani: The government has launched many strategies and initiatives that will improve the reality
Yesterday at 8:42 am by Rocky
» International Business: Iraq has made progress in supporting businesses through investment and priva
Yesterday at 8:33 am by Rocky
» Association of Banks: Iraq is witnessing great development in the transition to electronic governmen
Yesterday at 8:25 am by Rocky
» The House of Representatives votes to add an item to its agenda (election of the Speaker of the Hous
Yesterday at 8:22 am by Rocky
» Parliamentary integrity: Combating corruption requires parliamentary legislation
Yesterday at 8:15 am by Rocky
» Al-Karaawi: America is trying to restrict Iraq
Yesterday at 8:13 am by Rocky
» The State of Law coalition moves to form the local government in Diyala
Yesterday at 8:12 am by Rocky
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
Yesterday at 8:11 am by Rocky
» Prime Minister's Advisor: We will see the dollar fall on the black market soon
Yesterday at 8:09 am by Rocky
» The Sunni blocs are resolute. The presidency of the Council is ours, away from Al-Halbousi
Yesterday at 8:08 am by Rocky
» Al-Sudani discusses with a workers’ organization his government’s steps in this field
Yesterday at 7:58 am by Rocky
» Parliament holds its session in the presence of 170 deputies
Yesterday at 7:57 am by Rocky
» In the presence of Nechirvan Barzani and Al-Sudani... the State Administration Coalition holds an “i
Yesterday at 7:55 am by Rocky
» The UAE company ADNOC resorts to Iraqi oil. Find out the reasons
Yesterday at 7:53 am by Rocky
» The Iraqi Parliament votes to add an item to elect a president to its agenda
Yesterday at 7:52 am by Rocky