Established in 2006 as a Community of Reality

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Neno's Place Established in 2006 as a Community of Reality


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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 dinar is declining against the dollar.. and commercial exchanges with Iran are in the Iraqi curr

    Rocky
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    • Post n°1

    The dinar is declining against the dollar.. and commercial exchanges with Iran are in the Iraqi curr Empty The dinar is declining against the dollar.. and commercial exchanges with Iran are in the Iraqi curr

    Post by Rocky Sun 09 Jul 2023, 10:12 am

    [size=38]The dinar is declining against the dollar.. and commercial exchanges with Iran are in the Iraqi currency[/size]


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    July 9, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk Al-Hadath: The exchange rates of the US dollar decreased against the Iraqi dinar, on Sunday, in the Baghdad markets, while Iraq and Iran agreed on commercial transactions in dinars, and all of this is in favor of the local currency, but foreign transfers abroad are still continuing at a high pace, and in amounts Very large, which affects the liquidity inside the country, as well as the value of the national currency.
    The commercial adviser to the Iranian embassy in Iraq, Abd al-Amir Rabihawi, said at the meeting of the Iranian-Iraqi Joint Chamber that all exchanges between businessmen will be carried out in dinars instead of dollars.
    Despite all these positive developments, the crisis of the exchange rate of the dinar against the dollar still exists in Iraq, since late last year, which is witnessing fluctuations despite the measures taken by the Central Bank in the country with the aim of pushing the stability of currency prices.
    And he received the reasons for the rise in merchants and banking transactions, as this rise settled at 1460 dinars per dollar.
    The liquidity of the dinar leads to an increase in the demand for the dollar, whether through the window of selling the currency to meet the consumables or through the parallel market.
    Iraq spends no less than 109 trillion on salaries.
    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 the markets in conjunction with increasing of demands.
    The exchange rates of the dinar, including its relative strength or weakness against the US dollar, are affected by several factors.
    Iraq's general economic conditions play an important role. And with slower economic growth, high inflation, or political instability, it can undermine investor confidence in the dinar. As a result, the demand for the dinar decreases, causing its value to drop against stronger currencies such as the US dollar.
    Different interest rate policies between countries affect exchange rates. And if the US Federal Reserve raises interest rates, it can attract capital inflows from foreign investors looking for higher returns. This increased demand for dollars can lead to a strengthening of the US dollar compared to other currencies.
    The currency markets in Iraq are affected by speculators who anticipate future movements in exchange rates. Speculators can bet on the currency, which can lead to its depreciation if their actions are large enough.
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