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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


    Pessimistic reading: The dollar crisis continues in Iraq

    Rocky
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    • Post n°1

    Pessimistic reading: The dollar crisis continues in Iraq Empty Pessimistic reading: The dollar crisis continues in Iraq

    Post by Rocky Fri 28 Jul 2023, 4:27 am

    [size=45][size=41]Pessimistic reading: The dollar crisis continues in Iraq[/size]
     15 hours ago
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    Economic expert Mahmoud Dagher expected the continuation of the dollar crisis, attributing this to Iraq's continuation of trade with Iran, which is under sanctions by the United States of America.
    Dagher said in a press interview seen by Taqaddam, that “isolating the economy from politics is a difficult matter, and that the content of the current crisis in its reality is the struggle between the United States and Iran, and mainly the nature of trade relations between Iraq and Iran.”
    He explained, "Expectations in such crises are difficult, because Iraq practices a trade of nearly 10 billion dollars, and therefore an amount of millions of dollars is withdrawn every month, and this is difficult to stop."
    Dagher added, "What is happening now are reactions, and we expect to take subsequent measures that may reduce the crisis, but will not end it, because the crisis will continue as long as there are sanctions on neighboring countries and Iraq trades with them."
    The official exchange rate is 1320 dinars to the dollar in the Iraqi budget, but today, Wednesday, the parallel rate witnessed a strong rise in the markets of Baghdad, and in Erbil, the capital of the Kurdistan Region, where it reached 157 thousand dinars for every $100.
    This comes after Washington imposed sanctions on 14 Iraqi banks, in a crackdown on Iran's dealings in dollars.
    The Iraqi parliament moved to address the crisis, and the Finance Committee hosted the Governor of the Central Bank, Ali Al-Alaq, to ​​also discuss the bank's measures to stabilize currency prices. Almost since the beginning of this year, the Central Bank of Iraq launched a working mechanism in an electronic platform and the international financial transfer system “SWIFT”, but this did not help the dollar exchange rates to stabilize in Iraq, despite the attempts of the government and the central bank to control the exchange rate in the parallel (black) markets. ).
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