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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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    The Central Bank of Iraq continues its efforts to reduce the dollar .. Authorizing exchange offices

    Rocky
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    The Central Bank of Iraq continues its efforts to reduce the dollar .. Authorizing exchange offices  Empty The Central Bank of Iraq continues its efforts to reduce the dollar .. Authorizing exchange offices

    Post by Rocky Fri 04 Aug 2023, 4:02 am

    [rtl]The Central Bank of Iraq continues its efforts to reduce the dollar .. Authorizing exchange offices to sell the dollar directly[/rtl]

    economy  ,  04/08/2023 10:19  , Number of readings: 162 
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    [rtl]Baghdad - Iraq today:

    The Central Bank identified three categories of exchange companies for selling dollars to travelers, and while revealing a proposal regarding the entry of imported goods through the border crossings, it indicated that there are new decisions that will be issued next week that may contribute to reducing the price of the dollar. 

    Deputy Governor Ammar Hamad Khalaf said in a press statement, "The Central Bank provides exchange companies with weekly quotas of the dollar for the purpose of selling it to travelers at the official price and in limited quantities of 3 thousand dollars per traveler," noting, These exchange companies are licensed through the Central Bank in accordance with the controls. It is in compliance with the Anti-Money Laundering Law.” 

    He added, "One of the basic tasks of all exchange companies A, B, and mediation C is to provide dollars to travelers at the official rate and in the quantity specified by the Central Bank," noting that "there is an electronic platform that The Central Bank has been working on developing since the beginning of this year, and all dollar sales to citizens are done.” Through this platform that is closely monitored by the Central Bank. 

    And he stated, “The Central Bank finances the market in dollars through this platform for categories of merchants and small traders and through exchange companies for travelers only.” And Al-Rasheed through its outlets at airports, while exchange companies are specialized only in the process of selling dollars to travelers. 

    And he stated, “The Central Bank submitted a proposal to the ports and customs, which is that any goods entering Iraq must ensure that the merchant financed these imports through the Central Bank of Iraq,” pointing out, “The printing of the Iraqi currency will not be random.” 

    Regarding the increase in the monetary mass, Khalaf stressed that "the process of increasing the monetary mass is directly linked to the process of increasing the foreign reserves owned by the Central Bank, so any financing for the public treasury is through the exchange of dollars obtained from oil sales with dinars, and therefore any increase in the dinar mass comes mainly from foreign currency.” He stated 

     , "There is no fear of any increase in the monetary mass." 

    On the exchange rate, Khalaf said, "The Central Bank issued several decisions related to the banking sector," explaining that "other decisions will be issued next week, which may contribute significantly to reducing the exchange rate of the dollar." [/rtl]



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