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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 parallel market has become more powerful.. Chambers of Commerce set 3 points to secure the doll

    Rocky
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    • Post n°1

    ​The parallel market has become more powerful.. Chambers of Commerce set 3 points to secure the doll Empty ​The parallel market has become more powerful.. Chambers of Commerce set 3 points to secure the doll

    Post by Rocky Sun 08 Oct 2023, 10:18 am

    ​The parallel market has become more powerful.. Chambers of Commerce set 3 points to secure the dollar at the official rate
    [You must be registered and logged in to see this link.] |Today
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    Baghdad today - Baghdad
    The exchange rate in the parallel markets is still recording a significant increase compared to the official rate, while the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel (black) markets.
    The power of the dollar,
    the head of the chambers of commerce in Diyala, Muhammad Al-Tamimi, said in an interview with “Baghdad Al-Youm” that, “about 8 months ago, the Central Bank set an official exchange rate for the dollar, but the truth is that the parallel market has become more powerful, and the difference between them is very high, and it is burdening the shoulders of millions of simple and poor people.” Wondering where the Central Bank’s procedures are.”
    Despite the approval of the country's general budget, and the Central Bank selling more than $200 million per day, many questions are being asked about the reason for the continued rise in the exchange rate.
    Corruption and complaints
    Al-Tamimi added, “The dollar breaking the exchange barrier of 160,000 dinars for every 100 dollars calls for reconsidering the plans of the Central Bank and making changes that contribute to correcting the situation in a way that does not lead to exhausting the markets and raising prices to alarming levels,” pointing out that “even simple measures are taken to secure the dollar.” At the official price for multiple packages, they did not arrive correctly, and there are negatives and corruption, and the complaints are countless.”
    Al-Tamimi pointed out that "the Central Bank's efforts to reduce the parallel market are ink on paper. The evidence is that the level of difference between them is very high, and all indicators indicate that prices are on their way up, which means more pressure on the markets."
    Prime Minister Muhammad Shiaa Al-Sudani repeatedly confirmed that the exchange rate would decline immediately after the approval of the country's general budget, which was confirmed by many government officials over the past months, but that has not happened so far.
    Economic crisis
    Yesterday, Saturday (October 7, 2023), Kurdish politician Latif Al-Sheikh warned of a stifling economic crisis as a result of the continued rise in the price of the dollar.
    The Sheikh said in an interview with “Baghdad Today” that “two parties are bearing the crisis of the continuing rise in the dollar exchange rate, namely the Central Bank and the Association of Iraqi Banks.”
    He added, "The two parties failed to resolve the crisis and profited at the expense of the citizen, who was a victim of the large disparity in the official and parallel prices," noting that "those who benefited were the banks and private companies, and we warn of a catastrophic economic crisis."
    Dollar prices are still flying in the parallel market with a large difference from the official exchange rate, as selling prices in exchange shops in the capital, Baghdad, today, Sunday, reached 159,500 Iraqi dinars for every 100 US dollars, while purchasing prices recorded 157,500 Iraqi dinars for every 100 US dollars.
    Private banks are accused of taking over the largest part of the currency selling window, especially for the cash dollar, which has become extremely difficult for travelers to obtain, which forces them to buy the dollar from the parallel market, while the travelers’ share of the dollar in these banks goes for the purpose of speculation.
    Source: Baghdad Today
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