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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


    Warning of a new rise in prices and an increase in demand: The dollar does not reach travelers

    Rocky
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    • Post n°1

    Warning of a new rise in prices and an increase in demand: The dollar does not reach travelers Empty Warning of a new rise in prices and an increase in demand: The dollar does not reach travelers

    Post by Rocky Thu 12 Oct 2023, 9:14 am

    Warning of a new rise in prices and an increase in demand: The dollar does not reach travelers
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    Baghdad today - Baghdad 
    Experts in economic affairs warned of the repercussions of some banks not handing over dollars to “travelers,” while stressing that the continuation of the matter would lead to an increase in demand for the dollar in the parallel market and thus an increase in the exchange rate. 
    Economic affairs expert Ahmed Al-Tamimi said today, Thursday (October 12, 2023), that “many banks have refrained over the past few days from giving travelers the dollar under the pretext of not having the currency.”
    Al-Tamimi indicated in an interview with “Baghdad Today” that “this matter prompted many travelers to buy the dollar from the parallel market, which caused them great financial losses due to the difference in the exchange rate from the official one.”
    He pointed out that "this measure will generate a large demand for the dollar in the parallel market, and here the dollar will rise significantly due to this increase," calling on "the competent authorities to follow up on the work of the banks, which are the reason for the rise in the dollar exchange rate."
    The dollar exchange rate witnessed a noticeable increase in the past few days, exceeding the barrier of 160 thousand dinars per 100 dollars, while the Central Bank took many measures and decisions to prevent the circulation of the dollar in local markets above the official price (1320), but to no avail, despite the fact that the dollar is its only source. The Central Bank, although those who take the dollar, namely private banks and exchange companies, are known to it, but it is unable to control them and oblige them not to leak dollars through fake transfers, according to observers. 
    Earlier, independent MP Hadi Al-Salami confirmed, “The current failure in the US dollar issue is borne by all the Iraqi governments that have ruled the country since 2003 until now. The government of Muhammad Shiaa Al-Sudani has pledged to solve the crisis by establishing mechanisms that prevent the smuggling of hard currency, but they are... "You did not succeed in this file." 
    Al-Salami added in a press interview, “Reforming the banking system and the dollar crisis requires controlling the currency auction, which is still selling large amounts of dollars, and we do not know where it goes,” noting that “the problem is big in Iraq, and we are facing huge challenges that may lead to... The current system has cracked, especially since the United States of America has often warned against smuggling the dollar to neighboring countries.”
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