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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


    Expecting a "jump in the exchange rate"... The Chamber of Commerce proposes a "salary dollar" propos

    Rocky
    Rocky
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    rate - Expecting a "jump in the exchange rate"... The Chamber of Commerce proposes a "salary dollar" propos Empty Expecting a "jump in the exchange rate"... The Chamber of Commerce proposes a "salary dollar" propos

    Post by Rocky Wed 08 Nov 2023, 4:46 am

    Expecting a "jump in the exchange rate"... The Chamber of Commerce proposes a "salary dollar" proposal.
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     Baghdad Today - Baghdad 
    The price of the dollar continues to rise in the parallel market amid expectations of a “new jump” in the exchange rate, especially since many private banks are “a front for political parties,” according to specialists. [You must be registered and logged in to see this image.]
    "Salary Dollar" Proposal 
    Today, Wednesday (November 8, 2023), the Diyala Chamber of Commerce introduced what it called the “salary dollar” temporarily to limit the rise in the parallel market.
    The head of the Diyala Chamber of Commerce, Muhammad al-Tamimi, said in an interview with “Baghdad Today,” that “the rise in the dollar exchange rate in the parallel market in recent days is worrying, especially with assurances from experts that the rise will not remain at limits ranging between 160-170 thousand dinars for every $100.” "In fact, it may jump to higher numbers."
    He adds, "The rise in the exchange rate in the parallel market indicates the presence of influential parties, some of which are deeply embedded in state institutions, and do not want to abandon the river of money that flows into the pockets of politicians and elites under various titles."
    He pointed out that "a not insignificant portion of the banks are fronts for political parties and blocs," noting that "the psychological state constitutes another factor in raising the dollar, with many refusing to give it up. Some of them even began to push to change the cash they have in Iraqi dinars into dollars out of greed." In other profits and for fear that the national currency will lose more strength in the face of the rise of the parallel market.”
    Al-Tamimi called for "adopting the experience of granting part of employees' salaries in dollars temporarily and according to the official price of the dollar, away from the currency auction, which is subject to powerful banks and financial forces that profit daily tens of billions of dinars within seconds with the difference in currency between the official and the parallel."
     He stated that “giving employees dollars will achieve stability and prevent the auction from being exploited to increase the wealth of powerful parties.”
    Governmental reasons and intentions 
    In recent days, the exchange rate of the dollar against the Iraqi dinar has witnessed a significant rise, approaching 170,000 dinars for every 100 dollars, which has become a burden on the Iraqi citizen who is struggling to provide a living. 
    On (November 6, 2023), Member of Parliament Hussein Habib identified the reasons for the rise of the dollar in the country at an accelerating pace in the past weeks, stressing that the intentions of Prime Minister Muhammad Shiaa Al-Sudani are not sufficient to contain the parallel market crisis.
    Habib said in an interview with “Baghdad Today” that “the dollar crisis in Iraqi markets is primarily linked to internal factors, most notably the mishandling of the currency and its monopoly by mafias and influential parties, as well as smuggling. As for external factors, they are linked to the political situation of the government and the extent of its acceptability by Washington.” The sponsor of the dollar and the official currency. 
    He added, "The Sudanese government has actually begun to take steps to address currency smuggling and prevent its circulation in the hands of mafias and influential parties, but they are not sufficient and must be strengthened with other steps to ensure that the dollar reaches those who need it, whether for trade, travel, or treatment, to confront its steady rise in the markets." 
    He pointed out that "the arrest of speculators and the tightening of the mechanisms for granting the dollar have an impact, but it remains limited, and attention must be given to another issue that is the most important by activating factories and laboratories to meet the needs of the markets and reduce the export of the dollar abroad because the proportion of Iraq's imports has reached the peak level due to the absence of national production." 
    He continued: "The state's monopoly on the import file for medicines and basic materials is important in order to limit speculation and for the dollar to be allocated to specific segments and to push merchants to rebuild factories and give all facilities and support in order to end the dollarization file in the markets and adopt the national currency in all internal transactions."
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