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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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    Iraqi Banks Association: The dollar will fall to the rate of 1,400 dinars... and the date is expecte

    Rocky
    Rocky
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    rate - Iraqi Banks Association: The dollar will fall to the rate of 1,400 dinars... and the date is expecte Empty Iraqi Banks Association: The dollar will fall to the rate of 1,400 dinars... and the date is expecte

    Post by Rocky Mon 20 Nov 2023, 2:51 pm

    Iraqi Banks Association: The dollar will fall to the rate of 1,400 dinars... and the date is expected
    • Time: 11/19/2023 22:11:27
       
    • Read: 7,995 times

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    {Economic: Al-Furat News} The advisor to the Iraqi Banks Association, Samir Al-Nusairi, expected dollar prices to fall to 1,400 dinars during the first quarter of next year.
    A useful summary of important news can be found on the Al-Furat News channel on Telegram. [You must be registered and logged in to see this link.]
    Al-Nusairi said: For the {State Dialogue} program broadcast by Al-Furat satellite channel this evening, it was stated: “The main source of the dollar is the Central Bank of Iraq, which has taken two measures to control the exchange rate inside Iraq by opening 5 new banks covered by another American bank.”
    He added, "There are 13 Iraqi banks that will deal in the Chinese yen, and 5 new banks that will enhance their balance from Abu Dhabi banks. There are also two Iraqi banks that cover the Indian rupee currency, in addition to two other banks that cover the euro."
    Al-Nusairi held the political news “responsible for raising the price of the dollar,” describing the Iraqi economy as “confused, weak and fragile, affected by all circumstances in the country, both positively and negatively.”
    He stated that "allowing Iraqi banks to bring remittances contributes to reducing the price of the dollar," adding that "trade exchange with India is approximately 3 billion dollars and China is approximately 12 billion, and the current agreement with Turkey is to enhance our bank balances in euros, as it is a stable currency." 
    Al-Nusairi added, "There is a new strategy for the Central Bank called the lending process to implement the government program to exit from... There are many mechanisms and procedures included in the bank's third strategy, and they will be announced after completing all procedures."
    He pointed out that "the exchange rate will fall to the forties under normal circumstances, and this will happen during the first quarter of next year."
    Regarding inflation in Iraq, Al-Nusairi said, “The Central Bank issued a comparison between the inflation rate achieved in Iraq between 2022-2023, which is lower than in regional countries, and the inflation rates in Iraq are the best in the region, and this means that the Central Bank has achieved one of its basic goals.”
    Al-Nusairi concluded by saying, "70% of remittances are not implemented, which has affected the instability of the local market. The US Federal Reserve previously did not mention the reasons, and the new agreement includes mentioning the reasons under which remittances are rejected."
    Wafaa Al-Fatlawi
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