by Rocky Wed 22 Nov 2023, 10:43 am
Yesterday, 21:01The Iraqi government intends to eliminate the US dollar and buy imported goods in the local currency.The American website "The Wolf" w... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Yesterday, 21:01
The Iraqi government intends to eliminate the US dollar and buy imported goods in the local currency.
The American website "The Wolf" wrote a report translated by "Press", that "Iraq is considering the establishment of a free trade zone to sell imported goods in the local currency of the Iraqi dinar," pointing out that "this step would benefit consumers from competitive prices and help the dinar to grow stronger in the currency market."
The report added that “the free trade zone in Iraq is following in the footsteps of the BRICS countries that want to reduce dependence on the US dollar. Iraqi consumers are expected to benefit from this development because buying imported goods in local currency in dinars will be cheaper.”
"The Iraqi government intends to simplify import procedures while ensuring the use of the dinar in transactions, as Iraq looks forward to eliminating the US dollar and limiting its use to sell imported products," the US website continued.
It is noteworthy that the economist, Mustafa Hantoush, confirmed in a previous interview with "Al-Press", that "the federal government and the Central Bank have taken important measures to increase the presentation of the dollar at the official price, especially after Iraqi banks strengthened their accounts in foreign currencies, including the euro, the UAE dirham and the Indian rupee."
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This article supports that the Iraqi Dinar is about to be increased in value. They tell us that the price of products will go down because of the ability to use the dinar. This also supports that currency swaps have been completed through multiple countries and Iraq’s ready to do business.
The government is insuring that they’re going to be able to use dinar to buy products is absolutely amazing. Especially coming on the back of the WTO meetings and showing that exports are leaving Iraq out to Kuwait today, very supportive.
PURCHASING POWER …… Imo ~ MM | | | |
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