Dealing with Chinese is a funny game.. Iraq’s expectations for 2024: The dollar is above 190.. How m

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[size=52]Dealing with Chinese is a funny game.. Iraq’s expectations for 2024: The dollar is above 190.. How much will America pump and how much will Iran buy?[/size]

[size=45]Baghdad – 964[/size]
[size=45]Three financial experts presented gloomy visions for the hard currency exchange in Iraq for the year 2024, not the least of which was pessimism that the exchange rate would reach more than 190, or even 200,000 dinars. They all pointed out that the fluctuations of the dollar would not bring the dinar closer in the end to the official price, but rather that the rise It will be “inevitable,” as understanding the country’s financial market is exclusively linked to monitoring the changes that will occur in the new year in “the supply of dollars pumped by the US Federal Reserve,” and the demand “which constitutes Iran’s need for dollars.”[/size]
[size=45]According to these experts, who spoke with the 964 network about their expectations for the exchange rate next year, the recent central bank measures and Washington’s restrictions, although they have relieved the bottleneck to a limited extent, will not be able to control the parallel market that finances huge commercial operations, and striking it will lead to a deep imbalance.” In politics and trade.”[/size]
[size=45]A severe financial crisis erupted, the repercussions of which are still present today, following the US Treasury’s decision to prohibit 14 Iraqi banks from dealing with the global transfer system known as “SWIFT” in an attempt to prevent the smuggling of dollars to countries or companies subject to sanctions.[/size]
[size=45]Hammam Al-Shamaa, economic expert for the 964 Network:[/size]
[size=45]Expectations of the dollar exchange rate for the year 2024 depend on two factors, the first is the US Federal position (supply), and the second is related to the border response with Iran (demand).[/size]
[size=45]The Central Bank’s agreement with the American side in Abu Dhabi has not been fully implemented, until today.[/size]
[size=45]The fate of the dollar depends on other events, most notably the fate of the war on Gaza, and the possibility of expanding American intervention. Exchange rates will be affected.[/size]
[size=45]The government cannot touch trade with Iran and will therefore continue to send more hard currency to Tehran.[/size]
[size=45]The Central Bank is taking many measures, but some of them cannot be implemented, such as preventing the circulation of the dollar and relying on the dinar only, due to Iraqis’ lack of confidence in the local currency.[/size]
[size=45]Ahmed Saddam, economic expert for the 964 Network:[/size]
[size=45]It is expected that the dollar exchange rate will continue to fluctuate during the first quarter of next year, even if the Central Bank and the government tighten the current measures, as small traders will continue to evaluate imports through the parallel market and not the Central Bank’s platform.[/size]
[size=45]There is a great chance that over the next year, speculators will continue to raise the exchange rate, and the matter will worsen as smuggling operations continue.[/size]
[size=45]Next year, the Central Bank’s decision to ban dealing in the dollar will come into effect, but its implementation is very difficult and will also lead to an increase in the exchange rate.[/size]
[size=45]Most likely, the rise will be certain, and it is almost impossible to approach the official price of 132 thousand dinars.[/size]
[size=45]There may be changes in the management of the Central Bank, but they will not change the exchange rate. The problem is not entirely related to the bank, but rather to a dysfunctional economy, a large import bill, commercial dealings with sanctioned countries, and an unstable political environment.[/size]
[size=45]Duraid Al-Anazi, economic expert for 964 Network:[/size]
[size=45]The issue of the dollar will not be resolved by the central bank, and its measures have proven to be a failure, even with the restrictions imposed by the US Federal Reserve.[/size]
[size=45]The parallel market is not subject to the law, and will never operate under the controls of the Central Bank of Iraq or the US Federal Reserve.[/size]
[size=45]The parallel market is forced to secure large financial transactions, including $11 billion in trade or imports with Iran, about $4 billion in drug trade, $2 billion in transfers from residents working inside Iraq, $1 billion in transfers from Iraqis to their families abroad, and about $2 billion to internal cash smugglers. .[/size]
[size=45]This amount of dollars exceeds the capacity of the government and the federal government, and even the amounts controlled in the sales window go to the parallel market to avoid political and commercial problems.[/size]
[size=45]The fluctuation in the exchange rate does not indicate the possibility of a decline, because it is an upward fluctuation, and it is expected that in 2024 we will reach 200 thousand dinars for every 100 US dollars.[/size]
[size=45]Bringing banks into the circle of the Chinese yuan, from which we need at least 60 billion yuan, raises major questions. Can banks that still use dollars to accommodate commercial operations in another currency?[/size]
[size=45]This is a joke. “Don’t laugh.” We import from China with yuan, which we buy from international banks with dollars. (What’s wrong with this?)[/size]
[size=45]As for Iran, the toman is one of the currencies approved by the Abu Dhabi meeting. What is strange is that we buy the toman from international markets and they want us to deal with it with Iran.[/size]
[size=45]If Iran is being punished, why is its currency not included in the punishment? It is in global markets and banks, meaning there is global trade with it, but we punish it by order of the Federal Reserve and we buy the toman, and yet Iran does not want the toman from us, but the dollar, and every 42,578 toman is in a dollar. This is a very strange matter.[/size]
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