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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


    A specialist points out the reasons for the noticeable decline of the dollar in Iraq: It will reach

    Rocky
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    A specialist points out the reasons for the noticeable decline of the dollar in Iraq: It will reach Empty A specialist points out the reasons for the noticeable decline of the dollar in Iraq: It will reach

    Post by Rocky Wed 20 Mar 2024, 10:16 am

    A specialist points out the reasons for the noticeable decline of the dollar in Iraq: It will reach the official price
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    Baghdad today - Baghdad 
    Today, Wednesday (March 20, 2024), the expert in financial and economic affairs, Ahmed Al-Tamimi, explained the reasons for the decline in the dollar exchange rate in the parallel market.
    The past few days have witnessed a noticeable decline in the exchange rate of the dollar against the Iraqi dinar in the parallel market, reaching at times 149 thousand dinars for every 100 dollars. 
    Al-Tamimi told “Baghdad Today” that “the continuous decline in the dollar exchange rate in the parallel market confirms the government’s success in the dollar issue, controlling the crisis and preventing its aggravation,” expecting “this decline to continue gradually over the coming days, until it reaches the official price.” .
    He explains that “the measures and decisions by the government and the Central Bank have contributed greatly to limiting the rise of the dollar and controlling the market, especially with regard to cleaning up foreign remittances, as well as finding ways to finance foreign imports in currencies other than the US dollar, and other measures that the government has proven successful in this file.” .
    On (March 14, 2024), the Governor of the Central Bank, Ali Al-Alaq, announced an understanding with the US Treasury to reconsider the sanctions imposed on Iraqi banks .
    Al-Alaq said in a press statement, after being hosted by the Parliamentary Finance Committee, and followed by “Baghdad Today”, that “the process of printing the local currency takes place according to the required financial cover .  ”
    He pointed out that "the instability of the exchange rate is due to the presence of illegal trade carried out by small traders and some speculators .  "
    During the past months, the United States has prevented dozens of Iraqi banks from conducting transactions in dollars as part of a comprehensive campaign against transferring the American currency to Iran and other countries subject to sanctions in the Middle East .
    The US Treasury - in cooperation with the Central Bank of Iraq - imposed stricter controls on financial transfers in the country in general .
    As a result, the value of the Iraqi dinar declined against the dollar and the prices of imported goods rose. However, the Iraqi government took a number of measures to limit this rise and control the parallel market by striking currency smugglers at times, prosecuting speculators, and searching for an alternative to the dollar in commercial transactions at other times, which contributed significantly to the recovery. The Iraqi dinar again against the US dollar. 
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