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Neno's Place Established in 2006 as a Community of Reality


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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


    But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C

    Rocky
    Rocky
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    But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C Empty But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C

    Post by Rocky Sun 12 May 2024, 6:38 am

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    [size=52]But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The Central Bank is optimistic: We will not stop before 1320[/size]

    [size=45]Dollar prices continue to fluctuate and fall below 1450, and Ammar Hamad Khalaf, Deputy Governor of the Central Bank, says that the relative decline in the exchange rate is due to the increasing number of private sector companies that finance their investments through the Central Bank’s platform and its official channels, in addition to the bank meeting any demand for the dollar related to financing. foreign trade,[/size]
    [size=45]Because it has huge reserves exceeding $100 billion, while economic expert Nabil Al-Tamimi confirms that adopting private banks that have direct accounts with foreign correspondent banks created a new path for remittances instead of restricting them to the platform only, which increased the volume of sales.[/size]
    [size=45]However, the representative of exchange companies in Iraq, Dhia Al-Taie, presents a pessimistic view, as he says that money exchangers are experiencing a stagnation in business, and there is no speculation, due to instability, stressing that the current decline in the exchange rate will not continue and will rise again during the next few days, because Washington did not take any actual decision to reduce the exchange rate, such as increasing the share of the dollar or lifting sanctions on punished banks, considering what is happening to be merely manipulation of the price.[/size]
    [size=45]Ammar Hamad Khalaf - Deputy Governor of the Central Bank, to the 964 network:[/size]
    [size=45]Transactions are made in dollars, whether through the platform or our other official channels to finance foreign trade.[/size]
    [size=45]The Central Bank's sales rate is almost stable and the numbers are published on a daily basis, fluctuating between an increase and a slight decrease.[/size]
    [size=45]What has changed now is the presence of large trade for private sector companies, as these companies realized the importance of investment and conducted their activities through the platform, official channels, and approved banks in Iraq.[/size]
    [size=45]We have a very large reserve of more than $100 billion, and we are ready to meet any demand related to foreign trade as long as it is real.[/size]
    [size=45]Our primary goal is to eliminate the gap between the official exchange rate and the black market, and for the decline to reach 1320 on a steady and permanent basis, and we seek to reach this as long as we have sufficient reserves to meet any demand for the dollar according to the official rate.[/size]
    [size=45]There is high coordination and continuous communication between the management of the Central Bank and the government.[/size]
    [size=45]Nabil Jabbar Al-Tamimi - researcher in economic affairs for the 964 Network:[/size]
    [size=45]It cannot be denied that there is speculation in the market, but monitoring and analyzing the financial cycle in Iraq reveals that the Central Bank’s sales rose by 30%, sometimes reaching $300 million. This means including the largest number of traders entering the currency selling window in an official manner, which means keeping them away. About the parallel market.[/size]
    [size=45]A month ago, the Central Bank’s sales increased significantly due to a major factor, which is the change in the path of transfers. Previously, they were limited to a platform managed by the Central and Federal Banks. This resulted in a delay in merchant transfers for weeks, and now there are transfers from private banks that were able to open direct accounts with the bank. Foreign correspondent banks, in addition to platform remittances, so the presence of two remittance channels increases the percentage of sales.[/size]
    [size=45]There are 3 factors that affect the manipulation of the exchange rate. The first is geopolitical related to dealings with the Federal Reserve and the US Treasury, and the second is; An internal factor related to sales mechanisms and sales volume, in addition to merchants’ access to the dollar, and the third is the speculation factor. There are diagnosed cases and influential pages on social media sites, but it remains within a certain limited margin.[/size]
    [size=45]Diaa Al-Taie - representative of exchange companies in Iraq, for the 964 network:[/size]
    [size=45]There is media coverage of the decline in the exchange rate as a result of resolving the issue of frozen banks, even though the US Treasury promised Sudanese to resolve the issue, but not soon.[/size]
    [size=45]Washington has not taken any current decision regarding the exchange rate. It has not increased the share of the dollar and has not returned any bank to work or lifted the penalty on any party. Therefore, this decrease is a manipulation and not a change in the structure of the Iraqi economy.[/size]
    [size=45]A few days and the exchange rate will rise again because it did not decline based on a real, fixed change in the central bank’s mechanisms for the dollar.[/size]
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