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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


    Economist: Kurdish traders' entry into the dollar selling platform contributed to lowering the excha

    Rocky
    Rocky
    Rocky
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    Join date : 2012-12-21
    • Post n°1

    Economist: Kurdish traders' entry into the dollar selling platform contributed to lowering the excha Empty Economist: Kurdish traders' entry into the dollar selling platform contributed to lowering the excha

    Post by Rocky Sat 31 Aug 2024, 4:45 am

    Economist: Kurdish traders' entry into the dollar selling platform contributed to lowering the exchange rate - Urgent
    [You must be registered and logged in to see this link.] |Today,
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    Baghdad Today - Baghdad
    Today, Saturday (August 31, 2024), the economic expert and academic at Cihan University, Nawar Al-Saadi, said that Kurdish traders benefited from the Iraqi government’s official dollar selling platform and contributed to reducing the exchange rate.
    Al-Saadi told Baghdad Today, "There is an entry of traders from the Kurdistan Region into the official dollar selling platform, and these traders benefited from obtaining the dollar at the official exchange rate, instead of buying from the parallel markets that witness higher prices," indicating that "this influx of dollars into the market contributed greatly to increasing the supply, which led to reducing the price."
    “The issue is not limited to this factor alone, as Iraqi markets suffer from frequent fluctuations due to economic and political instability, and speculators exploit any change in the market to achieve quick gains, which increases chaos in the exchange market,” he added, noting that “rumors about possible changes in the exchange rate have prompted many to sell the dollar at low prices for fear of future declines, which has increased pressure on the dollar price.”
    Al-Saadi said, "There are ongoing discussions between the Central Bank of Iraq and the US Federal Reserve, which could have a significant impact on the exchange rate," stressing that "the results of these meetings will be decisive in determining the future direction of the dollar price in the Iraqi market. If specific agreements are reached, we may see significant changes in the exchange rate based on those results."
    It is noteworthy that the financial affairs specialist, Nabil Jabbar Al-Tamimi, confirmed on Saturday (August 3, 2024) that the dollar exchange rate in the parallel market will remain higher than the official price due to the failure of the Central Bank to find solutions for black transfers.
    Al-Tamimi told Baghdad Today, "The continued rise in the dollar exchange rate in the parallel market is due to the continuation of black transfers to finance some foreign trade by some merchants, without finding any solutions for these merchants by the Central Bank of Iraq."
    He explained that "the Central Bank of Iraq is required to find quick solutions and procedures for these traders, especially small traders, who have almost daily trade with Iran, Syria and some other countries banned from dealing in dollars."
    He pointed out that "these traders are moving towards the black market in order to finance their trade, and this is what leads to the exchange rate remaining high in the parallel market by a large difference from the official price, and this is the responsibility of the Central Bank, as it is responsible for this file."
    The dollar exchange rate returned to rise relatively today, touching 150 thousand on the stock exchange, maintaining this level since Eid al-Adha, where it rose from 1450 dinars to around 150 thousand dinars or less, and has stabilized in this range until now.
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    Rocky
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    Join date : 2012-12-21
    • Post n°2

    Economist: Kurdish traders' entry into the dollar selling platform contributed to lowering the excha Empty Economist: Kurdish traders' entry into the dollar selling platform contributed to lowering the excha

    Post by Rocky Sat 31 Aug 2024, 4:51 am

    Economist: Kurdish traders' entry into the dollar selling platform contributed to lowering the exchange rate - Urgent
    [You must be registered and logged in to see this link.] |Today,
    [You must be registered and logged in to see this image.]

    +A
    -A


    Baghdad Today - Baghdad
    Today, Saturday (August 31, 2024), the economic expert and academic at Cihan University, Nawar Al-Saadi, said that Kurdish traders benefited from the Iraqi government’s official dollar selling platform and contributed to reducing the exchange rate.
    Al-Saadi told Baghdad Today, "There is an entry of traders from the Kurdistan Region into the official dollar selling platform, and these traders benefited from obtaining the dollar at the official exchange rate, instead of buying from the parallel markets that witness higher prices," indicating that "this influx of dollars into the market contributed greatly to increasing the supply, which led to reducing the price."
    “The issue is not limited to this factor alone, as Iraqi markets suffer from frequent fluctuations due to economic and political instability, and speculators exploit any change in the market to achieve quick gains, which increases chaos in the exchange market,” he added, noting that “rumors about possible changes in the exchange rate have prompted many to sell the dollar at low prices for fear of future declines, which has increased pressure on the dollar price.”
    Al-Saadi said, "There are ongoing discussions between the Central Bank of Iraq and the US Federal Reserve, which could have a significant impact on the exchange rate," stressing that "the results of these meetings will be decisive in determining the future direction of the dollar price in the Iraqi market. If specific agreements are reached, we may see significant changes in the exchange rate based on those results."
    It is noteworthy that the financial affairs specialist, Nabil Jabbar Al-Tamimi, confirmed on Saturday (August 3, 2024) that the dollar exchange rate in the parallel market will remain higher than the official price due to the failure of the Central Bank to find solutions for black transfers.
    Al-Tamimi told Baghdad Today, "The continued rise in the dollar exchange rate in the parallel market is due to the continuation of black transfers to finance some foreign trade by some merchants, without finding any solutions for these merchants by the Central Bank of Iraq."
    He explained that "the Central Bank of Iraq is required to find quick solutions and procedures for these traders, especially small traders, who have almost daily trade with Iran, Syria and some other countries banned from dealing in dollars."
    He pointed out that "these traders are moving towards the black market in order to finance their trade, and this is what leads to the exchange rate remaining high in the parallel market by a large difference from the official price, and this is the responsibility of the Central Bank, as it is responsible for this file."
    The dollar exchange rate returned to rise relatively today, touching 150 thousand on the stock exchange, maintaining this level since Eid al-Adha, where it rose from 1450 dinars to around 150 thousand dinars or less, and has stabilized in this range until now.
    [You must be registered and logged in to see this link.]
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