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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


    Central Bank doubles the share of banking companies from the dollar to curb the rise

    Bama Diva
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    • Post n°1

    Central Bank doubles the share of banking companies from the dollar to curb the rise Empty Central Bank doubles the share of banking companies from the dollar to curb the rise

    Post by Bama Diva Thu 09 Apr 2015, 8:12 am


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    April 9, 2015 13:43


    Thursday, doubling the share of banking companies of the dollar, while allowing banks Rafidain and Rasheed and Trade open windows to sell the dollar for banking companies and small importers to reduce the high rate of exchange in front of the Iraqi dinar.

    The central bank said, in a brief statement issued today that he "decided to double the share of banking companies of the dollar."
    He said the central bank, that "allowed the banks Rafidain and Rasheed and Trade open windows to sell dollars to banking companies and small importers."


    The past few days have seen a significant rise in the US dollar against the Iraqi dinar for up to 1,340.


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    Bama Diva
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    • Post n°2

    Central Bank doubles the share of banking companies from the dollar to curb the rise Empty Central Bank to take new measures to stop the decline of the dinar

    Post by Bama Diva Thu 09 Apr 2015, 8:27 am

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    • Thursday, 09 April 2015 14:12



    Shafaq News / Central Bank of Iraq (CBI ) announced on Thursday taking new action to stop the continuous decline of the dinar against the dollar since late last year.


    The bank said in a statement reported for "Shafaq News" that “ it was decided to double the share of banking companies of the dollar in auctions of selling foreign exchange.”


    He added that it was also decided to allow al-Rafidain , al-Rasheed banks and Trade Bank of Iraq (all governmental) to open places for selling the dollar for companies and importers.


    The bank said that the target of the new measures is to reduce the price of the dollar against the local currency.


    The dollar price in domestic markets to the dinar has raised gradually to reach 1229 dinars to the dollar compared to 1225 dinars to the dollar over the past month and 1200 dinars to the dollar late last year in 2014.


    The decline came after the bank lowered its sales from the dollar to $ 75 million a day in the current year while it was $ 250 million a day in the past.
    The bank was forced to reduce the daily sales of foreign exchange as a result of falling oil prices to around $ 50 per barrel since the summer of last year.


    Iraq relies on the sale of oil revenues to fund 95 percent of the expenses.


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    Bama Diva
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    • Post n°3

    Central Bank doubles the share of banking companies from the dollar to curb the rise Empty Iraq is increasing sales of the dollar to stop the decline of the local currency

    Post by Bama Diva Fri 10 Apr 2015, 6:30 pm


    Iraq is increasing sales of the dollar to stop the decline of the local currency
    Posted       10/04/2015 05:43 PM


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    [rtl]BAGHDAD agencies: the Iraqi Central Bank yesterday said he had decided to take action to stop the decline of the local currency (the dinar) against the dollar in the local foreign exchange market, by doubling the share exchange companies in auctions selling foreign exchange. And open ports to sell the dollar in a number of government banks.[/rtl]


    [rtl]And the decline of the Iraqi dinar exchange rate against the US dollar in the local foreign exchange market to reach its lowest level in almost two years. The dollar stood before yesterday dinars in 1350, compared to 1280 dinars in the past week, up 5.5 percent. The bank said it decided to allow banks Rafidain and Rasheed, and the Iraqi Trade (government) to open outlets to sell the dollar companies and small importers. [/rtl]


    [rtl]In a report issued in March 19 / March last, International Monetary Fund cut its forecast for the growth of the Iraqi economy to 1% during the current year, from a previous forecast last January, a growth of 2.5%, to conform to the current forecast with recent government estimates of the Central Bank of Iraq [/rtl]

    [rtl]Fund report estimated the Iraqi economy to achieve a contraction of 2% in 2014, which was the first contraction of the economy since the US-led invasion of Iraq in 2003.[/rtl]


    [rtl]He said economists and traders Iraqi Iraqi markets are experiencing a recession clearly affected by the financial crisis plaguing the country. Reflected this notoriously on commercial traffic - especially with the rise in the dollar exchange rate - and also the government's delay in salary payments.[/rtl]


    [rtl]The case of the recession to pay merchants to sell their goods on credit (and subsequent payment). Some also saw an increase in the prices of goods compared to the end of last year amid rising dollar exchange rate against the Iraqi dinar to its highest level in almost two years.[/rtl]

    [rtl]In Shorja market, the largest commercial markets in the capital, Baghdad, Saad Al Falah is busy arranging the ranks of his shop, which sells food after he found himself spending hours without customers which was not familiar with before.Falah said in his speech that his store sales fell by 25 percent, at least at the moment compared to the same period last year[/rtl]

    [rtl]He added: »economic crisis in Iraq greatly affected us as Iraqis and private traders. Many retailers are now cutting back the size of their purchases because they are affected by the very crisis plaguing the country. »[/rtl]

    [rtl]Iraq is facing an economic crisis that forced him to reduce the size of the financial budget as a result of lower oil prices by more than 50 percent since the middle of last year and begin a policy of austerity. And announced that the Iraqi Ministry of Finance earlier it would increase[/rtl]
     taxes on some of the services provided.


    [rtl]The farmer said that a lot of customers are starting to reduce private purchases of luxury goods. Understanding confined to buy basic goods and important because some of them are suffering from delayed delivery of salary and others worried about buying more because of the circumstances that prevailed in the country.[/rtl]

    [rtl]Majid said Kettani, who owns a shop selling food market in the fourth police southwest of the capital Baghdad, said that the market is suffering from the consequences of the crisis experienced by Iraq. He added: «Proof of this is that some of the top traders have begun to send their delegates to promote their goods and give incentives to retailers such as selling on credit or afford transport fares in order to stimulate sales movement.»[/rtl]


    [rtl]Kanani said that the crisis experienced by Iraq «affected all segments of society. Many citizens do not have enough money to buy all their needs and some of them buy on credit, pending receipt of his salary. » He said that some of the goods increased private basic ones their prices because of several factors including the rise of the dollar in the foreign exchange market. »[/rtl]

    [rtl]She said an economic expert and a professor in the Department of Economics at the University of Baghdad peace Sumaisem The government delayed the payment of government salaries and behind the economic recession started dogging commercial markets. She added that there are some government agencies delayed payment of salaries for a month or two because of the economic crisis plaguing the country because of low oil prices.[/rtl]

    [rtl]It is noteworthy that Iraq Iatmdaly oil imports to finance 95 percent of the budget, and produces about 2.5 million barrels per day, with expectations to increase production to 4 million barrels per day. Sumaisem said: «Of course the movement of trade in the markets affected by it because the owners of the largest purchasing power in the market are the owners of middle-income, mostly from staff».[/rtl]


    [rtl]The economic expert to be the continuation of the crisis depends on the government's policies to address this and address it. The government called for the middle-income in real wages and the imposition of taxes on people with high incomes. »[/rtl]


    [rtl] The governor of the Central Bank of Iraq, the relationship, the high price of the dollar «is still within acceptable limits».He attributed that to the new system, which followed the central bank to sell the currency in order to reduce money laundering.[/rtl]

    [rtl]Central Bank and follow a new policy to sell the dollar for importers and that by requiring traders to submit documents proving the volume and value of imported materials with customs duties and taxes upfront deduction. He also played down the sales of the dollar to banks and exchange offices to quarter[/rtl]

    [rtl]Central Bank of Iraq and held six auctions a week from Saturday to Thursday for the sale of foreign currencies, so as to provide dollar liquidity to the local market. The official price for the sale of Bank of dollars to domestic banks and exchange offices 1166 dinars.[/rtl]

    [rtl]The central bank cut its sales from the dollar to $ 75 million a day after it was 250 million. This move came at the request of the Iraqi Council of Representatives, which obliged the central bank not to sell more than 75 million dollars and place it within the budget approved in February of this year terms[/rtl]


    [rtl]The aim  of the bank behind the organization of currency auctions to stabilize the exchange rate of the local currency against foreign currencies. He is careful to put the dollar at prices below the real exchange him in the local market price[/rtl]

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    • Post n°4

    Central Bank doubles the share of banking companies from the dollar to curb the rise Empty Re: Central Bank doubles the share of banking companies from the dollar to curb the rise

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