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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


    Sales of central bank reserves and its relationship with Iraq from the dollar

    Rocky
    Rocky
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    Join date : 2012-12-21

    Sales of central bank reserves and its relationship with Iraq from the dollar Empty Sales of central bank reserves and its relationship with Iraq from the dollar

    Post by Rocky Wed 03 Feb 2016, 9:35 am

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    Wednesday, February 3, 2016
     

     
     
    The price of the dollar against the Iraqi dinar days since the rise remarkably, the price reached 1240 dinars per dollar in the domestic market is currently almost that price is fixed days ago but it is not constant over time, we do not know the reasons for this rise and Msoganh because the Central Bank of Iraq covers all purchase orders the so-called Bmzadeh daily, in the session yesterday (Tuesday) has sold 149 039 457 million dollars to 26 bank and 21 for external conversion company selling price of 1190 dinars per dollar, and the bank was able to meet all buying the 47 applications demand and thus sales realized to the dollar across the Central Bank during the current year more than achieved in the previous year, it reached sales of 01/02/2016 to 02/02/2016 amount of $ 3,624,981 billion after it was 2,995,081 dollars for the period from 01/04/2015 to 2/2 / 2015, although these amounts are much less from the sale of Iraqi oil revenues, the main source of foreign currency entering Iraq only the Iraqi Oil Ministry data, oil sales during the month of January last stood at 2.262 billion dollars, the central bank sold more than the total oil revenues more than one billion, three hundred and sixty-two million ID, which requires the search for an answer to two questions:
    I: Where did this money come the central bank which is more than the export of oil revenues?
    Second: why our currency, local prices are falling despite the dollar sales cover the purchase orders?
    We would like to point out here that the exchange rates currently prevailing in the Iraqi market indicate that banking offices win five thousand dinars from the sale of each sheet of $ 100 category, and these profits continuously without effort is noteworthy because the process is summed up buying the dollar from the central bank and sell it to whom He pleases, and in suggesting to the dollar selling outlets are not subject to any control or oversight or accountability by the authorities concerned in the country because the sale is in broad daylight and not in secret, and from the point of view on the sale and purchase of currencies (money changers), there is no monopoly because the case is subject to supply and demand, but known thing in the equation that the offer is limited because the bank covers all applications and demand is unknown whether internally or externally, there are outlets available to exit the currency, and although there are a limited number of beneficiaries of the process but the heaviest affected is a citizen considering that all goods and services offered in the market are denominated in prices the dollar rises by more than exchange rate appreciation does not go down when the decline in the dollar exchange rates, and perhaps what worries the citizen is the public waste in the national wealth of the dollar and put however specific categories of controlled exchange rates without being given any citizen access to his need of the dollar at official rates for different purposes or only for being a citizen, which means richer at the expense of other people.
    The current disparity between selling the dollar in central bank rates (1190 dinars) and the prices to sell in the local markets (1240 dinars) raises concern and fear of the Iraqi citizen, because if the difference was so much Bank covers all purchase orders Besides why would prices when the bank reduces its sales up revenue actual oil or diminishes the door to keep reserves or cancel sales for the purpose of rational disposition of foreign currencies? What is the impact on prices of goods and services after they have been reduced salaries were to start applying the customs tariff and the daily show more taxes, fees and deductions? It is legitimate questions actually concern, there are millions of hungry and unemployed and paying the rent and some displaced people or patients or two seats and have the prisoners and missing and martyrs, including orphans, widows, or maidens, in light of these questions, the Central Bank of Iraq must have clear answers, and of his professional duties and official reassure the public as a matter of achieving security and social peace, the country is still at war fierce and there are no endings clear of things to come in all areas and side economic terms of people's livelihood, and this living has become one of Almbeefat not be overcome easily or easily light the complexities cascading in the running of things in life, Perhaps the most important thing is the fear of the citizens of disposition reserves, the country of the dollar in the possession of the Central Bank of Iraq, there are those who believe that the auctions a day and a month more than the oil revenue sell the dollar probably refers to the disposition of these reserves, and some go away and says perhaps advised days it is said that the reserves may decreased or carried out, and this is a repeat of what happened earlier as the figures indicate that 76 billion dollars and is talking today about $ 59 billion.



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