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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


    «Spring» ECB! ...The citizen and the falling local currency. Goods goes down, the other goes up

    Hkp1
    Hkp1
    Hkp1
    Interacting Investor
    Interacting Investor


    Posts : 3118
    Join date : 2012-12-19
    • Post n°1

    «Spring» ECB! ...The citizen and the falling local currency. Goods goes down, the other goes up Empty «Spring» ECB! ...The citizen and the falling local currency. Goods goes down, the other goes up

    Post by Hkp1 Wed 22 May 2013, 4:56 pm

    «Spring» ECB! ...The citizen and the falling local currency. Goods goes down, the other goes up



    Ali Salman-22/05/2013-7: 40 am


    A
    number of Deputies, warned in the financial area of continued low
    exchange rate of the Iraqi dinar against the US dollar, because it will
    create great economic and financial crises in the country, in terms of
    high inflation and increasing prices in the domestic market, in addition
    to the direct impact on the size of the cash reserve of hard currency,
    because the decline in the dinar had reduced the purchasing power of
    citizens (20%), giving a negative signal of economic growth and
    development in the country,

    Member of the Finance Committee finds
    MP Hassan aozmn Al-Bayati, the current Central Bank because of the low
    exchange rate of the Iraqi dinar against the US dollar, warning of
    continued decline because it would lead to economic and financial
    problems in the country, in terms of increasing poverty, rising
    inflation, and the falling dinar exchange rate impact on purchasing
    power and fallen by (15%-20%), because most imported goods on the market
    and imported USD ,

    And the need to take necessary measures for
    the return of the dinar price and maintain stability in hard currencies
    to avoid the country of potential economic crises occurred.

    He
    ruled out financial Committee member MP Abdul Hussein Al-yasiri, a hard
    currency smuggling operations that would have led to high exchange rate
    of the US dollar, indicating that the Government give a dollar to the
    Central Bank and the Bank gives the dinar Finance Ministry for
    operational purposes in the State, but there are monopolistic operations
    in selling hard currency.

    The Central Bank's policy include
    selling the dollar against the Iraqi dinar in order to create a balance
    in the supply and demand balance of foreign currency on the domestic
    market, but this has not happened, because < > attack by natives
    and some financial companies to keep the dollar without knowing the
    reasons, and the Central Bank is required to change current monetary
    policy formula makes the dollar up to deserve it and not the people
    there have a need for the dollar, stressing that the continued decline
    of the dinar would lead to a financial crisis in the country.

    His
    attorney accused Hamid Buffy, the Federal Government is due to the
    instability of the Iraqi dinar exchange rate for the foreign currency
    they are trying to take over the work of the Central Bank, although it
    is an independent institution not subject to executive power but linked
    to the House by the Iraqi Constitution, and the Government's
    interference in the work of the Central Bank led to the resignation of
    the Governor of the Bank and its executives and this is a dangerous
    precedent that threatens the country's monetary policy, and this is what
    I got now is constantly falling dinar exchange rate ,

    And the
    House of representatives to prevent the Executive authority on the work
    of the Central Bank to keep public money and financial stability in the
    country.

    And see sections of the private banks in Baghdad, since
    the early hours of the morning each day, gatherings of crowds of people
    hoping to get an early opportunity to buy dollars from the banks, then
    selling the dollar and get profit from the price difference in the
    market, and not without those citizens of the scenes conflicts and
    complexity caused by overcrowding on that opportunity.

    Saw the
    Iraqi dinar exchange rate to the US dollar fluctuated unprecedented
    since early may, even now, what prompted the Central Bank to take action
    to reduce slumping, which impact directly on the Iraqi economy.

    The
    Iraqi Central Bank meet daily to buy and sell foreign currency with the
    participation of Iraqi banks, with the exception of public holidays
    where the Bank auctions, sales are either critically or in the form of
    money orders sold abroad in return for Commission.

    7/5/13522

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