Iraqi News Highlights Monday Afternoon 12-5-22
Tlm724 Administrator Bondlady’s Corner
Association Of Banks: Central Bank Measures Will Return Dollar Prices To Their Rates Quickly
money and business Economy News – Baghdad The Iraqi Private Banks Association announced, on Monday, that the Central Bank’s measures to increase the supply of dollars through its approved outlets will lead to a return of exchange rates to their rates quickly.
“The economic and political conditions and their repercussions negatively affect stability in the monetary system and the financial system, and thus this will lead to economic instability and market confusion,” the association’s advisor, Samir Al-Nusairi, said in a statement.
Al-Nusairi added, “Several days ago, a new wave of criticism began from some media outlets affected by rumors launched and driven by speculators in the currency exchange market with the aim of creating a state of confusion and instability and trying to drag the money market into instability and thwarting the central bank’s plans to control the target rates for the exchange rate.” The exchange rate, which has remained stable since its adjustment to the new rates of finance, banks and the public.
He pointed out that “speculators took advantage of the decline in dollar sales in the window for selling foreign currency, which the central bank clarified in a statement last week that the reason is the application of a new electronic platform to control external transfers similar to the letters of guarantee platform currently implemented,” noting that “given the lack of sufficient preparation For local banks, with the start of the trial application of the platform, part of the foreign transfers were postponed, which resulted in a decrease in the volume of sales of the foreign currency sale window.
And he emphasized that “another rumor is that the central bank will make a new change to the current price,” explaining that “the central bank has repeatedly announced that there is no intention to change the price at present and explained the negative effects of any change in the price on the national economy, trade exchanges, and local and foreign banking dealings with countries.” the scientist”.
And he continued, “The exchange rate is determined by the central bank according to the effects and repercussions of the economic reality in a country like Iraq that suffers from challenges, repercussions, economic and financial crises, and a structural and systematic imbalance in managing the economy and money.
Monetary, but this cannot be achieved without joint coordination with fiscal policy and other economic sectors, activating the real economy, diversifying sources of national income, and leaving the unilateral economy relying on oil as a main resource that constitutes 93% of the general budget revenues and 57% of the gross domestic product.
And he stressed that “those who criticize the central bank must be aware that its measures announced yesterday by increasing the supply of dollars through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly.”
Views 258 Added 12/05/2022 – 4:12 PM Updated 12/05/2022 – 6:30 PM
https://economy-news.net/content.php?id=31189
Despite The Central Bank’s Steps, The Dollar Continues To Rise In The Local Markets
Economie| 09:50 – 04/12/2022 Baghdad – Mawazine News The exchange rate of the dollar continues to rise, despite the decisions issued by the Central Bank of Iraq to limit its rise.
Money changers spoke to Mawazine News about the exchange rates of the dollar this evening, as the Basra governorate recorded 150 thousand dinars for purchase and 151 thousand for sale for every $100.
While the capital, Baghdad, recorded this evening, the money changers recorded a price of 149,000 for purchase and 150,000 for sale, while in Erbil, the prices were at 147,000 for purchase and 148,000 for sale.
And the Central Bank of Iraq issued a number of decisions to prevent the rise of the dollar in the local markets.
And the Central Bank of Iraq decided, today, Sunday, to increase the sales ceiling for travelers and the delegated employee to become (5000) dollars, after the directive of the Prime Minister, Muhammad Shia Al-Sudani.
The Central Bank of Iraq also decided, today, Sunday, to increase weekly cash sales of the dollar, to prevent a rise in the exchange rate after the directives of Prime Minister Muhammad Shia’a al-Sudani, while confirming its readiness to meet the needs of citizens in foreign currencies. Ended 29 / h
https://www.mawazin.net/Details.aspx?jimare=213244
The decline in the exchange rate of the dollar against the dinar
Economie| 10:00 – 05/12/2022 Baghdad – Mawazine News The exchange rates of the dollar decreased today, Monday, on the local stock exchange. Selling price: 149,300 dinars per 100 dollars Buying price: 149,200 dinars per 100 dollars https://www.mawazin.net/Details.aspx?jimare=213267
Parliamentary: Discussions And Dialogues To Reconsider The Exchange Rate Of The Dollar
Political | 02:44 – 05/12/2022 Special – Mawazine News , the representative of the Kurdistan Democratic Party, Najwa Hamid, confirmed the parliament’s move towards reconsidering the exchange rate of the dollar.
Hamid told Mawazine News, “There are discussions and dialogues between members of the House of Representatives, and the Finance Committee specifically, to reconsider the exchange rate of the dollar, and we imagine that an appropriate price will be maintained.”
And she continued, “The rapid rise led to a clear economic deterioration, due to the failure to study the negatives and positives about the matter, so there is a real necessity to restore the exchange rate of the dollar.” Ended 29/N33 LINK
Al-Sudani Assures Blaschaert Of Iraq’s Aspiration For More Cooperation With The UN In Many Files
Political | 03:09 – 05/12/2022 Baghdad – Mawazine News, Prime Minister Muhammad Shia Al-Sudani affirmed, on Monday, Iraq’s aspiration for more cooperation with the UN organization in many files.
Al-Sudani’s office stated in a statement, a copy of which Mawazine News received, that “Prime Minister Muhammad Shia’a Al-Sudani received, this morning, the Special Representative of the Secretary-General of the United Nations in Iraq, Jenine Blaskhart.”
He added, “During the meeting, they reviewed all files of cooperation and joint programs between Iraq and the international organization, and the progress of their implementation in various fields.”
The Prime Minister affirmed to the UN envoy, “Iraq’s aspiration for more cooperation with the UN organization in many files, including the file of the return of the displaced, and cooperation in the field of confronting climate change.” Ended 29 / H LINK
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