TNT:
Tishwash: Central Bank Governor: The rise in the exchange rate of the dollar is “temporary”
Central Bank Governor Mustafa Ghaleb Makhaif confirmed today, Saturday, that the rise in the dollar exchange rate is temporary.
The media office of the Central Bank stated in a statement, “The governor made a field visit to a number of banks that started selling foreign currency.”
He added, “The governor urged bank departments to facilitate the procedures for selling foreign currency to citizens wishing to obtain it for the purposes of travel, treatment, and others,” noting that “the central bank has taken a number of decisions that contribute to achieving stability in the foreign currency market.”
And Makhaif confirmed, according to the statement, that “bank outlets for selling foreign currency will be doubled to meet the needs of travelers, with the possibility of increasing the amount of the weekly quota allocated to banks.”
He described that “the rise in the exchange rate is a temporary situation that came after internal and external effects of applying international standards, as the bank succeeded in addressing it and minimizing its effects on the Iraqi economy.”
And he stressed “not to raise public opinion’s concerns about the high dollar exchange rates, and the need to take deterrent measures against speculators,” noting that “Iraq’s situation is much better than other countries and there is no way to compare it.”
It is noteworthy that the Central Bank of Iraq has taken a series of decisions to restore the foreign currency market to its normal position . link
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Tishwash: Hit and run between the dollar and the dinar, the compass of commodities is lost
On these days, two years ago from now, the government of former Prime Minister Mustafa Al-Kazemi took a decision that economists considered the worst, to raise the exchange rate of the US dollar against the Iraqi dinar, for justifications and reasons that later turned out to be flimsy.
Since that date, the Iraqis have been living in a spiral of economic crises that have negatively affected their living conditions, as the prices of many commodities, goods, products, and foodstuffs have doubled or more, which has burdened the poor and middle classes, before the dollar witnessed a new rise during the past few days, which led to Its rise to about 158 thousand dinars per 100 dollars.
Many commodity prices recorded a new rise due to the sudden rise of the dollar, which specialists confirm was due to US measures to undermine the government of Prime Minister Muhammad Shia al-Sudani and the coordination framework, which prompted the head of the Conquest Alliance Hadi al-Amiri to call for the liberation of the Iraqi economy from American hegemony.
In this regard, Representative Muhammad Al-Saihoud says, “There are three directions that must be followed by the first government in order to return the exchange rate of the dollar to its normal and specified position in the budget and to stabilize it,” noting that “the first direction is to preserve foodstuffs and stabilize their prices, and the second direction is to activate the product The local agricultural sector is supported by various means, and the second and last approach lies in protecting the local product through the Ministries of Agriculture and Commerce and controlling markets through strict monitoring of merchants.
Al-Saihoud affirmed in a statement to Al-Maalouma, “We still trust the Sudanese government because its directions continue to challenge it to confront international pressures that seek to raise the exchange rate of the dollar, and our support is still continuing to implement the government service program.”
Meanwhile, Representative Muhammad Al-Shammari stated in a statement to Al-Maalouma, that “the monetary measures taken by the government and the Central Bank were effective, which showed positive results that contributed to a sharp decline in the exchange rate of the dollar against the dinar.”
Al-Shammari stressed the need for “there to be tight control by the agencies concerned with monitoring the markets and holding those manipulating the prices of foodstuffs and other commodities to account, at the expense of the citizen’s sustenance, severely.”
As the Iraqis, like the rest of the peoples of the world, prepare to bid farewell to the year 2022 and welcome the year 2023, economic and livelihood concerns top the priorities of wishes, while there is a great state of optimism about the possibility of reforming the economic conditions in light of the Sudanese government’s measures and its orientation towards services and the fight against corruption.
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Tishwash: The war of rumors in Iraq: electronic armies manipulate the currency markets
The decline in the value of the Iraqi currency to record levels amounted to about 1580 dinars per dollar on the black market, while its official price is 1460 dinars, in raising the rate of inflation and high prices, and the decline in the purchasing power of Iraqis.
Despite the government and the central bank’s quick and continuous efforts to control the markets, officials and observers confirm that the rumors launched by the electronic armies associated with private banks and various companies, after the central bank’s sales of dollars decreased, stating that the dollar will rise more during the coming periods, caused a state of panic. Confusion in the market Many citizens tended to transfer their money from the Iraqi dinar to the dollar.
Rumor effect
The economist, Bassem Jamil Antoine, believes that the rumors directly affected the market, creating a state of confusion and imbalance due to the lack of outlets for selling the dollar at the official price, and the exploitation of this situation by brokers and speculators.
Antoine stressed, through his interview with Al-Araby Al-Jadeed, that the media should take its role in limiting this crisis and paving the way for educating citizens with the aim of reducing the large rumors that the Iraqi local market is subject to.
Antoine underestimated the fears of the lack of dollars in the central bank, which has a cash reserve of hard currency exceeding 90 billion dollars. rise in the US currency.
Electronic armies
Electronic armies, supported by parties controlling the market, contributed to spreading rumors that greatly affected the exchange rate of the dollar and the decline of the Iraqi dinar.
The economic researcher, Omar al-Halbousi, said that what these armies publish confirmed that their activity was systematic and planned in an upward manner, which made the dollar rise rapidly with every rumor spread by these armies.
Al-Halbousi added, to Al-Araby Al-Jadeed, that there are influential parties that control the currency market and have power in sales outlets within the central bank, working in the field of money laundering, as well as using forged invoices to buy dollars, with the aim of achieving the greatest amount of gains and profits as they buy dollars. at a reduced price and sell it on the black market at a great profit.
Al-Halbousi indicated that the government and the central bank should make maximum efforts to combat and address such rumors, especially since there are a number of banks, exchange companies and currency dealers belonging to partisan parties that control the monetary policy of the central bank. He stressed the importance of taking other measures that would reduce the exchange rate by imposing a specific price ceiling, and stopping dollar smuggling operations by land towards neighboring countries.
contrived crisis
For his part, the researcher on Iraqi affairs, Abd al-Qadir al-Fahdawi, believes that the rise in the value of the dollar and the decline of the Iraqi currency is a fabricated internal crisis and there are no external influences.
Electronic armies, supported by parties controlling the market, contributed to spreading rumors that greatly affected the dollar exchange rate
Al-Fahdawi explained to Al-Araby Al-Jadeed that the current crisis results from fabricated measures and policies by private banks affiliated with political parties that relied on money laundering and currency smuggling out of Iraq, in addition to monopolizing the dollar to raise its price in order to achieve large profits at the expense of the suffering of the Iraqi people. And Al-Fahdawi indicated that the electronic armies of those parties played an important role in the rise of the dollar and exacerbated the crisis by spreading various rumors that aim to sell the dollar to citizens and businessmen until the amount of purchase runs out on the one hand, and to divert attention from currency smuggling operations on the other hand.
He stressed that the main parties supervising the spread of rumors belong to parties that control the government and economic policy, their main goal is to distort the facts and the continued preoccupation of citizens with the rise in dollar-dependent commodities and their continued control of private banks and the delay in the issuance of the US Federal Reserve’s decisions against six other banks accused of corruption, money laundering and currency smuggling to Iran. besieged by the US Treasury Department.
Al-Fahdawi stressed that the real confrontation of these electronic armies lies in clarifying the facts to the people through the media, and involving all popular activities to put pressure on the Central Bank by adopting a real mechanism and treatment, stopping dealing with banks affiliated with the parties, and reducing money laundering and currency smuggling abroad. link
