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Economist: price rise in the value of the Iraqi dinar against the dollar is not in the interest of Iraq


yota691
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Economist: price rise in the value of the Iraqi dinar against the dollar is not in the interest of Iraq

Economy and Tenders

 Since 09/17/2015 13:01 pm (Baghdad time)

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Special - scales News

Said economist Abdul Hassan al-Shammari, Thursday, that the price rise in the value of the Iraqi dinar against the US dollar is not in the interests of Iraq's economy, demanding to be dinar 1,500 dinars to the dollar to pay employees' salaries.

Al-Shammari said L / scales News / "The Iraqi dinar value is very strong compared to the US dollar and this is not in the interests of Iraq," stressing that "in the interest of Iraq to drop the price of the dinar so advanced and developed countries compete to lower its currency in order to export because whenever declining currency increase local exports to that country. "

And he demanded that "the Iraqi dinar 1,500 dinars to the dollar to enable the advancement of Iraq again and pay the employees' salaries," stressing that "the low salaries of the three presidencies is not enough to cover the deficit in the Iraqi budget."

The central bank sales recorded, on Wednesday, stable in the auction for the sale of foreign currency at $ 171 million, after yesterday sold at the same price. It ended 29 quarters e

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What this economist is saying is an economic fact, lower currency values are good for exports.  You don't have to believe me, simply Google it.  

 

The difference that I see is that Iraq's major export is not "goods and services," it's oil.  

 

As we all know, Iraq is the #3 exporter of oil in the world link...  https://www.cia.gov/library/publications/the-world-factbook/rankorder/2242rank.html

 

YET all of the other countries around Iraq like Kuwait, UAE, Saudi Arabia, Qatar, and Jordan, ALL have currencies that are valued HIGHER!  

 

That's why I am still in this game.  

Edited by drj
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What this economist is saying is an economic fact, lower currency values are good for exports.  You don't have to believe me, simply Google it.  

 

The difference that I see is that Iraq's major export is not "goods and services," it's oil.  

BINGO! :tiphat: 

this economist is talking basic economics however they are not talking good economics "for the country of Iraq".  iraq's primary export, oil, is inelastic.  dropping or raising the value of the dinar will have little to no affect at all on oil exports.  inflating the dinar or devaluing it in order to ease pressure on meeting salaries is not good for monetary stability that foreign investors demand.  and one of iraq's main focuses is to entice foreign investors to the country.  it would be a very inappropriate time to begin showing volatility in the financial structure.  

 

'Inelastic' An economic term used to describe the situation in which the supply and demand for a good or service are unaffected when the price of that good or service changes.

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What he's saying is true if your country exports loads and loads of cheap prices goods all over the world, like India and China do. That's why they keep their currency value artificially low to keep people doing business with them. But oil is a special commodity and in this case, Iraq has a lot of it and is a high level producer and exporter so in fact it would benefit them more to have their currency valued at whatever makes sense in terms of the rest of their economy besides the oil industry; which is mostly imports, so…

Higher dinar value please?

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Everyone of these economists should have a triple PHD by now, I have never seen anything like these guys in my life. Their undecided, indecisive, agonizing, irresolute approach leads me to believe that they should not be allowed to reproduce. You can't run a business, without some sort of decision making thought process, I wonder how long it takes them to flush a toilet?

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BINGO! :tiphat:

this economist is talking basic economics however they are not talking good economics "for the country of Iraq".  iraq's primary export, oil, is inelastic.  dropping or raising the value of the dinar will have little to no affect at all on oil exports.  inflating the dinar or devaluing it in order to ease pressure on meeting salaries is not good for monetary stability that foreign investors demand.  and one of iraq's main focuses is to entice foreign investors to the country.  it would be a very inappropriate time to begin showing volatility in the financial structure.  

 

'Inelastic' An economic term used to describe the situation in which the supply and demand for a good or service are unaffected when the price of that good or service changes.

 

 

Spot-on TE, oil is an entirely different animal!   Now, let's get the HCL passed!

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What this economist is saying is an economic fact, lower currency values are good for exports.  You don't have to believe me, simply Google it.  

 

The difference that I see is that Iraq's major export is not "goods and services," it's oil.  

 

As we all know, Iraq is the #3 exporter of oil in the world link...  https://www.cia.gov/library/publications/the-world-factbook/rankorder/2242rank.html

 

YET all of the other countries around Iraq like Kuwait, UAE, Saudi Arabia, Qatar, and Jordan, ALL have currencies that are valued HIGHER!  

 

That's why I am still in this game.

drj, sorry I hit the neg. I meant to +1 you. Can someone give drj a plus 1 for me? thanks
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