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Adnan Yousef: Some countries have to fix the exchange rate of their currencies for 10 years


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Adnan Yousef: Some countries have to fix the exchange rate of their currencies for 10 years

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Chief Executive Officer of Albaraka Banking Group, Adnan Yousef. "Internet"

Economy News Baghdad

The Chairman of Albaraka Banking Group, Adnan Yousef, said that the Arab and Islamic markets have changed, and fluctuations in the exchange rates of their currencies scare businessmen.

Youssef said in an interview with CNBC Arabiya, "Economic News", that fluctuations in foreign exchange rates in the Arab and Islamic markets " ate the capital of foreign investors."

"Some countries have either fixed the exchange rate of their currencies to the foreign investor for 10 years, or stopped imposing the diversion of foreign investments to their local currencies," Youssef said.

 

Views 117   Date Added 09/05/2019

http://economy-news.net/content.php?id=16578

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10 minutes ago, Chabo1 said:

Hasn't the official exchange rate stayed fixed already? 1190 seems like for as long as I have Been in this 71/2 years

It has crazy swings  " 1800 to 1900 " even dropped to 1600 once , just movement against basket of currency...

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27 minutes ago, Laid Back said:

Iraq is on a transition from a closed economy to an open market economy. 

For now they cannot change exchange rate till IMF Art.8 compliance and the government is fully seated.

 

 

 

 

 

Thanks laid back, when I see your name im sure to check out what you've said. 

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3 hours ago, jg1 said:

Thanks laid back, when I see your name im sure to check out what you've said. 

Thank you for your input my friend jg1,

Iraq is moving in the right direction.  A lot has been accomplished, but still some work to do.

 

Go RV sooner than later 

Go $1:1

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2 minutes ago, Laid Back said:

Thank you for your input my friend jg1,

Iraq is moving in the right direction.  A lot has been accomplished, but still some work to do.

 

Go RV sooner than later 

Go $1:1

LB, i thought that ART VIII was sometime this summer. Just not sure when but i was thinking July or Aug time frame. Do you remember off hand?

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1 minute ago, ChuckFinley said:

LB, i thought that ART VIII was sometime this summer. Just not sure when but i was thinking July or Aug time frame. Do you remember off hand?

My friend ChuckF, 

Few days a posted this:

 

The team will prepare a report that, subject to management approval, is tentatively scheduled to be considered by the IMF’s Executive Board in July 2019.

 

Go Art 8 compliance 

Go new monetary policy 

Go RV

Go $1:1

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