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Abtan suggests that the Central Bank will resort to reducing the exchange rate of the dinar against the dollar


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09-29-2020 01:40 PM
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Baghdad / Al-Akhbariya

The former Minister of Youth and Sports, Abdul Hussein Abtan, suggested that the Central Bank would resort to reducing the price of the Iraqi dinar against the US dollar.

Abtan said in a tweet on "Twitter", "I expect, unfortunately, forcing the Central Bank of Iraq, sooner or later, to reduce the exchange rate of the Iraqi dinar against the dollar."

He explained that "the citizen will be the first victim."

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A former advisor to the prime minister, Abdul Hussein Abtan, suggested that the Central Bank would resort to reducing the price of the Iraqi dinar against the US dollar.

Abtan said in a tweet on "Twitter", "I expect, unfortunately, forcing the Central Bank of Iraq, sooner or later, to reduce the exchange rate of the Iraqi dinar against the dollar."

He explained that "the citizen will be the first victim."
 
 
 
 

Unfortunately, I expect that the Iraqi Central Bank will, sooner or later, forcibly lower the exchange rate of the Iraqi dinar against the dollar, and the affected citizen will be the first.# Dinar_w _ Dollar pic.twitter.com/A5pBoYmCAp

- Abdul-Hussein Abtan (@ abdulhssein11) September 29, 2020
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A former advisor to the prime minister, Abdul Hussein Abtan, suggested today, Tuesday, that the Central Bank would resort to forcing a reduction in the price of the Iraqi dinar against the US dollar.

"I expect, unfortunately, forcing the Central Bank of Iraq, sooner or later, to reduce the exchange rate of the Iraqi dinar against the dollar," Abtan said in a tweet on Twitter.

He stressed, "The citizen will be the first victim."

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2 minutes ago, yota691 said:
%D8%B9%D8%A8%D8%AF-%D8%A7%D9%84%D8%AD%D8

A former advisor to the prime minister, Abdul Hussein Abtan, suggested today, Tuesday, that the Central Bank would resort to forcing a reduction in the price of the Iraqi dinar against the US dollar.

"I expect, unfortunately, forcing the Central Bank of Iraq, sooner or later, to reduce the exchange rate of the Iraqi dinar against the dollar," Abtan said in a tweet on Twitter.

He stressed, "The citizen will be the first victim."

🤞

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42 minutes ago, SONIA1 said:

He is talking devalue here

I did the 🤞because we want as much talk about exchange rate as we can get. The big players know what is going to go down. They can talk devalue all day, but they know what has to happen. 

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I just want to point out that first of all, this is just one guy's opinion.  Pretty much everyone in Iraq knows they are in trouble with the market/street value of IQD decreasing compared to the USD.  In other words, the street rate of the IQD is less than its stated/pegged rate (that is published by the CB).  This one guy thinks that the way to fix that is to adjust the the actual rate (stated/pegged rate set by the CBI) to make it match the market/street rate.  Again this is only this one guy's opinion.

 

Second of all, and most importantly, this guy is only a former Minister of Youth and Sports!!!!  He's not even in the government anymore - and he was not even involved finance!  IMO, his opinion isn't worth squat!  

6 hours ago, yota691 said:

The former Minister of Youth and Sports, Abdul Hussein Abtan, suggested that the Central Bank would resort to reducing the price of the Iraqi dinar against the US dollar.

 

There will always be a huge number of articles that come out.  But first I look and see if it is from a person who has authority to speak on the subject (this guy does not), and then I to look and see if it's just that guy's single opinion.  I only pay attention to someone who is actually involved with making changes to the rate of the IQD - whether directly or even tangentially.  If he/she is, then I'll read the article.  But if he/she's just giving their opinon on what they thinks needs to be done, I pretty much dismiss it.  I only pay attention to articles that first, come from a credible source (who's involved with or connected to the rate change) about action that is actually going to be taken, whether that be a vote, a meeting, or whatever.   One guy's opinion is worthless to me unless that person has some kind of input/impact on the rate change.  jmho

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