A "conspiracy" to raise the exchange rate of the dollar to 150 thousand dinars

[yota691]

 

Warning .. a "conspiracy" to raise the exchange rate of the dollar to 150 thousand dinars

 

2020-10-17 06:58

Shafaq News / Two representative sources warned on Saturday of a "conspiracy" to raise the exchange rate of the dollar against the Iraqi dinar, which could cause the destruction of the economy and low-income segments.

A member of the Parliamentary Economy and Investment Committee, Mahmoud Al-Zajrawi, told Shafaq News, "There are attempts to raise the exchange rate of the dollar in the Iraqi market, so that every 100 dollars has 150 thousand Iraqi dinars," noting that "manipulating exchange rates will mainly affect the simple citizen."

He added that "any attempt or manipulation by the government in the exchange rate of the dollar against the Iraqi dinar will affect the Iraqi economy," noting that "this measure is a conspiracy and would destroy the Iraqi economy in light of low oil prices and the Corona pandemic."

For his part, a member of the Parliamentary Finance Committee of the Saeron Alliance Naji Al-Saeedi said in a tweet on Twitter, "The central bank's use of the new cash issue to finance internal borrowing to bridge the budget deficit will lead to an increase in the dollar exchange rate against the dinar."

He added that "this matter will lead to an increase in commodity prices," noting that "the only beneficiary of this process is the participating banks in the window of selling the process."

He concluded his tweet, saying that this approach is "legal theft of the people's money." 

And Saturday, the exchange rates of the dollar in the Baghdad markets increased significantly, as the Central Kifah Stock Exchange in Baghdad recorded 125,700 Iraqi dinars against 100 US dollars, and Al-Harithiya Stock Exchange in Baghdad recorded 125,700 dinars against 100 dollars.

Last Thursday, the Central Kifah Stock Exchange in Baghdad recorded 124,400 Iraqi dinars against 100 US dollars.

According to the correspondent of Shafaq News Agency, the selling and buying prices also increased in the exchange shops in the local markets in Baghdad, where the selling price reached 126,250 Iraqi dinars, while the purchase prices reached 125,250 dinars per 100 US dollars.

[64jaguar]

The Conspiracy is to keep me a poor S.O.B......

 

Oh well, maybe the Crypto's will save me.... 

Hope none of you are in the crypto's I'm in...Lol..

[DWS112]

An Iraqi MP reveals the reason for the high exchange rate of the dollar and warns of destroying the economy - urgent

10/17/2020

 

Baghdad today - Baghdad 

 

A member of the Parliamentary Finance Committee, Naji Al-Saeedi, called today, Saturday, to dismiss the governor of the Central Bank, against the backdrop of the high exchange rate of the dollar against the Iraqi dinar.

 

Naji Al-Saeedi said, in an interview with (Baghdad Today), that "the first task of the leader of monetary policy in Iraq, which is the central bank, is to preserve the value of the Iraqi currency, and the bank will bear what happened today in terms of confusion and instability after the exchange rate of the dollar rose against the Iraqi dinar. ".

 

Al-Saeedi added, "There is an agreement to reduce the value of the Iraqi dinar against the dollar, in order to reduce the state's general federal budget deficit, considering the high exchange rate of the dollar against the dinar will reduce the deficit, and this is done through the official price, not the parallel, but what happened otherwise."

 

He explained that "the central bank used the policy of what we call the new monetary issuance or inflation financing by

 

 👉 printing a new currency to fill the deficit,👈

 

but this process will have negative consequences for the citizen," noting that "what happened today achieved the goals of some bank managers and returned benefits to them and the participating currency dealers. In the currency auction, to get big profits. "

 

A member of the Parliamentary Finance Committee continued, "The step taken by the bank today is one of the steps of corruption to destroy the Iraqi economy, and if he is not aware of it, then the governor of the bank should be dismissed because he is not specialized in these issues and is not competent to manage the country's financial affairs.

 

A member of the Parliamentary Finance Committee, Kamal Cougar, confirmed, on Thursday, October 15, 2020, that the Central Bank is concerned about the government and parliamentary approach to reducing the value of the Iraqi dinar against the dollar.

 

Cougar said in an interview with (Baghdad Today), "There is a governmental and parliamentary approach to reduce the value of the dinar against the dollar, but this trend has not been made a final decision on it," noting that "the Central Bank has great concerns about the step of reducing the value of the Iraqi dinar in exchange for Dollar ".

 

He added that "the final decision on this issue will be decided in the draft federal budget law for the country for the year 2021," noting that "the details of this approach are not clear features regarding the price of the reduction."

 

The Financial Committee of the Iraqi Parliament commented, Thursday (July 2, 2020), on news that there are possible intentions to change the exchange rate of the dollar against the dinar within the anticipated financial reform law.

 

Committee reporter Ahmed Saffar said, in an interview with (Baghdad Today), that "until now we have not seen the draft financial reform bill, but there are information and leaks. We state that there is an intention to change the exchange rate of the dollar against the dinar, but we do not know its accuracy until the moment, as there is." Some MPs have approached this option, and there is parliamentary opposition to such an approach.

 

Al-Saffar stated that "any reduction in the value of the dinar or the dollar will cause price inflation because it will reduce the purchasing power of the Iraqi dinar, and here the affected will be those with limited income from employees, contracts and rentiers," indicating that "within the monetary policy, this is the last solution to the crises."

[yota691]

Cougar: The exchange rate of the dollar will be fixed in the budget ... and warns of the repercussions of its rise to 1500 dinars

•  Time: 10/18/2020 20:21:00
•  
•  Read: 5,499 times

  

{Baghdad: Al Furat News} A member of the Parliamentary Finance Committee, Jamal Cougar, said on Sunday evening that the dollar exchange rate will be fixed in the general budget.

Cougar said {to the Euphrates News} that "there are no expectations to raise the dollar exchange to 1500 dinars," noting that "the exchange rate will be fixed in the budget and it determines its paths."
He pointed out that "in the event that the state budget is updated at a new exchange rate that differs from the context of the supply throughout the 17 years in the budgets, it will affect the purchasing power of the currency and the citizen will be the main victim."
Couger said, "The decline in the exchange rate or its rise occurs when the required liquidity is not available or vice versa is more than necessary," calling on the central bank to "provide the market with its needs of the currency."
 The Parliamentary Finance Committee suggested raising the dollar exchange rate to 1500 dinars. According to the committee’s rapporteur, Ahmad al-Saffar, who confirmed {to the Euphrates News} that the Central Bank is the one who determines the exchange rate and the process of buying and selling currency; But there is an opinion to raise the exchange rate of the dollar to 1500 dinars, indicating that reducing the price of the Iraqi dinar will lead to inflation and the burden will be borne by the employee and those with limited income.
Wafa Al-Fatlawi