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Al-Samarrai Calls For Reforming The Central Bank And Unifying The Exchange Rate


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Al-Samarrai Calls For Reforming The Central Bank And Unifying The Exchange Rate

11/25/2020

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Former Parliament Speaker Iyad al-Samarrai called for the restructuring of the central bank in line with the structures of international central banks, with the unification of the exchange rate in all banks.


"The exchange rate is very important, and any major change in the exchange rate and the float will be a disaster for the economy and its consequences will be complex and the economy will not recover for decades, an example of this is what happened in Jordan, Egypt and many other countries," al-Samarrai said in an article.


He pointed out that "gradual change is very important if it is necessary, as the local currency and its stability are among the most important tributaries of the economy's strength."


He stressed that "it is necessary first to reform the central bank in line with the structures of global central banks and have a committee of experts who do not interfere in executive matters only and specialize in setting and monitoring policies, and it is not subject to the government and does not interfere in its policies."


He also stressed that "the exchange rate must be the same in the banks, as for the black market and the cancellation of exchange companies specialized in taking hard currency from the central bank and selling it in the market and the resulting great corruption."


He called for the price to be the same in the bank and at the cashier, "taking into account the sale and purchase commission, canceling the auction of currency sale and making it available to all banks and exchange companies and for legitimate dealings of import and export and the needs of citizens, and it is not a reason for smuggling money, especially the money of corrupt deals."

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The exchange rate is very important, and any major change in the exchange rate and the float will be a disaster for the economy and its consequences will be complex and the economy will not recover for decades.

 

 

this doesn't sound good to me,  when they say " any major change in the exchange rate and the float will be a disaster "   ya not good at all.   

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Oh no!  Don't tell me Kaperoni was right about the float.  I hope this doesn't mean it's going to float up from the present rate.  I don't like "gradual change".  That would take forever.  We've waited long enough.  

 

"He pointed out that "gradual change is very important if it is necessary, as the local currency and its stability are among the most important tributaries of the economy's strength."

Edited by Floridian
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don't pay too much attention to what they wrote because this can be a distraction and smoke screens to keep the dinar investors away from buying more and more dinars. just pay more attention to what they do.  it is very very impossible for the goi and cbi to announce the rv to the public openly ahead of time because the dinar investors buy more and more dinar. the goi and cbi will announce the rv secretly suddenly and surprisingly and booms rv comes surprisingly on month....day.....year........

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6 hours ago, rvmydinar said:

don't pay too much attention to what they wrote because this can be a distraction and smoke screens to keep the dinar investors away from buying more and more dinars. just pay more attention to what they do.  it is very very impossible for the goi and cbi to announce the rv to the public openly ahead of time because the dinar investors buy more and more dinar. the goi and cbi will announce the rv secretly suddenly and surprisingly and booms rv comes surprisingly on month....day.....year........

Yep ignore or sell

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As long as Iraq practices MCP, they will not be allowed to enter Art. 8. The daily auction has to go!

 

A little more difficult to buy IQD? Try almost non-existant. SafeDinar - in transit for months. XchangeofAmerica - will sell you circulated IQD in a mystery bag of denominations, EBay has whittled down to selling 25K notes singularly. You want to buy buy IQD, you are better off buying a trip to the North Pole to visit Santa Claus (say Hi to Rudolf for us!). 

Edited by Theseus
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In the world of supply and demand, when an "thing" becomes scarce but still wanted and searched for, doesn't that make the value go up?  If the dinar keeps getting harder and harder to get, shouldn't that make it's value increase?  The fact that it is hard to get is a good sign, right?

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27 minutes ago, shixjr said:

In the world of supply and demand, when an "thing" becomes scarce but still wanted and searched for, doesn't that make the value go up?  If the dinar keeps getting harder and harder to get, shouldn't that make it's value increase?  The fact that it is hard to get is a good sign, right?

Yep. You are absolutely right. No question about it. But sometimes ebay is like a pamper because the price is double the profit eventhough the rate is still 1190 in the cbi official exchange rate.

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