A deputy raises the alarm: the exchange rate of 100 dollars may touch 500 thousand dinars

[yota691]

A deputy raises the alarm: the exchange rate of 100 dollars may touch 500 thousand dinars

 

•  Today, 10:38
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•  
•  857

Follow-up -  IQ

Member of Parliament Kazem Al-Sayyadi warned, on Friday (4 December 2020), that continuing the borrowing policy may raise the dollar exchange rate four times.

The Central Bank set the price of selling the dollar to bank accounts abroad at 1190 dinars per dollar, and the cash sale price at 1190 dinars per dollar, while the price of selling the dollar on the market yesterday (December 3, 2020), reached 125,750, and buying 124,750.

Al-Sayyadi said in an interview with the “Al-Marataz” program broadcast by “Al-Ittijah” channel, that “in the event that the borrowing policy continues and all financial assets inside the central bank are taken from the proceeds, the hundred dollars will become 500 thousand dinars.”

In his speech, Al-Sayyadi called for "not to borrow and rely on other resources" to finance the fiscal deficit.

On Sunday (November 22, 2020), a member of the Parliamentary Finance Committee, Ahmed Mazhar al-Jubouri, said that parliament did not vote on a budget that includes a new borrowing clause that “will not serve the country's future reality,” stressing the need for the government to be aware that the continuity of borrowing is evidence of failure in state management. Financial. "

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, said, Tuesday (December 1, 2020), that “the stability of the Iraqi dinar exchange represents the stability of the external value of the national currency, and then the stability of the standard of living, and defending the stability of the exchange rate is one of the most important duties of the Central Bank of Iraq in Achieving its goals of building stability as a climate for economic growth. "

 

[haymon]

So, the spread will be more and NOT in our favor?

[rvmydinar]

1 hour ago, yota691 said:

A deputy raises the alarm: the exchange rate of 100 dollars may touch 500 thousand dinars

 

•  Today, 10:38
•  
•  
•  857

Follow-up -  IQ

Member of Parliament Kazem Al-Sayyadi warned, on Friday (4 December 2020), that continuing the borrowing policy may raise the dollar exchange rate four times.

The Central Bank set the price of selling the dollar to bank accounts abroad at 1190 dinars per dollar, and the cash sale price at 1190 dinars per dollar, while the price of selling the dollar on the market yesterday (December 3, 2020), reached 125,750, and buying 124,750.

Al-Sayyadi said in an interview with the “Al-Marataz” program broadcast by “Al-Ittijah” channel, that “in the event that the borrowing policy continues and all financial assets inside the central bank are taken from the proceeds, the hundred dollars will become 500 thousand dinars.”

In his speech, Al-Sayyadi called for "not to borrow and rely on other resources" to finance the fiscal deficit.

On Sunday (November 22, 2020), a member of the Parliamentary Finance Committee, Ahmed Mazhar al-Jubouri, said that parliament did not vote on a budget that includes a new borrowing clause that “will not serve the country's future reality,” stressing the need for the government to be aware that the continuity of borrowing is evidence of failure in state management. Financial. "

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, said, Tuesday (December 1, 2020), that “the stability of the Iraqi dinar exchange represents the stability of the external value of the national currency, and then the stability of the standard of living, and defending the stability of the exchange rate is one of the most important duties of the Central Bank of Iraq in Achieving its goals of building stability as a climate for economic growth. "

 

$1=5,000iqd. 1 iqd=0.0002us. " The borrowing policy may raise the exchange rate 4 times " means delete 4 zeroes from the exchange rate, therefore 1 iqd=2us. Hopefully, this is what it means, then this is what all dinar investors are waiting for. What they say are usually different from what they do. This is iraq and iraq is unpredictable, always changeable and full of surprises ( with a good news and a bad news ). What they say today will be totally different from what they say tomorrow or next week or next month or next year, etc. Come on rv sooner and closer.

[Half Crazy Runner]

3 hours ago, rvmydinar said:

therefore 1 iqd=2us.

I do like those numbers!!  💰

[dinarham]

1 hour ago, Half Crazy Runner said:

I do like those numbers!!  💰

  I love those numbers as well ,and would totally cash some in at 1 to 1 . However ,I'm a $5.26 gal . This may sound like I've been into the loco grass again , but here's my theory and it has to do with a large bottle of water. The price would be relatively equal in first world  and emerging countries . I honestly don't know what I'm getting at ,but it's real . Laugher, you'll get some jollies over this . Ha Ha Ha    

[3n1]

41 minutes ago, dinarham said:

I've been into the loco grass again

 

@ $5.26 that's magic mushroom territory ...... just kidding dinarham 🤣

 

Magic mushrooms are wild or cultivated mushrooms that contain psilocybin, a naturally-occurring psychoactive and hallucinogenic compound. Psilocybin is considered one of the most well-known psychedelics,

[dinarham]

" IN THE GARDEN OF EDEN ,BABY "

[Karsten]

34 minutes ago, 3n1 said:

 

@ $5.26 that's magic mushroom territory ...... just kidding dinarham 🤣

 

Magic mushrooms are wild or cultivated mushrooms that contain psilocybin, a naturally-occurring psychoactive and hallucinogenic compound. Psilocybin is considered one of the most well-known psychedelics,

 

Ya.....After spending the night catfish fishing here locally and getting fed a few of those (not Knowing what they were) and a few beers.......Hours later I woke up in the galley of the boat....Wondered up to the deck and looked over the bow.....Damn, no one at the wheels and we were about to run over a ford Bronco someone had been chasing down....Had to have been doing 60 MPH and he still couldn't pull away from the boat.

 

Never again.

 

Karsten

[Longtimelurker]

1 hour ago, Karsten said:

 

Ya.....After spending the night catfish fishing here locally and getting fed a few of those (not Knowing what they were) and a few beers.......Hours later I woke up in the galley of the boat....Wondered up to the deck and looked over the bow.....Damn, no one at the wheels and we were about to run over a ford Bronco someone had been chasing down....Had to have been doing 60 MPH and he still couldn't pull away from the boat.

 

Never again.

 

Karsten

My 1st experience was amazing, my 2nd experience was horrible. Never again lol

[Laid Back]

“Continuing  the borrowing policy may raise the dollar exchange rate four times.”

 

Actual exchange rate 1,190 x 4 = 4,760 dinar per $1

 

In the event that the borrowing policy continues, they will have to devalue the dinar.

 

Just my opinion 

 

 

[Donziman]

Think about it. The reason i got into this about 12 years ago,was because i thought after the mistaken WEAPONS OF MASS DESTRUCTION adventure no way was the US going to let IRAQ fail to be a shinning star in the middle east. This would justify all the mistakes made by our politicians. How could we fail with all the major oil companies 

on our side at 110 dollars a barrel. We had wells being drilled all over the place.Men were getting very rich.What these wise men never came to grips with,was the greed and corruption from the very top all the way down to the paper boy on the street.So when oil went to 35 dollars a barrel and all the previous revenue was stolen with the central bank consent,Iraq is left with nothing but debt and no way to pay it back. With the US pulling out all troops,this is the end of a very,very sad tale.   imho.  lol

[Goggles]

19 minutes ago, Laid Back said:

“Continuing  the borrowing policy may raise the dollar exchange rate four times.”

 

Actual exchange rate 1,190 x 4 = 4,760 dinar per $1

 

In the event that the borrowing policy continues, they will have to devalue the dinar.

 

Just my opinion 

 

 

I agree that this is what they are talking about. 

[dinarham]

   THE ARTICLE ABOVE STATES THAT THEY DON'T WANT TO BORROW.  

[adhoc10]

5 hours ago, Karsten said:

Hours later I woke up in the galley of the boat....Wondered up to the deck and looked over the bow.....Damn, no one at the wheels and we were about to run over a ford Bronco someone had been chasing down....Had to have been doing 60 MPH and he still couldn't pull away from the boat.

Did someone remember to hook up the trailer lights???

[yota691]

Salaries and supervision are the main reasons for the increase in the dollar exchange rate

Saturday 05 December 2020 17

 

 

 Baghdad: Mustafa Al-Hashemi

 

The exchange rates of the dollar throughout the governorates have risen again due to a set of reasons - according to specialists in economic affairs - perhaps the most prominent of which is the delay in paying employees' salaries, and the central bank tightening control over the documents of the banks participating in the window of currency sale, in addition to the reasons for supply and demand in the markets for foreign currency.
The specialist in economic affairs, Adel Al-Fattal, believes that "the rise in the exchange rate of the dollar to 125 thousand dinars per hundred dollars, comes as a result of the influence of the street by circumstances, news and general conditions," describing this rise as "temporary and will return to its normal rates, as proven by previous experiences that Iraq went through."

 

Daily transactions in dinars

During his speech to Al-Sabah, Al-Fattal called on the public to “not acquire the dollar and deal with it in buying and selling, preferring to rely in daily commercial dealings on the dinar, because this will reduce the demand for it, which increases the supply, and thus the abundance will contribute greatly to lowering its exchange rate and returning it to its normal rates. ».

And «the necessity for the public to possess economic awareness and culture that precedes the interest of the country over the personal interest, because immediate circumstances govern that», urging those in charge of the country's economic file to «support the dinar in this economic phase, which Iraq is going through, to relieve the shoulders of those with limited income And the poor segments of society ».

The investigation court, which is specialized in combating money laundering and economic crime, had recently begun to investigate the documents of the banks participating in the window for selling foreign currency, and to ensure their validity and compliance with the law, at the request of the Central Bank.

 

Delayed payroll

Al-Fattal added that “the government's delay in paying employees’ salaries during the past weeks has contributed greatly to the increase in the dollar’s exchange rate, in addition to the new measures adopted by the Central Bank to tighten control over the documents of the banks participating in the window of currency sale, making the markets unstable and witnessing a state of instability. ».

He believed that «the Central Bank is one of the sober Iraqi institutions, which have the ability to restore balance to the market, in addition to that Iraq is a country rich in oil resources that have not been interrupted, despite the fluctuation of the price of a barrel of oil globally», stressing that prices will return to their normal rates after the passage of Duration of Time ».

 

Dollar misalignment

Economic researcher Firas Amer said that "such an imbalance in the exchange rate is possible as a result of the conditions the country is going through," adding that "this reality had previously been experienced by Iraq after stabilizing the dollar exchange rate during the two years 2012. 

And 2013. »

He pointed out that "the high price of the dollar in Iraq is related to the economic threats and concerns that the country may be exposed to due to regional conditions, and fears of the outbreak of conflicts in the region that may have repercussions on the country's economy."

[screwball]

12 hours ago, dinarham said:

  I love those numbers as well ,and would totally cash some in at 1 to 1 . However ,I'm a $5.26 gal . This may sound like I've been into the loco grass again , but here's my theory and it has to do with a large bottle of water. The price would be relatively equal in first world  and emerging countries . I honestly don't know what I'm getting at ,but it's real . Laugher, you'll get some jollies over this . Ha Ha Ha    

I believe it will settle at $5.26

[rvmydinar]

17 hours ago, dinarham said:

I'm a $5.26 gal . 

Actually, I really really like those number. And let's just pray and hope that those number really comes true one day. However i just don't like when iraq just like to talk talk talk only, but never implement it and never get anything done quickly. It has been almost 17 years and it hasn't rv'ed yet. It is like they never need rv because they ( politicians ) have already been very very wealthy from corruptions and bribery.

[yota691]

Warning against the exchange rate reaching 500 thousand dinars per $ 100

 

•  Today, 14:06
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•  528

 

Baghdad - IQ  

Economic expert Saleh Al-Hamashi warned, Saturday, (December 5, 2020), that the dollar exchange rate would reach 500 thousand dinars per $ 100, while the exchange rate expected to rise during 2021 to 2000 dinars.

Al-Hamashi told  IQ NEWS that "continuous borrowing affects the Iraqi dinar because Iraq will weaken financially and the financial cover in foreign currencies will be low." One billion dollars to 51 billion dollars. "

He added, "The decrease leads the central bank to reduce the sale of the effective currency to the dollar, and this affects the price of the dollar." Thousands, and if the crisis lasts for two years or more, the price of 100 dollars may reach 500 thousand because Iraq does not have financial resources that are not in force to sell the currency, unless the government or the International Monetary Fund intervened to preserve the currency. "

He continued, "Reaching the stage of 500 thousand to $ 100 will not happen in the immediate period and is not immediate," likely that "the dollar exchange rate in 2021 will reach 2000 dinars or more."

The exchange rate of the dollar against the Iraqi dinar varies on a daily basis, as these days witness a slight increase, reaching 125,000 dinars per 100 dollars, according to the Stock Exchange today, Saturday.

Economic expert Alaa Al-Fahd attributed, on the day before yesterday, Thursday, (December 03, 2020), the reasons for the high exchange rate of the dollar to the acquisition by the authorities controlling the currency auction of the largest share of it. The necessity of relying on electronic auction to break the monopoly.