Economist: speculators and exchanges manipulating the dollar and it will affect the markets and citizens

[horsesoldier]

Oh... this just gets better & better 

[Jaygo]

8 minutes ago, horsesoldier said:

Oh... this just gets better & better 

Right????? LOVE IT!!

[screwball]

3 minutes ago, 6ly410 said:

Amid anticipation of a "reversal" of exchange rates tomorrow ... the exchange rates of the dollar in the Iraqi market record an uneven increase.

Interesting can only go two ways up or down 

[6ly410]

•  

Parliamentary economy, “Al-Ahed News”: The rise in the dollar’s price has serious repercussions

https://alahadnews.net/144947/خاص-بوكالة-العهد-نيوز/

 

Author: ahad6 On 12/19/2020 - 9:50 AM 22

A member of the Parliamentary Economic and Investment Committee, Saad Al-Khuzai, warned against raising the dollar’s exchange rate against the Iraqi dinar, which would cause prices to rise.  

Khazali said to Al-Ahed News, that "raising the price of the dollar against the Iraqi dinar may cause an increase in prices and damage to segments of limited income, noting that the Parliamentary Economic and Investment Committee has repeatedly warned of the repercussions of the high prices of food products and other basic commodities."

"Manipulating the exchange rate will mainly affect the ordinary citizen, as the rise in commodities has serious repercussions on the poor class of the Iraqi people," he add

[rvmydinar]

3 hours ago, 6ly410 said:

"reversal" of exchange rates tomorrow 

There will be big differences between buying and selling 

What is that supposed to mean by " reversal of exchange rate"? I really like this part " big differences between buying and selling ". I wonder what would the rate be? Hopefully, it is a single digit number ( between 1-9 )🙏

[Longtimelurker]

24 minutes ago, rvmydinar said:

What is that supposed to mean by " reversal of exchange rate"? I really like this part " big differences between buying and selling ". I wonder what would the rate be? Hopefully, it is a single digit number ( between 1-9 )🙏

My interest is surely peaked right about now. 🙏🙏🙏

[yota691]

Al-Muhammadawi: The Central Bank has failed to stop the deterioration of the currency exchange

•  Time: 12/19/2020 15:27:27
•  
•  Reading: 260 times

  

(Baghdad: Al-Furat News) The representative of the National Approach bloc, Jamal Al-Muhammadawi, confirmed, on Saturday, that the Central Bank had failed to stop the deterioration of the currency exchange, while he called for accountability of the bank because of "this confusion."

"We strongly criticize the central bank’s approach to managing the monetary policy of the country, which caused a sharp decline in the value of the Iraqi currency’s exchange rate against foreign currencies, and left a profound impact on the citizens’ livelihood, "al-Muhammadawi said.
He added that "the central bank deviated from its objectives set for it in Law No. (56) of 2004, and failed to stop the deterioration of the Iraqi currency exchange against the dollar and a cradle for parasites and corrupt persons by acquiring hundreds of billions of dinars of illegal profits."
He continued, "The Central Bank of Iraq has failed to achieve development, fight poverty and the deviation of a fair distribution of resources, because it did not deal seriously in benefiting from the monetary mass that is supposed to go to investment in real production and not rapid speculation for profit only."
Al-Muhammadawi pointed out that "one of the duties of the central bank is to preserve the purchasing power of the dinar and the stability of the citizen's cash income and to manage the monetary and economic crises such as the phenomenon of hyperinflation, which will be a natural result of the failure of the central bank and the change of the exchange rate."
He stressed that "the central bank must strive under the current circumstances to maintain the stability of the exchange rate of the Iraqi dinar or the external value of the dinar and maintain the stability and integrity of the internal value of the currency and control of inflation and lower annual price growth rates, and this is reflected in the evaluation of administrative prices and price support for the commodity paragraphs that occur." Within the overall financial objectives of the bank. "
Muhammadawi called for
Ali al-Rubaie

[WheresmyRV?]

So tomorrow could be the big day then? 

[Jaygo]

24 minutes ago, WheresmyRV? said:

So tomorrow could be the big day then? 

I hate to say it but I just don’t think so. Not sure it is going to be the big deal everyone is making it out to be. They change the rate to 1450. The people are pissed like they usually are. They continue for who knows how long to get some of the chunky money in and then they go from there. Who knows. It could sit at 1450 for who knows how long!! 😭

[rvmydinar]

29 minutes ago, WheresmyRV? said:

So tomorrow could be the big day then? 

Exactly. We just pray when we wake up tomorrow morning, hopefully boom we all become millionaire or even billionaire overnight. I wonder what would the dinar dealers and ebay do? Do they stop selling dinars now? Or do they keep and hold the dinars starting now just in case tomorrow is rv time because they also want to become a billionaire, too. Come rv tomorrow hopefully.

[stanleypower]

Wouldn’t they only draw the chunky money until the rate changes? Once there’s a change there’s no benefit to exchange for dollars unless the CBI states another rate reduction. 
 

correct me if I’m wrong please. 

[Jaygo]

16 minutes ago, rvmydinar said:

Exactly. We just pray when we wake up tomorrow morning, hopefully boom we all become millionaire or even billionaire overnight. I wonder what would the dinar dealers and ebay do? Do they stop selling dinars now? Or do they keep and hold the dinars starting now just in case tomorrow is rv time because they also want to become a billionaire, too. Come rv tomorrow hopefully.

1450 is the wrong direction. You will not be a millionaire tomorrow. 

[rvmydinar]

8 minutes ago, Jaygo said:

1450 is the wrong direction. You will not be a millionaire tomorrow. 

Thanks for telling us the truth. So at least when we wake up tomorrow morning, we don't feel regretful if there is no rv tomorrow. Because some of us will be desperate waiting for rv.

[Floridian]

1 hour ago, stanleypower said:

Wouldn’t they only draw the chunky money until the rate changes? Once there’s a change there’s no benefit to exchange for dollars unless the CBI states another rate reduction. 
 

correct me if I’m wrong please. 

 

I think you're right.  

Draw in the chunky money by scaring the people that the dinar is going down.

Then, in January, when they've collected as much chunky money as they can, they raise the rate on the dinar to .84

[Dinarrock]

23 minutes ago, Floridian said:

 

I think you're right.  

Draw in the chunky money by scaring the people that the dinar is going down.

Then, in January, when they've collected as much chunky money as they can, they raise the rate on the dinar to .84

Sorry but hate to burst your bubble they won’t RV at .84, that would only be possible if they dropped the three zeros from the 1190 rate, if they change the rate to 1450 and then drop the zeros you will only get about .69 cents so take it or leave it...lololol...in the end however I still think they can RV at whatever rate they want to so I am hoping for $1.17 or higher! Either way I think we will see a true RV by Jan 6th IMO!!

Edited December 19, 2020 by Dinarrock

[Floridian]

2 minutes ago, Dinarrock said:

Sorry but hate to burst your bubble they won’t RV at .84, that would only be possible if they dropped the three zeros from the 1190 rate, if they change the rate to 1450 and then drop the zeros you will only get about .69 cents so take it or leave it...lololol...in the end however I still think they can RV at whatever rate they want to so I am hoping for $1.17 or higher! Either way I think we will see a true RV by Jan 6th IMO!!

 

We'll see soon enough, won't we?

 

[6ly410]

 

A leader in Al-Nasr: Iraq is losing about 200 billion dinars per day because of the currency auction

http://www.alliraqnews.com/modules/news/article.php?storyid=105364

Editing date: 12/19/2020 20:22 • 79 read times

[Baghdad-Where] The
leader of the victory coalition, Aqeel al- Rudaini, confirmed, Saturday, that Iraq is losing about 200 billion dinars per day because of the currency auction.

Al-Rudaini said that “the actions of the Al-Kazemi government to raise the exchange rate of the dollar directly targeted the livelihood of the Iraqi citizen, especially the simple and poor employees,” noting that “the government left the large corruption files, the investment file and the outlets and moved to a narrow point on which millions live, which is salaries and affected by raising exchange rates on the one hand. Raise food prices. "

He added, "The currency auction loses about 200 billion dinars as a result of which Iraq is losing about 200 billion dinars per day, which go to obligatory local banks and do not benefit the national economy, as it was stated in a statement by MP Muhammad Shiaa al-Sudani a few days ago," stressing that "there are influential parties benefiting from the situation and this is what is explained by Auction sales go to specific banks.

Iraq suffers from a severe economic crisis as a result of the government's repeated failures to address the crisis, amid high rates of corruption

[yota691]

Central Bank Governor: Exchange companies will buy 100 thousand dollars instead of 50 thousand dollars

 

Central Bank Governor, Mustafa Ghalib

Banks Economy News - Baghdad Central Bank Governor Mustafa Ghaleb Makheif confirmed that the bank will double the sale of dollars to exchange companies . A scary,  in an interview with Iraqiya and followed the "Economy News", that "discreet precautions enable us to stabilize prices," noting that "exchange companies buy 50 thousand dollars, and Sndhaafha to 100 thousand dollars ." He added, "The abundance of the dollar will make it stable in the market."

Number of observations 1223   Date of addendum 12/19/2020

[Officiallytook]

Any traders seeing this as the second draw back(another chance to buy) before it sky rockets our way?

[Jaygo]

On 12/19/2020 at 7:38 AM, Jaygo said:

I hate to say it but I just don’t think so. Not sure it is going to be the big deal everyone is making it out to be. They change the rate to 1450. The people are pissed like they usually are. They continue for who knows how long to get some of the chunky money in and then they go from there. Who knows. It could sit at 1450 for who knows how long!! 😭

Yep. Exactly how I thought it would happen. 😭

[6ly410]

Unusually ... Karbala markets are devoid of shoppers because of the dollar exchange rate

20:33 - 12/20/2020

https://www.almaalomah.com/2020/12/20/511154/

 

The information / Karbala

Karbala markets witnessed a clear recession after the increase in the exchange rate of the dollar, as movement decreased in an unusual way in a city that receives thousands of visitors daily.

Osama Al-Masoudi, an owner of an exhibition for the sale of electrical and household items, told Al-Maalouma that, “Two days ago, especially this day, we could not sell anything due to the increase in the price of goods by an estimated 20 percent from the original price as a result of the rise in the dollar exchange rate, and we expect this to continue Recession, so that the citizen becomes accustomed to the new prices, which makes us at risk of losing a lot of money.

While Mustafa Saad Saheb, selling mobile phones, added that "for the first time, we could not sell a single mobile device because the value of the device with a value of 120 thousand dinars increased to 150 thousand because the deal in purchasing devices is in dollars from the original supplier."

While the exchange rate hike was reflected in the foodstuff stores, which witnessed a recession this day also due to the increase in the prices of all imported goods. Ended 25 st

[6ly410]

Our correspondent: The high prices of foodstuffs in the Iraqi market

https://alahadnews.net/145372/خاص-بوكالة-العهد-نيوز/

 

Author: ahad6 On 12/20/2020 - 12:54 PM 222

The Iraqi market witnessed a remarkable increase in the prices of foodstuffs.

Al-Ahed News correspondent said, "The prices of foodstuffs in a beautiful Alwa are continuing to rise, as the price of rice jumped from 38 thousand to 50 thousand dinars, sugar from 31 to 40 thousand dinars, vegetable margarine from 14 to 25 thousand dinars, fine chickpeas. From 15 to 25 thousand dinars, coarse chickpeas from 40 to 55 thousand dinars, beans from 48 to 60 thousand dinars, honey and cigarettes will also be included in this increase