Central Bank Governor: The Iraqi Reserve is still in good standing

[yota691]

Central Bank Governor: The Iraqi Reserve is still in good standing

 

•  Today, 15:15
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Baghdad - IQ  

Central Bank Governor Mustafa Ghaleb Makhaif confirmed, Sunday, (December 20, 2020) that the Iraqi reserve is still in good standing, while noting that the Ministry of Finance is responsible for supporting the poor classes.

"The Ministry of Finance has officially requested an increase in the exchange rate to 1450 dinars to one dollar," Mukhaif said in a statement to state television, which will be shown this evening.

He added, "The World Bank in 2014 asked to raise the exchange rate of 1500 dinars against the dollar," noting that "the Iraqi reserve is still in good standing."

He added that "the Ministry of Finance is responsible for supporting the poor," noting that "it will double the sums for social welfare."

The financial governor called for "enhancing customs revenues," noting that "the ministry promised to automate the work of customs and ports."

 

[yota691]

Central Bank Governor clarifies current monetary reserve position and promises made by Finance

 

871 Policy 2020/12/20 15:19 Baghdad today -

Baghdad Central Bank Governor Mustafa Ghaleb Makhaif confirmed, Sunday, (December 20, 2020) that the Iraqi reserve is still in good standing, while noting that the Ministry of Finance is responsible for supporting the poor classes. “The Ministry of Finance officially requested an increase in the exchange rate to 1,450 dinars to one dollar,” Mechif said in a televised statement, indicating that “we requested the presence of the Minister of Finance to explain the reasons for raising the dollar’s value. He added, "The World Bank in 2014 asked to raise the exchange rate of 1500 dinars against the dollar," noting that "the Iraqi reserve is still in good standing." He added that "the Ministry of Finance is responsible for supporting the poor," noting that "it will double the sums for social welfare." The financial governor called for "enhancing customs revenues," noting that "the ministry promised to automate the work of customs and ports."

[yota691]

The chart reveals the "benefits of raising the dollar" and its effect on the markets

•  Time: 12/20/2020 12:25:55
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•  Read: 8,541 times

  

{Baghdad: Al Furat News} The Ministry of Planning revealed, on Sunday, the benefits of raising the dollar exchange rate and its impact on the markets.

A spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said in an interview with Al-Furat News that "raising the dollar exchange rate aims to stimulate the economy and take advantage of price differences to support the existing deficit. Even when the dollar was below this number, it was sold from the bank at a price of 1190, and in exchange, it is sold." More than that, the price differentials did not contribute to supporting the state's budget, but rather went in other directions. "
He added, "The difference now, with this increase, will go to the state's public treasury, which will contribute to covering a large part of the deficit and contribute to developing a lot of efficiency in the private sector. It will preserve the cash reserves at the central bank and the government will not be forced to borrow more, in addition to that inflation indicators will witness stability and as a result this measure." It would contribute to curbing the existing inflation. "
He pointed out that "perhaps there will be a recession in the markets, and this recession is due to the difficulty of absorbing this sudden change that has not been gradual." Declared, and the speculation with which we lost millions of dollars will end.

The Central Bank of Iraq announced yesterday, Saturday, the adoption of new exchange rates for the dollar, as it decided to raise the exchange rate to 1450 dinars per dollar.

Ali al-Rubaie

[yota691]

the central bank clarifies the current monetary reserve position

Author: AhadNA3 On 12/20/2020 - 3:52 PM  26

Ahed News - Baghdad

The Governor of the Central Bank, Mustafa Ghaleb Makhaif, confirmed today, Sunday, that the Iraqi reserve is still in good standing, while noting that the Ministry of Finance is responsible for supporting the poor classes.

"The Ministry of Finance officially requested an increase in the exchange rate to 1450 dinars to the dollar," Mekhaif said, noting that "we have requested the presence of the Minister of Finance to explain the reasons for raising the value of the dollar."

He added that "the World Bank in 2014 asked to raise the exchange rate of 1500 dinars against the dollar," noting that "the Iraqi reserve is still in good standing."

He continued, "The Ministry of Finance is responsible for supporting the poor," noting that "it will double the amounts for social care."

He called the financial governor to "enhance customs revenues," noting that "the ministry promised to automate the work of customs and ports."

[currenzcraze]

He is talking about a possible recession which he knows is unlikely.  Everyone knows that devaluation of currency creates inflation.  However, he is also talking about speculators having costs them money as well.  The speculators like Maliki, Barzani’s and Iran and little people like us they are hoping we panic and turn in our chunky money.  

13 years and not ready to give up yet.

[yota691]

Central Bank Governor: The Iraqi Reserve is still in good standing

Sunday 20 December 2020 - 15:07

Baghdad - conscious

Central Bank Governor Mustafa Ghaleb Makheif revealed today, Sunday, that the Ministry of Finance officially requested an increase in the exchange rate to 1450 dinars against the dollar, stressing that the Iraqi reserves of hard currency are still good.

“The Ministry of Finance has officially requested an increase in the exchange rate to 1450 dinars against the dollar, which led to market turmoil these days,” he said, for the tenth program, which will be shown today on the Iraqi News Channel, indicating that “the Central Bank requested the presence of the Minister of Finance to clarify the reasons for raising the exchange value. The dollar against the dinar. "

He added, "The World Bank had asked Iraq in 2014 to raise the dollar exchange rate to 1500 dinars," affirming that "Iraq's position on hard currency reserves is still good." 

The governor of the central bank said, "The high exchange rate of the dollar has affected the Iraqi market and the poor classes will be affected. The Ministry of Finance is responsible for supporting these classes, as it will double the amounts of social welfare."

He called on the Ministry of Finance to "enhance customs revenues and accelerate the automation of customs and border crossings to maximize state revenues."

[yota691]

14 minutes ago, currenzcraze said:

The speculators like Maliki, Barzani’s and Iran

I thought they was trading dinars for dollars..or I should say fake invoices for dollars. 

[currenzcraze]

They are but you also have to think if they were holding some back for the revaluation to bolster terrorist funds.  Maliki and his cronies thought they had the system down pat.  Now this throw a monkey wrench into their little scheme.  Not happy about the devaluation, but it makes one wonder if this just a chess game.  
 

Thanks Yota for all of your hard work!  Been a fan for years.

[yota691]

8 minutes ago, currenzcraze said:

They are but you also have to think if they were holding some back for the revaluation to bolster terrorist funds.

With all that cash they took in, they been enjoying the cash in. With the action with these thugs they probably thought a revaluation was never gonna happen..Thank you and Good Morning CC and all of DV..

[yota691]

Central Bank: Foreign reserves are still good

 

Central Bank Governor, Mustafa Ghalib

Banks Economy News - Baghdad Central Bank Governor Mustafa Ghaleb Makheif revealed today, Sunday, that the Ministry of Finance officially requested an increase in the exchange rate to 1450 dinars against the dollar, stressing that the Iraqi reserves of hard currency are still good . "The Ministry of Finance officially requested an increase in the exchange rate to 1450 dinars against the dollar, which led to market turmoil these days," fearful told Al-Iraqiya TV, noting that "the Central Bank requested the presence of the Minister of Finance to explain the reasons for raising the value of the dollar exchange against the dinar ." He added, "The World Bank had asked Iraq in 2014 to raise the dollar exchange rate to 1500 dinars," affirming that "Iraq's position on hard currency reserves is still good ." The governor of the central bank said, "The high exchange rate of the dollar has affected the Iraqi market and the poor classes will be affected. The Ministry of Finance is responsible for supporting these classes, as it will double the amounts of social welfare ." He called on the Ministry of Finance to "enhance customs revenues and accelerate the automation of customs and border crossings to maximize state revenues ."

Number of observations 74   Date of addendum 12/20/2020

[horsesoldier]

A Front Row seat watching the Greatest Show on Earth. Dingaling Bros. Barnum & Bailey Circus got nutin’ on this freak show.

[rvmydinar]

On 12/20/2020 at 8:19 PM, currenzcraze said:

He is talking about a possible recession which he knows is unlikely.  Everyone knows that devaluation of currency creates inflation.  However, he is also talking about speculators having costs them money as well.  The speculators like Maliki, Barzani’s and Iran and little people like us they are hoping we panic and turn in our chunky money.  

13 years and not ready to give up yet.

Me too. I am giving up either. Hell no. There is no word " give up " in my dictionary.

[yota691]

Warning of a decline in foreign reserves: the national currency is in danger

09:24 - 06/19/2021

 

  

 

Information / Baghdad.

The economic expert, Nabil Jabbar Al-Ali, warned, on Saturday, of the decline in foreign reserves, indicating that the national currency is in danger when the bank continues to sell the dollar in a massive manner.

Al-Ali said in a statement to "The Information", that "the decline in the reserves of hard currency is threatening the local currency," noting that "the government has failed miserably because of its unclear monetary policy."

He added that "the currency auction provides significant financial gains for some banks as a result of exchange rate differences," stressing that "the volume of dollar sales increased dramatically due to the monetary policy pursued by the government, and that this increase contributes to reducing the central bank's foreign reserves."

The Parliamentary Committee on Economy and Investment had confirmed earlier that the Central Bank had increased the currency pumping in order to maintain the exchange rate, but it had failed to do so. finished/ 25 h

[Laid Back]

Same story of the last 18 years. Currency auctions, corruption, depletion of foreign currency reserves.

Go End of MCP

Go new monetary policy 

Go RV

 

[Wiljor]

5 hours ago, Laid Back said:

Same story of the last 18 years. Currency auctions, corruption, depletion of foreign currency reserves.

Go End of MCP

Go new monetary policy 

Go RV

 

Wash, rinse, repeat brother. 😵‍💫

[yota691]

Economist for / NINA /: The current exchange rate is important for maintaining foreign reserves

Sunday 04 July 2021 11:10 | Economic Number of readings: 756

Baghdad / NINA / - The economic expert, Maytham Al-Aibi, confirmed that: the current exchange rate is important for maintaining foreign reserves.

He told the National Iraqi News Agency ( NINA ) that: There is a shortcoming of some deputies in understanding the issue of the exchange rate, as there is a perception that changing it is related to the financial goal only, which is to reduce the deficit.

Al-Aibi added that: the exchange rate is linked to a number of variables, including its preservation of foreign reserves and its relationship to improving competitiveness and setting the balance of payments, as well as its role in raising the levels of output growth and its components, and then employment.

He explained that: the rise or fall in the price of oil has nothing to do with raising or decreasing the value of the currency. / End 3