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An Iraqi official reveals the mechanisms of the "central" to control the exchange rate of the dollar


yota691
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 2021-04-19 06:28
 

 

Shafaq News / The appearance of Muhammad Salih, Advisor to the Prime Minister for Financial and Economic Affairs, confirmed on Monday that it is not permissible to float the currency in Iraq, indicating that this leads to the collapse of the market.

Saleh said in an interview with Shafaq News; It is "not permissible to float the currency in Iraq because the market will collapse in this case," indicating that "the entry and exit of hard currency does not enter the market, which is only an exit for it, but the government is the one that brings this hard currency."

 

Saleh added, "If the government withdraws its hand, the supply will stop and the demand increases, and thus the market will collapse," stressing that "the float takes place in economies in which supply and demand come from the market and that the state enters to buy and sell to create a balance in the price with its reserves."

He pointed out that "the problem in Iraq is that the market is demanding and that the state is offering, and in the event that the Central Bank does not sell the dollar, it means that all the supply has stopped and there is no other offer, and if there is another offer, it is a little offer that is not enough to meet the demand and therefore the prices will rise." Because demand will be more than supply. "

He stressed that "the state is the bidder in Iraq, and therefore if the state tends to float, then this means there is no supply, and thus prices collapse."

Floating currency is completely liberalizing the exchange rate, so the government or the central bank does not interfere in determining it directly, but rather it is secreted automatically in the currency market through the supply and demand mechanism that allows setting the national currency exchange rate against foreign currencies.

It is noteworthy that some officials talk from time to time on the need to float and liberalize the currency to maintain hard currency reserves at the Central Bank.

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10 minutes ago, WheresmyRV? said:

Fixed rate, float rate....just do something please! :rocking-chair:


Too right .... they’ll talk this to death ( like everything else ) before anything will be done about it, won’t they.

As if somehow 18 + years hasn’t been long enough to grasp the outcome. What’s hilarious ( and sad ) is they know damn well the outcome. Then it’s full circle to talking it to death first....makes ya ( me too ) crazy huh.

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17 minutes ago, horsesoldier said:


Too right .... they’ll talk this to death ( like everything else ) before anything will be done about it, won’t they.

As if somehow 18 + years hasn’t been long enough to grasp the outcome. What’s hilarious ( and sad ) is they know damn well the outcome. Then it’s full circle to talking it to death first....makes ya ( me too ) crazy huh.

Exactly! At this point, just who do they think they’re fooling anymore???

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The best solution would be first time higher rv rate at 3.22 usd instead of 1450. after that float it little by little for many many years. And i won't complain if come out at 3.22 usd and i will run to the bank and never look back.

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41 minutes ago, Half Crazy Runner said:

Exactly! At this point, just who do they think they’re fooling anymore???


You'd think by their actions they think they still believe they’re pulling the wool over everyone’s eyes. They don’t care, they’re gonna do whatever the hell they want  aren’t they. Butt Heads All. 

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14 minutes ago, rvmydinar said:

The best solution would be first time higher rv rate at 3.22 usd instead of 1450. after that float it little by little for many many years. And i won't complain if come out at 3.22 usd and i will run to the bank and never look back.

 

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They are not fooling us. They have said in so many articles they are not going to increase the exchange rate and now they are not floating the exchange rate. I believe them and it is not smoke and mirrors. Vietnam has suppressed their exchange rate for years and their economy is doing well. I think I have a better chance with the dong than this mess. I believe Iraq is going to do the same thing! We waited all of these years and the dinar devalued and I believe it is going to remain at 1450. Now they are talking about passing the Oil and Gas Law, don't hold your breath! Is there a site similar to this one about the Vietnamese Dong? If anyone has any information please let me know. I've had enough of this BS!! 

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30 minutes ago, GreedyDinar07 said:

They are not fooling us. They have said in so many articles they are not going to increase the exchange rate and now they are not floating the exchange rate. I believe them and it is not smoke and mirrors. Vietnam has suppressed their exchange rate for years and their economy is doing well. I think I have a better chance with the dong than this mess. I believe Iraq is going to do the same thing! We waited all of these years and the dinar devalued and I believe it is going to remain at 1450. Now they are talking about passing the Oil and Gas Law, don't hold your breath! Is there a site similar to this one about the Vietnamese Dong? If anyone has any information please let me know. I've had enough of this BS!! 

Would you please just go away?????? You have been here since 2012 and I am surprised that any of this surprises you. It’s Iraq. They do whatever they want whenever they want. Getting mad about it all isn’t going to change anything. Spewing your constant negativity all over this site isn’t good for anyone!!! Find a new site you can go to that might welcome your BLAH BLAH BLAH!!! 🤦🏻

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Jaygo why don't you grow up!! Nowhere in that last post did I indicate that I was angry. You act just like a spoil child when someone doesn't agree with your perspective That is my opinion and I am not like you who sit here and dream about a 3 plus dollar exchange rate when the articles that are posted indicate something otherwise!! Something is seriously wrong with you! I asked did anyone have information about a site similar to this one relating to the dong and you got offended! To bad! Deal with it!! And since you asked for my real opinion...Hell no the IQD is not close to a RV!!! There!! I said it!! It is people like you that mislead people without any facts to support your magical RV. The man stated the dinar will not  float and they have also stated the exchange rate will remain at 1450! If you can't post any valid information supporting your RV then why don't you stay away!! I don't give a damn about how you feel! I am not here to appease to you or anybody else so from now on STOP READING MY POST!! People have been here for years and we have seen the same thing over and over again! If we have our doubts, we have a right to do so!!! Gessh!! 

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2 hours ago, GreedyDinar07 said:

Jaygo why don't you grow up!! Nowhere in that last post did I indicate that I was angry. You act just like a spoil child when someone doesn't agree with your perspective That is my opinion and I am not like you who sit here and dream about a 3 plus dollar exchange rate when the articles that are posted indicate something otherwise!! Something is seriously wrong with you! I asked did anyone have information about a site similar to this one relating to the dong and you got offended! To bad! Deal with it!! And since you asked for my real opinion...Hell no the IQD is not close to a RV!!! There!! I said it!! It is people like you that mislead people without any facts to support system" rel="">support your magical RV. The man stated the dinar will not  float and they have also stated the exchange rate will remain at 1450! If you can't post any valid information supporting your RV then why don't you stay away!! I don't give a damn about how you feel! I am not here to appease to you or anybody else so from now on STOP READING MY POST!! People have been here for years and we have seen the same thing over and over again! If we have our doubts, we have a right to do so!!! Gessh!! 

Says @Fake News 🤣

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5 hours ago, GreedyDinar07 said:

They are not fooling us. They have said in so many articles they are not going to increase the exchange rate and now they are not floating the exchange rate. I believe them and it is not smoke and mirrors. Vietnam has suppressed their exchange rate for years and their economy is doing well. I think I have a better chance with the dong than this mess. I believe Iraq is going to do the same thing! We waited all of these years and the dinar devalued and I believe it is going to remain at 1450. Now they are talking about passing the Oil and Gas Law, don't hold your breath! Is there a site similar to this one about the Vietnamese Dong? If anyone has any information please let me know. I've had enough of this BS!! 

This reminds me of a Monty Python skit:

 

 

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Advisor to "Al-Kazemi": The strong relations suppor t the openness of the Omani and Iraqi markets

Advisor to "Al-Kazemi": The strong relations support the openness of the Omani and Iraqi markets
Mazhar Muhammad Salih, Financial Adviser to the Prime Minister of Iraq
 

Mubasher: Mazhar Muhammad Salih, the financial advisor to the Iraqi prime minister, confirmed that the Omani and Iraqi markets are open to each other without hindrances as a result of the strong diplomatic relations that bind the two brotherly countries.

Saleh described the Omani-Iraqi relations as "historical", explaining that the two brotherly countries have solid historical ties since Iraq received in the 1960s the expatriates of Omani students to study in Iraqi schools, colleges and universities, ending with the Omani labor market's acceptance of Iraqi expertise from various fields.

In statements to the Oman News Agency, Saleh pointed out that there is complementarity between the Iraqi investment law in encouraging investment and foreign investment on the one hand and the development of relations between Iraq and its Arab environment and its brotherly neighbors on the other hand, where integration and cooperation is in accordance with a priority that investment is the focus of consolidating and strengthening relations between Iraq And its vicinity by providing the correct Iraqi climate for the flow of investment interests into the Iraqi economic arena.

On the other hand, the financial advisor to the head of the Iraqi government touched on the governmental measures taken to limit the economic crisis that Iraq is going through, indicating that "the federal budget for the year 2021 remains a safety valve for the renaissance of economic activity because public spending constitutes approximately 50 percent of the composition of the output." The gross domestic product in Iraq and the government economy is still the main driver of macroeconomic activity in the country.

The advisor to the Iraqi Prime Minister explained that the launch of government investment projects on the one hand and the increase in the banking credit activity provided to the Iraqi market economy, with the support and support of the Iraqi Central Bank, has begun to form a new road map that encourages private investment by facilitating government financial leverage towards operating the business sector and reducing unemployment levels.

And he added that despite the reduction in the exchange rate of the Iraqi dinar for reasons related to the current account deficit of the balance of payments and the deficit of the government budget, the prices of goods and services have remained unchanged, which means the continuation of government support in addition to the expansion of the ration card program that targets the poorest classes.

Saleh stressed that there are immediate policies to address poverty and to provide food and necessities that suit the livelihood of low-income classes in Iraq who are currently on the poverty line and maintain their lifelong sustainability, as Iraq moves to develop the ration card program to direct it to marginalized, poor and deprived segments in terms of the prepared quantities of goods The necessary foodstuffs, their regularity and number, in addition to reviewing the tariffs on the necessary foodstuffs to be the lowest possible to ensure that the demand for foodstuffs is met through the availability of adequate supply and at stable prices.

He added that the monetary policy of the Central Bank of Iraq, through the policy of stability in the general level of prices, works to provide the desired foreign currency to finance foreign trade at a fixed exchange rate, which leads to price stability and price expectations in light of efficient foreign reserves in order to achieve price stability and moderation in the standard of living.

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7 hours ago, screwball said:

yep fixed managed and trade within 2% currency band...they are talking about it so i am very happy.

 

 

 

best i remember shabibi currency plan was to enter close to where he wanted the value to be or what could be sustained , fixed / pegged to the usd or basket of currencies not to fluctuant more than 2 percent every 90 days hopefully thats why Selah stated no float but who knows .... right , cheers    

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An Iraqi official reveals the mechanisms of the "central" to control the exchange rate of the dollar

An Iraqi official reveals the mechanisms of the "central" to control the exchange rate of the dollar
Dinar and dollar
 

 

Mubasher: The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, set out today, Wednesday, the mechanisms followed by the Central Bank of Iraq to control the exchange rate.

Saleh said to the Iraqi News Agency (INA), that "the window of the Central Bank of Iraq for the sale and purchase of foreign currency is a tool for the stability and stability of the exchange rate through daily interventions in the monetary market that mainly aim to withdraw high levels of liquidity in the Iraqi dinar from the market, which is called (the sterilization policy). Cash) ".

The advisor to the prime minister added, "The desired market demand for foreign currency is met by exchanging the dinar for the foreign exchange that is in the possession of the monetary authority, because that authority is the monetary issuance authority, that is, it is the one who issued the same dinar and it is concerned with maintaining the stability of its value and purchasing power."

 And Saleh continued: Those excess levels of cash liquidity in dinars are pressing, generating a demand for foreign currency, which means a demand for foreign goods, services and benefits, as foreign exchange contributes to financing Iraq's foreign trade, that is, import trade, which provides the supply of foreign exchange and mainly to the market that is In the possession of the Central Bank of Iraq.

He pointed out that "based on the foregoing, the daily monetary policy operations that perform their function by controlling the cash liquidity in dinars and exchanging it at a stable exchange rate (as a nominal fixer of the external value of money), that is, to absorb that liquidity after exchanging it in foreign currency at a fixed rate, it must be reflected in the stability of the exchange rate and from Then the price calm and stability successively, because the price is the value of the currency, expressed in money. "

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calendar.png 2021/04/21
 
views.png 98
 
 
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Baghdad / Al-Mawred News

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified, today, Wednesday, the mechanisms followed by the Central Bank of Iraq to control the exchange rate, while responding to fears of a greater rise in the coming period.
 Saleh told the official agency that "the window of the Central Bank of Iraq for the sale and purchase of foreign currency is a tool for the stability and stability of the exchange rate through daily interventions in the monetary market, which mainly aim to withdraw high levels of liquidity in the Iraqi dinar from the market, which is called (the policy of monetary sterilization)."
 He added, "Where the desired market demand for foreign currency is met by exchanging the dinar for foreign cash that is in the possession of the monetary authority, because that authority is the monetary issuance authority, that is, it is the one who issued the same dinar and it is concerned with maintaining the stability of its value and purchasing power."
 He continued, "Those excess levels of cash liquidity in dinars are pressing, generating a demand for foreign currency, which means a demand for foreign goods, services and benefits, as foreign exchange contributes to financing Iraq's foreign trade, that is, import trade, which provides the supply of foreign currency and mainly to the market that is in the bank’s possession. The Iraqi Central Bank, no one else, through the accumulation of its efficient reserves of foreign currency represented by the very high coverage of the dinar, so the Central Bank undertakes the sale from its window that practices defense of the stability of the exchange rate within its official prescribed limits of 1450 dinars per dollar.
 He pointed out that "based on the foregoing, the daily monetary policy operations that perform their function by controlling the cash liquidity in dinars and exchanging it at a stable exchange rate (as a nominal fixer of the external value of money), that is to absorb that liquidity after exchanging it in the foreign currency at a fixed rate, it must be reflected in the stability of the exchange rate and from Then the price calm and stability successively, because the price is the value of the currency, expressed in money.

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Editing date: 4/21/2021 20:48 • 82 read times
http://www.alliraqnews.com/uploads/news/image/medium/story_img_608065858e58b.jpg
[Baghdad-Where]
The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, on Wednesday, identified the mechanisms followed by the Central Bank of Iraq to control the exchange rate, while responding to fears of a greater rise in the coming period. According to the official agency, Saleh said, "The Central Bank of Iraq window for selling and buying foreign currency is a tool for the stability and stability of the exchange rate through daily interventions in the monetary market that mainly aim to withdraw high levels of liquidity in the Iraqi dinar from the market, which is called (the monetary sterilization policy). ".
He added, "Where the desired market demand for foreign currency is met by exchanging the dinar for foreign cash that is in the possession of the monetary authority, because that authority is the monetary issuance authority, that is, it is the one who issued the same dinar and it is concerned with maintaining the stability of its value and purchasing power."
He continued, "Those excess levels of cash liquidity in dinars are pressing, generating a demand for foreign currency, which means a demand for foreign goods, services and benefits, as foreign exchange contributes to financing Iraq's foreign trade, that is, import trade, which provides the supply of foreign currency and mainly to the market that is in the bank’s possession. The Iraqi Central Bank, no one else, through the accumulation of its efficient reserves of foreign currency represented by the very high coverage of the dinar, so the Central Bank undertakes the sale from its window that practices defense of the stability of the exchange rate within its official prescribed limits of 1450 dinars per dollar.
He pointed out that "based on the foregoing, the daily monetary policy operations that perform their function by controlling the monetary liquidity in dinars and exchanging them at a stable exchange rate (as a nominal fixer of the external value of money), that is to absorb that liquidity after exchanging it in the foreign currency at a fixed rate, it must be reflected in the stability of the exchange rate and from Then the price calm and stability successively because the price is the value of the currency, expressed in money
 
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Al-Kazemi's advisor determines the mechanisms used to control the dollar price

Economie08:40 - 21/04/2021

 
image
 
 

 

BAGHDAD - Mawazine News,
the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, identified, on Wednesday, the mechanisms followed by the Central Bank of Iraq to control the exchange rate, while responding to fears of a greater rise in the coming period.
 According to the official agency, Saleh said, "The Central Bank of Iraq window for selling and buying foreign currency is a tool for the stability and stability of the exchange rate through daily interventions in the monetary market that mainly aim to withdraw high levels of liquidity in the Iraqi dinar from the market, which is called (the monetary sterilization policy). ".
 He added, "Where the desired market demand for foreign currency is met by exchanging the dinar for foreign cash that is in the possession of the monetary authority, because that authority is the monetary issuance authority, that is, it is the one who issued the same dinar and it is concerned with maintaining the stability of its value and purchasing power."
 He continued, "Those excess levels of cash liquidity in dinars are pressing, generating a demand for foreign currency, which means a demand for foreign goods, services and benefits, as foreign exchange contributes to financing Iraq's foreign trade, that is, import trade, which provides the supply of foreign currency and mainly to the market that is in the bank’s possession. The Iraqi Central Bank, no one else, through the accumulation of its efficient reserves of foreign currency represented by the very high coverage of the dinar, so the Central Bank undertakes the sale from its window that practices defense of the stability of the exchange rate within its official prescribed limits of 1450 dinars per dollar.
 He pointed out that "based on the foregoing, the daily monetary policy operations that perform their function by controlling the cash liquidity in dinars and exchanging it at a stable exchange rate (as a nominal fixer of the external value of money), that is to absorb that liquidity after exchanging it in the foreign currency at a fixed rate, it must be reflected in the stability of the exchange rate and from Then the price calm and stability successively, because the price is the value of the currency, expressed in cash. "Ended 6/29

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  • 2 weeks later...
On 4/21/2021 at 11:47 PM, yota691 said:
Editing date: 4/21/2021 20:48 • 82 read times
[Baghdad-Where]
The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, on Wednesday, identified the mechanisms followed by the Central Bank of Iraq to control the exchange rate, while responding to fears of a greater rise in the coming period. According to the official agency, Saleh said, "The Central Bank of Iraq window for selling and buying foreign currency is a tool for the stability and stability of the exchange rate through daily interventions in the monetary market that mainly aim to withdraw high levels of liquidity in the Iraqi dinar from the market, which is called (the monetary sterilization policy). ".
He added, "Where the desired market demand for foreign currency is met by exchanging the dinar for foreign cash that is in the possession of the monetary authority, because that authority is the monetary issuance authority, that is, it is the one who issued the same dinar and it is concerned with maintaining the stability of its value and purchasing power."
He continued, "Those excess levels of cash liquidity in dinars are pressing, generating a demand for foreign currency, which means a demand for foreign goods, services and benefits, as foreign exchange contributes to financing Iraq's foreign trade, that is, import trade, which provides the supply of foreign currency and mainly to the market that is in the bank’s possession. The Iraqi Central Bank, no one else, through the accumulation of its efficient reserves of foreign currency represented by the very high coverage of the dinar, so the Central Bank undertakes the sale from its window that practices defense of the stability of the exchange rate within its official prescribed limits of 1450 dinars per dollar.
He pointed out that "based on the foregoing, the daily monetary policy operations that perform their function by controlling the monetary liquidity in dinars and exchanging them at a stable exchange rate (as a nominal fixer of the external value of money), that is to absorb that liquidity after exchanging it in the foreign currency at a fixed rate, it must be reflected in the stability of the exchange rate and from Then the price calm and stability successively because the price is the value of the currency, expressed in money
 

I could be way off, but is this article to say that they look to reduce the ammount of iraqi dinars floating around within there nation prior to an RV??

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