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Parliamentary Committee: The dollar will not return to its previous price until after 4 years


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The information / Baghdad ..
The Legal Committee in the House of Representatives confirmed, on Saturday, that the issue of the dollar’s exchange rate has been finally settled and there is no intention to return to its previous price until after four years have passed.
A member of the committee, Salim Hamza, said in a statement to / the information / that “the exchange rate of the dollar has been decided definitively and there is no close return to its previous price,” indicating that “the exchange rate of the dollar has been fixed at its current price and has been implemented.”
Hamza added, "We must wait for the next elections in 2025, that is, after four years, so that we can control the exchange rate."
It is worth noting that the rise in the exchange rate of the dollar came in conjunction with the holy month of Ramadan, when markets and food products witnessed a significant increase. Ended / 25 W.

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50 minutes ago, yota691 said:
%D8%AF%D9%88%D9%84%D8%A7%D8%B1-1-696x435

The information / Baghdad ..
The Legal Committee in the House of Representatives confirmed, on Saturday, that the issue of the dollar’s exchange rate has been finally settled and there is no intention to return to its previous price until after four years have passed.
A member of the committee, Salim Hamza, said in a statement to / the information / that “the exchange rate of the dollar has been decided definitively and there is no close return to its previous price,” indicating that “the exchange rate of the dollar has been fixed at its current price and has been implemented.”
Hamza added, "We must wait for the next elections in 2025, that is, after four years, so that we can control the exchange rate."
It is worth noting that the rise in the exchange rate of the dollar came in conjunction with the holy month of Ramadan, when markets and food products witnessed a significant increase. Ended / 25 W.

 

50 minutes ago, yota691 said:
%D8%AF%D9%88%D9%84%D8%A7%D8%B1-1-696x435

The information / Baghdad ..
The Legal Committee in the House of Representatives confirmed, on Saturday, that the issue of the dollar’s exchange rate has been finally settled and there is no intention to return to its previous price until after four years have passed.
A member of the committee, Salim Hamza, said in a statement to / the information / that “the exchange rate of the dollar has been decided definitively and there is no close return to its previous price,” indicating that “the exchange rate of the dollar has been fixed at its current price and has been implemented.”
Hamza added, "We must wait for the next elections in 2025, that is, after four years, so that we can control the exchange rate."
It is worth noting that the rise in the exchange rate of the dollar came in conjunction with the holy month of Ramadan, when markets and food products witnessed a significant increase. Ended / 25 W.

I for one don’t believe this 

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This is coming from the Parliament Committee the same people that can’t disperse the budget. Whatever, but I wouldn’t put it pass Iraq because they haven’t done anything in 18 years but lower the exchange rate. Everyday the news gets worst. If they leave the exchange rate at 1450 their economy will be in the same situation it is in now in the next 4 years and the world will have forgotten about Iraq. As long as they continue to BS  the world is turning to solar and electric power. They need to address the drones coming out of Iran that is ruining  their F16 program. This is not coming from the CBI but the CBI Governor did say the exchange rate will remain at 1450 for a long time. No one will give a damn in a minute and they will be known Internationally as Iran’s little B&$@h!! Don’t hold your breath because they just might be telling the truth! 

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2 hours ago, yota691 said:

Hamza added, "We must wait for the next elections in 2025, that is, after four years, so that we can control the exchange rate."

2025 means 4 more years? Is it another BS  lies and delays to distract the dinar investors from buying more dinars? By the way, who the h#$l is Hamza? Is Hamza someone important in the cbi? I read the article posted by a member here, and in the article, Abadi said " three or four more years " from year 2018 ( the year of the article ). That means we have to wait until 2022, according to abadi. Whom do we believe now folks? Abadi ( year 2021 through 2022 ) or Hamza ( year 2025 )? So many lies, BS, and delays many many times.

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4 minutes ago, DWS112 said:

Darn...

The IMF listed a "holding rate"  for Iraq at a lower level for 2021.   LINK

I don’t know if it makes any difference, but it actually says “holdings rate”

 

The holdings rate is the exchange rate of a member’s currency against the SDR. The rate is derived from the currency's representative exchange rate, as reported by the central bank, normally against the U.S. dollar at spot market rates and rounded to six significant digits.

 

 I’ve never followed this, and I have no idea what it means...

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“We must wait for the next elections in 2025, that is, after four years, so that we can control the exchange rate."image.jpeg.e82e12bbe0a2b7ae5bd333836c6d4b84.jpeg


Loos like there’s a possibility of an RV between 2022 and 2025

 

 

 

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2 hours ago, DWS112 said:

Darn...

The IMF listed a "holding rate"  for Iraq at a lower level for 2021.   LINK

Iraq's holding rate ( before the fall of saddam regime ) showed that the highest rate on april 30, 1985 was=3.24 usd and the lowest rate on september 08, 2003 was= 2.53 usd. So hopefully, when iraq rv the iqd one day, the rate is between 2.53 usd - 3.24 usd.

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28 minutes ago, Laid Back said:

“We must wait for the next elections in 2025, that is, after four years, so that we can control the exchange rate."image.jpeg.e82e12bbe0a2b7ae5bd333836c6d4b84.jpeg


Looks like there’s a possibility of an RV between 2022 and 2025

We can only hope. we can't control and believe 100% what iraq says and does today or tomorrow or next week or next month because iraq is full of lies, BS, and delays.

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What the hell does an election have to do with the exchange rate! The PM may want to use the exchange rate politically and push the button prior to an election to gain support. Okay. But the actual worth of a currency or the revision of an exchange rate has nothing to do with an election. Ask Kuwait. IMO the PM would lose the poor as supporters keeping the exchange rate low for 4 more years. 

 

 

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If this is true then they can kiss the Grand Port of Faw Off. GE and Seimens working on a 125 Mega Watt Grid to get Electricity out to the people. They can forget all about becoming the Central Hub of the Middle East plus ALL the Arab States that are going to possibly Suffer a loss of Value in their Currency as well.

 

They expect US to believe that all these International Companies there rebuilding Iraq are going to be Okay with Working for Nothing for the Next 4 Years?

 

I don't believe it.

 

Karsten

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Could this be miss direction to scare speculators away? 
This gives me four more years to stockpile more Dinar, sounds good to me, I’m still relatively young. 
At anytime, it is going to happen! Let’s GO!!!! The worst the news the better, JMO 👍

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6 hours ago, yota691 said:

The information / Baghdad ..
The Legal Committee in the House of Representatives confirmed, on Saturday, that the issue of the dollar’s exchange rate has been finally settled and there is no intention to return to its previous price until after four years have passed.
A member of the committee, Salim Hamza, said in a statement to / the information / that “the exchange rate of the dollar has been decided definitively and there is no close return to its previous price,” indicating that “the exchange rate of the dollar has been fixed at its current price and has been implemented.”
Hamza added, "We must wait for the next elections in 2025, that is, after four years, so that we can control the exchange rate."
It is worth noting that the rise in the exchange rate of the dollar came in conjunction with the holy month of Ramadan, when markets and food products witnessed a significant increase. Ended / 25 W.

One of these things is not like the other, one of these things just doesn't belong, if you can guess which thing is not like the other, before I finish my dinar song!

 

It's the legal committee not the whole parliament, and it is only one member of that committee speaking here. If my memory serves me correctly there was a great legal debacle over the changing of the exchange rate regarding the legal right to do so, a) Was it the Governor of the CBI or b) the Minister of the Finance. While the two roles are greatly different, they both deal with Iraq's money.  The CBI is responsible to ensure that there is a money supply to the banks to provide loans at desired interest rates. This is included in monetary policy which the CBI is responsible for. 

The Parliament is responsible for spending it, in terms of projects etc. This is called fiscal policy and which a budget is needed to show where the country's revenues have been allocated. 

Naturally the two can be in conflict. The CBI wants to save and build its reserves to back its currency while the govt wants that money to spend. Therefore the two can be at logger heads, but neither one can have control over the other.

 

It was my understanding that the legal committee agreed that only the governor of the CBI was entitled to make any changes to the ex change and it was outside the realm of the Minister of Finance to interfere with that.

 

So in hindsight it seems that the MoF are no right in his assertion that he could adjust the rate according to his wishes. It was mentioned in articles that both the governor and MoF were to be question in the next session of parliament. The main cause of concern was why did the governor capitulate with the MoF in changing the rate. Was the governor threatened in any way??? Who knows? 

 

Regardless of the reason, the poor in the country has suffered. 

 

So bottom line,  the government as in the Iraqi parliament can't adjust the exchange rate now or ever, not even in 4 years ten years, etc. It will always be the governor of the CBI right to make the change.

 

Even if the dinar is currently fixed in its ex rate, it doesn't mean it can be changed later on again at the prerogative of the CBI.

 

So whatever Hamza says in this article it's nothing more than opinion oh his part or at worst an attempt to dissuade speculation in the dinar.

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LMAO!!! These idiots are not even entertaining anymore. Carrillo is absolutely correct, not only does the elections have nothing to do with the exchange rate but parliament either. 
Last November when they lowered the rate from 1190 to 1450 nobody but the CBI did that. 
I’m thinking all these representatives are thinking the rest of the world is as dumb as their fellow Iraqis are…

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Finance minister said.. we want foreign investor to invest in iraq. But we must make sure they get their return.

 

Prime minister said.. next stage is reconstruction.

 

How goverment can raise annual income of people.. rv is easy way to do it. Also can contribute to investor in iraq.

 

Rv is anytime from now

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