Iraq: a new rise in the dollar exchange rate and warnings of exacerbating poverty rates

[yota691]

Measures to deter price manipulative traders

Saturday 24th April 2021 99

 

 Baghdad: Wafa Amer 

 

Baghdad governorate formed a committee to follow up the deterrent legal measures against traders manipulating prices during the holy month of Ramadan, stressing that it will take measures to limit its rise.

Governor Muhammad Jaber Al-Atta told Al-Sabah: “The governorate has thoroughly studied the market’s situation and observed that many merchants raised the prices of foodstuffs and goods significantly, which led to the inability of those with limited incomes to cover their needs during the holy month of Ramadan.”

On the sixth of this month, the government decided to open the door to importing foodstuffs for a specific period to be agreed upon, to counter rising prices, while it directed the formation of a team to monitor prices in the markets.

Al-Atta pointed out that “the governorate and in light of this formed a committee to follow up the price hikes that some greedy and benefactor traders are doing,” warning that “manipulating citizens’ sustenance will be confronted with the force of law and the judiciary, through vigorous and continuous monitoring of economic security detachments.

He explained that "the committee will take measures to limit the rise in prices and manipulate them to avoid exploiting the crisis of the rise of the dollar," calling on traders in the province "not to manipulate prices or raise them against the background of the high exchange rate of the dollar."

[yota691]

The Economic Committee: It takes time to deal with the exchange rate hike

Saturday 24th April 2021 87

 

 Baghdad: Wissam Al-Mulla

 

The Parliamentary Economic and Investment Committee indicated, on Friday, that the treatment of the exchange rate increase needs time.

A member of the committee, Salem Al-Tufayli, told "Consent": "The real treatments for the exchange rate increase need time for market stability."

He added, "Many MPs demanded a reduction in the dollar price, not at the previous rate, but rather gradually so that the citizen would not be affected economically," noting that "the citizen with a limited income and the poor was affected by the change of the exchange rate."

He pointed out that "the budget supported the private sector and large projects in order to attract part of the workforce so that there would be a work movement and that his committee presented a program and recommendations to the Prime Minister that included supporting the private, agricultural and industrial sectors," explaining that "Iraq has all the infrastructure to improve the agricultural and industrial reality, but We need honest and efficient hands. "

[yota691]

Parliamentary committee: The government has failed to contain the economic situation and Iraq has entered a major recession

17:23 - 05/01/2021

 

  

Information / Special ...

A member of the Parliamentary Economic Committee, Representative Nada Shaker, warned on Saturday of a major recession that is consuming Iraq's markets now due to government policies.

"A major recession in the Iraqi market for weeks has pushed its activity to the lowest rates, which gives a negative signal on the deteriorating economic situation that millions of Iraqis are paying for in all the provinces," Shaker said.

She added, "The government’s policy of containing high prices and controlling prices has failed to achieve its goal. Rather, there is not yet a clear mechanism for controlling prices, which has led to a double increase in the rates of poverty and unemployment."

She pointed out that "the image that reaches the influential leaders of the countries does not reflect the reality of the general economic scene in terms of the tragic and its effects on the poor and the simple," noting that "the situation is getting more complicated day by day in light of the existence of any government strategy to contain the price fever created by the raising of the dollar price. Without any alternatives that protect the citizen from the high prices.

The Iraqi markets are suffering from the repercussions of raising the exchange rate, despite the passage of months after its application, due to the inability to control prices. Finished 25 F.

[yota691]

Warnings of the continued increase in inflation rates

Monday 03th May 2021 80

 

 Baghdad: Haider al-Rubaie

An economist warned of the negative repercussions that inflation could have on the rates of sustainable development in Iraq, stressing that the continued rise in its rates directly affects the redistribution of real incomes and deepens social inequality, while he attributed the reasons for the increase in inflation rates in Iraq to the low price The exchange of the dinar against the dollar, calling for the need to adopt a target rate of inflation annually to be fixed in the general budget.

And the Ministry of Planning, according to its spokesman, Abdul Zahra Al-Hendai, recorded a clear increase in inflation rates, indicating that the annual inflation during the month of March rose by (4.3%).

Al-Hindawi pointed out that the rate of inflation during the five months extending between (November 2020 - March 2021) increased by (5.6%), confirming that there was an increase in the prices of food and non-alcoholic drinks by (2.2%) during the last month of March, and clothes and shoes by (2.4%). Household supplies and equipment by (0.3%), in addition to the increase in the costs of the health department by (0.4%), and transportation by (0.2%).

 

exchange rate

The economist and professor at the College of Business Economics at Al-Nahrain University, Dr. Sattar Al-Bayati, spoke to Al-Sabah for a number of reasons, he said: They contributed to the increase in inflation rates, placing at the forefront of those reasons the rise in the exchange rate of the dollar in exchange for the decrease in the exchange rate of the dinar, referring to The second reason is called "imported inflation", which results from the continuation of imports without objective controls or oversight, especially with the absence of the local product and the total dependence on importing consumer goods and foodstuffs. Al-Bayati believes that “the lack of confidence between the public and the banking sector is a direct factor for the high rates of inflation,” indicating that “the relationship between the two had been based on trust and awareness of the importance of the banking sector’s role in the economy, the role of banks would have been more effective in supporting The national economy is through fatigue of savings and directing them towards investment ». 

 

Negative effects

Stressing that inflation can leave significant negative effects, mainly concentrated on the redistribution of real incomes to different social strata, and deepen social inequality, in addition to the fact that its continuous high rates are capable of affecting the real values of the financial and material assets of individuals, who keep their wealth in the form of financial assets as a form. As a form of wealth retention, they suffer a great loss in times of inflation. Al-Bayati explained that inflation has clear negative effects on the level of consumption, due to the decrease in the real value of incomes, indicating that “what individuals were getting from their basic needs by entering their known incomes before inflation, they will not get them in light of inflation, because of the low real value of money.” 

 

Inflation and the Budget

In order to mitigate the effects of inflation, Al-Bayati suggested “adopting an annual target rate for inflation to be fixed in the general budget, and that the competent authorities seek to maintain this target rate,” pointing out that if this matter could not be approved in the budget, then my Ministries of Finance and Planning should, as well as The Central Bank: Striving to maintain the inflation rate or work to reduce it.

 The economist stressed the importance of activating the regulatory bodies (commercial and health) to follow the movement of markets, and to control imports to be within certain conditions and according to the necessary needs, as well as the importance of activating the law for the protection of national products. 

[yota691]

The markets are witnessing a rapid rise in prices

Tuesday 04th May 2021 46

 

 Baghdad: the pillar of the emirate

The adjustment of the exchange rate and the devaluation of the (dinar) against the dollar was accompanied by a sharp and rapid rise in public prices of food, construction, and pharmaceutical consumables, despite the government and parliament's calls to monitor prices and limit their rise, but they did not witness a decrease, despite the distribution of the ration card items for the month of Ramadan, It witnessed an unprecedented rise in the prices of lands and housing units in Baghdad and the governorates, which negatively affected the economic life of citizens. 

 

The merchant Abdullah Al-Hassan told Al-Sabah Al-Iqtisadi that “the local (wholesale) markets witnessed a rise in prices. A bag of rice rose from 35 thousand to 51 thousand dinars, while the beans increased from 42 thousand to 48 thousand dinars, in addition to the prices of tea. The carton was from 35 thousand to 42 thousand dinars, while edible oil was the most affected by these changes and its prices increased significantly in the local market. "

 

pharmaceutical

The pharmacist, Asaad Muhammad, told Al-Sabah that “the prices of medicines have witnessed noticeable increases,” indicating that “the reason is that most of these medicines are imported from international sources in hard currency, the American dollar. The reason is that the raw materials used in the manufacture of these medicines are imported from abroad.

 

Real estate

Al-Sabah had a stand with offices selling lands and housing units, who reported that real estate prices, especially in Baghdad, witnessed unprecedented increases in the history of real estate sales.

Ibrahim Al-Ali, the owner of a real estate office, said: "The high-end residential neighborhoods in the Karkh side, such as Al Mansour, Al-Dawoodi, Al-Yarmouk, Al-Qudah, Al-Sayeda, Zayouna, Palestine Street, Cairo and Al-Waziriya neighborhoods in Al-Rusafa have also witnessed unprecedented rises, and the price per square meter has reached some areas of Baghdad." To 3000 dollars, and now dealing in dollars per square meter without the dinar.

 

Elevation level

In a related context between a member of the Center for Arab and International Studies of Al-Mustansiriya University, Dr. Amr Hisham, "The price hike was expected due to the devaluation of the national currency, as the level of rise is usually associated with what is known as the elasticity of demand for the commodity."

He explained, "The more important the commodity to the consumer, the lower its elasticity, such as medicine and some types of basic foods. Therefore, the prices rise with the same devaluation or sometimes higher, with the exploitation of certain seasons such as Ramadan, for example."

And Hisham added, "The second issue remains is the national production capacity for compensation for imports, which is a limited capacity in the case of the Iraqi economy, due to the weakness of the national production base and the floundering of economic policies that support the development of this base."

[yota691]

A clear increase in the local market supply prices

Tuesday 18th May 2021 72

 

 Morning: Nafeh Al Naji

The effects of the decision to devalue the national currency continue to affect the reality of local markets, as prices rose and extended to local products such as meat, vegetables and fruits, and this had negative effects on hard-working, poor or low-income families, and the distribution of a double food ration for families during the holy month of Ramadan reduced the burden imposed by Markets. The prices of red meat, chicken, table eggs, fish and many other products (most of which are national and non-imported) increased, and their prices varied clearly during the holy month of Ramadan.

Meat and fish merchant Hussein Abdel-Hadi said: to {Al-Sabah} that «the reason for the high prices is due to the stopping of most of the floating cage breeding projects matched by the increase in demand. It also rose frequently, ”he said.

 

Livestock

He added that «the lack of government support for livestock projects, including poultry production projects, was behind the high prices, especially after the adoption of the new dollar exchange value, as the price of fodder per bag rose from 40 to 70,000 Iraqi dinars, which led to the loss of many breeders, not to mention you. About the diseases that affected poultry fields in the recent period, which led to a decrease in their numbers.

 

The value of the coin

In turn, owner of a food store, Hisham Salman, stated that “the devaluation of the currency greatly affected imported materials, as for local materials, they were also affected, but relatively, as the price of one package of edible oil reached three thousand dinars after it was half this number, while The price of a bag of powdered milk increased to 2,500 after it was 1,500, and a kilogram of sugar rose to 1,500 dinars, after it was 750 dinars. The same applies to tomato paste (the majority of which is imported). The prices of all kinds of legumes, as well as rice, increased by 750 - 1000 dinars per kilogram.

It is noteworthy that the local markets witnessed a significant increase in prices of foodstuffs, table eggs, dairy products, and meats of all kinds, which caused a clear impact on those with limited or no incomes, the majority in our society, from purchasing what they needed from the needs, and had it not been for the Ministry of Trade’s distribution of two consecutive rations during the aforementioned month. Unforgettable results.

 

Overload

Nidal Ahmed (a housewife) says: “The high prices of basic vegetables greatly affect the poor and toiling families and increase the burden on the shoulders of the citizen, who has become between the price hammer and neglect or (ignoring) the government under the harsh conditions imposed by the Corona pandemic and the curfew for long days Not to mention the stopping of the ration card items, except for a little bit of it.

Nidal called on the government and its specialized agencies to take swift measures to control and control prices, to save the citizen from high prices, and to stand with the segment of the poor who offered and did everything for this country in the most difficult circumstances.

[yota691]

Iraq: a new rise in the dollar exchange rate and warnings of exacerbating poverty rates

 

Baghdad

fair deputies

June 04, 2021

 

Concern prevails among Iraqis for fear of the deterioration of the purchasing value of the dinar (AFP)

 

The Iraqi local markets witnessed a new rise in the exchange rate of the dollar against the Iraqi dinar, as the value of one dollar reached 1500 Iraqi dinars, a clear difference from the rate set by the Central Bank, which is 1450 dinars to the dollar.

And the new value of the rise was recorded in the Baghdad Stock Exchange for hard currencies and exchange companies in the Al-Kifah and Al-Harithiya areas in Baghdad, as well as Erbil, and in the event that the rise continues until the end of the day, this means that the price will remain unchanged until next Sunday, which is the date of resuming official working hours and the Central Bank offering new amounts of hard currency Within the policy of preserving the value of the dinar.

So far, the competent authorities have not provided any explanations for this rise, but experts and specialists attribute this to speculation within the market, which is made by traders, businessmen and private banks.

The rise is not the first of its kind, but it is the highest, as the past days recorded a slight increase at 1460 and 1470 dinars to the dollar.

The reason for the rise in the exchange rate of the dollar in Iraq during the last period is a rise in the prices of goods, especially foodstuffs, and the markets and commercial centers in Iraq have been almost devoid of shoppers, for several days, due to the economic confusion from the high exchange rate of the dollar and the new rise in food prices and others.

 

And the Iraqi Ministry of Planning confirmed, earlier, that poverty indicators in the country had risen to 27%, due to the increase in prices, against the background of several government measures to bypass the financial crisis, including raising the dollar exchange rate, as the Al-Kazemi government raised the exchange rate from 1200 dinars to 1450, per dollar.

A member of the Economy and Investment Committee in the Iraqi parliament, Salem al-Tufaili, said, in a telephone conversation with Al-Araby Al-Jadeed, that “the main reason for the continued rise in the dollar exchange rate is the lack of real government control over the Iraqi market, as well as the work of private banks and exchanges, which manipulate prices according to their interest without No oversight or accountability.

Al-Tufaili indicated that "the rise in the exchange rate of the dollar, as well as foodstuffs and other materials, is behind some greedy traders, bank owners and money transfer companies, among the influential figures, who have relations with some parties and political figures, who control the market as they wish according to government silence."

He added that "the Iraqi market has been witnessing great confusion for days due to the instability of the dollar exchange rate and the increase in the prices of materials again, and this requires the intervention of the competent government agencies, to control the situation. It is going through difficult economic conditions."

A member of the Finance Committee in the Iraqi parliament, Muhammad Al-Shabki, said, in an interview with Al-Araby Al-Jadeed, that "the next few days will witness hosting the competent authorities in the Ministry of Finance and the Central Bank, to discuss the repercussions of the dollar exchange rate hike, above the amount decided in the 2021 budget."

Al-Shabki indicated that "the Iraqi Parliament's Finance Committee will present many proposals for the control of the competent government agencies over the exchange rate of the dollar, as well as to prevent traders from manipulating the prices of foodstuffs and others, this matter will lead to humanitarian disasters in Iraqi society, especially with the high rate of poverty and the rate of Unemployment is high.”

 

 

The Iraqi MP warned that "the economic situation in Iraq does not allow the continued rise in the dollar exchange rate and foodstuffs, as this matter will have major and dangerous repercussions, including the explosion of popular demonstrations as well as the increase in crime rates in Iraqi society, especially the lack of job opportunities in the government and private sectors, and the continuation of The unemployment rate among young people is high.

On the other hand, the economic expert Younis Al-Kaabi said, in press statements, that "the currency auction did not decrease in its sales, nor did the poor class improve its living conditions, and most importantly, it left an important segment of society under the weight of poverty, namely the employees and retirees."

Al-Kaabi explained that "the monthly income of employees and retirees has declined as a result of the change in the exchange rate on the one hand and on the other hand the increase in the prices of goods, medicines and basic commodities in the local markets."

The Iraqi expert revealed that "the data of the Ministry of Planning indicate that the poverty rate in Iraq has risen from 25% to 28%, and this is the biggest indication of the failure of fiscal and monetary policy in Iraq."

[yota691]

Global food prices are rising at the fastest rate since September 2011.

expressive image

 June 03, 2021 09:04 PM

  
Mubasher: The Food and Agriculture Organization of the United Nations announced that global food prices rose last May at the fastest rate since September 2011.

The Food and Agriculture Organization said, in a statement issued today, Thursday, that the average food price index reached 127.1 points in May, an increase of 4.8 percent from its level in April, and 39.7 percent compared to the same period in 2020.

The organization indicated that the sharp rise in the international prices of vegetable oils, sugar and grains led to the rise of the index, which tracks monthly changes in the international prices of the most traded food commodities, to reach its highest level since September 2011, and only 7.6 percent lower than its highest level on the planet. Launched at face value.

The FAO Cereal Price Index rose 6.0 percent in May compared to April, driven by global maize prices, which rose on average by 89.9 percent from their value a year ago.

Corn prices started to decline at the end of May, due to improved production prospects in the USA.

International prices of wheat also showed a decline in late May, but rose on average by 6.8 percent last month compared to April, while international price quotations for rice remained flat.

The FAO Vegetable Oil Price Index increased by 7.8 percent in May, and the FAO Sugar Price Index increased by 6.8 percent compared to April, as a result of delays in harvesting crops and concerns about low crop yields in Brazil, which is the largest exporter of sugar in the world. .

The FAO Meat Price Index rose 2.2 percent last month compared to April, with quotations higher for all types of meat due to the acceleration in import purchases from China.

Forecast for record grain production in 2021 في

The Food and Agriculture Organization (FAO) noted that global cereal production in 2021 - currently around 2,821 million tonnes - hit a new record, up 1.9 percent compared to 2020, driven by a 3.7 percent annual increase in maize production.

Global cereal use is expected to expand in 2020-2021 by 1.7 percent.

FAO's preliminary forecast for world trade in cereals in the new season points to an increase of only 0.3 percent from the high level estimated for the period 2020-2021, when trade is expected to expand by as much as 6.3 percent to reach an all-time high of 468 million tons.

[yota691]

Parliamentary Economy: The street will explode in the face of the government if the dollar continues to rise

09:01 - 05/06/2021

 

  

 

Information/Baghdad.

The Parliamentary Committee on Economy and Investment warned of the explosion of the street in the face of the government of Prime Minister Mustafa Al-Kazemi in the event that the dollar price continues to rise, noting that the Iraqi market has been witnessing great confusion for days due to the instability of the dollar exchange rate.

Committee member Salem Al-Tufaili said in an interview seen by / the information /, that "the main reason for the continued rise in the dollar exchange rate is the lack of real government control over the Iraqi market, as well as the work of private banks and exchanges, which manipulate prices according to their interest without any oversight or accountability."

Al-Tufaili added that “the rise in the exchange rate of the dollar, as well as foodstuffs and other materials, is behind some greedy traders, bank owners and money transfer companies, among the influential figures, who have relations with some parties and political figures, who control the market as they wish according to government silence.”

He pointed out that “the Iraqi market has been witnessing great confusion for days due to the instability of the dollar exchange rate and the increase in the prices of materials again, and this matter requires the intervention of the competent government agencies, to control the situation. Otherwise, the Iraqi street will explode again in the face of the government and all the political class, Because of the difficult economic conditions it is going through.” finished/25

[yota691]

Al-Bawi: The poverty rate in Iraq has reached 70% due to the dollar

09:01 - 09/06/2021

 

  

 

Information / Baghdad.

Political analyst Hazem Al-Bawi was surprised, on Wednesday, that the parties, blocs and their deputies ignored the poverty rate in Iraq reaching 70 percent, at a time when they were looking to win the votes of the oppressed people electorally.

Al-Bawi questioned, during a statement to "The Information", about the bright and resonant slogans that politicians, parties and currents will resort to this time to win the people's affection at a time when they did not move a finger about the frightening statistic recently revealed by the International Monetary Fund, which stated that the poverty rate in Iraq has reached the 70 percent barrier. During the life of the current government due to the collapse of the dinar against the dollar and the rise in prices.

He added that "what is remarkable and surprising is the absence of any initiative by a bloc or deputies to demand the convening of an exceptional parliamentary session in the face of this deterioration, as if the statistics announced for an African country and not Iraq, who will resort to winning his favor and votes during the upcoming election campaign."

Today, Wednesday, representatives of the various political blocs criticized the continuation of the government's financial policy at the same pace without any change, stressing that the financial situation of the Al-Kazemi government has fully recovered after the rise in oil prices and the achievement of great revenues. finished / 25 n

[yota691]

Warnings of fluctuation in the dollar exchange rate

by Editor Economy 2 Hours ago

Specialists in economic affairs have warned of the negative effects of fluctuation in the exchange rate of the local currency against its foreign counterpart and its repercussions on local markets.

Experts said that the local market is exposed to tremors and a sudden rise in prices due to the launch of rumors related to the exchange rate of the dollar, which casts a shadow on the standard of living of the citizen and his purchasing power.

This comes at a time when many citizens expressed their dissatisfaction with the fact that some traders increased the prices of types of goods to levels of two or three times their real value, justifying this by the rise in the price of the dollar, at a time when the rate of change in its exchange rate did not exceed twenty-five percent.

[yota691]

Parliamentary Finance: The Central Bank has allocated three billion dollars to control the market

17:46 - 10/06/2021

 

  

information/special.

A member of the Parliamentary Finance Committee, Salim Cougar, confirmed, on Thursday, that the rise in the oil price will provide cash liquidity, and the Central Bank has allocated three billion to control the market.

Cougar said in a statement to the agency / Information / that "the rise in oil prices will provide cash liquidity, and the Central Bank has allocated three billion dollars to control the market and raise prices," noting that "financial liquidity will control the price of food and commercial products."

He added that "the central bank has sold 460 million dollars in the currency auction to control the market prices," noting that "the rise of the dollar is the result of supply and demand."

And he indicated that "the cash that will be available as a result of the rise in the price of a barrel of oil, which reached 72 dollars per barrel, will contribute to controlling the markets and increasing prices."

The markets, food and commercial products in Iraq are witnessing a significant increase in prices as a result of the high exchange rate of the dollar. finished 25 and انتهى

[yota691]

Al-Karawi: The dollar leads the prices of medicines to rise by 10 percent

20:36 - 13/06/2021

 

  

Information / Diyala

MP Mudar Al-Karawi confirmed, on Sunday, that the dollar pushed the prices of medicines to rise by 10%.

Al-Karawi said in an interview with “Information” that “the escalation of the dollar’s exchange rates and the lack of mechanisms to control its rhythm pushed the prices of medicines to rise by 10% in general, and the rates may be higher for some medicines, stressing that a large percentage of the poor suffer from the difficulty of purchasing medicines due to the increasing rises.” .

He added, "The Iraqis are facing another burden in light of a stifling economic crisis and alarming rates of poverty and unemployment, calling for the need to adopt the principle of the medicine dollar, which includes ensuring the purchase of medicines at old exchange rates in order to reduce their sale through pharmacies to people in all provinces to reduce the size of the economic burdens that began to burden families. “.

He pointed out that "the economic situation is very difficult, and there must be governmental policies to contain the price hike, whether for medicines or foodstuffs, through clear and stable tools, because leaving it untreated will lead to severe humanitarian crises."

And the dollar exchange rates are witnessing a rise above 150 thousand dinars per 100 dollars, although the official price is 145 thousand dinars.

[yota691]

Anbar is witnessing a significant decrease in purchasing power levels due to the rise in the dollar

13:30 - 14/06/2021

 

  

Information / Anbar ..

The markets of the cities of Anbar Governorate witnessed, on Monday, a significant decrease in the levels of purchasing power due to the high exchange rate of the dollar.

The merchant, Muhammad al-Dulaimi, one of the merchants of the city of Fallujah, said in a statement to / the information / that "the purchasing power in the markets of the cities of Anbar decreased significantly for the first time since its liberation against the background of the rise in the exchange rate of the dollar, which negatively affected the citizens' reluctance to buy various commodities as it rose in a crazy way. Without any treatment by the central government that harmed the citizen and made him a victim of speculation in the financial currency of Marib, it became known to everyone.”

Al-Dulaimi added that “the rise in the price of the dollar harmed a lot of citizens’ interests, because the process of rising the price of the dollar by the central government was not successful and studied.”

In a related context, the mayor of Habbaniyah district, east of Ramadi, Ali Dawad al-Dulaimi, confirmed in a statement to / the information / that “the rise in the exchange rate of the dollar caused an increase in the prices of most commodities and forced many citizens to stop building their homes, not to mention that Anbar markets witnessed a sudden rise in food prices. construction and various commodities.”

It is noteworthy that the people of Anbar sent a cry for help to the central government, asking it to restore the exchange rate of the dollar to what it was previously, because the citizen became the only party affected by the rise in the exchange rate of the dollar. finished/ 12a

[horsesoldier]

18 years of Verbal diarrhea and a bazillion Captain Obvious statements and the beat goes on.

[GreedyDinar07]

Looks like we have a pressure cooker here boys!! I hope this is part of them removing the 000’s or large denominations from circulation  by making the Iraqi citizens pay more. If not, then something will have to give. How much longer can they continue  with this exchange rate without the people protesting????

[shixjr]

The same thing is happening here and we aren't protesting.  A lot of people think inflation is when prices rise.  It is actually when the purchasing power of your currency goes down.  My brother in law is a contractor and he has had several people cancel building their houses because of lumber prices.  Used car prices have gone up over 17% in the last year.  Look at gas prices.  Inflation is something we want to grumble about but very few people do anything about it. 

[horsesoldier]

2 hours ago, shixjr said:

The same thing is happening here and we aren't protesting.  A lot of people think inflation is when prices rise.  It is actually when the purchasing power of your currency goes down.  My brother in law is a contractor and he has had several people cancel building their houses because of lumber prices.  Used car prices have gone up over 17% in the last year.  Look at gas prices.  Inflation is something we want to grumble about but very few people do anything about it. 

The table is tilted and the game is rigged. Governments/UN/Big Money manipulate it all to their own nefarious ends as they stampede a frightened global population with never ending social & economic gunshots to keep everyone in line.

 

All the Best 

[3n1]

6 hours ago, shixjr said:

The same thing is happening here and we aren't protesting.  A lot of people think inflation is when prices rise.  It is actually when the purchasing power of your currency goes down.  My brother in law is a contractor and he has had several people cancel building their houses because of lumber prices.  Used car prices have gone up over 17% in the last year.  Look at gas prices.  Inflation is something we want to grumble about but very few people do anything about it. 

 

excellent point shixjr, there has been imo terrible decisions made in america this year by those that set the policies that the masses have to follow and obey the difference between america and iraq is in america you have opportunity to earn

( which is not always easy but possible ) to withstand the hard times developing or corrupt countries such as iraq have diminished opportunities for citizens and life becomes much more difficult . cheers & all the best dv'ers   

[GreedyDinar07]

Yea but our exchange rate is not 1450 (1500).....apples and oranges!! 

[siberian_shaddow]

In order for the Iraq banks to get all of the under the mattress dinars there sitting on is by making it even more worthless and squeezing it out of the people no matter what it takes.

[shixjr]

2 hours ago, siberian_shaddow said:

In order for the Iraq banks to get all of the under the mattress dinars there sitting on is by making it even more worthless and squeezing it out of the people no matter what it takes.

I am hoping this is why the dinar/dollar is going in the wrong direction for us.  Once they collect all (most) of the money, they can change the value of it.  Kind of like when the US confiscated all the gold and then raised the price.

[shixjr]

16 hours ago, GreedyDinar07 said:

Yea but our exchange rate is not 1450 (1500).....apples and oranges!!

I don't think the people in Iraq care or even know what the exchange rate is between the dollar and the dinar.  If I didn't look it up, I wouldn't know what the exchange rate is between the dollar and the Mexican peso.  All I know (and all they know) is that my dollar doesn't go as far any more and it keeps on getting worse.  They are just like we are: they just want the dinar to be worth more.

[3n1]

 

I just want the iqd internationally recognized and bankable , 1 dinar inside iraq will always be 1 dinar , iraqi citizen will not become wealthy if the iqd value increases probably be able to purchase more till the cost of living increases to wipe out the new purchasing power.... i don't plan on becoming a expat to iraq   all the best dv'ers

[Half Crazy Runner]

1 hour ago, 3n1 said:

I just want the iqd internationally recognized

Bingo! This is exactly what we need!