yota691 Posted June 23, 2021 Author Report Share Posted June 23, 2021 The Central Bank launches an initiative worth 5 trillion dinars Wednesday 23 June 2021 123 Baghdad: morning The Central Bank of Iraq launched an initiative worth 5 trillion dinars, in addition to contributing to moving the housing sector to complete the residential complexes that were suspended, as well as the imminent issuance of bonds that enable citizens to invest their money. The Parliamentary Finance Committee stated, in a statement, that it "hosted, headed by the Chairman of the Committee, Representative Haitham Al-Jubouri, and in the presence of its members and a number of members of other parliamentary committees, the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, and the Deputy Governor Ammar Hamad Khalaf." The statement added, "The periodic meeting that took place at the committee's headquarters discussed the steps that the Central Bank promised to implement to reduce the repercussions of changing the exchange rate and its implications, and the issue of selling the currency and confronting the process of its depletion and ways to preserve and invest it properly." He pointed out that "the committee discussed the projects, plans and loans that the bank promised to implement after changing the currency exchange rate," stressing "the need to adhere to those promises and the speed of their implementation, in particular those that contribute to the employment of unemployed youth and support the housing, industry and agriculture sectors, support the local product and ease restrictions and routine procedures on them." ". He continued, "The committee discussed the issue of electronic connectivity between the ministries of commerce and finance and the customs and tax authorities with the Central Bank, as well as the automation of procedures at border crossings," stressing "the need for the government to fulfill its duty towards this as indicated by the Finance Committee and the House of Representatives through the Budget Law for 2021." The committee called on the Central Bank to "take the strongest and strict measures against banks that violate regulations," renewing "its support for the bank in this regard, as the current period requires concerted efforts among all authorities." The committee was directed to host the Minister of Finance to discuss what was proposed in the hosting and to discuss a number of issues that concern the economic reality of the country. For his part, the Governor of the Central Bank provided a clarification on what the bank has taken and the steps it seeks to take to reduce the negative effects of changing the exchange rate. 3 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted June 25, 2021 Author Report Share Posted June 25, 2021 Parliamentary Finance: The current low exchange rate does not mean the return of the dollar to the old rate 2021-06-25 08:06 Shafaq News/ The Parliamentary Finance Committee considered, on Friday, that the decline in the dollar exchange rate against the dinar does not mean its return to the previous rate. Committee member Jamal Kougar told Shafak News Agency; Last week, the Parliamentary Finance Committee hosted the Governor of the Central Bank, Mustafa Ghaleb, and discussed the steps that the bank promised to implement to reduce the repercussions of changing the currency exchange rate and its implications. He added, "The decline in the exchange rate of the dollar against the dinar and the rise in oil prices does not mean the return of the exchange rate of 100 dollars to 118 thousand dinars." Cougar continued; For "all the meetings and discussions that took place recently will not work without a decision issued by the government, the Ministry of Finance and the Central Bank to restore the exchange rate of the dollar to the previous one." 8 1 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 26, 2021 Report Share Posted June 26, 2021 Al-Shabki explained that "with the rise in oil prices, the Iraqi government must restore the dollar's exchange rate to its previous position Maybe years or even days! Quote Link to comment Share on other sites More sharing options...
DWS112 Posted June 26, 2021 Report Share Posted June 26, 2021 (edited) On 6/22/2021 at 11:43 PM, yota691 said: He called for "going to the exchange outlets to receive the financial dues for the sixth installment." Could this be a hint from the CBI Governor? Lower denoms? Edited June 26, 2021 by DWS112 3 5 Quote Link to comment Share on other sites More sharing options...
Inbedded HorseHead Posted June 26, 2021 Report Share Posted June 26, 2021 I think I might get out of this if they just go back to the old 1260 rate, 17 years of this tripe.... 1 1 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted June 26, 2021 Report Share Posted June 26, 2021 23 hours ago, yota691 said: the Ministry of Finance and the Central Bank to restore the exchange rate of the dollar to the previous one." Which rate is the Previous one? 1190 iqd ( delete 3 zeros= 1.19 iqd that means 1 iqd=0.84 usd ) 0r old glory rate of 3.24 usd? 2 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted June 26, 2021 Report Share Posted June 26, 2021 CBI is selling around $200 millions in the daily currency, to cover imports, to fight inflation and to maintain the actual exchange rate of 1460. We are taking 1 billion dollars a week from the foreign currency reserves. This put an enormous pressure on the CBI, they know they have to do something about the exchange soon. They don’t want to deplete the foreign currency reserves. Go new monetary policy Go RV Go $1:1 2 5 5 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted June 26, 2021 Report Share Posted June 26, 2021 1 minute ago, Laid Back said: CBI is selling around $200 millions in the daily currency auctions, to cover imports, to fight inflation and to maintain the actual exchange rate of 1460. We are taking 1 billion dollars a week from the foreign currency reserves. This put an enormous pressure on the CBI, they know they have to do something about the exchange rate soon. They don’t want to deplete the foreign currency reserves. Go new monetary policy Go RV Go $1:1 3 Quote Link to comment Share on other sites More sharing options...
WheresmyRV? Posted June 26, 2021 Report Share Posted June 26, 2021 2 minutes ago, Laid Back said: LB I love it when you chime in! 1 1 5 Quote Link to comment Share on other sites More sharing options...
Popular Post Laid Back Posted June 26, 2021 Popular Post Report Share Posted June 26, 2021 1 minute ago, WheresmyRV? said: LB I love it when you chime in! Thanks WhereismyRV 👍🏼😀 With all the latest articles talking about the exchange rate and delete of zeros, I believe they finally are planning to do something about it. Go new monetary policy Go delete of the Zeros Go RV Go $1:1 5 3 6 6 Quote Link to comment Share on other sites More sharing options...
Officiallytook Posted June 26, 2021 Report Share Posted June 26, 2021 They want all the paper hands to exchange what they have now 😆 7 Quote Link to comment Share on other sites More sharing options...
BETTYBOOP Posted June 26, 2021 Report Share Posted June 26, 2021 They ain't getting any of mine till they give me a decent rate. 1 1 3 6 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 26, 2021 Report Share Posted June 26, 2021 5 hours ago, Laid Back said: Thanks WhereismyRV 👍🏼😀 With all the latest articles talking about the exchange rate and delete of zeros, I believe they finally are planning to do something about it. Go new monetary policy Go delete of the Zeros Go RV Go $1:1 I believe you are correct 1 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 26, 2021 Report Share Posted June 26, 2021 5 hours ago, Officiallytook said: They want all the paper hands to exchange what they have now 😆 Yes I believe so 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 27, 2021 Report Share Posted June 27, 2021 9 hours ago, BETTYBOOP said: They ain't getting any of mine till they give me a decent rate. Yeah we are guided by their rules if we don’t need to cash in all we should not 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 27, 2021 Report Share Posted June 27, 2021 If I can keep back 50,000’s notes I will Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted June 27, 2021 Report Share Posted June 27, 2021 11 hours ago, BETTYBOOP said: They ain't getting any of mine till they give me a decent rate. Me too. But who can push the cbi to rv at at higher rate? Quote Link to comment Share on other sites More sharing options...
BETTYBOOP Posted June 27, 2021 Report Share Posted June 27, 2021 2 hours ago, rvmydinar said: Me too. But who can push the cbi to rv at at higher rate? Nobody really I don't think. Look how many times we have see or heard of articles where the 3 letter agencies have supposedly told them to raise the rate and they haven't. If it came in around 50 pence or 1 pound I would cash enough to keep me going a wee while till it rises. 1 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted June 27, 2021 Report Share Posted June 27, 2021 1 hour ago, BETTYBOOP said: If it came in around 50 pence or 1 pound I would cash enough to keep me going a wee while till it rises. Me too, but Most iraqi politicians are corrupt because they think corruption is the easiest way to make them very wealthy without revaluing the dinar. And it seems they don't even care about the poor lives of ordinary iraqi citizens because the price of goods are pricey ( because of devaluation from 1190 to 1460 ). 1 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 27, 2021 Report Share Posted June 27, 2021 6 minutes ago, rvmydinar said: Me too, but Most iraqi politicians are corrupt because they think corruption is the easiest way to make them very wealthy without revaluing the dinar. And it seems they don't even care about the poor lives of ordinary iraqi citizens because the price of goods are pricey ( because of devaluation from 1190 to 1460 ). Most politicians are corrupt...Iraq are not different Kuwait same Democrats the same ALL. 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted June 27, 2021 Report Share Posted June 27, 2021 1 hour ago, BETTYBOOP said: Nobody really I don't think. Look how many times we have see or heard of articles where the 3 letter agencies have supposedly told them to raise the rate and they haven't. If it came in around 50 pence or 1 pound I would cash enough to keep me going a wee while till it rises. Yes good idea cash in what you need and what you have too if no need then sit and hold all depends on their requirements 1 Quote Link to comment Share on other sites More sharing options...
BETTYBOOP Posted June 27, 2021 Report Share Posted June 27, 2021 1 hour ago, screwball said: Yes good idea cash in what you need and what you have too if no need then sit and hold all depends on their requirements Yes I think that is the more sensible plan. The CBI did say several years ago that the 3 zero notes would continue to exist with the lower denominations for 10 years. However, I don't think they will give us 10 years 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted June 28, 2021 Author Report Share Posted June 28, 2021 Parliamentary Finance warns the Iraqi government of “imminent financial collapse” 2021-06-28 06:47 Shafaq News/ On Monday, the Parliamentary Finance Committee warned the Iraqi government of a "financial collapse" as a result of not controlling the dollar's exchange rate against the Iraqi dinar. Committee member Abdul Hadi Al-Saadawi told Shafaq News Agency, "Iraq mainly depends on oil imports," explaining that "any drop in oil prices will cause a financial collapse as a result of the government's lack of control over the dollar exchange rate." Al-Saadawi added, "The financial situation in Iraq has begun to collapse dramatically, without any treatment or solutions for the government," warning against "not going to customs revenues, border crossings, taxes and fees imposed on imported goods and commodities." Al-Saadawi pointed out, "Iraq's need for appropriate solutions and plans to address the financial crisis to save the local currency (the Iraqi dinar) from financial collapse and control the market." The Parliamentary Finance Committee had previously issued a warning to the Central Bank of Iraq against the dinar's collapse against the US dollar, and demanded the government to impose measures on private banks and control the market. Mazhar Muhammad Salih, the economic advisor to the Prime Minister, rules out changing the dollar's exchange rate against the Iraqi dinar in the coming period, emphasizing the central bank's ability to control the exchange rate. After the government’s decision to reduce the value of the Iraqi dinar against the US dollar in late 2020, the exchange rate of every $100 reached 145,000 dinars. This price was fixed in the federal budget for the year 2021, and since then until now the dollar exchange rate has not been stable, as it continued for about three months below the official exchange rate, rising in recent months and reaching 151 thousand dinars per 100 dollars. 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted June 28, 2021 Author Report Share Posted June 28, 2021 Between the government and the Central Bank.. Members of the Finance Committee reveal the secrets of the rise in the price of the dollar Economie 2021-06-28 | 04:11 Source: Alsumaria news 6,579 views Report: Alsumaria News The exchange rate of the dollar against the dinar is still casting a shadow on the societal and political sides. , noting that there is a will and a majority in the House of Representatives, which does not want to return the exchange rate of the dollar against the dinar to what it was. Member of Parliamentary Finance Committee Jamal puma He stressed that there are many reasons that prevent the Central Bank from returning to the old dollar price at this stage, while noting the possibility of achieving this and creating new job opportunities in the event of a new government coming for a period of four years. And he said puma In an interview with Alsumaria News, "there are many reasons that prevent the central bank from returning to the old dollar price at this stage," noting that "among the reasons is the bank's need to have a stable policy, given that the price hike was four months ago. It is not permissible for there to be another change in a short period not exceeding five months, given that the occurrence of this matter will confuse the market and worry investors, traders and foreign currency dealers as a result of low confidence that a new change will not occur again from the Central Bank in the future. . added puma, that "the other matter is related to the federal budget voted by Parliament, in which all its schedules, accounts and contracts are based on the new exchange rate, so the contracts that will be awarded by the government will be in dinars, but at the same time, we are not a producing country, but rather an importer and a consumer, which means that the effect will be worrying." For the parties that deal with the government by importing and contracting, because they do not have a true picture of the mechanism of dealing according to what price will be for the profit and loss account. He pointed out, "This is an adventure, and we do not believe that the government will be forced to do so because of the confusion it causes at this time, especially since it is an interim government and has a primary duty to prepare for early elections. These include changing the exchange rate and creating new job opportunities. Member of the Parliamentary Finance Committee, Abdul Hadi Mohan El Saadawi He pointed out that the government and the Central Bank have no vision in dealing with economic inflation, while noting that there is a will and majority within the House of Representatives, which does not want to return the exchange rate of the dollar against the dinar to what it was. Al-Saadawi said in an interview with Alsumaria News, "There is a will and majority within the House of Representatives, that does not want to return the exchange rate to what it was, and strives to maintain what has been approved by the Central Bank and the Ministry of Finance, because of the benefits of those controlling the government and Central Bank of Iraq". He added Saadawi, that" there are no a vision of many political blocs or the beneficiaries of the exchange rate changes, it moves to raise the exchange rate and the past is also not Automator ports, customs and duties , "stressing that" the absent vision of the government and the central bank to tackle inflation economic happening in the economy and the Iraqi market. " He pointed out that" the program and the paper that has been prepared by the government, which was named the paper white, did not go beyond being ink on paper , the government did not move or central bank any promises they made financial and economic reform, and what has been applied are formalities It is far from the essence of the solution to the economic problems,” noting that “the government did not release the three trillion dinars allocated to address poverty in the country.” Iraq Social welfare benefits have not been passed by parliament, so the vision is absent and reform is non-existent. 3 1 Quote Link to comment Share on other sites More sharing options...
Bama Girl Posted June 28, 2021 Report Share Posted June 28, 2021 On 6/26/2021 at 11:12 AM, Officiallytook said: They want all the paper hands to exchange what they have now 😆 I’ll be glad to exchange mine for the right price. 😁 3 Quote Link to comment Share on other sites More sharing options...
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