The Ministry of Finance issues an important notice regarding the dollar exchange rate

[yota691]

The Ministry of Finance issues an important notice regarding the dollar exchange rate

Economie

2021-10-05 | 02:58

 

 

Source:

Alsumaria news

 

18,823 views

 

Today, Tuesday, the Ministry of Finance confirmed that the change in the exchange rate contributed to increasing the foreign reserves of the Central Bank of Iraq to 60 billion dollars in April 2021, after it was 54 billion dollars in December 2020.

The ministry said in a statement received by Alsumaria News, that it "continually followed up the indications of devaluation of the currency against the dollar and over the past nine months, and the indications showed that the change in the exchange rate contributed to an increase in foreign reserves with Central Bank of Iraq To 60 billion dollars in April 2021, after it was 54 billion dollars in December 2020, this came after implementing reform measures.

 

 

 

She added, "The change in the exchange rate also helped reduce the demand for foreign currency, which was positively reflected in the decrease in imports and the increase in domestic production."

 

And the ministry continued, "The indicators showed a clear improvement in commercial activity in the past nine months of the current year 2021, in light of the crisis of the spread of the virus." COVID-19 It also helped stop the pervasiveness of the Iraqi market and flood it with cheap goods that curb attempts to improve local production.

 

She pointed out that "the ministry is working to reinvest the generated revenues with the aim of building a targeted production base outside the oil sector, and relying on other sectors, which will contribute to a decrease in demand for the dollar as a result of compensating some of the goods produced, which made the proportion of imports to local consumption decline."

 

She pointed out that, "since the formation of the current government, the ministry has adopted plans and mechanisms to work on reforming Iraq's fiscal policy, and culminated in the adoption of the reform paper, the white paper that outlined future economic and financial policy steps to advance local production and reduce imports for the country. This procedure also contributed to improving the situation of the public budget and reducing imports." Orientation towards encouraging local product and providing job opportunities.

[yota691]

 

Finance reassures Iraqis: raising the price of the dollar stopped the fall of the currency and strengthened capabilities

 

 2021-10-05 03:50

 

Shafaq News/ The Iraqi Ministry of Finance issued, on Tuesday, a new clarification regarding the exchange rate of the US dollar, noting that changing it worked to "stop the fall of the reserve currency and enhance import capabilities."

 

The ministry said in a statement, which was received by Shafak News Agency, that it has continuously followed the indicators of devaluation of the currency against the dollar and over the past nine months, and the indicators show that the change in the exchange rate contributed to increasing the foreign reserves of the Central Bank of Iraq to 60 billion dollars in April 2021, After it was $54 billion in December 2020, this came after implementing reform measures.

 

She explained that the change in the exchange rate also helped to reduce the demand for foreign currency, which was positively reflected in the decrease in imports and the increase in domestic production.

 

The indicators showed, according to the financial statement, a clear improvement in commercial activity in the past nine months of the current year 2021 in light of the crisis of the spread of the COVID-19 virus, and it also helped to stop the penetration of the Iraqi market and flood it with cheap goods that curb attempts to upgrade local production.

 

The ministry explained that it is working to reinvest the generated revenues with the aim of building a targeted production base outside the oil sector and relying on other sectors, which will contribute to a decrease in demand for the dollar as a result of compensating some of the goods produced, which made the proportion of imports to local consumption decline.

 

The ministry indicated that, since the formation of the current government, it has adopted plans and mechanisms to work on reforming Iraq's financial policy, and culminated in the adoption of the reform paper "White Paper", which outlined future economic and financial policy steps to advance local production and reduce imports to the country. Imports and the trend towards encouraging the local product and providing job opportunities, according to the ministry.

 

It is noteworthy that the Central Bank of Iraq, on December 19, 2020, officially announced the amendment of the foreign currency exchange rate (the US dollar) to be 145,000 dinars for every $100, according to the state’s general budget for the year 2021 approved by the House of Representatives.

[yota691]

 

Finance indicates the highest reserves of hard currency recorded by Iraq in its history

 

 2021-10-05 04:41

 

Shafaq News/ The Ministry of Finance announced today, Tuesday, that the highest foreign currency reserves in Iraq amounted to $82 billion in 2014.

The ministry said in its official statistics, which was seen by Shafak News Agency, that "the reserves of the Central Bank of Iraq witnessed their highest rise in July 2014, reaching 82 billion dollars," noting that "these reserves later decreased to reach 44 billion dollars in 2017."

She added, "The reserves fluctuated between 2020 and 2021 after the drop in oil prices and the rise in the dollar exchange rate in Iraq, as these reserves ranged between 45 billion and 61 billion dollars, noting that these reserves recorded 60 billion dollars in April of the year 2021."

[yota691]

Finance: Raising the exchange rate saved the reserve currency from falling

 10/05/2021

 

 1418

 

Baghdad / Al-Mawrid News

The Ministry of Finance talked, on Tuesday, about the benefits of raising the price of the dollar, pointing out that it stopped the fall of the reserve currency and strengthened import capabilities .

A statement by the ministry stated, "The ministry has continuously followed up the indications of devaluation against the dollar and over the past nine months, and the indications show that the change in the exchange rate contributed to increasing the foreign reserves of the Central Bank of Iraq to "60" billion dollars in April 2021, after it had been.  " 54 billion dollars in December 2020, this came after the implementation of reform measures .

He added: "The change in the exchange rate also helped reduce the demand for foreign currency, which was positively reflected in the decrease in imports and the increase in domestic production ."

The statement continued: "The indicators showed a clear improvement in commercial activity in the past nine months of the current year 2021 in light of the crisis, the spread of the "COVID-19"   virus, and it also helped stop the penetration of the Iraqi market and flood it with cheap goods that curb attempts to upgrade local production .

He stressed, "The ministry is working to reinvest the revenues of the generated funds with the aim of building a targeted production base outside the oil sector and relying on other sectors, which will contribute to a decrease in demand for the dollar as a result of compensating some of the goods produced, which made the proportion of imports to local consumption decline ."

He pointed out, "Since the formation of the current government, the ministry has adopted plans and mechanisms to work on reforming Iraq's financial policy, which culminated in the adoption of the reform paper, the "White Paper", which outlined future economic and financial policy steps to advance local production and reduce imports for the country," stressing: "This measure also contributed to Improving the state of the general budget, reducing imports, and moving towards encouraging local products and providing job opportunities .

 

 

[yota691]

The Ministry of Finance issues a statement on the dollar exchange rate

•  Time: 10/05/2021 10:02:07
•  
•  Reading: 3,237 times

  

{Local: Al Furat News} The Ministry of Finance issued a statement, on Tuesday, about the devaluation of the currency against the dollar and over the past nine months.

And the ministry said in a statement that {Euphrates News} received a copy of it, that “the ministry has constantly followed the indicators of devaluation of the currency against the dollar and over the past nine months,” noting that “indicators of changing the exchange rate contributed to increasing the foreign reserves of the Central Bank of Iraq to 60 billion dollars. In April 2021, after it was $54 billion in December 2020, this came after implementing reform measures.  

She added, "The change in the exchange rate also helped reduce the demand for foreign currency, which was positively reflected in the decrease in imports and the increase in domestic production."  

And she added, "The indications are that there is a clear improvement in commercial activity in the past nine months of the current year 2021, in light of the crisis of the spread of the COVID-19 virus, and it also helped stop the penetration of the Iraqi market and flood it with cheap goods that curb attempts to upgrade local production."  

She pointed out that "the ministry is working to reinvest the generated revenues with the aim of building a targeted production base outside the oil sector, and relying on other sectors, which will contribute to a decrease in demand for the dollar as a result of compensating some of the goods produced, which made the proportion of imports to local consumption decline."  

She explained, "Since the formation of the current government, the ministry has adopted plans and mechanisms to work on reforming Iraq's financial policy, and culminated in the adoption of the reform paper, the white paper that outlined future economic and financial policy steps to advance local production and reduce imports for the country, and this procedure also contributed to improving the state of the public budget and reducing imports." Orientation towards encouraging local product and providing job opportunities.

[yota691]

Deputy: Finance increased the reserve by 4 billion and ignored the high rates of poverty, unemployment and inflation

political| 01:06 - 05/10/2021

 

 

 

 

Baghdad - Mawazine News,
a member of the House of Representatives, Muhammad Shiaa Al-Sudani, responded, on Tuesday, to a statement by the Ministry of Finance regarding an increase in the cash reserve by 4 billion dollars.
Al-Sudani said in a tweet to him on the Twitter platform, which was seen by / Mawazine News / that "Finance talks about increasing the cash reserve by 4 billion dollars, ignoring the significant rise in poverty, unemployment and inflation rates in the country, as a result of the decision to raise the dollar exchange rate."
Al-Sudani added, "The ministry did not implement its promises, according to the government program, to increase support for industry, agriculture, and the social protection network." Ended 29/A 4

[NWGUY]

Seems like Iraq has continued to think about themselves.   Putting money in their piggie bank instead of taking on poverty, unemployment, and inflation.  I don't think their inflations is that bad, but working on the other things should be a priority, at least you would think?  

[GreedyDinar07]

Same Ole BS!! Nothing will change! 

[Laid Back]

Foreign currency reserves are growing…. That’s good news.!

 

Higher  reserves = Stronger currency

 

Wok on progress….. We wait.!

 

Go white paper

Go reforms

Go development 

Go open market economy 

[jeepguy]

For them not to be needing  foreign currency,  they have a load of it ! 

( face it foreign money  buys more )

[yota691]

The Ministry of Finance: The rise in the price of the dollar contributed to increasing Iraq's reserves by 6 billion dollars within 5 months

05-10-2021

 

 

ECONOMIE

US dollars

Rudaw Digital

The Iraqi Ministry of Finance confirmed that raising the price of the dollar contributed to increasing Iraq's reserves by 6 billion dollars within 5 months.

According to a statement issued by the ministry, Rudaw Media Network received a copy of it today, Tuesday (October 5, 2021), that "the ministry has consistently followed up the indicators of devaluation against the dollar and over the past nine months."

Through the ministry’s follow-up, it was found that the exchange rate change “contributed to increasing the foreign reserves of the Central Bank of Iraq to “60” billion dollars in April 2021, after it was “54” billion dollars in December 2020, according to the statement.

The change in the exchange rate helped "a decrease in the demand for foreign currency, which was positively reflected in a decrease in imports and an increase in domestic production," according to the Ministry of Finance.

The Ministry of Finance indicated "a clear improvement in commercial activity in the past nine months of the current year 2021, in light of the crisis and the spread of the Corona virus."

Changing the exchange rate also helped "stop the penetration of the Iraqi market and dumping it with cheap goods that curb attempts to improve local production," according to the statement.

 The ministry revealed that it is working to "reinvest the revenue generated with the aim of building a targeted production base outside the oil sector and relying on other sectors, which will contribute to a decrease in demand for the dollar as a result of compensating some of the goods produced, which made the proportion of imports to local consumption decline."

It is noteworthy that the ministry has adopted, since the formation of the current government, the development of plans and mechanisms to work on reforming the financial policy of Iraq, and culminated in the adoption of the reform paper "the White Paper", which outlined the steps of the future economic and financial policy to advance local production and reduce imports to the country. This measure also contributed to improving the situation of the public budget and reducing imports. And the trend towards encouraging the local product and providing job opportunities., according to the statement.

[yota691]

Ministry of Finance: The exchange rate worked to stop the fall of the reserve currency and enhance import capabilities

Tuesday October 5, 2021

 

 

 

The ministry has continuously followed the indicators of devaluing the currency against the dollar and over the past nine months, and the indicators show that the change in the exchange rate contributed to increasing the foreign reserves with the Central Bank of Iraq to “60” billion dollars in April 2021, after it was “54” billion dollars in In December 2020, this came after the implementation of the reform measures. 

http://www.mof.gov.iq/SiteAssets/Lists/Banner/NewForm/f.jpeg

 

The change in the exchange rate also helped reduce the demand for foreign currency, which was positively reflected in the decrease in imports and the increase in domestic production.

 

 Indicators showed a clear improvement in commercial activity in the past nine months of the current year 2021 in light of the crisis, the spread of the “COVID-19” virus, and it also helped stop the penetration of the Iraqi market and flood it with cheap goods that curb attempts to upgrade local production. 

 

The ministry is working to reinvest the generated revenues with the aim of building a targeted production base outside the oil sector and relying on other sectors, which will contribute to a decrease in the demand for the dollar as a result of compensating some of the goods produced, which made the proportion of imports to local consumption decline.

 

http://www.mof.gov.iq/SiteAssets/Lists/Banner/NewForm/g.jpeg
 

 

Since the formation of the current government, the ministry has adopted plans and mechanisms to work on reforming Iraq's financial policy, and culminated in the adoption of the reform paper "the White Paper" that outlined future economic and financial policy steps to advance local production and reduce imports to the country. Local product and job creation.

 

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Information Office of the Ministry of Finance 

 

10/5/2021