A statement by the Central Bank regarding the dollar exchange rate: daily sales were not affected

[yota691]

A statement by the Central Bank regarding the dollar exchange rate: daily sales were not affected

05:59

 

Fourth - Baghdad

Today, Monday, the Deputy Governor of the Central Bank, Ammar Hamad Khalaf, confirmed that the change in the exchange rate does not affect the daily sales of the dollar, while noting that the daily currency auction reaches 200 million dollars.

 

Khalaf said in a statement to the official agency, which was followed by (the fourth), that "the daily currency selling outlets and the exchange rate change did not affect the daily sales, and the main reason is that the Iraqi economy, by its nature, is a rentier economy, unilateral, and dependent on imports."

He added, "All imported goods and services that enter Iraq need foreign currency, for the purpose of importing goods, so the volume of sales of the Central Bank on this basis depends on the volume of imports entering Iraq."

He pointed out, "Iraq's economy is open due to weak local production, and this is the main reason that kept the currency window conservative, to some extent, on sales, to meet the real import that enters Iraq," noting that "the daily currency auction amounts to approximately $200 million." .

 

[yota691]

 

Dollar sales rise in the Central Bank auction

 

 2022-01-17 05:10

 

Shafak News/ Dollar sales rose in the Central Bank auction today, Monday, to more than 212 million dollars.

Shafak News Agency reporter stated; That the Central Bank witnessed today, during its auction for buying and selling US dollars, an increase in its sales of dollars to reach 212 million and 729 thousand and 735 US dollars, which was covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, which sales amounted to 200 million and 73 One thousand and 235 US dollars.

Our correspondent added; Most of the bank's sales that went to enhance balances abroad in the form of remittances and credits amounted to 164 million and 249 thousand and 753 dollars, while the remaining amount of 48 million and 480 thousand dollars went in cash.

Our correspondent indicated that 27 banks have met requests to enhance balances abroad, and 19 banks have responded to cash requests, in addition to 189 mediation companies.

[ronscarpa]

 Thanks..!

[NoviceInvestor]

Thank you Ron, the year 2022 is now firmly established and the Auctions continues as the momentum of an expected RV fades. 

[horsesoldier]

1 hour ago, NoviceInvestor said:

Thank you Ron, the year 2022 is now firmly established and the Auctions continues as the momentum of an expected RV fades. 

The reality continues to grow daily, huh.  

[screwball]

3 hours ago, NoviceInvestor said:

Thank you Ron, the year 2022 is now firmly established and the Auctions continues as the momentum of an expected RV fades. 

not really they will continue auctions until the move to being international traded

[NWGUY]

I would think, and I am not a banking guru, but if the dinar was worth at least $1.00, they wouldn't need to use the dollar.  They could use their own money, and shouldn't need to use the auction....

[screwball]

7 minutes ago, NWGUY said:

I would think, and I am not a banking guru, but if the dinar was worth at least $1.00, they wouldn't need to use the dollar.  They could use their own money, and shouldn't need to use the auction....

they have to use their own money!!!!!!!!!!! how many countries use the USD in country??? normally countries with a tanked currency and under sanctions

[NWGUY]

Just now, screwball said:

they have to use their own money!!!!!!!!!!! how many countries use the USD in country??? normally countries with a tanked currency and under sanctions

Unfortunately Iraq doesn't feel any pressure using the USD, and I only think their motivation to switch back to the Dinar is their pride.  They can definitely afford to revalue for considerably more the $1.00, but that will be good enough for me!  

[WheresmyRV?]

Once they are released from sanctions next month we are golden imo.

[dinarham]

   USD is widely accepted in Europe , Canada , and Mexico ,but they all have currency that's worth something .  A sovereign nation can  issue one currency ,their own .  In my travels , converting to the native currency was largely done with ATM's  ,not through some corrupt lame currency auction . They don't even edit their public announcements

[screwball]

6 hours ago, dinarham said:

   USD is widely accepted in Europe , Canada , and Mexico ,but they all have currency that's worth something .  A sovereign nation can  issue one currency ,their own .  In my travels , converting to the native currency was largely done with ATM's  ,not through some corrupt lame currency auction . They don't even edit their public announcements

being accepted is different to have an account in USD, being paid in USD and transactions been done in USD in country