Dollar exchange crisis worsens and commodity prices rise

[6ly410]

Dollar exchange crisis worsens and commodity prices rise

Posted 26 seconds ago

 

The dollar exchange crisis is worsening and the prices of basic commodities are rising (iraqakhbar-com.translate.goog)

 

News Source /In the morning

News Source /

 

Baghdad: Shaima Rashid

 

The prices of basic materials in the local markets have risen in an insane manner, causing panic among low-income people and even the segment of employees, while deputies are proposing a number of solutions regarding the crisis of the exchange rate of the dinar against the dollar in the local markets, including the distribution of part of the salaries of state employees in dollars, without addressing any remedies. The central bank to control price runaway.

Representative Moein Al-Kazemi said: “The government does not have the authority to pay the salaries of state employees in dollars,” noting that “the general trend now is to facilitate the transfer of amounts to import merchants within authentic and official invoices, and the imported materials are verified.”

Al-Kazemi added, in an interview with Al-Sabah, that “the mechanism may allow more dollars to be pumped into imports, and then exchange exchanges will not compete for it, which will lead to a decrease in its price against the Iraqi dinar,” considering that “these initiatives that the Central Bank was pursuing may end the crisis.” .

He called on the government to “facilitate remittances, in addition to selling dollars in exchange for travel visas and plane tickets.”

While the leader in the coordination framework, Jamal Hassan, pointed out that “the option of granting part of the employees’ salaries in dollars is still possible to curb the high price.”

Hassan added, in a press statement, that “the rise in the dollar exchange rate is within the policy of pressure through the economic paper, which is something that the political forces and experts in the money file are aware of,” noting that “the situation is worrying and may become more difficult with the days.”

[Fairways&Greens]

This fluctuation and uncertainty is good. It creates an atmosphere for change. The people are gonna put pressure on government to do something. 
 

When Iraq goes to Washington to discuss the exchange rate, let’s hope they don’t fix it artificially. Hoping the solution is free market. De-peg from the dollar and move forward internationally!

[screwball]

9 hours ago, Fairways&Greens said:

This fluctuation and uncertainty is good. It creates an atmosphere for change. The people are gonna put pressure on government to do something. 
 

When Iraq goes to Washington to discuss the exchange rate, let’s hope they don’t fix it artificially. Hoping the solution is free market. De-peg from the dollar and move forward internationally!

Everything we are witnessing happened in germany…exciting times 

[6ly410]

Economists warn of "massive" anger in the street: the dollar will reach 170 thousand

Posted 20 seconds ago

Economists warn of "overwhelming" anger on the street: the dollar will reach 170 thousand - Iraq News (iraqakhbar-com.translate.goog)
 

news source /Baghdad today

Baghdad today - Baghdad

Today, Sunday, the expert in economic affairs, Raad Al-Masoudi, confirmed that the dollar is facing two strong pressures in the Iraqi markets, warning of the overwhelming anger of the street. He added, "The smuggling of the dollar out of the country and the pressure of the US Treasury on the central bank constitute two strong pressures on the exchange rate, pointing out that its rise to 170 is very likely," noting that "the danger of the high price of the dollar and its impact on the markets will create a stifling economic crisis that may lead to a wave Massive demonstrations, especially since the poverty rate in the country exceeds the 30% barrier, meaning that the situation will be very complicated if there are no logical solutions to the current crisis.
Al-Masoudi told (Baghdad Today) that “the rise in the exchange rate of the dollar in recent weeks has prompted an increase of 7-10% in prices on average in the Iraqi markets,” adding, “But its frequencies will be greater due to the high import costs with the presence of speculation.” And monopoly and weakness in the control tools, which means that the citizen’s attrition will be at the highest levels.”
He added, "The smuggling of dollars out of the country and the pressure of the US Treasury on the Central Bank constitutes strong pressure on the exchange rate, pointing out that its rise to 170 is very likely," noting that "the danger of the rise in the price of the dollar and its impact on the markets will create a stifling economic crisis that may lead to a wave of massive demonstrations, especially since the poverty rate in the country exceeds the barrier of 30%, meaning that the situation will be very complicated if there are no logical solutions to the current crisis.”

And yesterday, a member of the House of Representatives, Raed al-Maliki, announced the collection of parliamentary signatures to discuss the policies and procedures of the Central Bank regarding the rise in dollar exchange rates and the decline in currency exchange, in the presence of the Governor of the Central Bank. 

According to documents issued on the 10th of this month and obtained by (Baghdad Today): “Signatures of more than thirty deputies were collected demanding a discussion of the Central Bank of Iraq’s measures regarding the rise in dollar exchange rates and its instability in the local markets.”

On the other hand, political researcher Laith Shubar revealed information that he said was “revealed for the first time,” summed up by Iran’s possession of huge funds from the Iraqi dinar, through which it buys dollars from the Iraqi market and drains it.

Shubar said in a televised statement, followed by (Baghdad Today), that “we have information that Iran has 50 trillion dinars of the Iraqi currency seeking to replace it with dollars, and this information is revealed for the first time,” noting that “if the Iraqi dollar market remains wide open for purchase, the dollar will not It reaches 200,000 dinars only, but up to 500,000 dinars for every 100 dollars.”

He explained that "Iraq not only has to take governmental measures, but also international ones, and it must approach the UN Security Council to hold a special meeting on this matter, because this file concerns the livelihood of citizens and affects the national security of the country, because it will drain all the hard currency that Iraq possesses."

According to calculations conducted by Baghdad today, the 50 trillion Iraqi dinars is equivalent to about 32 billion dollars, while the daily sales of dollars in Iraq are about 100 million dollars, which means that this issue needs about a full year for the money in Iran's Possession to end.

[Bama Girl]

5 hours ago, 6ly410 said:

Shubar said in a televised statement, followed by (Baghdad Today), that “we have information that Iran has 50 trillion dinars of the Iraqi currency seeking to replace it with dollars, and this information is revealed for the first time,” noting that “if the Iraqi dollar market remains wide open for purchase, the dollar will not It reaches 200,000 dinars only, bu

Good grief, if this amount is accurate, no wonder we are reading articles indicating the U.S. has influence on Iraq redenominating or revaluating their currency. The U.S. only owns 4 trillion dinars, IF one can believe the articles

[3n1]

iran has counterfeited a lot of iqd they might have 50 trillion hopefully the cbi knows whats legit , they have updated some of the security features , at some point the cbi imo will have to pull the trigger implement the currency policies they want to have and move forward as a country ,,,, side note im sure iran being wonderful loving brethren neighbors would never do harm to iraq financially so should be good to go .......🤣

[Half Crazy Runner]

1 hour ago, 3n1 said:

iran has counterfeited a lot of iqd they might have 50 trillion hopefully the cbi knows whats legit , they have updated some of the security features , at some point the cbi imo will have to pull the trigger implement the currency policies they want to have and move forward as a country ,,,, side note im sure iran being wonderful loving brethren neighbors would never do harm to iraq financially so should be good to go .......🤣

I can’t imagine going to all the trouble of counterfeiting such a worthless currency (which would be cheaper to buy outright) unless they knew something definitely was going to happen with the rate… 

[3n1]

31 minutes ago, Half Crazy Runner said:

I can’t imagine going to all the trouble of counterfeiting such a worthless currency (which would be cheaper to buy outright) unless they knew something definitely was going to happen with the rate… 

 

true and i agree HCR , at one time when iran was under heavy US sanctions and not able to use the usd iran was counterfeiting iqd and obtaining usd from the corrupt banks in iraq they were aiding iran to circumvent the sanctions they were under that trump placed on them best i remember the fake notes were easily detectable but the banks did not care few are ever held accountable to be honest i dont believe 50 trillion iqd was ever printed by De La Rue .. we wait

[screwball]

9 hours ago, 6ly410 said:

Shubar said in a televised statement, followed by (Baghdad Today), that “we have information that Iran has 50 trillion dinars of the Iraqi currency seeking to replace it with dollars, and this information is revealed for the first time,” noting that “if the Iraqi dollar market remains wide open for purchase, the dollar will not It reaches 200,000 dinars only, but up to 500,000 dinars for every 100 dollars.”

wow

 

9 hours ago, 6ly410 said:

Iraq not only has to take governmental measures, but also international ones, and it must approach the UN Security Council to hold a special meeting on this matter, because this file concerns the livelihood of citizens and affects the national security of the country, because it will drain all the hard currency that Iraq possesses."

waiting..