The central governor reveals the secrets of decreasing the dollar and the reason for its rise in the markets

[screwball]

3 minutes ago, edbeach said:

screwball I don't know what you are referring to but I am talking about the article where it was said so we don't think the price is the real price, read the artical you will see why I said that

many parts of the article you quoted one part I am responding to the highlighted parts about rate not being REAL and you comment of my misunderstanding??? I am simply arguing that hes correct rate is NOT REAL and why its not! and we need SWIFT FOREX and it needs to be international 

[edbeach]

1 minute ago, screwball said:

many parts of the article you quoted one part I am responding to the highlighted parts about rate not being REAL and you comment of my misunderstanding??? I am simply arguing that hes correct rate is NOT REAL and why its not! and we need SWIFT FOREX and it needs to be international 

all I am saying from point that 6ly410 commented on article time 1 hour ago  was referring to red caption "so we don't think the price is the real price " 

[screwball]

42 minutes ago, edbeach said:

all I am saying from point that 6ly410 commented on article time 1 hour ago  was referring to red caption "so we don't think the price is the real price " 

okay thanks  I apologise for my misunderstanding!

[steveh12]

I'm so Confused!!   😝

[6ly410]

CBI Governor: The electronic platform came to serve the

 

banking sector

Economic Agency News - Governor of the Central Bank: The electronic platform came to serve the banking sector (economy-news.net)

---

Economy News-Baghdad

The Governor of the Central Bank of Iraq, Ali Al-Alaq, on Wednesday, that the platform was found to protect the banking sector, while pointing to the Central Bank's determination to stabilize the dollar exchange rate.
Al-Alaq told the Iraqi News Agency that "the new electronic platform to avoid any sanctions on the parties that carry out transfers, whether banks or others, is to protect the banking sector, the Central Bank and banks from falling into any forms related to external financial transfers, and this serves all parties."

On the exchange rate of the dollar, Al-Alaq explained that "the responsibility of the Central Bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support from all parties to achieve the goal," adding, "Our talks with the International Monetary Fund were very fruitful and we agreed on programs that serve directly and indirectly to achieve this goal."

Views 151

Added 2023/02/15 - 8:47 AM

Update 2023/02/15 - 12:00 PM

[6ly410]

Al-Alaq: The responsibility of the Central Bank is to close the difference in the dollar exchange rate

Al-Alaq: The responsibility of the Central Bank to close the difference in the dollar exchange rate – Iraq News Network (aliraqnews.com)

Last Updated: 15 February 2023 - 10:56 AM

Baghdad / Iraq News Network - The Governor of the Central Bank of Iraq, a leader in the Dawa Party Ali Al-Alaq, on Wednesday, that the platform was found to protect the banking sector, while pointing to the Central Bank's determination to stabilize the dollar exchange rate. Dollar exchange rate Al-Alaq explained that "the responsibility of the Central Bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support from all parties to achieve the goal," adding, "Our talks with the International Monetary Fund were very fruitful and we agreed on programs that serve directly and indirectly to achieve this goal."

[DanP]

Thanks 6Ly. Hopefully in the coming days, all their ramble will come to fruition.

[6ly410]

 

New statements from the Governor of the Central Bank on the dollar crisis

2023.02.15 - 08:41

New statements from the Governor of the Central Bank on the dollar crisis (nasnews.com)

  

Baghdad - Nas  

The Governor of the Central Bank of Iraq, Ali Al-Alaq, on Wednesday, that the platform was created to protect the banking sector, while pointing to the Central Bank's determination to stabilize the dollar exchange rate.  

  

  

Al-Alaq said in a statement to the official agency affiliated with "NAS", (February 15, 2023), that "the new electronic platform to avoid any penalties on the parties that carry out transfers, whether banks or others, is a protection for the banking sector, the Central Bank and banks from falling into any forms related to external financial transfers, and this serves all parties."  

  

On the exchange rate of the dollar, Al-Alaq explained that "the responsibility of the Central Bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support from all parties to achieve the goal," adding, "Our talks with the International Monetary Fund were very fruitful and we agreed on programs that serve directly and indirectly to achieve this goal."  

 

 

[6ly410]

Central Bank of Iraq: We are determined to stabilize the dollar exchange rate

Central Bank of Iraq: We are determined to stabilize the dollar exchange rate (nrttv.com)

AM:08:27:15/02/2023

1124 Viewed

 

The Central Bank of Iraq confirmed on Wednesday that the platform was created to protect the banking sector, pointing to the Central Bank's determination to stabilize the dollar exchange rate.

 

The governor of the bank, Ali Al-Alaq, told the Iraqi News Agency (INA) that "the new electronic platform to avoid any sanctions on the parties that carry out transfers, whether banks or others, is a protection for the banking sector, the Central Bank and banks from falling into any forms related to foreign financial transfers, and this serves all parties."

 

On the dollar exchange rate, Al-Alaq explained that "the responsibility of the Central Bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support from all parties to achieve the goal."

He explained that "our talks with the International Monetary Fund were very fruitful and we agreed on programs that serve directly and indirectly to achieve this goal."

 

Previously, the Central Bank of Iraq called on travelers wishing to buy dollars to go to exchange companies.

 

The bank said in a statement: "The Central Bank of Iraq calls on citizens who intend to travel to countries allowed to deal in the US dollar currency to go to the outlets of banks, exchange companies and brokerage companies to buy and sell foreign currencies licensed to buy dollars at the official rate specified."

 

The bank noted that "the sale of the dollar will be in accordance with the instructions and controls of the Central Bank of Iraq," stressing that "in the event that any of the banks or companies refrains from selling at the official rate, the numbers (07809224663) or (07853330555) are contacted to file a complaint against the party that refrains from doing so."

 

He pointed out that "the outlets of banks to sell foreign currency continue to work by selling dollars in accordance with the instructions and controls of the Central Bank of Iraq, which launched earlier a package of measures that contribute to the stability of the foreign currency market."

[screwball]

2 hours ago, 6ly410 said:

The bank said in a statement: "The Central Bank of Iraq calls on citizens who intend to travel to countries allowed to deal in the US dollar currency to go to the outlets of banks, exchange companies and brokerage companies to buy and sell foreign currencies licensed to buy dollars at the official rate specified."

Swift 101

[keylime]

On the dollar exchange rate, Al-Alaq explained that "the responsibility of the Central Bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support system" rel="">support from all parties to achieve the goal."
 

This statement alone says RV. Well the US isn't devaluing our dollar via an RV so in order for the exchange rate of the dinar to close the gap they have to increase its value big time. And it sounds like by all accounts, the time is right 👍

[Dinarrock]

2 hours ago, keylime said:

On the dollar exchange rate, Al-Alaq explained that "the responsibility of the Central Bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support system' target='_blank' style=" rel="">support system" rel="">support from all parties to achieve the goal."
 

This statement alone says RV. Well the US isn't devaluing our dollar via an RV so in order for the exchange rate of the dinar to close the gap they have to increase its value big time. And it sounds like by all accounts, the time is right 👍

On the face of it I agree with you however knowing Iraq and there loss in translation for things this maybe just talking about reducing the dollar difference between the street rate and their current official rate of 1310 unfortunately! This is all they have been talking about lately and the reason why the dropped to 1310 to begin with. But here’s hoping for an actual RV in our lifetime!

[6ly410]

ERBIL, Kurdistan Region - The recent revaluation of the Iraqi dinar is aimed at ensuring that inflation does not impact the ability of citizens to purchase goods, the head of the Iraqi Central Bank told Rudaw on Tuesday. 

Iraq earlier in February restored the exchange rate of the IQD-USD to 1,300 per dollar, the highest value of the dinar since 2020, amid a depreciation of the dinar leading to a surge in prices of basic goods and protests by Iraqi citizens. 

“The main reason is the rise of inflation, and we don’t want to prevent the citizen [from purchasing goods] especially as the average prices rise,” Ali Mohsen al-Alaq, governor of the Iraqi Central Bank, told Rudaw’s Diyar Kurda during an Iraqi delegation visit to Washington. 

However, despite the official rate of the IQD gaining value, the currency markets still sell the dinar at around 1,550 to $1, a stark difference from the official rate of 1,300 set by the Central Bank. 

“The official rate should not exceed 1,300 IQD in the markets. We do not see any reason or notion to sell the dollar higher than this price, as long as the Central Bank is committed and dedicated to providing the dollar at the official price,” Alaq said, calling on exchange markets to avoid illegitimate operations and to sell the dollar at the official price. 

Alaq defended the recent revaluation by assuring that the dinar enjoys a strong number of backup options and added that the value set by the Central Bank is a “realistic value and not made-up.” 

“The main goal is to stabilize the prices.” 

In January, the value of a dollar was placed at 1,750 IQD in the currency markets of Iraq and the Kurdistan Region - the highest exchange rate during the depreciation.

The drop of the Iraqi dinar value was attributed to corruption, smuggling dollars out of Iraq, and pressure from the United States.

According to Alaq, the changes that emerged from their meetings with US officials will ensure that a more careful auditing process is executed for Iraq transactions and that the platform for transferring funds internationally will stabilize. 

Iraqi Prime Minister Mohammed Shia’ al-Sudani - who has vowed to control the unstable exchange rate - sacked the governor of the country’s Central Bank in late January, replacing Mustafa Ghalib Makhif with Alaq as protests in Baghdad ensued after prices of goods surged.

Iraq’s public servants are particularly affected with the instability in the exchange rate, as they continue to suffer with a reduced salary from the drop in currency value. 

The Iraqi Central Bank in late 2020 devalued the dinar against the US dollar by 22 percent, dropping it from 1,182 IQD to 1,450 IQD and sparking public outrage. The devaluation came in an effort to combat a national liquidity crisis and bring in much-needed cash to the government’s coffers.

[6ly410]

 

[keylime]

2 hours ago, Dinarrock said:

On the face of it I agree with you however knowing Iraq and there loss in translation for things this maybe just talking about reducing the dollar difference between the street rate and their current official rate of 1310 unfortunately! This is all they have been talking about lately and the reason why the dropped to 1310 to begin with. But here’s hoping for an actual RV in our lifetime!

It's not unfortunate because it may not be just talking about reducing the dollar difference between the street rate and their current official rate of 1310.

 

They just very well may be talking about an RV.

Maybe.

 

We shall see soon enough hopefullly

[Half Crazy Runner]

4 hours ago, Dinarrock said:

On the face of it I agree with you however knowing Iraq and there loss in translation for things this maybe just talking about reducing the dollar difference between the street rate and their current official rate of 1310 unfortunately! This is all they have been talking about lately and the reason why the dropped to 1310 to begin with. But here’s hoping for an actual RV in our lifetime!

That’s my thought too. And I am also hoping for an actual RV!! 🤞🏻

[horsesoldier]

Looks like I picked the wrong week to stop snorting Alfalfa.

[6ly410]

Source for Al-Furat News: The near expansion of dollar outlets and a new package for the Central Bank

 

•  Time : 2023/02/16 10:53:32
• Source for Al-Furat News: The near expansion of dollar outlets and a new package for the Central Bank - Al-Furat News (alforatnews.iq)

  

{Economic: Al-Furat News} An informed source revealed the imminent expansion of dollar outlets at the official price of 1320 dinars.

 

 

The source told Al-Furat News: "Soon the outlets for selling dollars to citizens to government banks and other parties will be expanded to include commercial centers, malls and others."

He pointed to "the imminent issuance of a new package of measures by the Central Bank of Iraq to control the exchange rate, including the movement of transactions in dinars in all fields instead of the dollar with regard to buying and selling."

The governor of the Iraqi Central Bank, Ali Al-Alaq, announced two days ago that the bank "will issue a number of instructions and directives to banks and other financial institutions in order to make things clear and easy, so that they can access the platform as soon as possible, the faster the speed is achieved in joining this platform, the more there is a balance between supply and demand."

He pointed out that "the official price should not exceed 1320 dinars against the dollar in the market, we believe that there is no reason or justification to sell the dollar for more than this price."

[screwball]

5 minutes ago, 6ly410 said:

official price of 1320 dinars.

 

 

The source told Al-Furat News: "Soon the outlets for selling dollars to citizens to government banks and other parties will be expanded to include commercial centers, malls and others."

He pointed to "the imminent issuance of a new package of measures by the Central Bank of Iraq to control the exchange rate, including the movement of transactions in dinars in all fields instead of the dollar with regard to buying and selling."

Imminent must be the new soon…this is getting exciting…

[screwball]

7 minutes ago, 6ly410 said:

so that they can access the platform as soon as possible, the faster the speed is achieved in joining this platform, the more there is a balance between supply and demand."

There you go….so they don’t have access….

[screwball]

8 minutes ago, 6ly410 said:

Source for Al-Furat News: The near expansion of dollar outlets and a new package for the Central Bank

 

•  Time : 2023/02/16 10:53:32
• Source for Al-Furat News: The near expansion of dollar outlets and a new package for the Central Bank - Al-Furat News (alforatnews.iq)

  

{Economic: Al-Furat News} An informed source revealed the imminent expansion of dollar outlets at the official price of 1320 dinars.

 

 

The source told Al-Furat News: "Soon the outlets for selling dollars to citizens to government banks and other parties will be expanded to include commercial centers, malls and others."

He pointed to "the imminent issuance of a new package of measures by the Central Bank of Iraq to control the exchange rate, including the movement of transactions in dinars in all fields instead of the dollar with regard to buying and selling."

The governor of the Iraqi Central Bank, Ali Al-Alaq, announced two days ago that the bank "will issue a number of instructions and directives to banks and other financial institutions in order to make things clear and easy, so that they can access the platform as soon as possible, the faster the speed is achieved in joining this platform, the more there is a balance between supply and demand."

He pointed out that "the official price should not exceed 1320 dinars against the dollar in the market, we believe that there is no reason or justification to sell the dollar for more than this price."

@6ly410great article! Your on fire lately…