Specialists: The price of one hundred dollars will settle at 135 thousand dinars

[yota691]

Specialists: The price of one hundred dollars will settle at 135 thousand dinars

Economical  2023/02/27

 

 Baghdad: the mainstay of the emirate

Specialists in economic affairs focused on the need for government agencies to take measures to limit the effects of the parallel market for selling foreign currency, stressing that this matter is a continuation of the steps taken with the aim of stopping the "climbing of the dollar", whose exchange rates touched the limits of 153 thousand dinars per 100 dollars. That the exchange rate stabilize within three weeks, at the price of 135 thousand dinars for every 100 dollars in the parallel markets.

The economist, Dr. Abd al-Rahman al-Mashhadani, believes during his interview with "Al-Sabah" that the success of the government and the central bank in stabilizing the exchange rate is mainly related to window sales of dollars. If it stabilizes above the rate of $50 million, the parallel exchange rates will be close to the official rate. , It is expected that the exchange rate will stabilize within three weeks, at a price of 135 thousand dinars per 100 dollars.

Al-Mashhadani pointed out that the price difference witnessed by the parallel markets will prompt small traders to regularly through the official window to sell the currency in order to obtain remittances, as the difference in selling dollars in exchanges and markets is high for merchants, in addition to other financial costs that accompany remittances. 

Al-Mashhadani favored the continuation of the work of "speculators" and their endeavor to confuse the market, especially in light of the presence of a number of banks that have become outside the work of the single window, calling for taking appropriate measures to reduce this phenomenon, which is now greatly affecting the overall economic reality in the country.

He attributed the confusion in selling the currency to the ineffectiveness of monetary tools in Iraq, as the interest rate was not well invested, and the bonds offered are also ineffective, and even compulsory saving is not an appropriate option at the present time as a result of the problems arising due to a “living crisis” caused by poor The administration that accompanied the process of changing the previous exchange rate, which led to the citizen losing about 50% of his real income.

The expert, Al-Mashhadani, criticized the inactivity of banks and their failure to provide appropriate financial incentives that would enable them to attract the funds hoarded by citizens, which are estimated at about 77% of the total currency exported, pointing out that this matter requires real education and hard work by banks.

The reasons for the rise in the parallel exchange rate are not limited to the regulatory procedures of the Central Bank, as Dr. Adnan Bahia, a specialist in economic affairs, sees, during his interview with "Al-Sabah", that "Iraq is an importing country, and that the operations of supplying goods are carried out in dollars, and thus we see the merchant, whether he is a wholesaler or Single in Baghdad and the provinces, the dollar is the measure of profit and pricing, and when there are intense speculations, highs, lows, and fluctuations in dollar prices, the market cannot stabilize, and the seller cannot sell without knowing whether the prices will go down or up, and whether he will win or lose, which means confusion The market and the occurrence of severe price fluctuations directly affect the consumer.

Baheya urged the importance of providing sufficient cash liquidity from the dollar in order to cover the needs of ordinary citizens of foreign currency for the purposes of travel and treatment, suggesting in that, separating the outlets designated for commercial transfers and others, from the movement of ordinary citizens and what is related to their travel, treatment and their needs in dollars.

For her part, the Dean of the Faculty of Business Economics at Al-Nahrain University, Dr. Nagham Hussein, told Al-Sabah that the current rise in the price of the dollar is temporary as a result of banks' failure to comply with global compliance rules in transferring to beneficiaries, and that the temporary increases that occurred are caused by regulatory conditions in the conduct of procedures. External transfer requests submitted by local banks on foreign currency, as work was done a while ago on the electronic platform to link bank transfers with correspondents from international banks and the relevant compliance bodies at the same time.

Dr. Hussein pointed out that "the new procedures restricted the supply of foreign currency temporarily, which requires a simple adjustment period in order for private banks to practice international compliance rules in transferring in the interest of beneficiaries of foreign trade operations to the private sector, and this matter requires some time to reorganize requests and their consistency with global requirements." convertible".

[coorslite21]

So perhaps $1.35 to start o float?.....or perhaps 13.5 cents....?

Remember...Saudi Arabia is at 27 cents....

CL 

[Pitcher]

9 minutes ago, coorslite21 said:

So perhaps $1.35 to start o float?.....or perhaps 13.5 cents....?

Remember...Saudi Arabia is at 27 cents..

I always thought they would float and start at .10.  So .135 sounds about right but I really don’t have a clue.  

[rvmydinar]

1 hour ago, coorslite21 said:

So perhaps $1.35 to start o float?.....or perhaps 13.5 cents....?

Remember...Saudi Arabia is at 27 cents....

CL 

1 USD=1.35 IQD. Therefore , 1 IQD=0.74 USD and this isn't a bad rate to start and float.

[rvmydinar]

1 hour ago, Pitcher said:

I always thought they would float and start at .10.  

I don't mind starting with 10 cents either. Bring it on.

[Laid Back]

Honestly after all this time if I get $0.10 per dinar. I move on and never look back.

 

Just get it done.

[Pitcher]

😛 I deleted this post.  I put it in the wrong thread.  My bad.  Carry on.  

 

[Danishere4news2]

36 minutes ago, rvmydinar said:

I don't mind starting with 10 cents either. Bring it on.

Yes even starting at 10 cents would be wonderful

[Pitcher]

20 minutes ago, Laid Back said:

Honestly after all this time if I get $0.10 per dinar. I move on and never look back.

 

If we don't have to turn it all in I will gladly sell some at .10 and continue the wait for a bit higher with the rest.  I bought more years ago just incase something like this happens.  If we get an RV to 1.35 and are forced to turn it all in I would be ecstatic!!!!

 

Something else to consider.  What if the Dinar comes in at .135 and everyone sells.  Then it goes to 1.35 or whatever at the Great Reset and the USD is revalued lower.  Could happen imo..

[BETTYBOOP]

50 British pence or above and I am gone

[rvmydinar]

18 minutes ago, Danishere4news2 said:

Yes even starting at 10 cents would be wonderful

Yep. At least ,  It is still better than 1,310.

[REDREDRED]

40 minutes ago, Laid Back said:

Honestly after all this time if I get $0.10 per dinar. I move on and never look back.

 

Just get it done.

Amen!

 

 

[fnbplanet]

With a long enough of a time frame for redemption, at $.10 I'd cash some to pay debt, and periodically buy some precious metals as it floats up as a safeguard to any U.S. devaluation and inflation.

[keylime]

3 hours ago, coorslite21 said:

So perhaps $1.35 to start o float?.....or perhaps 13.5 cents....?

Remember...Saudi Arabia is at 27 cents....

CL 

I just can't imagine Iraq coming out lower than Kuwait. They are way too prideful to put themselves under Kuwait. 

But we shall see...

[Pitcher]

 

Good thought keylime.  We have heard that many times in the past 15 years.  This would work too 😀

[Half Crazy Runner]

3 hours ago, Pitcher said:

 

Good thought keylime.  We have heard that many times in the past 15 years.  This would work too 😀

Kuwaiti dinar is the highest value currency in the world. If Iraq wants to go higher, that’s fine by me.. 😎😁

[screwball]

7 hours ago, coorslite21 said:

So perhaps $1.35 to start o float?.....or perhaps 13.5 cents....?

Remember...Saudi Arabia is at 27 cents....

who wouldnt be happy! 🤣

[Pitcher]

1 hour ago, screwball said:

who wouldnt be happy! 🤣

 

The ones who can't find their stash or got rid of them after 15 years of waiting.  I couldn't find mine for years and got so mad I would have gotten rid of them if I could have found them.  I'm in the process of moving and found the damn things just recently.  It wasn't my whole stash just a portion of it.  So bring it on Iraq, I'm now 100% ready.😀

[screwball]

1 minute ago, Pitcher said:

 

The ones who can't find there stash or got rid of them after 15 years of waiting.  I couldn't find mine for years and got so mad I would have gotten rid of them if I could have found them.  I'm in the process of moving and found the damn things just recently.  It wasn't my whole stash just a portion of it.  So bring it on Iraq, I'm now 100% ready.😀

did you see my post on ISX Broker.....just supports zeros need to come off in MHO

[rvmydinar]

17 hours ago, Pitcher said:

 

Good thought keylime.  We have heard that many times in the past 15 years.  This would work too 😀

3.26? Who doesn't want? But can Iraq really RV above 3 bucks / a straight RV ( not an RD plus an RI as gurus ever said )?