Parliamentary Law: Government Measures Are Useless in Fixing the Exchange Rate

[6ly410]

Parliamentary Law: Government Measures Are Useless in Fixing the Exchange Rate

Parliamentary Legal: Government Measures Are Useless in Fixing the Exchange Rate » Al-Sabah Newspaper (alsabaah-iq.translate.goog)

 

Baghdad: Muhannad Abdul Wahab

 

The parliamentary legal committee stated that the government's measures have so far failed to stabilize the exchange rate of the dinar against the dollar and rein in prices in the markets.

Meanwhile, an economist criticized the multiplicity of random exchanges that led to divergent exchange rates and speculation. Raed al-Maliki, a member of the legal, told Al-Sabah that the government's measures have not yet succeeded in stabilizing the dollar exchange rate, despite setting the official rate at 1130 dinars to the dollar, as the exchange rate still exceeds 150,100 dinars per <> dollars.

He added that the prices of goods and services are still very high, exceeding the prices that were when the dollar exchange rate was 1146 dinars per dollar, as we see this as a criterion for the soundness of the effectiveness of government measures.

He pointed out that the committee will not wait long about this, as the government bears the difference in the dollar rate between the official and parallel sale in the market.

Al-Maliki pointed out that the procedures for arresting a person or market speculator will not suffice, because the country's foreign trade is large and depends on the dollar, so these steps are so far insufficient or convincing.

For his part, the economic expert, Saleh Al-Hamashi, said: The problem of the currency market lies in the monetary policy followed by the Central Bank and the window for selling the currency, in addition to the absence of real and organized stock exchanges inside the country, including Al-Kifah, Al-Harithiya, New Baghdad, Al-Kadhimiya and Al-Shorja. 

And he indicated that these stock exchanges are not regulated by a law and screens displaying currency sale prices, and the government did not care about them, as they remained randomly, and the Central Bank still does not have, until this moment, the real data on the size of the market despite the size of the known monetary mass, so there has become a defect between Supply and demand that the bank could not control, in addition to the random trade that clearly affected the withdrawal of cash.

And he indicated that despite all the figures sold by the Central Bank, the price of the dollar is still high due to the lack of regulation of internal trade. 

He pointed out that the solutions lie in the Central Bank dealing with the Ministry of Commerce to determine the parties that have the right to import, as well as regulating the stock exchanges realistically to suit the exchange rate of the dinar, as their price-generating differences Speculation, stressing that the monetary policy followed by the Central Bank is unrealistic and does not fit with the economic problem.

[rvmydinar]

42 minutes ago, 6ly410 said:

Parliamentary Law: Government Measures Are Useless in Fixing the Exchange Rate

despite setting the official rate at 1130 dinars to the dollar, as the exchange rate still exceeds 150,100 dinars per <> dollars.

1,130? Wow. Did I read this right? Since when did the dinar revalue to 1,130? Was the rate 1,130 the second package / RV that cbi has been talking about? Could this rate 1,130 be a translation error?

[Half Crazy Runner]

5 hours ago, rvmydinar said:

1,130? Wow. Did I read this right? Since when did the dinar revalue to 1,130? Was the rate 1,130 the second package / RV that cbi has been talking about? Could this rate 1,130 be a translation error?

I think the official rate is 1350, so this is odd….

[screwball]

7 hours ago, 6ly410 said:

stressing that the monetary policy followed by the Central Bank is unrealistic and does not fit with the economic problem.

⏰💣🙏

[screwball]

this is what I am trying to hint at the exchange rate does not fit with economic rebuild and budget....

[screwball]

7 hours ago, 6ly410 said:

as well as regulating the stock exchanges realistically to suit the exchange rate of the dinar,

the fact is the stock market has been dormant for over 19 years....its ready to 💥

[rvmydinar]

14 hours ago, Half Crazy Runner said:

I think the official rate is 1350, so this is odd….

Does odd mean a good thing in regards to Iraq dinar? 

[keylime]

7 minutes ago, rvmydinar said:

Does odd mean a good thing in regards to Iraq dinar? 

Odd isn't good in regards to Iraq dinar until it's an EVEN 1 to 1 with US dollar!

Then people will say, "That's odd, Iraq dinar is an EVEN 1 to 1 with the US dollar!"

That's when odd will be a good thing in regards to Iraq dinar.

[rvmydinar]

1 minute ago, keylime said:

Odd isn't good in regards to Iraq dinar until it's an EVEN 1 to 1 with US dollar!

👍🙏

[rvmydinar]

10 minutes ago, keylime said:

Odd isn't good in regards to Iraq dinar until it's an EVEN 1 to 1 with US dollar!

Then people will say, "That's odd, Iraq dinar is an EVEN 1 to 1 with the US dollar!"

That's when odd will be a good thing in regards to Iraq dinar.

Thanks for your clarification keylime.