Al-Muslimawy: There is a policy to reduce the dollar exchange rate and control it in Iraqi markets

[RJG]

Al-Muslimawy: There is a policy to reduce the dollar exchange rate and control it in Iraqi markets

 

PM:06:51:04/03/2024

1980 views

 

Firas Al-Muslimaoui, representative of the State of Law coalition, said today, Monday, that there is a policy to reduce the dollar exchange rate and control it in Iraqi markets.

 

Al-Muslimaoui added, in a special statement to an NRT Arabia correspondent, that through our hosting of the Governor of the Central Bank in the House of Representatives and more than once, he demonstrated that there is a policy to reduce the dollar exchange rate and control it in the Iraqi markets.

 

He pointed out, “There are internal factors that the management of the Central Bank is working on, while external factors are within the jurisdiction of the federal government, with regard to communication and relations with the Federal Bank. 

 

Al-Muslimaoui pointed out that the conditions imposed by the Central Bank administration are to limit the smuggling of cash, adding that there are steps in the right direction to almost gradually reduce the dollar exchange rate because the sudden decline is hitting the Iraqi markets.

Goran Abdullah - Baghdad

https://www.nrttv.com/ar/detail3/24229

[Jaygo]

2 hours ago, RJG said:

Al-Muslimawy: There is a policy to reduce the dollar exchange rate and control it in Iraqi markets

 

PM:06:51:04/03/2024

1980 views

 

Firas Al-Muslimaoui, representative of the State of Law coalition, said today, Monday, that there is a policy to reduce the dollar exchange rate and control it in Iraqi markets.

 

Al-Muslimaoui added, in a special statement to an NRT Arabia correspondent, that through our hosting of the Governor of the Central Bank in the House of Representatives and more than once, he demonstrated that there is a policy to reduce the dollar exchange rate and control it in the Iraqi markets.

 

He pointed out, “There are internal factors that the management of the Central Bank is working on, while external factors are within the jurisdiction of the federal government, with regard to communication and relations with the Federal Bank. 

 

Al-Muslimaoui pointed out that the conditions imposed by the Central Bank administration are to limit the smuggling of cash, adding that there are steps in the right direction to almost gradually reduce the dollar exchange rate because the sudden decline is hitting the Iraqi markets.

Goran Abdullah - Baghdad

https://www.nrttv.com/ar/detail3/24229

Float 

[steveh12]

And the Winner Is?? 😝

[horsesoldier]

This is EPIC ridiculousness !!!

They never tire of this broken record narrative. Bless us for our intentions because our actions in follow through are downright pathetic.

Survive to 2025. With Ramadan beginning 10 March thru 9 April: clocks ticking. They're not launching the IQD during that timeframe. So long 1st Quarter, better luck next year. Prove me wrong Iraq, please prove me wrong.

[gregp]

4 hours ago, Jaygo said:

Float 

My bad. I flushed. 

[Dretown39]

1 hour ago, horsesoldier said:

This is EPIC ridiculousness !!!

They never tire of this broken record narrative. Bless us for our intentions because our actions in follow through are downright pathetic.

Survive to 2025. With Ramadan beginning 10 March thru 9 April: clocks ticking. They're not launching the IQD during that timeframe. So long 1st Quarter, better luck next year. Prove me wrong Iraq, please prove me wrong.

I was told Iraq wont add value during that time period because it violates their religion or laws. Kuwait revalue their currency during Ramadan..correct?

[screwball]

5 hours ago, Dretown39 said:

I was told Iraq wont add value during that time period because it violates their religion or laws. Kuwait revalue their currency during Ramadan..correct?

When did the zeros go on September October? During Ramadan? 

[Officiallytook]

Should be under control and across the world by July 

[screwball]

22 minutes ago, Officiallytook said:

Should be under control and across the world by July 

Which year?

[rvmydinar]

12 hours ago, steveh12 said:

And the Winner Is?? 😝

The currency dealers and traders are the only one who make more money and a huge profit from buying and selling Iraq dinar to dinar holders like us, aren't they.

[RJG]

Dinar and dollar

 

7 hours ago

 

March 4, 2024

Mohammed Rashid

Most of the crises that accompanied us led to the collapse of our national currency (the dinar) were due to the wars that were forcibly imposed on Iraq by some major powers for many years, and the dollar was the final command that dominated the economic scene and contributed to destroying the value of the Iraqi dinar.

In 1970, a piece of land with an area of (600) square meters in the most prestigious place in our city of architecture was worth (5) thousand dinars, and today the same piece is worth (one billion) and (500) million dinars. This is how playing with the fate of peoples was in order to weaken them and control them. Its human and oil resources.

Today, the economic world is witnessing a qualitative boom in awareness, and very soon it will overthrow the “dollar” and its name will be changed in the coming period to “the dinar” and after a while to “the dollar,” and in the end it will completely lose its value and its printing price will be equal to (a number of cents).

In a televised interview with the “”Iraqi President, Engineer Muhammad Shiaa Al-Sudani””, he uttered a very important phrase (keep the dinar). Today, through my humble vision, I bear witness that the “”Iraqi dinar will return to its lofty economic value””, away from wars and violence, through a new era that imposes its cultural will in the region and the world.

[RJG]

The Sudanese advisor details Iraq's financial situation and addresses exchange rates

 

 

Sweeteners

   

 

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Economy News - Baghdad

Today, Tuesday, the Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih, stated the real growth rate in Iraq’s non-oil gross domestic product, while referring to Iraq’s financial situation.

Saleh said, in an interview followed by “Al-Eqtisad News,” that “the basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceed 100 billion dollars, which is the cover of the national currency, which means that there is complete coverage of the national currency issued in foreign currency, which provides "Ideal stability for the Iraqi dinar exchange rate, in addition to the fact that these foreign reserves embody Iraq's commercial efficiency, as these reserves cover more than 15 commercial months, while the global standard is only three months."

He added, "We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8%), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth."  

He pointed out that "the real growth rate in Iraq's non-oil gross domestic product has touched (6%), and it expresses the growth of the activities of important sectors, most notably the reconstruction, construction and housing movement, and the development of the transport and digital communications sector, and there is a continuing movement in developing the agricultural sector thanks to government support for crops." We expect Iraq’s grain production in the next few months to reach 6 million tons.”

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Views 167

Added 03/05/2024 - 9:23 AM

https://economy-news.net/content.php?id=41130

[RJG]

Experts: We are optimistic about the country's financial situation

Iraq  03/05/2024

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+A -A

 

 Baghdad: Huda Al-Azzawi

 

Specialists in financial and economic affairs expressed their optimism about the future outlook for the country’s financial situation, and while they saw that Prime Minister Muhammad Shiaa Al-Sudani’s statement regarding this aspect and the overall economic file is correct and consistent with reality, they called for the continuation of steps to leave the unilateral rentier economy to a productive economy.

Advisor to the Prime Minister for Financial and Economic Affairs, Dr. Mazhar Muhammad Salih, said in an interview with “Al-Sabah”: The basis comes from the strength of the foreign asset reserves that Iraq possesses, which exceeded 100 billion dollars, which is the cover of the national currency, which means that there is complete coverage of cash. The national export in foreign currency, which provides ideal stability for the exchange rate of the Iraqi dinar, in addition to the fact that these foreign reserves embody the commercial efficiency of Iraq, as these reserves cover more than 15 commercial months, while the international standard is only three months. He added, “We must not forget that the surplus in the current account of the balance of payments relative to the gross domestic product also did not fall below (positive 8 percent), which is a high indicator that reflects the strength of the external sector in the national economy, that is, its stability and growth.” 

He pointed out that “the real growth rate in Iraq’s non-oil gross domestic product has touched (6 percent) and it reflects the growth of the activities of important sectors, most notably the reconstruction, construction and housing movement and the development of the transport and digital communications sector, and there is a continuing movement in developing the agricultural sector thanks to government support for crops.” “We expect Iraq’s grain production in the next few months to reach 6 million tons.”

He stressed, “There is a serious trend towards developing the manufacturing sector, whether on the part of the private or public sector itself, in accordance with recent encouraging ministerial decisions in the field of reducing customs tariffs and protecting the national product or in the inputs of the industry itself, especially in providing electricity or fuel for industrial purposes at competitive prices.” Supported.

Saleh stated, “Growth in real non-oil activity has become thriving after many years of failure, in addition to the boom in investments in the oil and energy sector itself, as all sectoral activities indicate that there is a high growth in the country’s economic capabilities with high flexibility and discipline in financial policy.” In which government spending still constitutes approximately 50 percent of the gross domestic product, which means that the country’s financial strategy is the compass for moving the macroeconomic joints, and it is in a highly stable position, both in the flow of oil revenues and controlling public expenditures.”

For his part, the rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, indicated in an interview with “Al-Sabah” that “what Prime Minister Muhammad Shiaa Al-Sudani stated that the financial situation of Iraq is at its best is correct; If the political, economic and financial situation of Iraq remains as it is.”

He noted that “the financial conditions are stable according to current data, including the stability of the political situation and the possibility of Iraq exporting more than three and a half million barrels per day at a price of more than $70 per barrel, either if these indicators change, whether with regard to the political situation and a decrease in oil prices or a halt.” Export chains for Iraqi oil. Iraq has a cash reserve in the range of 115 or 120 billion dollars that can be used over a period of two years, after which it may be exposed to financial crises.”

He explained, “Despite Sudanese work to bring about some changes, the Iraqi economy is still a unilateral rentier economy that relies on oil as the main financier of the general budget, and non-oil revenues are still very low, and the main sectors of the Iraqi economy are still stalled or slow.” He concluded by saying: “Therefore, it cannot be relied upon in the event of a decline in oil prices, the inability to export oil, changes, or great stability on the political side. Therefore, according to the current situation, what the Prime Minister stated - as I previously indicated - is correct.” “.

 

Edited by: Muhammad Al-Ansari

https://alsabaah.iq/92892-.html

[Dretown39]

4 hours ago, screwball said:

When did the zeros go on September October? During Ramadan? 

I have no clue. I researched Ramadan in 1991 & it appears Kuwait reinstated their currency during that time. I'm trying to get factual answers if whether or not it matters when Iraq revalue theirs this month.

[Officiallytook]

6 hours ago, screwball said:

Which year?

Hopefully this year... 

[Laid Back]

the “”Iraqi President, Engineer Muhammad Shiaa Al-Sudani””, he uttered a very important phrase (keep the dinar). Today, through my humble vision, I bear witness that the “”Iraqi dinar will return to its lofty economic value””

 

Go Stronger Dinar 👊🏼💵

 

 

 

 

[rvmydinar]

4 hours ago, RJG said:

 “”Iraqi dinar will return to its lofty economic value””

Just wonder , what does " Lofty economic value " mean, according to iraq definition? Since this article isn't written by the cbi , then just take this as an entertainment purpose only.

[horsesoldier]

18 minutes ago, rvmydinar said:

Just wonder , what does " Lofty economic value " mean, according to iraq definition? Since this article isn't written by the cbi , then just take this as an entertainment purpose only.

Does "lofty" mean much when as they report they'll be taking Zeros off the currency rather than the exchange rate making a 25K note worth 25 IQD ???

To be believed or just smoke ???

[rvmydinar]

6 minutes ago, horsesoldier said:

Does "lofty" mean much when as they report they'll be taking Zeros off the currency rather than the exchange rate making a 25K note worth 25 IQD ???

To be believed or just smoke ???

That's a LOP dan noone want " LOP ". Hope it's just smoke. Everyone can try to make a wild guess , however noone knows exactly what the cbi is going to do with their currency until that happens one day.

[3n1]

58 minutes ago, horsesoldier said:

Does "lofty" mean much when as they report they'll be taking Zeros off the currency rather than the exchange rate making a 25K note worth 25 IQD ???

To be believed or just smoke ???

 

who knows , typically central banks perform a lop in times of super high inflation not sure what lofty means to them i know what it means to me it might mean 1170 to them , im hoping for a pre gulf war rate thats my definition of lofty ... cheers

[Longtimelurker]

1 hour ago, rvmydinar said:

Just wonder , what does " Lofty economic value " mean, according to iraq definition? Since this article isn't written by the cbi , then just take this as an entertainment purpose only.

loft·y

[ˈlôfdē, ˈläfdē]

adjective

of imposing height:

"the elegant square was shaded by lofty palms"

similar:

tall

high

giant

towering

 

of a noble or exalted nature:

"an extraordinary mixture of harsh reality and lofty ideals"

similar:

noble

exalted

high

 

proud, aloof, or self-important:

"lofty intellectual disdain"

similar:

haughty

proud

aloof

 

 

 

I like "lofty"!!!!

[horsesoldier]

19 minutes ago, Longtimelurker said:

loft·y

[ˈlôfdē, ˈläfdē]

adjective

of imposing height:

"the elegant square was shaded by lofty palms"

similar:

tall

high

giant

towering

 

of a noble or exalted nature:

"an extraordinary mixture of harsh reality and lofty ideals"

similar:

noble

exalted

high

 

proud, aloof, or self-important:

"lofty intellectual disdain"

similar:

haughty

proud

aloof

 

 

 

I like "lofty"!!!!

The one description (s) I can connect to Iraq-haughty, aloof & (false) pride. One or 2 others might suggest themselves, I think we're worlds apart on any similarity on meaning. 

Wait & see as always 

[rvmydinar]

35 minutes ago, Longtimelurker said:

I like "lofty"!!!!

Hopefully, " lofty " means high rate as the rate will return to what it was in the 70's.

[screwball]

4 hours ago, Officiallytook said:

Hopefully this year... 

🙏

[screwball]

3 hours ago, rvmydinar said:

Just wonder , what does " Lofty economic value " mean, according to iraq definition? Since this article isn't written by the cbi , then just take this as an entertainment purpose only.

If they think 1160 is loft then we in serious trouble 😂😂😂go 3.22