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Central Bank Governor: We will not reduce the dollar exchange rate now


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Central Bank Governor: We will not reduce the dollar exchange rate now

  • Time: 2024/08/04 15:22:32
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Central Bank Governor: We will not reduce the dollar exchange rate now
  
{Economic: Al Furat News} Member of the Parliamentary Finance Committee, Ikhlas Al Dulaimi, confirmed that the Governor of the Central Bank, Ali Al Alaq, confirmed that “there will not be a move to reduce the dollar exchange rate at the present time.”

 Al-Dulaimi said in a press statement that "the dollar price has stabilized somewhat, and it may rise and fall within certain limits," indicating: "We will not currently go to reduce the dollar price, as the governor of the Central Bank said, considering that there are other measures that have not been taken."

She warned that "the recent security repercussions and the problems between Iran and America may have repercussions on some banks and the dollar price."

She explained that "the Ministry of Finance is demanding funding, and the issue has not been resolved yet, and this is one of the reasons for hosting the governor of the Central Bank today, as there were answers and other answers will be sent soon."
 

Today, Sunday, the Parliamentary Finance Committee hosted the Governor of the Central Bank to follow up on the exchange rate file, the Real Estate Bank initiative, the auction file, and foreign trade financing.

It is noteworthy that the dollar exchange rate in the parallel market is about 1490 dinars, while the Central Bank of Iraq sells the dollar at the official price of 1320 dinars.

 

https://alforatnews.iq/news/محافظ-البنك-المركزي-لن-نذهب-الى-خفض-صرف-الدولار-حالياً

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43 minutes ago, Mary B said:

Central Bank Governor: We will not reduce the dollar exchange rate now

  • Time: 2024/08/04 15:22:32
  •  
  • Reading: 364 times
Central Bank Governor: We will not reduce the dollar exchange rate now
  
{Economic: Al Furat News} Member of the Parliamentary Finance Committee, Ikhlas Al Dulaimi, confirmed that the Governor of the Central Bank, Ali Al Alaq, confirmed that “there will not be a move to reduce the dollar exchange rate at the present time.”

 Al-Dulaimi said in a press statement that "the dollar price has stabilized somewhat, and it may rise and fall within certain limits," indicating: "We will not currently go to reduce the dollar price, as the governor of the Central Bank said, considering that there are other measures that have not been taken."

She warned that "the recent security repercussions and the problems between Iran and America may have repercussions on some banks and the dollar price."

She explained that "the Ministry of Finance is demanding funding, and the issue has not been resolved yet, and this is one of the reasons for hosting the governor of the Central Bank today, as there were answers and other answers will be sent soon."
 

Today, Sunday, the Parliamentary Finance Committee hosted the Governor of the Central Bank to follow up on the exchange rate file, the Real Estate Bank initiative, the auction file, and foreign trade financing.

It is noteworthy that the dollar exchange rate in the parallel market is about 1490 dinars, while the Central Bank of Iraq sells the dollar at the official price of 1320 dinars.

 

https://alforatnews.iq/news/محافظ-البنك-المركزي-لن-نذهب-الى-خفض-صرف-الدولار-حالياً

Resolve your issues and be done with it..

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“There will not be a move to reduce the dollar exchange rate at the present time.”  How many times have we seen the words “soon” or “in the near future”?  That has never been a reliable estimate.  Are we to believe “present time” is all of the sudden an accurate timeline?  Thoughts?

Edited by Archer101
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16 minutes ago, keylime said:

Well whoever believes in the "smoke and mirrors" theory. This statement is the thickest smoke and biggest mirror to date. LOL! Which means RV/RI next.....

So that thought crossed my mind because Kuwait said the same thing & then later that day flipped the switch. On the other hand because the nonsense that has come out with U.S. Fed Reserve potentially dropping the hammer on them I said stay grounded to see what they do next.

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Maybe between 2025-2030 if we are lucky.


Still waiting for 

HCL

Art 140

WTO

Banking Reforms 

Census 

Salary scale Law

Fight against Corruption in the dollar auction 

Investment Law

New CBI building 

 

Seat back and relax, still some work to do.

 

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28 minutes ago, Laid Back said:

Maybe between 2025-2030 if we are lucky.


Still waiting for 

HCL

Art 140

WTO

Banking Reforms 

Census 

Salary scale Law

Fight against Corruption in the dollar auction 

Investment Law

New CBI building 

 

Seat back and relax, still some work to do.

 

 

Maybe, but it might be possible that they are waiting on a rate change first.  Tough to do all those things you listed without an RV/RI because I am sure not all in the government know the new rate.  Too many loose lips.  

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2 hours ago, keylime said:

Well whoever believes in the "smoke and mirrors" theory. This statement is the thickest smoke and biggest mirror to date. LOL! Which means RV/RI next.....

 

I was thinking the same thing.

 

2 hours ago, Dretown39 said:

So that thought crossed my mind because Kuwait said the same thing & then later that day flipped the switch. On the other hand because the nonsense that has come out with U.S. Fed Reserve potentially dropping the hammer on them I said stay grounded to see what they do next.

 

Exactly.  Kuwait claimed someone high up in their government died, it wasn’t going to happen and the following day, BOOM, they RI’d.  

Edited by JonnyV
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I think you can forget an RV/RI presently. It was stated the CBI is corrupt and this Alak is also corrupt & been corrupt. I said this several years ago that this CBI Governor  Alak was corrupt so looks like after several years ago he still is corrupt he has been put in place originally by Maliki and we all know how corrupt Maliki is in Iraq. He doing everything that Maliki ask him for as a puppet for Iran. As I said don't know how they can go RV/RI presently with a corrupt CBI & Corrupt Governor.

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3 hours ago, Laid Back said:

Maybe between 2025-2030 if we are lucky.


Still waiting for 

HCL

Art 140

WTO

Banking Reforms 

Census 

Salary scale Law

Fight against Corruption in the dollar auction 

Investment Law

New CBI building 

 

Seat back and relax, still some work to do.

 

The only thing that concerns me is Iraq not complying or getting a grip on doing what they need to do keep the U.S sanctions off that could potentially hurt them from participating in the western markets. The other stuff won't stop them adding value. 

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14 hours ago, Archer101 said:

“There will not be a move to reduce the dollar exchange rate at the present time.”  How many times have we seen the words “soon” or “in the near future”?  That has never been a reliable estimate.  Are we to believe “present time” is all of the sudden an accurate timeline?  Thoughts?

This just tells me that it could be soon or in the near future 

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10 hours ago, JonnyV said:

 

I was thinking the same thing.

 

 

Exactly.  Kuwait claimed someone high up in their government died, it wasn’t going to happen and the following day, BOOM, they RI’d.  

Yep smoke and mirrors denial is obvious response…believe nothing of what they say 

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Screwball could it be all the negative info they publishing their thinking is the world holders of dinar will sell off their dinars sooner than after any RV/Ri of dinars. Seems strange with all the good news we had now they taking the negative news as a way to discourage us of holding onto the dinars

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21 hours ago, edbeach said:

I think you can forget an RV/RI presently. It was stated the CBI is corrupt and this Alak is also corrupt & been corrupt. I said this several years ago that this CBI Governor  Alak was corrupt so looks like after several years ago he still is corrupt he has been put in place originally by Maliki and we all know how corrupt Maliki is in Iraq. He doing everything that Maliki ask him for as a puppet for Iran. As I said don't know how they can go RV/RI presently with a corrupt CBI & Corrupt Governor.

 

I agree with you and would add bankers won't want to take the risk right now if another war kicks off in the ME. Too risky!

 

They like calmer times to rob you.

 

Maliki, now, he is a whole other subsidiary, likely trapped by Iran and has no choice but to go all in whenever he is directed.

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1 hour ago, bkeiller said:

 

I agree with you and would add bankers won't want to take the risk right now if another war kicks off in the ME. Too risky!

 

They like calmer times to rob you.

 

Maliki, now, he is a whole other subsidiary, likely trapped by Iran and has no choice but to go all in whenever he is directed.

Ya like when he was Prime Minister and ISS was attacking and he told his solders to put down their guns and run. What an A$$hole he is 

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17 hours ago, edbeach said:

Screwball could it be all the negative info they publishing their thinking is the world holders of dinar will sell off their dinars sooner than after any RV/Ri of dinars. Seems strange with all the good news we had now they taking the negative news as a way to discourage us of holding onto the dinars

100%

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