Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

Report How much is the Iraqi dinar? Sk come on the remainder of the local currency? DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Report How much is the Iraqi dinar? Sk come on the remainder of the local currency?

Go down

Report How much is the Iraqi dinar? Sk come on the remainder of the local currency? Empty Report How much is the Iraqi dinar? Sk come on the remainder of the local currency?

Post by claud39 on Tue Apr 14, 2020 3:04 pm

Report How much is the Iraqi dinar? Sk come on the remainder of the local currency?



Tuesday, 14 April 2020 


Report How much is the Iraqi dinar? Sk come on the remainder of the local currency? 5201919154514286076663



Observers: Iraq is the second largest country in the production of oil by about 4.5 million barrels per day and the poorest country in the organization


at the height of the political crisis that entered Iraq and lasted for months, Iraq was and remains the No. 2 source in OPEC with daily production of 4.5 million barrels of oil An awful number, and yet Iraq remains a poor country and its citizens still live in poverty ?!

 The only reason is that the will of corruption within the Iraqi state is greater than the will to change, reform and progress, and after the winds of Corona blew, the Iraqi dinar was in the face of the storm and amid expectations of a severe collapse in its value in front of the dollar. His homeland ..

According to several reports, turmoil in the Iraqi dinar exchange rate Against the dollar in recent times to negative effects, which directly affected the business sector and commodities in the markets, which led to the loss of confidence of dealers and investors in the monetary authority. The dinar collapsed after the central bank stopped its activities related to pumping liquidity in foreign exchange to meet the needs of banks and their customers, as it was pumping an average of $ 140 million or more per day to maintain the value of the currency and support its stability, and stopping the pumping of liquidity led to a jump in the exchange rate of one dollar from 1200 To 1,280 Iraqi dinars, amid warnings of the continuation of this rise due to the curfew imposed by the authorities as part of measures to confront the outbreak of the Corona epidemic.

In the midst of the financial crisis experienced by the world in general and Iraq in particular in light of the collapse of oil prices and the large deficit in the budget for 2020, the government faces great economic challenges, most notably the difficulty that the central bank can maintain the value of the dinar against the dollar because of the corrupt control of the auction of selling currency, according to What officials and economists see.

An official in the caretaker government stressed that the central bank cannot maintain the value of the Iraqi dinar against the dollar by continuing to pump the hard currency to the market, due to the lack of public revenues due to weak demand for oil with a decline in its price, noting that "the central bank will have to legalize Selling the currency for a certain period until oil prices rise again. And Iraq, the second largest producer of crude oil in the Organization of Petroleum Exporting Countries (OPEC), with an average daily production of 4.5 million barrels per day.


He added that continuing to hold auctions to sell currency and pumping tens of millions of dollars per day to maintain the value of the dinar leads to great risks for the country's economy, and it is better for the central bank to cancel the currency auction and install its local currency, since most of the beneficiaries of these auctions are not businessmen and traders, but rather Banks, banks and private sector companies dominating the market, a large part of which was diverted from outside Iraq. He pointed out that the central bank has succeeded in recent years in achieving the stability of the dinar exchange rate and improving it in relation to the dollar and other currencies by stabilizing the price of the local currency and defending it, but the current collapse in oil prices, and consequently, the country's financial returns are completely different from the crises of past years.


The central bank sells between 140 and 160 million dollars to public and private companies and banks, as part of a plan adopted since 2004 to control the exchange rate of the dinar and prevent its collapse in the market. The central bank only allows companies and limited banks to enter the auction and buy dollars, amounting to less than 50 banks and financial companies that are licensed by the central bank, all of which are private or private.

The professor of international economic relations at the Iraqi University, Abdul Rahman Al-Mashhadani, said that canceling the currency auction is very difficult, since the goal of the currency window is to finance imports in the private sector. According to Al-Mashhadani, 90% of the country's consumer needs are secured by import by the private sector, which means that canceling the currency auction will lead to a major disruption in the prices of imported goods. 


Al-Mashhadani stressed that the currency auction is a drain on foreign exchange due to its association with prominent political figures, pointing out that 15% of Central Bank sales through the auction go as money laundering in various ways and methods and are transferred outside of Iraq.

He pointed out that the best way for the central bank to follow is to legalize the sale of hard currency as much as possible to maintain the value of the dinar and foreign exchange reserves.

And at the end of March 2020, the rapporteur of the Parliamentary Finance Committee, Ahmed Al-Saffar, said that the central bank reserves amounted to 87 billion dollars, and not only includes cash and foreign currency but also gold bars.

Observers point out that unless serious economic policies are taken and income sources are diversified and oil is not relied only, the dinar will pay a heavy price, and the Iraqi citizen will pay the most invoice of his nutritional and medical needs.

Which



https://www.thebaghdadpost.com/ar/Story/193368/%D8%AA%D9%82%D8%B1%D9%8A%D8%B1-%D9%83%D9%85-%D9%8A%D8%B3%D8%A7%D9%88%D9%8A-%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A-%D9%83%D9%88%D8%B1%D9%88%D9%86%D8%A7-%D8%AA%D8%A3%D8%AA%D9%8A-%D8%B9%D9%84%D9%89-%D9%85%D8%A7-%D8%AA%D8%A8%D9%82%D9%89-%D9%85%D9%86-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A%D8%A9
claud39
claud39
VIP NewsHound
VIP NewsHound

Posts : 16081
Join date : 2018-11-04

View user profile

Back to top Go down

Report How much is the Iraqi dinar? Sk come on the remainder of the local currency? Empty The Iraqi dinar is falling apart: Corruption and Corona are jumping in dollars

Post by claud39 on Tue Apr 14, 2020 3:32 pm

The Iraqi dinar is falling apart: Corruption and Corona are jumping in dollars


9 Hours Ago


Report How much is the Iraqi dinar? Sk come on the remainder of the local currency? 368-2-3-341x341



The turmoil in the Iraqi dinar exchange rate against the dollar recently led to negative effects, which directly affected the business sector and commodities in the markets, which led to the loss of confidence of dealers and investors in the monetary authority.

The decline of the dinar came after the Central Bank of Iraq stopped its activities related to pumping liquidity in foreign exchange to meet the needs of banks and their customers, as it was pumping an average of 140 million dollars or more per day to maintain the value of the currency and support its stability, and stopping the pumping of liquidity led to a jump in the exchange rate of one dollar from 1200 to 1280 Iraqi dinars, amid warnings of the continuation of this rise due to the curfew imposed by the authorities as part of the procedures to face the outbreak of the Corona epidemic.

In the midst of the financial crisis experienced by the world in general and Iraq in particular in light of the collapse of oil prices and the large deficit in the budget for 2020, the government faces great economic challenges, most notably the difficulty that the central bank can maintain the value of the dinar against the dollar because of the corrupt control of the auction of selling currency, according to What officials and economists see.

In an interview with "The New Arab," an official in the caretaker government said that "the central bank cannot maintain the value of the Iraqi dinar against the dollar by continuing to pump the hard currency to the market, because of the lack of public revenues due to weak demand for oil and the decline in its price." That "the central bank will have to legalize the sale of the currency for a certain period until oil prices rise again."

And Iraq, the second largest producer of crude oil in the Organization of Petroleum Exporting Countries (OPEC), with an average daily production of 4.5 million barrels per day.

The official, who preferred to remain anonymous, added that "continuing to hold auctions to sell currency and pump tens of millions of dollars per day to preserve the value of the dinar leads to great risks for the country's economy, and it is better for the central bank to cancel the currency auction and install its local currency, since most of the beneficiaries are Of these auctions are not businessmen and traders, but banks, banks and private sector companies dominating the market, a large part of which has been transferred out of Iraq.

He pointed out that the central bank has succeeded in recent years in achieving the stability of the dinar exchange rate and improving it in relation to the dollar and other currencies by stabilizing the price of the local currency and defending it, but the current collapse in oil prices, and consequently, the country's financial returns are completely different from the crises of past years.

According to the official, "There are daily discussions to reach a road map that enables the country to maintain an acceptable exchange secret of the dinar against the dollar."

The central bank sells between 140 and 160 million dollars to public and private companies and banks, as part of a plan adopted since 2004 to control the exchange rate of the dinar and prevent its collapse in the market. The central bank only allows companies and limited banks to enter the auction and buy dollars, amounting to less than 50 banks and financial companies that are licensed by the central bank, all of which are private or private.

For his part, Professor of International Economic Relations at the Iraqi University, Abdul Rahman Al-Mashhadani, said in an interview with "The New Arab" that "canceling the currency auction is very difficult, because the goal of the currency window is to finance imports in the private sector."

According to Al-Mashhadani, 90% of the country's consumer needs are secured by import by the private sector, which means that canceling the currency auction will lead to a major disruption in the prices of imported goods.

Al-Mashhadani stressed that "the currency auction is a drain on foreign exchange due to its association with prominent political figures,pointing out that 15% of Central Bank sales through the auction go as money laundering in various ways and methods and are transferred outside of Iraq.

He pointed out that the best way for the central bank to follow is to legalize the sale of hard currency as much as possible to maintain the value of the dinar and foreign exchange reserves.

For its part, Ayat Muzaffar, a member of the Iraqi parliament from the "victory" coalition led by former Prime Minister Haider al-Abadi, attributed the causes of the economic collapse and the value of the dinar against the dollar to the wrong financial policies pursued by the Adel Abdul-Mahdi government.

Muzaffar said, in an interview with the "New Arab", that "bad management and fiscal policy floundering the head of the caretaker government, Adel Abdul Mahdi, and its indiscriminate spending on the state budget, is one of the main reasons that led to the economic collapse of Iraq, and to an unprecedented financial deficit is expected to It is, if the oil price continues to decline, about 80 trillion dinars.

She explained a member of the Iraqi parliament that the central bank spent a large part of the cash reserve for the purpose of stabilizing the dinar price against the dollar, which led to the depletion of the cash reserve, and then the central bank will lose over time its ability to maintain the par value of the dinar.

She added that "the government’s flop seemed clear when the head of the crisis cell talked about the possibility of Iraq resorting to printing the currency." An easy amount until there are surplus sums that increase the demand for goods and services, so that the producers increase the production.

As for the other reason, according to Muzaffar, the printed currency must be equal to the national product, while stressing the need to preserve the monetary reserve of the central bank through its reliance on a flexible policy that takes into account the emerging political and economic conditions of the country.

And at the end of last March, the rapporteur of the Parliamentary Finance Committee, Ahmed Al-Saffar, said that "the central bank reserves reached 87 billion dollars, and it does not include cash and foreign currency only, but it includes gold bars."
Ammar Hamid

New Arab




https://rawabetcenter.com/archives/107762



https://www.dinardaily.net/t92031-follow-up-cell-the-government-may-resort-to-borrowing-and-printing-currency-to-provide-salaries
claud39
claud39
VIP NewsHound
VIP NewsHound

Posts : 16081
Join date : 2018-11-04

View user profile

Back to top Go down

Report How much is the Iraqi dinar? Sk come on the remainder of the local currency? Empty Citizens: Prices are at their normal levels

Post by claud39 on Wed Apr 15, 2020 1:39 pm

[size=36][rtl]Citizens: Prices are at their normal levels[/rtl][/size]

Tuesday 14 April 2020


Report How much is the Iraqi dinar? Sk come on the remainder of the local currency? Alsabaah-34689


Baghdad / Farah Al-Khaffaf
 


Despite stopping the import of hundreds of products about a month ago, the markets have not witnessed a clear impact, as happens in countries that are advanced, if hundreds of tons of various foodstuffs and vegetables enter daily in Baghdad and the provinces.

The Baghdad Operations Command confirmed the entry of 14,749 wheels carrying foodstuffs to the capital from the beginning of the curfew until now, in cooperation with the Baghdad Chamber of Commerce.

The economist Thamer Al-Azzawi said in a statement to "Al-Sabah": "Wholesale centers and others have managed to meet the needs of the market so far."
 
Animal Production

He added that "the ministries of agriculture and trade succeeded during the period of imposing the embargo in building bridges of trust between farmers and animal production companies, traders and citizens."

However, he pointed out that "many imported products are beginning to shrink in the markets, calling the crisis cell with the exception and support of factory owners and workers to fill the void." Citizens assert that "the prices of food and vegetables have not risen well above their rates and the permissible limit."
 
Necessary needs

They told Al-Sabah: “When we hear the news and call our relatives in some Arab and Western countries as they talk about food shortages, we thank God, especially since most of the necessary and basic needs are available.”

They stressed "the importance of expediting the disbursement of the emergency grant that the government launched an application for, especially with hundreds of thousands of citizens being affected by the curfew."

In this regard, Minister of Agriculture Saleh Al-Hassani said: "The increase in prices is due to the weak souls of sellers in the markets and we ask the economic security to monitor prices."

Amid this picture, the Baghdad Chamber of Commerce revealed proposals to address the problems that dealers suffer from due to the current situation.

Commercial traffic

Director of the Supervision and Follow-up Department at the Baghdad Chamber of Commerce Omar Al-Sudani said: “The Chamber presented the traders’ proposals to the Prime Minister regarding the problems that represent a challenge to the commercial movement. ”He pointed out that“ the most prominent of these proposals is to solve the issue of selling the dollar by selling it directly to traders. ” And, as well as facilitating the entry of foodstuffs to all commercial areas through control, without any obstacles. "

Al-Sudani indicated that "the Baghdad Chamber of Commerce went to the local markets and followed all the prices, and what was going on in the stores. Weaknesses, problems, and shortcomings were diagnosed within the stores," noting that "the room listened to all the merchants, and was briefed on their most prominent problems."

Enter the trucks

He added that "the problems of the merchants lie in the entry of foodstuffs through the checkpoints to the commercial areas in Baghdad, as well as the sale of the dollar exchange from the central bank, which led to the rise in exchange rates," stopping that "the Baghdad Chamber of Commerce transferred these problems to the prime minister, and I spoke to People involved".

He continued, "The prime minister promised that in the coming days, the dollar will be sold directly to the merchant and to all exchange offices and private banks, in addition to facilitating the movement of trucks entering the transport of materials. 


Food. "



claud39
claud39
VIP NewsHound
VIP NewsHound

Posts : 16081
Join date : 2018-11-04

View user profile

Back to top Go down

Report How much is the Iraqi dinar? Sk come on the remainder of the local currency? Empty Re: Report How much is the Iraqi dinar? Sk come on the remainder of the local currency?

Post by claud39 on Wed Apr 15, 2020 1:42 pm

@claud39 wrote:

[size=36][rtl]Citizens: Prices are at their normal levels[/rtl][/size]



Tuesday 14 April 2020


Report How much is the Iraqi dinar? Sk come on the remainder of the local currency? Alsabaah-34689


Baghdad / Farah Al-Khaffaf
 


Despite stopping the import of hundreds of products about a month ago, the markets have not witnessed a clear impact, as happens in countries that are advanced, if hundreds of tons of various foodstuffs and vegetables enter daily in Baghdad and the provinces.
The Baghdad Operations Command confirmed the entry of 14,749 wheels carrying foodstuffs to the capital from the beginning of the curfew until now, in cooperation with the Baghdad Chamber of Commerce.
The economist Thamer Al-Azzawi said in a statement to "Al-Sabah": "Wholesale centers and others have managed to meet the needs of the market so far."
 
Animal Production
He added that "the ministries of agriculture and trade succeeded during the period of imposing the embargo in building bridges of trust between farmers and animal production companies, traders and citizens."
However, he pointed out that "many imported products are beginning to shrink in the markets, calling the crisis cell with the exception and support of factory owners and workers to fill the void." Citizens assert that "the prices of food and vegetables have not risen well above their rates and the permissible limit."
 
Necessary needs
They told Al-Sabah: “When we hear the news and call our relatives in some Arab and Western countries as they talk about food shortages, we thank God, especially since most of the necessary and basic needs are available.”
They stressed "the importance of expediting the disbursement of the emergency grant that the government launched an application for, especially with hundreds of thousands of citizens being affected by the curfew."
In this regard, Minister of Agriculture Saleh Al-Hassani said: "The increase in prices is due to the weak souls of sellers in the markets and we ask the economic security to monitor prices."
Amid this picture, the Baghdad Chamber of Commerce revealed proposals to address the problems that dealers suffer from due to the current situation.
Commercial traffic
Director of the Supervision and Follow-up Department at the Baghdad Chamber of Commerce Omar Al-Sudani said: “The Chamber presented the traders’ proposals to the Prime Minister regarding the problems that represent a challenge to the commercial movement. ”He pointed out that“ the most prominent of these proposals is to solve the issue of selling the dollar by selling it directly to traders. ” And, as well as facilitating the entry of foodstuffs to all commercial areas through control, without any obstacles. "
Al-Sudani indicated that "the Baghdad Chamber of Commerce went to the local markets and followed all the prices, and what was going on in the stores. Weaknesses, problems, and shortcomings were diagnosed within the stores," noting that "the room listened to all the merchants, and was briefed on their most prominent problems."
Enter the trucks
He added that "the problems of the merchants lie in the entry of foodstuffs through the checkpoints to the commercial areas in Baghdad, as well as the sale of the dollar exchange from the central bank, which led to the rise in exchange rates," stopping that "the Baghdad Chamber of Commerce transferred these problems to the prime minister, and I spoke to People involved".

He continued, "The prime minister promised that in the coming days, the dollar will be sold directly to the merchant and to all exchange offices and private banks, in addition to facilitating the movement of trucks entering the transport of materials. 


Food. "




He continued, "The prime minister promised that in the coming days, the dollar will be sold directly to the merchant and to all exchange offices and private banks


that in the coming days


Claud (Moose)
claud39
claud39
VIP NewsHound
VIP NewsHound

Posts : 16081
Join date : 2018-11-04

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum