The Iraqi dinar is stable and the currencies of regional countries are falling ... Why ??
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
The Iraqi dinar is stable and the currencies of regional countries are falling ... Why ??
The Iraqi dinar is stable and the currencies of regional countries are falling ... Why ??
20/08/2020

And since all countries of the world have been going through two economic and epidemic crises for ten months due to the global drop in oil prices, economic stagnation and slowing economic growth due to the Corona pandemic.
And that the above conditions suffered from Iraq and neighboring regional countries such as Iran, Turkey, Lebanon and Syria, in addition to the economic, political and security conditions and challenges that all these countries shared with Iraq in. One of the results of this was the devouring of the US dollar for the local currencies of the above regional countries and their collapse in very large proportions, for example. The currencies decreased against the dollar, so the Turkish lira became 730 pounds per dollar, and in Iran one riyal corresponds to 0.000024 dollars, the Lebanese pound 8,500 pounds, and the Syrian pound 2,250 pounds against the dollar, while the exchange rate of the Iraqi dinar has fallen within its rates for the past two years.
In order not to take the expectations of media exaggeration and create a state of fear among the public and the banking sector. I assert, through an insightful economic and analytical view of the state of stability in the exchange rate of the dinar, and from a neutral and transparent point of view, we note that the independence and the high, rational and balanced wisdom of the central bank and the availability of foreign cash reserves at the rate and proportion Which determines its sufficiency to cover the cash mass in circulation and to cover imports as the foreign cash reserve is fully insured and Iraq ranks fourth in the Arab world, in
addition to the strength and recovery of the Iraqi dinar, and dealing responsibly and independently by the Central Bank
It will be overcome as the economic and security shocks that the Iraqi economy suffered during the previous years have been overcome. The Iraqi dinar will remain stable and maintain its purchasing power despite the challenges.
20/08/2020

Samir Al-Nasiri
Central banks in the countries of the world mainly aim to achieve economic stability by achieving stability in the monetary system and the financial system through its programs and strategies aimed at maintaining stability in the exchange of their local currencies against other foreign currencies and building sufficient foreign cash reserves to cover their local currency in circulation
according to special international standards issued by The International Monetary Fund also evaluates banks based on other criteria related to facing crises, challenges, economic, political and
security shocks, natural and epidemic disasters in their countries, controlling stable rates of inflation and interest rates, and applying compliance systems and rules, combating money laundering and financing terrorism internationally established.
according to special international standards issued by The International Monetary Fund also evaluates banks based on other criteria related to facing crises, challenges, economic, political and
security shocks, natural and epidemic disasters in their countries, controlling stable rates of inflation and interest rates, and applying compliance systems and rules, combating money laundering and financing terrorism internationally established.
And since all countries of the world have been going through two economic and epidemic crises for ten months due to the global drop in oil prices, economic stagnation and slowing economic growth due to the Corona pandemic.
And that the above conditions suffered from Iraq and neighboring regional countries such as Iran, Turkey, Lebanon and Syria, in addition to the economic, political and security conditions and challenges that all these countries shared with Iraq in. One of the results of this was the devouring of the US dollar for the local currencies of the above regional countries and their collapse in very large proportions, for example. The currencies decreased against the dollar, so the Turkish lira became 730 pounds per dollar, and in Iran one riyal corresponds to 0.000024 dollars, the Lebanese pound 8,500 pounds, and the Syrian pound 2,250 pounds against the dollar, while the exchange rate of the Iraqi dinar has fallen within its rates for the past two years.
So why was the exchange rate of the Iraqi dinar not affected except by a slight relative increase in the dollar exchange rate and a decrease in the purchasing power of the Iraqi dinar? In order for the economic analyzes to be accurate and non-extreme for the reality of monetary stability in Iraq and the effects of the new and expected economic and epidemic shock on the exchange rate of the Iraqi dinar, which has stabilized for more than two years and is still strong and stable, and will continue as well despite international and local political shocks.
In order not to take the expectations of media exaggeration and create a state of fear among the public and the banking sector. I assert, through an insightful economic and analytical view of the state of stability in the exchange rate of the dinar, and from a neutral and transparent point of view, we note that the independence and the high, rational and balanced wisdom of the central bank and the availability of foreign cash reserves at the rate and proportion Which determines its sufficiency to cover the cash mass in circulation and to cover imports as the foreign cash reserve is fully insured and Iraq ranks fourth in the Arab world, in
addition to the strength and recovery of the Iraqi dinar, and dealing responsibly and independently by the Central Bank
The applications of the monetary policy adopted by the Central Bank, which achieved stability in the exchange rate for more than two years, represent the real guarantees to protect the local currency from collapsing Q and to face this new shock.
It will be overcome as the economic and security shocks that the Iraqi economy suffered during the previous years have been overcome. The Iraqi dinar will remain stable and maintain its purchasing power despite the challenges.
* An economic and banking advisor
claud39- VIP NewsHound
- Posts : 17076
Join date : 2018-11-04
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
» Parliamentary Finance continues to discuss the budget and hosts the Tax Authority and the Office of Financial Supervision
» The Minister of Finance receives the Tunisian ambassador to Baghdad
» Cabinet approves allocation of 100 million dollars for acquiring Coronavirus vaccines
» TNT Bank Story #4001
» The Iraqi government comments on fears of a jump in the exchange rate of the dollar after the approval of the budget
» Countries and global institutions, including the G7, the EU, the @WorldBank and the IMF have pledged their support for the @IraqiGovt reform programme outlined in the White Paper for Economic Reform:
» Guru Pimpy: "That's also going to help them with the foreign currency reserves" 1/26/21
» Frank26: "the Iraqi citizens right now concerning the new small category notes and the new exchange rate because they know" 1/26/21
» Guru Petra: "the budget is done and we're just waiting on the rate" 1/26/21
» MilitiaMan: "the agreements made will be sorted through the new value added" 1/26/21
» Fleming Update: "The master plan was to start the Shotgun Liquidity release this Tues. 26 Jan" 1/26/21
» MarkZ: "Most of the folks I know will be in place today" 1/26/21
» Judy: "These were huge amounts of monies to down-stream Tier 1-4A & 4B exchanges" 1/26/21
» Mnt Goat News Brief - (Guru Portion Only) There is absolutely no news of any project to delete the zeros happening anytime soon. 1/26/21
» THE ARAB MONETARY FUND ANNOUNCES THE SIGNING OF A COOPERATION AGREEMENT WITH "GB MORGAN" BANK TO LAUNCH SETTLEMENT SERVICES IN US DOLLARS THROUGH THE "BUNA" PLATFORM FOR ARAB PAYMENTS
» Parliamentary Finance: The budget will be ready for voting mid next week
» Parliamentary Finance reveals the results of its meeting with the delegation of the regional government
» 3 new decisions from the Kurdistan International Bank
» The agenda for the parliament session tomorrow, Wednesday, includes the questioning of the governor of the Central Bank
» Al-Kazemi: We are going to create a healthy environment for the work of major investment companies in Iraq
» Budget 2021 ... a move to add `` huge '' revenues
» SDR - Special Drawing Rights added to CBI.iqebsite
» Parliamentary Finance reveals violations in the 2021 budget of the Financial Management Law
» Parliamentary Finance confirms the resolution of the budget debate by the end of this week
» Saleh: Iraq faces an arduous task to address the recession of the economy
» Planning: We have 44 committees regarding the specifications of the construction materials industry
» Footforward - The best is yet to come
» The exchange rate of the dollar against the Iraqi dinar in the local markets today
» Judy Update claiming -- Wed. 27 Jan. was the date of the Global Currency Reset, at which time the general public Tier 5 would be able to exchanging foreign currencies at their new international rates.
» NICK FLEMING UPDATE, filled with dragons and lies
» COFFEE WITH MARKZ - Video and Transcript -- Jan-25 2021
» MarkZ claims -- I am not hearing any change on rates…could those high rates be reflective of the weakening of the US dollar? Yes- that is a possibility.
» Pimpy says it could be 3 more years before the IQD RV
» MilitiaMan says -- they are ceasing the Multi Currency Practices... 0 cash sales. A key indicator change is coming.
» Al-Halbousi and the Emir of Kuwait discuss activating the joint governmental and parliamentary committees between the two countries
» The International Development Bank announces its joining the "Bani" platform
» Source: The IMF knows very well that the Minister of Finance has lost the confidence of the people and will not loan it again
» Kuwait and Iraq hold talks on regional and international developments
» New statement by the Minister of Planning on the exchange rate and the agreement with China and the Port of Fao