More News, Rumors and Opinions Monday Afternoon 12-5-2022
KTFA:
Clare: Government official: The exchange rate of the dollar will decrease and its impact will be after a week
2022-12-05
A government official confirmed, on Monday, that the exchange rates of the US dollar against the Iraqi dinar will decrease with the Central Bank's decision to increase the weekly share of banks, exchange and mediation companies, pointing out that the decline will have an impact next week.
The official, who preferred not to mention his name and position, added that "the bank's decision came to reduce the gap between the central bank rate and the dollar price in the local markets or what is known as the black market," expecting "the dollar's decline to its previous levels, which were around 147 thousand dinars compared to 100 dinars." dollar".
Yesterday, Sunday, the Central Bank of Iraq decided to increase the share of banks, exchange and financial mediation companies from the dollar, in order to reduce the price of the dollar in the local markets, after its rise yesterday, Sunday, to more than 150 thousand dinars, compared to 100 dollars.
And the bank stopped 14 banks from entering the auction after the US sanctions that it imposed on these banks as a result of smuggling the currency.
It is noteworthy that the Central Bank sells dollars in an auction that it organizes daily to banks and mediation companies in order to finance foreign trade and finance the internal market in dollars, but many economists and politicians indicated the existence of corruption in the central bank’s sales by smuggling hard currency abroad without finding solutions to that over the years. these years. LINK
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Clare: Association of Banks: Central Bank measures will return dollar prices to their rates quickly
12/05/2022
The Iraqi Private Banks Association announced, on Monday, that the Central Bank's measures to increase the supply of dollars through its approved outlets will lead to a return of exchange rates to their rates quickly.
"The economic and political conditions and their repercussions negatively affect stability in the monetary system and the financial system, and thus this will lead to economic instability and market confusion," the association's advisor, Samir Al-Nusairi, said in a statement.
Al-Nusairi added, "Several days ago, a new wave of criticism began from some media outlets affected by rumors launched and driven by speculators in the currency exchange market with the aim of creating a state of confusion and instability and trying to drag the money market into instability and thwarting the central bank's plans to control the target rates for the exchange rate." The exchange rate, which has remained stable since its adjustment to the new rates of finance, banks and the public.
He pointed out that "speculators took advantage of the decline in dollar sales in the window for selling foreign currency, which the central bank clarified in a statement last week that the reason is the application of a new electronic platform to control external transfers similar to the letters of guarantee platform currently implemented," noting that "given the lack of sufficient preparation For local banks, with the start of the trial application of the platform, part of the foreign transfers were postponed, which resulted in a decrease in the volume of sales of the foreign currency sale window.
And he emphasized that “another rumor is that the central bank will make a new change to the current price,” explaining that “the central bank has repeatedly announced that there is no intention to change the price at present and explained the negative effects of any change in the price on the national economy, trade exchanges, and local and foreign banking dealings with countries.” the scientist".
And he continued, “The exchange rate is determined by the central bank according to the effects and repercussions of the economic reality in a country like Iraq that suffers from challenges, repercussions, economic and financial crises, and a structural and systematic imbalance in managing the economy and money. Monetary, but this cannot be achieved without joint coordination with fiscal policy and other economic sectors, activating the real economy, diversifying sources of national income, and leaving the unilateral economy relying on oil as a main resource that constitutes 93% of the general budget revenues and 57% of the gross domestic product.
And he stressed that "those who criticize the central bank must be aware that its measures announced yesterday by increasing the supply of dollars through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly." LINK
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Courtesy of Dinar Guru
Frank26 Article: "Starting tomorrow... the Central Bank of Iraq is moving to reduce the price of the dollar (document)" THE CBI SAID THERE WILL BE GRADUAL DECREASES TO THE DOLLAR EXCHANGE RATE.
Clare Article: "Starting tomorrow... the Central Bank of Iraq is moving to reduce the price of the dollar (document)" Quote: "The Central Bank of Iraq decided, on Sunday, to increase the weekly sales of the US dollar in the currency auction, in an attempt to restore the exchange rate to its previous state."
BRICS Secretly Created New Currency To Crash World Economy! - Peter Schiff
Mr. Blue: 12-5-2022
BRICS is planning a new world currency to replace the U.S Dollars. Is gold standard the new global currency, is this the end of U.S dollars ? China and its growing economy explained by Jim Rickards. China is doing something against the US dollars and how it will impact the US economy and stock markets.
ALERT! $5,000/oz Silver is COMING!! Just Have to END the Criminal Control of HUMANITY!!
(Bix Weir): 12-5-2022
99% of Silver Investors...including the "Professional Commodity Analysts & Brokers" are saying that Silver will rise over 50% in 2023!
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