"Tidbits From TNT" Wednesday Morning 12-7-2022
TNT:
Tishwash: Local money changers stop buying and selling the dollar in Iraq
A source said, today, Wednesday, that the sale and purchase of the dollar in the Iraqi local money exchanges has stopped.
The source told (Iraqi Media News Agency / INA) that "the local money changers have stopped buying and selling the dollar, due to the instability of the dollar's exchange rates on the Iraqi stock market."
It is noteworthy that the selling prices of the dollar were recorded yesterday, 149,600 dinars per 100 dollars, while the buying prices of the dollar were recorded at 149,500 dinars per 100 dollars.
Today, the selling prices of the dollar were recorded at 150,400 dinars per 100 dollars, while the buying prices of the dollar were recorded at 150,250 dinars per 100 dollars. link
TP40: how are we looking on the changes in the rate.. do you think there will be a change later this week or early next week as Tony mentioned?
Yada: Tp40, the article on Monday stated end of this week.
Pearle: Am I the only one that thinks purchasing currency, delays the RV
Yada: The sellers of the currency sit and what what the governments do so they just provide a service. And after the RI of the dinar, they will continue to sell but at higher rates and I would imagine their sales will decrease.
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Tishwash: The Central Bank and the International Monetary Fund are discussing bilateral cooperation
Today, Wednesday, the Central Bank of Iraq discussed with the International Monetary Fund mission aspects of bilateral cooperation and its development.
The media office of the Central Bank stated, in a statement received by the Iraqi News Agency (INA), that "the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, received the Minister of Finance, Taif Sami, and the International Monetary Fund mission that is currently visiting the capital, Baghdad."
He added, "During the meeting, the main policy challenges and aspects of bilateral cooperation were discussed and developed in a way that serves the banking and economic sector in Iraq, as well as enhancing financial stability."
It is noteworthy that the Central Bank of Iraq will host on Wednesday and Thursday the meetings of the International Monetary Fund mission in the capital, Baghdad, with the participation of the Ministry of Finance and representatives of the Ministries of Planning, Electricity, Labor, Water Resources and the Environment link
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Tishwash: Economist: The government should control the exchange rate of the hard currency. The poor are the victims
The expert in economic affairs, Malath Al-Amin, stressed the importance of the concerned and governmental authorities controlling the exchange rate of the hard currency, stressing that the rise of the US dollar will negatively affect the poor classes of Iraqi society.
Al-Amin said in a statement to the Iraqi National News Agency ( NINA ) that the Iraqi market depends mainly on imported goods after the deterioration of the productive sector - agricultural and industrial - so that Iraq has become a popular market for foreign goods. Indeed, the countries of East Asia and Turkey have established factories that export their production to Iraq in particular, and they have also determined the expansion of their exports. Iraq as an important main source for the development of its economy.
He added, "Political factors play an important role in making Iraq a consumer and non-productive country, as it eats what is grown and produced in other countries, which exposes the Iraqi economy to major imbalances in the event of any major event occurring in the exporting countries, or exposing shipping lanes to security risks, which requires Officials should direct attention to restoring Iraq to its former state by relying on what it produces in large quantities and rationing imports.
He pointed out, "The increase in import means an increase in the quantities of hard currency leaving the country, which increases the amount of demand for it, which leads to an increase in its price and thus a rise in the prices of imported materials, or what is called a rise in the market."
And between "the source of hard currency in Iraq is oil exports. The greater the amount of oil exports, the greater the amount of hard money entering Iraq, which leads to an increase in the value of the Iraqi dinar against the dollar and cheap prices ... However, this matter will not last long, given the control of traders in the market with the intent to obtain On more profits, they are not interested in the poor who may not be able to get their daily bread.
He continued, "The government should take measures to protect the poor class by controlling the exchange rate of the hard currency or by finding a financial mechanism to support the poor classes by supporting the social protection network, and the rise in the value of the Iraqi currency against foreign currencies has a great impact on the poor class, which will benefit." From the decrease in the price of imported materials, including basic foodstuffs link
Mot: Putting Your Job into Perspective fer Sure! ~~~~
Mot: So embarrassing for the park service to install this sign backwards b
