STATUS OF THE RV ,PART. 2
Here are a couple articles in the news today that you can reference. Each article can be found in full in the Articles Section of today’s Newsletter. Here are some recaps of the news for your convenience:
☹“AMERICAN EYES LOOK AT “RAFIDAIN BANK”.. SMUGGLING DOLLARS TO IRAN MAY LEAD TO SANCTIONS AND “ECONOMIC COLLAPSE”
“American eyes are turning towards the government-owned Rafidain Bank and demanding that sanctions be imposed on it, describing it as a “window for smuggling dollars to Iran,” while politicians and academics do not view the matter with optimism, especially since any impact on the bank will cause financial tensions within Iraq, as it is one of the most important government banks.”
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☹“COMPLEX NETWORKS AND METHODS OF SMUGGLING DOLLARS FROM IRAQ TO IRAN.. AMERICAN REPORT REVEALS THE DETAILS”
An American report stated that Numbers Massive Central Bank Auctions Iraqi In selling hard currency, it raises doubts and concerns about the possibility of smuggling a large part of the currency to Iran. US President Donald Trump signed a presidential memorandum on Wednesday to take immediate action by federal agencies to prevent Iran from using the financial system Iraqi.
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☹“CONTROVERSY OVER THE DOLLAR IN IRAQ.. EXPECTATIONS OF A PRICE INCREASE AND THE GOVERNMENT REASSURES!”
The exchange rate is volatile and the dollar is rising against the dinar, which is putting the Iraqi economy in great challenges, raising fears of a possible financial crisis. stressing the need for urgent reforms to ensure the sustainability of the economy.
The advisor to the Iraqi Prime Minister, Dr. Mazhar Muhammad Salih, said that “the government is not currently considering amending the exchange rate equation or what is known as “monetary adjustment”, denying the speculations circulating in this regard.
Salih pointed out that “this stability is due to the strong foreign reserves possessed by the Central Bank of Iraq, as the dollar coverage rate for the dinar exceeds 100%, which contributes to controlling the financial market and reducing the impact of the black market for the currency,
despite the price difference that reaches about 13% from the official price.” (So the CBI has not yet controlled the black market even though the correspondent banks are now conducting the transfers for outside trade as of Dec 31st 2024.)
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