Iran seeks to get rid of the dominance of the US dollar through the Iraqi dinar
2023-07-08 04:56
Iran seeks to get rid of the dominance of the US dollar through the Iraqi dinarShafaq News/ The Iranian government is seeking to get rid of the dominance of the US dollar by using the Iraqi dinar in the trade exchange process between the two countries, according to what an Iranian official said today, Saturday.
He added that trading in the national currencies of different countries is one of the 13 goals of the government, adding that most countries in the world seek to break the American hegemony in their stock exchanges and the use of national currencies of countries can help speed up this process.
Turning to the Iranian-Iraqi relations, Al-Ishaq said: More than $10 billion in goods and services are exchanged annually between the two countries, which, if the trade system is applied with the national currencies of the two countries, can contribute to deepening these relations and establishing good trade.
The Iranian official referred to the problems of trade with the national currencies of the two countries and said that: balance in trade is very important in this new system; If Iraq imports more than Iran and pays all its debts in dinars, problems will arise in other Iranian stock exchanges, because we must be able to meet our needs with the dinars received.
He pointed out that the arrival of three million religious tourists to Iraq and the large number of health tourists from this country to Iran can help exchange dinars instead of dollars.
The head of the Iranian-Iraqi Joint Chamber of Commerce stressed that we should be able to reduce the dominance of the dollar by maximizing exchanges with the national currencies of the two countries, adding that the proposal made by this country is a system and Iran is following it and can help the two countries lift the American pressure on two states.
Regarding the 10% difference between the price of the dinar in the open market and the dinar of the bank, Al-Ishaq said that this will make Iran’s competitors more successful in the Iraqi market, and the necessary measures must be taken to solve this problem.
He stressed that the interaction between Iran and Iraq in this field could be an important measure that we can benefit from more through appropriate follow-up.
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The Iraqi Central Bank raises the share of travelers and banking companies from the dollar
2023-07-07 09:51
The Iraqi Central Bank raises the share of travelers and banking companies from the dollar Shafaq News/ The Central Bank of Iraq decided, on Thursday, to increase the monthly share of the dollar for citizens wishing to travel from the dollar, as well as the weekly share for exchange companies.
The bank stipulated that the electronic platform for cash sales (FITR) be approved exclusively to record the data of daily cash sales for travelers.
The share of the citizen wishing to travel was 10 thousand dollars, and it was reduced to two thousand dollars, to be increased now by one thousand dollars.
In another document addressed to the “B” exchange companies, the bank said, “It was decided to increase the ceiling of the weekly cash amount of dollars allocated to your companies to become $750,000 per week, as of next Sunday.”
And that the aim of this is “based on the objectives of this bank to achieve stability in the general level of prices and exchange rates and to meet the high demand for foreign currency in the local markets.”
The bank confirmed that the electronic platform for cash sale (FITR) will be used exclusively to record the data of daily cash sales received through the window.
It is likely that this new decision contributed to the decline in the price of the US dollar against the Iraqi dinar today on the Baghdad Stock Exchange, where it reached 14,722 dinars per 100 dollars, after it touched earlier 150 thousand dinars per 100 dollars.
