Thursday, December 28, 2023
Coffee with MarkZ. 12/28/2023
The Dollar Exchange Rate Will Stabilize With The Broader Launch Of The Budget, 28 DEC
The Dollar Exchange Rate Will Stabilize With The Broader Launch Of The Budget
The first 12/28/2023 Baghdad: Shaima Rasheed The Parliamentary Finance Committee explained the decline in the dollar exchange rates against the Iraqi dinar to the citizen’s fear of the fluctuation occurring, which is related to the budget and the government’s spending of it after it stopped it before the local elections, while it considered the government’s shift towards electronic dealing at the beginning of next year to be a positive thing.
Committee member, Jamal Cougar, said in an interview with “Al-Sabah” that the dollar is supposed to witness a further decline when it is exchanged against the Iraqi dinar, especially with the start of greater budget disbursement, in addition to the government’s announcement of the direct implementation of the electronic system with the start of the new year, which will limit From financial dealings in dollars.
He added that the current exchange rate in the market is not real and that part of it is due to the fear of rise or fall because the real price is determined by the criterion of need, noting that we do not have a real ceiling for need, as part of it is speculation and the other is smuggling and others, and the real price remains unknown because there are no solid financial institutions that speak. About import and export.
Koger pointed out that the government did not spend the budget so that it would not be exploited in the local elections by parties and candidates at the time, calling on the government to start spending the budget more than it was spending in order for the market and exchange rate to stabilize.
Edited by: Adhraa Juma https://alsabaah.iq/89559-.html
IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 28 DEC
Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: We have a special on TV and they say the Iraqi dinar wins the struggle against the dollar and wins control of the markets…
FRANK: The goal of the last few weeks has been to bring the market rate parallel with the dollar rate. Remember the CBI can’t touch the dollar value but they can touch the value of your currency of the dinar…They have been victorious of reducing the value of their enemy foreign currency like the American dollar and all foreign currency in your country verses your national currency which is at 1310 right now. But that rate is now in a position to change because of all the success of the monetary reform from the CBI and Sudani. That’s all there is to it.
The black market rate will no longer be…The black market rate is the American dollar. The CBI wants the official rate 1310 to match the dollar rate. That means the currency of Iraq is too low… Slowly we’re having a reciprocal effect where the dollar is going down and the dinar is going up…
Question:
“Can any country RV their currency whenever they want?”
Yeah but they have to go through the IMF. That’s what the International Monetary Fund does – they regulate all the banks around the world and allow them to either increase, decrease, print new currency, destroy their currency, change their exchange rate. There is a systematic way of doing it. They’re called international banking laws.
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