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Economist: The Window For Selling The Currency Ends In 2024, And The Central Bank Will Devote Itself To Supervision, 12 FEB

 Economist: The Window For Selling The Currency Ends In 2024, And The Central Bank Will Devote Itself To Supervision

Time: 02/12/2024 20:44:48 Read: 234 times  {Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Sheikhli, confirmed today, Monday, the end of the window for selling the currency during 2024, and the Central Bank will devote itself to supervision.

Al-Sheikhli said {to Al-Furat News} that: “The window for selling the currency is about to end during the year 2024, and cash sales are now few in relation to remittances, and there are more than 200 million dollars transferred for the purposes of importing goods from abroad according to the method of documentary credits, and this process excludes many problems.”

He added, "The Central Bank of Iraq decided to end the currency window process and adopt correspondent banks as an alternative. There will be a new mechanism to provide currency for transfers without returning to the currency window or the electronic platform." 

Al-Sheikhly believes, “This mechanism will save a lot of effort and external relations. Therefore, the Central Bank will devote itself to the role of supervision and auditing and not enhancing the balances. It will also absolve itself of responsibility for the import process according to its law.”

He added, "There will be more than one external correspondent bank in different currencies according to the trade imported from the source. This will eliminate the problems, the most prominent of which is the process of leakage of funds from the Central Bank and banks to prohibited parties."  LINK

"RV UPDATE" BY FRANK26, 12 FEB

 Frank26 

  [Alaska Bank Story]   

BANK INQUIRER:  I called  North Rim Bank, they didn't want to talk to me at all because they said I don't have an account.  They said I would have to wait 90 days after opening an account before I could even exchange.  We scratched that bank off the list.  Then I called The Credit Union One and Alaska USA Credit Union.  They told me neither one do exchanges.  

FRANK:  I suggest you need to go to a major bank ...Go to the state bank...

 BANK INQUIRER:  I called USAA Bank...they do not do foreign cash exchanges.  Then I went to Key Bank...They do foreign cash exchanges in the bank.  She looked up the currency and nothing shows yet...They do not have a De La Ru Machine they said they'd have to send it out.

CBI New Lower Notes & Coins is Coming!💣New Rate!?🤔Iraq Dinar RV Updates ...

Iraq Is Experiencing High Price Stability And The Decline Of Parallel Market Noise, 12 FEB

  Iraq Is Experiencing High Price Stability And The Decline Of Parallel Market Noise

Time: 02/12/2024 15:02:46 Read: 949 times  {Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq “is experiencing a state of price stability.”

Saleh told Al-Furat News Agency: “The country is experiencing a high state of stability at all price levels, whether in terms of the general level of prices and low inflation growth rates, or in terms of the broad influence of the central exchange market and the foreign currency window in stabilizing the commodity supply prices of goods imported into the country and integrating “The capabilities of the official central exchange market in providing broad financing to the private sector at the fixed exchange rate for foreign trade of 1,320 dinars per dollar.”

He pointed to "high flexibility, whether in applying compliance procedures or in methods of external transfer in various currencies, which has begun to affect the decline of the parallel market and reduce the level of price noise that it previously caused on price stability."   LINK

"RV UPDATE" BY PIMPY, 12 FEB

  Pimpy

  ...You don't need to go to a Redemption Center...I bank out of Wells Fargo.  I went in there, talked to my manager.  He said this if the exchange rate is very large and you end up making a lot of profit off it, 'All you got to do is call, let me know when you come in or just walk in, wave to me so I see you and tell me that you're coming to exchange your currency.  We will go ahead and run it through the machine to make sure it's not counterfeit...once we say it's all good we deposit it directly into your account.'  ...They don't ask for a receipt.  They don't ask where you got it from.  They don't ask you about any of that...

 I've been following the Vietnam dong closely.  With all these corruption cases going on, we're talking about several politicians being sent to jail or going to court.  With them cleaning up so much of their corruption I've really been paying attention to the markets and seeing if there's any news coming out about a possible change in exchange rate. I'm not saying it's going to happen but if these are the same people that's holding it down...hopefully they'll allow the exchange rate to increase...It's looking pretty good over there in Vietnam.  

Iraqi Dinar🔥 Bank Screens Showing Everything Today 2024🔥iraqi dinar rate...