Monday, August 5, 2024
Al-Alaq: The Central Reserve Is Sufficient To Create Market Balance, 5 AUGUST
Time: 08/04/2024 19:17:45 Read: 988 times {Economic: Al-Furat News} Central Bank Governor Ali Mohsen Al-Alaq confirmed today, Sunday, that the dollar’s financial reserve is sufficient to create a balance in the market.
A statement by the media department in the House of Representatives, a copy of which was received by {Al-Furat News} Agency today, stated that
“Iraq’s hard currency reserves are sufficient to create balance in the market,” noting that
“the
Central Bank sells more than 250 million dollars daily to meet the requirements of foreign trade.” The statement indicated that
"the Governor of the Central Bank provided a complete briefing on the reasons for the
fluctuation of the exchange rate, the
mechanism of operation of the electronic platform and
its role in controlling internal and external trade, as well as the file of the
housing initiative
, the
American sanctions on Iraqi banks, and the
status of the bank's cash reserve of hard currencies." "Central"
Al-Alaq pointed out, according to the statement, that “85% of remittances do not pass through the US Federal Reserve.” https://alforatnews.iq/news/العلاق-احتياطي-المركزي-يكفي-لخلق-توازن-السوق
"CBI "claiming" they won't change the rate. I'm taking this as good news" BY GINGER, 5 AUGUST
GINGER
💢 CBI "claiming" they won't change the rate. I'm taking this as good news.
Why? Because Kuwait said the same exact thing before they actually changed their Kuwaiti Dinar rate. Because I also recall China spending 80 Million dollars on ads projecting their future rate change for months away and then, surprisingly, they changed their rate rather quickly, instead.
They have to cloud the timing of this. It's necessary. Do not get discouraged by this announcement from the CBI. It could honestly be an intentional mislead like we saw with Kuwait and China years ago. 8.5.24
~ Ginger of the Liberty Lounge
Central Bank Governor: We Will Not Go To Reduce The Dollar Exchange Rate Now, 5 AUGUST
Time: 08/04/2024 15:22:32 Read: 2,860 times {Economic: Al-Furat News} Member of the Parliamentary Finance Committee, Ikhlas Al-Dulaimi, confirmed that the Governor of the Central Bank, Ali Al-Alaq, confirmed that
“there will no longer be a reduction in the dollar exchange rate.”
Al-Dulaimi said in a press statement that
“the price of the dollar has stabilized somewhat, and may rise and fall within certain limits,” indicating:
“We will not currently go to reduce the price of the dollar, as the Governor of the Central Bank said, given that there are other measures that have not been taken.” She warned that
"the security repercussions that occurred recently and the problems between Iran and America could have repercussions on some banks and the price of the dollar."
She explained that "the Ministry of Finance is demanding financing, and the matter has not yet been resolved, and it is one of the reasons for hosting the Governor of the Central Bank today, as there were answers and he will soon send other answers."
Today, Sunday, the Parliamentary Finance Committee hosted the Governor of the Central Bank to follow up on the
exchange rate file, the
Real Estate Bank initiative, the
auction file, and
financing foreign trade.
It is noteworthy that the exchange rate of the dollar in the parallel market is about 1,490 dinars, while the Central Bank of Iraq sells the dollar at the official price of 1,320 dinars. https://alforatnews.iq/news/محافظ-البنك-المركزي-لن-نذهب-الى-خفض-صرف-الدولار-حالياً
