AJ :." Wait for the announcement from Al-Sudani & CBI of the Lower Notes and rate" @DINARREVALUATION

 

Closing The Dollar Selling Platform...An American Directive That Raises Concerns About Market Stability And Rising Prices, 5 JAN

 Closing The Dollar Selling Platform...An American Directive That Raises Concerns About Market Stability And Rising Prices

 
    January 2 09:43  Information / Baghdad..  The Central Bank announced the closure of the dollar selling platform at the end of the fiscal year, a measure that comes within the ongoing directives by the US Treasury to tamper with the Iraqi economy.
 
However, this decision raises growing concerns about its potential impact on demand and dollar prices in the local market, especially in light of the current economic conditions.
 
Closing the platform is expected to lead to an increase in demand for the dollar in the parallel market, as many importers and traders rely on purchasing hard currency to meet their needs.
 
In the absence of the usual supply through the official platform, they may resort to alternative markets to obtain dollars, which leads to increased pressure on prices.
 
Economic observers point out that the rise in demand accompanied by a decline in  supply will inevitably lead to an increase in the price of the dollar against the dinar, and
 
this rise may be directly reflected in the prices of goods and services, which adds an additional burden on citizens, especially with the decline in purchasing power as a result of high inflation rates.

Regarding the issue, economic expert Safwan Qusay said in an interview with the Maalouma Agency,
 
“The Central Bank of Iraq announced the end of work on the electronic platform for banking transactions as of the beginning of the new year, after notifying all Iraqi banks of the cancellation decision early on.”  He added,
 
"13 Iraqi banks were able to adapt to this change, as
 
they expanded their dealings with real merchants, bringing the percentage of transfers and credits made through direct relationships between Iraqi banks and supplier banks to more than 95%."  He stated that
 
"these operations are carried out in accordance with strict compliance standards that ensure knowledge of suppliers and payment mechanisms." He continued by saying,
 
"For 5% of the transfers that were made through the electronic platform, merchants wishing to continue import operations at the official price can open bank accounts within these banks." He pointed out that
 
"the  Central Bank issued a circular dated September 30 last year allowing merchants to import directly after opening bank accounts, without the need for a waiting period that previously extended to six months." He explained,
 
"The market may witness some fluctuations, but he ruled out the possibility of achieving large profits from importing irregular goods, in light of the Iraqi economy, which relies heavily on the dollar and its high value globally." He pointed out that
 
"the Iraqi economy will not face major fears as a result of this change, stressing the importance of adhering to banking procedures to ensure market stability and facilitate import operations."
 
Closing the dollar selling platform may be a technical measure linked to the end of the fiscal year, but it raises economic and social challenges that must be treated with caution.
 
Maintaining market stability and the exchange rate requires effective coordination between the central bank and the government, while developing proactive plans to avoid worsening the economic crisis. Ended 25/S    
  
https://almaalomah.me/news/87024/economy/إغلاق-منصة-بيع-الدولار-توجيه-أميركي-يثير-المخاوف-بشأن-استقرا 

MARKZ: Where will the new rate show first? , 5 JAN

 MarkZ 

  [via PDK]  

 Question:  Where will the new rate show first? 

 MarkZ:  If it follows in Kuwaits footsteps – it will quietly be released. Maybe people will do some exchanging and then it will show publicly on forex.  

But, In today’s world and the speed of the internet - my guess is we will all see it at the same time …You guys will probably hear it first from folks like me and then we will be able to look at it…That’s my opinion.

MNT GOAT: The CBI is planning to conduct the project VERY SOON!! @DINARREVALUATION #iraqidinar

 

Government Advisor: The Monetary Enhancement Mechanism Will Maintain Financial Stability In The Country, 5 JAN

 Government Advisor: The Monetary Enhancement Mechanism Will Maintain Financial Stability In The Country

 
Economy    Today, Baghdad - INA - Amna Al-Salami  The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Friday, that the  Central Bank has adopted the monetary enhancement mechanism to feed national banks’ requests for foreign currency, indicating that the  
monetary enhancement mechanism will maintain financial stability in the country. 

Saleh stated to the Iraqi News Agency (INA) that “the function of the central bank will continue to move in two directions: the    first is to meet the needs of national banks for foreign currency with their correspondents, which confirms that the new monetary enhancement mechanism will work to provide monetary stability on the part of the monetary authority in the two issues of continuing the policy of monetary sterilization.” 

 Which is concerned with controlling local liquidity levels by exchanging foreign currency for dinars,” pointing out that “the new monetary enhancement mechanism will maintain a fixed exchange rate of 1320.”

One dinar for every 100 dollars, which will enable the Central Bank to achieve stability in the external value of the Iraqi dinar by controlling the growth in the money supply within the operational objectives of monetary policy  through the so-called monetary transfer mechanism to achieve the intermediate or real long-term objectives in achieving stability in The general level of prices or reducing the growth in inflation rates, and
 
this comes in conjunction with the stability of the exchange rate and the growth of the money supply to achieve stability in the general level of prices.”  Saleh added,
 
“The second trend is to provide foreign currency to correspondents of national banks in order to facilitate the stability of the real supply of basic goods and services flowing to the internal market with high smoothness, and to make compliance control over the disposal of foreign currency at two levels:
 
     national through the  Office of Combating Money Laundering and Terrorist Funds, and
     external, represented by “The role of correspondent banks that undertake the task of auditing compliance issues.”      https://www.ina.iq/224986--.html 

PATREON CC HIGHLIGHTS NOTES : The Quality of Investment Analysis in the Currency Auction Debate IN REFERENCE TO MILITIAMAN LAST INSIGHTS!, 5 JAN

 PATREON CC HIGHLIGHTS NOTES

Chapter Summary: The Quality of Investment Analysis in the Currency Auction Debate

Introduction

• They clarify that recent changes in banking practices, including the introduction of a new electronic system, are intended for local banks, not the central bank itself, and do not affect the ongoing currency auctions.
• The speaker emphasizes that the central bank is responsible for the administration of these auctions, and thus, any claims to the contrary indicate a fundamental misunderstanding of the banking system’s structure.

Addressing Misconceptions and Lies

• The speaker systematically dismantles militia man’s claims, labeling several of them as lies:
  • Misrepresentation of the status of the dollar auction.
  • Incorrect assertions regarding the role of correspondent banks in facilitating internal and external trade.
• By providing evidence directly from the Central Bank of Iraq’s website, the speaker highlights the ongoing nature of currency auctions and the central bank’s continued involvement in these processes.
• The speaker argues that militia man’s reliance on unverified snippets leaves his audience without the ability to independently verify the claims, thereby perpetuating misinformation.

The Importance of Data Integrity

• Throughout the debate, the speaker underscores the importance of using verified data when discussing financial matters. They assert that true understanding comes from analyzing raw data rather than relying on potentially manipulated or out-of-context snippets.
• The speaker expresses confidence in their analytical skills, suggesting that their approach—grounded in real data—provides a more accurate representation of the situation in Iraq than militia man’s commentary.

Conclusion: Implications for Investors

In conclusion, this chapter illustrates the critical importance of accurate, well-analyzed information in the realm of investment, particularly in the context of currency auctions in Iraq. The debate between the speaker and militia man serves as a cautionary tale for investors who may rely on misleading or inaccurate information. The speaker’s insistence on using direct data from credible sources emphasizes the need for rigorous analysis in financial decision-making. Investors must be vigilant and discerning, ensuring they base their strategies on verified information to navigate the complexities of international currency markets effectively.

• The key takeaways from this discussion highlight the necessity for thorough research and verification in financial analysis.
• Misleading information can have significant repercussions for investors, making a case for the need for transparency and accountability in investment advice.
• As the speaker invites a public debate, it raises the question of how differing perspectives can enrich the conversation surrounding investment strategies and economic understanding.

In a world where financial landscapes can change rapidly, the reliability of the information investors consume is paramount to their success.

FIREFLY: Television is now showing comprehensive approach on how to trade the Iraqi dinar on Forex !