The Central Bank Issues A Statement Regarding The Dollar Exchange Rate
Political | 05:57 – 20/02/2022 Baghdad – Mawazine News, on Sunday, the Central Bank of Iraq issued a statement regarding the exchange rate of the dollar against the Iraqi dinar.
An authorized source in the Central Bank of Iraq said in a statement that Mawazine News received a copy of it, “The current exchange rate has achieved many positive results, the most prominent of which was reducing the state’s general budget deficit to achieving a surplus at the end of 2021, and giving local producers and investors a competitive advantage. important with imported goods.
He added, “The repetition of changing the exchange rate within short times without studying by the concerned authorities, leads to economic recession, confuses the work of local markets, increases speculation on foreign currency, and squanders the gains made by the current exchange rate.”
The source stressed that despite the rise in global oil prices of an unstable nature, there is no connection between this rise and the objectives and results of changing the exchange rate, noting that “the current rise in oil prices will enable the Iraqi government to rebuild the Iraqi economy correctly, and build Sufficient financial buffers to counter any future fluctuations in international oil prices LINK
The Central Bank Reveals Details Of The Dollar Exchange Rate
Sunday, February 20 2022 5:54 PM Baghdad / National News Center Today, Sunday, the Central Bank of Iraq considered that positive results were achieved from the exchange rate of the US dollar against the dinar, warning of “economic stagnation” in the event of its repeated change within short times without studying.
An authorized source in the Central Bank of Iraq issued a statement this evening, which was reported to Shafak News Agency, that the current exchange rate has achieved many positive results, the most prominent of which was reducing the state budget deficit to achieving a surplus at the end of 2021, and giving local producers and investors an important competitive advantage. With imported goods.
The source added that the repetition of changing the exchange rate within short times without a study by the concerned authorities leads to an economic recession, confuses the work of local markets, increases speculation on foreign currency, and squanders the gains made by the current exchange rate.
The source stressed that despite the rise in global oil prices of an unstable nature, there is no connection between this rise and the objectives and results of changing the exchange rate, indicating that the current rise in oil prices will enable the Iraqi government to rebuild the Iraqi economy correctly, and build financial buffers. Sufficient to face any future fluctuations in international oil prices. LINK
The Price Of The Dollar Hits Hard In Iraq… Confusion In The Market And A Parliamentary Movement To Address It
Political | 05:36 – 20/02/2022 Special – Mawazine News A state of confusion dominated the Iraqi market, as a result of the parliamentary movement to address the effects of raising the price of the dollar and the rise in the prices of goods and merchandise in the Iraqi markets, and the controversy that accompanied it about the possibility of reducing the exchange rate of the dollar by the Central Bank of Iraq.
Yesterday, the House of Representatives hosted the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, who confirmed that there is no possibility to reduce the price of the dollar, but the local markets witnessed a decrease in dollar prices, as its price reached 1445 dinars to the dollar.
And the owners of the exchange shops demanded that the Central Bank “determine its position on the statements that come out regarding the reduction of the dollar exchange rate, especially as it introduced confusion in their work and increased supply compared to demand.”
According to the owner of a currency exchange in the Karrada area, he spoke to “Mawazine News”, “Many citizens are afraid of reducing the price of the dollar, so they are now selling the dollar, fearing a sudden decision and thus losing the difference between the current exchange rate and the new rate.”
And he asserts, “The demand for buying dollars from banking shops decreased as a result of the confusion that occurred and the return of the market to normal requires an explicit statement from the Central Bank.”
This comes as a parliamentary source revealed meetings of the political blocs, including the State of Law and Al-Fateh coalition, to discuss reducing the dollar exchange rate in light of the high prices of basic materials in the Iraqi markets.
The source added in an interview with Mawazine News that “the dollar hit the poor families and today it threatens economic security, so it is hoped that decisions will be issued regarding dealing with the effects of raising the price of the dollar.”
For his part, the representative of the State of Law coalition, a frightening revolutionary, comments on the political turmoil towards reconsidering the dollar exchange rate, stressing that any action has its economic reasons and rationales.
In an interview with Mawazine News, he said that the Sadrist movement had earlier voted to raise the dollar exchange rate, and that this was the country’s financial policy, and they believed earlier in the necessity of changing it.
He added that in our meeting with the Prime Minister, he confirmed that the process of raising the exchange rate achieved positive results in terms of raising the central bank’s balance of hard currency from 43 billion to 64 billion dollars, and indicated that any law issued must have negatives and positives, and in general economists take The biggest pluses. Ended 29/h LINK
A New Drop In The Dollar Exchange Rate
Economie| 07:02 – 20/02/2022 Baghdad – Mawazine News The dollar exchange rates continued to decline, on Sunday, in local markets.
And the selling prices of the dollar recorded today, Sunday evening, 142,500 dinars per 100 dollars, while the purchase prices of the dollar were 142,000 dinars per 100 dollars.
It is noteworthy that the selling prices of the dollar were recorded on Sunday morning, 145,250 dinars per 100 dollars, and the purchase prices of the dollar were 145,000 dinars per 100 dollars. Ended 29/R77
A Legal Expert Confirms The Possibility Of Changing The Dollar Exchange Rate With A Proposal From The Governor Of The Central Bank And The Approval Of Parliament
Saturday 19 , February 2022 | Economy Read Counter 118 Baghdad / NINA / – The legal expert, Ali Al-Tamimi, confirmed the possibility of changing the dollar exchange rate with a proposal from the Governor of the Central Bank and the approval of Parliament.
Al-Tamimi said in a statement: “According to Article 61 Seventh / B of the constitution, 25 MPs can raise a general topic for discussion and clarification and host the competent Minister.
Also, Article 58 of the constitution authorized the holding of the extraordinary session with the approval of 50 MPs, and this is not an interrogation, but an interrogation in accordance with the constitution and the internal system of Parliament.”
He explained: “Economic security is one of the first priorities of the government of managing daily affairs, meaning that security is an exception to the concept of conducting business or daily affairs, and the governor of the Central Bank can suggest changing the exchange rate of the dollar and bringing it down and presenting this to Parliament to give it legitimacy, and then if he is lucky. Voting by the absolute majority of the number of members, half of the total number plus one, adopts this change,” noting:
“The justification for this is the impact of this rise in the exchange rate on the poor and the prevalence of crime, suicide and heinous crimes, just as the rise in the exchange rate violates Articles 30 and 31 of the constitution, which the government is obligated to provide a free and decent life.
He pointed out that the other solution is that after this clarification, this proposal to go down the exchange rate is included in the next budget law, which is presented by the elected government according to exchange rate changes, and this becomes a binding law.
He stressed that the economic situation has a significant impact on the lives of the poor and has led to an increase in crime, divorce and suicide, so the urgent solution is in the public interest, as people’s lives are above the law and the people are the source of authorities. LINK
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