TNT
CandyKisses:
The rise of the dollar against the dinar on the Baghdad Stock Exchange
{Economic: Al Furat News} The exchange rates of the US dollar against the Iraqi dinar rose today, Sunday, on the main stock exchange in the capital, Baghdad.
The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 153,450 Iraqi dinars for 100 US dollars this morning.
That the buying and selling prices rose in exchange shops in the local markets in Baghdad, where the selling price reached 153,750 Iraqi dinars per 100 US dollars, while the purchase prices reached 152,750 Iraqi dinars per 100 US dollars.
Tishwash:
How will we live?” The dinar is bleeding in front of the “green currency”, and officials are a-----d
There is no work or money, how can we live!” With these angry words, Mahmoud Hassan expresses his position on the depreciation of the Iraqi dinar against the US dollar.
Hassan, the owner of an antiques shop in the capital, Baghdad, does not see any justification for the dollar’s rise, “but the political class is benefiting from what is happening, and is pushing for a greater rise, and the people do not care.” at all.”
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Hassan says, “His business was greatly affected by the rise in the dollar… This led to a weak demand for people to buy.
The Iraqi dinar is witnessing bleeding against the dollar, although the exchange rate is officially set at 1460 dinars, but the current prices amounted to about 1545 dinars against one dollar.
A parliamentary warning ,
A member of the Finance Committee in the House of Representatives, Sajjad Salem, attributes the reason for the dollar’s rise to “stopping 4 Iraqi banks from entering the currency sale auction as a result of international sanctions, in addition to the electronic platform that was announced.” Central Bank of Iraq
it was Central Bank of Iraq In the past weeks, 4 private Iraqi banks have been excluded from the currency sale auction. Following directives and accusations from the US Treasury to these banks of “currency smuggling”.
Salem calls, in his interview with Alsumaria NewsThe government called for “finding the necessary solutions and controlling exchange rates,” warning that the dollar’s continued rise for a new week “will create negative effects in the country.”
And the member of Parliament’s finance goes on to say, “There are no positive returns from this rise, because it is unplanned.”
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Shaleef Al-Souf For her part, a member of the House of Representatives, Alia Nassif, said, on the occasion of the dollar’s rise, “You are asleep, Shalef Al-Souf, and the dollar is swaying with your people.”
Nassif indicated in a tweet on Twitter, “(Sherif Al-Souf) here is not a person, but rather a system that deserves to be cursed for its c--------n, which starts with those who have the idea of the exchange rate and ends with those who oppose its return to 120,000 dinars.”
* Parliament abandons promises
holding the “early” e-------s on October 10, 2021, the candidates for the fifth parliamentary session were singing about devaluing the dollar, but they “abandoned their promises.” Bassem Jamil Antoine.
While the deputy says Moein Al-KazemiThat the House of Representatives is unable to deal with the rise in the price of the dollar; Because this is a matter for the government.
Al-Kadhimi calls, in an interview on an investigative program broadcast by Alsumaria TV, on the government to “monitor merchants and private banks and control the currency market,” adding that “the solution cannot be through reducing exchange only, but rather through encouraging the national industry.”
* The platform
Returning to the economist’s speech, he points out that “there is supply and demand, the supply is low and the demand is wide and large due to the Central Bank’s development of an electronic platform on the recommendation of the Federal Reserve Bank; in order to check the numbers of buyers of the dollar; to prevent it from being traded on the black market.”
Shows Antoine to Alsumaria News, that “this platform disrupts the process of pumping the dollar, after the central pumped about 200 million daily, it now supplies the market with about 130 million.”
On December 15, the Iraqi Central Bank considered the rise, which it described as “simple” in the exchange rate, as being due to some factors, including “building an electronic platform through which banks raise their customers’ requests.”
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And the bank continued, in a statement, that it “started months ago to build this platform in coordination with international bodies for the purpose of ruling and organizing window operations for buying and selling foreign currency and ensuring effective control over it, as an international company specialized in building it and linking banks with the central bank through it,” noting that “The platform requires providing information about customers requesting transfers, beneficiaries, correspondent banks, etc.”
The statement indicated that “due to the recent use of this platform, many errors are being discovered, which requires the bank to re-download it. These procedures take additional time to accept the request and pass it through the global financial system.”
He explained that “the central bank’s reserves and the state’s financial solvency in general are in excellent condition and at their best levels in decades, and that the current supply of foreign currency is not linked to resources, but rather to administrative and auditing procedures, which will be bypassed during the coming days. In addition, the central bank has taken a number of measures to expand the offer.” foreign exchange to meet the public’s demand for cash dollars.
A few days later, specifically on January 19, the Iraqi Central Bank approved a package of decisions “that would restore the foreign currency market to its normal position.”
These decisions, as stated by the bank in a statement, consisted of “allowing banks to participate in the window of buying and selling foreign currency by purchasing any amounts in foreign currency and depositing them with this bank in accounts used for external transfer purposes, and interest / returns are paid on those balances according to what this bank decides.” .
It also included “facilitating the financing of private sector trade through Iraqi banks and meeting the demand for foreign transfers by strengthening bank balances with their correspondents in other currencies in addition to the US dollar (Chinese yuan, the euro, the Emirati dirham, the Jordanian dinar, and others).”
The bank added, “Outlets have been opened to sell foreign currency in government banks to the public for the purposes of travel (treatment, Hajj Umrah, study, etc.)
The Central Bank stressed, “Reducing the selling price of the dollar to the beneficiary (the card holder) that he uses while traveling or paying his purchases via the Internet, to be at a price of (1465) dinars to the dollar instead of (1470) dinars to the dollar. The dollar will be sold to electronic payment companies for the above purpose at a price ( 1455 dinars to the dollar instead of (1460) dinars to the dollar.
*Another high
And go ex-jsc member Salama Simsim Far from putting it on this topic, as she believes that the exchange rate has reached 160,000 dinars for 100 dollars.
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Sumaisem said in an interview with the “After the Investigation” program that she broadcasts Sumerian Channelsatellite channel, that “the price of the dollar will not return to its previous state, due to the obligation of Iraq to the decisions of the World Bank for a period of five years, according to the white paper.”
And she pointed out that “the procedures for raising the exchange rate have benefits for the government and not for citizens, because in this case it will provide large amounts of local cash as a result of the dollar’s rise,” indicating that “the solution lies in pumping foodstuffs through the ration card, which can relieve the burden of the citizen from the flames of prices.” It maintains market stability. link
MP Al-Qaisi: The government is able to rein in the dollar at any moment it wants
Representative Mahmoud Hussein Al-Qaisi confirmed, on Sunday, that the government is able to rein in the dollar at any moment it wants.
Al-Qaisi said in a tweet via Twitter, “With the hundreds of billions stacked in the Central Bank’s accounts, and with the tons of gold stored in them; in addition to the treasury bonds in the US Federal Bank, controlling the market is subject to a government decision capable of curbing the dollar at any moment the government wants.” .
He added, wondering: “But when will you take this step!?” link
Mustafa Sanad: Iraq is being subjected to international colonialism led by America through the dollar
Representative Mustafa Sanad a-----d, on Sunday, America of leading international colonialism and blackmail against Iraq by causing a rise in the exchange rate of the dollar, criticizing the silence of the political blocs on this matter.
Sanad said in a publication seen by / the information /, that “the dollar’s rise in 2021 came because of the US-friendly government for the purpose of preventing the transfer of the dollar from Iraq to neighboring countries (Turkey, Iran, Lebanon and Syria) for the purpose of punishing them.”
He added, “The rise of the dollar these days is completely different, as it came because of America itself, without a mediator, and the purpose is to prevent the dollar from entering Iraq in the first place, for the purpose of punishing it lightly, and it is waiting for it at the dialogue table in early 2023 for the purpose of understanding about hot files such as the Iranian file.” And the energy file, the future of US forces and security agreements.
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He explained that “the accumulation of foreign currency reserves in the Central Bank of Iraq and deposited with the US Federal Reserve, which will exceed 100 billion dollars and is constantly increasing, and it is difficult for Iraq to dispose of this large number, only America allowed five shipments per month to enter the country.”
And he considered that “it is cowardice not to criticize the current government and the current parliament for watching the rise of the dollar and its impact on the people, especially since the current prime minister and the current deputies, including (me), have addressed the dollar file earlier and strongly criticized the rise that occurred at the time, and today our tongues are almost silent.” .
He continued, “It is cowardice and inferiority not to criticize the negative role of the Americans, to diagnose the colonial role and international extortion, and to prevent the transfer of our money, amid strange silence from the political leadership.” link
Source: Dinar Recaps
Tishwash:
After years of delay and disagreement… an agreement by the “majority” to pass the Oil and Gas Law – Urgent
Today, Monday, the Kurdistan D--------c Party revealed the existence of a political agreement to pass the oil and gas law with the start of the new legislative term of the House of Representatives.
The leader of the party, Wafaa Muhammad Karim, told (Baghdad Today) that “there is a political agreement between all political blocs and parties to pass the oil and gas law because of its importance, with the start of the new legislative term of the House of Representatives.”
And Karim stated, “This law, which will regulate the relationship between Baghdad and Erbil with all oil and financial files, will be passed by the parliamentary majority. The agreement to pass the law took place between the blocs and parties of the State Administration Coalition.”
The Oil and Gas Law, which has been awaiting legislation in parliament since 2005, stipulates that the responsibility for managing the country’s oil fields should be entrusted to a national oil company, and it should be supervised by a federal council specialized in this matter.
But since 2003, Baghdad and Erbil have been at odds over the issue of managing the region’s oil fields.
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Baghdad says that the region does not declare real oil export amounts and does not hand over those amounts to it, while Kurdistan says that exports from the oil fields in its territory must be subject to its management, whether in terms of granting licenses for new exploration, managing existing fields, or controlling production and export. For the destinations he chooses, or contracting for the purchase and development. link
Bigt35:
So today on Google News even took a snapshot article Says Iraq’s CBI making a move to strengthen the dinar against the Dollar . Found that interesting . Meaning being in Google news for everyone to see .
Tishwash:
Jamal Cougar: The government promised to lower the price of the dollar, but it lost control over it
Member of the Finance Committee, Jamal Cougar, held the Central Bank, the Ministry of Finance and the Council of Ministers responsible for the significant rise in the exchange rate of the dollar against the Iraqi dinar, while calling on the committee to intensify its meetings to put pressure on the concerned authorities and to know the causes of the rise and address them.
In a statement to the National Iraqi News Agency ( NINA ), Cougar said, “The large rise in the dollar will negatively affect the Iraqi economy, as it will lead to economic stagnation, because the investor and trader are afraid of any fluctuation in the currency that leads to an increase in the prices of goods and services.”
He added, “The government promised to control prices while it lost control, and the market is controlling the price of the dollar against the dinar, and this weakens the government’s ability and loses the citizen’s confidence in it.”
Cougar indicated that “the concerned authorities / the Central Bank, the Ministry of Finance and the Council of Ministers / are responsible for this rise and its treatment, and the Finance Committee should intensify its efforts by hosting those concerned and putting pressure on them. link
Deputy: Iraqi banks involved in smuggling large sums of money
The deputy of the State of Law Coalition, Jawad Al-Ghazali, revealed, on Monday, the involvement of Iraqi banks in smuggling large sums of hard currency outside the country.
Al-Ghazali said, in a statement to Al-Maalouma, that “Iraqi banks are looking for legal loopholes to smuggle money out of the country,” expressing his hope that “the prime minister and the relevant ministers will be able to draw up a strategic plan to monitor the work and performance of banks and preserve the hard currency.”
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He added, “Banks and private banks are involved in exploiting legal loopholes to plunder Iraq’s bounties that come from selling the work auction,” pointing out that “the proceeds of the currency sale auction revived the pockets of the c-----t and looters of Iraq’s resources through the monopoly of the dollar.”
And the deputy of the State of Law coalition, Jassim Al-Moussawi, a-----d, in a previous interview with Al-Maalouma, private banks of smuggling currency and money laundering in the previous period, calling on the new government to control the doors of smuggling currency out of Iraq. link
Harambe:
Iran’s currency slumps to another all-time low amid unrest | 12/26/22
Iran’s national currency rial continues to lose ground against the US dollar, slumping to the lowest-ever rate recorded in the country’s open market on Sunday amid months-long protests.
The stumbling rial traded above 411,000 to the greenback on bonbast foreign exchange website on Sunday as US dollar and other foreign currencies fiercely rallied against it.
It is the first time in the country’s history that the rial has breached the 400,000 threshold, sparking concerns in the foreign exchange market and financial circles.
Since mid-September, when young Iranian woman Mahsa Amini’s d---h in police custody triggered countrywide protests, Iran’s currency has lost almost 20% value, according to market analysts.
In his remarks last week, Central Bank Governor Ali Salehabadi blamed the turbulence in the forex market on the ongoing protests, while also noting other destabilizing factors, including US sanctions.
He, however, pledged to inject more dollars into the market to restore order, saying the central bank will act both as a “market-maker and hard currency policy-maker”.
The move, however, didn’t work as the country’s parliament on Sunday summoned Salehabadi and Iran’s finance minister and government spokesman Ehsan Khandozi.
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Khandozi assured lawmakers that the apex bank is mulling measures to restore stability in the forex market, while blaming “enemies” for turning their focus to banks and the forex market after “failing to close markets”, referring to recent nationwide strikes.
Parliament Speaker Baqer Ghalibaf, however, was scathing in his criticism of the central bank, saying the situation in the forex market is “not acceptable to people”
Iran has been rocked by widespread protests in recent months in the wake of Amini’s d---h, sparking fresh tensions between Tehran and Western countries and resulting in fresh sanctions against the country.
On Friday, Germany said it was downgrading relations with Iran and suspending trade promotion programs, citing the “very serious situation” in the country.
The depreciation of Iran’s currency also comes amid a standoff over talks in Vienna aimed at salvaging the 2015 nuclear deal and reports about Iran supplying drones to Russia for use in the U-----e war.
It is worth noting that since May 2018, when the former US administration walked out of the nuclear deal, Iran’s currency has seen a seven-fold devaluation, which has fueled the country’s economic crisis and worst inflation.
https://www.yenisafak.com/world/irans-currency-slumps-to-another-all-time-low-amid-unrest-3657862
Source: Dinar Recaps
Yada:
Funny to read all the articles from parliament members and Iraqi economists on their fear of the rising dollar prices. They fail to pay attention to the CBI and not see the endgame. CBI will flip the script and SOON will be clamoring for the dinar. The steam from the kettle is whistling and ready to brew the RI.
RVAlready:
Hi Yada. Quiet before rate change.
BigJohn:
the ri is coming they are in the process of getting the dinar off the streets !!!!
PaulW:
Yada, you are right on the money… The dollars are s-----g up the IQD. When the IQD become scarce, they will flip the switch
Source: Dinar Recaps
VictorD:
Good Read. Explains a lot.
Iraqi dinar trembles as US fights currency flow to Iran
Recent measures taken by US authorities to tighten the channelling of dollars to Iran from Iraq have decreased the value of the Iraqi dinar on the black market, government officials and traders said on Monday.
The Iran-backed Iraqi government has been struggling to control the exchange rate to contain mounting public anger over soaring goods prices.
The dollar exchange rate in the black market has been hovering around 1,550 Iraqi dinars from around 1,470 dinars, Dhirgham Hameed, owner of a Baghdad-based exchange company, told The National.
“The dinar has been trembling against the dollar since early this month, wreaking havoc in the market,” Mr Hameed, 44, said.
In 2004, the Central Bank of Iraq introduced the foreign currency auction as one of its policy tools to achieve monetary stability.
Through that auction, the government has succeeded in controlling the exchange rate on the black market.
For years, the official rate for banks and exchange companies was 1,182 dinars, while the rate on the street was around 1,200 dinars.
However, the process has been mired with accusations of c--------n, money laundering and the channelling of dollars to Iraq’s neighbours, Iran and Syria, using forged bills. Both countries are under punishing US sanctions.
Since then, the US has blacklisted a number of Iraqi banks that deal mainly with Iran. The US sanctioned Iraq’s Al Bilad Islamic Bank for dealing with Iran’s Islamic Revolutionary Guard Corps in May 2018.
Amid a liquidity crisis due to plummeting oil prices on the international market, Iraq’s Central Bank devalued the dinar in December 2020 to 1,460 dinars per dollar for banks and 1,470 dinars for individuals.
The interim government argued the move would also curb the flight of the “cheap dollar” outside the country.
But that didn’t stop the outflow of much-needed hard currency.
The US Ambassador to Iraq has complained to Iraqi officials on many occasions that the dollar was still being sent to Iran, a Central Bank official and a lawmaker said.
But Mohammed Shia Al Sudani‘s government, which took office in late October and is close to Iran, has not taken any action, they said.
“When there was no action from the government, the Federal Reserve bank started to apply scrutiny measures on foreign transactions and that has delayed the process of releasing the money from the US to cover the imports and other needs,” the Central Bank official said.
Both spoke on condition of anonymity as there is no government statement on the latest US measures.
How the process goes
Each dollar Iraq gains from selling crude oil goes to an account at the Federal Reserve Bank of New York, and Iraq makes withdrawals to pay government salaries and imports.
Oil revenue makes up nearly 95 per cent of the federal budget and the war-torn country depends heavily on imports to meet the demand for food and materials for key sectors of the economy.
The Federal Reserve Bank of New York supplies Iraq with hard currency on request from the Iraqi government, either in cash or foreign transactions.
While some of these funds are used to cover government imports and other requirements, much of it is passed on to commercial banks, ostensibly for private sector imports in a process that was hijacked long ago by Iraq’s money-laundering cartels.
The rest of the money is added to the international reserve.
Thanks to Iraq’s growing oil revenue, the Central Bank of Iraq has about $96 billion in foreign exchange reserves, Mr Al Sudani announced early this month.
As of last month, the CBI sold an average of $240 million to $250 million a day, said another owner of an exchange company, who asked to remain anonymous.
Only 10 per cent to 20 per cent of the money was cashed out to be distributed to banks and exchange companies and then to individuals, while the rest was sent to accounts in Dubai, Turkey, Amman and China to cover private sector imports, he said.
“Iraq has no problem with the money at all, it has good reserves,” the exchange company owner said. “It sounds as if the issue is politically motivated because the Americans are upset.”
Over the past 19 years, the Federal Reserve has never delayed a request or transaction from Iraq, he said. “They used to approve any bill immediately,” he added.
“But since early this month, the Americans have started applying scrutiny measures on foreign transactions and the new process has delayed each transaction for up to two weeks,” the exchange company owner said.
He added that most of the requests were being rejected due to suspicions that some banks are linked to Iran.
Since then, daily transactions have dropped from around $200 million to between $20 and $30 million a day.
“The reserves have been dried up in the accounts abroad and that has pushed up the demand for the dollar in the local market to cover imports,” he said.
To control the rate at the black market, the government has asked the CBI to take urgent steps to compensate for a dollar shortage in the local market.
It reduced the exchange rate for individuals from 1,470 dinars to 1,465 dinars to cover travel for the Hajj pilgrimage, medical treatment and study.
It also asked the CBI to help private banks strengthen their non-US dollar foreign currency reserves such as the Chinese yuan, the euro, the Emirati dirham and the Jordanian dinar.
But these measures failed to strengthen the currency.
“We are not optimistic and we believe that the worst is yet to come unless the government applies urgent, immediate and effective measures,” Mr Hameed said.
The current official dinar to dollar exchange rate is 158,000.
Interesting that this is still happening. IMO this is the money our past President refered to when he stated we have “x” billions of Iraqs money we can take/freeze. He wasn’t talking about currency.
“Each dollar Iraq gains from selling crude oil goes to an account at the Federal Reserve Bank of New York, and Iraq makes withdrawals to pay government salaries and imports.”
Tishwash:
Very shocking news.. The dollar is heading to 2,000 dinars amid a government deficit
Financial experts expected the exchange rate to reach 200,000 per hundred dollars in the event that the current crisis is prolonged.
The economic and financial expert, Mahmoud Dagher, commented, during his speech in a press interview, regarding fears that the exchange rate would reach 200,000 dinars per 100 dollars. He said that “the longer the crisis lasts, the dollar is expected to reach 200,000 dinars.
” “The longer the process of disagreement and unwillingness to concede, the price will rise, and the United States must give up using the shock method, and in return, Iraq must develop its tools to improve the performance of the window.”
The economist, Salam Sumaisem, agreed with what Dagher put forward, stressing in the same dialogue that “if the crisis is prolonged, the exchange rate reaching 200,000 dinars is an inevitable result, because the longer the exchange rate goes on, the higher the exchange rate, as a result of the high uncertainty.”
CandyKisses:
Mohammed Allawi on the crazy rise in the exchange rate: speculators and interest in millions of dollars a day
Baghdad – Nas
Iraqi politician Mohammed Tawfiq Allawi spoke on Monday about the recent rise in dollar prices and the reasons behind it.
Allawi asked in a post followed by “Nas”, (December 26, 2022), saying: “Who is the beneficiary of the rise in the price of the dollar???? Is it possible to return the price of the dollar to its real price in less than 24 hours???”.
He added, “The price of the dollar has risen these days to more than 158 thousand dinars per 100 dollars, and this price is unusual and unexpected, as its real price is 146 thousand dinars per 100 dollars, and the reason for this rise is the lack of supply and increased demand, due to the exclusion of four banks by the Central Bank from the window of selling currency due to c--------n, and here we wonder whether the Central Bank can return the exchange rate to the real rate, i.e. 146 thousand dinars; the answer: Yes, it can, within a period not exceeding 24 hours, by increasing the supply through private banks and money changers, as well as government banks, especially Rafidain and Rasheed Bank, so that the supply covers the demand.”
He continued, “But if the central bank does not move to cover demand, it is normal for the dollar to rise and continue to rise to unprecedented levels, and I cannot accuse specific people, but I say that speculators achieve daily benefits exceeding fifteen million dollars a day if we assume that the central bank sells on average about 200 million dollars a day!!!.. Yes, this difference achieves these large profits at the expense of the interest of !!!!! citizens.”
He also asked, “Are there hidden hands deliberately prolonging the crisis, which can be solved in less than 24 hours???? Who is responsible for the suffering of citizens????? Questions that need answers!!! Some accuse outside parties, and I cannot deny this, but I rule it out greatly!!! The future will reveal the hidden!!! , and the future will reveal who is responsible for this suffering!!! The future will expose the c-----t!!”
Tishwash:
A parliamentarian warns of an economic catastrophe
A member of the Parliamentary Services and Reconstruction Committee, Burhan Al-Mamouri, warned today, Wednesday, of the possibility of an economic catastrophe if the exchange rate deteriorated, while stressing that the continuous decline overwhelms the greedy and harms the fragile classes.
The media office said in a statement received by the National News Center that “the various countries of the world depend on monetary policies and developed economic systems,” noting that they “control the stability of their currencies’ prices against foreign currencies.”
He added, “The foreign currency sale auction adopted by the Central Bank of Iraq needs to be reviewed,” pointing out that it “raised a lot of confusion and suspicions over the past two decades.”
He explained that “the continuous decline in the exchange rate of the Iraqi dinar against the US dollar has greatly harmed the fragile classes of society,” stressing that “on the other hand, it has filled the pockets of the greedy.”
Al-Mamouri called on the central bank administration to “take urgent measures to control the exchange rate in the local markets,” noting “the need to preserve the value of the dinar against the dollar.”
And he warned of the possibility of a monetary catastrophe that might collapse the local economy, which is suffering a lot, stressing “the importance of developing immediate solutions to prevent the continued deterioration of the local currency exchange rate.” link
In the document, the Central Bank takes action to address the rise in the exchange rate
The Central Bank of Iraq decided to stop the work of collecting taxes in advance to deal with the high exchange rate.
Date: 12/26/2022
To / all authorized banks
M / collection of customs duties and taxes
good greeting…
Based on Cabinet Resolution No. (351) for the year 2022, which includes non-compliance with the collection of customs duties and amounts
Advance taxes provided for in Article (16/fourth) of the Federal General Budget Law for the fiscal year 2021/2021, until the end of
It will come into force at the end of the fiscal year 2021, with confirmation that the General Authority for Customs and the General Authority for Taxes have met those fees and amounts
Taxes on goods entering Iraq at the border crossings.
To kindly inform and inform your bank customers and to act accordingly and prevent double taxation…with appreciation
Dr.. Ammar Hamad Khalaf
Vice Governor Agency link
What is the relationship of Washington and China to the high exchange rate of the dollar in Iraq?
On Monday, the leader in the coordination framework, Turki Al-Atbi, explained the fact that there is a relationship between Washington and China with the rise in the exchange rate of the dollar, which reached 159 thousand during the past hours in Iraq.
Al-Utbi said in an interview with (Baghdad Today), “The Iraqi-Chinese rapprochement has disturbed Washington a lot in recent months, especially with the growing entry of companies into the energy, oil and education sectors and the emergence of important partnerships, not to mention the Sudanese presence in a strategic conference in Riyadh on development with Beijing in the presence of many of the Arab leaders.
He added, “Washington has many pressure factors in the Iraqi scene, including manipulating the pumping of the dollar into the markets, and this is what led to raising the exchange rate in order to create popular anger and organize demonstrations to put pressure on the Sudanese government later in order to negotiate the relationship with China and the rest of the other files.”
Al-Atbi pointed out that “America will not hesitate to do anything in order to prevent any development in Iraq through the gate of China or any other country,” stressing that “Baghdad’s balances in Washington are in constant danger, and we must reconsider keeping the balance of funds in America because it will always be used.” in economic pressure.
Earlier in the day, the price of the dollar, even before the closure, reached 158 thousand and 250 dinars, for every 100 dollars, and it was heading towards 159 thousand dinars, in an unprecedented excess of dollar prices since its change in late 2020. link
Source: Dinar Recaps
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