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Bond Ladys Corner » NEWS FROM IRAQ » Iraq Dinar & CBI News » Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of economic policy

Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of economic policy

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ikea


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Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of economic policy
 
    Time: 03/21/2024 13:48:21 Read: 4,381 times
 

{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the strength of the dinar against the dinar after a relative decline in the exchange rate. Saleh told {Al-Furat News} agency,
 
 “We indicate the strength of the Iraqi dinar, expressed in the decline in the parallel market rates of exchange in favor of the official exchange rate, a tangible success in the cohesion of the country’s economic policy in its three aspects:
 
     monetary,
 
     financial, and
 
     commercial,
 
in providing a coherent climate of stability in the general level of prices.” And
 
containing seasonal price fluctuations for high-demand items,
 
specifically providing basic food commodities that have low price elasticities of demand because they are necessary commodities associated with consumption and daily living.” He noted
 
"the importance and speed of customs procedures, which were represented by (reducing customs tariffs and diversifying imports without quantitative limits for necessary goods) as part of the performance of the financial policy in
 
     supporting price stability and
 
     ensuring the supply of food and essential goods and production supplies
 
at the official exchange rate and in accordance with the requirements of the national economy."
 
The Parliamentary Finance Committee had expected the dollar price to continue to decline as the results of the measures taken by the Central Bank of Iraq to limit the rise in the foreign currency began to appear.
 
The dollar exchange rate a few days ago was about 1,500 or 1,490 thousand dinars to the dollar. 
 
https://alforatnews.iq/news/مستشار-لرئيس-الوزراء-انخفاض-الدولار-مؤشر-على-قوة-الدينار-ونجاح-ملموس-للسياسة-الاقتصادية  

ikea


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The Prime Minister's Advisor announces the decline in the effects of the parallel market and the decline in its activity
 
Economy    Yesterday, 15:07
Baghdad - INA - Nassar Al-Hajj
 
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, announced today, Sunday,
 
the decline in the effects of the parallel market and the decline in its activity, while revealing the reasons for the decline in the dollar’s ​​exchange rate against the dinar, and
 
the importance of monetary policy and its imposition of a climate of stability at the general level.
 
Saleh said to the Iraqi News Agency (INA):
 
“Economic policy played a major role in imposing a climate of stability in the general level of dollar exchange rates,” indicating that
 
“the state of superiority of the official exchange market in financing Iraq’s foreign trade caused a decline in the effects of the parallel market and a decline in its illegal activities.” Legal". He pointed out that
 
"the decline in parallel market rates in favor of the official exchange rate is a tangible success in the cohesion of the country's economic policy in its three aspects:
 
     financial,
 
     monetary and
 
     commercial," pointing out that
 
"the work and high coordination of policies led to providing an incubator of stability embodied in relative price calm and the containment of seasonal price fluctuations." “For materials in high demand, specifically the provision of basic goods related to consumption and daily living for citizens.” He noted
 
"the importance of using the customs policy, which was represented by (reducing customs tariffs and diversifying imports without quantitative limits for basic and necessary goods) as part of the performance of the financial policy in providing price stability and ensuring the supply of materials, food and essential goods, and production supplies at the official exchange rate and in accordance with the requirements of the national economy."
 
In addition to the high stability in bank financing for foreign trade for the private sector, which began to adopt the stable official exchange rates of 1,320 dinars per dollar in a wide and more flexible manner through the regularity and stability of financing operations. He pointed out that
 
"the demand for foreign currency for the purposes of financing the country's foreign trade, on the part of the private sector, is today supported by large foreign currency reserves, which are the highest in the country's history, reaching nearly 111 billion dollars today." He continued,
 
"These high foreign currency reserves reflect the country's annual trade efficiency of more than 16 months of import at least in light of the global standard for the trade efficiency of foreign reserves, which is limited to only about three months, and that
 
the ability of these reserves to cover the exported currency is considered a complete coverage of foreign exchange, which is an indicator of stability." Contains any existing or anticipated adverse price fluctuations. 
 
https://www.ina.iq/205566--.html  

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Bond Ladys Corner » NEWS FROM IRAQ » Iraq Dinar & CBI News » Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of economic policy

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