Returning the dollar exchange to its previous price is one of our priorities

Returning the dollar exchange to its previous price is one of our priorities

On Sunday, the representative of the Al-Sadiqun Parliamentary Bloc, Rafiq Al-Salihi, confirmed that returning the dollar exchange rate to its previous price is one of the priorities of the Al-Sadiqun bloc and other national forces that share the opinion with it.
Al-Salihi said in an interview with “Al-Ahd News”, “The Al-Sadikoun bloc will pay great attention through the legislation of laws that serve the poor segment.”

He added that “returning the dollar’s exchange rate to its previous price will be one of our priorities during the upcoming sessions,” stressing that “the continued rise in the dollar’s exchange rate has caused very serious and great damage to the poor and low-income segment.”

Alahadnews.net

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Legal expert clarifies what follows the decision of the Federal Court

Legal expert clarifies what follows the decision of the Federal Court

May be an image of 13 people{Political: Al Furat News} A legal expert explained, after the decision of the Federal Court tomorrow, Tuesday, and the options presented.

Ali Al-Tamimi told {Euphrates News}: “If the Federal Supreme Court rejects the case, the time limits for the completion of the election of the President of the Republic and the formation of the government will continue as it is.”

However, he added, “But if the court revokes the first session of Parliament and its outcomes, the President of the Republic, Barham Salih, will call the Parliament for a new session to elect a speaker of Parliament and his two deputies in accordance with Articles 54 and 55 of the Constitution. A confusing political scene, but Parliament can avoid this and remain within the time limit for electing the President of the Republic, no later than February 9.

It is noteworthy that the Federal Supreme Court decided last week to postpone the decision on the appeals submitted on the opening session of Parliament until tomorrow, Tuesday.

Alforatnews.iq

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Secretary-General of the CoM: Iraqi laws are enough to protect the Saudi

Secretary-General of the CoM: Iraqi laws are enough to protect the Saudi

May be an image of 1 person and textRiyadh – Mubasher: The Secretary-General of the Iraqi Council of Ministers, Hamid Al-Ghazi, said that the Iraqi government supports the Joint Coordination Council with Saudi Arabia; To open a new page in the historical relations between the two brotherly countries.

Al-Ghazi added, during his speech at the Saudi-Iraqi Business Forum, held in Riyadh today, Monday, that the Iraqi government worked to correct the paths to bring about a real economic transformation in a way that supports economic and human development and creates job opportunities for Iraqi citizens.

Al-Ghazi stressed that Iraqi laws are enough to protect the Saudi investor, and negative cases are addressed and resolved, pointing to Iraq’s aspiration to hold the next forum in Baghdad.

He pointed out that among the achievements are the establishment of the Saudi-Iraqi Business Council and the reopening of the new port of Arar, which represents the main commercial gateway between the two countries.

The Secretary-General of the Iraqi Council of Ministers pointed out that the problems facing the port are mostly procedural and routine that can be easily addressed in the near future.

Al-Ghazi said that the pillars of Vision 2030 are a major starting point for the strategic partnership between the two countries.

For his part, the Minister of Commerce and Chairman of the Saudi-Iraqi Coordination Council, Majid Al-Qasabi, said that all the ingredients for growth and prosperity for Saudi-Iraqi economic relations are available, the political will is supportive, and the possibilities and opportunities are great.

Al-Qasabi stressed the need for the business forum to be held on an annual basis and to increase the definition of investment opportunities available in both countries.

Al-Qasabi added that it is important to develop a joint action plan to translate aspirations and hopes into real opportunities that contribute to strengthening trade and investment relations between the two countries.

The Saudi-Iraqi Business Forum witnessed the signing of a number of agreements and memoranda of understanding between the Saudi and Iraqi sides, as well as a review of investment opportunities available in the Kingdom and Iraq.

Mubasher.info

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The National Union officially names Barham Salih as a candidate for the presidency

The National Union officially names Barham Salih as a candidate for the presidency

Shafaq News/ An informed political source revealed, on Sunday, that the leadership council of the Patriotic Union of Kurdistan voted on Barham Salih as the party’s candidate for the presidency of the republic for a second term.

The source told Shafaq News Agency, that the leadership council of the Patriotic Union of Kurdistan held a closed meeting today in Sulaymaniyah Governorate headed by the co-chair of the party, Bafel Talabani.

He added that the meeting discussed his candidate for the post of President of the Republic of Iraq, and unanimously approved that Barham Salih be the only candidate for the presidency.

And in the political tradition, during the past presidential sessions, a candidate from the National Union received the position of the Presidency of the Republic.

The Kurdistan Democratic Party won 31 parliamentary seats in the Iraqi legislative elections, compared to 17 seats for the Patriotic Union of Kurdistan. Following these results, the KDP announced the candidacy of Hoshyar Zebari for the presidency.

The new parliament’s presidency has set a date no later than the end of February 8, to receive the nominations for the presidency.

Shafaq.com

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We look forward to forming an economic bloc with Saudi Arabia

We look forward to forming an economic bloc with Saudi Arabia

President of the Federation of Iraqi Chambers of Commerce: We look forward to forming an economic bloc with Saudi ArabiaMubasher: The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, said today, Monday, that Iraq is looking forward to forming an economic bloc with Saudi Arabia.

Al-Zuhairi added during the Iraqi-Saudi Business Forum held in Riyadh, “The Kingdom of Saudi Arabia is an important strategic depth, because of its large economy, and there are economic changes that occurred after Corona,” noting that “we are looking forward to forming an economic bloc with Saudi Arabia.”

He added that “Iraq owns water and energies, in addition to Saudi Arabia’s possession of expertise and money,” expressing his hope that “there will be communication between the Iraqi and Saudi private sectors, and we hope that it will keep pace with development.”

Today, Monday, the activities of the Saudi-Iraqi Business Forum were launched with the participation of Secretary-General of the Iraqi Council of Ministers Hamid Al-Ghazi, Minister of Commerce Majid Al-Qasabi, President of the Federation of Saudi Chambers Ajlan Al-Ajlan and President of the Federation of Iraqi Chambers Abdul Razzaq Al-Zuhairi, and a number of Saudi and Iraqi business owners, to discuss aspects of joint cooperation in the commercial and investment fields. and mechanisms to support and develop it.

Mubasher.info

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Who determines the value of the currency, and what are the factors affecting it?

Who determines the value of the currency, and what are the factors affecting it?

Al Furat Center for Development and Strategic Studies – Man has known about money and used it as a medium of exchange for several centuries, due to the multiplicity of his needs and desires resulting from the economic and social development in life. Paper currency was invented.

The value of the paper currency does not stem from the ability to convert it into coins (gold and silver), but rather from the guarantee of the issuing government, while the value of coins comes from the same materials from which they are made, such as gold or silver, whose exchange value was similar to their original value.

The value of the currency refers to the exchange rate of each country, which is determined according to its own currency. The value of the currency was previously determined according to the gold owned by the country, but in 1971 America stopped linking its currency to the dollar, taking advantage of its economic control over the world, and from that moment most global currencies became valued in dollars. The US dollar instead of gold, and the banks determine the amount of currency in circulation and according to the market need, that is, if the amount of currency printed in the market increases without an increase in the volume of services and production in the country, the value of the currency decreases, and this is called inflation, but if the amount of services and goods increased and the amount of the offered currency did not change In the market, the value of the currency increased or its purchasing power increased.

The exchange rate is defined as the number of units of a particular currency that must be paid to obtain one unit of another currency, or it is the number of foreign exchange units that equal one unit of national currency, in other words, the ratio of the exchange of two currencies, one of the two currencies is considered a commodity and the other currency is considered a price for it.

The importance of the exchange rate is that it represents a link between the local economy and the international economy, and is also a determinant of the competitiveness of the local economy.

There are many methods that countries follow to determine the price of their currency, namely the fixed exchange rate and the flexible exchange rate. Under the fixed exchange rate method, the government determines the exchange rate for its currency through the central bank, and the price is fixed fixedly, by linking the country’s currency to the currency of another country (the dollar, the euro, or Yen), for example, some Arab Gulf countries link their currency exchange rate to the US dollar, and some other countries link their currency to a basket of currencies such as the State of Kuwait, and therefore the value of the currency is determined through the Central Bank and is not affected by supply and demand.

As for the flexible exchange rate (currency float), in light of this method, the price of currencies in the currency market is determined by supply and demand, meaning if the demand for the currency is high, the value of the currency will increase, and vice versa if the demand is low, the value of the currency will decrease, for example if Iraq’s exports increase To the outside world, those countries will pay the value of those exports in Iraqi dinars, which leads to an increase in demand for it, which leads to a rise in its value and vice versa. Developing countries that depend heavily on imports will depreciate the value of their currency.

It should be noted that the value of the currency does not necessarily reflect the strength of the economy. A country’s currency may be weak, but the economy is strong, for example, the Japanese yen (the value of the Japanese currency is low, in order for exports to global markets to be at a low price, which leads to an increase in demand for it in addition to Low production costs and this leads to attracting foreign investment into Japan).

The value of the currency in a country may be high and the economy is as modest as the Jordanian dinar, that is, the countries that depend on exports are served by the low value of their currencies. As for importing countries, the high value of their currency is the most appropriate for them, and in general, countries seek through the Central Bank to keep the price of their currency appropriate. for international trade.

In addition to the above, the currency exchange rate has three main functions:

A: – The standard function, where local producers depend on the exchange rate in order to measure and compare the domestic prices of a particular commodity with international market prices.

B:- The developmental function, the exchange rate is used to develop certain exports to certain regions by encouraging exports.

C: – The distributive function, and this function is accomplished through the practice of international trade activities, through which the exchange rate is able to redistribute national income and national wealth among the countries of the world.

The exchange rate is affected by several economic factors, including (interest rate, public budget deficit, foreign exchange reserves, international loans, balance of payments, inflation and the rate of economic growth). As for the non-economic factors that affect the exchange rate, they are turmoil, wars, rumors and news.

Therefore, governments can deal efficiently and effectively with economic and non-economic factors affecting the exchange rate in order to enhance the value of the currency and increase its purchasing power.

Annabaa.org

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The 2022 Budget Will Not Be Passed Until The Dollar Is Returned To Its Old Price

The 2022 Budget Will Not Be Passed Until The Dollar Is Returned To Its Old Price

الصفحة الرئيسية – وكالة العهد نيوزA Member Of The Coordination Framework, Ali Al-Fatlawi, Confirmed Today, Sunday, That The Draft Budget Law For The Year 2022 Will Not Be Passed Until After An Important Condition Is Met.

Al-Fatlawi Said In A Press Interview Followed By Al-Ahed News, “The Coordinating Framework, Through Its Presence In The Iraqi Parliament, Will Work To Restore The Dollar Exchange Rate To Its Old Price, And Otherwise, It Will Not Allow The Passage Of The 2022 Budget Bill Until After This Condition Is Achieved. The Important”.

Al-Fatlawi Added, “There Is No Current Justification For The Dollar’s ​​Exchange Rate To Remain In Its New Form, Especially With The Significant Rise In Oil Prices, And Raising The Dollar’s ​​Exchange Rate Has Greatly Affected The Lives Of Citizens, As It Raised Prices In The Market, And Contributed Significantly To Increasing The Poverty Rate, Which Is Why We Are Serious About Restoring The Price To Its Previous Position.”

Alahadnews.net

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The Recovery Of Oil Prices Is A Justification For Restoring The Dollar Exchange Rate

The Recovery Of Oil Prices Is A Justification For Restoring The Dollar Exchange Rate

May be an image of 1 person, money and textThe Information/Baghdad… The economic expert, Nabil Jabbar Al-Ali, expected, on Wednesday, a jump in oil prices in the coming days, after stabilizing the threshold of 75 dollars, stressing that the recovery of oil prices is a justification to reconsider the exchange rate of the dollar.

Al-Ali said in a statement to “The Information” that “the dollar’s ​​exchange rate depends on a fixed price policy that is not linked to the global economy,” noting that “the duty of pure monetary policy is to maintain stability and try to stimulate economic indicators within the country through per capita income, as well as the poverty rate and the indicator the prices”.

He added, “The Central Bank is primarily responsible for monetary policy in partnership with the Ministry of Finance, as well as the Ministry of Planning and the Economic Councils, and they must reconsider the dollar exchange rate, especially since this change came based on the requirements of the government’s deficit in the year 2020.”

Al-Ali pointed out that “the current government is currently facing an economic well-being that may rise in oil prices in the coming days,” stressing “the need to invest the surplus from oil revenues in economic projects.” finished / 25 h

Almaalomah.me

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The Framework Pledges To Restore The Price Of The Dollar To Its Previous Era “As Soon As Possible”

The Framework Pledges To Restore The Price Of The Dollar To Its Previous Era “As Soon As Possible”

Information/Baghdad… The representative of the State of Law coalition, Muhammad Hassan Al-Qadri Al-Shammari, confirmed, on Tuesday, that restoring the dollar exchange rate to its previous price is a basic requirement, noting that the forces of the coordination framework will work to restore it as soon as possible.

Al-Shammari said in a statement to “Al-Maalouma”, that “the current parliament is able to return the exchange rate of the dollar to its previous price, which is a popular demand in the first place,” noting that “the exchange rate has harmed a large segment of the people and cannot continue for a longer period.”

He added that “the framework will work to pressure the competent authorities to return it to its previous price,” noting that “one of our priorities as deputies is to work on restoring the exchange rate of the dollar against the Iraqi dinar in the service of our people.”

And the representative of the State of Law coalition, Firas Al-Maslmawi, had confirmed in a previous statement that his coalition and other representatives within the same direction would not allow the budget to be passed for the current year until after a reduction in the exchange rate of the dollar against the Iraqi dinar.

Almaalomah.me

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