Life is not a bed of roses that you sleep one day, and the other day, you get rich without investing your time, money and working hard to achieve something. Investment in anything is just like life. It is a compulsory part of an individual's life. Investment in currency provides a person with the financial security that not any other market can offer. Whenever the word "investment" comes to mind, the person's mind revolves around purchasing bonds, acquiring stocks, and buying shares.
However, if you are aware of the current market trends, you will know that the Dinar investment market is booming now than ever and are ruling the money markets once again. Some economists firmly believe that in the future, Qatari Dinar will get beaten by Iraqi Dinar as the foreign reserves for Iraqi Dinar are running low for quite some time now. Yes! Purchasing Iraqi dinars is a profitable investment for the near future because it provides a person "GET RICH QUICK" scheme. Iraqi Dinar will be the currency of the future, and who knows, it might cut Bitcoin down.
With newspapers and TV channels 24/7 reporting that the Iraqi Dinar's earning ability will leave you baffled, one starts thinking about the currency's prospects. The Dinar's valuation is high because Iraq has the world's 2nd largest oil reserves globally. In any case, while keeping in mind the politically unstable condition of the country, one must consider these things while buying Iraqi dinars
Always buy new dinars
Who knows about the condition or the life period of the old Dinars? The country might outright ban the older currency notes; that is why it is advisable to buy newer currency notes from a trusted seller and there are many trusted dealers out there, which offer you the best customer service at a reasonable price and gives authenticity of notes certificate along with the order.
Look out for investment trends of the market
You might as well keep a check on the recent investment trends in the market. You might be investing in something that might not get you the profits you want, and the other thing that you weren't betting your money on might win the whole race. Always lookout for what's trending so that you can maximize your profits.
Watch out for forged currency
While purchasing Iraqi Dinar, it is wise to check the security features of new Iraqi dinars. This will help you purchase the real Iraqi dinars, but you will also secure the potential future earnings from that as well. Otherwise, fake currency notes are not suitable for anything except making paper planes.
Get a currency purchase certificate
It is advisable that while making any purchase or acquiring Iraqi dinars, you must ask your dealer to send you a currency purchase or authenticity of currency certificate so that buying Iraqi dinars can be a legitimate deal and can become an agreement enforceable by law.
If you keep a check on these things, one thing is for sure that you will never be scammed and will benefit from it greatly.
The exchange rate is rising
Pro-Tip: You can always check the internet about the Iraqi dinars' exchange rate in 2019, 2020, and 2021. You can see that the exchange rate of Iraqi dinars has risen by almost 20 percent. Iraqi dinars are becoming personal favorites for large-scale investors as those people clearly see the prospects of this investment. In the first gulf war, Qatar's currency, i.e., the Qatari Dinar, went soaring up in the sky; the same is the case with the Iraqi Dinar. People now trust that Iraqi Dinar is a secure investment, and Iraq's central bank is backing up the whole scheme.
The currency of the future
Iraqi Dinar is the currency of the future, said top economist of Japan who compared it with Bitcoin and said that the second-largest country in terms of oil reserves will beat up all other currencies in the upcoming future because it has been undervalued for some time now, and it will pick up the pace. This is economics 101. Although Iraq's current condition is politically unstable, investment in currency might look dangerous to you, but this is what happened to Bitcoin. People didn't trust the idea of Bitcoin at first and are now rubbing their palms in awe.
If you want to reap the high benefits from your investments, invest in Iraqi Dinar, said a financial analyst at Newyork. Buying Iraqi dinars could lay out a rosy future for you, offering you a chance to earn and gain profit over the future potentially.
Author / Mazhar Al-Ghaithi The West deals with strategy, and it is a mistake not to try to understand what they are trying to do with us through gathering information, analyzing it, and deducing future goals and plans for them so that we can confront them through tight, easy and reluctant planning that depends on loyalty to God and trust in Him and relying on His success. Here we will discuss one of the challenges that are the focus of the hour’s talk, which is changing the exchange rate, and summarize it accordingly: 1. Many observers are confused about the real reasons and motives behind the Al-Kazemi government’s feet to sell dollars at a high price to the people for reasons. Let us think out loud and say is it:
A- To withdraw cash or cash from the people, which exceeds the financial potential of the state, as it is known that the monetary properties in circulation in the market or in the possession of people are higher than what the state owns, and this in itself poses a threat to the state’s financial sovereignty and loss of its balance and threatens the failure of the financial system B - Did the instructions come from America in this regard in order to control the people and the Shiites in particular like this and simply to make it easier to fight them and implement all kinds of plans that they want to implement on them? 2. Is it that the families controlling the global economy want internal control over the Iraqi economy through the window of the World Bank, since it is arbitrary and now in the implementation of a loan to Iraq worth 5 billion and perhaps the intention is to exhaust Iraq economically and this in itself is a harbinger of affairs and has serious repercussions as:
A- Iraq owes the World Bank large sums and benefits will be imposed on it in the next stage. Iraq cannot get out of this crisis and it will be bargained for to implement their plans in Iraq. B - Is the goal of these families is to control Iraqi money, and that will not be done for them except after distorting the reputation of Iraq abroad and reducing its economic power to the bottom through its relationship with the World Bank and keeping Iraq indebted to them for longevity, and this will affect the choices of future generations as they do not They allow Iraq to deal with other countries in financial matters, in order to develop and boost its economy.
3. This stage represents the preparation for the next stage, which is the new global economic system. If the Iraqi financial system and economy are restricted and shackled, it will be soft at the hands of governments and governments, which are controlled by the royal families and they are already infiltrated. 4. If Iraq were to regain its strength and there was a possibility to strengthen the Iraqi dinar, it would be the first in the region and it would be a good supporter of the economy and vice versa, and it would overcome the region’s currencies and economies and would be a global power, and for this there would be no interest for the region’s countries to support the Iraqi dinar and save it from the system’s hegemony. Globalism.
5. America and most of the dominant forces in Iraq deliberately keep Iraq under the terms of pressure in order to be safe in their future in the event of revolutions, especially as they are frequently repeated. Finally, if you collect everything that has been said and put with it what will happen in terms of a shift in the digital currency, especially in the dollar and digital dealings in buying and selling, in addition to some of what we have previously mentioned about some manipulating the financial balance between Baghdad and the region, it is certain that the clues and features of the next phase will be revealed to you. My brothers who have the word and fair people in Iraq and the region, the solution is simple. We know our patriotic men who defend our rights. Our salvation is by pushing them to power, and any negligence in this matter will lead to the completion of the Tamer rings that will lead not only to the families of our word, but to the shackling and families of our children and grandchildren as well.
Salah Hassan Baban "I lost my seat in Parliament after I received more than 3000 votes in the 2018 elections, because I did not pay three million dollars to the head of the bloc that I ran with, so another losing candidate won by paying the same amount." With this "opportunistic treatment" with the candidates, SA (45 years old), a former candidate for the parliamentary seat, is likely to hold the next parliamentary elections. He says, "There are two main sources of financing party budgets for the elections, the first is through corruption in the ministries that they seize, and the second is from external support, especially Iran and Saudi Arabia."
With renewed hopes for holding parliamentary elections on October 10, talk about sources of funding for Iraqi parties in parliamentary elections has returned, raising doubts about the existence of common points or link between the depreciation of the Iraqi dinar against the US dollar and the preparation of influential Iraqi parties to finance their election campaigns, through Several outlets, the most vital of which are private banks, at a time when statistics issued by the Independent High Electoral Commission indicate that about 300 political parties and blocs have so far registered their participation in the upcoming elections with the possibility that the number of political parties and blocs will reach twice what it was in the 2018 elections, which reached 204 parties and blocs.
The political parties ’evasion in Iraq helped the law that stipulates that the parties’ work must be regulated and their sources of funding announced and not disclosed to the public opinion and the voter, provided that they have more than one source of funding, among internal sources, mainly related to ministerial contracts and investment projects that the parties obtain after their participation in The formation of the government within the political quota system in effect in the post-2003 period, specifically the large blocs, and between another external source, where candidates receive financial support from their regional sponsors, especially Saudi Arabia and Iran. While the candidate affirms p. A to “Darj” that the first step in the electoral race has really begun for the big parties by distributing some valuable gifts such as pistols and the like, in addition to food, clothes and various gifts with the purchase of the debts of some media professionals, writers, poets, as well as clerics.
S.A. believes that the political parties resorted this time to a new trick to achieve greater financial gains through lowering the local currency and raising the dollar, which would bring them huge profits, especially since most of the parties own private banks.
The Iraqi government started with the initial steps to implement the terms of the white paper that it launched and marketed a lot over the past months to support its economy by raising the price of the dollar against the local currency from 1184 dinars to 1450 dinars to the dollar at the selling prices approved by the Ministry of Finance of the Central Bank, and this step was negatively reflected on the prices of goods, commodities and needs. The daily percentage of the citizen is not less than 25 percent.
Doubts and many questions have been raised about the possibility that the influential parties in Iraq would stand behind the decision to reduce the local currency against the dollar after the collapse of the dinar, in order to benefit from it to fill the deficit of the government in which it participates and to be able to pay the salaries of its employees in addition to strengthening its budgets as the elections approach, but the Al-Kazemi government and an extension of its failure In the political, security and health files, in addition to her fear of revealing the killers of the demonstrators as she promised before her arrival to the prime minister, although they are known to her, her monetary policies caused employees to lose about 25 percent of the value of their salaries.
Political writer Ali Al-Baidar agrees with S.A. about the existence of many political parties that own private banks that have lent to the government knowing the poor conditions of the country at the current stage, and they do not have any other means to recover their money with the interest resulting from that, which reached 13 percent, It is thus pressuring the government to force it to take this step, without having any other option to redress bankruptcy, spending on state institutions, salaries of employees and retirees, and a social protection network that includes 8 million beneficiaries.
Al-Baidar describes the Iraqi Central Bank’s submission directly to political interference as “the biggest and greatest mistakes” committed by the political system, and stresses the necessity of keeping this financial institution away from political interference, as it exercises a basic task, which is drawing and implementing monetary policy.
A former employee of the Independent High Electoral Commission, who was among the cadres that supervised the polling process in 2018, confirms that the candidates' campaigns cost about 60 thousand dollars at least for each of them, and sometimes more than two and a half million dollars for the prominent leaders of the first row in the parties The window, 60 percent of it is spent on purchasing aid for the destitute groups who live below the poverty line, especially in the central and southern regions of the country and the capital, Baghdad, while the other percentages are distributed on organizing various festivals, seminars and celebrations to support the candidates' programs.
No two people disagree that the decline of the dinar and the rise of the dollar reflected on the life of the simple citizen, increased psychological and economic pressures on him, and his life became more bitter, especially with the rise in food prices, electricity and water services, and the pressures of the Corona epidemic on the social and economic situation.
Journalist Hana Riyadh believes that the argument that the government relied on to approve raising the dollar and reducing the salaries of state employees and international borrowing, due to the impact of the Corona virus on the overall economic situation in the world as a whole, is no longer useful. Oil prices have risen again and exports are still in effect. The market was already affected and led to a recession in global markets, but Iraq suffers from complex problems, including the problem of financial mismanagement and corruption. She asked: “How can we absolve the government of creating a crisis? In fact, there is manipulation and intentional to confuse the citizen, and to follow a policy of trauma treatment.
And whether Al-Kazemi is responsible for the collapse of the local currency, Riyad believes that the prime minister did not come with a popular nomination, but rather party consensus, so he is dependent on those parties.
Iraqis suddenly woke up to the decision to lower the exchange rate of the Iraqi dinar, and were hit by a monetary shock they had not experienced in decades. They were under the illusion that their currency had reached the shore of stability, and that the fluctuations that their dinars had previously known would not witness, which generated emotional and emotional reactions in their depths that made them launch a wave of tweets in which they criticized the government decision intensely, including the hashtag #Banks_the thief, their Twitter accounts, and the demonstrations went out in protest against This decision, which afflicted the poor classes that suffer from the current economic crisis, made them worse by the process of reducing the price of the dinar against the dollar, where one fifth of Iraqis live below the poverty line.
If we review the history of the Iraqi dinar, we will find that it represents the history of Iraq, with all its fluctuations and storms, as its conditions fluctuated with the fluctuations of the summer, winter, autumn and spring seasons, and its first effect was the abandonment of coins from coins and their disappearance from circulation until the paper currency prevailed in the square. It is known that the dinar went through various political eras, as Iraq continued to use Ottoman banknotes for four centuries from 1534 to 1920, until the advent of the British occupation, which replaced this currency with the Indian currency represented by the Anna and the metal rupee, which bears the image of the British King George V to be The only currency in circulation, both paper and metal.
In the thirties of the last century, coins were issued from all denominations, bearing the image of the face of King Faisal I, and printed in Britain. A year later, the Iraqi dinar was issued, which was linked to the British pound, and then it was decided to peg it to the US dollar without changing its value. After the second Gulf War, and due to United Nations sanctions, previous foreign-printed dinar issues, known as the Swiss dinar, were no longer available. A new banknote bearing the image of King Ghazi I was issued, and then coins bearing the image of King Faisal II were issued. With the republican era, the value of the Iraqi dinar decreased and deteriorated after the Iran-Iraq war, until its value reached low levels, and one US dollar was equal to 3 thousand dinars in 1995. After the fall of Saddam Hussein's regime, the Coalition Provisional Authority issued an Iraqi dinar that was printed at Delaro's presses in Britain with specifications that are difficult to forge, and the Iraqis approached the dream of stabilizing their dinar. Thus is the journey of the Iraqi dinar from the top until what it reached from a permanent turbulent history that has never calmed down, and the reasons for its collapse are known at the present time, which is primarily the dependence on the rentier economy and the slackness of the state apparatus with employees and retirees, which made the government lose its control over the Iraqi dinar as is the case In losing its control over arms and the economy, this economic crisis has nothing to do with the Corona pandemic or with the drop in oil prices, as the government is trying to justify its crises in its inability to find solutions since 2003.
The recent reduction in the price of the Iraqi dinar came, by a decision from the Minister of Finance and in agreement with the ruling parties, explaining this by implementing the white reform paper as a magic wand, that is, raising the dollar exchange rate to 1,450 dinars after it was 1,120 dinars, considering it an approved price for sale from the Ministry of Finance to the Central Bank And the promotion that this reform paper had received support from the major countries, the International Monetary Fund and the World Bank. The main reason for this reduction is due to the Ministry of Finance borrowing from banks and re-deducting them with the Central Bank in large sums, under the pretext of paying salaries, and meeting other spending needs related to services provided to citizens who are essentially non-existent.
What increases the current crisis is the fact that Iraq imports almost all of its goods and needs, and makes payments in dollars. In this, the central bank is imagining that the new price will address the crisis, that is, it will act as a balance to meet the government's needs for liquidity without studying the fundamental causes of the great economic deterioration that the Iraqi economy suffers from, and without assigning the sensitive jobs in finance and banks to experts in this field. These talents and experts have always warned about the necessity to move away from the rentier economy and move towards agriculture and industry, supporting small businesses and so on.
Reducing the dinar will not contribute to achieving development that lacks scientific plans. Rather, it would exhaust the Iraqis and increase their troubles in circumstances in which dollars are smuggled into Iran, as this contributed to the exacerbation of the crisis after the imposition of sanctions on it, and Iran is the only beneficiary of the decline The Iraqi dinar against the dollar.
Iraqis fear that the value of the dollar will continue to rise to record numbers, and here the history will repeat itself, that is, the specter of the days of the siege on Iraq looms on the horizon, as the conditions of the Iraqi people have become complicated, and the past of the economic collapse of the recent past is still present, and it is possible that the dollar is equal to about three Thousands of dinars, after the Iraqi dinar was equal to three US dollars in the seventies and eighties. There is no guarantee in the future to stop the deterioration of the Iraqi dinar.
Undoubtedly, lowering the exchange rate of the Iraqi dinar has negative repercussions on the citizen and the economy alike, because the dinar has lost 20% of its value, while the local market depends on imported goods, which will lead to higher prices, which in turn will increase the number of Iraqis who live without The poverty line is where Marx's maxim is fulfilled: the poor get poorer and the rich get richer.
Baquba (NINA) Economic specialist Jamal Shaker ruled out dropping zeros from the Iraqi currency because it leads to the collapse of the country's economy and the Iraqi dinar. He told the correspondent of the Iraqi National News Agency (NINA) today that removing the zeros from the Iraqi currency needs a strong economy and a hard currency in order to be able to re-evaluate the price of the dinar, and this is unlikely in light of a collapsed economy, but the only treatment to gradually strengthen the exchange rate of the Iraqi dinar is an economic plan and exploitation Natural resources, activating investment, controlling outlets, developing oil fields, and completing the large FAO project. He added that floating the currency does not serve the Iraqi economy and causes great harm to the market
Iraqis are facing a new phase of crises. The dinar collapses against the dollar and is reflected in rising inflation, and on widespread poverty, in a country floating on oil and its inhabitants plunged into suffering. For the second week in a row, prices of consumer and construction materials have soared in the markets. The reality is getting more and more difficult and complex, which prompted economists to warn of the escaping living problems, and increased popular discontent that has been accumulating for years. The dollar on the main struggle for trading in hard currency in Baghdad recorded a record against the dinar, as it closed Thursday, which is the last day of weekly trading, at 1,320 dinars, up from 1,200 dinars in early December.
Experts said that the new rise is caused by the government's endeavor to raise the exchange rate of the dollar so that it can reduce the gap between imports in hard currency from selling oil and what it spends on the country's operating budget, as Iraq sells oil worth about $ 3.4 billion, the equivalent of four trillion dinars, which is no It suffices to pay the salaries of employees, which amount to about 6 trillion dinars per month, and with the devaluation of the dinar, the deficit will decrease and the volume of public revenues will be enhanced.
Speculators considered that this official trend was translated into the leak of the draft of the Iraqi state budget for the year 2021, and included setting an exchange rate of 1450 dinars to the dollar, which led to a rush of citizens to buy the US currency with the escalation of fears of the monetary crisis. The draft budget included other controversial paragraphs, including significant reductions in employee salaries, and the imposition of fees on gasoline and cigarettes. A number of MPs stopped the process of leaking the draft budget by criticizing the government.
The politician and former MP, Izzat al-Shabandar, said in a tweet on Twitter that “the leakage of the Prime Minister’s Office of the draft budget that includes a proposal to raise the price of the dollar, with the Central Bank continuing to sell $ 250 million a day at a price of 1,190 dinars to banks, which led to the collapse of the dinar so that the poor became poorer and the thieves became more despicable. ". Parliament member Thamer Theban accused leaders of political parties who own banks of being behind the dollar's rise, explaining in a press briefing that Parliament had not received the 2021 draft budget.
For her part, Representative Najiba Najib said, in an interview with Al-Araby Al-Jadeed, that "the high exchange rate of the dollar against the dinar has greatly affected the prices of goods in the Iraqi market, especially imported consumer goods." She added that "95 percent of the Iraqi market supply is imported goods in hard currency, which means it is directly linked to the dollar price, and thus the rapid reflection on the purchasing power and the standard of living of the individual, who suffers from poor cash liquidity due to delayed salaries and high unemployment to alarming levels."
Najeeb explained that "most of the buying and selling operations inside the Iraqi market and transactions such as selling cars, real estate and rent allowances are paid in dollars, so the effects of the high price of the US currency will cause societal problems in the coming days, unless the Iraqi government and the Central Bank reconsider the financial and monetary policy and control the hard currency market." in the country". According to Jamal Cougar, a member of the Finance Committee in the Iraqi Parliament, there is a government approach to raise the price of the dollar with the aim of reducing the large deficit in the budget bill next year.
Cougar explained, in a press briefing he gave in the parliament building to reporters, that "there is a government approach to gradually increase the exchange rate, because the 2021 Budget Law has a large fiscal deficit, and one of the ways to reduce this deficit is to increase the price of the dollar."
And he indicated that "the price of the dollar will continue to rise in the coming days, which will greatly affect citizens." Also, a member of the Economy and Investment Committee in the Iraqi Parliament, Nada Shaker Jawdat, confirmed the existence of "great popular concerns about the high price of the dollar against the Iraqi dinar." It showed the danger of this rise on the prices of goods, "where the affected are the poor, who constitute the largest proportion of Iraqi society." She explained that the primary beneficiaries of this are currency dealers, in addition to a number of merchants, stressing in a statement the need for the Iraqi government and the competent authorities to put in place quick solutions to control the money market.
Iraqi citizens complained about the exorbitant price hikes that affected many goods and consumer goods that are in high demand in such days. In an interview with Al-Araby Al-Jadeed, citizen Mahmoud Al-Jumaili said, "The rise in the price of the dollar suddenly, along with talk about the possibility of its rise to more than 1500 Iraqi dinars, confused the Iraqi market and caused a noticeable rise in prices."
He pointed out that the rise in the dollar pushed citizens to buy their essential needs for fear of being affected by the exchange rate, which led to an increase in the prices of these materials by more than 20 percent. Al-Jumaili added that “the Iraqi market is soon affected by the rise in the price of the dollar due to the greed of some merchants who live on Crises, to raise the prices of goods, taking advantage of the absence of state authority and market control. "
He drew attention to "the continuation of the exchange rate of the dollar to rise in addition to the loss of control over the Iraqi market foreshadowing a real catastrophe that would lead to an explosion of anger on the Iraqi street, which suffers from very miserable living conditions." Citizen Uday al-Akidi said in an interview with Al-Arabi Al-Jadeed that the value of the Iraqi dinar began to gradually collapse, accompanied by a significant increase in prices within the market.
And he indicated that "the living situation in Iraq is getting worse and there is no hope for the Iraqi economy to recover again, in light of the corrupt's control over the state's capabilities and resources." He added that "all that is imported into the local market, including building materials, electrical appliances, foodstuffs, and auto parts that are often sold in dollars, there has been a big jump in prices, inconsistent with the size of the rise in the dollar exchange value." The World Bank had expected in a previous report that the Iraqi economy would contract due to the drop in oil prices and the outbreak of the Corona pandemic, and as a result, it was likely that the double deficit would increase and increase pressure on the exchange rate and the reserves of the Central Bank. Connotations
No foreign reserves support the Iraqi dinar for years * Zwanah: Issuing a new currency needs economic and financial ground and political support
Iraqi dinars are tearing up in the streets of Mosul and other areas under the mob campaign organized by the American occupation forces in Iraq, while many are wondering about the fate of the Iraqi currency and the future of monetary dealings in Iraq, and some analysts believe that as long as the fate of Iraq and its people is no longer clear, how can one expect what the fate of the dinar will be. ?! Will the current currency remain, or will it be exchanged and which central bank will issue it, and where are the corresponding reserves, or will the American dollar replace it at any price, or will barter operations be within the Iraqi market are the most popular ?! The Iraqi dinar declined inside Iraq and after the fall of Baghdad In the hands of the occupiers, the price of the dollar becomes between 3500 and 4000 Iraqi dinars compared to 2000 dinars at the beginning of the war, while it is still the currency in circulation there and is being dealt with in some markets of neighboring countries, including the Jordanian market, in small quantities and a narrow range.
Mr. Zayan Zawana, an economic and banking marketing expert, believes that the Iraqi currency of all its Swiss and other editions has lost its value in all the correct legal and jurisprudential meanings and concepts of the currency, and that is not now, but for a long time, due to the lack of foreign currency reserves against it, explaining in a statement to the "Constitution" that the issuance of the Iraqi currency For more than ten years, it was a matter of managing the affairs of people inside Iraq, as they were not based on any monetary or financial support and were not matched by reserves that supported the legal currency, especially in light of the restriction imposed on Iraq for a period of 13 years, and the Iraqi government did not control its resources Of the oil exports that were in the hands of the United Nations under the memorandum of understanding.
The expert Zwanah, who was one of the former senior officials in the Central Bank of Jordan, stated that the prices of the Iraqi dinar, in its various canceled and used versions, were the result of dealings and speculation in the markets, stressing that the price difference between the different versions of the Iraqi dinar has no value in relation to the evaluation of the currency. The Iraqi dinar is the Iraqi dinar. . He said that it is difficult to predict what will happen to the future of the Iraqi dinar in light of the chaos and chaos that we see today in Iraq and the absence of an Iraqi administration or authority for monetary affairs, a “central bank,” so forecasting the future cannot take place in this situation He explained that what makes the matter more difficult is that the situation that prevailed before the occupation is the existence of an original Iraqi dinar, but it is officially canceled, but it is dealt with in the northern areas under the control of the Kurdish parties, while there are other editions of the dinar used in all regions of Iraq, and there was a price for each who are they. In response to a question about the possibility of issuing a new Iraqi currency, Mr. Zawana pointed out that any new currency must be based on a monetary, financial and political economic scenario, and this does not exist now, in addition to that Iraq, as it is known, does not now have any foreign reserves that it can rely on to issue a new currency. .
He said that the new monetary issue should have strong political support, and he wondered about the extent of the Americans ’desire to issue a new Iraqi currency for which they would provide support so that stability returns to life in Iraq, including monetary stability, stressing that monetary stability is very important for the continuation of life in a normal manner. He said that no one now is He pays attention to the importance of monetary stability, which is one of the most important and sensitive matters that should concern every Iraqi citizen, as currency is the life of the people, the economy and the nation, indicating that people now occupy themselves by analyzing what happened militarily and politically and do not pay attention to their lives and to the extent of the destruction that befell them and their institutions, including the bank Central and dinar.
Mr. Zwana clarified that the ability and desire of the Iraqi monetary parties, experts and cadres of the Central Bank, and the Ministry of Finance must also be taken into consideration in dealing with the new data after the occupation, and this undoubtedly will place a great responsibility on the Americans in dealing with officials and experts of the Central Bank and Finance if they wish to do so or Bringing experts from abroad, indicating that any new monetary arrangement must take into account coordination between the United States and the International Monetary Fund to set up clear mechanisms and take the matter into all its legal and practical dimensions in light of the current conditions in Iraq.
On the issue of the Iraqi currency that has been canceled since the beginning of the nineties and is being circulated in the north of Iraq, he said that no one can make a change in this matter based on the data that we see now, especially since this matter has political implications. On the other hand, the Americans, the other currency is used among all the Iraqi people in all regions. No one can expect which of the two currencies will be exchanged in the future. On the possibility of substituting the dollar in principle as another or alternative currency, the expert Zwanah said that “dollarization” may be part of the solutions imposed by the nature of the market in light of unstable conditions and the absence of monetary authority until a new currency is issued with economic, monetary and political data.
On the other hand, foreign exchange market sources in Amman indicated yesterday that the trading price in Iraqi dinars remained stable yesterday, as the price of one million Iraqi dinars of the Swiss edition bearing the image of horses ranged between 25,000 Jordanian dinars for purchase and 28,000 dinars for sale. While the price of the print bearing Saddam Hussein's image per million Iraqi dinars ranged from 11 thousand Jordanian dinars for purchase and 14 thousand dinars for sale, and it is noticed the expansion of the margin between the sale and purchase price as a result of the increased risk of carrying the Iraqi currency, and the values of the circulation of the Iraqi dinar in Amman in a narrow range with some money changers.