The prices of the Kifah Stock Exchange were recorded - Baghdad 124,000 dinars per 100 dollars.
Buying and selling prices in banking shops:
the selling price of the dollar = 124,500 dinars.
The purchase price of the dollar = 123,500 dinars.
The Markets:
Asian markets closed mixed NIK red down by % HSI red down by 1.22% SHANG green up by %
The UK markets are currently trading mixed the 2 down are .05% and .12 down the others are up from .05% to .37 %
OUr futures are currently in the red the DOW at 25304 down by .35% SNP at 3040 down by .28% NDX 10 10007 red down by .04%
Precious Metals:
Gold green at 1762 Silver is red at 17.80 Copper is green at 266 Platinum is green at 808
Brent 40 WTI 39
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1173.4000 |  1226.7000 | 1191.9000 | 1191.9000 | 1191.9000 | -0.5000 | 17:49 |
| USD/VND | 23264.0000 | 23267.0000 | 23190.5500 | 23190.5500 | 23190.5500 | 5.6500 | 01:30 |
| USD/CNY |  7.0772 | 7.0792 | 7.0772 | 7.0767 | 7.0767 | 0.0004 | 23:54 |
| USD/KWD | 0.3073 | 0.3083 | 0.3077 | 0.3074 | 0.3077 | -0.0003 | 04:01 |
| GBP/USD | 1.2440 | 1.2444 | 1.2463 | 1.2403 | 1.2418 | 0.0022 | 05:17 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 97.5000 | 06:03 |
| USD/IDR | 14250.0000 | 14257.0000 | 14283.0000 | 14107.0000 | 14144.0000 | 110.0000 | 05:13 |
Things in the News:
Iraqi Articles:
Parliamentary Finance: The Borrowing Law passed by Parliament allowed the government to borrow until the end of this year
Member of the Parliamentary Finance Committee, Abdul Hadi Al-Saadawi, confirmed on Thursday that the borrowing law passed by Parliament yesterday allowed the government to borrow until the end of the current year (for six months only and cannot after that).
Al-Saadawi said in a radio interview followed by "The Economy News", "The borrowing law passed by Parliament allowed the government to borrow until the end of this year (for six months only and cannot after that), and with amounts confined by $ 5 billion for external loans and $ 15 billion for internal loans." , Considering it "the worst move the government has made, but it is embarrassing because of the financial crisis."
He added, "These loans will address several topics, the first of which are the salaries of state employees, retirees, and the social protection network, so that they will be safe (without deduction) until the end of the year. In addition to them, those appointed to permanent owners within the owners' movement in the past year will be added to them, as their salaries will be secured because many of them did not receive them Despite the issuance of orders to appoint them since 2019. "
He added, "These loans will address several topics, the first of which are the salaries of state employees, retirees, and the social protection network, so that they will be safe (without deduction) until the end of the year. In addition to them, those appointed to permanent owners within the owners' movement in the past year will be added to them, as their salaries will be secured because many of them did not receive them Despite the issuance of orders to appoint them since 2019. "
He pointed out that "contracts will be contracted by the Ministry of Health with graduates of the past year who have not yet begun their work, for the purpose of benefiting from those energies in light of the need for health cadres as a result of the outbreak of the epidemic, in addition to supporting the health sector by providing the required liquidity and authority to the Minister of Finance to face any emergency that passes The country is in the midst of a pandemic. "
Noting that "the loans will include addressing the ongoing development projects in the regions so that they do not disappear."
Al-Saadawi warned, "From a personal point of view, I believe that the government is unable (after the approval of the borrowing law) to send the budget in 2020 to Parliament, in which case the Ministry of Finance and the concerned authorities will prepare to prepare the budget for the next year."
Al-Saadawi warned, "From a personal point of view, I believe that the government is unable (after the approval of the borrowing law) to send the budget in 2020 to Parliament, in which case the Ministry of Finance and the concerned authorities will prepare to prepare the budget for the next year."
A member of the Finance Committee said, "The worst step the government committed is the borrowing process - but it is embarrassing because of the financial crisis that is ravaging the country - because the World Bank announced in the Kuwait Conference clearly and explicitly that the continuation of the government of Iraq in external borrowing will lead the country to the collapse of the currency and the financial market alike, The Finance Committee has stopped foreign borrowing completely in last year's budget, "indicating that Iraq will go through its worst stages as these loans will have profits and benefits and the country must sell oil to meet those benefits and profits."
KRG’s Reform Law to Go into Effect on 2nd July: MP
The reform law on salaries, pensions, and allowances will go into effect on 2nd July by the Kurdistan Regional Government (KRG), said MP Omed Khoshnaw from the ruling Kurdistan Democratic Party (KDP).
Earlier in January, Kurdistan Region Parliament unanimously passed the Reform Bill prepared by the KRG. It includes a series of measures designed to provide more certainty and accountability on salaries, pensions, and allowances for public servants.
MP Khoshnaw said this would be a major progress in KRG’s plan to fight corruption, and, therefore, it is necessary for the parliament to resume its sessions so as to enable the legislature to monitor the steps towards reforms.
Kurdistan Parliament suspended its operation two weeks ago after an MP and several administration staffers tested positive for the novel coronavirus.
Khoshnaw argues that after 14 days of suspending the parliament and following strict measures introduced at the facility, it is now safe to resume the sessions and discuss the current challenges, including the virus outbreak, the financial hardship, and the implementation of the reform bill.
He also noted that the parliament is needed now to urgently convene and discuss the growing instability in the disputed Kurdish territories which are under the control of the Iraqi government.
Oil prices continue to decline
Oil prices continued to decline after falling more than 5% during the previous session, as the record increase in US crude stocks and the rapid spread of Covid-19 cases cast doubt on the recovery of fuel demand.
US West Texas Intermediate crude futures fell 2% to $ 37.21 a barrel, after falling $ 2.4 yesterday.
Brent crude futures also fell by 1.8% to $ 39.59 a barrel, after falling by $ 2.3 yesterday.
It is noteworthy that prices fell after the EIA data showed that stocks increased by a much larger amount than expected, but there is another opinion that indicates that the increase of 1.4 million barrels came due to a series of Saudi shipments that were booked by American refiners when prices fell in March . Those shipments are slated to decline soon.
It is expected that the demand for fuel will remain limited in light of the growing fears of a second wave of cases of Covid-19 in several US states where the general isolation measures have been eased, in addition to the rapid spread of the disease in South America and South Asia.
America and Britain support a joint agreement between Erbil and Baghdad
The delegation of the Kurdistan Regional Government, headed by Qobad Talabani, Deputy Prime Minister of the region, met on Thursday with the ambassadors of the United States of America and Britain in Iraq.
A statement issued by the delegation stated that during the meeting held today, the differences and outstanding issues were discussed between Erbil and Baghdad and the latest developments in the situation in Iraq.
The statement added that the ambassadors expressed their support for reaching a common understanding to resolve the differences and outstanding issues between Erbil and Baghdad, especially in light of the spread of the Corona virus and the increasing risks of ISIS organization in the disputed areas.
It is scheduled to hold the delegation of the Kurdistan Regional Government negotiating its last meetings for this week with the delegation of the Federal Government with the aim of reaching a comprehensive agreement for the differences and all outstanding issues between Erbil and Baghdad
CBI, ISX,Dinar Guru:
CBI Update:
Click on the link above for the latest update.
The CBI for rate is 1190.
The currency auction total sales amount $ not updated for THUR.
including cash sold
ISX Update: At my last checking
Shares Traded: not updated for today
Value Traded: not updated for today
closed
6-25-2020 Newshound Guru Pimpy Article "Iraq officially discloses the date for Al-Kazimi's visit to Washington" This is big man. I don't know why. Call me crazy it's just a vibe that I have. I don't know how to explain it but something tells me this visit is going to be the big visit. I think we're gonna see some great things... hopefully Trump himself gets into this meeting and what we find out is they're very happy about the progress that's been made and we restore the sovereignty of Iraq and remove all restrictions off their currency and allow them then to trade on the Forex...it'll change the rate of an Iraqi dinar if it gets on Forex. There has been a lot of really positive and good news. A lot of good positive vibes. I like what's going on. I'm excited about it...
6-24-2020 Intel Guru MarkZ [via PDK] In Asia I got an overnight report that the street rate (Dong) was supposed to start at about .47 cents then let it float. Now I am hearing it will start at a 1 to 1 parity and then let it float...
6-24-2020 Intel Guru Bruce [via WiserNow] ...I believe it was...on Thursday or Friday we were already pointing toward early this week...So we came to find out...there’s still a little bit of clean up that was needed...my understanding is that took place already – so I feel as though we’re in position where this could go and we could get notified... So that points well for us over the next couple of days...Now I am not trying to call it...I’m just saying the information I have is pointing towards the next 48 hours... We are looking at very good rates – Don’t know what they are – I had an idea but they change –and so you’re going to be fine on that... I just feel like this thing is coming to an end...
6-24-2020 Newshound Guru MilitiaMan Article: "Parliamentary Economy: The white paper includes 3 stages, starting with the reform of niches and currency auctions" There is nothing at all bad with this openness in regard to pushing forward to a market economy. Stopping the auctions will force the mechanism to be applied.. That imo is the first step and it is a very important one!!! imo Looking so very good now...imo
6-24-2020 Intel Guru MarkZ [via PDK] [More can kicking?] I don’t think they are kicking it anymore…they seem to be full tilt getting it out the door...I think we are awfully close to “the boy who cried wolf” being right. I believe we are exceptionally close now. Do I think a day or two? I hope it is.
6-24-2020 Newshound Guru Pimpy ...in the foreign expo for Iraq, Allaq gave a speech...basically what he was saying was before we can go international (he was talking about the dinar) we have to make sure we have reform that makes everything stable internally. The economy needed to be stable. The banking needed to be stable. Pricing needed to be stable. Low and behold today guess what happens... Article: "The Central Bank of Iraq announces the success of its efforts to reform the economic environment and achieve stability in prices". This is why so many people feel like the dinar is going to happen this year - 2020...these things are exciting...this is great news...so if the stability locally is done, what does that mean for us internationally? It's looking good guys - really good. I have faith this thing is going to happen really soon...
6-24-2020 Newshound Guru Adam Montana We are looking at constant HCL news, constant mention of monetary change, constant clues that we are on the brink of a monumental event. I'm ready. There is just so much going on right now that smells like "HCL"... it's almost overwhelming. You can bet the gurus are going to be going nuts here pretty soon. Hang on to your hats, friends... stay grounded...and enjoy the ride. Go Kazzammie. Go HCL. GO RV. [post 2 of 2]
6-24-2020 Newshound Guru Adam Montana ...I made mention last week that we are in a great spot, and I was hoping to see some movement on the HCL. Article quotes: "The oil and gas law will be included in the upcoming sessions."; "the current government has a clear and ongoing project in the process of economic and financial reform"; "Al-Alaq, announced that the Central Bank of Iraq has succeeded in reforming the economic environment and stabilizing prices"; "The white paper includes 3 stages, starting with the reform of niches and currency auctions" And...seriously, it just kept going. There are times when I find it perfectly acceptable to be calm, sit back, and not get too excited. This is not that time. [post 1 of 2....stay tuned]
6-24-2020 Newshound Guru Don961 Article: "Parliamentary Economy: The white paper includes 3 stages, starting with the reform of niches and currency auctions" Quotes: "the economic white paper that the government intends to implement in the coming periods aims at a comprehensive reform of the economic system,"; "...the reformist white paper and its content...will be a road map for implementing a set of economic measures," noting that "calling it white because it is a new reform paper will be written in cooperation between the government and parliament away from the interference of political parties."
6-24-2020 Intel Guru Frank26 ...look what I did. I moved the decimal point over three places and by doing that I lifted 3 zeros electronically. Who has the power to do that? The CBI. With who? The Fab 4 because they give them the authority. The IMF, World Bank, The U.S. Treasury, The President of the United States...IMO the "white papers" contain a rate and a date...that was authorized...this is the reason why it's so hard to get the Iraqi dinar right now...2 and a half years ago did you notice that it was starting to get harder to get the dinar? Now can you find it? These places are drying up because of the monetary reform benchmarks that were met in order to have the white papers we have today... [Post 2 of 2]
6-24-2020 Intel Guru Frank26 ...my broker called me around 3:00 in the afternoon yesterday to say to me, 'Frank, we're putting a freeze on the selling of the Vietnamese dong.' And I said, really? We already have a freeze on the Iraqi dinar...the liquidity of this currency was accomplished as a benchmark in order for them to come out with the Real Effective Exchange Rate of the Iraqi dinar...the Iraqi dinar...exchange rate for it is .000869741 somewhere in that ball park...so when you take that decimal point and move it over to the right 3 places...rounds out to about .86 cents and the goal is to get it to 1 dollar... [post 1 of 2....stay tuned]
6-24-2020 Newshound/Intel Guru Mnt Goat The WOW news of the week is the CBI has finally spoken up. They issued a “white paper” again on the financial sector of Iraq. It is all very good as they talk about going international and completing the “project to delete the zeros” in the “coming period”. So again, we just have to sit tight and wait it out. Please, please, please don’t sell you dinar. You are already RICH only you have to wait a bit to go to the bank. We are slowly progressing to the end of this ride and it will not be much longer. How much longer? We are now seeing many of the reforms we could only pray for these last couple years. Yes, they are actually doing them. All I can tell everyone NOW is it will be much sooner than later and certainly not January 2021.
6-24-2020 Intel Guru Bruce [via WiserNow] ...I believe it was...on Thursday or Friday we were already pointing toward early this week...So we came to find out...there’s still a little bit of clean up that was needed...my understanding is that took place already – so I feel as though we’re in position where this could go and we could get notified... So that points well for us over the next couple of days...Now I am not trying to call it...I’m just saying the information I have is pointing towards the next 48 hours... We are looking at very good rates – Don’t know what they are – I had an idea but they change –and so you’re going to be fine on that... I just feel like this thing is coming to an end...
6-24-2020 Newshound Guru MilitiaMan Article: "Parliamentary Economy: The white paper includes 3 stages, starting with the reform of niches and currency auctions" There is nothing at all bad with this openness in regard to pushing forward to a market economy. Stopping the auctions will force the mechanism to be applied.. That imo is the first step and it is a very important one!!! imo Looking so very good now...imo
6-24-2020 Intel Guru MarkZ [via PDK] [More can kicking?] I don’t think they are kicking it anymore…they seem to be full tilt getting it out the door...I think we are awfully close to “the boy who cried wolf” being right. I believe we are exceptionally close now. Do I think a day or two? I hope it is.
6-24-2020 Newshound Guru Pimpy ...in the foreign expo for Iraq, Allaq gave a speech...basically what he was saying was before we can go international (he was talking about the dinar) we have to make sure we have reform that makes everything stable internally. The economy needed to be stable. The banking needed to be stable. Pricing needed to be stable. Low and behold today guess what happens... Article: "The Central Bank of Iraq announces the success of its efforts to reform the economic environment and achieve stability in prices". This is why so many people feel like the dinar is going to happen this year - 2020...these things are exciting...this is great news...so if the stability locally is done, what does that mean for us internationally? It's looking good guys - really good. I have faith this thing is going to happen really soon...
6-24-2020 Newshound Guru Adam Montana We are looking at constant HCL news, constant mention of monetary change, constant clues that we are on the brink of a monumental event. I'm ready. There is just so much going on right now that smells like "HCL"... it's almost overwhelming. You can bet the gurus are going to be going nuts here pretty soon. Hang on to your hats, friends... stay grounded...and enjoy the ride. Go Kazzammie. Go HCL. GO RV. [post 2 of 2]
6-24-2020 Newshound Guru Adam Montana ...I made mention last week that we are in a great spot, and I was hoping to see some movement on the HCL. Article quotes: "The oil and gas law will be included in the upcoming sessions."; "the current government has a clear and ongoing project in the process of economic and financial reform"; "Al-Alaq, announced that the Central Bank of Iraq has succeeded in reforming the economic environment and stabilizing prices"; "The white paper includes 3 stages, starting with the reform of niches and currency auctions" And...seriously, it just kept going. There are times when I find it perfectly acceptable to be calm, sit back, and not get too excited. This is not that time. [post 1 of 2....stay tuned]
6-24-2020 Newshound Guru Don961 Article: "Parliamentary Economy: The white paper includes 3 stages, starting with the reform of niches and currency auctions" Quotes: "the economic white paper that the government intends to implement in the coming periods aims at a comprehensive reform of the economic system,"; "...the reformist white paper and its content...will be a road map for implementing a set of economic measures," noting that "calling it white because it is a new reform paper will be written in cooperation between the government and parliament away from the interference of political parties."
6-24-2020 Intel Guru Frank26 ...look what I did. I moved the decimal point over three places and by doing that I lifted 3 zeros electronically. Who has the power to do that? The CBI. With who? The Fab 4 because they give them the authority. The IMF, World Bank, The U.S. Treasury, The President of the United States...IMO the "white papers" contain a rate and a date...that was authorized...this is the reason why it's so hard to get the Iraqi dinar right now...2 and a half years ago did you notice that it was starting to get harder to get the dinar? Now can you find it? These places are drying up because of the monetary reform benchmarks that were met in order to have the white papers we have today... [Post 2 of 2]
6-24-2020 Intel Guru Frank26 ...my broker called me around 3:00 in the afternoon yesterday to say to me, 'Frank, we're putting a freeze on the selling of the Vietnamese dong.' And I said, really? We already have a freeze on the Iraqi dinar...the liquidity of this currency was accomplished as a benchmark in order for them to come out with the Real Effective Exchange Rate of the Iraqi dinar...the Iraqi dinar...exchange rate for it is .000869741 somewhere in that ball park...so when you take that decimal point and move it over to the right 3 places...rounds out to about .86 cents and the goal is to get it to 1 dollar... [post 1 of 2....stay tuned]
6-24-2020 Newshound/Intel Guru Mnt Goat The WOW news of the week is the CBI has finally spoken up. They issued a “white paper” again on the financial sector of Iraq. It is all very good as they talk about going international and completing the “project to delete the zeros” in the “coming period”. So again, we just have to sit tight and wait it out. Please, please, please don’t sell you dinar. You are already RICH only you have to wait a bit to go to the bank. We are slowly progressing to the end of this ride and it will not be much longer. How much longer? We are now seeing many of the reforms we could only pray for these last couple years. Yes, they are actually doing them. All I can tell everyone NOW is it will be much sooner than later and certainly not January 2021.
Catnip"s Corner:
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ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kazemi receives the Jordanian Foreign Minister and his accompanying delegation
The Prime Minister, Mr. Mustafa Al-Kazemi, received today, Wednesday, Jordanian Foreign Minister Ayman Al-Safadi and his accompanying delegation.
Al-Safadi conveyed to the Prime Minister the greetings of His Majesty King Abdullah II of the Hashemite Kingdom of Jordan, as well as the greetings of the Jordanian Prime Minister, Mr. Omar Al-Razzaz, their full support to Iraq in all fields and their desire to strengthen relations between the two countries.
During the meeting, Mr. Al-Kazemi stressed the importance of the Iraqi-Jordanian relations, cooperation between the two countries in economic fields, and issues of common concern, which will witness a rapid activation equal to the size of the challenges facing the two countries, especially cooperation in the field of fighting the Corona pandemic, and the rest of the bilateral strategic files.
Media office of the Prime Minister
June 24, 2020
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ARTICLE 2-A (from Government of Iraq twitter account)
6-24-2020 around 12 Noon Eastern
Watch this short video clip of Iraq’s Deputy PM and Minister of Finance @AliH_Allawi in which he affirms the @IraqiGovt’s commitment to protecting the salaries and pensions of public sector workers on low and middle income:
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ARTICLE 2-B (from Government of Iraq twitter account)
6-24-2020 around 1:15 pm Eastern
The @IraqiGovt is committed to protecting the salaries and pensions of state employees on low income.
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ARTICLE 3
Al-Kazemi appoints Hussain Al-Hindawi as election adviser
Editing Date: 6/24/2020 23:06 • 90 times read
Ayna News - Baghdad
A source in the Prime Minister confirmed that Prime Minister Mustafa Al-Kazemi chose Dr. Hussein Al-Hindawi as an advisor for election affairs.
The source pointed out, "Assigning Al-Hindawi to this task reflects the prime minister's interest in conducting early, fair and free parliamentary elections that take into account international professional standards."
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ARTICLE 4
Al-Sudani: Mobile phone companies owe the government half a billion dollars
Editing Date: 6/24/2020 17:27 • 57 times read\
[Baghdad_Eye]
Member of Parliament Muhammad Shi'a Al-Sudani confirmed o Tuesday that mobile phone companies are required by the Iraqi government $ 500 million, noting that these companies have not paid the required amount yet.
Al-Sudani said in a televised interview that I followed, “The Al-Kazemi government must act immediately to collect the debts of the mobile phone companies, which amount to approximately $ 500 million, and it has not yet been paid for partisan and political reasons and for courtesy [O and S] at the expense of the state’s interest.”
Al-Sudani added, “4 ministries are subject to quotas in Mustafa Al-Kazemi’s government and are controlled by their political parties and blocs.”
The Parliamentary Labor and Social Affairs Committee had revealed earlier, the volume of taxes on telecommunications companies inside the country, while confirming that it amounted to 1.5 billion dollars
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ARTICLE 5
Counter-terrorism: Al-Kazimi's directives focused on continuing quality operations
Editing Date: 6/24/2020 17:21 • 48 times read
[Baghdad_Yain]
The Counter-Terrorism Agency confirmed its continuation of specific operations to pursue the remnants of the ISIS terrorist gangs, while noting that the directives of the Commander-in-Chief of the armed forces focused on continuing
the specific operations.
The spokesman of the Anti-Terrorism Agency, Sabah Al-Numan, said today, Wednesday, that "the directives of the Commander-in-Chief of the Armed Forces focused on continuing the qualitative operations," noting that "these directives have become a working guide for the agency and have been reflected in the duties that it carries out during the past, present and future period."
He added, "The Counter-Terrorism Service is continuing with its qualitative operations to pursue the remnants of ISIS gangs and prevent them from investing in rugged areas far from city centers."
He pointed out that there is a large intelligence work and information to be provided to the executing units, based on a comprehensive view of how to deal with the remnants of the terrorist ISIS remnants.
He continued, "The lightning-fast, rapid and qualitative operations, as well as the benefit of air support, will not allow ISIS gangs to obtain a safe haven."
He explained, "The Counter-Terrorism Service has operations that will target the remnants of ISIS wherever they are located. "
The anti-terrorist agency carried out a specific operation in the Qara Gogh Mountains near Makhmour, which resulted in the killing of 12 terrorists.
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