Friday, June 5, 2020

WOTS THUR JUN 4 2020

Foreign currency markets in Iraq recorded, today, Thursday, a stability in the exchange rate of the US dollar against the Iraqi dinar.
The prices of buying and selling dollars in banking companies and offices are as follows:
The selling price of one dollar is 1245 dinars, or 124 thousand and 500 dinars per hundred dollars.
The purchase price of the dollar is 1235 dinars, or 123 thousand and 500 dinars per hundred dollars.

The Markets:
Asian markets closed mixed  NIK up by .36%   HSI up by .17%  SHANG down by .14%
UK markets are currently trading in the red from >41% to .93%
Our futures are in the red  DOW at 26091 down by .52%  SNP down  by .54 %   NDX down by .27%

Precious Metals:
Gold green at  1707   Silver green  at 17.97   Copper red at 246  Platinum green at 835
Brent  39+  WTI 36


Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1164.7000  1218.2000 1192.5000 1191.2000 1191.7000  -0.9000 15:30
 USD/VND  23264.0000  23267.0000 23241.4000 23239.6600 23239.6600  3.6200 01:30
 USD/CNY  7.1202  7.1222 7.1289 7.1144 7.1144  0.0052 05:09
 USD/KWD  0.3077  0.3087 0.3079 0.3078 0.3079  -0.0001 04:57
 GBP/USD  1.2537  1.2538 1.2580 1.2500 1.2573  -0.0037 05:09
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  97.5000 06:03
 USD/IDR  14165.0000  14181.0000 14192.0000 14041.0000 14062.0000  105.0000 05:07

Things in the News:
This is the premise of solar geo­engineering via stratospheric aerosols.  

Iraqi Articles:

Proposals from deputies to fill the financial deficit .. Among them are the dinar and currency selling outlets

 Representatives from different parliamentary blocs and committees called today, Wednesday, for Prime Minister Mustafa Al-Kazemi to send the biographies of the remaining ministers from the ministries taking into account the "required specifications", while they presented eight proposals to bridge the budget deficit and cross the financial crisis facing the country.
Representatives Muhammad Sahib al-Daraji, Muhammad Shi`a al-Sudani, Adnan al-Zarfi, Muzahim al-Tamimi, said at a joint press conference, held today, in the Parliament Building, and attended by Shafaq News, that the House of Representatives began today to hold its sessions with members going to activate the work of the parliament’s committees and continue their legislative tasks And supervisory, in light of the challenges facing Iraq, stressing the need to support the government in taking decisions that enable it to face the health, economic and financial crises and the completion of the necessary legislation and transitional phase requirements to reach a date for early elections in accordance with the aspirations of the people and the reference directions.
They added, that the council is waiting for the government to send its candidates from the remaining ministerial portfolios to seven important ministries for the purpose of displaying CVs in order for the deputies to vote, calling on the prime minister to observe the specifications required in the leaders of these important ministries away from quotas and partisanship towards choosing the competencies that are able to bear responsibility in this Envelope.
They also called on the political blocs to abandon the tendency of quotas and not to adhere to quotas and the so-called benefits and estimate the critical conditions the country is going through and to assist the prime minister in selecting members of his team to help him perform his duties and implement his ministerial platform.
They stated that they are in constant mobility and communicate with various social actors and personalities with experience in the economic sector, the private sector, universities and study centers to reach solutions to overcome the severe financial crisis that coincided with the impact of the effects of the global corona pandemic on oil prices, whose revenues are the main source in the federal budget.
The deputies clarified that they are following up the proposals put before the Council of Ministers regarding the remedies required to reduce the deficit so that the state can pay all its obligations, indicating that they are performing the government's direction in reducing the salaries of the three presidencies and special grades and senior officials and achieving social justice in distributing salaries to all eligible according to the laws Iraqi as a first stage away from reducing the salaries of the remaining and retired employees except for what is mentioned due to the living conditions and the survival of most of the services provided by the private and public sector at the same prices of rents, services and other obligations which burden the citizen at the present time.
They pointed out that any governmental or parliamentary action towards reducing spending and austerity must be accompanied by a real approach by the government to combat administrative and financial corruption and stopping the processes of waste of public money that have occurred previously or will happen through activating the role of the oversight bodies and following up on issues raised by members of the House of Representatives and the media and specifically the promoter With the priorities, documents and documents, and that there be periodic clarifications on what these measures are from the government and the judicial authorities, and we call on the judicial authority to be present in this field in a way that enhances the citizen’s confidence in the state and its authorities in fighting corruption.
These deputies said that, in order to enhance the government's efforts to take measures to reduce spending and maximize revenue, we offer the following solutions and proposals:
1_ Stopping work at currency selling outlets, while preparing instructions whereby all importers are required to submit lists that include imported goods for the purpose of customs accounting in the General Authority of Customs and Taxes before transferring funds and notifying the Central Bank of accounting according to official correspondence accompanied by customs bills and taxes.
2_ Changing the dinar exchange gradually in a way that does not affect the citizen and that guarantees the provision of cash liquidity needed by the state.
3_ Review the import curriculum and identify possible goods and products to issue a decision banning their import to make room for government companies in the Ministry of Industry and the private and mixed sector to qualify their factories and produce these goods to create jobs and maintain hard currency instead of taking them out of the country.
4_ Take immediate and adequate measures to control the border crossing points, not to allow any unofficial portal, assign officials at a high level of integrity and courage able to control these borders, implement laws related to customs tariffs, protect the national product, prevent importation and apply the agricultural calendar.
5_ Requiring mobile phone companies to pay fines, benefits and taxes in an immediate manner with a legal technical review of the contracts of these companies to ensure the national interest with the activation of the fourth license and present it to the public through the competent ministry.
6- Activating the tax system and reviewing the tax laws in a manner that allows for the development of this sector and the important revenues it represents for the state.
7_ Re-activate the initiative of the Central Bank to allocate funds for loans to the industrial, agricultural and real estate bank to encourage the private sector to borrow and implement projects that create real development that the restrictions and controls for granting loans be eased as well as allocate the necessary funds for lending to small and medium-sized enterprises in order to generate job opportunities and create small projects You can be a source of living for young people at the present time.
8_ Encouraging cooperative societies and markets in the mixed sector to import foodstuffs in order to control market prices and not to affect the citizen's living conditions and needs.  
They explained that these and other proposals that would provide funds to bridge the deficit on the one hand, and we see that these amounts are directed towards supporting the social protection network, the ration card, medicines, and water sterilization, while supporting the educational and educational process and ensuring all its needs.  
The deputies continued their statement, we, the signatories of this statement, announce that we are with any national effort from the political blocs in Parliament to support the state and its executive, legislative and judicial powers in order to enable the country to overcome this crisis and we are confident that this people with their history of sacrifice is able to overcome this crisis, especially It is a promising country that possesses the natural and human resources, competencies and capabilities that facilitate overcoming this crisis.

The central bank sends an open letter to the three presidencies ... and this is the text



The Board of Directors of the Central Bank of Iraq sent an open letter to the three presidencies.
In its letter, the bank expressed in its letter, the {Euphrates News} agency obtained a copy of it, expressing its “deep concern that some members of the House of Representatives resorted to the media and launched inaccurate and undocumented accusations towards the monetary authority in the country. The most recent of which was one of the deputies accused of accusing the central bank of corruption and financing Wednesday in a formula intended to stir up the public and stir public opinion against state institutions. "
And at a time when the bank urged the Presidency of the House of Representatives to take what is necessary towards these accusations and deputies to abide by the law in the accusations against state institutions, it welcomes the hosting of deputies to see the work of the currency sale window and the work of all its departments and deal positively with their proposals.
Ended to see the text of the central bank’s message to the three presidencies Click here no link given though

Oil is falling due to doubts about lower production and higher US stocks 


Oil prices retreated on Thursday, giving back gains in the previous session due to concerns about whether major oil producers will be able to reach an agreement to extend production cuts, which was exacerbated by concern over a large increase in US distillate inventories.

Brent crude futures fell 47 cents, or 1.18 percent, to $ 39.32 a barrel by 0652 GMT. While US West Texas Intermediate crude futures fell 67 cents, equivalent to 1.80 percent to $ 36.62 a barrel.
Saudi Arabia and Russia, the world's largest oil producers, agreed to support an extension of the 9.7 million bpd supply cut in July, cuts agreed in April by the Organization of the Petroleum Exporting Countries and major producers, in what is known as the OPEC + group.
But the two countries did not agree to hold a meeting on Thursday of OPEC + to discuss production cuts. OPEC sources said that it will be conditional on countries that have not yet committed to the goal of reducing production deepen their cuts.
"The market looked at this and said it was getting more complicated to reach that agreement," said Lakhlan Shaw, director of commodities research at the National Bank of Australia.
He added that this could imply that OPEC + will return to what it agreed in April, which is to reduce the reduction to 7.7 million barrels per day from July.
In addition, Saudi Arabia and other oil producing Gulf states such as Kuwait and the UAE do not intend to extend an additional voluntary production cut of 1.18 million bpd after June, which means that crude supplies will increase anyway next month regardless of what OPEC + decides.
Michael McCarthy, chief strategist at CMC Markets, said the surge in distillate inventories in the United States, the world's largest oil consumer, is also putting pressure on prices.
On Wednesday, US Energy Information Administration data showed that gasoline stocks in the United States increased by 2.8 million barrels last week, nearly three times what analysts expected, and distillate inventories increased by 9.9 million barrels, equivalent to nearly four times the expected.

NO CBI
NO ISX 

DinarGuru.com
6-3-2020   Newshound Guru Pimpy  ...there are a lot of reason to be excited about this month...I'm noticing that the other so-called gurus some of them are already making excuses saying...it's the riots.  It's just gonna be one excuse after another.  Someone asked me, 'do you think all these things are happening to prevent the exchange from changing?'   I don't think one has to do with the other.  But if I was Trump and I wanted to quickly squash all the rioting and get everybody happy again - make the rate change happen.  That would definitely be a distraction from everything that's going on.  We are in June now.  We are in the summer months.  We're going into the second half of the year.  Trump promised us a good third quarter and even more explosive fourth quarter and a better 2021.  We're all expecting the same thing and that is to see a rate change...

6-3-2020   Guest Guru Petra  ...clearly to me there is a change going on in the process with the Iraqi dinar...it's all culminating to what we're seeing right now and that is the imminent change of the Iraqi Dinar.  To me it's very clear.

6-3-2020   Intel Guru Bruce   ...I don’t think this is going to go on for too long...it’s close and we should be there either Wednesday/Thursday...Yesterday we had the green light from the IMF...Now – if we get that so called green light – from that final agency – then we should be good to go – either tomorrow [Wednesday] or Thursday – Obviously the best day that we could go would be on a Wednesday – that is the day Kuwait revalued – back in the 90’s – and we think that would be the best and I think the Iraqi’s would like to see it happen on Wednesday as well... we don’t have a start time on it – we have a “tentative” start time over the next couple of days – depending upon the full blown release of security to begin... IMF is ready to go – other institutions ready - we are now on as of ...1st of June  completely on the Quantum financial system - away from the Swift System – it’s all good...

6-3-2020   Intel Guru MarkZ   [via PDK]   I am still hearing that tonight is still the expectation from the banking and government side...I still feel there is not enough safety...I hope the government and banking sources are right and I am wrong.  [So is this the week?]  if you listen to my banking and government sources they swear this is the week. Even my Iraq contacts believe this is the week...they are printing Lower denominations and educating the people…while they get rid of auctions...  Keep in mind that literally the morning before they revalued - Kuwait told us it would be years before they could revalue...

6-3-2020   Intel Guru Delta  ...this is what the media is telling everybody in Iraq right now...they're about to come out with a new exchange rates...they're going to implement the financial reforms and currency reforms and they're going to change the exchange rate of the IQD...it doesn't get more crystal clear than this...

6-3-2020   Newshound Guru Breitling   ...Iraq is so on the edge of adding value to their currency.  I'm waiting for more information coming in.

6-3-2020   Newshound Guru Pimpy  ...I can't help but be impressed with the speed and due diligence of al-Kazemi.  He's really doing what he needs to do to make sure that Iraq is becoming stable and preparing for the future.  It's really impressive... What happens in the middle of this month?  Yes that's right the big meeting is going to take place therefor we must have all our ducks in a row and I absolutely feel positive that the cabinet will be completed before Americans show up...not only is he filling his cabinet but he's passing laws.  This guy is unbelievable!

6-3-2020   Newshound Guru MilitiaMan   Article: "The government is preparing to issue a new reform package mid this week"   Wednesday there is to be meetings on the Laws needed for many things that include Laws for Monetary Reforms. I suspect that since they have been talking about the 2019 FMLA and the secondary markets it will be a day to watch close. ...the reforms need the international rate to be applied to the currency to facilitate the ability for the IQD and the ISX to interlink internationally...

6-3-2020   Intel Guru Frank26  ...we told you there would be a trickling of information down to the citizens.  They're talking to the citizens on television about the exchange rate.  Adding value to their currency...information is flowing very rapidly right now ladies and gentlemen.  I mean it's just as obvious as can be... 

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 Iranian Minister of Energy

The Prime Minister, Mr. Mustafa Al-Kazemi, received today, Wednesday, the Iranian Energy Minister, Reza Ardakanian, and his accompanying delegation.

During the meeting, they discussed the latest developments and opportunities for cooperation in the energy field, especially electricity and the development of bilateral relations and cooperation between Iraq and Iran.

Al-Kazemi indicated that the whole world is facing difficult conditions due to the Corona pandemic and its repercussions on the economic scene, stressing the need to make utmost efforts to address the complex problems experienced by the countries of the region.

Al-Kazemi stressed that Iraq is keen to establish the best relations with its neighbors, and that the government and within its basic program seeks to develop the scope of external cooperation and increase the exchange of experiences.
For his part, Iranian Energy Minister, Reza Ardakanian, showed his country's keenness to establish the best relations and the most extreme cases of cooperation with Iraq, and support it at all levels.

Media office of the Prime Minister
3- June -2020

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ARTICLE 2 (from Government of Iraq twitter account)

At the time this report was submitted, there are no new tweets posted on the Government of Iraq twitter account.
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ARTICLE 3
Representative support for reducing the salaries of the three presidencies and special grades ... away from employees and retirees
6/3/2020 19:30
Where's the news - Baghdad

A number of members of the House of Representatives announced, on Wednesday, their support for the government's direction in reducing the salaries of the three presidencies and special grades and senior officials away from reducing the salaries of the remaining and retired employees, while they presented a set of solutions and proposals to enhance the government's efforts in taking measures to reduce spending and maximize revenue.

"We support the government’s orientation in reducing the salaries of the three presidencies and special grades and senior officials and achieving social justice in distributing salaries to all eligible according to Iraqi laws as a first stage away from Reducing the salaries of the remaining and retired employees, except for what is mentioned due to the living conditions and the majority of the services provided by the private and public sector at the same prices, including rents, services and other obligations, which burden the citizen at the present time.

He continued, "We draw attention to the fact that any governmental or parliamentary action towards reducing spending and austerity must be accompanied by a real approach from the government to combat administrative and financial corruption and stopping the waste of public money that had occurred previously or will happen through activating the role of the oversight bodies and following up on issues raised by members of the Council Representatives and the media, particularly reinforced by priorities, documents and documents, and that there are periodic clarifications on what these measures are from the government and the judicial authorities, and we call on the judicial authority to be present in this field in a way that enhances the citizen’s confidence in the state and its authorities in fighting corruption.

And between, "In order to enhance the government's efforts in taking measures to reduce spending and maximize revenue, we offer the following solutions and proposals: Stopping work in currency selling outlets with preparing instructions whereby all importers are required to submit lists that include imported goods for the purpose of customs accounting in the General Authority for Customs and Taxes before transferring money." And notify the Central Bank of accounting according to official correspondence accompanied by customs bills and taxes.

Change the exchange rate of the dinar gradually in a way that does not affect the citizen and ensure the provision of cash liquidity needed by the state.

Reviewing the import curriculum and specifying the goods and products that can be issued to prevent importing them to make way for government companies in the Ministry of Industry, the private sector and the mixed sector to qualify their factories and produce these goods to create jobs and maintain hard currency instead of taking them out of the country.

To take immediate and adequate measures to control the border outlets, not to allow any unofficial port, to assign officials at a high level of integrity and courage able to control these borders, implement laws related to customs tariffs, protect the national product, prevent importation, and apply the agricultural calendar.

Requiring mobile phone companies to pay fines, benefits and taxes in an immediate manner with a legal technical review of the contracts of these companies to ensure the national interest with the activation of the fourth license and present it to the public through the competent ministry.

Activating the tax system and reviewing the tax laws in a manner that permits the development of this sector and what it represents of important revenue for the state.

Reactivating the initiative of the Central Bank to allocate funds for loans to the Industrial, Agricultural and Real Estate Bank to encourage the private sector to borrow and implement projects that create real development, provided that restrictions and controls on granting loans are eased, as well as allocating the necessary funds for lending to small and medium-sized youth in order to generate jobs and create projects Young can be a livelihood for young people at the moment.

Encouraging cooperative societies and markets in the mixed sector to import foodstuffs to control market prices and not to affect the citizen's living conditions and needs. "

He explained, "These and other proposals that would provide funds that fill the deficit on the one hand, and we see that these amounts are directed towards supporting the social protection network, the ration card, medicines, and water sterilization, while supporting the educational and educational process and securing all its needs. We also announce the deputies signing this statement that we are with Any national effort by the political blocs in Parliament to support the state and its executive, legislative and judicial powers to enable the country to overcome this crisis and we are confident that this people with their history of sacrifice is able to overcome this crisis especially as it is a promising country possessing natural and human wealth and the competencies and capabilities that facilitate overcoming This crisis. "

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ARTICLE 4
The source of the Al-Kazemi government squad will be completed in next Saturday's session
3/6/2020 19:05
[Baghdad-where]

A well-informed source revealed, today, Wednesday, that the completion of Al-Kazemi's lineup will be in next Saturday's session.
The source said in a press statement that "Al-Kazimi's lineup for vacant ministries will be completed by voting for them at next Saturday's session of the House of Representatives."

The adviser in the Presidency of the House of Representatives, Shaker Hamid, revealed in a press statement that the Council was notified that the Prime Minister had completed the names of the candidates for the vacant ministries, and the CVs of the seven portfolios may arrive within the next two days, and it is likely that a session will be held next week to complete the cab.
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ARTICLE 5
The crowd eliminates ISIS infiltration between Diyala and Salah al-Din
3/6/2020 18:16 • 71 times read
The crowd eliminates ISIS infiltration between Diyala and Salah al-Din
Where's the news - Baghdad

On Tuesday, the leader of the popular crowd, Sadiq al-Husseini, announced that no ISIS infiltration was recorded on the border between Diyala and Salah al-Din.

Al-Husseini said, "The dead woman was the most prominent passage of ISIS infiltration from Salah Al-Din towards Diyala through Hawi al-Azim, which led to repeated attacks on security points and security villages and casualties."

Al-Husseini added, “The popular crowd redeployed to the dead and drew 3 security lines to counter ISIS infiltration and attacks, first dependent on the blocking line and then the cameras up to the artillery and mortar detachments.”

He stressed that "during the past 12 days, no cases of infiltration or attacks were recorded due to the strength and interdependence of the security lines and high coordination with the rest of the security formations."

Until recently, the dead were the most prominent passages of ISIS infiltration from Salah El-Din towards Diyala, which led to the attacking of the bounding points and villages and the fall of the victims and the injured.
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