The exchange rates of the dollar rose on the stock exchange as it stabilized in the local markets, Tuesday (July 14, 2020).
The prices of the Kifah Stock Exchange - Baghdad were 122,900 dinars per 100 dollars.
Buying and selling prices in exchange shops
The selling price of the dollar = 123,500 dinars.
The prices of the Kifah Stock Exchange - Baghdad were 122,900 dinars per 100 dollars.
Buying and selling prices in exchange shops
The selling price of the dollar = 123,500 dinars.
The Markets:
The Asian market closed NIK down by .87% HSI down by 1.14% SHNG down by .83%
The UK markets are currently trading in the red from .35% to 1.59%
Our futures are currently DOW at 26069 up by .39% SNP at 3159 up by .35% NDX at 10640 up by .38%
Precious Metals:
Gold red at 1800 Silver redat 19.39 Copper red a 292 Platinum red at 830
Brent 42 WTi 39
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1165.5000 |  1218.4000 | 1192.6000 | 1191.6000 | 1192.6000 | 0.4000 | 09:05 |
| USD/VND | 23181.0000 | 23183.0000 | 23164.5800 | 23157.8300 | 23157.8300 | 8.6900 | 00:21 |
| USD/CNY |  6.9942 | 6.9962 | 6.9967 | 6.9940 | 6.9963 | -0.0021 | 05:14 |
| USD/KWD | 0.3071 | 0.3081 | 0.3076 | 0.3073 | 0.3076 | -0.0003 | 02:46 |
| GBP/USD | 1.2511 | 1.2512 | 1.2560 | 1.2506 | 1.2553 | -0.0042 | 05:15 |
| USD/IRR | 42000.0000 | 42210.0000 | 43011.9000 | 43011.9000 | 43011.9000 | -43.1000 | 04:44 |
| USD/IDR | 14566.0000 | 14567.0000 | 14604.0000 | 14369.0000 | 14481.0000 | 86.0000 | 05:11 |
Things in the News:
Record Federal Spending and Deficit Intensifies...
Fed's $3 trillion virus pump inflates market bubbles...
Inferno on San Diego Navy ship rages into second day...Fed's $3 trillion virus pump inflates market bubbles...
Iraqi Articles:
Iraq and Saudi Arabia issue a united position on the "OPEC +" agreement
Iraq and Saudi Arabia announced, Monday, their full commitment to the "OPEC +" agreement to reduce production with a view to rebalancing oil prices in global markets.
This came in a telephone call between the Iraqi Oil Minister Ihsan Abdul Jabbar Ismail. And Saudi Energy Minister Abdul Aziz bin Salman.
According to a joint statement issued by the two sides, reported to Shafaq News, "The Kingdom of Saudi Arabia and the Republic of Iraq confirm their full commitment to the OPEC Plus agreement."
In this regard, the Saudi Minister of Energy praised "the performance of Iraq within the framework of the agreement, as the level of commitment by Iraq in June reached nearly 90 percent, as confirmed by secondary sources."
Bin Salman expressed his confidence that Iraq will continue and improve its level of commitment.
For his part, the Iraqi oil minister confirmed Iraq’s commitment to the OPEC Plus agreement, adding that Iraq will raise its commitment level to 100 percent starting next month, with its commitment to compensate, during the months of July, August and September, for the excess production quantities during May and June.
At the end of the phone call, the two ministers affirmed that "the efforts made by the countries participating in the OPEC Plus agreement towards adhering to the production reduction rates decided in the agreement will enhance the stability of global oil markets and accelerate the achievement of their balance."
Last April, the OPEC + alliance reached a historic agreement to make cuts in oil production of 9.7 million barrels per day, with the goal of rebalancing crude prices in world markets.
According to the agreement, Iraq was to reduce its crude production by about one million barrels per day in May and June.
The Federation of Chambers of Commerce calls on the government to support the Iraqi market and overcome obstacles to merchants
The President of the Federation of Chambers of Commerce Abdul Razzaq Al-Zuhairi called on Monday the government to support the Iraqi market represented by the Iraqi chambers of commerce to advance the economic process forward, while he pointed to the presence of recession and weakness in the cash transactions in the local market.
Al-Zuhairi said during the periodic meeting that is held periodically via the electronic circuit / zom / with the heads of the Iraqi chambers of commerce in 18 governorates that "the Iraqi market needs support and government focus by giving financial loans the form of financial payments to companies to support the financial scarcity in the market and overcome obstacles in front of traders." .
He pointed out, "There is a clear lack of trust between the citizen and the banks. Therefore, there must be cash flow like setting up a joint stock company between the people and the government, such as a port." FAO Or a new national telecommunications company in which the government forms one part and the citizen is another, and by this we have secured a large amount of money that can be withdrawn, recycled, or traded via K-Cards.
The head of the chambers of commerce continued that "manual cash (cash) causes many problems, such as exposure to theft or the weight of a campaign in the cash wallet, and therefore there must be a bank cash card that can enhance the presence of money and its ease of campaign by the citizen to withdraw cash from the Iraqi street."
Central and Mosul Liberation
In the midst of the new economic and financial crisis and efforts to confront the coronavirus in its third phase of spread, the international economic circumstances and challenges facing Iraq, the latest of which is the european Union's report that is not true, considers Iraq to be one of the high-risk countries in the field of money laundering and terrorist financing.
The third anniversary of the liberation of Mosul marks the solidarity of our security forces of all kinds and the cohesion of our people of all walks of life. What is important here is that the lessons learned from victory and liberation do not pass without recalling them, and it is axiomatic that a military victory cannot be achieved without support and economic support in complex economic conditions that have spanned the years (2015) and the armed army supporting our armed forces has been the Central Bank of Iraq (NRA).
The central bank's support to the national economy during the economic and financial crisis, the war on terrorism, the liberation of Mosul, Anbar and Salah al-Din is a bright spot and a success experience in a country that is going through harsh conditions and a historical phase that is the most difficult to face in the face of economic and security challenges that no country in the world, such as Iraq, has gone through, has contributed significantly to enhancing economic resilience and achieving a successful victory over terrorism, monetary stability and financial victory. The efforts, prudent actions, monetary policy applications and development actions of the Central Bank in Iraq's difficult economic phase, as the Bank was able to formulate its strategy for the years (2016-2020) in stabilizing the financial system and stimulating economic growth, financial inclusion, structural and institutional construction, and optimal investment in human capital through important achievements, most notably:
Supporting the state treasury by 20 trillion dinars and maintaining the stability of the exchange rate of the Iraqi dinar and maintaining a balanced rate of prices as well as maintaining the annual base inflation rate by
Only 2 percent and at a level of foreign reserves within acceptable rates by international standards, and its foreign reserves remain at $68 billion. To stimulate the banking sector in order to organize, supervise and control, establish new units within the regulatory structures of banks such as compliance, anti-money laundering, terrorist financing, credit and operational risk management, the promulgation of Money Laundering Act No. 39 of 2015, the establishment of the Anti-Money Laundering and Terrorist Financing Board, the development of payment systems, the application of all payments by mobile phone, the establishment of the national division, and the application of international standards in financial reports in line with the principle of transparency and disclosure.
In addition, the Bank has re-evaluated and categorized banks in accordance with international standards and standards in assessing business results and measuring performance efficiency, as well as establishing a deposit guarantee company with the aim of raising the savings rate of banks and reducing the rate of home hoarding, thus stimulating the economy through the activation of investment, banking and action. Regulatory and structural, the development of the deposit center on the Iraqi Stock Exchange and the establishment of a national credit information center. At the level of international banking relations, the Central Bank has been able, with extraordinary efforts, to restore relations with Arab and foreign banks and to deliver the achievements achieved during 2015 and 2018 to governing international financial institutions such as the Financial Action Group (FATF), with some 700 observations of the financial situation in Iraq that contributed to iraq's transition from grey to regular follow-up, and the promotion of Mr. Governor's call to the Security Council and its presentation of organizational, structural and technical achievements and developments and compliance with international financial reporting standards. Confidence in the Iraqi economy and Iraq's ability to comply with international credit benefits, and the commendations of the World Bank and the International Monetary Fund have had a clear impact in strengthening economic resilience, fiscal victory and a steady pace towards financial sustainability.
It is a clear and transparent response to the recent EU report. At the moment, Iraqis are celebrating the anniversary of the liberation of Mosul, and I call on the national media to strengthen the extraordinary and sincere efforts of the fatheriraqis fighting terrorism and building a new Iraq at the same time to shed light on the economic success experiences that have achieved economic resilience, which were previously led and now led by the Central Bank of Iraq.
Morgan Stanley raises its forecast for Brent and US crude prices for the third quarter
Morgan Stanley raised its Brent crude price forecast for the third quarter of 2020 to $ 40 a barrel from $ 35 in its previous forecast.
It also raised its forecast for the price of West Texas Intermediate crude for the third quarter of 2020 from 32.50 dollars per barrel to 37.50 dollars.
The bank said demand for oil was improving but was still fragile and was unlikely to exceed levels previous to the Coronavirus pandemic until late 2021.
Morgan Stanley is a US multinational financial and investment services organization, and is considered one of the largest banking institutions in the United States and the world. It is located in central Manhattan, New York City. The main areas of the business are global wealth management, institutional financial services, investment management, in addition to Mergers and acquisitions services.
CBI, ISX,Dinar Guru:
CBI Update: Just a note:
They have been having auctions and the ISX has been trading regularly the sites just don't update in time to put the information in this report, unless it is
here.
CBI Update: Just a note:
They have been having auctions and the ISX has been trading regularly the sites just don't update in time to put the information in this report, unless it is
here.
here.
The currency auction total sales amount $190,728,878.
including $13,440,000 in cash
ISX Update: At my last checking
including $13,440,000 in cash
ISX Update: At my last checking
7-14-2020 Newshound Guru Pimpy I want to make something perfectly clear because people are conflating something I'm saying. When I say recognize the sovereignty, that's a major step towards them getting the reinstatement or revaluing of their currency. Their currency must be recognized internationally again and that won't happen until they get their sovereignty again and the restriction on their currencies are removed. Somebody's telling me 'There is no restrictions.' Yeah there is. There's big restriction on the currency. That's what we're anticipating. An announcement by Trump that he will recognize and encourage the world to recognize the sovereignty. It would be a huge step and then we want an announcement about the same time or shortly after that the restriction on Iraq's dinar have been removed and we can start seeing it trade once again on the Forex. That's what we want to see...I'm expecting these next two weeks to be really big...
7-13-2020 Newshound Guru Adam Montana When the Iraqi Dinar is ReValued to a higher rate, it will become more desirable to do business in Iraq. Many people will be less hesitant to sign contracts and invest in Iraq. The current Iraqi Stock Exchange (ISX) should see some major movement… and the CBI (Central Bank of Iraq) is going to make tons of money on the exchanges! I believe that Iraq can sustain a very stable currency at a rate of $3 or higher, but I don’t think they will immediately jump to that rate even if they ultimately desire it to be so... [post 2 of 2]
7-13-2020 Newshound Guru Adam Montana ...The most important concept to understand today is this: The CBI makes money on every auction, and they will continue to do so forever. When the Dinar changes value, the CBI buys it at a lower rate, and then sells it at a higher rate. The CBI will ALWAYS choose the path that makes them the most money. I agree that a lower rate than Kuwait will be a blow to the ego’s of the Iraqis. I agree that it should be on par with the USD, or even higher. I agree that the rate WILL get there… eventually. [post 1 of 2....stay tuned]
7-13-2020 Newshound Guru Pimpy I would love to see Dr. Shabibi come back. It's been a rumor. He's really really super old and I think people that were giving him a lot of hell are no longer really there so it's a possibility. I'm definitely curious about what if he does come back. It'd be a huge positive step. I think this man knows what the heck he's doing and I would like to see him get back in control of the Iraqi bank...
7-13-2020 Newshound Guru Jeff ...the last few months I've been putting a huge emphasis on saying Iraq has to have stability before the rate can change. They're telling you that. If you look at the amount of articles coming out between Erbil which is Kurdistan and Baghdad there's a lot...this is very serious...Iraq has to have stability, meaning they have to be able to work together before that rate can change, before they can go international...they just need a little more time. They're using the word "complete" which means ending or completion, towards a comprehensive agreement. So they're suggesting to us that they're close to having an agreement reached...
7-13-2020 Newshound Guru Pimpy ...the articles that I'm seeing are showing me that there's a lot of preparation getting done before Al-Kazemi's visit over here into the United States...we see the World Bank is there...they're most likely going to be the people that pull the trigger on a rate change...but we need to get the green light from...the United Nation once again recognizing the sovereignty of Iraqi people and the restrictions moved off their money. We will be eyeballing that. But first we have to get their sovereignty reinstated. That's what we're waiting for...
7-13-2020 Newshound Guru Adam Montana I agree with a few of the speculations above. [reference posts 1 and 2 7-13-2020] But my opinion of the rate goes a little deeper… it includes a “business sense analysis” that everyone might consider. Iraq is a business – and the business is natural reserves. Iraq holds a majority of the worlds natural gas and also black gold, also known as “oil”. When...the HCL has been settled, they will begin operating their business using the same principals any other successful company uses – the goals being profit, sustainability, and success! [post 3 of 3]
7-13-2020 Newshound Guru Adam Montana
Based on “equal to the USD”: We see articles all the time that reference the US Dollar, stating that the CBI wants the IQD to be equal to the USD. An easy assumption is to simply RV at 1:1, making a 10,000IQD note worth $10,000.
Based on “they can’t RV low or investors will buy too much!”: Some people state they will not cash in for anything less than $1. They state that Iraq would be foolish to RV at a low rate, because then big money will come in and buy up a ton of Dinar before it can go higher. (This theory is wrong, FYI.) [post 2 of 3....stay tuned]
7-13-2020 Newshound Guru Adam Montana Speculated rates and theories:
Based on Kuwaiti Dinar: It’s been said that the rate must equal their neighboring Kuwaiti Dinar rate, which would put the Dinar at $3+. Many people speculate that the Iraqi’s are a prideful people, and it would be a slap in the face to have a revalued currency be less than Kuwaits.
Based on "dropping the 0′s": It’s mentioned many times in the news that the 0′s could be dropped, which would mean one of two things: 1. The 0′s are dropped from the bills, which essentially puts most investors at a break even return. Nothing gained, nothing lost. 2. The 0′s are dropped from the exchange rate, which is currently .00086 (Dinars are worth about 1170 IQD per 1USD, or an exchange of .00086). This means your dinars are worth .86 USD per Dinar – in other words, a 10,000 IQD note is exchanged for $8,600 minus spread and bank fees. [post 1 of 3....stay tuned]
7-13-2020 Newshound Guru Adam Montana ...The most important concept to understand today is this: The CBI makes money on every auction, and they will continue to do so forever. When the Dinar changes value, the CBI buys it at a lower rate, and then sells it at a higher rate. The CBI will ALWAYS choose the path that makes them the most money. I agree that a lower rate than Kuwait will be a blow to the ego’s of the Iraqis. I agree that it should be on par with the USD, or even higher. I agree that the rate WILL get there… eventually. [post 1 of 2....stay tuned]
7-13-2020 Newshound Guru Pimpy I would love to see Dr. Shabibi come back. It's been a rumor. He's really really super old and I think people that were giving him a lot of hell are no longer really there so it's a possibility. I'm definitely curious about what if he does come back. It'd be a huge positive step. I think this man knows what the heck he's doing and I would like to see him get back in control of the Iraqi bank...
7-13-2020 Newshound Guru Jeff ...the last few months I've been putting a huge emphasis on saying Iraq has to have stability before the rate can change. They're telling you that. If you look at the amount of articles coming out between Erbil which is Kurdistan and Baghdad there's a lot...this is very serious...Iraq has to have stability, meaning they have to be able to work together before that rate can change, before they can go international...they just need a little more time. They're using the word "complete" which means ending or completion, towards a comprehensive agreement. So they're suggesting to us that they're close to having an agreement reached...
7-13-2020 Newshound Guru Pimpy ...the articles that I'm seeing are showing me that there's a lot of preparation getting done before Al-Kazemi's visit over here into the United States...we see the World Bank is there...they're most likely going to be the people that pull the trigger on a rate change...but we need to get the green light from...the United Nation once again recognizing the sovereignty of Iraqi people and the restrictions moved off their money. We will be eyeballing that. But first we have to get their sovereignty reinstated. That's what we're waiting for...
7-13-2020 Newshound Guru Adam Montana I agree with a few of the speculations above. [reference posts 1 and 2 7-13-2020] But my opinion of the rate goes a little deeper… it includes a “business sense analysis” that everyone might consider. Iraq is a business – and the business is natural reserves. Iraq holds a majority of the worlds natural gas and also black gold, also known as “oil”. When...the HCL has been settled, they will begin operating their business using the same principals any other successful company uses – the goals being profit, sustainability, and success! [post 3 of 3]
7-13-2020 Newshound Guru Adam Montana
Based on “equal to the USD”: We see articles all the time that reference the US Dollar, stating that the CBI wants the IQD to be equal to the USD. An easy assumption is to simply RV at 1:1, making a 10,000IQD note worth $10,000.
Based on “they can’t RV low or investors will buy too much!”: Some people state they will not cash in for anything less than $1. They state that Iraq would be foolish to RV at a low rate, because then big money will come in and buy up a ton of Dinar before it can go higher. (This theory is wrong, FYI.) [post 2 of 3....stay tuned]
7-13-2020 Newshound Guru Adam Montana Speculated rates and theories:
Based on Kuwaiti Dinar: It’s been said that the rate must equal their neighboring Kuwaiti Dinar rate, which would put the Dinar at $3+. Many people speculate that the Iraqi’s are a prideful people, and it would be a slap in the face to have a revalued currency be less than Kuwaits.
Based on "dropping the 0′s": It’s mentioned many times in the news that the 0′s could be dropped, which would mean one of two things: 1. The 0′s are dropped from the bills, which essentially puts most investors at a break even return. Nothing gained, nothing lost. 2. The 0′s are dropped from the exchange rate, which is currently .00086 (Dinars are worth about 1170 IQD per 1USD, or an exchange of .00086). This means your dinars are worth .86 USD per Dinar – in other words, a 10,000 IQD note is exchanged for $8,600 minus spread and bank fees. [post 1 of 3....stay tuned]
Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Q: The ministers, Mr. Mustafa Al-Kazemi, directs the activation of the discontinued electricity projects and the provision of free fuel for private generators
The Prime Minister, Mr. Mustafa Al-Kazemi, directed the activation of all electricity projects, especially the agreement concluded with the German company Siemens, this came during a meeting held today, Monday, with the ministers of electricity and oil, devoted to addressing the current electricity crisis.
Mr. Al-Kazemi stressed that the electricity file is one of the most important challenges facing the work of the current government, noting that past periods have seen billions of dollars spent on this sector, enough to build modern electrical networks, but corruption, financial waste and mismanagement prevented the treatment of the electric power crisis in Iraq To continue the suffering of the citizens, which is exacerbated in the summer months.
Al-Kazemi indicated that the previous ministry had not undertaken projects related to electricity maintenance, which has exacerbated the problem of electricity, especially in this economic and financial circumstance that Iraq is experiencing due to the collapse of oil prices globally as a result of the effects of the Corona pandemic.
His Eminence indicated that the government is determined to address this file by implementing plans to develop production sectors, as well as standing at the joints that stand in the way of the advancement of electricity, and blocking all the outlets of corruption in this vital vital sector.
The Prime Minister directed the Ministry of Oil to provide fuel for free to owners of private generators, in exchange for lower subscription rates and increased processing hours.
Media office of the Prime Minister
13-July-2020
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ARTICLE 2 (from Government of Iraq twitter account)
7-13-2020 around 11 am Eastern
PM @MAKadhimi: The @IraqiGovt is determined to address the problems in the electricity sector, implement plans for its development and tackle corruption in all its forms in this critical sector
PM @MAKadhimi: Iraq spent billions of dollars on the electricity sector during recent years, but because of corruption, waste and mismanagement, it failed to build a modern power grid that meets the needs of our citizens.
PM @MAKadhimi also directed the Ministry of Oil to supply fuel free of charge to owners of private electricity generators, provided they reduce the cost to consumers and extend the hours of supply.
PM @MAKadhimi holds a meeting with the Ministers of Electricity and Oil to discuss electricity supply in Iraq, and directs that all electricity projects, especially those agreed with @Siemens , be implemented without delay.
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ARTICLE 3
Al-Kazemi issues an order to upgrade officers of the Ministry of Interior, the Counter-Terrorism Service, and outlets
Editing Date: 7/1420 2020 0:20 • 62 times read
Ayna News - Baghdad
The Prime Minister, Mustafa Al-Kazemi, on Monday issued bureau orders to promote the officers of the Ministry of Interior and the Anti-Terrorism Agency and the Port Authority.
The spokesman for the commander in chief, Yahya Rasoul, said in a tweet on Twitter, that "Prime Minister Commander in Chief of the armed forces, Mustafa al-Kazemi, issued burial orders to promote officers of the Ministry of the Interior, the counter-terrorism agency, and the border entry authority who deserve to be promoted in a schedule." July 14 2020.
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ARTICLE 4
Rafidain Bank directs the resumption of working hours tomorrow in some of its branches to complete the payment of employee salaries
Editing Date: 7/13/2020 21:02 •
The Rafidain Bank directed some of its branches involved in paying employee salaries to resume work tomorrow tomorrow and in coordination with the Central Bank of Iraq to complete the process of distributing employee salaries.
The bank's media office said in a statement that "some of the branches included in the payment of salaries of state employees have been directed to resume working hours tomorrow to complete the process of distributing salaries while adhering to the preventive measures of Corona virus."
The General Secretariat of the Council of Ministers announced tomorrow an official holiday on the occasion of the anniversary of July 14.
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ARTICLE 5
Vegetable oil relieves anxiety and fear and improves sleep
Editing Date: 7/13/213 14:24 •
[Follow_Eye] A
team of scientists at the University of Vienna in Austria has verified the validity of popular opinions that lavender oil works to improve sleep quality by reducing anxiety, fear, and symptoms of depression.
It is noteworthy that lavender oil is used as a fragrance and oil to relax tight muscles and treat flatulence. The oil also helps to relieve headache pain in some people with painted on the cheeks, and is used in cooking, drawing and preventing some types of insects from entering the home.
The scientists conducted a study on the effect of lavender capsules, also known as lavender or lavender, on a group of people for a period of ten weeks, according to what was reported by "Deutsche Welle".
The scientists divided the participants in the study into two groups, the first group dealt with 80 to 160 milligrams of lavender capsules daily, while the second group obtained capsules without effect without their knowledge.
The scientists concluded, after two weeks, that the group that obtained the lavender capsules had a markedly reduced level of fear and anxiety, and even the effect of the capsules reached the same level as some anti-depressants.
In contrast to manufactured medicines, vegetable lavender capsules did not cause serious side effects to those who used them. With the exception of a slight stomach upset and a slight rash in some participants, the plant drug was safe to use even with other medications, and did not cause a strong desire to sleep during the day
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