WOTS MON NOV 30 2020
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1164.4000 |  1214.5000 | 1192.7000 | 1192.3000 | 1192.7000 | -0.6000 | 11:43 |
| USD/VND | 23140.0000 | 23145.0000 | 23140.5400 | 23136.8200 | 23140.5400 | -3.8400 | 01:30 |
| USD/CNY | 6.5732 | 6.5754 | 6.5934 | 6.5729 | 6.5760 | -0.0027 | 05:03 |
| USD/KWD | 0.3051 | 0.3061 | 0.3055 | 0.3053 | 0.3055 | -0.0002 | 05:03 |
| GBP/USD |  1.3349 | 1.3349 | 1.3357 | 1.3305 | 1.3331 | 0.0042 | 05:20 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.4000 | 42097.4000 | 42097.4000 | 0.0000 | 16:00 |
| USD/IDR | 14158.0000 | 14158.0000 | 14177.0000 | 13885.0000 | 14077.0000 | 2.0000 | 05:19 |
Al-Kazemi directs to send the 2021 budget immediately to the Cabinet Secretariat
The General Secretariat of the Council of Ministers announced, on Monday, that the Prime Minister, Mustafa Al-Kazemi, had directed to send the budget immediately to the General Secretariat for the purpose of checking it.
“The Prime Minister directed the Ministries of Finance and Planning to send the budget immediately to the General Secretariat of the Council of Ministers for the purpose of checking it by the legal department in order to allocate an extraordinary session,” said Haider Majeed, a spokesman for the Cabinet Secretariat. To be discussed and referred to the House of Representatives for approval as soon as possible.
Majeed added, "The government and parliament are unanimous on the need to expedite the approval of the 2021 budget."
The deputy of the Al-Fateh Alliance Abbas Al-Atifi confirmed in a previous statement to "the information" that the government of Prime Minister Mustafa Al-Kazemi is not serious about sending the draft federal budget bill for 2021 to the House of Representatives.
Parliamentary Finance: The "White Paper" proposal to replace the currency requires a lot of money
The Parliamentary Finance Committee confirmed on Monday that the "white paper" submitted by Prime Minister Mustafa Al-Kadhimi includes the proposal to replace the currency, noting that this proposal requires a lot of funds to implement it.
Iraqi Prime Minister Mustafa al-Kadhimi said in June that the government had prepared a "white paper" for the reforms. According to the document, the proposed implementation period is three years from 2021 to 2023.
"The reform paper to address the financial crisis presented by the House of Representatives includes a review of the exchange rate and the possibility of proceeding with the removal of zeros, while adjusting the mechanism for selling the currency and maintaining the hard currency and the exchange rate of the dollar against the Iraqi dinar," committee rapporteur Ahmed Al-Saffar told The Twilight News.
"The implementation of this proposal requires better economic possibility and conditions than the current situation with liquidity for the application," he said, adding that "currency replacement requires a lot of money to print the currency abroad."
Urgent In the document .. Public Prosecution opens an investigation into the currency auction and the validity of its bills
document translated:
(in the document - Public Prosecutor Iraq news 20/11/2020 Attachments Photo book Photocopy to - House of Representatives Office Member of the House of Representatives Mr. Muhammad Saheb Al-Darraji, the respected, your letter above for your kind information with the most appreciation. Appreciation The General Prosecutor's headquarters in Rusafa I accompany you with a copy of the book above to follow up and inform us of the result with appreciation. 2 emails here I deleted Important Prosecution opens an investigation into the currency auction and the validity of its bills .. 09 3:15 AM 11/30/2020
Oil expert: Baghdad's interest with OPEC. And the Gulf states against the damage to Iraq
Oil expert: Baghdad's interest with OPEC. And the Gulf states against the damage to Iraq
Oil expert Hamza al-Jawahiri said Monday that Iraq's interest sits in compliance with OPEC resolutions, adding that the Gulf states are against causing harm to Iraq.
"Iraq is very committed to OPEC's decisions, regardless of whether it is affected by the commitment to this mechanism," al-Jawahiri told The Shafq News agency.
"All OPEC countries have financial resources other than oil and are able to manage their economy without any problems, but only Iraq is 100 percent dependent on oil resources and has financial problems as a result," he said.
"Iraq has asked OPEC more than once to take into account its financial circumstances as a result of low oil prices, and the United States of America intervened on behalf of Iraq and demanded that Saudi Arabia take into account Iraq's financial circumstances," al-Jawaheri said.
"It is in OPEC's interest to extend production cuts during their meeting today and tuesday because of the failure to end the Corona pandemic, which has affected the economies of the world," he said.
Opec is considering extending oil production cuts for three months at its scheduled meeting on Monday
In April, OPEC reached an agreement to reduce oil supplies for two years, with the aim of controlling oil markets, whose prices collapsed due to declining demand in the new Coronavirus pandemic, which reduced production by 9.7 million barrels per day (bpd) in May and June, with a total reduction of 7.7 million barrels per day in the second half of the year.
Iraq has already violated its commitment to reduce production and then pledges to reduce production by one million barrels per day, or one percent of world supplies.
Iraq is the second largest crude producer in the Organization of Petroleum Exporting Countries (OPEC), which usually exports about 3.5 million barrels per day.
It is worth mentioning that Iraq is suffering from a severe financial crisis as a result of the fall in oil prices globally, which constitutes 90% of Iraq's general budget, and therefore the Ministry of Finance found itself unable to pay the salaries of employees during the current year, which prompted it to borrow, while later claimed that it was unable to pay the salaries of employees for the remaining months of the current year without borrowing either.
here.
The currency auction total sales amount $ 177,490,900.
including $ 17,000,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
SATURDAY -
Iraq News....
• Iraqi TV reports that PM Kadhimi met with the CBI, the Minister of Finance and with several key financial institutions, informing them that the 2021 budget will be delivered to Parliament either by end of November or by the middle of December.
• The 2021 Budget is supposed to be approved by end of December and then sent to President Saleh to accept and sign off. He has 15 days to sign off, if he doesn't, it will automatically be ratified and become law. This should take place near the middle of January, which corresponds with the timframe that Iraq stated that the white papers would be implemented along with the reforms.
• Parliament sends PM Kadhimi a reform paper and demands that he acts upon the Economic and Financial Reforms immediately to avoid further damages. They are saying it is a necessary reform that must be done.
• The Finance Committee sent a letter to the government demanding the necessity of implementing the recommendations of the white paper presented by the Ministries of Finance and Planning.
US Bank News...
• Some banks are "ON EXCHANGE LOCATION" today........waiting for the "GO" signal! (Except Texas, more than likely)
• Various rates for different currencies are being communicated to us......supposedly at the banks discretion? Have your "Game On" when you go in to exchange.
11-29-2020 Intel Guru Austin Powers-For-PM Article: "The Iraqi government announces a positive development regarding the 2021 budget" Quote: “The seriousness of the Iraqi government in sending the draft budget bill for 2021 to the Iraqi parliament this week.” It sounds like they are seriously "On the clock".
11-29-2020 Newshound Guru Jeff This week is when Iraq finally came forward talking about how they really need to do something with the exchange rate. They just starting this roughly since last weekend. It's a new patter for about a week now. Article: "Parliamentary Finance issues a package of reforms that include imposing a value-added tax and reviewing the dollar exchange rate" Here they're talking about deleting the zeros, doing something with the exchange rate and implementing taxes. Notice how this type information did not come forward until Iraq finished the borrowing law. Remember I stressed to you the borrowing law was the last step needed before they could change their rate? There you go. Now they can change the rate at any point in time. But they have to do it by the end of March...we're in a great spot right now...
11-29-2020 Newshound Guru Breitling ...So what does Iraq have to do under a Biden administration? What do they want to do? They want to add value to their currency...Trump's plan...is more of a long term steady outlook...Short term - if Biden gets in it's going to be very very good for us. Long term if Trump gets in then Iraq is going to be part of our market and guess what? It's a longer road with a higher rate. [Post 2 of 2]
11-29-2020 Newshound Guru Breitling ...You can't worry about what you can't control...You have a plan for if Trump is going to be in office and you have a plan for if Biden is going to be in office...it doesn't matter who is president. The thing that disturbs me most about this stuff is the gloom and doom talk. "If this guy get's in it's all over." "If THIS guy gets in it's all over." None of it's true. Never has been. Never will be... [Post 1 of 2....stay tuned]
11-29-2020 Intel Guru RayRen98 US Bank News...Some banks are "ON EXCHANGE LOCATION" today...waiting for the "GO" signal! (Except Texas, more than likely) Various rates for different currencies are being communicated to us...supposedly at the banks discretion? Have your "Game On" when you go in to exchange.
