The exchange rates of the dollar decreased in the main stock markets and local markets on Wednesday (November 4, 2020).
Al-Kifah Stock Exchange recorded 124,850 dinars against 100 US dollars, while the exchange rate of the dollar for Tuesday recorded 125,100 dinars per 100 dollars.
As for the exchange rate in the local market, it was: -
Selling price: 125,250 dinars per 100 dollars.
Purchase price: 124,250 dinars per $ 100.
The exchange rates in Basra Governorate were recorded at 125,100 dinars per $ 100.
While the exchange rates in Sulaymaniyah Governorate recorded 125,250 dinars per 100 dollars.
The Markets:
Asian markets closed NIK .% HSI .% SHANG .%
The UK markets are currently trading in the green from .10% to 1.21 %
Our futures are currently trading mixed the DOW at 27337 down by .14% SNP at 3373 up by .36% NDX at 11480 up by 1.90%
Precious Metals:
Gold is red at 1891 Silver is red at 23.76 Copper is red at 305 Platinum is at red at 862
Brent 40 WTi 38
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|
| USD/IQD |  1170.3000 |  1221.7000 | 1192.6000 | 1190.6000 | 1191.7000 | -1.7000 | 14:09 |
| USD/VND | 23176.0000 | 23179.0000 | 23162.2000 | 23155.9700 | 23155.9700 | 7.7800 | 00:38 |
| USD/CNY | 6.6885 | 6.6905 | 6.7369 | 6.6760 | 6.6760 | 0.0118 | 05:17 |
| USD/KWD | 0.3056 | 0.3066 | 0.3059 | 0.3058 | 0.3059 | -0.0001 | 05:15 |
| GBP/USD |  1.2998 | 1.2998 | 1.3138 | 1.2914 | 1.3049 | -0.0051 | 05:19 |
| USD/IRR | 42000.0000 | 42210.0000 | 43011.9000 | 43011.9000 | 43011.9000 | -43.1000 | 04:44 |
| USD/IDR | 14427.0000 | 14516.0000 | 14620.0000 | 14448.0000 | 14503.0000 | -26.0000 | 05:19 |
Things in the News:
Iraqi Articles:
More than 30 investment projects for Iraq, in partnership with Arab countries
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The Iraqi Fund for External Development revealed that there are 30 joint investment projects with a number of Arab countries.
"Iraq has 30 investment projects with a number of Arab countries and in all sectors, including the agricultural and livestock sectors, including mining, including transportation, navigation, oil services and communications," the fund said in a schedule seen by "Al-Iqtisad News."He added, "These investments ranged from Iraq’s percentage between 0.5%, which included the Saudi Arabian Fisheries Company, and 50%, including the Arab Iraqi Company for Dairy Production, in addition to the Arab Investment Company in Saudi Arabia, the Iraqi Jordanian Company for Industries in Jordan, and the Iraqi Company. Syrian Shipping and the Iraqi-Jordanian Bahaus Company
She pointed out that "there are other investments with Sudan to produce vegetables and agricultural crops at an investment rate of 12.5%, the National Company for Industries and Mines with Mauritania and the Gulf Aluminum Rolling Company with Bahrain."
It is noteworthy that the objective of the fund is to grant development projects in Arab and developing countries medium or long-term loans on easy terms, while giving preference to projects of a vital nature for the country or country concerned, in addition to contributing to development projects, especially of an investment nature, with preference given in this field. For projects characterized by Arab economic integration.
Al-Maliki vows to escalate "unwelcome" if salaries are not paid
not that Mailiki another one
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Health professionals' captain Alaa al-Maliki announced on Wednesday that protests will begin starting next week if employees' salaries are not paid, promising to escalate "unwelcome" if their demands are not met.
The salaries of employees are usually paid from 15 th of each month until 26 th of the same month, but the government has delayed the payment of September salaries until 7 October.
Employees have also not received their salaries for the past month so far, due to the country's suffocating crisis.
"We will have vigils next week with colleagues at all medical, health and administrative addresses and in coordination with all unions in the event that salaries are not handed over, as this is a red line that cannot be crossed by the government or others," al-Maliki said in a statement to The Shafq News.
"If the response is not, the escalation will be stronger and unwelcome," al-Maliki said, adding that "differences remain between the parliament and the government, while the people are suffering because of salary delays."
"The government is creating one crisis after another and a failure, followed by another failure, without any viable solutions that can pull the country out of the chaos and randomness it is now going through," he said, adding that "the country with the largest oil reserves, and its land is full of good things, is unable to provide a living for its children."
Al-Maliki described the salary delay as "humanitarian and professional," rejecting any flimsy arguments, and the government bears any delay in implementing its duties, because the people cannot be wood for "failed" political conflicts.
The Iraqi government last month sent a bill to borrow 41 trillion dinars (about 34 billion dollars) to parliament for approval, in order to finance the shortfall in the salaries of employees for the remaining months of the year.
According to statements made by parliamentarians to Twilight News, parliament will not approve passage of the bill with this amount, but will reduce it to about 15 trillion dinars.
The law provides legal cover for the government, considering that Iraq has not approved a budget for 2020 due to declining financial revenues due to the fall in oil prices on the world market due to the consequences of the Corona virus.
The Government is struggling to secure employee salaries and other operating expenses, as oil prices have fallen as a result of the Corona pandemic, which has crippled large sectors of the world's economy.
Iraq relies on oil sales revenues to finance 95 percent of state spending.
Source: The 2021 budget will be approved in the Cabinet before the end of this month
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An informed source said, Wednesday, (November 04, 2020), that the 2021 budget will be approved in cabinet sessions before the end .of this month
The source said in an interview with (Baghdad today), that "the 2021 budget will be approved in the next cabinet sessions this month, ".to be sent to the parliament for a vote
The Undersecretary of the Ministry of Planning, Maher Hammad Johan, confirmed on Monday (October 26, 2020) that the 2021 budget will focus on addressing the repercussions of the health and financial crises in the country, while stopping work on new projects until .the completion of their previous counterparts in Baghdad and the provinces Johan said, in a press statement, followed by (Baghdad Today), that "the decision to stop will not include urgent cases that affect the ".need of the citizen, or the completion of a previous project that had stopped or wavered
He added that "the decision came due to the financial distress experienced by the country, through which it is not possible to start new ".projects, which leads to the accumulation of obligations concurrent with the few financial outputs
Johan indicated "the necessity of completing previous projects that have witnessed a delay in their completion, and in which work is still ongoing with limited financial capabilities," noting that "the precedence will be to complete the assigned projects and stop entering into contractual obligations that the public treasury carries additional sums that cannot meet its obligations during the two years Or the next " .three years
High oil prices ... for this reason
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Oil prices witnessed a rise today, Wednesday, due to fears of fluctuations in dealers, according to the results of the voting in the US presidential elections.
Global Brent crude futures rose to $ 40.63 a barrel, an increase of 2.32% over the previous closing price, while US West Texas Intermediate crude futures traded at $ 38.62 a barrel, an increase of 2.42%. About the previous settlement price.
The rise comes despite an increase in the number of coronavirus infections around the world, which is fueling concerns about fuel demand.
It is scheduled to be released later today, data on crude inventories in the United States, which is expected to show an increase of 900 thousand barrels last week, after an increase of 4.3 million barrels in the previous week.
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.
Click on the link above for the latest update.
The CBI for rate is 1190.
The currency auction total sales amount $ 178,350,000.
including $ 17,350,000. CASH
ISX Update:
www.isx-iq.net/
Shares Traded: not updated for today
Value Traded: not updated for today
11-4-2020 Newshound/Intel Guru Mnt Goat Article: "IRAQ: REVENUE DIVERSIFICATION CONTRIBUTES TO THE ACTIVATION OF THE PRIVATE SECTOR" This article should be nothing new to us. This is all over in the White Paper. Diversify, diversify, diversify! This revenue alone will surpass or at least rival the oil revenue. Imagine how rich Iraq is going to be if they can get the employee salaries (even 50%) also moved over to the private sector? That’s reserves that will amount to about 2.5 Billion a month. Rich! Rich!, Rich! Right now, they are the 4th riches country in the world. Oh – and you have some of their currency? Oh – and you bought it for less than a penny on a dollar…SMART!
11-3-2020 Newshound Guru Pimpy ...IMO...the Iraqi dinar rate change needs to happen in order to help Iraq...whatever is happening with the Iraqi dinar, whatever this event is this currency plays a huge role in it. I can't help but feel like whatever this role is it's also possibly tied into all these peace agreements that are happening all over the Middle East. That's my opinion. It's pure speculation.
11-3-2020 Newshound/Intel Guru Petra it's been a revolving door in Iraq with multiple countries coming in and out signing memorandums of understanding. Signing deals and all that stuff I got to believe a performance clause which states that this contract will be engaged once the rate is established...
11-3-2020 Newshound/Intel Guru Mnt Goat So once again, in less than a month, the flood gates opened pouring out VERY GOOD news? WOW! Iraq adopted the White Paper last month of October 2020 for Economic Reform. There is no need for a vote in parliament. It is done! All this news today points in only one direction – Iraq is setting themselves up for international trade and to use their dinar. They are going to make their dinar very valuable once again as in the past. Oh – don’t forget the WTO is meeting with Iraq delegation again in early November (...this month!). Remember they said they were going to “fast-track” Iraq into the WTO. WOW! ...Iraq is moving to completing the project to delete the zeros VERY SOON and this leads to the reinstatement of the IQD...If you like to dance you may start now because this news today is dance worthy… I am dancing now…lol...
11-3-2020 Intel Guru MarkZ [via PDK] Quiet in the banking world…but a lot of chatter from my different government contacts as they expect within 10 days from tomorrow we will finally have a reset...i am hoping this is accurate…we are all so ready for this this craziness to be over...the chatter is really solid…that no matter who wins today we will finally get the reset…my sources in Iraq are very upbeat that once we get through this circus and distractions that we will be good to go…again based on government sources…they are looking for the reset anytime during the next 10 days.
11-3-2020 Intel Guru Delta ...the U.S. they did devalue the Iraqi dinar and they are the one to bring it back again. Of course it has to be the right time and the right people in place...it's obvious to all of us right now, it's crystal clear, that all the action taken by the Central Bank of Iraq...they are about to come out with a rate now...my personal opinion...once the election is over...everything is going to break lose as far as the Iraqi dinar...
11-3-2020 Intel Guru Frank26 ...and then Rafidain banking is offering to us special awards to open accounts at their bank giving citizens interest on accounts as financial reward for opening accounts and they're telling us stop hoarding the dinar at home. Bring it in." Bring in the three zeros...it's down to three weeks or less...the government of Iraq is in a hurry now to have the CBI show the new exchange rate internationally because of Donald Trump. Not only for the HCL. Not only for the retirees. Not only for the salaries. But for you a citizen of Iraq. You are about to be a currency hub of the Middle East. A powerhouse. One to one with the United States of America currency... [Post 2 of 2]
11-3-2020 Intel Guru Frank26 [Text from Firefly boots on the ground Iraqi citizen in Iraq] "Mr. Frank on Iraqi television news today is saying the United States of America has helped Iraq with building and supporting the currency of Iraq so that Iraq will be accepted throughout the world and makes our currency even stronger. Saying the Central Bank of Iraq and the United States of America have worked together and the United States of America has been the major reason why our currency will be world widely acceptable and stable...Parliament Financing is also announcing on Iraqi television that they are stopping all pay for the month until further notice... [Post 1 of 2...stay tuned]
11-3-2020 Intel Guru MarkZ [via PDK] [How can some people say there is no redemption centers when you know people that are at them?] just ignore the entire concept that are “No Redemption centers”. I know people that work at 3 of them…in real life…in many areas banks may be acting as redemption centers.
11-3-2020 Intel Guru Footforward [So looks like [Guru] Frank is saying he looks for the rate to be at least $3.86 not to bad and it could go up from there.] That 3.86 is not a new figure from him either. That's in a range I believe is very possible in my opinion.
Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
The Council of Ministers holds its regular session under the chairmanship of the Prime Minister, Mr. Mustafa Al-Kazemi
Today, Tuesday, the Council of Ministers held a regular session chaired by the Prime Minister, Mr. Mustafa Al-Kazemi, during which they discussed the latest developments in the country in addition to discussing the topics included in the agenda.
The Minister of Health and Environment presented a detailed report on the Corona pandemic, the challenges facing the ministry, and the government efforts made to contain the pandemic and reduce its danger, and to provide all medical and health supplies to face it.
After the council discussed the topics included in its agenda, it issued the following decisions:
First/
1- Approving the amendment of the instructions for the classification of contracting companies and contractors and their inclusion in the black list, in a manner that allows the extension of the objection period stipulated in Article (8 / third) of the aforementioned instructions, for another period and for specific reasons, to be a general rule from which all contracting companies and contractors benefit .
2- Extending the period granted to contracting companies and contractors for an additional period of (30) days.
3- It applies to the previous cases in relation to the objection granted to the companies included in the blacklist.
Second / Approval of the recommendation of the Ministerial Council for the Economy regarding the recommendations of the Diwaniya Order Committee (20 of 2019), which is competent to re-examine Cabinet decisions (40 and 365 of 2016) confirmed, according to the following:
- Approval of the recommendations (1, 2, and 3) contained in the accompanying report of the Central Bank of Iraq, number M / 1/179 of 9/25/2019, with the deletion of the phrase (and not included) mentioned in paragraph (1-e). ) Of the recommendations, taking into account the opinion of the Ministry of Finance.
Third/
1- Agreeing to authorize the Minister of Finance, Mr. (Ali Abdul Amir Allawi), the power to negotiate and sign a draft agreement to avoid double taxation and prevent evasion from paying taxes on income and capital between the government of the Republic of Iraq and the government of the Republic of India, as amended by the State Council, based on provisions Article (80 / Clause Six) of the Constitution.
2- The Ministry of Foreign Affairs prepares the necessary authorization document in the name of the government of the Republic of Iraq for the Minister of Finance in accordance with the approved contexts, and submits it to the General Secretariat of the Council of Ministers in order to obtain the signature of the Prime Minister.
Fourthly/
1- Agreeing to authorize the Minister of Finance, Mr. (Ali Abdul Amir Allawi) the power to negotiate and sign a draft agreement to avoid double taxation and prevent evasion from paying taxes on income and capital between the government of the Republic of Iraq and the government of the Republic of Turkey, as amended by the State Council, based on provisions Article (80 / Clause Six) of the Constitution.
2- The Ministry of Foreign Affairs prepares the necessary authorization document in the name of the government of the Republic of Iraq for the Minister of Finance in accordance with the approved contexts, and submits it to the General Secretariat of the Council of Ministers in order to obtain the signature of the Prime Minister.
Fifth / First: Approval of the recommendations confirmed in the minutes of the meeting regarding the security surveillance camera system in Baghdad Governorate by completing the remaining percentage of the project according to the following conditions:
1- Adherence to the prices specified by the technical authorities (Ministry of Interior, Ministry of Communications), at the time of price analysis and the year of processing.
2- Obliging the supplying company to hand over the project’s maps, pin numbers, and everything related to the security camera system.
3- The beneficiary (Ministry of Interior) endorsing the receipt of the project, according to the technical specifications approved by the Baghdad governorate.
4- Obliging the implementing agency to maintain the project according to the formula approved by the governorate of Baghdad.
Second / Baghdad governorate investigating the project in question, according to the State and Public Sector Employees Discipline Law No. 14 of 1991 as amended, and taking appropriate measures regarding violators of the instructions in force.
Third / Transferring the project from Baghdad governorate to the Ministry of Interior, in order to follow up and supervise the completion of the project.
Media Office of the Prime Minister
3-November-2020
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ARTICLE 2 (from Government of Iraq twitter account)
11-3-2020 around 1:15 pm Eastern PM Spokesperson: The Cabinet discussed the start of the new academic year during the current #Covid19 health emergency. The Higher Committee for Health and National Safety will set out the relevant measures and mechanisms to ensure the safety of students and teachers. hPM Spokesperson: At today’s Cabinet meeting, PM @MAKadhimi directed the Ministry of Transport to expedite the signing of contracts and the completion of the Great Al-Faw Port Project in Basra. This is a strategic project that will make Basra a significant global port. PM Spokesperson: Iraq did not sign an ‘oil for construction’ agreement with Egypt. What the two countries did sign were several MoUs in a number of fields as agreed at the Iraq-Jordan-Egypt Summit held in Amman in August.
PM Spokesperson: What happened in Basra a few days ago was caused by a member of the security forces firing live ammunition into the air. This action was contrary to the orders of the Commander-in-Chief and the person responsible is being investigated.
PM Spokesperson: This government has repeatedly made clear its commitment to protecting peaceful protestors. This was exemplified in the way the protests of 25/10/2020 were policed.
PM Spokesperson: At today’s Cabinet meeting PM
@MAKadhimi directed the Ministry of Finance to work on expediting the payment of pensions and social security benefits. And once Parliament approves the fiscal deficit law, the government will pay the delayed public sector salaries.holds a press conference in Baghdad to brief the media on today’s Cabinet meeting and domestic developments.
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ARTICLE 3
Parliament sends the election law to the presidency for approval
11/3/2020 16:37 •
[Continue-Where]
Hassan al-Kaabi, First Deputy Speaker of the Iraqi Parliament, signed on Tuesday the amended version of the Iraqi election law.
A parliamentary source said that Al-Kaabi had signed the amended version of the law to be sent to the Presidency of the Republic for approval.
The Iraqi Council of Representatives (Parliament) completed the end of last October to vote on electoral districts in the legislative elections law.
According to the new election law, the distribution of electoral districts is as follows: 17 in Baghdad, 8 in Nineveh, 6 in Basra, 5 in Dhi Qar and Sulaymaniyah, 4 in Babylon, Anbar, Arbil and Diyala, and 3 each in Kirkuk, Najaf, Salah al-Din, Dahuk, Diwaniyah, Karbala and Wasit Maysan, and two seats in Muthanna.
The article on electoral districts was the most prominent controversial paragraph between the political blocs, and it took months to agree on it.
And relies on the new election law to organize early parliamentary elections on the sixth of next June.
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ARTICLE 4
Al-Karawi: The borrowing law will be brought up for discussion next week, and its passage needs a fundamental amendment
11/3/2020 20:48 •
[Baghdad-Where]
Representative Mudhar Al-Karawi confirmed, on Tuesday, that the borrowing law will be put on the table of Parliament next week.
Al-Karawi said, "After the government confirmed that paying salaries to employees, the borrowing law needs to be passed to bridge the financial gap due to limited revenues, whether from oil or the rest of the internal revenues, so the borrowing law will be put on the table in Parliament next week."
Al-Karawi added, “There is a preliminary consensus to pass it, but after making a fundamental adjustment in the amount of the borrowing to avoid exhausting the national economy with more debts that result in financial benefits that are not small, pointing out that its passage came in order to ensure that salaries are paid to millions of employees, especially since most of them depend directly on them. In walking their daily lives and meeting the daily requirements of their families.
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ARTICLE 5
Al-Fateh warns of changing Al-Halbousi: It will affect the Federal Court and the financial deficit
11/3/2020 15:39 •
[Baghdad-Where]
MP for the Al-Fateh parliamentary bloc, Fadel Al-Fatlawi, warned on Tuesday of the "Sunni" movement seeking to change Parliament Speaker Muhammad Al-Halbousi, indicating that it would affect the legislative authority and pass laws.
Al-Fatlawi said, "The Sunni movement chose Osama al-Nujaifi as president of the Iraqi front, and this choice has many dimensions and personal and electoral interests," indicating that "it will complicate the political scene and the legislative authority in the coming period."
Deputy Fatlawi added, "The Sunni movement to change the parliament speaker will affect the legislative authority and approve important laws in the parliament, including the Federal Court, financing the fiscal deficit and the general budget for 2021."
And Al-Fatlawi said, "Talking about this is not in defense of Al-Halbousi," explaining that "this movement will complicate the political scene and will have many consequences, including disrupting the oversight role of the House of Representatives."
The "Sunni" Iraqi Front, led by Osama al-Nujaifi, is seeking to withdraw confidence from Parliament Speaker Muhammad al-Halbousi, and replace him with another president from the same front after the "agreement."With the Shiites and the Kurds in this regard.
This front consists of 35 deputies, and includes blocs of the Salvation and Development Front, the Masses Bloc, the Arab Project, the Islamic Party and the Independent Iraqi Bloc - as well as the contribution of independent representatives.
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