WOTS FRI DEC 17 2020
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1188.0000 |  1194.0000 | 1192.4000 | 1191.7000 | 1192.4000 | 0.2000 | 10:10 |
| USD/VND | 23124.0000 | 23126.0000 | 23118.3000 | 23109.3000 | 23109.3000 | 9.0200 | 10:15 |
| USD/CNY | 6.5364 | 6.5384 | 6.5437 | 6.5319 | 6.5323 | 0.0042 | 10:53 |
| USD/KWD | 0.3039 | 0.3046 | 0.3043 | 0.3039 | 0.3039 | 0.0002 | 10:05 |
| GBP/USD |  1.3508 | 1.3509 | 1.3586 | 1.3472 | 1.3578 | -0.0070 | 10:53 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.4000 | 42097.4000 | 42097.4000 | 0.0000 | 16:00 |
| USD/IDR | 14139.0000 | 14139.0000 | 14158.0000 | 14074.0000 | 14082.0000 | 59.0000 | 10:51 |
Iraqi Articles:
Deputy: The Central Bank will officially raise the exchange rate to 1450 dinars against the dollar on this date
A member of the Parliamentary Finance Committee, MP Abd al-Hadi al-Saadawi, confirmed, Thursday (12-17-2020), that the Iraqis will witness a near shock in which a new and large increase in the dollar exchange rate will take place.
The Central Bank of Iraq will raise the exchange rate of the dollar to 1450 Iraqi dinars next Sunday," Al-Saadawi said in a televised" interview, which she followed (Baghdad Today), indicating that "what was leaked from the Ministry of Finance today from a copy of the "2021 budget encourages traders to control the exchange rate
He added that "most of the money that goes out from the auction selling the currency comes out with false invoices claiming to buy "things while the currency is smuggled out by buying unrealistic materials And on the border crossings, a member of the Finance Committee indicated that "the state does not control the financial policy, and the ".evidence is that it does not control the ports that enter prohibited materials or outside specifications Al-Saadawi stressed that "the government should take the initiative to agree with neighboring countries (Syria, Iran and Turkey) to stop ".dealing with 14 illegal outlets in the Kurdistan Region
Today, Thursday, the Ministry of Finance expressed its "resentment and deep regret" for the unauthorized publication of the draft .budget for 2021 Preparing the budget is a complex technical process that includes many ministries, government institutions and international agencies" concerned with the budget over a long period of time, and it cannot be fully understood without referring to the data, policies and " strategies that are based on it, including Government White Paper.
Releasing it prematurely to the media is an irresponsible act to a large extent, and this may precede the possibility of ministers to" comment impartially on the draft budget and amend it in a special budget session scheduled to be held next Saturday," she added ".
The ministry requested "not to pay attention to the exciting statements related to the budget that may arise during the next two days She added, "The Council of Ministers will discuss the budget in detail, and it is the appropriate place to present its recommendations regarding it.
Then the budget will be sent after its approval by the Council of Ministers, to the House of Representatives," adding that "This is the correct approach and framework for discussion and deliberation regarding the budget, not social media, which may be Full of inaccurate news.
Representative Finance: The Central Bank will take measures regarding the dollar exchange rate
A member of the Parliamentary Finance Committee, Ahmed Al-Saffar, said, Friday (December 18, 2020), that the Central Bank of Iraq will take measures regarding the price of the US dollar against the Iraqi dinar .
The official agency quoted Al-Saffar as saying, and IQ NEWS followed him , that “the leaked budget project is unofficial, and no one knows who is behind its leakage, what is the purpose of its diversion, and what is meant by the diversion, and this affected the market situation and the citizen’s psyche.” .
He added that his committee “met with the governor of the Central Bank (Mustafa Ghaleb), and that there are some measures that the governor will take,” noting that the Parliamentary Finance Committee “continues to follow up the matter, and is awaiting the arrival of the draft budget (to Parliament) so that it has its own opinion on this. Affair. ”
For his part, a member of the same committee, MP Naji Al-Saidi, said in a statement to the official agency as well, that “the governor of the Central Bank, during his hosting by the committee regarding the repercussions of the high exchange rates of the dollar towards the Iraqi dinar, indicated that this rise was caused by the government, not the Central Bank, considering The dollar comes from Iraqi oil sales that go into the Development Fund for Iraq in the United States of America.
He continued, “The real owner of the dollar is the Ministry of Finance, which sells the dollar to the Central Bank as the government accountant,” indicating that the ministry “and two months ago refrained from selling the dollar in order to raise its price towards the Iraqi dinar to bridge the general budget deficit and achieve some developmental operations according to what The government believes, and therefore, the central bank’s justifications that the rise in the exchange rate is a government decision, and it was not a decision issued by the Central Bank.
Al-Saeedi pointed out that “until this moment, the cabinet has not voted on the general budget, and the Finance Committee has not received anything official from the government in this regard.”
He stressed, “It is not possible to deduct twice from the employee, as the first deduction will be through the high exchange rate of the dollar towards the Iraqi dinar, and the second deduction is the allocations of state employees and I think in economic terms this is absolutely untrue,” pointing out that “the Finance Committee and Parliament have the authority Amending, deleting or adding what he deems appropriate during this period.
According to the initial draft of the 2021 budget, which was circulated by the media yesterday, Thursday, the exchange rate of the dollar will stabilize in the 2021 budget by 1450, or 145 thousand dinars for the 100 dollar category .
The leakage of the draft budget for 2021 led to confusion in the exchange rate of the dinar after the leaked draft set an exchange rate of 1450 dinars to the dollar, which caused a rapid rise in the price of the dollar, which jumped to more than 1350, up from a margin between 1280 and 1320 in the past days .
A member of the Parliamentary Finance Committee, Abd al-Hadi al-Saadawi, said that the governor of the Central Bank, Mustafa Ghaleb Makhaif, informed the committee that the central bank will raise the exchange rate of one hundred dollars to 145 thousand dinars as of tomorrow, Sunday.
Parliamentarian: We will not pass the 2021 budget in its current version
On Friday, Representative Mansour Al-Baiji announced that the House of Representatives rejected the leaked version of the Iraqi budget for next year, indicating that it includes catastrophic points, injustice and prejudice that will lead to great harm to all the Iraqi people, and this matter cannot be accepted completely.
Al-Baiji said in a statement that the information received, a copy of it, that “it would have been better for the government to take more serious reform steps through its support for the industry, agriculture and trade sectors to supplement the budget, not to go to cutting the people's livelihood and raising the value of the dollar against the dinar, which would cause an economic disaster for the country. “.
He added, "If the budget law is sent in its leaked form, we will not pass it through the House of Representatives, and we will not be a reason to punish our people in this disastrous way under the name of reforming the economy or any other name because this matter is considered destruction for our people."
He pointed out, “The current situation in the country does not bear such measures, especially since our people are waiting for a lot from the government in the next year's budget, such as the release of job grades and the salaries of free lecturers, the return of their contracts, and the confirmation of contracts, not for the government to cut salaries and other things that will lead to the collapse of the general situation in the country. Consequently, the government must review itself and take more serious actions, especially in the next year's budget, before sending it to Parliament in its leaked form, because we will not pass the next year's budget in this format, and we will not stand against our people, whatever the reason.
Urgent A source for the Euphrates News: The Central Bank sets a new price for the dollar, starting from Sunday
The source told that "the central bank, starting next Sunday, will adopt a new price for the dollar, at a value of 1450 dinars for one dollar {ie 145 thousand dinars for one hundred dollars}".
It is noteworthy that the Central Bank of Iraq is currently selling dollars for 1190 dinars.
The Parliamentary Finance Committee hosted, yesterday, the Governor of the Central Bank, Mustafa Ghaleb, to discuss the economic crisis and the implications of the high exchange rate of hard currency on the Iraqi market situation.
The central bank governor explained to the committee, according to a statement that "the bank is preparing to launch a package of measures that will achieve a comfortable balance in the exchange rate for the year 2021, including launching an initiative in the amount of 3 trillion to support low-income people, doubling the provision of hard currency in the market, and increasing interest rates on the Iraqi currency deposited in Banks. "
According to the leaked draft of the federal budget law for 2021, it included fixing the exchange rate of the dollar against the Iraqi dinar on the basis of {1450} and a deficit that exceeded 58 trillion Iraqi dinars. The estimated revenues from exporting crude oil were also calculated on the basis of the price of 42 dollars per barrel, and the rate of exporting 3 million And 250 thousand barrels per day, including 250 thousand barrels exported from the Kurdistan region.
The former Undersecretary of the Ministry of Finance, Fadel Nabi, attributed the decline in the value of the Iraqi currency against the dollar to banks and currency dealers who are working to raise the price of the dollar in order to achieve profits.
The leakage of the draft budget to the media and social networking sites caused widespread controversy and turmoil in the foreign currency market in Baghdad, as the exchange rate of the dollar rose in the local market in a frenzy and exceeded 1340 dinars before it fell to 132 thousand dinars after government and parliamentary assurances that the draft is not final and subject to modification.
Sulaimaniyah. Currency market swings due to the instability of the value of the dinar
The instability of the exchange rate of the Iraqi dinar against the dollar has had a negative impact on buying and selling, which has left the market in a state of anxiety and volatility, said Jabbar Curran, a currency market spokesman at the Sulaimaniyah City Stock Exchange on Friday.
"The leaked draft of the 2021 budget, which has not been confirmed, was estimated at 100 US dollars at 145,000 dinars in the currency auction, and it is estimated that banks will buy the dollar and sell it for 150,000 in the market," Curran told Twilight News.
"The IMF's proposal to the Central Bank of Iraq to raise the dollar rate, and the recent statements by the Finance Committee of the Iraqi Parliament, is to feel the pulse of the Iraqi street, because the markets will see a rise in the price of goods by up to 20 percent, and it affects the citizen in particular," he said.
The exchange rate of 100 dollars on Thursday reached 136,000 dinars in Iraq's domestic markets after the leak of the draft budget law for next year, which estimated the exchange rate of the Iraqi dinar at 145,000 dinars against 100 dollars.
According to the Iraqi government, the budget is merely a proposal from the Ministry of Finance, as part of the draft budget.
Shabandar: The poor will get poorer and the thieves richer thanks to the central bank’s dealings with thieves
Today, Friday, independent politician Izzat Shabandar considered that the wrong policies of the Central Bank and its dealings with “plundering banks” will make the poor poorer while the thieves will get richer.
Shabandar said in a tweet to him, "After the honest people of the office leaked the draft budget for the next year, which includes a proposal to raise the exchange rate of the dollar to 1,450 dinars, while the central bank continues to sell 250 million dollars a day at a price of 1190 dinars to the banks of plunder, the currency market collapses so that the poor get poorer and thieves obscene.
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