Wednesday, December 16, 2020

WOTS MON DEC 14 2020

 WOTS DEC 14 2020

The exchange rate of the dollar rose today, Monday, in Iraq.

The exchange rate on the Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad was 1282 dinars to the dollar, or 128,200 dinars per hundred dollars.
Yesterday's price on the two bourses was 1270 dinars to a dollar.
As for the selling price in the money exchange shops in Baghdad, it also rose to 1287.5 dinars to the dollar, and the purchase price 12,775 dinars.
In Erbil, the capital of the Kurdistan Region, the dollar price has also witnessed a rise, as the selling price reached 128,500 per hundred dollars, and the purchase at 128,000 per hundred US dollars.
In Erbil, the selling price of the dollar rose by 1285 dinars, and the purchase by 1280 dinars.



The Markets:
Asian markets closed Mixed NIK up by .30% HSI down by .44% SHANG up  by .66%
The UK markets are currently trading in the green mostly from .27% to 1.12% only one is down by .35%
Our futures are currently trading in the green the DOW at 30169 up by .78% SNP at 3677 up by .65% NDX at 12423 up by .44%

Precious Metals:
Gold is red at 1823 Silver is red at 23  Copper is green at 353 Platinum is green at 1017 
Brent 50 WTi 46

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1168.4000  1217.8000 1193.0000 1191.2000 1193.0000  -1.2000 15:34
 USD/VND  23126.0000  23128.0000 23120.1000 23114.6000 23114.6000  6.4600 21:53
 USD/CNY  6.5420  6.5440 6.5457 6.5349 6.5457  -0.0038 05:21
 USD/KWD  0.3050  0.3060 0.3051 0.3050 0.3051  0.0000 05:06
 GBP/USD  1.3432  1.3433 1.3436 1.3267 1.3358  0.0208 05:22
 USD/IRR  42000.0000  42210.0000 42097.4000 42097.4000 42097.4000  0.0000 16:00
 USD/IDR  14152.0000  14158.0000 14184.0000 14034.0000 14048.0000  -5.0000 05:19

Things in the News:


Iraqi Articles:

Parliamentary Finance suggests adjusting the price of oil in the budget to $ 49

link

On Monday, the Parliamentary Finance Committee suggested changes to the draft general budget law for 2021 and to amend the calculation of oil prices.

Committee member Abdul Hadi Al-Saadawi said in a press interview, "The recovery of oil prices, which reached $ 50, will contribute to reducing the fiscal deficit in the general budget for the year 2021, after the value of the deficit was estimated at 50% of the total amount of the budget."

He added that "the government considers it necessary to raise oil prices in the general budget commensurate with the current price of oil on world markets," pointing out that "the budget was previously prepared by the finance at a price of $ 41 per barrel."

Al-Saadawi said, "The government raises oil prices in the budget law from 41 to 49 dollars," noting that "there is no specific date for approving the budget law in the Council of Ministers

Oil continues to recover and touches $ 51 a barrel

link

 

Oil prices rose during trading Monday, before the release of the monthly OPEC report, and with the start of vaccinations against the "Corona" virus in the United States later today.

Investors hope that the start of vaccination operations against the "Corona" virus in the countries of the world will contribute to reducing the economic repercussions of the current crisis and the recovery of demand for crude.

Attention is also drawn to the meeting of the Ministerial Committee of the "OPEC +" group, which is scheduled to take place on the 16th of December, while the group will meet on the fourth of January to assess the market situation after increasing production by about 500 thousand barrels per day starting from 2021.

In terms of trading, the benchmark Brent crude futures for February delivery rose to 50.59 dollars a barrel at 09:48 am Baghdad time.

 

After a tanker exploded in Saudi Arabia ... Oil prices are rising

link

 

Oil prices rose today, Monday, thanks to hopes that the start of using Coronavirus vaccines will lead to an increase in demand for fuel, while an oil tanker explosion in Saudi Arabia has caused tension in the market.

Brent crude futures rose 1.50% to $ 50.72 a barrel, by 11:20 GMT, while US West Texas Intermediate crude rose 1.37% to $ 47.21 a barrel.

Oil gains continued amid a state of anxiety after a shipping company said that one of its oil tankers was hit by an unknown "external source" while unloading the ship in the port of Jeddah in Saudi Arabia.

"The market is assessing supply disruptions from these incidents in relation to the volumes (of supplies) that will return from Iran," said Virendra Shawahan, an analyst at Energy Aspects, adding that the outbreak of the virus in the West has affected demand. "So the price fluctuations are not surprising.

The Financial Securities Commission begins its economic reform program by motivating the investor

link

With an excellent initiative of the Securities Commission with its new administration, the work of the (Investor Day) conference, which was held under the auspices of the General Secretariat of the Council of Ministers, was concluded in Baghdad. In the presence of the Deputy Secretary General of the Council of Ministers, Dr. Farhad Neama Allah Hussein, Mr. Adnan Darjal, Minister of Youth and Sports, and a number of investors and experts in this field.
The holding of the conference coincides with the government's interest and its continuous work despite all the difficult circumstances that accompanied previous and current governments to enhance the attractive environment for capital, by issuing a package of decisions and instructions that contributed to facilitating the work of investment projects and investors, in line with what the Prime Minister presented in his government program

And his serious reform vision in the white paper, which aims to provide full support to investors in order to complete their projects according to the established timelines, to activate the investment sector, improve its environment, overcome investor problems, challenges and all obstacles, to expand a good environment for foreign investors.

Also, to continue coordination with the Securities Commission and with the various authorities concerned in this matter, based on the government's belief in supporting the private sector and investment, because of its impact on improving the economic reality and reducing unemployment rates among the youth.
The holding of the conference comes in accordance with the Securities Commission’s program to launch the custodian system in Iraq during the next year, diversifying financial instruments and providing protection for investors in a way that serves the national economy and encourages capital building in addition to the country's need to stimulate trading in securities and establish new joint stock companies. We hope that the Securities Commission, with its new administration, will be able to follow up on the implementation of the conference’s recommendations, in a way that contributes to achieving one of the goals of economic reform.


* An economic and banking advisor

Al-Kazemi Government Is Accused Of Raising The Exchange Rate Of The Dollar Against The Iraqi Dinar

link

Member of the Finance Committee, MP Ahmad Hama Rashid, attributed the great increase in the exchange rate of the dollar against the Iraqi dinar to the government's resort to financing the budget deficit by changing the price of the dollar in the currency auction.

"The government's resort to financing the budget deficit by changing the price of the dollar in the currency auction has led to an increase in the price of the dollar against the dinar, which will lead to major economic inflation," Rashid said in a press statement.

He stressed: "This rise will directly affect the citizen, because the purchasing power of the Iraqi currency will gradually decrease in the local market."

The local markets and exchange offices witnessed this morning, Monday morning, a significant increase in the exchange rate of the dollar against the dinar, as it recorded 128 thousand and 200 dinars per 100 dollars.



 

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 For December 15, 202 total sales amount $ 230,630,212. 

  including   $ 20,450,000. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

12-14-2020   Newshound/Intel Guru Mnt Goat  ...the CBI will NOT deviate from the process. This is the process as outlined by Dr. Shabibi in 2011...The only variable is what happens if they do find inflation is taking off in Iraq. This may delay the reinstatement a bit. This could cause problems. But we wait and watch is all we can do.
12-13-2020   Newshound/Intel Guru Mnt Goat   Article:  "NEGOTIATIONS BETWEEN IRAQ AND THE "INTERNATIONAL MONETARY" TO DETERMINE THE EXCHANGE RATE OF THE DINAR"   Will the IMF approve the reinstatement & float option suggested? This is what the IMF wanted all along.

12-13-2020   Intel Guru Footforward   ...There needs to be a clear distinction between exchanging notes in Iraq and having a new rate. They can't have a new in country rate without it being international. They are trying to flush USD and 000 notes out.

12-13-20   Newshound Guru NORV  [aka Guru Kaperoni]   Luckily for us, the CBI is following the IMF and trying to create a strong dinar...and suitable investment climate so the economy grows...but for that to work, the GOI needs to pass laws and get private investors to come...then and only then will they get off the peg and float...allowing the dinar to gradually rise as a result of investors/ investment.

12-13-2020   Newshound/Intel Guru Mnt Goat   ...we all know the value is way beyond what the program rate is. The CBI knows it too. So, let’s talk rate instead. If the rate of a 25,000 note was about $23 today then it will be $23 for the 25 note. No change in value. Get it? Easy!   It is just the mind set in the Iraqi people that worries the CBI. How will they mentally deal with going back to the lower denominations. Remember they had lower denominations prior to the 2003 war. These larger three zero notes were only meant to be temporary and so it is time to convert back…finally…! Once this is done then the CBI will watch for inflation for about a week and then pull the trigger on the reinstatement and FLOAT the dinar on FOREX if all goes according to plan. The rate in the US on FOREX will be gauged on the new rate of the dinar according to the new basket it is assigned to. It will get off the “de-facto” peg strictly to the US dollar as it is today.



Catnip's Corner:
*************
ARTICLE 1 (from PM Kadhimi's website)

At the time this report was submitted, there are no new articles posted on PM Kadhimi's website.

************* 
ARTICLE 2 (from Government of Iraq twitter account)
In this episode of #DedicatedToService #والنعم_منك we meet Sanaa Karim from the Baghdad Investment Commission to find out how the Commission supports investment projects. Encouraging investment is a key priority of the #WhitePaper for Economic Reform.

*************
ARTICLE 3

The Kurdistan government clarifies about the negotiations of its delegation in Baghdad: This is about the budget and the amount of 320 billion

 12/13/2020 16:41 • 
[Erbil - Where]
The Kurdistan government clarified, on Sunday, about its delegation's negotiations in the federal capital, Baghdad.
The spokesman for the Deputy Prime Minister, Samir Hawrami, said, according to Kurdish media, that "the Kurdistan Regional Government wants to agree with Baghdad, and for this purpose the regional government implements all its constitutional obligations," adding that "the Kurdistan Regional Government does not have red lines to reach." "To an agreement with Baghdad and it is ready to hand over the oil revenues that the federal government demands."
On the general federal budget law for the next year 2021 and the Kurdistan region’s share in it, Hawrami said, "The draft law has not been written and the regional government delegation is making strenuous efforts to reach an agreement with Baghdad to fix the share of the Kurdistan region and the financial dues within the draft budget law."
With regard to the issue of sending an amount of 320 billion dinars to the Kurdistan region by the federal government, Samir Hawrami said, "The political parties in Baghdad do not agree to send the amount, pointing out that for this reason the federal government did not send the amount to the Kurdistan region."

*************
ARTICLE 4

General Rasoul: The CTS kills 42 terrorists south of Mosul

 12/13/2020 18:43 • 
[Baghdad-Where]
The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasool, announced on Sunday the killing of 42 ISIS terrorists, including two prominent leaders of the sweeping torrent operation in the Ain Al-Jahsh area, south of Mosul.
Rasul said in a series of tweets on Twitter: “Under the direction of the Commander-in-Chief of the Armed Forces and the direct supervision of the Head of the Counter-Terrorism Service, Operation (Sweeping Torrent) was launched, where the heroic Counter-Terrorism Service forces raided the so-called (Tigris) sector in which ISIS gangs are active. The terrorist attack in the Ain Al-Jahsh area, south of Mosul. "
He pointed out, “The killing (42) terrorists from ISIS gangs, including the so-called governor of the Tigris sector known as (Baraa) and his deputy (Abu Mahmoud), the media official of the Tigris sector called (Abu Sayyaf) with his assistant Sajjad, and a soldier who boycotted al-Farouq Abu Sinai, as well as finding On a number of various weapons and ammunition, as well as local and foreign sums of money inside the headquarters of terrorist gangs. "
He stated, "This operation came with air support from the brave Iraqi army and the international coalition aviation."
*************
ARTICLE 5

And the first session for next year ... The stock market sets the date for its last session to 2020

 12/13/2020 14:30 
[Baghdad-Where]
The Board of Governors at the Iraq Stock Exchange decided, on Sunday, that the last trading session for the year 2020 will be on Thursday, 12/24/2020, and that the first trading session for 2021 will be on Sunday 3/1/2021.
As for today's indicators, Taha Ahmad Abd al-Salam, Executive Director of the Iraq Stock Exchange, said in a statement, that "the number of shares traded reached (1,031,499,522) shares, while the value of shares reached (707,559,242) dinars."
He explained that "the price index in today's session closed at (480.30) points, down by (0.29%) from its close in the previous session of (481.68) points."
Abdul Salam added, "Shares of (26) companies out of (105) listed companies are traded in the market, while the number of companies suspended by a decision of the Securities Commission for not adhering to the instructions of financial disclosure is (31) companies."
Pointing out that, "The number of shares purchased from non-Iraqi investors in the market reached (148) million shares, at a value of (141) million dinars, through the implementation of (70) deals on shares of (5) companies."
He pointed out that the number of shares sold by non-Iraqi investors in the market was (17) million shares, at a value of (30) million dinars, through the implementation of (18) deals on shares of (7) companies.
*************
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)