WOTS MON DEC 21 2020
this says
Protestsiin Majjafdemnandittie dismissal of the Al - Kazemi government a SIK 100 Nam 10 A) - JB 0000001 TO) We demand the dismissal of Al-Kazemi, his government, the governor of the Central Bank and all the opposition
The dollar's exchange rate fell in Baghdad and Kurdistan on Monday, December 21, 2020.
According to a reporter for The Shafq News Agency, the Central Struggle Stock Exchange in Baghdad recorded today, 142,500 Iraqi dinars against 100 U.S. dollars, and al-Harithiya Stock Exchange in Baghdad recorded 142,500 dinars for $100.
Baghdad's Central Struggle Stock Exchange on Sunday recorded 145,500 Iraqi dinars for 100 US dollars.
Our correspondent pointed out that the prices of buying and selling also decreased in the banking shops in the local markets in Baghdad where the selling price reached 143,500 Iraqi dinars, while the purchase prices reached 141,500 dinars per 100 U.S. dollars.
In Erbil, the capital of Kurdistan, the dollar prices also declined, with a decline in demand in erbil markets, with a selling price of 141,800 per 100 dollars, and purchases of 141,000 per 100 USD.
An official at the Central Bank of Iraq (CBI) said on Sunday (December 20, 2020) that the new price for the sale of the dollar was launched at the auction of the currency.
"The bank has started applying the new dollar price," the source told Shafq News, adding that "it was sold at auction today for 1,450 dinars per dollar."
According to a document received by Twilight News, the governor of the central bank issued a directive to government and civil banks informing them of the new dollar exchange rate.
The Markets:
The Asian markets closed mixed NIK down by .18% HSI down by .72% SHANG up by .76%
The UK markets are currently trading in the red from 1.82% to 3.23%
Our futures are currently trading in the red the DOW at 29544 down by 1.89% the SNP at 3628 down by 2.10% NDX at 12539 down by 1.36%
Precious Metals:
Gold is red at 1875 Silver is green at 26.15 Copper is red at 356 Platinum is red at 990
Brent 51 WTi 46
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|
| USD/IQD |  1175.1000 |  1224.3000 | 1192.4000 | 1191.7000 | 1192.4000 | 0.2000 | 10:11 |
| USD/VND | 23120.0000 | 23140.0000 | 23119.6800 | 23117.9600 | 23117.9600 | 2.1900 | 01:30 |
| USD/CNY | 6.5516 | 6.5536 | 6.5541 | 6.5360 | 6.5360 | 0.0164 | 05:15 |
| USD/KWD |  0.3043 | 0.3053 | 0.3043 | 0.3041 | 0.3041 | 0.0002 | 05:02 |
| GBP/USD | 1.3242 | 1.3246 | 1.3453 | 1.3189 | 1.3420 | -0.0277 | 05:17 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.4000 | 42097.4000 | 42097.4000 | 0.0000 | 16:00 |
| USD/IDR | 14254.0000 | 14279.0000 | 14258.0000 | 14095.0000 | 14140.0000 | 155.0000 | 05:17 |
Things in the news:
Iraqi Articles:
Oil prices are declining amid fears of the new Corona virus
link
Oil prices plummeted in early trading with the spread of the new strain of the Coronavirus in the United Kingdom, raising fears that tightening restrictions there and in other European countries could impede the global economic recovery.
Brent crude fell 97 cents, or 1.9%, to $ 51.29 a barrel by 0103 GMT, after rising 1.5% and touching its highest level since March last Friday.
West Texas Intermediate crude fell 83 cents, or 1.7%, to $ 48.27 a barrel, after rising 1.5% on Friday to its highest level since February.
Monday's declines came after oil prices posted seven straight weeks of gains last week as investors focused on rolling out Covid-19 vaccines.
KRG will not transfer crude to Somo under new agreement
link
Iraq's Kurdistan Regional Government (KRG) will not hand over 250,000 b/d of its physical crude to state-owned marketer Somo under a new agreement reached between Baghdad and Erbil.
The 2021 draft budget stated that the KRG must hand over 250,000 b/d of its crude to Somo in order to receive its share of the federal budget — a clause that has long been a point of contention between Baghdad and Erbil.
But the KRG is unable to transfer this crude to Somo for export as it has already sold its marketing rights to five trading firms against loans it has been receiving since 2014, an Iraqi oil source said. The ministry of finance is therefore calculating the KRG's oil revenues to be deducted from its share of the 2021 budget, the source added.
KRG oil export revenues have totaled just over $4bn so far this year, according to Argus estimates, around half of year-ago levels. The KRG produces around 450,000 b/d of crude, with exports having averaged around 415,000 b/d so far this year.
"The Kurdistan region exports its oil at prices that are less than Somo oil by $5/bl to $7/bl," finance minister Ali Allawi said, adding that 2021 budget — which is being discussed by the cabinet today — could be sent to parliament for approval within a week.
Negotiations between Erbil and Baghdad to resolve the dispute have taken place over the past two weeks. This, coupled with plans by the government to devalue the Iraqi dinar have delayed the approval of the 2021 draft budget required to kick-start much-needed economic reform.
Rafidain Bank begins to distribute the salaries of employees for the month of December
link
Al-Rafidain Bank announced, on Monday, that it will start distributing employees' salaries for the month of December.
The bank’s media office said in a statement received by "Al-Eqtisad News", that salaries have been paid to employees for the self-financing and central departments.
The bank called on employees to receive their salaries wherever they are.
Comment from the US Secretary of State on the bombing of Baghdad
link
US Secretary of State Mike Pompeo commented, on Monday, about the recent bombing of the capital, Baghdad.
"The Iranian-backed militias attacked again blatantly and recklessly in Baghdad, which resulted in the injury of Iraqi civilians," the US Secretary of State said in a blog posted on "People" (December 21, 2020).
"The people of Iraq deserve to be prosecuted for these attackers. These violent and corrupt criminals must stop their destabilizing actions."
An Expert Warns Of Iraq's Return To International Trusteeship
link
Legal expert, Ali Al-Tamimi, warned of the return of Iraq to the international trusteeship, “Chapter Seven” of the United Nations Charter.
Al-Tamimi said that Iraq is still under Chapter VI of the United Nations Charter, and that there are financial assets with Kuwait worth 4.5 billion dollars, and if the political, security and economic crises continue, the Security Council in Iraq may return to the international trusteeship, i.e. Chapter Seven of the United Nations Charter.
He added that according to Article 50 of the United Nations Charter, states that are fighting parties under Chapter VII may request economic assistance from the Security Council. Britain and France have declared their willingness to help, and Iraq has fought ISIS, which is placed under Chapter VII under Resolution 2170 of the Security Council.
He pointed out that there is a money laundering agreement for the year 2005 related to the retrieval of smuggled money in accordance with Articles 55 and 56 of which there are fees for recovering these funds. Iraq signed it in 2007 by Law 35 of 2007, and the value of smuggled funds is estimated at $ 500 billion.
And he indicated that in the US Federal Bank, $ 65 billion belong to the former regime, and it is the property of the Iraqi people, which Iraq can claim in accordance with Article 28 of the Iraqi-American Strategic Agreement for the year 2008, which allows Iraq to request economic aid from America.
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.
no update for 12/17/2020
The currency auction For December 21, 202o total sales amount $155,939,353 .
including $ 9,000,000. CASH
ISX Update:
www.isx-iq.net/
Shares Traded: not updated for today
Value Traded: not updated for today
https://www.dinarguru.com/2-21-2020 Newshound Guru Pimpy Article "Parliament will extend its legislative territory with the arrival of the budget next week" Quote: "a draft of the physical budget version of 2021 which included a fixing the exchange rate of the dollar against the dinar to 1450." ...you could buy 1190 dinar for 1 dollar. What that means is now you could buy 1450 dinar for $1. That's not good. It's going in the wrong direction. We need this number to shrink...
12-20-2020 Newshound/Intel Guru RVAlready [The article of them lowering the value is of no consequence in the expectation of them RI their currency...we are in the midst of motion to that goal now.] ...I expect this will just pop out of nowhere. I don’t think they want anyone to figure this out.
12-20-2020 Intel Guru RayRen98 ANOTHER RATE CHANGE IS ANTICIPATED FOR IRAQ...TIME WILL TELL...SOME BANK STAFF ARE TO REPORT "BEFORE" 6 AM. THEY SAY THEY EXPECT THIS TO BE IT! TIME WILL TELL...
12-20-2020 Intel Guru Footforward [is the dong raising in value soon] Vietnam was still fighting Trump on a rate last I heard. That's part of why they are being called out now.
12-20-2020 Newshound Guru Pimpy Why you should not panic...we know what's going on. They are announcing the rate change has increased. There are lots of articles about it. Washington Post Article: "Iraq's central bank devalues dinar by 22% amid public anger" ...Here's what's going on. They're devaluing their dollars...I don't feel discouraged one way or the other about this...I don't anticipate this rate change being long term. Iraq is going to be the gateway into the Middle East. There's no doubt about it. Once they start rebuilding it's really going to take off...the stronger the economy becomes the stronger their currency becomes... This might be their way of shaking speculators off of the dinar. They're trying to get you to stop buying dinar...
12-20-2020 Newshound Guru Kaperoni ...the Central Bank of Iraq will officially devalue the dinar this Sunday to 1450 to $1...I do think they will end up floating and then anything is possible.
12-20-2020 Newshound Guru Jeff Iraq did indeed changed their exchange rate today [Devalued to 1460]...it's really not a big deal...Why did Iraq do this? Iraq's inflation was sliding a little bit. It was rising...up to about .8%. That's the reason they devalued it. They still have very low inflation. They're still below 1%. So they just had to devalue the currency a little bit...this is nothing major...this move has nothing to do with economic reforms. This is just a band-aid...this is not a "rate change"...this is nothing more than a hiccup...
12-20-2020 Newshound Guru Pimpy Yep. I know. I see it. There is a lot of talk about what's going on over there in Iraq...about the Iraqi dinar exchange rate and what we're seeing in the news...there is a lot of speculation as always...keep in mind no matter what anybody says it's all speculation...it is all over the news about the rate...
12-20-2020 Newshound Guru MilitiaMan Article: "Before launching the new dollar rate, find out how much you will lose from your salary and how much it will become actual?" Again they have not come all this way to devalue, imo... It makes no sense to anyone. Especially the international markets.. It is laughable... imo They are telling us why they wont devalue, imo... It harms the citizens...The monetary illusion is that they are going to 1450 when they reduce the three zeros, the illusion goes away and purchase power is still be powerful imo. Why would the FM [Minister of Finance] be bragging about a devaluation? Makes one shake their head...Big time. So when reducing the zeros, gets the real income and purchase power!! imo...
Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)
Prime Minister Mustafa Al-Kazemi receives the Kuwaiti ambassador to Iraq
The Prime Minister, Mr. Mustafa Al-Kazimi, received today, Sunday, the Ambassador of the State of Kuwait to Iraq, Mr. Salem Ghasab Al-Zamanan.
During the meeting, they discussed cooperation between the two neighboring countries, strengthening bilateral relations, strengthening joint economic relations, and following up on grants that were previously offered to Iraq during the reconstruction conference hosted by the State of Kuwait in 2018.
They also discussed the activation of the joint Iraqi-Kuwaiti Higher Ministerial Committee and strengthening its work.
Al-Kazemi assured the Kuwaiti ambassador that Iraq is keen on building the best ties and means of cooperation with the State of Kuwait in all sectors, in a way that secures the stability of the region and the well-being of its people.
His Excellency also extended an invitation to the Prime Minister of the State of Kuwait, Sheikh Sabah Al-Khaled Al-Sabah, to visit Iraq for more joint cooperation.
Media Office of the Prime Minister
20-Dec-2020
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ARTICLE 2 (from Government of Iraq twitter)
12-20-2020 around 10:00 am Eastern *************
ARTICLE 3
Is it possible to appeal the decision to raise the selling price of the dollar? ... legal clarifies
20/12/2020 20:34
[Baghdad-Where]
Legal expert Ali Al-Tamimi revealed, on Sunday, the possibility of challenging the decision to raise the selling price of the dollar.
Al-Tamimi said, “The Central Bank, according to its Law No. 56 of 2004, is an independent body according to Article 3 of this law and also the Central Bank’s instructions for the year 2017, and thus it is the one that determines the exchange rate. ”, Pointing out that“ raising the dollar exchange rate to 1450 violates articles 30 and 31 of the Iraqi constitution, which obligate the state to provide a free and decent life and adequate income, and also this procedure violates Articles 23 and 26 of the International Covenant on Civil and Political Rights. ”
He added that "this law can be challenged if it is legislated by Parliament before the Federal Court, and Parliament can not agree to legislate this law and return it to the government for amendment."
Yesterday, Saturday, the deputy of the Al-Fateh Alliance, Hamid Abbas, considered the increase in the price of selling the dollar in the Iraqi market as a product of the absence of a real economic policy to save
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ARTICLE 4
Al-Watania warns of massive public anger along the lines of the "October Revolution"
12/2020 20:39
[Baghdad-Where]
TheNational Coalition warned of massive public anger that may turn into new sit-ins similar to the October Revolution of last year, warning against holding the simple citizen responsible for the current political failure, wrong policies and poor planning.
The coalition stated in a press statement today, Sunday, that the leader of the coalition, Iyad Allawi, had warned of the deterioration of the situation and its arrival to the current situation five years ago, and during a lengthy letter he sent to the former Prime Minister Haider al-Abadi on June 19, 2015, in which he warned against the spread of the phenomenon of corruption.
The coalition indicated that Allawi called during that letter to assign an international, honest and recognized body to supervise the dollar market in the Central Bank of Iraq as a result of the serious problems that occurred in it, especially with regard to the use of public funds in purchasing the dollar’s "flying sukuk" and its use in money laundering.
The coalition revealed that Allawi said in his message that he had agreed with the late MP Ahmed Chalabi at the time, and that he had sent a copy of the letter in a timely manner to the President of the Republic, the Speaker of Parliament, and the Chairman of the Parliamentary Finance Committee.
The National Coalition expressed its regret that Allawi's proposals were not dealt seriously at the time, explaining, "It was possible to avoid the current catastrophe if his warnings were taken seriously."
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ARTICLE 5
Deputy: The 2021 budget will be the largest in the history of Iraq despite the financial crisis
20/12/2020 19:23
[Baghdad_Where]
MP Muhammad Al-Baldawi confirmed, on Sunday, that the government will present the highest budget in the history of Iraq during 2021 despite the financial crisis.
Al-Baldawi said that "the 2021 budget, which the government will present to the parliament, will reach 150 trillion dinars, which is the highest in the country's history," noting that "this figure did not reach even the explosive budgets, as if the country was not going through a crisis and had to borrow twice to secure the salaries of its employees."
He added, "The House of Representatives will push to protect the citizen and the employee in several ways if the budget reaches him because the government is unable to find and provide effective solutions to the current crisis," stressing that "the budget will be subject to dialogues and provide better solutions than the solutions of the government that does not have a vision in the economic scene." .
Iraq suffers from a severe financial crisis in light of government decisions that pushed to raise the exchange rate of the dollar, which contributed to increasing public opinion’s concern about food prices.
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