WOTS TUE DEC 15 2020
The dollar fell in the markets of Baghdad and Kurdistan on Tuesday, December 15, 2020, after rising significantly on Monday.
According to a reporter of The Shafq News Agency, the Central Struggle Stock Exchange in Baghdad recorded today, 127,800 Iraqi dinars against 100 U.S. dollars, and the Harthia Stock Exchange recorded the same price.
The Central Struggle Stock Exchange in Baghdad on Sunday evening recorded 132,000 Iraqi dinars compared to 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 127,250 Iraqi dinars, while the purchase price was 128,250 dinars per 100 U.S. dollars.
In Erbil, the capital of Kurdistan province, the dollar also fell, with the selling price of 127,800 per 100 dollars, and the purchase at 127,500 per 100 U.S. dollars.
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1188.0000 |  1194.0000 | 1191.8000 | 1191.8000 | 1191.8000 | -0.4000 | 00:40 |
| USD/VND | 23126.0000 | 23127.0000 | 23117.9600 | 23111.5900 | 23111.5900 | 7.4100 | 00:40 |
| USD/CNY | 6.5452 | 6.5474 | 6.5549 | 6.5424 | 6.5494 | -0.0040 | 05:17 |
| USD/KWD |  0.3050 | 0.3060 | 0.3050 | 0.3050 | 0.3050 | 0.0000 | 05:17 |
| GBP/USD | 1.3347 | 1.3349 | 1.3351 | 1.3280 | 1.3326 | 0.0022 | 05:19 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.4000 | 42097.4000 | 42097.4000 | 0.0000 | 16:00 |
| USD/IDR | 14181.0000 | 14185.0000 | 14206.0000 | 14063.0000 | 14179.0000 | 3.0000 | 05:18 |
Economic Talk
The talk within the councils of society reached to secure salaries and what news is circulating about him and any ministries secured their salaries, they should not have traded in a country like Iraq that has the most important gates of trade and its shortest between the east and west of the world.
We hope that the path of talks will be diverted towards major strategic projects, which move the country to the stage of sustainable development, and here comes the role of the planner and collective conviction, with real development events within the economic system, and that the national spirit will be present, to promote economic performance.
The state of swings in economic decision-making is not working. Iraq urgently needs decisions that do not intersect and accept no more than one explanation. The legal environment is the basis for the process of economic development, which is the basis of the investment of the international effort that owns technology, capital and local and regional effort.
Our talk must be refocused on the great port of Fao, the independent fao economic authority, which creates a global industrial and commercial centre within fao city, as well as the dry canal, which represents a permanent and important financial asset for the trade of the globe as a whole, as well as projects to invest natural and human resources.
According to one of the specialized centers, "investing in this wealth is a glory and achieving great financial benefits for the country, and in the world several successful experiences during which the human resource achieved unparalleled success, where we stand at the Indian experience that has invested the intelligence of its human resources, and today it achieves nearly $120 billion annually revenue for its federal budget, which makes it imperative that we move towards investing our human energies properly and transforming them from a dysfunctional force to a powerful and skilled force in various disciplines.
Iraq is the gateway to important economic activity throughout the globe, with its major economic activities and tigers, and we can forge a new new era of comprehensive economic development by providing an ideal investment environment, attracting the world's largest companies and creating bilateral partnerships, promoting productive and service sectors, strengthening Iraq's position on the list of the world economy, and we must establish facilities of interest to the international economy, as I have mentioned in the recent events.
In a patriotic spirit, we can change reality and make the eyes turn to the bright light from the Iraqi arena of action, which is awaited by major international companies.
The Central Bank of Iraq is not responsible for the exchange rate hike
Economic expert Daoud Abd Zayer considered that what happened in the local market in terms of the rise in the exchange rate of the dinar is not responsible for the central bank, but rather it is caused by speculators taking advantage of irresponsible statements, stressing that the exchange rate will decrease in the coming days.
Zayer said in a press statement followed by Al-Independent today, Tuesday, that “the weakness of the financial culture in Iraq may make local speculators take advantage of this, and the statements of the existence of a proposal to raise the exchange rate of the Iraqi dinar against the dollar have been exploited, which led to local chaos, as the exchange rate is still stable with the bank.” Central ”.
He added that "the irresponsible statements that do not have any basis on reality led to this fabricated chaos and that the exchange rate will return within the few days."
Abd Zayer demanded, "Officials, especially those who have no experience in the financial aspect, not to raise such statements because the only affected will be the general population of the poor and low-income because of the rise in foodstuffs and others, in addition to that it will be a free service for currency speculators."
Talabani: Kurdistan is ready to implement the implementation of the law to bridge the fiscal deficit
Member of Parliament, Alaa Talabani, said that the Kurdistan Regional Government is ready to implement the fiscal deficit bridging law recently voted by the parliament.
She added that the Kurdish delegation is in Baghdad, in order to implement Article Seven of Saad’s Financial Deficit Law, as the region will grant the amount of oil agreed upon with SOMO as well as half of the non-oil revenues.
And she stressed that it requires the region to solve the problems with Baghdad to overcome the current and future crisis that will arise after the implementation of the 2021 budget.
The representative economy determines to "Al-Zawraa" the reasons for the high exchange rate of the dollar in the local markets, and it is likely to decrease within two day
The daily revenues do not exceed 140 million dollars, and the central bank’s sales reach 180 million dollars ... The representative economy determines to "Al-Zawraa" the reasons for the high exchange rate of the dollar in the local markets, and it is likely to decrease within two days.
The Parliamentary Economic and Investment Committee identified the reasons for the sudden increase in the exchange rate of the dollar against the Iraqi dinar in the local markets, and while it was likely that its normal price would return within two days, an economist attributed the reasons for the decline in the exchange rate of the dinar to the decline in the cash reserve at the Central Bank of Iraq.
A member of the Parliamentary Economic and Investment Committee, Nada Shaker, said in an interview with Al-Zawraa: The sudden and significant increase in the exchange rate of the dollar against the dinar may be due to the lack of financial resources, as well as the Prime Minister’s statement that the salaries of the first month of next year will not be paid, as well as The increasing withdrawal of the dollar in the market as a result of economic concerns.
She added: The continued rise of the dollar without the presence of real solutions will have serious repercussions on the economy, and lead to an increase in the prices of goods entering Iraq. Criticizing the central bank’s policy of maintaining the exchange rate, she continued: There are well-known parties controlling the currency auction, which led to the fluctuation of the exchange rate.
The exchange rate of the dollar is likely to return to normal within two days, because the government will have to take urgent measures to reduce it. For his part, the economic expert, Saleh Al-Hamashi, said in an interview with Al-Zawra: The main factor that affects the high exchange rate of the dollar in the local markets is the rumors and the Iraqi economic situation, as the citizen recently felt insecure and insecure in the dinar, so he resorted to storing the dollar, and the transactions also became in dollars.
Above the small ones, whether at the level of electrical appliances or cars, and even the role began to deal in dollars, and the demand for the dollar became very large, which led to its rise. Stressing: There are fears among the Iraqi citizen of the collapse of the dinar, so he resorted to storage and hoarding. He pointed out: Even the companies and banks that enter the window of currency sale have begun the process of storage and legalization of sale.
Indicating: The problem is not in the currency auction but in companies.
He continued: The Central Bank was supposed to take into account this issue and hold accountable the banks and financial companies entering the currency sale window and account for it accurately in the process of selling and exchanging the dollar. It is expected that the dollar will continue to rise as a result of the central bank selling quantities of dollars, offset by lower revenues from the sale.
Explaining: Iraqi revenues do not exceed 130 to 140 million dollars per day, while the central bank sells 160 to 180 million dollars per day, that is, more than revenues, which led to a deficit in the central bank and a decline in cash reserves from 68 billion dollars to 59 billion dollars, Al-Hamashi stressed: This greatly affected the reputation of the Iraqi dinar at home, especially for companies and monitors of the financial treasury, because the central reserve is constantly monitored by businessmen.
He went on to say: If the government does not speed up the process of commercial exchange, especially before The Ministries of Finance and Trade and the Central Bank, if they do not cooperate to control import operations and the entry of goods and the quantity with the price, there will be a big problem and the price of the dinar will drop to frightening records
including $ 18,850,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
2-14-2020 Newshound Guru MilitiaMan Article: "Which is the savior of the Iraqi economy ... internal or external financial diversification?" More data to support they are gearing to go out to external markets with and international exchange rate. They are moving to an external debt source of financing in where it creates more investments and creates more jobs for SMEs. By doing so it will support the new market economy and with a better likelihood to be successful in doing so. Iraq has plenty of youths to fit the model.. imo This looks very good.. "Prices that return to normal?" Would that imply they are about ready to go back to the glory days? They say they are going to delete the three zeros from the exchange rate or at least change it during this fiscal year. They also tell us the Dinar is to converge with the Dollar, too. 1:1 in country. imo!
12-14-2020 Intel Guru Footforward [Is the HCL going to finally be implemented and made law!..] that and article 140 should go hand in hand.
12-14-2020 Intel Guru MarkZ [via PDK] [Could this possibly be our week?] Yes it could… So far today...Iraq does not have a change in value of the dinar…they are expecting by mid month and we are right there…right now…hopefully this will be our “Breaking week”... [I just saw on Dinar Guru that the dinar just dropped 20 points.] That is a good sign…it means the dinar is unpegging…look for a dip and then a spike. This is exactly how I was told 15-20 years ago how it would unfold…it is now unfolding as I had heard it would… [So are we looking at a 2021 RV or an 2022 RV?] I think we are in the midst of it right now!!! I think we will know once and for all this week. [Note: You can always see the latest official CBI dinar market rate in the left column on this page.]
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.
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