| The exchange rates of the dollar in Iraq continued to rise today, Tuesday. The exchange rate on the Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad reached 1271 dinars to the dollar, or 127 thousand and 100 dinars per hundred dollars. Yesterday's price on the two bourses was 1258.5 dinars to the dollar. As for the selling price in the money exchange shops in Baghdad, it was 1275 dinars, and the purchase price was 1260 dinars. On the Erbil Stock Exchange, the dollar’s price also witnessed a rise, with the selling price reaching 1270 dinars and the purchase price of 1265 dinars. The owners of exchange offices attribute this rise to news of the government's intention to raise the exchange rate of the dollar against the dinar and the people's willingness to buy.
The Markets: Asian markets closed down the NIK by .30% HSI by .76% SHANG by .19% The UK markets are currently trading in the red from Our futures are currently trading DOW at 29938 down by .40% SNP at 3674 down by .45% NDX at 12553 down by .34%%
Precious Metals: Gold is red at 1862 Silver is red at 24.61 Copper is red at 347 Aluminum is red at 2006 Platinum is red at 1022 Brent 48 WTi 45
Favorite Currencies Forex Quotes| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|
| USD/IQD |  1169.5000 |  1219.0000 | 1193.2000 | 1192.9000 | 1193.2000 | 0.4000 | 15:05 | | USD/VND | 23128.0000 | 23129.0000 | 23114.7100 | 23114.7100 | 23114.7100 | 0.8000 | 00:32 | | USD/CNY | 6.5298 | 6.5318 | 6.5379 | 6.5203 | 6.5288 | 0.0009 | 05:19 | | USD/KWD |  0.3040 | 0.3050 | 0.3043 | 0.3041 | 0.3043 | -0.0002 | 05:07 | | GBP/USD | 1.3341 | 1.3342 | 1.3378 | 1.3323 | 1.3378 | -0.0039 | 05:22 | | USD/IRR | 42000.0000 | 42210.0000 | 42097.4000 | 42097.4000 | 42097.4000 | 0.0000 | 16:00 | | USD/IDR | 14090.0000 | 14132.0000 | 14163.0000 | 14088.0000 | 14093.0000 | 18.0000 | 05:22 |
Al-Rafidain: 4% interest granted to citizens who deposit their moneylink It was just 3.5%!
Rafidain Bank announced, on Tuesday, financial benefits of 4 percent for citizens who deposit their money with the bank. The media office of the bank said in a statement that the information received, a copy of it, that "the interest of citizens' savings accounts is given 4 percent to those who deposit their money in the bank and is calculated at the end of each month."
The bank called on citizens to "visit bank branches, see instructions, deposit their money, benefit from this service and receive the financial benefits provided by the bank."
Parliamentary Finance: the disbursement of employees' salaries is not linked to next year's budget legislation link A member of the Finance Committee, Jamal Cougar, confirmed, on Tuesday, that there is no link between the draft general budget for next year and the payment of employees' salaries. The Iraqi News Agency quoted Cougar as saying, "There is no correlation between the salaries of employees and the legislation of the general budget law for next year, because the government has the powers, temporary borrowing." He added that "temporary borrowing that allows the government to have the authority to do so is limited from one day to 90 days, and it can be extended to 180 days, without resorting to presenting any law of its own." He added that "the 2020 budget has not been approved, and therefore the 2019 budget is continuing, and the provision of liquidity is done by borrowing, after which it turns into permanent borrowing, within the loans included in the general budget." A government move to change the exchange rate in the 2021 budget and warn of the collapse of bankslink The economic expert, Abdul Rahman Al-Mashhadani, revealed, on Tuesday (December 8, 2020), the government's intention to change the exchange rate in the 2021 budget, while he warned of the collapse of banks. Al-Mashhadani said in to IQ NEWS , that "the change in the price of the dollar is related to the government's actions as a ministry of finance with the idea of preparing the 2021 budget." This will push traders to raise its price even more. " He added that "the exchange rate of $ 100 may reach 160 thousand dinars, and this is an indication of the instability of the economic market," noting that "any change in the exchange rate gives an indication of instability in the market, which draws confidence from the owners of deposits in dinars." He warned of "the influx of distributors on Iraqi banks to withdraw their dinar deposits and convert them into dollars, as happened in Lebanon, but the opposite happened to them," noting that "this may cause the banks to collapse easily." It is noteworthy that the exchange rate of the dollar against the Iraqi dinar rose yesterday, as the selling price of $ 100 reached 127,500 dinars and the purchase of 126,500 dinars.
Oil Prices Fell To Less Than $ 49 A Barrellink Oil prices decreased in morning trading today, Tuesday, with increasing fears of weak demand with the increase in cases of Covid-19 virus around the world. Brent crude futures for February delivery fell 0.7% to $ 48.45 a barrel. The US "NYMEX" crude for January delivery also fell 0.6% at $ 45.49 a barrel. The "OPEC +" organization decided, at the end of last week, to increase oil production by about 500 thousand barrels per day, with the beginning of January.
Iraq prepares its industrial cities for investment link Iraq is close to announcing new investment opportunities in the industrial cities in the provinces, with the aim of attracting foreign and local investments to implement promising projects in the country. Amal Al-Bazouni, director of planning and studies at the General Authority for Industrial Estates affiliated with the Ministry of Industry, said: “The authority is working to transform industrial cities into model industrial cities with integrated services to be civilized cities, as well as paying attention to industrial development as a basic source of national income through the localization of factories in cities to be They are considered as integrated industrial complexes in which all the basic services and equipment are available, and work to encourage the private sector to invest in them. Currently, we are working to follow the issues of urban investment.
" She added that " The authority is following up with the Anbar Governorate and the relevant departments in it the delivery of basic services to the borders of the industrial city in the province, which has an area of 3000 dunums, and there is great cooperation on the part of the governor in this aspect, as there are many investment opportunities and privileges offered in the governorate to the investors. To declare the industrial city in Najaf soon as an industrial investment plan, and its announcement has been delayed due to the delay in the legislation of the industrial cities law, and the settlement of its land ownership, indicating that the city has a strategic location; It is close to the Sea of Najaf, its fertile land and close to the sources of infrastructure, and its area is 6000 dunums. " News Of Shutting Down The Internet In Kurdistan In light of the increasing demand for protests in the Kurdistan region, it was reported that the Internet service was cut off in Sulaymaniyah. Continued.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 results of the foreign currency sale window on Wednesday 9/12/2020 and executed today
The currency auction total sales amount $ 197,450,000 .
including $ 32,200,000. CASH
ISX Update: www.isx-iq.net/ Shares Traded: not updated for today Value Traded: not updated for today
https://www.dinarguru.com/12-8-2020 Newshound Guru Jeff Article: "Urgent Parliamentary Finance: The government will reformulate the 2021 budget and send it to Parliament next week" Quote: "Ministry of Finance and the International Monetary Fund to update the exchange rate of the the Iraqi dinar..." I stressed to you that the borrowing law was the last step needed in order for them to change the exchange rate. That's why right now Iraq's putting a huge emphasis on the exchange rate, their economy and on the banking reforms...they have to change the rate by the back wall the end of March...everything's looking really good...
12-7-2020 Intel Guru Footforward Article: "Negotiations between Iraq and the International Monetary Fund to determine the exchange rate of the dinar" ...I think the IMF has been pushing Iraq for at least 6 months to do this. So I don't think this is a new development. Just a renewed push on the part of the IMF...they are wanting them to increase their rate.
12-7-2020 Newshound Guru Pimpy Article: "Oil disturbs Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the numbers to "reduce the financial deficit!" So here we go talking about the rate change again. It's been mentioned all week long...they're not even hiding it anymore. There is a lot of talk about the exchange rate...we know the rate change has to be discussed...It looks like they are going to make it part of the 2021 budget...yes, I'm excited like you are...
12-7-2020 Newshound Guru Jeff Most of their articles right now are talking about the exchange rate and launching their economy and getting it international. When they put an emphasis on something they're telling you what they're working on it. They're telling you they're in the process of working on that exchange rate. They're telling you they're at the end of the road and they're ready and preparing to change that exchange rate. They're telling you that is their next step. It does not get any better than where we stand right now. We are in the best position we've ever been in...
12-7-2020 Intel Guru MarkZ [via PDK] We have a crazy week ahead of us… Money did not move over the weekend and Iraq did not get a new rate. Still hearing lots of chatter from Iraq …they expect a vote on Tuesday or Wednesday (Note: not sure on what?)
12-7-2020 Newshound Guru Pimpy ...There is a lot of talk about the rate change. This whole past week has been crazy. Real crazy. Lots of articles about the rate and the rate change...and it's been back and forth. We heard they want to lop the zeros off...devalue the dinars...I told you guys it makes no sense. There's been lots of studies done that show that that's not a good move for Iraq because it effects the poor and devaluing your money is really bad when it comes to increasing the amount of debt. Now lopping the zeros off the exchange rate would be a huge benefit for us. There's been a lot of indications that that is the direction they plan on going to. No, we don't know the date. No, we don't know the rate...But they explained several times why they will not devalue the dinar...
12-7-2020 Newshound Guru Jeff Iraq is pretty much now out of Chapter 7 sanctions...They got off the OFAC list and everybody else's naughty list...this article came out yesterday "Oil disturbs Iraq's 2021 budget: an expected update of the dinar exchange rate and amending the number to reduce the financial deficit!" There's only one thing...that needs and requires the exchange rate. It's a reform payment for the funding of the reforms...And we know they have to make that payment by the end of March...that means they also have to change the rate by the end of March... Quote "the ministry of Finance and the International Monetary Fund to update the Iraqi dinar exchange rate before the end of the fiscal year." You guys are in the best position that you've ever been. Iraq can now change the rate anytime between now and the end of March. [post 2 of 2]
12-7-2020 Newshound Guru Jeff This is very very important. Here's an older article September 6, 2012 "Delete the zeros must be at the beginning of a fiscal year" They can only delete their zeros (that means change the rate) at the beginning of a new fiscal budget period...here's why...this is a different article from August 12, 2012 "Saleh drew the interest of the Exchange must be with the new fiscal year, the Iraq government's accounts cannot be registered in the same year, two forms of financial values" They cannot have 2 different exchange rates during the same fiscal year ...Iraq's fiscal year before they went under the Chapter 7 sanctions...so prior to 1990...was April through March... [post 1 of 2...stay tuned]
12-7-2020 Newshound Guru MilitiaMan Article: "Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the numbers to "reduce the financial deficit!" Quote: "...with a special committee from the Ministry of Finance and the International Monetary Fund to update the Iraqi dinar exchange rate before the end of the fiscal year,..." ...Look who is showing up tomorrow to meet with some key players...The Ministry of Finance and the IMF are talking about a change is coming to IQD exchange rate... They are going to a market economy are they not? They are not going to devalue that is sure, imo. They are going to increase the value, imo by the deletion of the three zeros from the exchange rate. Hence, the need for the new small category notes the CBI spent tens of millions on...The broadcasting of the exchange rate to change speaks out oh so very loudly...Lets see what they do next...
Catnip's Corner:
| |
No comments:
Post a Comment