WOTS THUR JAN 7 21
The prices of the dollar and a number of foreign currencies and minerals on Thursday (January 7, 2021).
And the prices of foreign currencies, gold and oil came globally, according to the Iraqi Political Economic Center for today as follows:
The sale price of the dollar is 145,000
The purchase price of the dollar is 143,000
OPEC prices rise to more than $2
OPEC announced Thursday that its prices rose by more than 2 dollars, influenced by other raw materials.
"The price of the OPEC basket of thirteen barrels of crude rose 2 dollars and 54 cents to $53.29 per barrel," OPEC said in a statement to Shafq News, adding that "the price was up from the previous day of $50.75, according to opec secretariat calculations."
"OPEC's oil prices have risen on the back of other raw materials, which have also been affected by Saudi Arabia's decision to cut production for next month and to reduce US inventories," it said.
The ORGANIZATION of Petroleum Exporting Countries (OPEC) reference basket consists of: The Mix of The Sahara (Algeria), Gerasol (Angola), Orient (Ecuador), Zaveero (Equatorial Guinea), Rabe Lit (Gabon), Iran Iran), Basra Lit (Iraq), Kuwait Export (Kuwait), S. Seder (Libya), Bonnie Light (Nigeria), Arab Light (Saudi Arabia), Morban (United Arab Emirates) and Miri (Venezuela).
Three reasons for the central bank's decline in sales: this is what's going to happen next
On Thursday, Adm. Jamal Cougar, a member of the parliamentary finance committee, identified three reasons for the decline in the central bank's sales.
"The previous sales of the central bank through its daily auction were not real, they covered more than the market needs," Cougar told Shafq News, adding that "the purpose of the merchants and banks who were buying the dollar through this auction was profit and that these profits were reduced, which affected the bank's sales."
"The proliferation of speculation in the markets was a second reason for the low sales of the central bank, as the savings of the citizens have not yet fully ended," he said, adding that "the end and return of savings to their previous places, people will accept the new government rate."
"The real trader or investor who needs the dollar will now turn to the market to get the dollar because it is cheaper than the central bank and therefore it is another reason for the low sales of the central bank," cougar said.
It is noteworthy that the central bank's sales declined after the central bank raised the exchange rate of the dollar to record sales of 8 million dollars in the last auction session held by the central bank after it reached more than 200 million dollars."
The budget is on the Parliament table next Saturday
On Thursday, the representative of the Parliamentary Education Committee, Tohme Al-Lahibi, suggested that the House of Representatives would hold a parliamentary session next Saturday to discuss the 2021 budget bill, after it extended its legislative term.
Budget 2021: Delete "some paragraphs" within days and add others ... The goal is "to pressure spending and reduce the deficit."
The Parliamentary Finance Committee confirmed today, Thursday, that it is not possible to vote on the 2021 general budget in the current format.
A member of the committee, MP Thamer, Theban said in a press statement: "The size of the deficit in the 2021 budget has reached 71 trillion dinars, and the total spending has reached 164 trillion dinars, and this means that the budget is not reformative as the government claims."
He pointed out that "Parliament will hold extensive discussions regarding the article related to the region’s share and the export of oil to achieve the principle of justice among all provinces."
He added that "the Finance Committee will, next week, discuss the items of the general budget, and will work to delete some paragraphs, and add others or make the necessary adjustments to them to pressure spending and reduce the deficit."
He pointed out that "the Finance Committee will proceed to address the legal violations that were included in the budget, including bypassing the Financial Management Law for the year 2019 by reducing the financial deficit."
The government approved the draft federal budget bill for the fiscal year 2021, in preparation for a final vote by Parliament in the coming days.
A leaked copy of the draft budget revealed amendments affecting the poor and middle classes.
The intensity of the controversy increased after the draft showed an amendment whereby the exchange rate of the dollar against the Iraqi dinar was proven to be raised at 1450, which caused a massive wave of anger among the political and popular circles and the repercussions of this on reducing the purchasing power of the citizen and causing a market depression.
According to the draft budget, a few days ago, the value of the budget amounts to 91 trillion and 790 billion, 155 million and 429 dinars, with a deficit of more than 58 trillion.
The budget estimated, according to the draft, the price of a barrel of oil on the basis of the price of 42 dollars a barrel, and an export rate of 3 million and 250 thousand barrels per day, including 250 thousand barrels exported from the Kurdistan region.
The budget also estimated the exchange rate of the dinar at 1450 per dollar, according to what was announced by the Central Bank, while the region’s share of it was determined at about 12%.
And in the first appearance after its approval, Iraqi Prime Minister Mustafa Al-Kazemi reassured young state employees that the public financial budget for the next year 2021 will not affect their salaries, but rather higher-ranking employees.
"The budget will not affect the salaries of employees from the two classes that make up the majority of the people," Al-Kazemi said in a press conference after the cabinet voted on the 2021 budget during an extraordinary session, referring to the junior employees.
He pointed out that the budget was presented to the political blocs and won the support of all of them.
In turn, Minister of Labor, Adel Al-Rikabi indicated that 40% of the salaries of the three presidencies and 30% of the total salaries of MPs and ministers will be deducted in the 2021 budget.
For his part, Finance Minister Ali Allawi said, "We made a change to exchange the price of the dollar to protect the economy."
He added that "the revenue difference by changing the exchange rate will be allocated to support vulnerable groups in society," noting that "the budget is the first step in the path of economic reform."
In turn, Minister of Planning Khaled Battal said, "The volume of investment spending will be around 8 trillion dinars, indicating that the budget included the suspension train, Faw port and some other projects."
CBI Update: Just a note:
including $100,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
1-6-2021 Newshound/Intel Guru Mnt Goat Article: "AL-KAZEMI: STOP BIDS AT THE EXPENSE OF IRAQ " Quote: "THE YEAR 2021 IS THE YEAR (THE IRAQI ACHIEVEMENT). WE WILL ALL REACH THIS ACHIEVEMENT QUICKLY AND EFFICIENTLY, AND THE STATE WILL PREVAIL. IRAQ WILL TRIUMPH OVER ALL CHALLENGES." I have said this before that this is Iraqi’s last chance for the needed reforms. There will be no other opportunities. Heh, didn’t they tell us recently that they planned on a 5% GDP in 2021?
1-6-2021 Intel/Newshound Guru Frank26 Article "Blue and green .. Two types of dollars in Iraq .. Explanation for the "mystery" of low market prices compared to the official pricing .. Which number will be proven?" The auctions are dropping. The American dollar is being flooded. The three zeros are disappearing - They're looking for that sweet spot...these two colors are playing a very large part in the monetary reform of the Iraqi dinar...it is extremely easier to remove the USD from the markets of Iraq than it is to remove the three zero notes from the markets of Iraq...more information will start to flow now and probably towards the end of this week...it will start to flow about these two colors...this is another good sign...the stuff they're doing right now is simply brilliant. Greenbacks huh? I like the blue ones {wink}...
1-6-2021 Newshound Guru Adam Montana We don't have any guest speakers, we're not giving away ginsu knives, but we do have a great chance of "YOU GET AN HCL! YOU GET AN HCL! EVERYONE GETS AN HCL!!!" in the near future! GOOOO RRRRVVVVV!!!
1-6-2021 Newshound/Intel Gurus Walkingstick & Frank26 The [Iraqi] tellers - that's where we are at. They are already trained. They already know what it looks like. They know how to distribute and answer questions. The more you see the American dollar disappear in the next two weeks the better position the new small category notes will be to finally come out...we feel the monetary reform is on course...
1-6-2021 Intel Guru MarkZ [via PDK] We did see some interesting things in the financial world. We are seeing changes of value of the dinar compared to the Vietnamese dong. We did see in options in Iraq that they are pulling almost every US dollar off of the street. This tells you they are close to changing their value …swinging the value up because they are literally getting the US dollars off of the streets in the options.
1-6-2021 Intel Guru Frank26 What you have seen the last few days is the pumping of more Iraqi dinars into the market of Iraq. It would have been really bad news if we would have seen that they were dumping more 3-zero notes...that would have been a disaster...Because then you would have a time period to collect those 3-zeros...this is the goal...There's nothing more important than monetary reform right now. No longer Iran. No longer security and stability. It is now focused on citizens...By George it's working. They did not bump 3-zero notes back into the market...no. What they did was double up on their sales of the U.S.D sales of their auctions...
1-6-2021 Newshound/Intel Guru Mnt Goat Article: "IRAQI BANKS HAVE UNDERTAKEN REFORMS, COINCIDING WITH THE IRAQI GOVERNMENT’S MEASURES TO REFORM THE ECONOMY." Quotes: "The Central Bank of Iraq announced in a statement Dec. 19 the devaluation of the Iraqi dinar to 1,450 to help reduce the country’s fiscal deficit in the state budget for 2021 from 70 trillion to nearly 30 trillion dinars."; "Simultaneously, Iraqi banks have undertaken additional measures to optimize the Iraqi economy. In the past weeks, government banks intensified calls for citizens to deposit their money in their bank branches instead of hoarding it at home." ...here it is in black and white in the news, in your face. It is what I have told you as to one of the reasons why the devaluation of the dinar. Do you believe me now what they are doing?
1-6-2021 Newshound/Intel Guru Petra All accounts and all budgets since 2017 are now current. We're talking about the 2017 FML, 2020 budget. What's in the the 2020 budget? The new rate. That's why we're so excited. All these pieces and parts are coming together...this is all coming together to a point and there's much more coming...
1-6-2021 Newshound/Intel Gurus Walkingstick & Frank26 Respect the first 2 weeks of January in order to expect a second change in the rate of the Iraqi dinar. But this time it will be higher. Not lower...they have pumped up the dollar into the markets of Iraq while collecting as many 3-zero notes as possible during this 1450 rate. They kill 2 birds with one stone. They collected the 3-zeros and they invested internationally at a rate that was more advantageous to them. Brilliant...
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