WOTS FRI MAR 12 21
No My FX Buddy Podcast today
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1460.0000 | 1465.0000 | 1457.8000 | 1456.5000 | 1457.8000 |  -0.1000 | 16:00 |
| USD/VND | 23055.0000 | 23058.0000 | 23037.2600 | 23021.9200 | 23035.9600 | -11.2600 | 16:00 |
| USD/CNY | 6.5075 | 6.5095 | 6.5073 | 6.4851 | 6.4928 | 0.0144 | 16:00 |
| USD/KWD | 0.3020 | 0.3027 | 0.3026 | 0.3021 | 0.3021 | 0.0002 | 16:00 |
| GBP/USD | 1.3921 | 1.3924 | 1.4004 | 1.3863 | 1.3990 | -0.0074 | 16:00 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 |  0.0000 | 00:00 |
| USD/IDR | 14383.0000 | 14400.0000 | 14436.0000 | 14285.0000 | 14292.0000 | 92.0000 | 16:00 |
Vatican low on reserves to cover deficit, seeking donations...
Philly to dim lights to make it safer for birds in flight...
why would they even create this?
Touching $ 70 ... Iraqi oil rose to its highest level in 14 months
Price of one barrel of oil from Basra Light crude touched $ 70 today, in a rise of Iraqi oil to its highest level in 14 months.
And Basra Light Oil, a supplier to Asia, according to the official newspaper, increased by 4.37%, to touch $ 70 a barrel.
While the price of Basra heavy oil recorded an increase as well, where the price of a barrel reached $ 65.8, an increase of 4.76.
The last moments ... Parliamentary Finance reveals the latest developments in the budget debate
A member of the Parliamentary Finance Committee said that "there is convergence regarding the share of the Kurdistan Region in the draft federal budget law for the current year 2021."
Sherwan Mirza said in a press statement, "The Kurdish blocs are waiting for the Shiite blocs to present their last opinion regarding the region’s share," noting that "there is convergence between the two sides in opinions."
He added, "The government proposal and the proposal of the Shiite blocs are close."
Mirza ruled out "passing the budget law in the House of Representatives without the Kurds," noting that "there may be a final agreement regarding the region’s share in the last moments before the vote on the bill in the parliament session scheduled for next Monday."
The Speaker of Parliament, Muhammad al-Halbousi, had directed in the last session to include the draft federal budget bill for 2021 in the parliament session scheduled for next Monday, based on a request submitted by Representative Yusef al-Kalabi signed by 150 deputies.
International Monetary: Biden plan will positively affect the global economy
The International Monetary Fund considered that US President Joe Biden's plan to stimulate the domestic economy will positively affect global growth.
"The US plan will have" positive effects on the rest of the global economy, "said IMF spokesman Gerry Rice, during a press conference in Washington, DC.
He expected most countries to benefit from "the increase in American demand for basic commodities, as well as imports of goods and services ... which will contribute to global growth and recovery."
But the international official called for monitoring the potential risks of pumping huge amounts of money into the world's largest economy. Analysts expect the plan to lead to higher inflation.
And economists around the world have recently raised warnings of the possibility of a sharp wave of inflation in the various countries that have approved stimulus packages, with the wave reaching developing countries and negatively affecting the economic growth figures for the world as a whole.
"We have to be alert to the risks, and countries must be alert to any potential risks," Rice said.
In January, the IMF expected the US economy to grow 5.1 percent in 2021.
Rice said that the fund is currently expecting, after the stimulus plan, additional growth between 5 to 6 percent annually over the next three years in the United States, and "this means reviewing positive expectations for the US economy, and raising global growth expectations."
The fund is expected to publish an update on global economic growth forecasts, via the "World Economic Outlook" report, on April 6.
"Until then, we will conduct a more in-depth analysis of the impact of the US recovery plan," added the Fund spokesman.
Last January, the International Monetary Fund raised global growth forecasts from 5.2 percent to 5.5 percent. As a result of the acceleration of vaccine campaigns against the Corona virus, and the government's economic support plans
New changes in the exchange rates of the dollar attract the attention of the Iraqi street ... "significant" consequences predicted by economists
Wide anticipation continues in the Iraqi street for any new decision related to changing the exchange rate of the dollar again in Iraq and reducing it or returning it to its previous price, after the committee formed to study the consequences of changing the exchange rate announced that it would come out with recommendations to the Council of Ministers within 30 days.
While there is talk, anticipation, and calls for restoring the previous exchange rate, economists have highlighted major consequences that may occur as a result of changing the exchange rate.
Economic expert Manar Al-Obaidi says in a blog posted by "Yass Iraq", "There are a lot of discussions these days regarding the review of the exchange rate and whether it will be changed or not and return it to 1200," noting that "any change in the exchange rate in this near period will have major repercussions Including the loss of confidence in the Iraqi economy.
He adds: "The exchange rate was made under pressure from the World Bank and the international parties supporting Iraq, and the process of returning the price will lead to a reduction in support from these parties," noting that "even with a change in exchange rates, most of the materials will not return to their normal prices directly, but rather a period of distrust In the Iraqi market, it will make importers maintain a high exchange rate for fear of a return to its rise.
He explained that "the government should take advantage of the currently high price of oil to immediately start building industrial strategic projects capable of providing raw materials for manufacturing industries, which will support the provision of a local product capable of providing various products to the Iraqi market."
He stressed that, "If the exchange rate must be changed, it is better to move towards floating the dollar instead of the policy of controlling the exchange rate and depleting hard currency to maintain a constant exchange rate," noting that "what is required from the Ministry of Planning is to work strongly to clarify the sectors that most affect the rise in the dollar price And work vigorously to launch program packages to reduce the impact of the depreciation of the dinar on these sectors, especially in the food and health sector.
He continued, "Working to issue a performance follow-up report for the development plan, which is the basis for building the country and activating the correct economic policies instead of focusing on monetary policy, which is supportive of economic policy and not the pillar of the Iraqi economy," stressing "the need to activate the 3 trillion initiative that was announced." About the Central Bank to support vulnerable groups and work to activate the ration card and improve its vocabulary
CBI Update: Just a note:
including $0. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
3-12-2021 Newshound Guru Kaperoni ...There is no RV. The only way the dinar will go up in value is with the success of the private sector. Iraq needs to continue to pass laws that are critical to the growth of the economy. Only with significant investment and the development of a private sector will the dinar begin to go up in value. There are no shortcuts...
3-11-2021 Newshound/Intel Guru Mnt Goat Article: "AL-HALBOUSI: PRESENT THE BUDGET TO A VOTE SOON, AND WE WILL PROCEED WITH THE LEGISLATION OF THE OIL AND GAS LAW" I have always said that Iraq will need to fully implement their new constitution of 2005 no matter what this means prior to the reinstatement of their currency. There is not much more to do. We know they need a referendum for the Article 140 part to settle how these disputed pieces will be managed and who will manage them. There is also the infamous oil and gas law. Both of these are now in their final stages and we should finally see them. There is also the court reforms that are expected...
3-11-2021 Newshound Guru Pimpy Article: "Member of Parliament on the exchange rate of the dollar: It will continue until this date" What? Is there a date for the rate? Quote: "...calls for a reduction or restoration of the exchange rate to its previous state." ...what does this mean? ...some people think it means restoring it to its previous rate of $3.22 for every dinar...It isn't very clear here...IMO a jump that big at this moment would be a bad move...It would cause the collapse of the dinar jumping to the $3.22 rate. Not quite yet. Let's let them get things going and then let's see what happens. Restoring it back to the 1190 level I can see that...yes you guys can make all kinds of arguments both ways about what the rate should be. I understand that... does that mean it will never change? No...it could change by next month that's the thing, we have to watch what they do...When Kuwait went to change their dinars they told people it wouldn't happen for years then it happened two days later...
3-11-2021 Intel Guru MarkZ [via PDK] Well, if you are following any news from Iraq you should be excited…they are ramming HCL (Hydro Carbon Law) through so they can change their value…. I have talked to a couple contacts on the ground inside Iraq and HCL is being pushed and they are trying very hard to have a new value within the next 2 weeks. Even all my redemption center people are on call now…on standby for now and for the weekend…they need to be able to report to the centers within a couple of hours. …things are getting exciting…
3-11-2021 Newshound Guru Jeff "The House of Representatives completes voting on the Federal Court Bill" They've had attempts to pass this Federal court Law for a very long time over many many years...It's part of the basket of suspended laws...it's also linked and timed with the rate change. It can only happen in close proximity to the rate change. Last week they finished 6 out of 10 parts...yesterday they finished the last 4 sections. At this time the Federal Court Bill has been completely passed and approved...that's huge progress...Iraq is now graduating back to the international world...
3-11-2021 Intel Guru Frank26 Question: [The Bank of International Settlements - the central bank of all central banks and it is a requirement by the BIS that they be notified within a certain amount of time (and that fluctuates) as to when a country is going to change their currency rate...Has the BIS been notified of the imminent rate change of Iraq?] In my opinion yes.
3-11-2021 Intel Guru Bruce [via WiserNow] You know...by now that Iraq could have done their thing many times over...but they – and...Central Bank of Iraq – is the governing body that controls the rate of the Dinar...However – even though Iraq is considered a sovereign nation now – they are still subject to the Treasury of the United States to more or less give them the go ahead as to when to release the new rate...today we find that Iraq has a I think the term “deadline’...There’s a theoretical deadline let’s call it for Iraq to do this on Sunday the 14th...I have heard of a window that was given to me today that took us from tonight to all the way to Saturday – and this is from a really good source...So – we have a lot to look forward to this week – I believe we are in really good shape for this to go now...we do know that the rates are going to be fantastic – I think even a little better than we thought...
Al-Kaabi: We are going to approve the Federal Court’s law ... this is about holding the elections on time
Parliamentary integrity: Most corruption cases end with the dismissal of the official without an account
Parliamentary law excludes passing the laws of the Federal Court and the budget during Monday's session
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