WOTS FRI MAR 5 21
According to a reporter for The Shafq News Agency, the Central Struggle Stock Exchange in Baghdad recorded 145,300 Iraqi dinars for $100, and al-Harithiya stock exchange recorded 145,350 Iraqi dinars for $100.
The Central Struggle Stock Exchange opened at 145,450 Iraqi dinars on Wednesday morning.
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 145,750 Iraqi dinars, while the purchase price was 144,750 dinars per 100 U.S. dollars.
In Erbil, the capital of Kurdistan province, the dollar prices stabilized, with the selling price reaching 145,300 dinars per 100 dollars, and buying at 145,000 dinars per 100 U.S. dollars.
According to a reporter for The Shafq News Agency, the Central Struggle Stock Exchange in Baghdad recorded 145,300 Iraqi dinars for $100, and al-Harithiya stock exchange recorded 145,350 Iraqi dinars for $100.
The Central Struggle Stock Exchange opened at 145,450 Iraqi dinars on Wednesday morning.
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 145,750 Iraqi dinars, while the purchase price was 144,750 dinars per 100 U.S. dollars.
In Erbil, the capital of Kurdistan province, the dollar price has stabilized, with the selling price reaching 145,300 dinars per 100 dollars, and the purchase at 145,000 dinars per 100 U.S. dollars.
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1442.8000 |  1493.0000 | 1457.7000 | 1456.7000 | 1457.7000 | -0.5000 | 14:28 |
| USD/VND | 23033.0000 | 23035.0000 | 23004.1100 | 22995.5000 | 22995.5000 | 10.8800 | 00:56 |
| USD/CNY | 6.4905 | 6.4925 | 6.4910 | 6.4685 | 6.4685 | 0.0217 | 05:26 |
| USD/KWD | 0.3026 | 0.3036 | 0.3025 | 0.3024 | 0.3024 | 0.0001 | 05:15 |
| GBP/USD |  1.3801 | 1.3802 | 1.3906 | 1.3788 | 1.3892 | -0.0092 | 05:26 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14415.0000 | 14416.0000 | 14417.0000 | 14265.0000 | 14287.0000 | 129.0000 | 05:25 |
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Goldman expects Brent prices to reach $ 75 a barrel in the second quarter of 2021
Goldman Sachs Commodities Research raised its forecast for the price of Brent crude for the second and third quarters by $ 5 a barrel, after OPEC and its allies kept their agreement to cut supplies unchanged and said that "the discipline of shale oil producers" is likely behind the group's increased production at a slower pace.
The bank said in a note dated Thursday that it now expects Brent prices to reach $ 75 a barrel in the second quarter and $ 80 a barrel in the third quarter of 2021.
Shale oil producers in the United States have reacted quickly to oil price gains in recent years, winning market share as Saudi Arabia and other major producers cut production, but have been reluctant to boost production since demand was devastated by the pandemic last year.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed on Thursday to extend most of the crude production cuts until April, after they decided that the recovery of demand from the Corona virus pandemic is still fragile.
"The OPEC supply strategy works because of its unpredictability and surprise," Goldman said.
"We believe that it is currently clear that OPEC + is in fact pursuing a tight oil market strategy, while our updated supply-demand balance indicates that (stocks) OECD countries are falling to their lowest levels since 2014 by the end of this year.
The bank lowered its forecast for OPEC + production of 0.9 million barrels per day over the next six months, and said supplies from shale oil, Iran and outside OPEC will likely remain severely inflexible towards prices until the second half of 2021, allowing OPEC + to quickly rebalance the oil market.
The bank said the main issue would be "a potential backlash from shale supplies, but the latest earnings season indicates that investors are still far from compensating for growth."
Parliamentary Finance: Kurdistan has not made promises to deliver its oil to Sumo because it is unable to
The Parliamentary Finance Committee confirmed, on Friday, that the political blocs had not reached any agreement regarding the share of the Kurdistan region within the draft federal budget law for 2021.
A member of the committee, Siham Al-Aqili, said in a press interview, "The Finance Committee has completed all budget items leaving only the share of the Kurdistan region," noting that "the point of disagreement revolves around the delivery of oil to the National Sumo Company."
She added that "the region has not made any real promises to deliver oil to Baghdad, and this is what prompted the political blocs to insist on delivering oil via SOMO," indicating that "the Kurdistan government is unable to deliver oil because of its foreign obligations with a number of countries
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Al-Halbousi said after the voting session on articles of the Federal Court Law: The House of Representatives is keen to proceed with the laws that were suspended in previous sessions, most notably the Federal Supreme Court Law, which has been suspended throughout previous sessions.
He explained: There is insistence from members of Parliament to proceed with legislative procedures, to complete the Federal Supreme Court Law.
He stressed that: Most of the articles of the law were voted on, and there were still articles that needed a broader discussion, as they were sensitive and related to the composition of the court and the decision-making mechanism.
He added: Successive meetings will be held with the heads of political forces and the legal committee, and these meetings will be chaired by the presidency of the Council, to reach common points.
He added, "Next Monday has been set as the date for voting on the rest of the articles of this law."
He continued: There are a number of stalled laws that the council will proceed to legislate, such as the oil and gas law, which is one of the laws stipulated in the constitution, and which will address the mechanism of dealing between Baghdad and Erbil and between Baghdad and the rest of the oil-producing provinces, and the law will be one of the council's next priorities.
Life in Iraq is “divided” into two prices, one of which is the current one, to exchange dollars against the dinar: “new solutions” to lift the poor classes
The economic expert, Rasim Al-Akidi, proposed a financial mechanism that adopts two prices to exchange the US dollar against the Iraqi dinar, while confirming that adopting two rates to exchange the dollar in the import file will protect millions of poor people in the country.
In a televised interview, Rasim Al-Aqidi said, "The import operations in Iraq during the past years were mostly conducted with unnecessary materials and others produced inside, which led to severe damage to large industrial sectors, and pushed thousands to the category of unemployment."
Al-Aqidi added, "The import process mainly depends on old mechanisms in the presence of influential parties and forces and armed wings. All this made it difficult to follow up and monitor, especially in ports and outlets," noting that "the dollar used to go out for import, but in fact it was the largest part." He runs away from him. ”
Al-Aqidi added, “The state, after its decision to adopt the new exchange rate for the dollar at 1450, can adopt two exchange rates, the first for luxury items and is according to the new price, while the other price for food and medicine can be done through a clear and uncomplicated mechanism, where the dollar is sold. For merchants and companies that intend to import food and medicine at the current exchange rate.
The economist added, "After the arrival of the materials and the completion of all procedures, including examination and payment of customs, the difference between the old and new dollar prices will be returned, which remains as trusts with the state until the import of the imported materials is verified and the rest of the other obligations are completed."
He continued, "The adoption of a mechanism for dealing with food or drug dealers through what we call the food or medicinal dollar, will ensure the arrival of materials at very reasonable prices, because they will focus on basic materials, and thus we protect millions of poor people in Iraq from high prices, and we ensure that the state continues within the framework of Withdrawing the dinar and increasing its dollar balance.
Al-Akidi emphasized that this process refers to a matter of "great importance, which is to create competition in the import of foodstuffs and medicines, to prevent their monopoly and raise their prices."
The Iraqi local markets in Baghdad and other provinces were troubled, after the decision to reduce the Iraqi currency, which included a new exchange rate for the dinar against the dollar.
Since the collapse of oil prices earlier this year, Iraq is facing an unprecedented liquidity crisis, the government of Prime Minister Mustafa Al-Kazemi has been forced to borrow from the bank’s reserves in dollars to pay nearly $ 5 billion per month, representing public sector salaries and pensions.
The decision of the Finance Committee, Ahmed Al-Saffar, resolved during the past few days the controversy over the possibility of changing the value of the dollar’s exchange and returning it to the previous price after announcing representative moves to amend it and return it to the price of 1300 or 1200 as it was the previous price.
Al-Saffar said, "The Central Bank is the only authority that has the absolute authority to change the exchange rate of the dollar and supervise the monetary system and determine the monetary mass and monetary policy, and from this standpoint it is not permissible to interfere with the policy of the Central Bank at all as it is an independent party."
He added that "what is rumored here and there regarding the presence of a representative movement, does not fall within the professional policy of the work of the central bank, it is not the right of the House of Representatives to change the exchange rate."
Al-Saffar said Sunday (February 28, 2021) that the desired goal of changing the exchange rate of the dollar against the Iraqi dinar has not been achieved, indicating that what is being said about the interference of political forces to restore the exchange rate to what it was before changing an issue outside the powers of the blocs and parliament .
Al-Saffar said, in a televised interview, followed by (Baghdad Today), that “determining the exchange rate is the exclusive jurisdiction of the Central Bank of Iraq and it is not permissible to interfere in the bank’s work.” He went on to say, “We in Parliament do not have the authority to change the exchange rate because it is an executive authority, any government. “.
He stressed that "setting the new exchange rate was based on a government decision and negotiations with the World Bank."
On the results of the devaluation of the currency, Al-Saffar commented by saying that "the direct effects of changing the exchange rate caused inflation in the market and raised prices by 20-25%, because it was assumed that citizens would turn to local goods after the imported goods rose, and this means that the desired goal has not been achieved." .
And he added, "But the problem is that there is no competition that favors local goods until the change in the exchange rate achieves significant local results."
Regarding the existence of a political move to restore the exchange rate of the dollar to before a change decision, the parliamentary finance rapporteur affirmed, "What is said about the intention of political forces to intervene to determine the exchange rate is a conversation outside their powers, because it is exclusively within the government's authority and will not be permitted."
And on the latest developments in the 2021 budget bill, Al-Saffar said, "The Finance Committee has completed its work in amending the budget and has delivered the draft to the Presidency of Parliament, but the committee has no authority to amend the exchange rate within the budget clauses and paragraphs.
CBI Update: Just a note:
including $0. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
3-4-2021 Intel Guru Footforward [...Is there reason to not exchange all your currency? If we hold some back will we be able to exchange later?] Some people feel it will go higher over time. I think they give us 30-45 days to exchange our notes. I'm not waiting. With stock markets and crypto markets down, there is alot more money to be made then your would make for just waiting for a higher rate. Sometimes you need to leave a little bit on the table to take the better deal. [NOTE: Be sure to consult your professional financial advisors at the appropriate time.]
3-4-2021 Intel Guru MarkZ [via PDK] In Iraq they are trying to get finished ...this week. I just havn't seen as much news as I had hoped. [With all the rocket attacks in Iraq…how can they possibly revalue?] Iraq’s fundamentals and mechanics are good for their currency…imo they are going to keep having unrest like this until they have a new value for their currency. They are unhappy with one side fighting each other they should have abundance and they don’t…they have scarcity. Imo you will not have peace there until there is a new value there. They have enough stability to pull that trigger…they have enough backing for their currency...
3-4-2021 Newshound Guru Jeff Isn't the news just amazing right now. We are just in the best time frame and position we've ever been in. I'm at such peace with this and very encouraged. Article: "Apostolic Journey of His Holiness Pope Francis To Iraq" ...this is very encouraging. This confirms to us that Iraq is going international...
3-4-2021 Newshound Guru Pimpy Article: "For the third day in a row..The Central Bank of Iraq sales recorded decrease in the currency auction" I told you this year they will phase this out. It looks like they're already aggressively doing it. The auctions will cease forever this year.
3-4-2021 Intel Guru Frank26 It was rather brilliant to lower the value...and now they're telling them 'we're going to now increase the value.' You see reducing it was for a reason. And increasing it is also for a reason. In the near proximal future they are going to tell them why they are about to have an increase in their currency...
3-4-2021 Intel Guru MarkZ [via PDK] [Will exchanges happen on Sundays too?] I am told yes…if it occurs late in the week or on a weekend. They want us in and out the door quickly. [Are you still feeling it will be in March from all your contacts?] Yes I am still feeling it will be in March.
3-4-2021 Newshound Guru Jeff Government of Iraq Tweet "Setting a new exchange rate for the Iraqi dinar against the US dollar is part of the economic reform program adopted by the @IraqiGovt, which films to address the immediate financial crisis and placing the Iraqi economy on a sustainable path." ...They devalued the currency on December 20th. 90 days would take us to Sunday March 21st...they started talking about increasing the exchange rate of the dinar against the dollar about a week ago Monday...wow!...
3-4-2021 Intel Guru Bruce [via WiserNow] ...what’s happening and what we’re seeing today is that some of the intel faucets are being turned off to where sometimes there is only a drip coming out of the faucet... the good news portion of that is that when things get tight – when people become tight lipped or zip lipped – and not allowed to share – under a NDA or a GAG order - they have just literally been told not to communicate – that’s a very good sign that things are close...That is probably the best indicator that we are right there – almost ready to start...
His Holiness Pope Francis begins tomorrow (Friday) a four-day visit to Iraq.
President of the Republic Barham Salih said that the visit will help bolster the values of tolerance and peace globally – not just in Iraq, adding that “the journey of Pope Francis to Mesopotamia will be a message of peace to Iraqis of all religions & serve to affirm our common values of justice and dignity.”
Prime Minister Mustafa Al-Kadhimi affirmed that the visit of His Holiness the Pope will contribute to consolidating stability and will help foster a spirit of brotherhood in Iraq and throughout the region, and that the whole world values the dedication of His Holiness to peace, human dignity and to ending conflicts.
During his apostolic visit, the Pope will meet His Eminence Grand Ayatollah Al-Sayyid Ali Al-Husseini Al-Sistani in the holy city of Najaf, before travelling to Al-Nassirya in Dhi Qar province and hold interreligious prayer service at the Plain of Ur.
The Pope will then return to Baghdad where he will celebrate Holy Mass at the Cathedral of Saint Joseph in the capital.
During his visit to Iraq, the Pope will travel to Erbil where he will celebrate Holy Mass and to Mosul, where he will recite a prayer of suffrage for the victims of war.
His Holiness will also visit the Qaraqosh community at the Church of the Immaculate Conception.
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