Wednesday, March 24, 2021

WOTS MAR 23 21

 WOTS MAR 23 21

Exchange offices prices:  

The sale price of the dollar is 145,500  

The purchase price of the dollar is 144,500  

approximate 





The Markets:
The Asian markets closed down NIK  by .61% HSI  by 1.34% SHANG down by .93%
The UK markets are currently trading in the red mostly from .41% to .94% the SMI  is currently up by .10%
Our futures are currently trading in the red  DOW at 32478 down  by .43% SNP at 3914 down  by .41% NDX at 13048.5 down  by .18%

Precious Metals:
Gold is red at 1738 Silver is red  at 25.60 Copper is red at 406 Platinum is red at 1176 
Brent 62 WTI  59   Bitcoin: 54,557

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1433.4000  1483.7000 1458.3000 1435.1000 1435.1000  1.3000 14:09
 USD/VND  23070.0000  23090.0000 23060.5500 23055.7300 23055.7300  6.3900 00:39
 USD/CNY  6.5118  6.5138 6.5123 6.5062 6.5064  0.0046 05:24
 USD/KWD  0.3016  0.3026 0.3018 0.3017 0.3018  -0.0001 05:07
 GBP/USD  1.3757  1.3758 1.3864 1.3756 1.3863  -0.0106 05:24
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  0.0000 00:00
 USD/IDR  14448.0000  14448.0000 14461.0000 14363.0000 14376.0000  84.0000 05:24

Things in the News:





Iraqi Articles:

An Iranian report warns of Iraq's insistence on the decision to amend the dinar exchange rate!

link

An Iranian report warned that the Central Bank of Iraq would proceed with the decision to adjust the exchange rate of the Iraqi dinar against the dollar, while it included a list of tweets transferred from accounts related to the factions, calling for a reduction in the price of the dollar inside Iraq

The report published by the semi-official Iranian channel Al-Alam, which was followed by "People" (March 22, 2021), citing economic experts - whom he did not name - that the decision to amend the exchange rate of the dollar "restructured banks because they do not participate in the currency auction and that the coming period may witness a merger process." For banks with each other. "  

The report used tweets from accounts and "mob" figures who organized a campaign against the decision to amend the Iraqi dinar exchange rate against the US dollar.  

Officials in the Iraqi government say that the decision to adjust the exchange rate has harmed the interests of many parties that were exploiting the auction of selling dollars to inflate their fortunes by using "banking interfaces" accused of facilitating the exit of hard currency outside Iraq.  

The government is also betting that the decision will, in the medium term, contribute to the recovery of agriculture and national industry, and reduce imports from neighboring countries and others


IRAQI DINAR DEVALUATION CONTRIBUTED ENHANCED COUNTRY’S FINANCIAL SUSTAINABILITY: CENTRAL BANK GOVERNOR

link   this from Kurdish news

SULAIMANI — Governor of the Central Bank of Iraq Mustafa Ghalib on Sunday (March 21) argued that the devaluation of the Iraqi dinar this winter enhanced the country’s financial sustainability because the move increased Iraq’s foreign currency reserves and strengthened its public finances.

The devaluation, which was included in the federal government’s draft 2021 budget, was designed to preserve Iraq’s dollar reserves and allow the government to spend more Iraqi dinars. The move however made imports and goods originally priced in other currencies, like hydrocarbons, more expensive.

During a symposium on the impact of COVID-19 on financial institutions organized by the Iraqi Private Banks Association, Ghalib said that, despite the negative consequences for imports, devaluation makes domestically-produced goods more competitive, which he argued was a positive benefit.

He said that dealing with the pandemic and its knock on effects increased the country’s debt by 18 percent last year, which will have to be confronted at some point.

Earlier in the day, State of Law Coalition lawmaker Katti' al-Rikabi said during a televised interview that his party will abstain when the 2021 Federal Budget Law comes up for a vote unless the Iraqi dinar returns to its previous peg against the US dollar.

He said that devaluation has had “negative consequences” for ordinary people, traders, the private sector, and contractors, adding that increasing oil prices will allow Iraq to pay off its debts.


Allawi is conducting an inspection visit to the Rafidain Bank

link

The Ministry of Finance announced, on Tuesday, that the Minister of Finance, Ali Allawi, made an inspection visit at the Rafidain Bank. 

The ministry stated in a statement received by "Al-Eqtisad News", that "Minister of Finance Ali Allawi and Undersecretary of the Ministry Taif Sami conducted an inspection visit to Al-Rafidain Bank (General Administration) on Monday 3/22/2021."

The statement added, "This visit comes to see the bank's workflow, the quality of services provided, and the speedy completion of banking transactions for customers."

Allawi directed, according to the statement, the necessity of "applying the automation system to banking work as soon as possible, similar to sober international banks to provide better services to the Iraqi citizen," calling for "rebuilding its branches to suit the bank's ancient status."

The statement pointed out that "I instructed to grant loans for projects, support businessmen, and reconsider lending mechanisms."

During the visit, Allawi listened to the problems and obstacles facing the bank's employees to develop appropriate solutions for them, according to the statement.

Allawi directed, "to overcome the obstacles that may hinder the implementation of the work with the accuracy and speed required in accordance with the applicable instructions

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 1460

The currency auction For March 23rd, 2021 total sales amount $96,626,000.00 

including   $0. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

3-22-2021   Intel Guru Footforward   ...several you...contacted me over the weekend asking whether or not the RV was happening on sunday. I had said no. The RV will never happen on a Sunday. There are many reasons for this. So just something to keep in mind going forward. Also there is no such thing as an "in country RV". And yes I'm sure on both counts.

3-22-2021   Newshound Guru Jeff   Article:  "Kurdish Parliament: A new round of talks for the Kurdish delegation in Baghdad next week"  For the rate change to even happen, at a minimum, Kurdistan and Baghdad have to reach full an agreements on the budget.

3-22-2021   Intel Guru MarkZ   [via PDK]   Number 2 is the delay was to throw timing off so that people are not expecting anything until the 27th…and they will pull the trigger sooner...  I hope this one is accurate. I hope this date is a “head fake” and we go sooner.  Number 3- I heard that the nefarious US Treasury got in the way. But, I am told this is utter BS from a number of great sources…so I don’t give this one any credence.  We are so close…but, don’t believe me…study history…do some research and you will see just how close the Iraqis are. I really hope this is BOOM week!  [post 3 of 3]

3-22-2021   Intel Guru MarkZ   [via PDK]   Number 1 is from an Interpol source saying they are taking this last “hoo-ra” to clean up some last minute stuff because they were prepared to go with that budget vote…they had positioned money and they caught some very nefarious people trying to move large amounts of physical dinar…This gave them an opportunity for one last clean up…and they fully expect things to go on the 27th…  [post 2 of 3....stay tuned]

3-22-2021   Intel Guru MarkZ   [via PDK]   [Iraq Kicking the can?]  First- they are not trading 1 to 1 in the Iraqi streets…anyone with active military contacts in Iraq can simply reach out and ask them.  Are they preparing?  Absolutely. We had expected the budget to pass this weekend…it did not…they shelved the final vote until Mar 27 at 1 pm their time. There was huge progress made…I am hearing  a couple  different reasons why that vote was delayed until the 27th…  [post 1 of 3....stay tuned]

3-22-2021   Guest Guru Sheila   Article:  "Al-Saffar: Political disputes have delayed approving the budget"  My opinion is the budget is done - everything is done. All these articles are just theater... pushing for time until they get the "good to go".

3-22-2021   Newshound Guru Pimpy   There is a political block...that is refusing to vote.  They're boycotting unless the rate change is in there  [The 2021 budget].  But what they're demanding is it be restored to...1190 for one dollar.  Some people thought that meant they would go back to the old rate.  I would love it if they did that.  Could they still do that?  Yes.  They might.  But there is no indication that they will.  Would they announce it?  No.   When Kuwait did their switch...in the news they told everybody that it wasn't gonna happen for a while, then they turned around they did it the next day or the day after.  Anything is possible but first and foremost we definitely got to make sure...what's going on in Erbil/Baghdad get their things ironed out so we can get this budget passed...now they're postponing the vote for one week...  


Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website)

At the time this report was submitted, there are no articles posted on PM Kadhimi's website.

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ARTICLE 2 (from Government of Iraq twitter account)

The @IraqiGovt oversaw the opening of 273 educational buildings, including schools, kindergartens, and examination centres throughout the country between June and December 2020 to support and develop the education sector in Iraq.

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ARTICLE 3

Kurdish Bloc: Parliament's vote to amend the Federal Court Law is a "big mistake"

3/22/2021 10:45 
[Baghdad-Where]
The Kurdish Parliamentary Bloc confirmed, on Monday, that the vote to amend the Federal Court Law was a "big mistake," warning against repeating the scenario of selecting judges for the Electoral Commission in the court.
The two representatives of the bloc, Yusef Muhammad and Bahar Mahmoud, said in a joint statement, "The vote to amend Law No. 30 of 2005 of the Supreme Federal Court by a simple majority was a great mistake and a clear violation of the constitution, specifically Clause Two of Article 92 of it, which stipulates that the vote on a law The Federal Supreme Court must have a two-thirds majority of the members of the House of Representatives. "
And he added, "From the operative part of this article, we understand that any legislation pertaining to the Federal Supreme Court must be by a two-thirds majority of its members."
The two deputies pointed out that "the mass change demanded more than once that the vote be by a two-thirds majority, but its opinion was not taken, and this is what made it refuse to participate in the voting session."
They expressed their wish that this grave error be corrected, because "what is built on falsehood is false," as they describe them.
And they stressed that "this error will cause many problems in the future, especially when approving the results of the upcoming elections, which will be under suspicion and disagreement by the political blocs."
The two representatives of the Change Bloc believed that "the amendment to the Federal Court law that Parliament voted last week is (the lesser evil) compared to the enactment of a new law for the court that is more problematic."
At the same time, he warned against “the repetition of the scenario of selecting judges who are members of the Board of Commissioners of the Election Commission, which was marred by a lot of defects, problems and ambiguities in the process of selecting members of the Federal Court. And the scientific level, taking into account the representation of components being a constitutional issue and avoiding quotas
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ARTICLE 4

Al-Anbar: We asked the government for 100 billion dinars for two purposes?

2021/3/20 12:11 • 
[Baghdad-Where]
Governor of Anbar, Ali Farhan al-Dulaimi, confirmed, on Friday, that the governorate airport project is still in the design stage, while he identified two options for financing the project.
Al-Dulaimi said, according to the official agency, that "the Anbar airport is so far in preparing the designs, after completing the Carp project, and obtaining the approval of all relevant departments, its location will be determined."
He added that "there are two options for financing the governorate airport project, the first from the state budget, and it is hoped that there will be a certain amount to support the project, and the second option is to work towards investment," noting that "there are many advanced companies to invest in Anbar Airport, but there is an attempt to be Funding the project through the state budget, especially the first phase of it. "
He explained that "Anbar airport is a big project and will be for shipping goods and transporting passengers outside and inside Iraq," noting that "he requested from the government financial allocations ranging from 50 billion to 100 billion Iraqi dinars, in order to start the stages of the infrastructure and other details, including the governorate airport."
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ARTICLE 5

Politician Al-Khalidi: The government has sent an ill-considered budget that bears 70 percent of its problems
20:15 - 22/03/20210
The information / Baghdad

The head of the Bayariq Al-Khair Parliamentary Bloc, MP Muhammad Al-Khalidi, confirmed, on Monday, that the government had sent an ill-considered budget to the House of Representatives.

"The government sent the budget very late to the House of Representatives, and it was supposed to arrive in September of last year, in addition to that, it was not studied and contained many problems," Khalidi said in an interview with "Al-Maouma".

Al-Khalidi added, "70% of the problems in the budget currently bear the burden of the government directly, pointing out that the budget is supposed to be drawn up by experts, stressing that confusing the current scene does not serve the interest of Iraq, and all parliamentary and governmental forces must strive to find solutions to all the outstanding issues in the budget and strive." Mutual concessions within the framework of reaching a budget that serves all spectrums and components and takes into account the interest of a nation that is going through successive and strong crises.

The House of Representatives decided to hold an official session next Saturday to discuss the budget after the failure of its efforts to resolve it two days ago.

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