Thursday, March 18, 2021

WOTS MAR TUE 16 21

 WOTS MAR TUE 16 21


The exchange rates of the dollar on the local market on Tuesday (March 16, 2021), according to the monitoring of specialists  

Baghdad - Al-Kifah Stock Exchange  

145,700  

....  

Price in exchange (approximate)  

145,000  

146,000  

——————————————  

Basra / Stock Exchange  

145,700  

————————-  

Erbil / Bursa  

145,600  

—————————  

Mosul / Stock Exchange  

145,650 



The Markets:
The Asian markets closed up NIK up by .52% HSI up by .67% SHANG up by .78%
The UK markets are currently trading in the green from .06% to .79% 
Our futures are currently trading mixed  DOW at 32799 down by .16% SNP at 3957.75  down by .01% NDX at 13120 up by .39%

Precious Metals:
Gold is green at 1731 Silver is red  at 26.13 Copper is red at 407 Platinum is red at 1209
Brent 67 WTI  64   Bitcoin: 55,582

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1432.9000  1483.2000 1456.4000 1452.5000 1455.7000  -1.1000 13:33
 USD/VND  23082.0000  23084.0000 23071.3500 23053.9800 23053.9800  19.0500 01:01
 USD/CNY  6.4990  6.5010 6.5022 6.4943 6.4988  0.0002 05:22
 USD/KWD  0.3015  0.3025 0.3018 0.3016 0.3018  -0.0002 05:10
 GBP/USD  1.3834  1.3834 1.3903 1.3809 1.3902  -0.0070 05:22
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  0.0000 00:00
 USD/IDR  14407.0000  14411.0000 14458.0000 14356.0000 14401.0000  11.0000 05:22

Things in the News:


Iraqi Articles:

Today, Tuesday, oil prices are declining due to an increase in US inventories

link

Oil prices witnessed, on Tuesday, a decline, with increasing concerns about the increase in stocks in the United States, and the threat of countries, including Germany and France, to stop vaccinations against the Corona virus.

Brent crude fell 58 cents, or 0.8 percent, to $ 68.30 a barrel, after falling 0.5 percent on Monday.
US crude fell 61 cents, or 0.9 percent, to reach $ 64.78 a barrel, after falling 0.3 percent in the previous session.

Germany, France and Italy are planning to suspend injections of AstraZeneca plc for COVID-19 after reports of potentially dangerous side effects, although the World Health Organization has said there is no confirmed link to the vaccine.

These moves deepen concerns about the slow pace of vaccination in the region, which could delay any economic recovery from the epidemic in one of the hardest-hit areas.
In the US, inventories are also rising due to the "big freeze" last month that halted refining operations that have taken time to return fully.
In the week ending March 5, US crude oil inventories rose by 12.8 million barrels, against analysts' expectations for a rise of less than 1 million barrels.

Representative Finance: political wills that hinder the budget law by linking it to other laws

link

The Sunni and Kurdish blocs agree on the government text on the rights of the region

Yesterday, Monday, the Finance Committee in the House of Representatives confirmed that political wills obstruct the budget by linking it to laws that have nothing to do with it, indicating that the Kurdish and Sunni blocs agree on the government text related to the obligations and rights of the Kurdistan region, pointing out that the Shiite forces are the only ones objecting. The alternative is offered yet.

"The political will that is imposed on the House of Representatives and the citizens is what leads to the repeated postponement of the budget law," Representative Jamal Cougar, a member of the committee, said in an interview with "The New Morning".

Cougar added, "The committee has completed the law and an official letter has been submitted to the Presidency and notified of the possibility of holding a voting session since the middle of last month."

He pointed out, "The Shiite blocs are the only ones objecting to the article related to the Kurdistan region’s oil obligations and the mechanism for obtaining its rights, but so far they have not submitted any alternative proposal to what was mentioned in the government project."

And Couger said, "It is clear from the discussions that the Shiite blocs are divided on several options, and that is the main reason not to replace the government text."

And he went on, "The presidency of the parliament was supposed to give, after receiving the budget, a deadline that does not exceed a week for negotiations and puts the blocs in front of two options, either to keep the government text on the region or to formulate a new article in light of the vision of the Shiite blocs."

Cougar stated, "The Sunni and Kurdish blocs agree on the government text, and the problem we have with the Shiite blocs is that they did not accept this text and at the same time they did not provide an alternative."

Cougar continues, "The strange thing that appeared to us recently is that Shiite blocs do not accept the inclusion of the budget on the agenda without completing the vote on the Federal Supreme Court law, and we do not know what is the link between these two legislation."

And he continues, "The current delay in approving the budget means that its implementation will be at least in the middle of next month, since after the vote there is approval and publication of the Iraqi facts."

Cougar went on to say that "these two currencies take time and therefore we will be in front of a budget for only about six months for the remainder of the year, at a time when Iraq is on the verge of early elections in October and needs money."

For his part, another member of the committee, MP Thamer Theban, said in a statement to "The New Morning", that "the delay that occurs in the legislation of the budget law is caused by the desire to reach a political agreement on the Kurdistan region."

Theban added, "The law cannot be delayed any longer, and therefore we are in the final stages and may approve it at any time, whether by political consensus or by the majority."

He stressed, "The Shiite blocs see in the Kurdistan region that it does not abide by the constitution, and that it must submit to its provisions regarding the distribution of natural wealth, as it is the property of the people."

It is noteworthy that the dispute revolves around Article 11 of the budget, which stipulates that the Kurdistan region shall deliver the proceeds of 250 thousand barrels of exported oil through the Turkish port of Ceyhan in exchange for its financial allocation.

The Central Bank reveals the reason for the decline in dollar prices in the market for the official pricing .. and resolves the controversy over the fate of the pricing

link

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The Central Bank of Iraq announced that its total foreign currency reserves amounted to nearly $ 56 billion, stressing that it would maintain the stability of exchange rates in the markets through the use of its various monetary tools.

An official source at the Central Bank of Iraq said in an interview with the official newspaper, that “foreign reserves are still within the limits of sufficiency,” and that “total foreign reserves decreased by approximately 20% during 2020,” and he also indicated that “gold holdings are approximately $ 5,703 million An American, and there are no plans to increase investment in gold in light of the continuing impact of the crisis. ”He explained that“ the Chinese yuan currency is one of the currencies invested in foreign reserves. ”

The source stated, “The Central Bank of Iraq maintains the stability of exchange rates in the markets by exploiting its various monetary tools, the most important of which is the foreign currency sale window that aims to finance imports of goods and services, in accordance with the provisions of the Iraqi Central Bank Law No. 56 of 2004 in Article 28 / b (simple, unconditional buying and selling of foreign currency), in a manner that maintains acceptable rates of inflation.

The source attributed the reason for the decline in the price of the dollar in the markets, especially last month, from the price specified in the bank, by saying: “The exchange rate of the US dollar in the local markets retreated from the approved official selling price after the price change by the bank at the end of December of the year 2020, due to the fact that the change in the exchange rate initially formed a shock to the local market, which required an adjustment period to work out the settlements that took place between each of the merchants (wholesalers, retailers, singles) and the settlements of wholesalers with banks, as imports decreased to severe levels, and thus a decrease Demand for foreign currency.

The regional government delegation arrives in Baghdad to continue discussions on the budget

link

The Kurdistan Regional Government announced, on Tuesday, that the Kurdish negotiating delegation will arrive today in the capital, Baghdad, to resume discussions about the region’s share in the fiscal budget for 2021.

The spokesman for the regional government, Jotiar Adel, said in a press statement in Erbil, which was attended by correspondent / Mawazine. News / "The regional government delegation will visit Baghdad today, to complete the discussions with the other parties on the budget."
Adel added, "We hope to reach an agreement and to ratify the draft budget law."

Baghdad and Erbil reached an agreement on the financial budget last December, stipulating that the region hand over 250 thousand barrels of oil per day, and half of the revenues from border crossings and others to the federal government, in exchange for a share in the budget of 12.6%.


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 16th, 2021 total sales amount $ 48,067,000. 

including   $0. CASH 

ISX Update:   

www.isx-iq.net/

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

3-16-2021   Intel Guru Footforward   For those who have eyes to see and ears to hear, you know what the rate is already.  For newer people, my opinion, that is not financial or investment advice, my opinion is the rate will be at least 3.50 and more likely 5.00.
3-15-2021   Newshound Guru Pimpy  There is a lot of talk still about the exchange rate.  Will they come out and make some RI/RV announcement?  It's possible but not likely.  I think if anything we're going to see it go back up to 1190 dinar for now but only for a short period of time.  I think we're going to start seeing...a 'dirty float' which is a managed float - just little by little they'll change the increments over time...

3-15-2021   Intel Guru MarkZ   [via PDK]   A lot of folks are worried about Iraq possible coming out at a 1 to 1 rate…I am told that with our contract rate that it will not affect us or our values…but there is a high probability that they will come out at 1 to 1…don’t let that put you into a panic. For those that think that can hang on to their currency and trade it in at a later date hoping for a higher rate…we will only have about 30 days in which we can exchange our larger notes…don’t wait to long or you could be stuck with wallpaper.

3-15-2021   Newshound Guru Jeff   I told you to add 90 days to a Sunday after December 20th when they devalued it [the dinar].  It takes you to Sunday March 21st.  As we're approaching March 21st you can clearly see all Iraq's news is right on par - how they're completing the budget, adjusting the exchange rate and everything's right at the cusp of happening exactly at the 21st.  I mean it's a no brainer...

3-15-2021   Intel Guru MarkZ   [via PDK]    ...There was a lot of great articles coming out of Iraq this weekend…They fully expect their new value in the 2021 budget which starts April 1st…which means they got to get busy...solid movement in the HCL agreements with Kurdistan and Iraq…this should pass…I am told…by Wednesday…

3-15-2021   Newshound Guru Jeff   What should you do with the one dollar sucker rate?  ...most people will have some quick bills they have to pay so a simple recommendation maybe just go exchange...just enough money to keep your head above water...and then once the rate goes up to a higher mark after the 90 days then you can go cash out the bulk of it.  But even after 90 days the rate can still go higher than that so I don't recommend rushing this thing.  You have to remain patient with it.   [Post 2 of 2]    [Note: Consult your professional financial advisors at the appropriate time to build the right strategy for you and your family's specific circumstances.]

3-15-2021   Newshound Guru Jeff   No one knows what the rates going to be...I feel the true final rate will be around $3.80.  that's my opinion.  I want to put out a possibility...Iraq devalued their currency to get 3 zero notes out of circulation in Iraq.  They could do something similar to that for you and I.  They could release a sucker rate of 1 to 1...They did it for 90 days in Iraq with the devaluation - I think they'll do this 1 to 1 sucker rate again for 90 days.  You're gonna want to pay attention...after that 90 days that's when they would hike it...around Sunday June 20th.  [Post 1 of 2....stay tuned]

3-15-2021   Intel Guru Footforward    [Any news about the meeting about dinars value?]   I honestly wouldn't pay a lot of attention to those meetings. I don't think they're going to be very telling. Iraq at least publicly has been going around in circles for months now... What I will say for sure is there's tons of misinformation coming out of Iraq on purpose right now.  This has been the case for about the last 6 months especially.



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

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

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ARTICLE 2 (from Government of Iraq twitter account)

Iraq lifts requirement to obtain pre-arrival visas for citizens of 30 countries

 15 Mar 2021 - 8:26 pm

The Iraqi government will launch on 15 March 2021 an exceptional programme to lift the requirement to obtain entry visas prior to arrival in Iraq for citizens of:

  • Countries that are permanent members of the UN Security Council (USA, UK, France, the Russian Federation and the People’s Republic of China)
  • European Union countries: Austria, Belgium, Bulgaria, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands

As well as citizens of Japan, South Korea, Canada, Australia, New Zealand and Switzerland.

Citizens of these countries will be able to pay to obtain a visa on arrival at Iraq’s airports and land and sea border crossings, but must comply with all Iraqi preventive health measures as decided by the Higher Committee for Health and National Safety.

Other countries may be added to the list based on Iraq’s economic and other needs.

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ARTICLE 3

Prime Minister Mustafa Al-Kazemi: Diplomacy and dialogue are the real power to protect people and keep away from wars
3/15/2021 15:41 •
[Baghdad-Where]
Prime Minister Mustafa Al-Kazemi stressed, on Monday, that diplomacy and dialogue are the real strength to protect people and stay away from wars, stressing the departure of the militarization of society and armed manifestations
Al-Kazemi said during a speech at the headquarters of the Ministry of Foreign Affairs: "I thank the brothers in the Foreign Ministry who were unidentified soldiers who played an important role in the success of the visit of His Holiness to Iraq."
He added, "It was agreed that soft power must take its course. The weapons that Iraq possessed did not lead it to anything but destruction, futile wars and hostilities."
"Diplomacy and dialogue are the real strength to protect people and keep away from wars, and it is our only opportunity to get out of the cycle of conflicts, and the alternative to it is nothing but the madness of wars and the devastation that this country has suffered from for decades," he added.
The Prime Minister stressed that "effective diplomacy requires a great effort on various parties, and this is the role of our embassies, diplomats and international organizations, and the activation of various tools and means of dialogue that guarantee the country's interests and direct it towards permanent solutions."
He pointed out that "in our society, unfortunately, we see continuous phenomena from the buried Baath era until after 2003, the phenomenon of militarization of society and armed phenomena. This we must leave it, and the alternative must be diplomacy, economics and development. Wars have an easy start, and peace-making is more difficult, so it must be." We leave this stage and diplomacy is the solution to dealing with problems. "
He pointed out that "the Iraqi situation in the face of complex and complex crises of political, economic, social and cultural dimensions, and we must make the most of our international relations and international support to help overcome them and mitigate many of the effects of the circumstances that Iraq has gone through."
Al-Kazemi expressed "the importance of creating a unified national discourse, from which we would embark on a broader dialogue at the regional level to secure the interests of our people and regional peace and stability."
He explained that "the Iraqi government succeeded in developing active diplomacy during the period of this government, as we activated the strategic dialogue with the United States, and we moved towards focusing on economic, diplomatic and cultural cooperation, and we also succeeded in reducing the number of foreign forces by sixty percent," noting that "Iraqi diplomacy helped Iraq." Also to get out of the economic crisis, as the Economic Communication Group was formed at our invitation, which stood by Iraq in its economic crisis and is still providing support for us in the path of economic reform and the implementation of the White Paper. Stressing, "the country's openness towards all regional and international powers, which created a positive impression about Iraq, its political stability, and the great historical opportunities for it."
Regarding the Pope’s visit, Al-Kazemi said that it “came within these efforts, to provide great moral support to Iraq, and a message to all that Iraq is an environment for the convergence of religions and civilizations, and that it transcends the ordeal of war and the destruction caused by ISIS, and that the Iraqi people are a peace-loving people and proud of their religious, social and political diversity.” .
He stressed the existence of "several memoranda of understanding and agreements that we worked on during this period with all our Arab, Iranian and Turkish neighbors, despite all the differences that exist between these powers."
He pointed out that "the government has put forward the idea of the new east, and we are working to implement it by creating broad common interests between Iraq, Jordan and Egypt, that would create a prosperous economic zone from which all powers in the region benefit from and in which Iraq plays a major role," noting " The presence of diversified relations with the Kingdom of Saudi Arabia and all other Gulf countries, and the progress of several investments in various agricultural, industrial and energy sectors.
On the economic front, the Prime Minister affirmed that "the railway linkage agreement between Iraq and Iran will be completed, which will link Iraq with northern China and create wide economic opportunities for it."
Al-Kazemi called on political and societal forces to read models of success among other peoples, to see how Rwanda transformed from one of the worst experiences of ethnic cleansing to a prosperous country in the continent of Africa, and how South Africa succeeded in crossing from one of the worst experiences of racism to a successful country by applying a correct approach to transitional justice. As well as Singapore, the Balkan Peninsula, and other major conflict areas in the world. " Stressing that "there are great potentials for building peace and creating new opportunities for all peoples of the region, and Iraq must take an active role in this path, and you in the Iraqi diplomatic apparatus are the soldiers of this comprehensive and lasting peace for us and for all the peoples of the region."
He concluded his speech by saying, "You are at the various levels of your work, whether at the ministry’s headquarters in Baghdad or in our embassies abroad. You are all ambassadors and ambassadors, each one and one of you is a mobile Iraq, and this is a major responsibility, and I see that you are up to the responsibility."
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ARTICLE 4

A quarrel between Youssef Al-Kalabi and a number of Kurds over the budget
March 15-2021 08:15 PM 

Today, Monday, a parliamentary source revealed a quarrel between Representative Yusef Al-Kalabi and a number of Kurdish representatives regarding the budget.

The source told "Tigris", "A quarrel broke out between the representative of the Al-Fateh Alliance, Yusef Al-Kalabi, and a number of Kurdish representatives regarding the draft federal budget bill for 2021."

"The quarrel has shifted from the majlis hall to the cafeteria," he added.

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ARTICLE 5

Parliamentary Finance sets the new date for voting on the budget
03-15-2021 08:07 PM

Today, Monday, the Parliamentary Finance Committee set the new date for voting on the federal budget bill for 2021.

Committee member Siham Shenoun said in a statement to "Tigris", that "tomorrow's session, Tuesday, will be devoted to voting on the draft federal budget law for 2021," noting that "political differences should not be an obstacle to their passage in Parliament."

She added that "the political blocs and the Kurdish forces have not yet agreed, and the budget will be presented to a vote in these circumstances," indicating that "the financial committee completed a month ago the discussion and amendment of the budget items."

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