Friday, March 26, 2021

WOTS THU MAR 25 21

WOTS THU MAR 25 21

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The exchange rate of the dollar in the local markets


The exchange rates of the dollar witnessed, on Thursday, a noticeable increase in the main stock exchange and local markets in the capital, Baghdad.
The exchange rate of the dollar on the Al-Kifah Central Stock Exchange in Baghdad was 144,500 dinars, for each $ 100 denomination paper.
The prices of selling and buying dollars in exchange offices and local markets in the capital, Baghdad, increased, as the selling price reached 145,000 thousand dinars for each $ 100 bill, while the purchase prices reached 144,000 thousand dinars, for each $ 100 bill.
The Central Kifah Stock Exchange had recorded, on Wednesday, 144300 dinars for each $ 100 bill.


The Markets:
The Asian markets closed mixed NIK up by 1.14% HSI down by .07% SHANG down by .10%
The UK markets are currently trading in the red mostly from .13% to .26% the SMI is currently up by .17%
Our futures are currently trading in teh green DOW at 32399 up  by .25% SNP at 3890 up  by .24% NDX at 127840.75 up  by .37%

Precious Metals:
Gold is red at 1731 Silver is red  at 24.94 Copper is red at 398 Platinum is red at 1171 
Brent 63 WTI  60   Bitcoin: 52,858

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1436.1000  1486.9000 1458.0000 1457.2000 1457.4000  0.8000 07:07
 USD/VND  23084.0000  23086.0000 23072.9300 23065.5500 23065.5500  8.4900 00:39
 USD/CNY  6.5376  6.5396 6.5387 6.5206 6.5229  0.0144 04:56
 USD/KWD  0.3016  0.3026 0.3019 0.3017 0.3019  -0.0001 04:35
 GBP/USD  1.3701  1.3702 1.3707 1.3670 1.3684  0.0017 04:56
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  0.0000 00:00
 USD/IDR  14441.0000  14445.0000 14483.0000 14432.0000 14470.0000  -28.0000 04:55

Things in the News:

Iraqi Articles:

Advisor Al-Kazemi: The contradictions over the dollar price will create turmoil in the market

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Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, expected, on Thursday, that the rise in food prices will stabilize during the future, considering that the contradictions between the political blocs on the issue of changing the exchange rate of the dollar will affect the movement of supply and demand, which creates turmoil in the movement market.

Saleh said in an interview seen by / the information /, that "the contradictions between the political blocs on the issue of changing the exchange rate of the dollar will affect the movement of supply and demand, which creates a disturbance in the movement of the market, especially since these expectations are not settled until now."

Saleh added, "The rise in prices is one-off and does not continue into the future, and I think that this (color information) is based on false expectations."
He pointed out that “the ways of importing continue without stopping, so expectations regarding the general level of prices will stop at a stable point, and the means of commodity supply are now wide open, whether in terms of financing or in fixed foreign currency in their rates to finance foreign trade in various forms, so I think that the rise Prices will stabilize in the future, and will not remain as such »

The exclusion of passing the budget by a majority in the session next Saturday

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A member of the House of Representatives, Representative Melhan Al-Makoutar, ruled out that the 2021 budget will be passed during the next Saturday session by a majority, indicating that the budget problems are large, especially with the Kurds, and need to be in depth in their solution.

Al-Makoutar said in an interview with Al-Sabah newspaper, which was followed by Al-Iktissad News, that “the Kurdish delegation that came to Baghdad was at a high level and did not reach a conclusion regarding the region’s share in the budget,” stressing that “approving the budget is necessary and everyone is waiting for its approval, especially the citizens. Despite her contract ».

He added, "The Kurds have many requests in the budget, and there are disagreements about increasing the region's oil production," noting that "the differences are strong and there will be complications in the scene unless there are quick solutions." Saying: "The decision is with the Presidency of Parliament, which has more direct ties to the heads of the blocs than the deputies, and it negotiates with them in this regard, so if there is no agreement, the budget will not go by the majority, and yet it is not easy to predict what will happen in this regard."

In addition, the head of the Economic and Investment Committee in the House of Representatives, Ahmed Salim Al-Kinani, said, "The committee sent notes to the Finance Committee regarding the 2021 budget to stop loans and sovereign guarantees because they burden the state from an economic point of view."

He added, "The committee focused on mainly supporting the private sector, in cooperation with the Ministry of Planning to set up a specific mechanism to settle more than 300 investment projects that are lagging by terminating or completing their contracts by other investors or a settlement between the government and investors," noting that "there are thousands of these." The projects have not been resolved yet, but they are followed up by the subcommittee in the Ministry of Planning

Canada allocates $ 460 million for the reconstruction of Mosul

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The Canadian Ambassador to Iraq, Rick Shannon, revealed that $ 460 million has been allocated for the reconstruction and rehabilitation of the city of Mosul. 

"Canada has allocated $ 460 million to rebuild and rehabilitate what ISIS terrorist gangs destroyed in the city of Mosul when they took control of the city on the tenth of June 2014," Shannon said in a press conference held in the city of Mosul.

"The Canadian government will participate in the reconstruction of the city of Mosul, because of the great importance of this historical and cultural city," he added.

He pointed out that "Canada has signed contracts for more than one investment project in the city of Mosul in order to revive the investment movement and rebuild tourist and health buildings and others."

Shannon added, "The delegation accompanying him visited the University of Mosul and provided Canadian government support for the reconstruction of more than one site within the university, such as the Central Library, the Great University Theater and the Student Center."

He pointed out that "there is special support for the Fine Arts Museum of the Student Activities Department, with cultural exchange between Canadian universities and the University of Mosul

MR. AL-SADR COMMENTS ON THE REVIEW OF “RUBU ALLAH” DEMANDS FOR CHANGING THE EXCHANGE RATE

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One translation of this tweet

In the name of the Almighty, one of the militias resorted to the armed military parade and the massive deployment in the beloved capital Baghdad for demands such as the exchange of the dollar. 

Rejected The government must prevent it from happening again. 

Second: If this party that performed the parade belongs to the Mujahid crowd, the crowd must punish it, otherwise it is declared innocent. 
Third: The decision to raise the dollar exchange has benefits and harms, and that is why we left its decision in the hands of specialists who are knowledgeable about economic matters, but the people should not be much harmed, especially with the presence of greed and high prices in the markets.  It will gain the people's sympathy for it .. No, violence is outside of the people's sympathy, so stop you from violence and harm ... and beware of breaking the prestige of the state, especially if your review was not in coordination with it.  Muqtada Al-Sadr: 25/3/2021 3:19 AM 3/25/2021



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 25th , 2021 total sales amount $ 78,418,000 . 

including   $0. CASH 

ISX Update:   

www.isx-iq.net/

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

3-25-2021   Newshound/Intel Guru Mnt Goat   Many of the MPs say they will now boycott the voting process and not vote on approving the 2021 budget except in the case of returning the previous dollar exchange rate to 1200. So as time passes and oil rises, they are making this a contentious issue. So again, I am telling you that because oil is rising and the CBI is still keeping the rate at about 1450 tells us there is much more to the devaluation of the dinar that meets the eye. It is now obvious that it is not all just about balancing the budget and paying off debt...It was also about collecting the larger notes out of circulation in preparation for the deleting the zeros project. This project will mean a revaluation of the dinar to significant levels that we as investors want.
3-24-2021   Intel Guru MarkZ   [via PDK]   [Do you think we will go earlier then Saturday and the Iraq budget announcement?]  Very possible…we have some very key people being moved into place for tomorrow…I spoke to 4 contacts at the Dept of defense…and they are trying to aggregate “oil for dinar” for dinar.  So it is getting fun guys.

3-24-2021   Newshound Guru Breitling  Where does my math come from?  My math comes from calculating on their debt plus 4% GDP growth.  In other words they get rid of their debt and they have enough money to get their economy running and encourage a 4% in GDP growth.  That's where I get around a 56 cents range...Iraq says 1 to 1.  I say it's going to be a slow growth from around .56 cents on up.  That's just my opinion.  That's just based on the math...It's not going to do them any good coming in at .10 cents and if they do it won't be for very long.  They need to go higher...

3-24-2021   Newshound Guru Pimpy  I know you guys hearing all kinds of rumors out there that in country they're already exchanging at 1 to 1.  That's not true.  There's no evidence of that whatsoever...

3-24-2021   Intel Guru Bruce   [via WiserNow]   What is very interesting is the redemption center staff are going in very early in the morning on Thursday  morning at 7:15 – is that early enough for you?  To be ready to go to do business at their desks at 7:30 am...So that tells me that we should get...the optimum word – “should”...should be receiving our notifications tomorrow [Wednesday] and setting our appointments for Thursday – and beyond... the good news is  that we believe based on  4 separate verifications  of timing...4 separate banking institutions that the window that has been put out there for us we are right in the middle of right now...we could get notified with these emails at any time...Without going into it - the fact is there is...an agreement in this that we haven’t had quite at this level in this acute time period as we have right now... 

3-24-2021   Intel Guru Frank26   Article:   "The Central Bank adds a new feature to the Iraqi banknotes"  Quote:  "the Central Bank of Iraq announced on Monday, that it has added a feature to protect banknotes from bacteria and viruses to the national currency"  If you go to the CBI website you will be able to see when they last printed currency.  It was in 2018.  It's the 250's the 500's that they are going to be including with the new small category notes...the coronavirus came out in 2020 but...they haven't printed any new currency since 2018...something doesn't sound right...this is a marketing ploy...bring me your infected 3-zero notes...says the CBI...We want to protect you...I will give you brand new small category notes with a new value to it against the American dollar...We believe this is a propaganda ploy to bring in as many zeros as possible.  I'm impressed with this tactic...
 
3-24-2021   Intel Guru MarkZ   [via PDK]   The Iraqi budget vote is still slated for Saturday at 1 pm Iraq time…which we are told should give us our new value.  On April first most of their government has agreed to a 40-60% decrease in pay of the number of dinar they will get…So it will have to have a higher value to justify this…it doesn’t make sense…it doesn’t jive…they have to many responsibilities that will require that higher value...i don’t believe they can kick that can any further.   We will see.

3-24-2021   Newshound Guru Jeff  This weekend nor the month of April Iraq isn't going to do anything with the budget.  They can't.  Iraq's not going to do anything with the exchange rate because it's the Central Bank that calls the shots.  They're the ones that are in charge of the monetary system.  They're autonomous from the government.  They're not going to adjust the rate at this time.  The rate is going to remain where it's going to stay because the central bank is using it as a tool to remove 3 zero notes out of circulation up until the point the rate changes.

3-24-2021   Newshound/Intel Guru Mnt Goat   What are the CBI plans? As I promised I would I contact my source in the Central Bank of Iraq (CBI) this past weekend. Today I wanted to come on and tell you want I learned. Remember we needed to validate all the intel rumors that Iraq has already gone to 1:1, IQD: USD. The result of my long conversation with the CBI is that “NO” it had not revalued to this extent, but there is a plan underway to do it by the end of the year (2021)...



Catnip's Corner:
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ARTICLE 1 (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kazemi receives Qatar's Deputy Prime Minister and Minister of Foreign Affairs

The Prime Minister, Mr. Mustafa Al-Kazemi, received today, Wednesday, Qatar's Deputy Prime Minister and Minister of Foreign Affairs Sheikh Muhammad bin Abdul Rahman Al-Thani and his accompanying delegation.

Sheikh Al-Thani conveyed to the Prime Minister the greetings of the State of Qatar, the government and people, and Qatar's readiness to support Iraq in various fields, and the leadership in the State of Qatar is looking forward to receiving Mr. Al-Kazemi in Doha as soon as possible.

During the meeting, they discussed the development of bilateral relations between the two countries, and discussed regional issues of common interest and efforts to calm down in the region.

They also discussed ways to strengthen and develop joint cooperation between Baghdad and Doha, at all levels, especially economic, security, political, and in the field of investment.

Media Office of the Prime Minister
March 24, 2021

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ARTICLE 2 (from Government of Iraq twitter account)


Iraq’s Minister of Interior, @AlghanmiOthman says that community policing plays a vital role especially during the Covid-19 health emergency and the associated lockdowns and curfews:

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ARTICLE 3

Financial Committee: There is no parliamentary request to reduce the exchange rate, and Article 11 stalled negotiations
3/24/2021 20:45 
[Baghdad-Where]

The Parliamentary Finance Committee confirmed, on Wednesday, that Article 11 of the Kurdistan region is still delaying the finalization of the General Budget Law for 2021, while indicating that there is no representative request of the Central Bank to reduce the exchange rate.

Committee member Muhammad al-Shabaki said, according to the official agency, that "Article 11 related to the oil agreement, the region’s dues and settling accounts from 2004 to 2020 is still the obstacle that the negotiations between the parties to resolve the Maronite law have stalled because of it."

He added, "The political blocs intervened to give a week for deliberation between leaders in the region to come out with a clear position on Article 11 and the region’s commitment to pay dues to the federal government and the latter’s commitment to the region’s dues."

He pointed out that "reducing the exchange rate is the prerogative and policy of the Central Bank, and there is an agreement with the Ministry of Finance on the subject, and the House of Representatives and the Finance Committee do not enter into this."

He pointed out that "there is no request to the House of Representatives and to address the Central Bank to reduce the exchange rate, but there are several parliamentary claims to reduce it."

Earlier, Parliament Speaker Muhammad al-Halbousi announced the postponement of the budget vote until next Saturday.

The Media Department of the House of Representatives stated that "in view of the continuing discussions on the draft budget law, and to give the competent committees an opportunity for further review and scrutiny, it was decided to postpone the vote on the draft budget law until Saturday, March 27, 2021, at one o'clock in the afternoon. "

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ARTICLE 4

The electricity file..a tightening of the parliamentary economy to hold accountable those involved in corruption

3/24/2021 21:00 • 
[Baghdad-Where]
The head of the Parliamentary Economic and Investment Committee, Ahmed Salim Al-Kinani, announced today, Wednesday, that the parliamentary investigation committee on financial waste and corruption in the electricity sector in Iraq is continuing its investigations and has identified some negligent persons, stressing the importance of punishing everyone who is proven to be negligent or corrupt according to the investigations in the electricity file .
Al-Kinani said in a statement today that, “In accordance with the Parliamentary Order No. 62 concerning the investigation of the Ministry of Electricity file, headed by the First Deputy Speaker, Chairman of the Integrity Commission, Head of the Financial Supervision Bureau, Director General of Investigations and Chairman of the Parliamentary Economy and Investment Committee, the committee hosted the Minister of Electricity and the advanced cadre in the Ministry. In order to complete the commission's report. "

He added that "the parliamentary committee seeks to investigate suspicions of corruption and waste of public money in the electricity sector," stressing that "the formation of the committee came as a result of the deterioration of electric energy in the country in general, especially since we are on the gates of the summer season and there is still a continuous deterioration and accumulated failures in it, as well as the existence of Suspicions of administrative and financial corruption in this sector. "

Kanani pointed out that " During the meeting, the committee stressed the need to hold accountable and punish all those whose investigations proved negligent or caused the waste of public money.
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ARTICLE 5

The return of soul to Shanashil and the historic buildings of Mosul

3/24/2021 20:18 •
[Baghdad-Where]
Iraq is currently implementing a project to restore what remains of Shanashel (Mashrabiyat) with its distinctive traditional designs, which are among the architectural features of the rich Islamic culture, especially in Mosul homes, with the help of the United States Agency for International Development and local non-governmental organizations.
Rehabilitation of the buildings in Mosul.
The Iraqi term "Shanashel" refers to large wooden façades that connect to the balconies of the buildings, and are often carved with traditional Islamic inscriptions.
Khaled Ghanem, director of the Mosul Building Rehabilitation Project, says, "Mosul houses are famous for their abundance of hooks, and their lifespan ranges between 250 and 50 years, and they are often inside the old areas, but the wars that rained down on them took a large part of the destruction of these heritage homes."
And when the "ISIS" organization seized large areas of Iraq in 2014 and imposed its own rule, many cities, towns and villages, including Mosul, were turned into rubble.
After the liberation of Mosul in 2017, the demolition of many traditional buildings and their historic shackles was discovered.
The return of the soul
Artist-grade workers are now restoring the spirit to these buildings and shanas as part of a project to restore or rehabilitate the buildings in Mosul.
Ghanem added, "We tried to preserve the old design, without any additions, but with the artist's fingerprint. The workers are plastic artists who have a reputation in this field."
So far, the project has carried out restoration work on ten terraces connected to shanashel, and it aims to restore more of them in the future.
Falah Hassan, a resident of Mosul, expressed his happiness with the restoration project, saying to "Reuters", "We were happy with this work, because it is a touch to Mosul, especially the old area. This is from Iraqi civilization and history."
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