WOTS WED MAR 24 21
The exchange rates of the dollar suddenly rose today, Wednesday, March 24, 2021, in the main stock exchange and local markets in the capital, Baghdad.
The exchange rate of the dollar today, on the Al-Kifah Central Stock Exchange in Baghdad at 11 am, recorded 144,000 dinars for each $ 100 bill.
The prices of buying and selling currency in exchange offices and local markets in Baghdad decreased, as the selling price reached 144,500 dinars for each $ 100 denomination, while the purchase prices reached 143,500 dinars per 100 dollar bill.
The Central Kifah Stock Exchange had recorded an exchange rate on Tuesday at the official close, reaching 143,800 dinars for each $ 100 bill
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1437.6000 |  1488.3000 | 1457.7000 | 1457.4000 | 1457.4000 | 0.5000 | 00:09 |
| USD/VND | 23080.0000 | 23085.0000 | 23053.7000 | 23050.4600 | 23050.4600 | 4.7500 | 00:09 |
| USD/CNY |  6.5188 | 6.5208 | 6.5249 | 6.5148 | 6.5148 | 0.0034 | 05:09 |
| USD/KWD | 0.3016 | 0.3026 | 0.3020 | 0.3018 | 0.3020 | -0.0002 | 04:46 |
| GBP/USD | 1.3723 | 1.3727 | 1.3756 | 1.3674 | 1.3750 | -0.0027 | 05:10 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14459.0000 | 14459.0000 | 14479.0000 | 14415.0000 | 14460.0000 | 0.0000 | 05:10 |
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Iraqi Government Ignores Parliamentary Calls for Reverting Currency Devaluation
link this is from ArabWorld news
The Iraqi government announced that it is not compelled to heed parliamentary calls for reverting the national currency devaluation adopted by the Central Bank of Iraq three months ago.
Dozens of Iraqi lawmakers have started collecting signatures for a petition to restore the currency to its exchange rate of 1,200 dinars per dollar.
While the government, economists and financial experts have defended increasing the exchange rate to 1,450 dinars per dollar as part of a national reform plan, lawmakers are arguing that the move has weighed heavily on the country’s poor.
Opportunist merchants have taken advantage of the devaluation and skyrocketed the prices of basic commodities.
For that reason, lawmakers are accusing the government of failure in implementing effective policies that protect the economically destitute and regulate prices at markets.
Nevertheless, the Iraqi government is sticking to its decision and maintaining that the central bank, not parliament, has exclusive authority over the national currency’s valuation.
Iraqi Culture Minister Hasan Nazim, in an official statement on Monday, acknowledged that parliament can change the dinar’s valuation, but also said the government will not be bound by the modification.
“It is up to parliament to approve or amend the budget,” said Nazim, adding that the government has fulfilled its part concerning the general financial plan.
“The government can help facilitate matters, offer explanations and engage in negotiations regarding some issues in question,” he noted.
The Iraqi parliament has, on four different occasions, failed to pass the budget for 2021.
At first, dispute with the Kurdistan Region blocked passing the financial plan. Now, dozens of parliamentarians from different political blocs set restoring the dollar exchange rate to 1,200 dinars as a condition for passing the budget.
The White House announces the date of reviewing the strategic dialogue with Iraq early next April
The White House announced the date for the US administration's review of the strategic dialogue with Iraq at the beginning of next April.
This came according to what local media reported, quoting a White House spokeswoman, Jane Saki.
Saki said in press statements that "the goal will be to clarify that the mission of the coalition forces is limited to training Iraqi forces and providing advice to ensure that ISIS does not return."
Iraq had sent an official request to the administration of US President Joe Biden, to set a date for the resumption of strategic talks on bilateral relations and the withdrawal of the remaining forces in the country, according to Iraqi officials on Tuesday.
The talks, which began last June under former President Donald Trump, will be the first under the auspices of Biden, who took office in January.
The discussions aim to determine the future of US-Iraqi relations.
An economist identifies the "only path" to the possibility of changing the dollar’s exchange rate by Parliamen
The economist, Nabil Al-Marsoumi, answered, on Wednesday, questions raised about the possibility of a change in the exchange rate of the dollar by Parliament
Al-Marsoumi said in an explanation followed by Nass (March 24, 2021) that "Parliament can change the exchange rate, provided that it is preceded by the amendment of the Central Bank Law, particularly Paragraph A of Article 4 1 concerning the exclusive authority of the bank in managing monetary policy in Iraq."
He pointed out that if the House of Representatives did so, "the Iraqi parliament becomes the first parliament in the world to manage the monetary policy in the country."
And the Parliamentary Finance Committee announced, on Wednesday, the main reason for not passing the budget, while it indicated that voting on the budget does not mean approval of the exchange rate .
A member of the committee, Majed Al-Waeli, told the official agency, and "People" followed him (March 24, 2021), that "the Finance Committee has completed all the budget items leaving only Article 11 of them." The region has delivered oil and non-oil receivables by the Kurdistan government, so the dispute arose and the budget was not voted on.
He added, "After the session was adjourned, there was no change or meeting on the budget because the internal system requires that when a committee meeting is held, there must be a half-plus-one quorum, and the Kurds have festive celebrations," explaining, "We are waiting for the date of the Saturday session for the committee meeting to reach an agreement." Between the political blocs to push the budget to vote.
He stressed that "there are many demands by some parliamentarians and blocs, but some of them have been included that do not change the essence of the budget, including adding an article to fix old electricity contracts, which are in place and agreed upon, and a slight amendment has also been made to the article that pertains to free lecturers."
Regarding the exchange rate, Al-Waeli continued, “The Finance Committee issued on the 26th of last November a letter to the Council of Ministers regarding dealing with the financial crisis, including an article on changing the exchange rate, and it confirmed that a number of measures were taken before changing the exchange rate, but the government did not take any action that affected the The Iraqi citizen, especially the poor families, "noting that" the exchange rate decision was issued by the government without referring to the House of Representatives and without its approval and reliance on the Central Bank Law that outlines the monetary policy. "
He continued, "All parliamentary claims that demand changing the exchange rate are in defense of the citizen, but it is not the prerogative of the House of Representatives, and perhaps some of them are for electoral reasons because they are aware that it is not within the powers of the Finance Committee," explaining that "voting on the budget does not mean approving the exchange rate
CBI Update: Just a note:
including $0. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
3-23-2021 Newshound/Intel Guru Petra [via Frank26] The G.A.P...this is a report the CBI will hand in to the IMF, BIS and the World Bank...it's a report given to them to explain all that they are doing under a new exchange rate...it [GAP report] is to be turned in by 3-31-21 in order for it to be retroactive back to January the 1st...it is their goal to introduce a 1 to 1 rate...
3-23-2021 Intel Guru MarkZ [via PDK] [I hear Iraq already revalued their currency at 1 to 1…what does this mean?] it means someone has bad information…they have not yet revalued their currency. If you talk to anybody on the street in their country and they will tell you no…not yet…. Everyday I make it a point to contact someone in Iraq…and ask that. Are they prepared and positioned to do so? Yes. Could they be running 2 sets of books for government reasons and for street reasons until the release? Yes…they absolutely could.
3-23-2021 Intel Guru MarkZ [via PDK] We still hear good things out of Iraq…They are still expecting that vote on the 27th. Could it be sooner? Absolutely…it could be a head fake to make us think its Saturday and then drop it early. I have had a few friends who are whales and they were contacted yesterday and are getting into position for exchanges...It would be even more exciting if I could tell you who asked them to move… but I can’t…I am not allowed to share. But it is exciting.
3-23-2021 Intel Guru Frank26 I made it very plain and simple...you're now going to see articles talking about the exchange rate of the Iraqi dinar. There's so many of them. Since we told you that 2 weeks ago you've got about 60 articles...
3-23-2021 Intel Guru Footforward [According to Al-Eqtisad News, the Central Bank of Iraq announced, today, that it has added a feature to protect the new banknotes from bacteria and viruses, including the Corona virus, so they will need to bring in all of their old money to exchange it for the new bills to help get rid of the corona virus in their country...] ...it is a ploy. It's not bad for us. It just means they're trying to get more of their triple zero notes off the streets.
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