Sunday, April 11, 2021

WOTS FRI APR 9 21

 WOTS FRI APR 9 21


Central Bank Governor and British Ambassador discuss a "significant" rise in reserves

The exchange rates of the dollar, foreign currencies, gold and oil in the markets and provinces and the Iraqi Stock Exchange for Friday 09-04-2021.

The price of the dollar in Iraq today 4/9/2021

The price of the dollar in Baghdad Stock Exchange struggle

147,100

Price in exchange (approximate)
146,500147,500

Dollar prices in the Iraqi provinces today, Friday, April 9, 2021

Basra / Bursa
147,200——————————Erbil / Bursa147,200———————————Mosul / Bursa147,250——————————Sulaymaniyah / Bursa147,200

Bursa / Al-Harithiya

147,150 dinars

Dohuk / Bursa

147.175


The Markets:
The Asian markets closed mixed NIK up by .20% HSI down by 1.07% SHANG down by .92%
The UK markets are currently trading mixed FTSE down by .14% CAC-40 up by .30% and the DAX up by .11%
Our futures are currently trading mixed  DOW at 33462 up by .22% SNP at 4092.75 up by .09% NDX at 13726.50 down by .15%

Precious Metals:
Gold is red at 1743 Silver is red  at 25.14 Copper is red at 406 Platinum not available
Brent 63 WTI  59   Bitcoin: 58,466



Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1426.8000  1477.2000 1457.1000 1457.1000 1457.1000  0.0000 06:03
 USD/VND  23065.0000  23068.0000 23063.2800 23061.5100 23061.5100  1.6400 22:40
 USD/CNY  6.5566  6.5586 6.5603 6.5459 6.5501  0.0065 04:50
 USD/KWD  0.3013  0.3023 0.3015 0.3014 0.3015  -0.0001 04:39
 GBP/USD  1.3702  1.3705 1.3750 1.3670 1.3732  -0.0029 04:57
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  0.0000 00:00
 USD/IDR  14594.0000  14595.0000 14626.0000 14548.0000 14599.0000  -3.0000 04:57


Things in the News:
Iraqi Articles:

Oil prices are declining despite the increase in global demand for fuel

link

Oil prices fell, on Friday, as investors focused on increasing supplies from major producers and the impact of the Covid-19 pandemic on fuel demand.

June Brent crude futures were down 12 cents, or 0.2%, to $ 63.08 a barrel by 0731 GMT, while US West Texas Intermediate crude for May was at $ 59.59 a barrel, down 1 cent.

Both decades are on track to achieve a 2% -3% decline this week after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC + that includes Russia, agreed to gradually increase supplies by 2 million barrels. Today between May and July.

Analysts expect global oil inventories to continue to decline, with the acceleration of fuel demand in the second half of this year as the global economy recovers

The International Development Bank opens a branch in Kirkuk governorate

link

The International Development Bank opened the bank’s branch in Kirkuk Governorate to provide the best modern banking and electronic services to the people of the province, in a successful positive step towards promoting development and moving the economy wheel in the province.
The opening ceremony was attended by the Deputy Governor of Kirkuk, Assistant Director General of the Central Bank of Iraq, the Mosul Branch, representatives of the House of Representatives, and a group of business leaders and investors, in the presence of the staff of the General Administration of the International Development Bank.

The bank said in a statement received by "Al-Iqtisad News" that, under the auspices of the Chairman of the Board of Directors of the International Development Bank, Dr. Ziyad Khalaf Abd, the bank opened its branch in the province of Kirkuk, which is located on Baghdad Road opposite the Rafidain Bank, the Black Gold Branch, to provide the best modern banking and electronic services to the people of the province. In a positive and successful step towards promoting development and moving the wheel of the economy in the province.
He added that the bank aims to provide support to the banking, investment and commercial sector, financing large, medium and small projects, spreading and enhancing banking culture, completing the processes of localizing salaries of the public and private sectors, and applying the instructions and directives of the Central Bank of Iraq first hand.

He pointed out that all attendees praised the work of the International Development Bank throughout Iraq and its sophisticated and sober plans for the progress of banking work and achieving the best desired results and contributing to growth and prosperity after the bank had achieved great successes and strategic partnerships with major international companies and international and regional institutions and its application of all international standards to work, and its use of the most recent Systems of banking technology, digital transformation and advanced electronic services, and keeping pace with the latest global banking practices and solutions.


Central Bank Governor and British Ambassador discuss a "significant" rise in reserves

link

Central Bank Governor and British Ambassador discuss a "significant" rise in reserves

Central Bank Governor Mustafa Ghaleb Makhif and British Ambassador Stephen Hickey discussed the noticeable increase in the bank’s reserves

The bank said in a statement, "The Governor of the Central Bank of Iraq Mustafa Ghaleb Frightening UK ambassador received in Iraq Stephen Hickey Today, Thursday, the meeting dealt with several matters, including the noticeable increase in the foreign reserves of the Central Bank of Iraq

The statement added, "The ambassador emphasized that the significant increase in the bank's foreign reserves supports the economic situation in Iraq." Iraq And puts it in a good and stable stage. "

The governor and the ambassador visited the new building of the Central Bank, which was designed by the late architecture," the statement noted Zaha HadidThey were briefed on the stages of development,
as the ambassador indicated that the new central bank statement would be a qualitative addition to the capital Baghdad"



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 April  , 2021 total sales amount $ 

including   $0. CASH 

ISX Update:   

www.isx-iq.net/

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

4-9-2021   Intel/Newshound Guru sandyf   When the budget is ratified it will be published by the MOJ and will appear on their ...The only official English version of a budget I have ever seen is from the Iraq Law Library and that usually takes some time. The budget will be applied retrospectively to the 1st Jan, start of the financial year. The budget is a summary of income and expenditure and their is no exchange rate involved, the only exchange rate is the conversion of the budget from IQD to USD for interested parties such as the IMF.
4-8-2021   Intel Guru MarkZ   [via PDK]   [Is there a certain day that’s best for banks to show the RV?]  I used to think so …in the beginning banks had “windows” of the best days to rv…but now with the QFS I believe it could be any day.  It does not matter anymore imo.

4-8-2021   Newshound Guru Kaperoni   The president of the Republic of Iraq has signed off on the 2021 budget. They will begin implementing it tomorrow (Thursday)...

4-8-2021   Newshound Guru MilitiaMan    I'm just glad to see that the central bank has been in the process of improving the exchange process. It looks good, really good...

4-8-2021   Intel Guru Frank26   Never in the history of Iraq have we ever seen a budget approved signed sealed and delivered and implemented.  Never.  The dictatorships of Iraq have always stolen the money.  Not only from the government but from the CBI auctions...what does the budget have to do with the monetary reform A lot.  The exchange rate is it.  The HCL is in there...

4-8-2021   Intel Guru MarkZ   [via PDK]   There is tremendous expectations for Saturday…we have seen more and more articles from Iraq talking about that budget …it is signed and done…and it posting in the Gazette on Saturday. So anytime between now and then we suspect is fairgame. I am feeling very good about things.

4-8-2021   Newshound Guru Pimpy  Article:  "The president of the Republic approves the 2021 budget and returns it to the government to implement it, starting tomorrow"   Yay finally it's been ratified.  No rate change was in there unfortunately.  We'd love to see one...congrats the budget is done...this is great. This is what we want to see...these are big steps in the right direction...

4-8-2021   Intel/Newshound Guru Holly   RV News:  Since the weekend there are a lot of black outs on intel still. I am hearing some appointments are being made for later this week. The dam is ready to burst open. Iraq should have their new rate. That is what we are waiting on now. Once that is out the genie can not be put back on the bottle. We are on the cusp of this to go.

4-8-2021   Intel Guru Frank26  Allawi Video quote: "We started with reforms, we started the process of automation, reform processes related to the currency and the exchange rate, and these are all measures aimed at straightening the Iraqi economy."  ...amen, glory hallelujah, praise God! ...this is it right here. 

4-8-2021   Intel Guru MarkZ   [via PDK]    [What are you hearing are the dinar rates?]  On the street rate I hear it will be about $3.91 for tier 5…  the contract rate for tier 4b of around $8.00…I hope this is accurate. [Do you believe Tier 5- the general public will go at the same time as the rest of us?]  Yes I absolutely believe that.  The tier 5 rate is if you go to a bank and exchange for the street rate which will be a lower rate than if you exchange at the 4b rate at a redemption center. Some people will do that. The only difference between tier 5 and tier 4b is tier 4b knows there is a contract rate…they are keeping up with it…they are informed. Tier 5 may have been gifted…not really paying attention and will just go to a bank to exchange it when they think about it sometime or someone tells them it rv’d.


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)

Investment contracts for drilling new wells

 08 Apr 2021 - 12:38 pm

The Iraqi Drilling Company has announced its intention to conclude contracts with Chinese and American companies operating in Iraq to drill and rehabilitate dozens of oil wells in the country.

The company indicated it is about to start drilling 20 wells in the Nasiriyah field in Dhi Qar, which are included in a long-term plan with the Dhi Qar Oil Company to advance the oil sector, due to be completed in over two years.

After the relative relaxation of the impacts of the Coronavirus, the Iraqi Drilling Company resumed its negotiations with the international companies developing oil fields in the country and their counterparts affiliated with the Ministry of Oil in the provinces, in preparation for signing the postponed contracts with the aim of enhancing Iraq’s energy capabilities.

The drilling and rehabilitation contracts, hoped to be concluded soon, include drilling 37 wells in the Zubayr field for the Italian company ENI, the main operator of the field, and starting discussions with British Petroleum, the main contractor in the Rumaila field, to develop the giant field west of Basra.

This is in addition to the near signing of a contract to drill 43 wells in Majnoon field with the Basra Oil Company, which is the third largest oil field in the world, with reserves of 6.12 billion barrels.

The Iraqi Drilling Company has completed all its preparations to sign a contract with the Central Oil Company, to drill 27 wells in the East Baghdad field, and it continues its discussions with the Maysan Oil Company to sign a contract for drilling 22 wells in the Bazargan field as well as rehabilitating another 150 wells and a contract to operate a number of drilling towers and rehabilitation of a large number of wells in the Kirkuk fields with the North Oil Company.

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ARTICLE 3

Al-Kazemi is in Basra within two days ... and this is the purpose of the visit

 4/8/2021 18:30 • 
[Al-Yisra_yne]
An informed government source revealed, on Thursday, that Iraqi Prime Minister Mustafa Al-Kazimi will visit Basra Governorate within the next two days.
The source said that Al-Kazemi "will conduct a visit to Basra Governorate, within the next two days, at the head of a large government and security delegation."

He explained that "the visit comes to see the most important preparations to host the 25 Gulf states in Basra," indicating that Al-Kazemi will hold meetings with the local government and security authorities in the province to discuss their plans for this hosting and to provide the necessary support for the success of this hosting.
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ARTICLE 4

Parliamentary Finance: A text in the budget requiring the purchase of Samarra Pharmaceutical Company products

4/8/2021 20:00 •
[Baghdad-Where]
The Parliamentary Finance Committee confirmed, today, Thursday, that a text has been put in place in the Federal Budget Law for the fiscal year 2021, requiring the Ministry of Health to purchase the products of the General Company for Pharmaceutical Industries.
The Deputy Chairman of the Parliamentary Finance Committee, Muthanna Al-Samarrai, said, "The General Company for Pharmaceutical Industries is a governmental institution that must be supported because it provides good products that the country needs, especially in terms of medicines and treatments, and the committee has worked to allocate an amount of 30 billion dinars for its development and modernization of its production lines."
Al-Samarrai added that "a text was added that obliges the Ministry of Health to purchase the products of the company's laboratories and to establish a mechanism for the payment of financial dues from the ministry to the pharmaceutical company."

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