WOTS MON NOV 29 21The Central Bank activates external banking relations with Arab and regional banks
No My FX Buddies Podcast Today
Publishes the exchange rate of the dollar in the local market for Monday, (November 29, 2021), according to the monitoring of specialists.
Baghdad - the stock exchange
147,875
....
The price is in most Baghdad exchanges
Purchase
147,500
Sale
148,250
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Basra - Bursa
147,900
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Erbil - Bursa
148,025
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Najaf - Bursa
147,950
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Mosul - Bursa
148,100
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Sulaymaniyah - Bursa
148,050
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1430.6000 |  1483.8000 | 1456.3000 | 1456.2000 | 1456.2000 | 0.6000 | 12:39 |
| USD/VND | 22690.0000 | 22700.0000 | 22684.2400 | 22681.2300 | 22684.2400 | -4.1100 | 21:46 |
| USD/CNY |  6.3814 | 6.3836 | 6.3923 | 6.3791 | 6.3923 | -0.0109 | 05:14 |
| USD/KWD | 0.3021 | 0.3031 | 0.3023 | 0.3021 | 0.3023 | -0.0003 | 05:14 |
| GBP/USD | 1.3356 | 1.3357 | 1.3358 | 1.3319 | 1.3336 | 0.0020 | 05:17 |
| USD/IRR | 42025.0000 | 42525.0000 | 42245.5000 | 42229.7000 | 42245.5000 | 3.4000 | 00:00 |
| USD/IDR | 14356.0000 | 14359.0000 | 14399.0000 | 14296.0000 | 14399.0000 | -65.0000 | 05:17 |
Stock futures move higher after Friday’s big sell-off, investors monitor omicron Covid variant
South African doctor who first spotted the omicron Covid variant explains the symptoms
The Central Bank activates external banking relations with Arab and regional banks
In 2020, the Iraqi economy suffered from cumulative and complex challenges and repercussions due to the decline in international oil prices and the slowdown in growth in the global economy due to the effects and repercussions of the Corona pandemic.
In addition to Iraq’s suffering, its special circumstances, dispersal of policies, lack of planning, ambiguity and confusion in the methodological vision of managing the economy, which led the government to diagnose the requirements for overcoming that suffering by drawing its strategy for the next three and five years in the white paper. Since the Central Bank is primarily responsible for monetary policy and its applications that contribute to achieving economic stability and overcoming the challenges of instability in the financial system due to the lack of clarity in financial policies, one of the most important tasks of the Central Bank in these two years 2020 and 2021 at the local level was to restore balance in the market Stimulating the economy, revitalizing the economic cycle, and facing the repercussions of reducing the Iraqi dinar exchange rate on low-income groups.
By launching the many financing and lending initiatives and activating the procedures for applying monetary policy and at the external level, building banking cooperation and coordination relations with the banks of Arab and regional countries based on continuous and permanent communication with the governors of banks and financial and banking institutions in these countries, starting with charting a promising economic and financial future with them. Therefore, these relations culminated in activating the banking relations with the Saudi side by visiting the Governor and his accompanying banking delegation and reaching agreements and understandings with the Saudi Central Bank and financial institutions in a way that enhances banking transactions between the two sides and benefit from the successful experiences in both countries.
In continuation of this approach, the meetings of the Governor, the banking delegation formed by the Central Bank, the Association of Banks and a number of heads of boards of directors of private banks continued over the past few days to discuss ways of banking cooperation between the Central Bank of Iraq, the Turkish Central Bank and the Turkish Licensing and Supervision Authority, which had previously been discussed in Baghdad in the presence of the Ambassador The Turkish and the regional managers of the Turkish banks operating in Iraq, which contributed to diagnosing the problems of the daily banking work of the branches of Turkish banks and the efforts of the Central Bank to overcome them and facilitate the work of Turkish banks operating in Iraq. Turkey’s meetings resulted in the following:-
1‐ The necessity of establishing a joint mechanism for cooperation with the Central Bank of Turkey to regulate the control, control and supervision of banking transactions for the broad commercial exchange between the two countries through the banking system.
2‐ The Central Bank expressed its readiness to overcome the observations and difficulties facing Turkish banks in Iraq and to provide them with flexibility and exceptions regarding the instructions issued by the bank in the field of foreign transfers and crude oil credits.
3- Opening channels of understanding and cooperation with Turkish banks to implement banking operations between the two countries.
4‐ Requesting the Turkish Central Bank to cooperate in facilitating the opening of branches of Iraqi banks in Turkey that are nominated by the Central Bank of Iraq, and to be treated in the same way we deal with their branches in Iraq.
The results of the meetings of the two delegations can be summarized by discussing the development of banking and financial relations, the development of banking relations between the two countries, support for the opening of branches of Iraqi banks in Turkey and the opening of mutual accounts, which contributes to the development of trade relations between the two countries on the basis of reciprocity.
Inviting the Turkish Central Bank to provide facilities to Iraqi banks to facilitate the settlement of the trade balance between the two countries and the transfer of funds belonging to Iraqis residing in Turkey.
The Governor of the Central Bank of Turkey praised the efforts made by the Central Bank of Iraq in developing the national economy, stressing that he is ready to open the doors of cooperation and facilitate banking operations between the two countries.
Economic and banking consultant*
The Minister of Digital Economy discusses with his Egyptian and Iraqi counterparts ways of cooperation
Minister of Digital Economy and Entrepreneurship Ahmed Hanandeh discussed in Cairo yesterday evening with Egyptian Minister of Communications and Information Technology Dr. Amr Talaat and Iraqi Communications Arkan Shihab Al-Shaibani, ways to enhance cooperation and strengthen tripartite relations in the fields of communications and information technology.
The meeting was attended by the Kingdom's ambassador to Egypt, Amjad Al-Adayleh, and the deputy chairman of the Board of Commissioners of the Jordan Telecommunications Regulatory Commission, Dr. Nayel Al-Adwan.
The discussions are based on the results of the tripartite summits held throughout the year under the auspices of the leaders of the three countries, which emphasized the importance of implementing a package of cooperation projects between them, as well as strengthening partnership and deepening coordination, cooperation and joint strategic integration.
A statement by the ministry said today, Monday, that it was discussed that the three brotherly countries cooperate with each other to study the possibility of establishing an "interconnection system" between Iraq, Jordan and Egypt, to exchange international traffic to and from Europe and the countries of the world.
The discussions also included the possibility of cooperation in joint projects and initiatives in the field of artificial intelligence applications through the exchange of experiences and best practices between the three brotherly countries, and exploring possible cooperation opportunities in the field of digital skills and support for entrepreneurship, in order to build a wide range of young talents in the field of technologies. Emerging and collaborating on ICT strategies for capacity building.
During the talks, the ministers stressed the importance of maintaining coordination to serve the relations between the three brotherly countries, and the importance of consolidating these relations in the field of communications and information technology, and for the benefit of the peoples of the three countries, in light of the technological development and the fourth industrial revolution that the world is witnessing. It can be used to address the challenges facing societies.
For his part, Al-Hanandeh explained that this tripartite meeting is a very important opportunity to work on finding real partnerships, programs and projects that are in the interest of all parties, by taking advantage of the strengths and advantages that are unique to each of the three countries, in a way that contributes to supporting our youth and our economy all.
He stressed that the ICT sector in the three countries can play an important role in strengthening the historical ties that unite these countries, pointing out that the world is witnessing a stage of intellectual, social, political and digital transformation, where digital transformation is the basis of transformation processes in light of the new concepts that it is witnessing. the world, stressing the importance of empowering and supporting young people in the framework of strengthening the partnership between the three countries.
Economist: There is no relationship between the devaluation of the dinar and the central bank's retention of cash reserves
link hmmmm really? so all the other people that said it does they are wrong?
The expert in economic affairs, Raad Twij, confirmed: "The devaluation of the Iraqi dinar is not a reason for the Central Bank to maintain cash reserves."
Twig said in a statement to the National Iraqi News Agency / NINA /: “There have been increasing statements from Iraqi officials that the devaluation of the Iraqi dinar has worked to preserve the cash reserves of the Central Bank of Iraq, but in fact, from a practical point of view, there is no evidence for that relationship, and the real relationship is the correlation Between what is sold in the currency window of foreign currency and the price at which that currency is sold in the local currency.
He added: "The pressure caused by the demand for foreign exchange in the currency auction forced the decision makers to take a measure to raise the exchange rate as a result of the high marginal propensity to import and the marginal propensity to consume in Iraq by more than 0.9%.
CBI Update: Just a note:
including $48,210,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
11-28-2021 Newshound Guru Sandy Ingram Yes we understand Iraq has over printed its money...But we also understand Iraq is OPEC's second largest producer of oil...We understand Iraq is believed to have more unfound oil under the ground than any other country in the world...We also understand the Untied States and other nations have invested heavily in Iraq and a Return on Investment is how the world works...just wanted you to know why there is more demand than supply of Iraqi dinars...
11-28-2021 Intel Guru Frank26 FRANK: I'm excited about tomorrow's presentation from the Governor of the Central Bank of Iraq to all of you citizens because we told you what they're going to do. We told you that they were going to give you a long explanation and we even told you the words were 'pro and con'...they are going to give you a new rate and a new currency... [post 2 of 2]
11-28-2021 Intel Guru Frank26 [Firefly boots-on-the-ground Iraqi TV update] FIREFLY: Television says a group of Iraqi personnel are in Geneva to discuss Iraq's ascension to the WTO and they're talking about what this will mean in a global front. Then they talk about how the banking sector in Iraq has totally reformed...that our banking reform is complete and we have the most enhanced software and technology in the world and in order to support all this new technology...our currency must represent true value in relationship to the region especially if we're to be a central hub financially... [post 1 of 2....stay tuned]
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