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Iraqi News Saturday AM 10-3-20

TLM724 Administrator BondLady’s Corner

The Central Bank Imposes A Fine On The Shortage Of Small Groups

Saturday 03 October 2020   40   Baghdad: Morning  The Central Bank of Iraq decided to re-impose a shortage fine on banks on the small categories of (1000,500,250) dinars, starting from the date of 10/1/2020, according to the instructions for the standards of circulation and replacement of banknotes, and the mechanisms of counting and sorting.

In a statement followed by Al-Sabah, the bank stated that this came, based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020.

The Central Bank had earlier addressed all licensed banks regarding instructions and standards for the circulation and replacement of banknotes and the mechanisms of counting and sorting.

“Due to lack of commitment to the instructions and standards for the circulation of banknotes, their replacement and the counting and sorting mechanisms, we confirm what was stated in the book of the Department of Issuance and Treasury / Department of Banking and Conformity Follow-up / Banking Follow-up Division numbered 12/8/1470 and dated 10/4/2018, noting that The extent of your banks’ compliance with the above will be monitored through inspection bodies and on-site inspection.

On the other hand, the Central Bank of Iraq participated in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Financing Program, each separately.

The bank discussed with the member states of the Arab Monetary Fund’s board of directors issues that support joint Arab action, most notably the “Arab Payments and Clearing System” Buna “and its importance in facilitating inter-Arab payments and financial transfers.

While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.  LINK

Baghdad And Washington Are Discussing The US Administration’s Initial Decision To Withdraw The Embassy From The Capital

Time: 10/03/2020 09:48:22 Read: 3,952 times (Baghdad: Al Furat News) Foreign Minister Fuad Hussein received a phone call from US Secretary of State Mike Pompeo, and the conversation focused on relations and bilateral ties between the two countries, and the US administration’s initial decision to withdraw the embassy from Baghdad.

According to a statement by the Ministry of Foreign Affairs, the minister expressed his “concern about this decision, despite it being a sovereign decision on the American side, but it may lead to results that are not in the interest of the Iraqi people.”

The minister also affirmed that “the Iraqi government has taken a number of security, organizational, political, and diplomatic measures to stop the attacks on the Green Zone and the airport, and there will be tangible positive results in the near future.”

The American Secretary affirmed that “US-Iraqi relations are important for both sides.”

They discussed “the various future possibilities for the status of diplomatic missions in Baghdad, and the American minister promised to take into account what was discussed in the discussion, and the two sides emphasized the importance of continuing to exchange views and communicate in order to find solutions to this crisis.” LINK

The Dollar Continues To Rise In Iraq

Time: 2020/10/03 11:08:12 Read: 16,198 times

Baghdad: Al Furat News} Today, Tuesday, the dollar in Iraq recorded a rise in the exchange rate against the dinar.

The price of the US currency on the Al-Kifah Stock Exchange in Baghdad was 123 thousand and 850 dinars per hundred dollars, and the price of last week was 123 thousand and 200 dinars. LINK

Price in exchange (approximate)    123,250   124,250

Sulaymaniyah  123,850      Basra  124,000       Mosul  123,900

The Low Exchange Rate Of The Dollar In The Local Markets

Economy News _ Baghdad  Today, Saturday, the exchange rates of the dollar in Baghdad markets decreased against the Iraqi dinar.

Al-Kifah Central Stock Exchange in Baghdad recorded 123800 Iraqi dinars against 100 US dollars, while Al-Harithiya Stock Exchange in Baghdad recorded 123,850 dinars against 100 dollars.

While the exchange rate of the dollar on the Kifah Stock Exchange recorded last Thursday 123900 thousand dinars per 100 US dollars.

The selling prices in the exchange shops in the local markets in Baghdad also decreased, reaching 124,250 Iraqi dinars, while the purchase prices were 123250 dinars per 100 US dollars.

During the past few days, the dollar witnessed a remarkable rise in Iraq, reports that the US administration had taken a decision to close its embassy in Baghdad with the increase in attacks on it.

Number of observations 89, date of addendum 10/3/2020

https://economy-news.net/content.php?id=22088

Iraq’s Oil Exports To America Exceed 3 Million Barrels Within A Month

Energy  Economy News _ Baghdad  The US Energy Information Administration announced, on Saturday, that Iraq’s exports of crude oil to America amounted to 3 million and 17 thousand barrels during the month of September.

She said in a table seen by “Al-Eqtisad News”, that “Iraq exported one million and 617 thousand barrels of crude oil to America during the first week of September, at a rate of 231 thousand barrels per day, while one million and 99 thousand barrels were exported in the second week, at a rate of 157 thousand barrels per day. While not exporting any quantity of oil in the third week, “noting that” the fourth week witnessed the export of 301 thousand barrels, at a rate of 43 thousand barrels per day. ”

She added that “Iraq came in sixth place after Canada, Mexico, Saudi Arabia, Ecuador and Colombia, and the second place in the Arab world after Saudi Arabia, whose exports to America during the month of September reached 7 million and 518 thousand barrels.” These exports for the month of September are 87 million and 465 thousand barrels. ”

It indicated that “Iraqi exports for the month of September decreased from the previous month of August, in which exports reached five million and 369 thousand barrels.”

America is the most oil-consuming country in the world, with the United States occupying the first place with 19.4 million barrels per day, which constitutes 19.7% of the global consumption.

Number of observations 76 Date of addendum 10/3/2020

https://economy-news.net/content.php?id=22087

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