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Iraqi News Monday AM 12-14-20

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A Financial Expert Comments On Raising The Dinar Exchange: No One Can Speak!

13:46 – 12/14/2020  The information / Baghdad ..The financial expert, Ahmed Buraihi, confirmed, on Monday, that it is wrong to make statements about raising the exchange rate of the dinar against the dollar by personalities who are not connected to the central bank, because this approach belongs to the Central Bank exclusively.

In a statement to “the information”, Prihi said, “Until now, there is no information confirming or indicating the reason for raising the price of the dinar against the US dollar, and we cannot talk about it, and no one has the right to address the issue because it is exclusively related to the central bank.” Raising the “exchange rate has reasons and obligations that are decided exclusively by the Central Bank.”

He added that “all countries of the world avoid talking about such topics in order not to raise expectations that problems will arise,” noting that “raising the issue at the present time may affect people’s livelihood.”

And it revealed that there were efforts to raise the value of the dollar against the dinar at the beginning of the new year, so that the value of its sale in the currency auction reached 145 and in the market to 150 thousand dinars. Ended / 25 AD   https://www.almaalomah.com/2020/12/14/510072/

An Economic Specialist Warns Of Attempts To Reduce The Price Of The Dinar In The Budget … And Holds The Government And The Central Bank Responsible For The Rise In The Dollar

Monday 14, December 2020 13:09 | Economical Views: 256  Baghdad / NINA / Economic specialist Dergham Muhammad Ali criticized the government’s efforts to address the deficit by lowering the exchange rate of the dinar.

Muhammad Ali said in a special statement to the Iraqi National News Agency / NINA /: “What has been suggested about the budget law for 2021 is that it tends to change the current exchange rate for the dollar and reduce the value of the dinar. Its negative impact began to appear clearly on the exchange rates of the dollar in the local market and the monopoly of speculators in the currency market. “.

He pointed out: “The Central Bank is silent about this rise despite selling large quantities in cash at the official rate to banks, without creating other windows to preserve the market’s balance from manipulating the exchange rate and creating a black market for the dollar.”

The economic specialist carried directly the government and the central bank, the inflationary shocks caused by the exchange rate change.

Today, Monday morning, the local markets and exchange offices witnessed a significant increase in the exchange rate of the dollar against the dinar, recording 128 thousand and 200 dinars per 100 dollars. ”

https://ninanews.com/Website/News/Details?key=876115

A Crazy Rise Of The Dollar In Iraq .. And The Parliamentary Finance Holds The Central Bank Responsible

Time: 12/14/2020 15:41:00 Read: 5,421 times   (Baghdad: Al Furat News) The exchange rate of the dollar in Iraq has risen continuously since Monday morning.

The exchange rate in Baghdad reached 1300 dinars, or 130 thousand dinars for one hundred dollars, amid expectations that it will increase further.

A member of the Parliamentary Finance Committee, Muhammad Al-Darraji, held the Central Bank of Iraq responsible for the losses of the currency auction.

Al-Darraji said in a tweet on Twitter: “Today the Central Bank’s sales are $ 230 million – the difference in the selling price between the bank and the market is 110 dinars per dollar, meaning the profit is 25 billion dinars in one day!”

He added, “It is assumed that any change in the exchange rate must be through the central bank in order for the state and the citizen to benefit from it, and not through currency dealers so that they and those behind them profit” with this difference in the exchange rate between the bank auction and the local market.  LINK

Iraq .. 132,000 Dinars For 100 US Dollars!

Economy  Monday 14 December 2020 | 03:25 pm| Views: 330  The exchange rate of the dollar in the Baghdad market rose rapidly today, Monday, December 14, 2020 .

A source said that the Central Kifah Stock Exchange in Baghdad recorded this afternoon 132,000 Iraqi dinars against 100 US dollars, and Al-Harithiya Stock Exchange in Baghdad recorded 132,000 dinars against 100 dollars .

Al-Kifah Central Stock Exchange in Baghdad this morning recorded 128,200 Iraqi dinars against 100 US dollars .

The source pointed out that the buying and selling prices also increased in the exchange shops in the local markets in Baghdad, where the selling price reached 133,000 Iraqi dinars, while the purchase prices reached 131,000 dinars per 100 US dollars .   https://aynaliraqnews.com/index.php?aa=news&id22=141833

Deputy Reveals The Difference Between The Currency Auction And The Dollar Price Today: 25 Billion Iraqi Dinars

Political| 05:18 – 12/14/2020   Baghdad – Mawazine News, a member of the Parliamentary Finance Committee, Muhammad Sahib Al-Darraji, confirmed, on Monday, that the difference between the auction of the operation and the exchange rate of the dollar in the Iraqi market today amounted to 25 billion Iraqi dinars.

Al-Darraji said in a tweet on Twitter: “Today the Central Bank’s sales are $ 230 million. The difference in the selling price between the bank and the market is 110 dinars per dollar, meaning 25 billion dinars profit in one day!”

He added, “Any change in the exchange rate is supposed to be through the central bank so that the state and the citizen can benefit from it through currency dealers, so that they and those behind them benefit.”

https://www.mawazin.net/Details.aspx?jimare=134173

Parliamentary Finance Reveals The Difference Between The Currency Auction And The Dollar Price Today

Author: Ahad7 On 12/14/2020 – 6:04 PM 18   A member of the Parliamentary Finance Committee, Muhammad Sahib Al-Darraji, confirmed, on Monday, that the difference between the auction of the operation and the exchange rate of the dollar in the Iraqi market today amounted to 25 billion Iraqi dinars.

Al-Darraji said in a tweet on Twitter: “Today the Central Bank’s sales are $ 230 million. The difference in the selling price between the bank and the bank is 110 dinars per dollar, meaning 25 billion dinars profit in one day!

He added, “Any change in the exchange rate is supposed to be through the central bank so that the state and the citizen can benefit from it through currency dealers, until they and those behind them benefit.”

https://alahadnews.net/143615/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af/

A New Boom In The Dollar Price In The Iraqi Market

Pratha News Agency158 2020-12-14  The approximate exchange rates of the dollar in the Iraqi market, Monday, (December 14, 2020), according to the monitoring of specialists.

Baghdad – the price on the Kifah Stock Exchange  128,200

Basra / Stock Exchange  128,100  Erbil / Bursa  127,750  Sulaymaniyah / Bursa  127,750  Mosul / Joomla  128,000

The exchange rate of the dollar yesterday (December 13, 2020) in the Iraqi market was as follows:

Baghdad – the price on the Kifah Stock Exchange  B127,050  Price in exchange (approximate)

Purchase of 126,500   Sale of 127,500

Basra / Stock Exchange  126,950  Sulaymaniyah / Bursa  126,750  Erbil / Bursa  126,750  Kirkuk / Joomla  126,800 http://burathanews.com/arabic/economic/382411

The High Exchange Rates Of The Dollar In The Local Markets

Market  Economy News _ Baghdad  “Al-Eqtisadiah News” publishes the prices of the dollar against the dinar in the local markets, according to the Iraqi Political Economic Center, Monday, (December 14, 2020).

The sale price of the dollar is 128,250    The purchase price of the dollar is 127,250

Euro: 100 euros, 121,43 dollars    Sterling: $ 133.28 100 pounds  Turkish lira: 100 dollars, 787.10 Turkish lira

The price of an ounce of gold worldwide is $ 1834.66

The price of a barrel of Brent crude oil is $ 50.40   The price of a barrel of US crude oil is $ 46.90

Number of observations 91 Date of addendum   https://economy-news.net/content.php?id=23130

Parliamentary Finance Reveals A Surprising Reason For The Dollar’s Rise

Time: 12/14/2020 16:22:54 Read: 4,199 times   {Baghdad: Al Furat News} The Parliamentary Finance Committee revealed the reason for the high exchange rate of the dollar against the Iraqi dinar in the country today.

“The government wants to gradually raise the exchange rate to reduce the budget deficit, but this rise is borne by the citizen,” said Jamal Cougar, a member of the committee.

Cougar ruled out the government taking any action as this rise is “a direction”.

It is noteworthy that the dollar exchange rate has jumped in Iraq continuously since Monday morning and reached 1300 dinars in Baghdad, or 130 thousand dinars for one hundred dollars, amid expectations of a further rise.

A member of the Parliamentary Finance Committee, Muhammad Al-Darraji, held the Central Bank of Iraq responsible for the losses of the currency auction.

Al-Darraji said in a tweet on Twitter: “Today the Central Bank’s sales are $ 230 million – the difference in the selling price between the bank and the market is 110 dinars per dollar, meaning 25 billion dinars profit in one day!”

He added, “It is assumed that any change in the exchange rate must be through the central bank in order for the state and the citizen to benefit from it, and not through currency dealers so that they and those behind them profit” with this difference in the exchange rate between the bank auction and the local market.  LINK

Association Of Banks: The Central Bank Is Able To Restore Stability In The Dollar

Monday 14th December 2020   30  Baghdad: Conscious  The Association of Private Banks announced, yesterday, Sunday, work on two axes to support various segments of society, while it indicated that negative statements about the depreciation of the Iraqi dinar contributed to the rise in the exchange rate of the dollar.

The executive director of the Association of Private Banks, Ali Tariq, told the Iraqi News Agency (INA): “The association is currently working on two axes, the first is the support provided through the Empowerment of Community Initiatives Fund, which is supervised by the Central Bank and the Association of Banks, and the other axis is related to banking, as The Iraqi Central Bank has greatly facilitated the issue of financing small and medium enterprises through banks, as there are more than 35 banks participating in this The initiative”.

Regarding the increase in currency exchange rates, the Executive Director explained, “The exchange rates of the dollar are subject to the issue of supply and demand, as the very negative statements about reducing the value of the Iraqi dinar in the coming period have pushed merchants and dealers to convert their money into hard currency.” He pointed out that «the Central Bank of Iraq has its tools to manage monetary policy».

It is expected that “the central bank, during the coming period, will be able to absorb this crisis and restore prices to normal.”   LINK

Compliance, Governance And Digital Transformation

Monday 14th December 2020  23  Muhammad Sharif Abu Maysam  The vision regarding economic reform in the country may differ among politicians, specialists and observers according to their intellectual and ideological orientations, but they may converge on three basic concepts, namely: (compliance, governance and digital transformation) as unquestioned participants when implementing any reform program.

The first of these concepts pulls us at first towards the banking sector, as a concept that refers to one of the important tools in the management system for this sector, according to which the compliance monitor and the entities affiliated with the central bank follow up and monitor the bank’s performance and the extent to which this performance conforms to the standards, laws and agreements that regulate the work of the banking industry. To achieve the goal for which the banking sector was found.the shift.

As digital transformation does not mean the use of e-mail instead of paper mail, rather it means increased efficiency in performance in a way that reduces the possibility of error and increases productivity, as technologies are exploited in reducing the manifestations of corruption and reducing time in providing services and enhancing capabilities to keep pace with development as a transformation In the pattern of education and scientific research, it is not possible to go into this transformation by merely introducing technologies into institutional formations and public and private establishments, without upgrading the educational base that establishes the investment in human potential. LINK

Al-Kazemi’s Financial Advisor: Adopting Pre-Payment Will Ensure That The Budget Needs Are Met

Economie| 10:56 – 12/14/2020  Baghdad – Mawazine News  The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Monday, that adopting prepayment from the sale of oil will ensure that the budget’s need for stable and stable financial resources is met, and that the necessities of exchange are secured.

Saleh said that “the fiscal policy has taken its role in securing the means of external borrowing, to support the liquidity of the general budget and the sustainability of its cash flows from external financing sources.”

He added that “pre-export financing is one of the external financing methods, to ensure that the budget’s need for stable and stable financial resources is met, within the specified timings for disbursement.” He noted that ”

He stressed that “exchanging oil for advanced cash payment, as one of the outlets for diversifying external borrowing, comes to secure exchange necessities, especially the ruling investment projects.”

And Oil Minister Ihsan Abdul-Jabbar confirmed earlier to the Iraqi News Agency (INA), that “Iraq is in a way to pre-sell to provide financial liquidity,” noting that “for the first time in the history of the Ministry of Oil, this type of sale was offered, as this matter revealed On the market capacity, and the extent of customer confidence in the ministry, “stressing that” the results were good, to win this tender, and that SOMO received good results, and there are more than one company competing in the tender.”     https://www.mawazin.net/Details.aspx?jimare=134110

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