Iraqi News Wednesday Afternoon 7-6-22
TLM724 Administrator BondLady’s Corner
Food Security Law Comes into Force
Money and business Economy News – Baghdad The Iraqi Gazette published the Emergency Support Law for Food Security and Development. After its publication in the Official Gazette, the law will have entered into force. Views 298 Added 07/06/2022 – 2:47 PM Update 07/06/2022 – 6:46 PM
The Central Bank Of / NINA /: There Are Currently No Sufficient Justifications To Change The Exchange Rate Of The Dollar Against The Dinar / Expanded
Wednesday 06 July 2022 18:40 | Economic Number of readings: 34 Baghdad / NINA / – The Central Bank of Iraq has settled the controversy over the parliamentary and societal demands to change and restore the currency exchange rate against the Iraqi dinar.
The Deputy Governor of the Central Bank, Ammar Khalaf, stated, in a statement to the National Iraqi News Agency ( NINA ), that “there is no justification for changing the exchange rate at the present time, and we, as a monetary authority, do not find that there is a sufficient justification to change the currency exchange rate for the time being,” noting He pointed out that “the currency exchange rate has changed more than once since 2004 until now, due to monetary policy tools and economic conditions, whether to strengthen or reverse the value of the dinar.”
He added, “The economic circumstance is the main ruler in the currency exchange rate, as there is no time limit planned for five years or less or more for changing the exchange rate, which is subject within monetary policy to the competence of the Central Bank exclusively.”
He explained, “When the central bank sees that there is a necessity, the exchange rate is changed, but at the present time we do not find a necessity or justified need to modify the current exchange rate.”
He continued, “The economic conditions determine the appropriate decision-making and in a manner appropriate to the time period,” noting that “the monetary policy is characterized by flexibility, but in general it is not good for the exchange rate to be changed quickly because it confuses local markets and weakens the wheel of the economy.”
The government official considered, “It is incorrect for the central bank to change the exchange rate during a convergent time limit, as it will affect the movement of the markets and reduce investment and production,” noting that: “During the first quarter of 2021, we took steps to change the exchange rate when we found a quasi-economic stagnation. In business.”/ https://ninanews.com/Website/News/Details?Key=986447
The Difference Is 100 Dinars.. Dollar Exchange Rates In The Iraqi Market
Economie| 10:01 – 06/07/2022 Baghdad – Mawazine News, the dollar exchange rates stabilized today, Wednesday, on the Iraqi Stock Exchange.
The selling prices of the dollar were 148,450 dinars per 100 dollars, while the purchase prices of the dollar were 148,350 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=198653
99 Billion Dinars Revenues From Border Crossings In June
Money and business Economy News / Baghdad Today, Wednesday, the General Authority of Customs announced that it recorded a quantum leap during June with revenues that have not been achieved for years .
The authority said in a statement that “revenues amounted to more than (99) billion dinars during the month of June 2022, previously not recorded in the previous years for the same month .”
And she added, “This achievement was achieved despite zeroing customs duties for foodstuffs and construction materials and exempting them from fees according to the decision of the Council of Ministers.” 4 . views Added 07/06/2022 – 6:40 PM Update 07/06/2022 – 6:45 PM
https://economy-news.net/content.php?id=28819
Oil Prices Are Rising Again
Economie| 08:20 – 06/07/2022 Follow-up – Mawazine News: Oil prices rose, on Wednesday, as investors returned to the market after a sharp decline in the previous session, amid the return of supply concerns to the fore, despite concerns about a global recession.
Brent crude futures rose as much as $1.04 1.01% to $103.81 a barrel at 04:30 GMT, after tumbling 9.5% on Tuesday, the biggest daily drop since March.
US West Texas Intermediate crude rose to $99.98 a barrel, up 0.48 cents, after closing below $100 for the first time since late April. https://www.mawazin.net/Details.aspx?jimare=198645
The Korean Company Daewoo Reveals The Progress Of Work In The Grand Port Of Faw
Political | 03:46 – 06/07/2022 Baghdad – Mawazine News On Wednesday, the Korean company Daewoo provided a detailed explanation for the management of the General Company for Ports of Iraq on the progress of business in the great port of Faw.
The company’s general manager, Farhan Al-Fartousi, said in a statement that Mawazine News received a copy of it, that he received representatives of Daewoo today to discuss and discuss work steps in the projects implemented in the great port of Faw, stressing that the percentages of completion in them witnessed clear progress and exceed the planned in all projects.
He added that the company made a full presentation on the works in the container terminal, berths, submerged tunnel, digging the navigation channel and the highway. https://www.mawazin.net/Details.aspx?jimare=198691
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