Iraqi News Highlights Saturday Afternoon 1-21-23
Tlm724 Administrator Bondlady’s Corner
The Wall Street Journal: Intensifying Pressure On Iran To Reduce The Value Of The Iraqi Currency
Posted On2023-01-21 By Sotaliraq The Wall Street Journal confirmed in a report that the intensification of pressure on the Iranian regime has led to a drop in the value of the Iraqi currency.
She added that since the New York Federal Bank imposed strict control in November to counter the smuggling of dollars to Iran, more than 80 percent of Iraqi bank transfers have been closed.
According to the report, these bank exchanges used to reach $250 million some days, but now due to the lack of sufficient information about the destination of sending the money, the possibility of exchanging the money has been stopped.
And the American newspaper continued in its report that this new policy of the Federal Bank of New York, which was adopted mainly to increase pressure on the Iranian regime, has already caused the depreciation of the Iraqi currency and the weakening of the Iraqi economy.
The Wall Street Journal wrote that Iraqi government officials see this unexpected factor as the reason behind the weakening of their national currency, which has led to higher prices for food and imported goods.
The French Press Agency reported in recent days that the devaluation of the Iraqi dinar caused an increase in the prices of imported commodities such as gas and wheat.
The French press reported that Iraq, which has foreign exchange reserves of more than $100 billion, must take measures to combat money laundering, combat terrorist financing and comply with sanctions such as those against Russia and Iran, to be able to use its funds.
The Wall Street Journal also wrote that, based on the new regulations, Iraqi banks must submit their dollar transactions to the central bank through a new online platform, which will then be reviewed by the Federal Bank of New York.
The newspaper added that the aim of this is to reduce the use of the Iraqi banking system as a tool to send dollars to Tehran, Damascus and other money laundering havens in the Middle East. LINK
The Ministry Of Interior Is Pursuing Manipulators Of Dollar Exchange Rates And Vows To Hold Them Accountable According To The Law
a wish| 06:24 – 01/21/2023 Baghdad – Mawazine News Today, Saturday, the Ministry of Interior announced the implementation of a security operation to arrest manipulators of dollar exchange rates.
The Ministry of the Interior said in a statement, a copy of which was received by Mawazine News, that it “seeks to achieve economic security and follow up on violators of laws and controls in the dollar exchange rate process on a daily basis and develop appropriate plans to follow up on price manipulators and hold them accountable according to the law,” pointing out that “the competent security agencies A security operation was carried out in the capital, Baghdad, and the provinces to arrest the manipulators of dollar exchange rates outside the controls and instructions, as well as the owners of unlicensed exchange shops.
He added, “This operation did not target the owners of companies who deal legally, away from speculation that targets the citizens’ livelihood, as well as smuggling dollars and confusing the market.” Ended 29 / m99 https://www.mawazin.net/Details.aspx?jimare=217204
Al-Sudani Talks About Budget Developments And Warns Against Exploiting The Rise In The Dollar
Money and business Economy News-Baghdad
Prime Minister Muhammad Shia al-Sudani affirmed, on Saturday, the continued support of the Central Bank of Iraq in order to stabilize the exchange rate of the dollar against the Iraqi dinar, among the latest developments in the completion of the budget law.
Al-Sudani said, “The Iraqi government continues to support the Central Bank of Iraq in order to stabilize the exchange rate of the dollar against the Iraqi dinar,” noting that “the exchange rate crisis was inherited by the previous government.”
Al-Sudani warned against “those who try to take advantage of the dollar’s rise and play on people’s pain.”
On the other hand, Al-Sudani stressed that “the government is supervising the completion of a different budget law than previous years.” Views 113 Added 01/21/2023 – 11:27 AM Updated 01/21/2023 –
https://economy-news.net/content.php?id=32000
A security operation to arrest “manipulators” of dollar exchange rates in Baghdad and the provinces
Economy News – Baghdad The Ministry of the Interior announced, on Saturday, the implementation of a security operation to arrest manipulators of dollar exchange rates.
The ministry said in a statement that it “seeks to achieve economic security, follow up on violators of laws and controls in the dollar exchange rate process on a daily basis, and develop appropriate plans to follow up on price manipulators and hold them accountable according to the law.”
And she added, “The competent security services carried out a security operation in the capital, Baghdad, and the provinces to arrest the manipulators of dollar exchange rates outside the controls and instructions, as well as the owners of unlicensed exchange shops.”
He added, “This operation did not target the owners of companies who deal legally, away from speculation that targets the citizens’ livelihood, as well as dollar smuggling and confusing the market.”
Views 43 Added 01/21/2023 – 6:49 PM Updated 01/21/2023 – 7:01 PM
https://economy-news.net/content.php?id=32011
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