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Central Bank of Iran: We can not provide hard currency


yota691
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Financial Advisor to the Prime Minister Dr. Mazhar Mohammed Saleh «Economy News»

  

 money and business


Economy News - Baghdad

The Financial Advisor to the Prime Minister, the appearance of Mohammed Saleh, said that Iraq will continue its trade relations with Iran through the use of other currencies instead of the dollar.

"The US sanctions stipulated that Iran should not deal with the dollar currency, so Iraq will use other currencies to maintain its trade relations with Iran," Saleh said in an interview with Al-Iqtasad News. "The government is determined to fight any attempt to smuggle the dollar from Iraq to Iran."

"Iraq has stopped importing cars from Iran, from Iran and is looking for other markets to cover shortages in the local market," he said.

From Hamid Al Wadi


Views 109   Date Added 14/08/2018

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Abadi adviser: Iraq will continue its trade relations with Iran in other currencies

 

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Financial Advisor to the Prime Minister Dr. Mazhar Mohammed Saleh «Economy News»

  

 money and business

 

Economy News - Baghdad

The Financial Advisor to the Prime Minister, the appearance of Mohammed Saleh, said that Iraq will continue its trade relations with Iran through the use of other currencies instead of the dollar.

"The US sanctions stipulated that Iran should not deal with the dollar currency, so Iraq will use other currencies to maintain its trade relations with Iran," Saleh said in an interview with Al-Iqtasad News. "The government is determined to fight any attempt to smuggle the dollar from Iraq to Iran."

"Iraq has stopped importing cars from Iran, from Iran and is looking for other markets to cover shortages in the local market," he said.

 

From Hamid Al Wadi

Views 158   Date Added 08/14/2018

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http://economy-news.net/content.php?id=13266

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  • yota691 changed the title to Central Bank: Iraq does not deal with Iran in the currency of the dollar
 
Wednesday 15 August

 

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Alsumaria News / Baghdad 
announced that the Central Bank of Iraq , Wednesday, that Iraq does not deal with Iran in the currency of the US dollar, adding that Iran has not learned from this currency. 

The director of financial operations at the bank, Mahmoud Dagher, told Alsumaria News that "dealing with the dollar with Iran is banned for a long time and not now, and did not deal with the bank or the banking system in Iraq with Iran in dollars within the exchange of foreign trade," asserting that " Are subject to strict supervision, and are subject to the Money Laundering Bureau and various supervisory bodies. "

 

 


"Iran does not benefit from dealing with the dollar because it has long been trading on the basis of other currencies, especially the euro," Dagher said. "Therefore, the devaluation of the Iranian currency significantly makes its dollar deal very costly." 

New sanctions against Iran have been in force since Tuesday (August 7, 2018), despite pleas from Washington's allies "These are the worst sanctions ever," he wrote on Twitter .

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IRAN / IRAN Date: 2018 Aug / Aug 15 - GMT
 
 
 

The governor of the Central Bank of Iran predicted a gradual recovery of the riyal exchange rate against foreign currencies in the parallel exchange market.

Abdel Nasser Hamti said in a statement on the sidelines of the cabinet meeting on Wednesday that the central bank does not intervene in the exchange rate of riyal in the parallel market (secondary), which determines the prices of currencies according to the mechanism of supply and demand.

On the other hand, the Governor of the Central Bank, the adoption of programs related to the benefits of bank deposits will be announced later.

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2018/08/15 14:43
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Central: Do not deal with Iran in dollars

 

BAGHDAD (Reuters) - The Central Bank of Iraq (CBE) announced on Wednesday (August 15th, 2018) that Iraq does not deal with Iran in the US dollar currency, pointing out that Iran does not benefit from this currency.

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"The dollar deal with Iran has been banned for a long time now, not now, and the bank or the banking system in Iraq has not dealt with the dollar in the foreign trade exchange," said Mahmoud Dagher, director general of financial operations at the bank. Strictly controlled, also subject to the money laundering office and various supervisory bodies. "

"Iran does not benefit from dealing with the dollar because it has long been trading on the basis of other currencies, especially the euro," Dagher said. "Therefore, the devaluation of the Iranian currency significantly makes its dollar deal very costly."

New sanctions against Iran have been in force since Tuesday (August 7, 2018), despite appeals from Washington's allies. "These are the worst sanctions ever," he wrote on Twitter.

Follow the obelisk

http://almasalah.com/ar/news/147292/المركزي-لا-تعامل-مع-ايران-بالدولار

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4 hours ago, Butifldrm said:

"The US sanctions stipulated that Iran should not deal with the dollar currency, so Iraq will use other currencies to maintain its trade relations with Iran," Saleh said in an interview with Al-Iqtasad News. "The government is determined to fight any attempt to smuggle the dollar from Iraq to Iran."

 

So a couple things that seem to stand out here. One, the USD still is a supreme international currency AND supremely beneficial international trade currency. Two, Iraq is going to have to move to "other currencies" (why not say just Euros???!!!). The "other currencies" would appear to reflect the Bicraqi Iraqi Dinar is going.....................(You guessed it)...................."INTERNATIONAL"!!!

 

:backflip:       :backflip:       :backflip:

 

Maybe the sanctions on Iran to not deal in the USD even with Iraq AND forcing the Bicraqi Iraqi to deal with Iran in "other currencies" is a back handed way to get the Bicraqi Iraqi to go "INTERNATIONAL" with the Bicraqi Iraqi Dinar. Otherwise, wouldn't the conversion to USD then Euro or "other currencies" be problematic (expensive or economically cumbersome) for Iraq in their dealings with Iran???!!! Iran is Iraq's second largest trading partner with a miniscule 7 billion dollars a year by world standards but a major trading partner issue for the Bicraqi Iraqi.

 

Optimistically hopeful...................................................

 

By the way, THANK YOU, Butifldrm, for all these great articles AND The Best Of Your Week To You AND Upcoming Weekend!!! :tiphat:

 

In The Mean Time........................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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4 hours ago, Synopsis said:

 

So a couple things that seem to stand out here. One, the USD still is a supreme international currency AND supremely beneficial international trade currency. Two, Iraq is going to have to move to "other currencies" (why not say just Euros???!!!). The "other currencies" would appear to reflect the Bicraqi Iraqi Dinar is going.....................(You guessed it)...................."INTERNATIONAL"!!!

 

:backflip:       :backflip:       :backflip:

 

Maybe the sanctions on Iran to not deal in the USD even with Iraq AND forcing the Bicraqi Iraqi to deal with Iran in "other currencies" is a back handed way to get the Bicraqi Iraqi to go "INTERNATIONAL" with the Bicraqi Iraqi Dinar. Otherwise, wouldn't the conversion to USD then Euro or "other currencies" be problematic (expensive or economically cumbersome) for Iraq in their dealings with Iran???!!! Iran is Iraq's second largest trading partner with a miniscule 7 billion dollars a year by world standards but a major trading partner issue for the Bicraqi Iraqi.

 

Optimistically hopeful...................................................

 

By the way, THANK YOU, Butifldrm, for all these great articles AND The Best Of Your Week To You AND Upcoming Weekend!!! :tiphat:

 

In The Mean Time........................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

 

Please be right!  Please be right!  Please be right!  😊

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empty.gif Concerns about the collapse of the Iraqi dinar because of the collection of Iranians to the dollar

Post Today at 12:49

2018/8/16 02:32:56 PM

Import, export and construction companies continue to purchase large amounts of dollars from Baghdad's money exchangers. Iraqi officials said the dollar-linked companies were linked to Iran and backed by parties and armed factions within the popular crowd.

The value of the Iraqi currency fell from 1200 dinars to the dollar last Sunday, to 1210 dinars now, after a long stabilization witnessed by the Iraqi currency against the dollar by a policy adopted by the Central Bank of Iraq earlier this year in cooperation with the International Monetary Fund aims at the end to cancel one zero dinars to address inflation in the country.

The central bank has suspended all bank transactions in dollars with banks and foreign remittance offices of Iran because of the imposition of US sanctions on Tehran.

"Based on the decision of the Central Bank of Iraq, it was decided to ban the dollar deal with the branches of Iranian banks and the euro currency, it is up to the requirements of dealing with the European Central Bank, banks dealing with the euro."

The ban on dealing with Iranian banks came in dollars, days after the first package of Washington's economic sanctions came into force on Tuesday, aimed at increasing pressure on Iran over its nuclear program.

The newspaper "New Arab" London, a senior Iraqi official in the Secretariat of the Iraqi Council of Ministers in response to a query on the accuracy of the rumors in the Iraqi street of the existence of groups withdrawing large amounts of dollars as "true."

The official, who declined to be identified, said that the National Security Service and the intelligence service monitored various parties buying the dollar from exchange offices and licensed financial companies in Baghdad and the provinces. According to the official, it is estimated that what has been collected so far not less than 400 million dollars withdrawn from the market daily trading since last Saturday and is no longer to him, adding that "these entities belong to Iran and supported by parties and armed factions within the popular crowd."

On how to transfer these funds to Iran, he said, "You have 1300 kilometers of common border open between the two countries."

He pointed out that firm action will be taken by the government in cooperation with the Central Bank, including determining the amount of what can be sold from the dollar to companies or persons and the establishment of a database for each person who buys the dollar and where to go or the hand to spend in order to maintain the dinar price and prevent its collapse under the new changes.

"Many of those who buy the dollar are political or follow groups in the crowd and we can not refuse to deal with them," said a commissioner at one of Baghdad's biggest money changers.

According to the same official, who asked not to be named, "the government is required to spare exchange and financial transfer companies this responsibility immediately," asserting that the withdrawals of the dollar is increasing from Baghdad, Erbil, Sulaymaniyah, Najaf, Basra and Karbala as the richest provinces in Iraq in terms of acquisition of huge liquidity.

He added that "the increase in the purchase of the dollar will lead to a shortage in the market and thus adversely affect the dinar, and if continued for long periods may collapse the local currency to range between 1290 and 1300 dinars to the dollar.

"What is happening now in the market is predictable and most observers were sure that if Iran did not withdraw the dollar from Iraq through exchange companies and the central bank auction, it would pull it across the border in the conventional way," said Ali Hussein Mahmoud, a specialist on Iraqi economic affairs.

He explained that Iraq for about 14 years the first supplier of the dollar for Iran and talk about at least 12 billion dollars a year goes to Iran, and the issue of stopping the largest of the government of Baghdad as Iran Iran Iraq basket of currencies and any prejudice to this aspect means a threat to its economic security, Iraq to prevent official trading with Iran in dollars will not be completed. "

For his part, a member of the Iraqi Chambers of Commerce in Baghdad, Anas Ahmed al-Dulaimi said that "Iraq deals with Iran through a system of senior traders have relations with the decision makers in the country and talk about that Iraq stopped dealing via remittances in dollars is not true there are unknown companies still deal voluntarily and other reluctance "He said.

He pointed out that the Iraqi market for goods and services has not been affected so far but with the increase of the bleeding of hard currency will reflect negatively on all sectors.

Prime Minister Haidar al-Abadi said Tuesday that Iraq is not sympathetic to US sanctions against Iran, but his government is obliged to abide by those sanctions to protect the interests of the Iraqi people.


http://oneiraqnews.com/index.php?aa=news&id22=5946&iraq=%E3%CE%C7%E6%DD%20%E3%E4%20%C7%E4%E5%ED%C7%D1%20%C7%E1%CF%ED%E4%C7%D1%20%C7%E1%DA%D1%C7%DE%ED%20%C8%D3%C8%C8%20%CC%E3%DA%20%C7%E1%C5%ED%D1%C7%E4%ED%ED%E4%20%E1%E1%CF%E6%E1%C7%D1#.W3W26rgnbIU
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1 hour ago, pokerplayer said:
 
 

empty.gif Concerns about the collapse of the Iraqi dinar because of the collection of Iranians to the dollar

Post Today at 12:49

2018/8/16 02:32:56 PM

Import, export and construction companies continue to purchase large amounts of dollars from Baghdad's money exchangers. Iraqi officials said the dollar-linked companies were linked to Iran and backed by parties and armed factions within the popular crowd.

The value of the Iraqi currency fell from 1200 dinars to the dollar last Sunday, to 1210 dinars now, after a long stabilization witnessed by the Iraqi currency against the dollar by a policy adopted by the Central Bank of Iraq earlier this year in cooperation with the International Monetary Fund aims at the end to cancel one zero dinars to address inflation in the country.

The central bank has suspended all bank transactions in dollars with banks and foreign remittance offices of Iran because of the imposition of US sanctions on Tehran.

"Based on the decision of the Central Bank of Iraq, it was decided to ban the dollar deal with the branches of Iranian banks and the euro currency, it is up to the requirements of dealing with the European Central Bank, banks dealing with the euro."

The ban on dealing with Iranian banks came in dollars, days after the first package of Washington's economic sanctions came into force on Tuesday, aimed at increasing pressure on Iran over its nuclear program.

The newspaper "New Arab" London, a senior Iraqi official in the Secretariat of the Iraqi Council of Ministers in response to a query on the accuracy of the rumors in the Iraqi street of the existence of groups withdrawing large amounts of dollars as "true."

The official, who declined to be identified, said that the National Security Service and the intelligence service monitored various parties buying the dollar from exchange offices and licensed financial companies in Baghdad and the provinces. According to the official, it is estimated that what has been collected so far not less than 400 million dollars withdrawn from the market daily trading since last Saturday and is no longer to him, adding that "these entities belong to Iran and supported by parties and armed factions within the popular crowd."

On how to transfer these funds to Iran, he said, "You have 1300 kilometers of common border open between the two countries."

He pointed out that firm action will be taken by the government in cooperation with the Central Bank, including determining the amount of what can be sold from the dollar to companies or persons and the establishment of a database for each person who buys the dollar and where to go or the hand to spend in order to maintain the dinar price and prevent its collapse under the new changes.

"Many of those who buy the dollar are political or follow groups in the crowd and we can not refuse to deal with them," said a commissioner at one of Baghdad's biggest money changers.

According to the same official, who asked not to be named, "the government is required to spare exchange and financial transfer companies this responsibility immediately," asserting that the withdrawals of the dollar is increasing from Baghdad, Erbil, Sulaymaniyah, Najaf, Basra and Karbala as the richest provinces in Iraq in terms of acquisition of huge liquidity.

He added that "the increase in the purchase of the dollar will lead to a shortage in the market and thus adversely affect the dinar, and if continued for long periods may collapse the local currency to range between 1290 and 1300 dinars to the dollar.

"What is happening now in the market is predictable and most observers were sure that if Iran did not withdraw the dollar from Iraq through exchange companies and the central bank auction, it would pull it across the border in the conventional way," said Ali Hussein Mahmoud, a specialist on Iraqi economic affairs.

He explained that Iraq for about 14 years the first supplier of the dollar for Iran and talk about at least 12 billion dollars a year goes to Iran, and the issue of stopping the largest of the government of Baghdad as Iran Iran Iraq basket of currencies and any prejudice to this aspect means a threat to its economic security, Iraq to prevent official trading with Iran in dollars will not be completed. "

For his part, a member of the Iraqi Chambers of Commerce in Baghdad, Anas Ahmed al-Dulaimi said that "Iraq deals with Iran through a system of senior traders have relations with the decision makers in the country and talk about that Iraq stopped dealing via remittances in dollars is not true there are unknown companies still deal voluntarily and other reluctance "He said.

He pointed out that the Iraqi market for goods and services has not been affected so far but with the increase of the bleeding of hard currency will reflect negatively on all sectors.

Prime Minister Haidar al-Abadi said Tuesday that Iraq is not sympathetic to US sanctions against Iran, but his government is obliged to abide by those sanctions to protect the interests of the Iraqi people.


http://oneiraqnews.com/index.php?aa=news&id22=5946&iraq=%E3%CE%C7%E6%DD%20%E3%E4%20%C7%E4%E5%ED%C7%D1%20%C7%E1%CF%ED%E4%C7%D1%20%C7%E1%DA%D1%C7%DE%ED%20%C8%D3%C8%C8%20%CC%E3%DA%20%C7%E1%C5%ED%D1%C7%E4%ED%ED%E4%20%E1%E1%CF%E6%E1%C7%D1#.W3W26rgnbIU

 

  This is getting good.   Thanks Pokerplayer :D

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What is this???????  

 

This was a theory of mine that I posted awhile back.  Drop one zero at a time.  We know there's no inflation in Iraq, but could this be the plan?  Drop one zero at a time?

I've never seen such a plan in print before.

 

"a policy adopted by the Central Bank of Iraq earlier this year in cooperation with the International Monetary Fund aims at the end to cancel one zero dinars to address inflation in the country."

 

(To the fellow South of the border - I beg of you, please do not respond to my post.)

Edited by Floridian
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I don't believe they would telegraph their real intention even while under great pressure so it seems . And if they just have ? I can only imagine after such plans have changed maybe do to the drop in value. The timing of their recent actions is curious . Specimen release. Auction activity .National Meeting Preparation. Education of payment system articles . HCL Sept. 5th . They seem to be under great pressure and pressed for time to keep control of things and to proceed in order, to the next phase ?

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2 hours ago, bostonangler said:

This could be it!!! Or soon... Dang I the that word! LOL

 

B/A

 

11 minutes ago, 10 YEARS LATER said:

 

OMG 😲! You said the “S” word !:bravo:

 

Now you have done it!!! Where is that bar of soap for four letter words. :lol:

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  • yota691 changed the title to Central Bank of Iran: We can not provide hard currency
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