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Here's some disturbing articles of Dinarian interests... CBI is losing control of the ER Parallel Markets. Speculators are raising the price of the Dollar. Speculation, regional wars & UST policies are blamed. The Dollar crisis has returned. There can be no RV-RI at this time due to stability issues. Long reads but are worth your while. Treat as rumors. Not verified. Your opine. Tlm724 Administrator Bondlady’s Corner: Fasten Your Seatbelts...It's Going To Be A Bumpy Ride. ARTICLE: Experts: The Dollar Price Will Remain Volatile As Long As The Economy Is Not Stimulated. Volatility has returned once again to dominate the Dollar ER on local stock exchanges in Iraq, after a period of “semi-stability” that dominated the market during the recent period. The market witnessed a “limited” increase yesterday, Monday, as the ER of the USD reached 154 Iraqi Dinars compared to 100 Sollars in Baghdad & 153 Dinars in Erbil in the Kurdistan Region. Experts & specialists believe that what is happening is a temporary exploitation by some speculators who took advantage of the regional tensions in the region to benefit from buying & selling in the parallel market. The PM’s Advisor for Financial & Economic Affairs, Dr. Mazhar Muhammad Saleh, said in an interview with Al-Sabah newspaper, which is affiliated with the Independent: “The issue is related to regional security tensions, which give colorful or ambiguous information that affects the decisions of speculators in the secondary exchange market when buying & selling, which prompts them to hedge.” One or two points above the current market trading prices or trading prices in such cases that people are accustomed to.” He added: “ A behavior practiced by speculative forces to achieve emergency or fateful profits under the pretext of misfortune & fear, because the decisions of this market are based on various information as inputs that influence the decisions of those dealing in it. Therefore, these markets are considered among the most sensitive financial markets & live in their daily speculation on news, rumors & conflicting information.” To determine prices, which is a cost that disappears when the influencer disappears.” For his part, the rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, stated that “the exchange rate of the Dollar against the Dinar will not stabilize as long as Iraq remains a country that does not have a productive apparatus, as the country depends for most of its needs on imports, which in turn depends mainly on the Dollar.”. He stressed that “this price will remain fluctuating and changing according to political events & the forces of supply and demand.” He pointed out that “this small change during these two days may be due to the attack on the American bases in Iraq, Syria & Jordan & the threat of the American side to carry out a military operation,” & added: “Therefore, the CBI & the government cannot control the stability of the ER if they do not resort to revitalizing the Iraqi economy & moving the apparatus.” “Productive.” For his part, economic affairs expert, Nabil Jabbar Al-Ali, pointed out that “there are now no major changes in ER that could affect the market & its desires.” He pointed out that “what is happening now in the local market falls within the framework of the natural fluctuation of prices & there is not a large percentage of rise & fall that can be pointed out, so I believe that the issue has not departed from the normal situation.” Experts believe that stabilizing the dollar exchange rate in Iraq requires: -revitalizing the Iraqi economy, -increasing production, -reducing dependence on imports & regional stability. From Other Sources: CBI: Sanctions On Al-Huda Bank Due To Its Activities In 2022. ARTICLE: The CBI revealed that the US Treasury Department has imposed sanctions on Al-Huda Bank of Iraq, attributing the reason to its activities in 2022. The CBI stated that the bank did not participate in the foreign currency buying & selling window during the year 2023, stressing that it continues to provide its banking services without dealing in USD & is allowed to deal in other foreign currencies. From Other Sources: Al-Sudani Stresses The Importance Of Completing The Procedures For Converting To Electronic Payment. ARTICLE: PM Muhammad Shiaa Al-Sudani directed, on Sunday, to expedite the procedures for switching to electronic payment, stressing that beneficiaries of electronic payment will not be burdened with any additional financial burdens or added commissions in daily transactions & simple regular payments. The Sudanese media office said in a statement received by Al-Maalouma that, “This Sunday morning, the PM chaired a meeting devoted to completing government procedures for switching to electronic payment, in the presence of the Governor of the CBI, the PM's advisors for strategic, economic & banking affairs & the Director General of Payments at the bank.” CBI & directors of a number of government banks. From Other Sources: The CBI Increases The Daily & Monthly Limits For Prepaid Cards (Document). ARTICLE: The CBI issued new instructions regarding prepaid cards, including raising the daily & monthly limits inside Iraq while keeping the same limits outside Iraq. Deputy Governor of the CBI, Ammar Khalaf, said, according to a document obtained by Shafaq News Agency, “The controls on prepaid card limits will be as follows: 1st: The limits & ceilings for prepaid cards. The maximum limit is (10) million Iraqi Dinars & the ceilings for monthly refilling of the card are (10) million Iraqi Dinars. It is the responsibility of banks & electronic payment service providers to refuse any refilling operations that exceed the maximum balance limit. 2nd: Local financial transactions inside Iraq. The ceiling for withdrawals via automated teller machine (ATM) machines inside Iraq is two million Dinars per day, or what is determined by the entity that owns the ATM, provided that it does not exceed the total monthly card balance & the limits for payment operations are through electronic payment gateways. Local online shopping & purchases through point-of-sale (POS) devices are included in the card’s monthly balance. Khalaf added, “Banks & electronic payment service providers have the freedom to set and set a financial ceiling for payment & purchase transactions made through the aforementioned channels, not to exceed the total monthly card ceiling.”