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Central Bank of Iran: We can not provide hard currency


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. . . an Easy Button for them!    Evening NEP -  Not sure if that would do any good, however, its a sound idea.   Pretty sure they'd argue over where to place it, create a cri

Maybe Farrahkan should move to Iran! 

Sadly, if you put all the information together from the last few weeks it sure seems that is the direction that we're headed. And is it really so difficult to believe, nearly every single nation in th

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On 8/25/2018 at 12:21 AM, yota691 said:

The Iranian strategy is to inject a large, counterfeit Iraqi currency into Iraqi markets and push for increased demand for the US dollar by local traders.

 

The maths is quite obvious,

~>No dollars on the street of Iraq, no counterfeit Iraqi dinar from Iran~ therefore no smuggling of USD to Tehran.

If it is that obvious to us, it wld be even most obvious to CBI and Abadi.

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7 hours ago, DinarThug said:

 

Rouhani’s A Burqa Wearing Little Girly Man ! :o 

 

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:D  :D  :D 

 

Don’t Worry - We’ve Totally Got This ! :o 

 

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:D  :D  :D 

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decline of the Toman after a spiritual accountability session in parliament

The Toman fell after a spiritual accountability session in parliament
 
 Twilight News    
 
 one hour ago
 
 

(Reuters) - The Iranian riyals declined on Tuesday after a meeting of Iranian President Hassan Rowhani in the Islamic Majlis (parliament) because of the deteriorating economic situation in the country.

The exchange rate of the dollar in the parallel market in Tehran on Tuesday afternoon 11100 Iranian riyals, after it was at 10750 riyals on Monday, according to data from the site, "Bonbast.com," which follows the informal market in Iran.

He defended the Iranian president in a meeting in front of parliament today, the administration of his government and linking the economic problems experienced by the country, the United States to impose sanctions on Iran, and pointed out that the collapse of the national currency was for external reasons, political and psychological, not internal economic.

http://www.shafaaq.com/ar/Ar_NewsReader/094f7cde-2d0f-48d1-a92c-77015925e941

 
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Millions of dollars Iraqi businessmen are held in Iran

By Rudao one hour ago
Iran is a major exporter of goods and goods imported in southern and central Iraq. These goods are not limited to food and daily consumption needs but extend to water and electricity services
Iran is a major exporter of goods and goods imported in southern and central Iraq. These goods are not limited to food and daily consumption needs but extend to water and electricity services

Roudao- Erbil 

decided to Iraqi investors in the real estate sector, Hussein al - Kaabi, in 2015 , with the intensification Daesh attacks and the decline of the Iraqi real estate market, the deposit of 150 thousand dollars in an Iranian bank. That bank would then pay a 20% interest. Now, the verse has turned upside down and the Iraqi real estate market has recovered. It is no longer a threatening threat as it was, and the re-imposition of US sanctions on Iran has left the latter in a financial crisis. 


In an interview with the Washington Post, al-Kaabi attributed the whole problem to the policies of the White House, and said that the decline in the financial situation of the Iranian banks also led to the deterioration of its financial position. 

The case of al-Kaabi and hundreds of other Iraqi investors shows that US sanctions and the Iraqi government's commitment to them are not just a political problem between America, Iraq and Iran, but affect the everyday lives of ordinary citizens.

Nazem al-Khafaji, the owner of a 60-year-old hotel in Najaf, points the finger at the Iranian government. "I blame the Iranian government because it played the dirty game," he said. Khafaji had deposited $ 100,000 In an Iranian state bank since April 2015, but now it is clear that he has lost half the amount. 

In an interview with the American newspaper, the Iraqi economist, Bassem Jameel Antoine, pointed out that Iraqi investors also bear some responsibility for the problem. "I knew there was a trick. There is no bank interest anywhere in the world at 20%. Interest rate is only 4%. "

According to the Washington Post, Iranian banks have not sought to attract Iraqi funds through public announcements and announcements. They have also propagated rumors through Iranian religious visits to Iraq, with the aim of convincing Iraqis to deposit their money with those banks. 

The 48-year-old Iraqi trader, Abdulrahman Schnayor, admits he had to question the conditions imposed by Iranian banks, but the high interest rate was the one he had been snubbed. He had deposited $ 110,000 in an Iranian bank, The dollar to the Iranian riyal, and not to withdraw any part of it during the first year following the opening of the account, and after that year allowed to draw but in Iranian currency and not in dollars.

"The sin is my sin, but this is the case of trade, sometimes winning and sometimes losing. We thought that the exchange rate of the Iranian riyal would remain constant," says Schneier. The Iranian bank imposes very difficult conditions on people who want to recover their money, including that a person can withdraw only two hundred dollars per day. 

Iran is a major source of goods and goods imported in southern and central Iraq. These goods are not limited to food and daily consumption needs, but extend to water and electricity services. In addition, religious tourists are a major source of revenue for the Baghdad government and the re-imposition of US sanctions on Iran is a major blow to the Iraqi tourism sector.

Three months ago, Jalal Hashim had to close his tourist company in Iran. For ten years he had been attracted to Iranian Shi'a tourists to visit the shrines of Najaf, Karbala and Samarra. Hashim said the fall in the riyal against the dollar had led to a significant drop in the number of tourists. 

"Two years ago every Iranian tourist had to pay $ 500 (to visit Iraq). That was equivalent to two million Iranian riyals, but now he has to pay five million riyals, which is huge in the light of Iran's economic inflation," Hashim told Almonitor.

According to Hashim, the Iraqi tourism sector suffers from a complete recession because "95% of tourists are religious tourists, and there were five million Iranians in Iraq in previous years, but the high rate of poverty in Iran led to a decline in this number," and this caused great damage to owners Hotels "and hear from many hotel owners that they intend to close their hotels, after they dismissed the workers because they are no longer able to pay their salaries.

The Baghdad government fears that its full compliance with the sanctions imposed on Iran will lead to the Iraqi markets experiencing a severe shortage of goods. According to the Washington Post report that the Iraqi government intends to send a delegation to Washington, but the date of the visit to the White House has not yet been determined, The Iraqi government is considering a range of other options, including the commercial dealings with Iran in the euro currency.

http://www.rudaw.net/arabic/middleeast/iraq/2908201811

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  • yota691 changed the title to Dealing with the US dollar in trade exchange between Iraq and Iran
 
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Follow - up / Tomorrow Press: 

announced the Iraqi head of Iran 's Chamber of Commerce Yahya Al - Ishaq, on Saturday, cancel the deal in US dollars in trade between Iran and Iraq, and replacing it with the euro and the currencies Iranian Rial Iraqi Dinar.

"The dollar exchange between Iran and Iraq has been canceled, and most exchanges will be in the currencies of the euro, the Iranian riyal and the Iraqi dinar," Ishaq told Iran's Mehr news agency. 

He added that "another part of the exchange between Iranian exporters and Iraqi traders will be in accordance with the exchange of goods or in a consensual manner." 

"With 8 billion dollars in trade volume between Iran and Iraq, the volume of money transfer between the two countries is very low through banks," he said. 

He pointed out the obstacles to the establishment of a joint Iranian-Iraqi bank, saying that "solving banking issues should be the main priorities of the Iranian economy because at the worst conditions we have a trade exchange with Iraq worth 8 billion dollars."

"Iraq is Iran's second largest trade partner after China," he said. "Iran's exports to Iraq are very different from exports to China, because most of Iran's exports to China are made up of petrochemical products, while Iranian traders export various products to Iraq Tomato paste to construction materials, which contributes to the provision of many jobs. "
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Iraq and Iran give up the dollar by trading

aljournal September 1, 2018

2592338-620x330.jpg

Journal News

 

The head of Iran-Iraq Chamber of Commerce Yahya al-Ishaq said on Saturday that US dollar transactions in Iran and Iraq should be canceled and replaced by the euro, the Iranian riyal and the Iraqi dinar.

 

“The dollar deal between Iran and Iraq has been canceled and most exchanges will be in the euro, the Iranian riyal and the Iraqi dinar,” Al Ishaq said. According to the agency “Mehr” Iranian.

 

He added that “another part of the exchange between Iranian exporters and Iraqi traders will be in accordance with the exchange of goods or in a consensual manner.”

 

“With 8 billion dollars in trade volume between Iran and Iraq, the volume of money transfer between the two countries is very low through banks,” he said.

 

He pointed out the obstacles to the establishment of a joint Iranian-Iraqi bank, saying that “solving banking issues should be the main priorities of the Iranian economy because at the worst conditions we have a trade exchange with Iraq worth 8 billion dollars.”

“Iraq is Iran’s second largest trade partner after China,” he said. “Iran’s exports to Iraq are very different from exports to China, because most of Iran’s exports to China are made up of petrochemical products, while Iranian traders export various products to Iraq Tomato paste to construction materials, which contributes to the provision of many job

 

http://www.aljournal.com/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%88%D8%A7%D9%8A%D8%B1%D8%A7%D9%86-%D9%8A%D8%B3%D8%AA%D8%BA%D9%86%D9%8A%D8%A7%D9%86-%D8%B9%D9%86-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A8%D8%A7%D9%84/

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 money and business


Economy News _ Baghdad

President of the Iranian Chamber of Commerce of Iraq Yahya Al-Ishaq announced the suspension of the US dollar deal between the two countries in terms of trade exchanges between the two countries. 
"The dollar will be replaced by other currencies such as the euro, the Iranian riyal and the Iraqi dinar," he said. 
The head of the Iranian-Iraqi Chamber of Commerce said in an interview with the Iranian newspaper Mehr that "most trade exchanges will be made in alternative currencies." "Another part of the trade between the Iranian exporters and the Iraqi merchants will be the trade- Or consensual forms between the parties. " 
He said that "the volume of transfer of funds between Baghdad and Tehran through banks, very few, despite the existence of transactions between the two countries worth 8 billion dollars."

"The resolution of banking issues between the two countries should be one of the priorities of the main Iranian economy, in order to remove obstacles to the establishment of a joint Iranian-Iraqi bank," Yahya al-Ishaq said. 
"Iraq is Iran's second largest trade partner after China," he said, adding that "Iran's exports to Iraq are very different from Iranian exports to China."


Number of Views 28   Date Added 02/09/2018

 
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  • yota691 changed the title to Iraq and Iran give up the dollar by trading
02-09-2018 02:15 PM
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The head of the Iranian-Iraqi Chamber of Commerce Yahia Al-Ishaq announced the suspension of the dollar exchange between the two countries in terms of trade exchanges between the two countries. 

The dollar will be replaced by other currencies such as the euro, the Iranian riyal and the Iraqi dinar, the Mehr news agency reported. 

"Most of the trade exchanges will take place in alternative currencies," the head of the Iranian-Iraqi Chamber of Commerce said. "Another part of the trade between Iranian exporters and Iraqi traders will be through a trade-off system or by consensual forms between the parties." 

He said that 'the volume of transfer of funds between Baghdad and Tehran through banks very few, despite the existence of transactions between the two countries worth 8 billion dollars.'

Yahya al-Ishaq pointed out that "solving banking issues between the two countries should be one of the priorities of the main Iranian economy, in order to remove obstacles to the establishment of a joint Iranian-Iraqi bank." 

"Iraq is Iran's second largest trading partner after China," he said. "Iran's exports to Iraq are very different from Iranian exports to China." 

Iraqi Prime Minister Haider al-Abbadi said in August that Baghdad rejects any economic sanctions against any country, especially neighboring countries, while stressing Iraq's commitment not to deal with the US dollar with Iran. 

Washington has imposed sanctions against Iran in several areas, including bank transfers in US currency, metals, aluminum, steel, etc., while energy and oil will be in November.

The United States withdrew from the nuclear deal with Iran last May, announcing the resumption of severe economic sanctions against Tehran, while the local Iranian currency has seen a significant devaluation of its value against foreign currencies. 

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abolition of the dollar in the trade exchange between Iran and Iraq

The abolition of the dollar in trade between Iran and Iraq
 
 Twilight News    
 
 3 hours ago
 
 

- The head of Iran-Iraq Chamber of Commerce Yehia Al-Ishaq said on Sunday that the currency of the dollar has been canceled in trade between Iran and Iraq and will be replaced by the euro, the Iranian riyal and the Iraqi dinar.

The dollar deal between Iran and Iraq has been canceled and most of the exchanges will be in the euro, the Iranian riyal and the Iraqi dinar, Mehr news agency quoted Al Ishaq as saying.

He added that another part of the exchange between Iranian exporters and Iraqi traders will be in accordance with the exchange of goods or in a consensual manner.

"With 8 billion dollars in trade volume between Iran and Iraq, the volume of money transfer between the two countries is very little through banks," he said.

"Solving banking issues should be the main priorities of the Iranian economy, because at the worst of times we have a $ 8 billion trade exchange with Iraq," he said of the obstacles to the establishment of a joint Iranian-Iraqi bank.

"Iran's exports to Iraq are very different from exports to China, because most of Iran's exports to China are made up of petrochemical products, while Iranian traders export various products from tomato paste to Iraq," he said, referring to Iraq's second largest trading partner after China. To the construction materials, which contributes to the provision of many jobs. "

 
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Iran is canceling the dollar in its trade with Iraq

Iran is canceling the dollar in its trade with Iraq

 

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02/09/2018

Tehran

The head of Iran-Iraq Chamber of Commerce Yahya al-Ishaq said on Sunday that the dollar had been canceled in trade between Iran and Iraq and would be replaced by the euro, the Iranian riyal and the Iraqi dinar .

"The dollar exchange between Iran and Iraq has been canceled and most exchanges will be in the euro, the Iranian riyal and the Iraqi dinar," he said, adding that another part of the trade between Iranian exporters and Iraqi traders would be in exchange for goods or in a consensual manner.

"With 8 billion dollars in trade volume between Iran and Iraq, the volume of money transfers between the two countries is very low through banks .

He pointed to the obstacles to the establishment of a joint Iranian-Iraqi bank, saying that solving banking issues should be the main priorities of the Iranian economy, because at the worst of circumstances we have a trade exchange with Iraq worth 8 billion dollars .

"Iran's exports to Iraq are very different from exports to China, because most of Iran's exports to China are made up of petrochemical products, while Iranian traders export various products of tomato paste to Iraq," he said. To the construction materials, which contributes to the provision of many jobs.

ZM

http://aletejahtv.com/archives/250891

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Thanks Yota/Butifldrm....This in my opinion plays right into our foreign strategic policy of distancing our trade policies and reinforcing the international sanction put upon Iran...jmho

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2 hours ago, justchecking123 said:

Iraq has a big opening to exert their economic independence here. If the report is legitimate, Iraq can tell Iran they're siding with the US and leverage the dollar to their economic advantage. 

 

I say Abadi, Alaq and company won't man up...love to be proven wrong here.

 

2 hours ago, skeetdog said:

Thanks Yota/Butifldrm....This in my opinion plays right into our foreign strategic policy of distancing our trade policies and reinforcing the international sanction put upon Iran...jmho

Add this to what the EURO is going to do with the missiles from Iran now moving to Iraq will get interesting.  

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US dollar completely ditched in trade between Iran & Iraq – official

Published time: 2 Sep, 2018 15:16 
US dollar completely ditched in trade between Iran & Iraq – official
© Martin Poole / Global Look Press 
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The US dollar is no longer used by Tehran and Baghdad in bilateral trade, giving way to the euro and local currencies, as well as direct barter of goods, head of the Iran-Iraq Chamber of Commerce Yahya Ale-Eshagh has revealed.

“[The] US dollar has been removed from the list of currencies used by Iran and Iraq in their trade transactions and they are using Iranian rial, euro and Iraqi dinar for financial transactions,”Ale-Eshagh said on Saturday, as quoted by local media.

Apart from switching from the US dollar to alternative currencies, Iranian and Iraqi merchants have been engaging in barter operations, according to the official. The banking system, however, still needs improvements, since only a fraction of trade between the two countries actually goes through banks.

“Resolving the banking system problem must be a priority for both Iran and Iraq, as the two countries have at least $8 billion in transactions in the worst times,” Ale-Eshagh stated.

Iraq is the second country after China in terms of trade volume with Iran, according to the official. While exports to China are almost exclusively petrochemical products, Baghdad purchases a large variety of Iranian goods, helping to maintain high employment rates, Ale-Eshagh explained.

The official was answering a question on how unilateral sanctions, imposed on Tehran by the US, affected trade between the two countries. Washington withdrew from the landmark 2015 nuclear deal back in May, and is re-imposing restrictions on Iran. It has also threatened secondary sanctions on any country that continues to purchase oil from Iran, vowing to bring Tehran’s revenue from it to “zero.” The sanctions on the country’s oil sector are expected to take effect in November, but Iranian crude exports have already plummeted.

READ MORE: Can US bring Iranian oil exports to zero?

The renewed US sanctions have already sent the country’s national currency into a downward spiral, as well as forcing many European businesses to leave Iran. Tehran has repeatedly criticized the inability of the European signees of the 2015 deal to stand up to the US, threatening to abandon the agreement. While the EU countries have said they would still stick to the deal, renewed US restrictions forced such major companies as Germany’s Daimler and Siemens, as well as France’s Total, Peugeot, and Renault, to suspend their operations in Iran.

https://www.rt.com/business/437446-iran-iraq-us-dollar-ditched/

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I believe the US underestimated or did not know the fact that Iran owns Iraq. They are one country or that is how Iran is telling the world. After all the US and other countries have done for Iraq, It allows Iran to own in and control it.

 

It may be time to pull everything out of the ME. Let them kill each other.

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12 hours ago, markb57 said:

I believe the US underestimated or did not know the fact that Iran owns Iraq. They are one country or that is how Iran is telling the world. After all the US and other countries have done for Iraq, It allows Iran to own in and control it.

 

It may be time to pull everything out of the ME. Let them kill each other.

I think it’s about time Iran got some freedom!!!!!

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