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yota691

Earthquake hits Iranian currency and hits record low

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Watch the auction drop tremendously if Iraq stop using US dollar with Iran in trading...the auction may also stop

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Here is the play in my opinion:  1.Auction drops in sales of US dollars. 2. Auction stops-------> THEN THE DINAR

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Document .. The Central Bank of Iraq prohibits dealing in dollars with Iran

Document .. The Central Bank of Iraq prohibits dealing in dollars with Iran



 Twilight News    
 one hour ago

The Central Bank of Iraq has decided to ban dealing with Iranian banks in US dollar currency after the United States announced the imposition of economic sanctions on Tehran.

The Central Bank, according to the document received by the Twilight News, a copy of it issued on 7/8/2018 option to deal in the euro currency to the requirements of the European Central Bank, and banks dealing in the last currency.

Prime Minister Haidar al-Abadi said on Tuesday that Iraq was not sympathetic to US sanctions against Iran, but would abide by it to protect its interests.

"In principle we are against sanctions in the region," Abbadi told a news conference. Siege and sanctions destroy communities and do not weaken regimes. "

"We consider it a fundamental, strategic and incorrect mistake, but we will abide by it to protect the interests of our people. We do not interact with them or sympathize with them, but we stick to them. "

US President Donald Trump pledged on Tuesday to prevent companies dealing with Tehran from carrying out activities in the United States as new US sanctions against Iran took effect.

The dispute between the United States and Iran, Iraq's two biggest allies, is growing and sanctions are putting the caretaker government led by Abbadi in a difficult position.

The sanctions, which took effect on Tuesday, are aimed at Iran's purchases of the US dollar, trade in metals and coal, software for industry and the automotive sector.

World oil prices rose on Tuesday on concern that sanctions would cut global supplies, although the strongest measures to target Iran's oil exports would not take place four months ago.

 

 
38864818_290530694861599_6010277577896230912_n.jpg
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Friday 10 August
 
   
 
Search Bigger
 
 
 
 
 

Alsumaria News / Baghdad
The Central Bank, the banks authorized all the "continuation" of the prohibition of dealing in dollars with Iranian banks. 

"It is decided to continue to ban the dollar deal with the branches of Iranian banks," the bank said in an official letter addressed to all licensed banks, and told Alsumaria News. 

"With regard to the euro, it is up to the requirements of dealing with the European Central Bank and European banks."

 


It is noteworthy that the new US sanctions on Iran came into force, since Tuesday (7 August 2018), despite appeals from allies of Washington , wrote Trump on Twitter : "This is the most sanctions at all, will arrive in November to the highest level.

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Cutting the oxygen of the Iranian regime... let's see how the daily auction drop.

 

Go Iraq

Go dinar

Go market value 

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Document .. The central bank directs Iraqi banks to ban dealing in dollars with Iran



 

1120172111333135755720.jpg


 

 

The media office of Prime Minister Haider Abadi, earlier in the day, that Iraq will be forced to give up the dollar in trade accounts with Iran, under US sanctions imposed on Tehran.

Prime Minister Haidar al-Abadi said on Tuesday (August 7, 2018) 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. 

US sanctions on Iran entered its first phase on Tuesday (August 7, 2018), while US President Donald Trump called sanctions on Iran "the harshest sanctions imposed so far" and will be escalated to a new level in November, Is cooperating commercially with Tehran by "losing its trade relations with the United States".

Image1_8201810203859146487551.png
Mg


https://www.thebaghdadpost.com/ar/Story/116877/%D9%88%D8%AB%D9%8A%D9%82%D8%A9-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D9%88%D8%AC%D9%87-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9-%D8%A8%D8%AD%D8%B8%D8%B1-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%85%D9%84-%D8%A8%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%85%D8%B9-%D8%A5%D9%8A%D8%B1%D8%A7%D9%86
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...and Turkey...This situation with the Lira has been coming for some time, thought it was going to be a a Greece-like situation.

 

Surprised Trump doubled down here, somethings's up.

 

https://www.bbc.co.uk/news/world-us-canada-45123607

 

President Donald Trump has doubled US tariffs on Turkish steel and aluminium, as the precipitous fall of the Turkish lira accelerates.

In a tweet, Mr Trump said the currency was weak against "our very strong dollar", adding that "US relations with Turkey are not good at this time".

Turkish President Recep Tayyip Erdogan said in a speech that the drop was part of a "campaign" led by foreign powers.

Turkey also warned it would retaliate against the US tariffs move.

"The United States should know that the only result that such sanctions and pressure will bring... will be harming our relationship as allies," the Turkish foreign ministry said in a statement.

The two Nato members are at odds on a range of issues - how to fight the Islamic State group, Ankara's plans to buy Russian missile defence systems and how to punish the alleged plotters of a failed coup in Turkey in 2016.

Most recently, President Trump issued sanctions on top Turkish officials over the ongoing detention of a US pastor who is facing terror and espionage charges in Turkey.

What is happening in Turkey?

In the past 24 hours, the lira has lost around 20% of its value. It had already fallen more than 40% in the past year.

In a televised speech on Friday, President Erdogan called on citizens to exchange foreign currency and gold for lira, calling it an "economic war".

"This is a domestic and national struggle," he said, as the lira continued to fall.

Mr Erdogan speaks to a crowdImage copyrightGETTY IMAGES Image captionMr Erdogan addressed the currency decline earlier on Friday

In a veiled attack on the US he added: "Some countries have engaged in behaviour that protects coup plotters and knows no laws or justice."

"Relations with countries who behave like this have reached a point beyond salvaging."

Skip Twitter post by @realDonaldTrump
 

I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!

 
 

End of Twitter post by @realDonaldTrump

Presentational white space

After he spoke, Mr Trump tweeted that aluminium tariffs "with respect to Turkey" would be raised to 20% and steel to 50%.

The reaction from global currency markets to the rift caused the euro to slump to a 13-month low and pushed the dollar to a one-year high.

Turks in Ankara examine the fluctuating exchange rate at a currency exchange shopImage copyrightGETTY IMAGES Image captionTurks in Ankara examine the fluctuating exchange rate at a currency exchange shop

The Turkish trade ministry responded that the additional tariffs were against the rules of the World Trade Organization.

"Turkey expects other member countries to abide by international rules," the ministry said in a statement, adding that the US remained an important trade partner.


The bazaar feels the squeeze

A man counts Turkish lira banknotesImage copyrightREUTERS

Analysis by Selin Girit, BBC News, Istanbul

It has been a dramatic day in Turkey but the Turkish government has put on a brave face.

President Erdogan said: "If they have dollars, we have our people, we have our right and we have Allah" - rhetoric that goes down well with his supporters but not necessarily with international markets.

Some will adhere his call to exchange their dollars, euros or gold for Turkish lira but many others have started feeling the squeeze.

Interest rate hikes, which Mr Erdogan sees as the mother of all evils, are not very likely to happen.

President Erdogan may seek help from the IMF, following the example of Argentina, but that is not likely either as it would have strings attached, and would be frowned upon in Turkey.

There is a feeling that the quickest and most efficient step could be to ease the tensions with Washington.


Shortly after Mr Trump's tweet, Mr Erdogan spoke on the phone with Russian President Vladimir Putin.

A statement from the Kremlin said the two leaders had discussed economic and trade ties.

Pastor Andrew Craig Brunson is escorted by Turkish plainclothes police officers as he arrives at his house in Izmir, Turkey, 25 July 2018Image copyrightGETTY IMAGES Image captionPastor Andrew Brunson was moved to house arrest last month due to health issues

Officials from Mr Erdogan's office said the two men had "expressed pleasure" that relations between Turkey and Russia were progressing "positively" amid joint defence and energy projects.

Why are US-Turkish relations strained?

Friday's developments are the latest manifestation of growing differences between the two sides on a number of issues.

Earlier this month, the White House hit Turkey's justice and interior ministers with sanctions over the country's ongoing detention of an American pastor.

Turkey is accusing Andrew Brunson - who operates a small church in Izmir - of having links to the outlawed Kurdistan Workers Party and the Gulenist movement, which Turkey blames for the failed coup.

He had been held in prison for almost two years, but was recently moved to house arrest due to health issues.

Turkish carpet-makers dry out their waresImage copyrightGETTY IMAGES Image captionTurkish carpet-makers dry out their wares

American evangelicals have rallied to his cause, triggering the recent reaction from the Trump White House.

Turkish officials have been in Washington this week for talks on his release but these seemed to fall apart in recent days.

Last month, Mr Trump took to Twitter to threaten sanctions on Turkey if Mr Brunson was not released.

Skip Twitter post 2 by @realDonaldTrump
 

The United States will impose large sanctions on Turkey for their long time detainment of Pastor Andrew Brunson, a great Christian, family man and wonderful human being. He is suffering greatly. This innocent man of faith should be released immediately!

 
 

End of Twitter post 2 by @realDonaldTrump

Presentational white space

The US has also been refusing to extradite Fethullah Gulen, a cleric and former Erdogan ally who has been living in the US state of Pennsylvania. Turkey accuses him of leading the attempted "Gulenist" coup.

In addition, Turkish politicians are furious at American military support for Kurdish militia fighting the so-called Islamic State in northern Syria.

Mr Trump's rejection of the Iran nuclear deal has also been a point of contention between the two nations.

Cleric Fethullah Gulen at Pennsylvania home, 10 Jul 17Image copyrightREUTERS Image captionTurkey has urged the US to extradite Muslim cleric Fethullah Gulen

Half of Turkey's oil imports come from Iran. Therefore the re-imposition of US sanctions against Iran has been seen by economists as likely to harm the Turkish economy.

Then there is the Incirlik Air Base, which Nato has used extensively in the fight against IS.

There has been some domestic pressure on Mr Erdogan to close the base, and last week a group of pro-government Turkish lawyers filed charges against US soldiers stationed there.

They request that a judge temporarily block all flights out of the base, and that arrest warrants be issued for the group of American officers, who they claim played a role in the coup attempt.

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3 hours ago, Laid Back said:

Cutting the oxygen of the Iranian regime... let's see how the daily auction drop.

 

Go Iraq

Go dinar

Go market value 

Iran will be like Death sucking on a life saver.  

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1 hour ago, ChuckFinley said:

Iran will be like Death sucking on a life saver.  

You got that right my friend. :twothumbs:

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7 hours ago, yota691 said:

The Central Bank, according to the document received by the Twilight News, a copy of it issued on 7/8/2018 option to deal in the euro currency to the requirements of the European Central Bank, and banks dealing in the last currency.

 

I think it is a VERY good idea for Iraq not to deal with Iran in Iraqi Dinars. Wouldn't want the Iranian purchase power to suddenly sky rocket with a RI/RVed Iraqi Dinar.

 

What is interesting is how this will work. Will the Iraqi Dinar be DIRECTLY converted to Euros? If so, some work around would possibly need to be in place otherwise converting Iraqi Dinar to Euros directly has "INTERNATIONAL" written all over it. Otherwise, the Iraqi Dinar would have to be converted first to USD at the European Central Bank and banks dealing in the currency before converting the USD to Euros for Iraqi purchases from Iran.

 

Conversely, if Iran needs to pay Iraq or another country, how is that going to work? The Iranians are going to use their international currency reserves to convert to Euros Then pay Euros for conversion to USD for the Iraqi purchases? Who would want currently worthless Iranian Rials? Would these Iranian Rials be held for future changes in value? If so, what would the mechanism be? Changing to another form like Toman or otherwise? The outlook looks dim for the Iranian Rial or Toman or other future Insanian currency.

 

Looks problematic for the Insanians at present but could bode well for us if the plan is to go from Iraqi Dinar directly to Euros since this would suggest Iraq is unshackled to convert to another currency and maybe more than just the Euro.

 

Just thinking out loud here..................................................

 

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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18 minutes ago, Synopsis said:

 

I think it is a VERY good idea for Iraq not to deal with Iran in Iraqi Dinars. Wouldn't want the Iranian purchase power to suddenly sky rocket with a RI/RVed Iraqi Dinar.

 

What is interesting is how this will work. Will the Iraqi Dinar be DIRECTLY converted to Euros? If so, some work around would possibly need to be in place otherwise converting Iraqi Dinar to Euros directly has "INTERNATIONAL" written all over it. Otherwise, the Iraqi Dinar would have to be converted first to USD at the European Central Bank and banks dealing in the currency before converting the USD to Euros for Iraqi purchases from Iran.

 

Conversely, if Iran needs to pay Iraq or another country, how is that going to work? The Iranians are going to use their international currency reserves to convert to Euros Then pay Euros for conversion to USD for the Iraqi purchases? Who would want currently worthless Iranian Rials? Would these Iranian Rials be held for future changes in value? If so, what would the mechanism be? Changing to another form like Toman or otherwise? The outlook looks dim for the Iranian Rial or Toman or other future Insanian currency.

 

Looks problematic for the Insanians at present but could bode well for us if the plan is to go from Iraqi Dinar directly to Euros since this would suggest Iraq is unshackled to convert to another currency and maybe more than just the Euro.

 

Just thinking out loud here..................................................

 

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

 

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

 

:rodeo:   :pirateship:

 

Good point Syn.  It could drain the Rial right out of Iran.  And then they would have to print new currency in the likes of 1 with 12 zeros since there own inflation is about to hit the roof.  If Iran has much Iraqi dinar then they should fork that over as fast as possible to pay their bills. If I was an Iraqi that has a bank account there I would close it like yesterday before Iran goes into a financial collapse, ala Greece, and all that money ends up in the Iranian governments hands if it is not already.

 

I am very impressed that Abadi and Iraq are putting on the big boy pants and cutting ties as fast as they can with Iran.  Now if they can only get every ounce of Iranian influence out of the country, close the borders to Iran, (I would say send Malarky and crew there but a trial and hanging is in order for them after they get all the stolen money back) and send notice that "We will not be Iran's whipping country any longer" then Iraq can stand on it's own.

 

SR

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11 hours ago, navira said:

Here is the play in my opinion:  1.Auction drops in sales of US dollars. 2. Auction stops-------> THEN THE DINAR

Yes wow..

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3 minutes ago, 6ly410 said:

Alright.. this is getting good 

I hear you. There is a ton of good news out today.  

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16 minutes ago, SupraRacer said:

 

Good point Syn.  It could drain the Rial right out of Iran.  And then they would have to print new currency in the likes of 1 with 12 zeros since there own inflation is about to hit the roof.  If Iran has much Iraqi dinar then they should fork that over as fast as possible to pay their bills. If I was an Iraqi that has a bank account there I would close it like yesterday before Iran goes into a financial collapse, ala Greece, and all that money ends up in the Iranian governments hands if it is not already.

 

I am very impressed that Abadi and Iraq are putting on the big boy pants and cutting ties as fast as they can with Iran.  Now if they can only get every ounce of Iranian influence out of the country, close the borders to Iran, (I would say send Malarky and crew there but a trial and hanging is in order for them after they get all the stolen money back) and send notice that "We will not be Iran's whipping country any longer" then Iraq can stand on it's own.

 

SR

 

I, too, think the Insanian Rial will spiral out of control to worthlessness!!! :backflip:       :backflip:       :backflip:

 

This could accelerate all the unrest in Iran and bring everything inside Iran to a collapse at the expense of the Mullahs VERY quickly. What could be in the works is a renegotiation of the JCPOA where all the IRGC and other Insanian militias will be called back IMMEDIATELY especially from Syria, Iraq, and Yemen. Iran has much, much more to lose by dragging their feet for the inevitable.

 

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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18 minutes ago, Synopsis said:

 

I, too, think the Insanian Rial will spiral out of control to worthlessness!!! :backflip:       :backflip:       :backflip:

 

This could accelerate all the unrest in Iran and bring everything inside Iran to a collapse at the expense of the Mullahs VERY quickly. What could be in the works is a renegotiation of the JCPOA where all the IRGC and other Insanian militias will be called back IMMEDIATELY especially from Syria, Iraq, and Yemen. Iran has much, much more to lose by dragging their feet for the inevitable.

 

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

 

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

 

:rodeo:   :pirateship:

Like Seria, where are the refugees  going to run, any bets? To Iraq first, then where the life is fine living, somewhere they give out free stuff, where they can protest and rape woman and children and the left will turn a blind eye, hmm.

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"Central Bank" is constantly directing banks to ban the dollar deal with Iran

"Central Bank" is constantly directing banks to ban the dollar deal with Iran
US President Donald Trump has withdrawn from the Iranian nuclear deal
 
 
 10 August 2018 08:57 PM

BAGHDAD - Directed by the Central Bank of Iraq banks continue to ban the dollar deal with Iranian banks.

The channel "Alsumaria News", on Friday, that the Iraqi Central confirmed the continuation of the prohibition of dealing in dollars with branches of Iranian banks in the circulation of all banks, according to the Middle East News Agency "AA".

The bank noted that in terms of the euro currency, it is up to the requirements of dealing with the European Central Bank and banks dealing with the euro.

It should be noted that the confirmation comes after the entry into force of economic sanctions on the regime in Tehran by the United States since Tuesday, after the decision of US President "Donald Trump" to withdraw from the Iranian nuclear agreement.

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With the collapse of the lira .. Erdogan and Putin discuss telephone economic relations

With the collapse of the lira .. Erdogan and Putin discuss telephone economic relations

 10 August 2018 08:16 PM
Live: Discuss Turkish President Recep Tayyip Erdogan and his Russian counterpart Vladimir Putin , relations between the two economies through a telephone call, according to a recent report, a move that coincides with the sharp losses in the local currency value of Ankara.

Erdogan said by telephone on Friday that these relations and contacts make Turkey stronger, the Associated Press quoted unnamed sources from within the office of the presidency.

He also praised the economic relations of Ankara with Moscow, explaining that about 6 million Russian tourists will visit Turkey this year.

The two presidents expressed their happiness that the economic and financial relations between the two countries are progressing positively as well as continued cooperation in the industrial and energy sectors.

The call comes between Putin and Erdogan following a US move by Donald Trump to double tariffs on Turkey for US steel and aluminum imports.

Tension has been strained over relations between the United States and Russia and Turkey, where both have been sanctioned for the first intervention in the presidential election, the poisoning of the Russian spy and the recent intransigence of the extradition of US priest Andrew Brunson.

 
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9342.jpg
 
  

 Banks


Economy News Baghdad:

The Central Bank of Iraq, authorized banks all the "continuation" of the prohibition of dealing in dollars with Iranian banks .

"It is decided to continue to ban the dollar deal with the branches of Iranian banks," the bank said in an official letter addressed to all authorized banks .

"With regard to the euro, it is up to the requirements of dealing with the European Central Bank and European banks."


Views 1933   Date Added 10/08/2018

 
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