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Iraq and Iran are on the threshold of an agreement for foreign currency


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 2020/07/21 07:48:19
 

Shafaq News / The Director of International Affairs of the Iranian Central Bank, Hamid Qanbari, revealed today, Tuesday, the conclusion of an agreement close to the foreign currency with Iraq.

Kanbari, who accompanied Foreign Minister Mohammed Javad Zarif on his visit to Baghdad (the day before yesterday Sunday), with the aim of conducting banking negotiations with the Iraqi side, said that the negotiations were useful and constructive between the two sides, and the final stage of the Iraqi Prime Minister and his accompanying delegation will reach Tehran today Tuesday.

Qanbir predicted, in an interview published by Iranian media, "In the event that this happens, a remarkable foreign cash will flow into the market, amounting to several billion, as it would cover a large part of the currency demand through it."

The Central Bank of Iran and its Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year.

Kanbari pointed out that the negotiations yesterday, Sunday, are an extension of the memorandum concluded, and that the visit of the Central Governor Abdel Nasser Hemati to Iraq last month comes in the same framework.

Iraqi Prime Minister Mustafa Al-Kazemi arrived today, Tuesday, in the Iranian capital, Tehran, for a two-day official visit at the head of a high-ranking government delegation.

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Tue, 21 Jul 2020 12:15:30
 
 
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 The Director of International Affairs of the Iranian Central Bank, Hamid Kanbari, revealed, today, Tuesday, the conclusion of an agreement on foreign currency with Iraq.

Kanbari, who accompanied Foreign Minister Mohammed Javad Zarif on his visit to Baghdad (the day before yesterday Sunday), with the aim of conducting banking negotiations with the Iraqi side, said that the negotiations were useful and constructive between the two sides, and the final stage of the Iraqi Prime Minister and his accompanying delegation will reach Tehran today Tuesday.

Qanbir predicted, in an interview published by Iranian media, "In the event that this happens, a remarkable foreign cash will flow into the market, amounting to several billion, as it would cover a large part of the currency demand through it."

The Central Bank of Iran and its Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year.

Kanbari pointed out that the negotiations yesterday, Sunday, are an extension of the memorandum concluded, and that the visit of the Central Governor Abdel Nasser Hemati to Iraq last month comes in the same framework.

Iraqi Prime Minister Mustafa Al-Kazemi arrived today, Tuesday, in the Iranian capital, Tehran, for a two-day official visit at the head of a high-ranking government delegation.

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The Director of International Affairs of the Iranian Central Bank, Hamid Kanbari, has announced that it is close to reaching an agreement regarding foreign currency between Iran and Iraq.

Kanbari said, who accompanied the Iranian foreign minister Muhammad Jawad ZarifOn his visit toBaghdad Last Sunday with the aim of conducting banking negotiations with the Iraqi side, "the discussions were useful and constructive between the two sides, and the final stage of the Iraqi Prime Minister and his accompanying delegation will reach Tehran today is Tuesday".
 
 
He added, "In the event that this is achieved, it is expected that a significant foreign exchange will flow into the (local) market, amounting to several billion, which will cover a large part of the demand for foreign currency."
 
And it was Iranian Central Bank And his Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year, between Qanbari, that the negotiations of the day before yesterday come as an extension of the memorandum concluded, and that the visit of the Iranian central governor, Abdul Nasser Hamti to Iraq last month, comes in the same framework.
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Information / Baghdad ..
Director of International Affairs of the Iranian Central Bank, Hamid Qanbari, announced that it is close to reaching an agreement regarding the foreign currency between Iran and Iraq.
“Hamid Kanbari” - who accompanied Foreign Minister Mohammed Javad Zarif on his visit to Baghdad the day before yesterday with the aim of conducting banking negotiations with the Iraqi side - stated that the negotiations were useful and constructive between the two sides, and the final stage of the Iraqi Prime Minister and his accompanying delegation will reach Tehran today, Tuesday. .
He added that in the event it is due, it is expected that a significant foreign exchange will flow into the market, amounting to several billion, as it would cover a large part of the currency's demand through it.
The Central Bank of Iran and its Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year. "Qanbari" indicated that negotiations on the day before yesterday, Sunday, are an extension of the memorandum concluded, and that the visit of the central governor, Nasser Nasser, to my country last month, comes in the same framework. End of 25

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Follow-up / National News Center-

The Director of International Affairs of the Iranian Central Bank, Hamid Kanbari, revealed today, Tuesday, that an agreement regarding foreign currency is close to reaching an agreement with Iraq.
Kanbari, who accompanied Foreign Minister Mohammed Javad Zarif on his visit to Baghdad (the day before yesterday Sunday), with the aim of conducting banking negotiations with the Iraqi side, said that the negotiations were useful and constructive between the two sides, and the final stage of the Iraqi Prime Minister and his accompanying delegation will reach Tehran today Tuesday.
Qanbir predicted, in an interview published by Iranian media, "If this happens, a significant foreign cash flow to the market will reach several billion, as it would cover a large part of the currency's demand through it."
The Central Bank of Iran and its Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year.
Kanbari pointed out that the negotiations yesterday, Sunday, are an extension of the memorandum concluded, and that the visit of the Central Governor Abdel Nasser Hemati to Iraq last month comes in the same framework.

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The Independent .. Director of International Affairs of the Iranian Central Bank, Hamid Kanbari, announced that it is close to reaching an agreement regarding foreign currency between Iran and Iraq.

The official, who accompanied Iranian Foreign Minister Mohammad Javad Zarif on his visit to Baghdad last Sunday with the aim of conducting banking negotiations with the Iraqi side, said that the discussions were useful and constructive between the two sides, and the final stage of the Iraqi Prime Minister and his accompanying delegation will arrive in Tehran today, Tuesday.

He added that in the event that it is achieved, it is expected that a significant foreign exchange will flow to the (local) market, amounting to several billion, which will contribute to covering a large part of the demand for foreign currency.

The Central Bank of Iran and its Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year, between Qanbari, that the negotiations of the day before yesterday come as an extension of the memorandum concluded, and that the visit of the Iranian Central Bank Governor Abdel Nasser Hemati to Iraq last month comes in the same framework.

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(Independent) ... The Director of International Affairs of the Iranian Central Bank, Hamid Kanbari, revealed that an agreement regarding foreign currency is close to reaching an agreement with Iraq.

Kanbari said that the negotiations were beneficial and constructive between the two sides, and will reach the final stage in the visit of the Iraqi Prime Minister and his accompanying delegation to Tehran today.

Qanbir predicted, in an interview published by Iranian media, "If this happens, a significant foreign cash flow to the market will reach several billion, as it would cover a large part of the currency's demand through it."

Kanbari pointed out that the negotiations yesterday, Sunday, are an extension of the memorandum concluded, and that the visit of the Central Governor Abdel Nasser Hemati to Iraq last month comes in the same framework.

The Central Bank of Iran and its Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year.

Iraqi Prime Minister Mustafa Al-Kazemi arrived today, Tuesday, in the Iranian capital, Tehran, for a two-day official visit at the head of a high-ranking government delegation. (End)

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Good Morning yota,

 

Thanks for the articles, this is interesting because what currency are they referring to when they say, If this happens, a significant foreign cash flow to the market will reach several billion

 

Knowing the Iranian currency is about worthless, I'm curious what kind of agreements they've come up with...

 

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  Irial is worth .00024 to the dollar ,or approximately $42000 to the dollar . The rial is virtually worthless . What if they decide to knock off  a couple of zeros ? It would still be worthless . 

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WASHINGTON/NEWYORK (Thomson Reuters Regulatory Intelligence) - The United States on Monday reactivated its most biting sanctions on Iran, prohibiting and penalizing business with Iran's energy, shipping, and financial services sectors, as well as other activities. The move follows the United States' unilateral withdrawal in May(here) from the Joint Comprehensive Plan of Action (JCPOA), also known as the Iran Nuclear Deal.

 

Additionally, the U.S. has threatened sanctions against SWIFT, the Belgium-based global payments messaging service, at the urging of Iran sanctions hawks in Congress and among Washington lobbyists. The purpose of U.S. sanctions against SWIFT is to pressure it to exclude Iranian financial institutions from its platform, thereby blocking Iran from a key international banking access point. Accordingly, SWIFT announced on November 5(here) its suspension of "certain Iranian banks" from its messaging system, "in the interest of the stability and integrity of the wider global financial system".

Edited by danielchu
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I did read some where that the US would refrain from sanctions against iraq for 120 day to allow them to continue to buy electricity from Iran. 

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