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CBI News 10/18/2020

The Central Bank comments on the comments to reduce the price of the dinar against the dollar

The Central Bank comments on the comments to reduce the price of the dinar against the dollar

 

The Central Bank of Iraq confirms that the statements that have spread recently regarding (reducing the exchange rate of the Iraqi dinar against the dollar)

 

represent the viewpoint of those who stated it and do not represent the official position of the Central Bank, and this was accompanied by a number of rumors launched by speculators, which affected the price (temporarily).


This bank declares that the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent. Note that its foreign currency reserves are "very good" according to all international indicators, in a way that enables it to overcome the current crisis that the country is going through.
This bank hopes that the media will rely exclusively on the sources of the Central Bank in this regard.
 
The Central Bank of Iraq
   Media Office
October 18, 2020

Edited by DWS112
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42 minutes ago, DWS112 said:

CBI News 10/18/2020

The Central Bank comments on the comments to reduce the price of the dinar against the dollar

The Central Bank comments on the comments to reduce the price of the dinar against the dollar

 

The Central Bank of Iraq confirms that the statements that have spread recently regarding (reducing the exchange rate of the Iraqi dinar against the dollar)

 

represent the viewpoint of those who stated it and do not represent the official position of the Central Bank, and this was accompanied by a number of rumors launched by speculators, which affected the price (temporarily).


This bank declares that the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent. Note that its foreign currency reserves are "very good" according to all international indicators, in a way that enables it to overcome the current crisis that the country is going through.
This bank hopes that the media will rely exclusively on the sources of the Central Bank in this regard.
 
The Central Bank of Iraq
   Media Office
October 18, 2020


Shabibi always said he didn’t want any speculation on this currency!

BOOM💥💥💥

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148586.jpg.b24de153d2a60198ca3bfa46924328f2.jpg2020/10/18 11:47
 

Central Bank: The dollar’s exchange rate is fixed and our foreign currency reserves are good

https://almasalah.com/ar/news/199238/البنك-المركزي-سعر-صرف-الدولار-ثابت-واحتياطياتنا-من-العملة-الأجنبية-جيدة

 

Baghdad / Obelisk: The Central Bank confirmed, Sunday, October 18, 2020, that the exchange rate of the dollar against the Iraqi dinar is fixed and has not changed, indicating that its foreign currency reserves are very good and enable it to overcome the current crisis that the country is going through.

The bank said in a statement received by the "obelisk" that the statements that have spread recently regarding the reduction of the Iraqi dinar exchange rate against the dollar represent the viewpoint of those who stated it and do not represent the official position of the Central Bank. This was accompanied by a number of rumors launched by speculators, which temporarily affected the price. .

He added that the exchange rate is fixed and has not changed, and that its monetary policy is clear and transparent, noting that its foreign currency reserves are very good according to all international indicators and in a way that enables it to overcome the current crisis that the country is going through.

The Central Bank called on the media to exclusively approve the sources of the Central Bank in this regard.

Obelisk

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Al-Emaar announces the implementation of the tests for the new Central Bank of Iraq building project

Sunday, 18 October 2020 7:17 PM
Category:  Economy and Business
Al-Emaar announces the implementation of the tests for the new Central Bank of Iraq building project

Baghdad / National News Center -

The Ministry of Construction, Housing and Public Municipalities, through the Building Research Department, one of the Ministry’s formations, continues to carry out checks for the new Iraqi Central Bank building in Baghdad.

The media center explained that tests are being conducted for evaluating concrete with high resistance and durability used in construction, tests for measuring the permeability of chloride ion through concrete and the amount of water permeability for concrete under high pressure, as well as examining the compressive strength of concrete models and evaluating the pozzolanic additives that give concrete an increase in resistance and durability.

It is noteworthy that the project is the first building designed by the late Iraqi architect Zaha Hadid to be constructed in the capital, Baghdad, on an area of 19,000 square meters and consists of 37 floors and a height of 172 meters, and its features began to rise to adorn the banks of the Tigris River.

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Economist: The government's white paper is behind the dollar's rise

 
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Information / Special ...

The economic expert, Ahmed Jassim, confirmed, on Sunday, that the white paper presented by the government is behind the rise in the exchange rates of the dollar, expecting the rates of increase to increase unless the Central Bank addresses the matter.

"The white paper put forward by the government indicated a decrease in the reserves of the Central Bank, which discusses the Central Bank statement issued today," Jassim told Al-Maaloumah.

He added that "the white paper included reducing salaries and adopting austerity in monetary policy," noting that "the matter raised the concerns of traders and capital owners and pushed them to withdraw hard currency from the market, which led to its rise."

Jassim explained that "the solution can be bypassed with simple steps through the central injection of the dollar currency to the market more than demand, to restore stability in its price within the normal rates," noting that "failure to implement this step will push the dollar to a further rise

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Parliamentary Finance identifies 3 reasons for the dollar's rise

 
%D8%AF%D9%88%D9%84%D8%A7%D8%B1-3-696x435

Information / Special ...

On Sunday, a member of the Parliamentary Finance Committee, Sherwan Mirza, identified 3 main reasons behind the high exchange rate of the US dollar against the Iraqi dinar in recent days.

Mirza said to "the information", that "the exchange rate of the US dollar against the Iraqi dinar has witnessed a remarkable rise in the markets in recent days," pointing out that "there are three main reasons. The first is currency dealers speculation, accompanied by multiple rumors, in addition to the Central Bank’s endeavor to classify banks." And banking offices, in addition to a third reason, the most important of which is the central bank’s refusal to sell the US dollar.

Mirza added, "The dollar exchange policy is controlled by the Central Bank of Iraq as the other is an independent institution."

The exchange rate of the US dollar against the Iraqi dinar has witnessed a remarkable rise in the past 3 days, amid a state of concern that it will be the beginning of a higher rise, which affects the prices of basic materials. Finished 25 F

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1597650563469.jpg
 

Speculations and ill-considered measures ... a "black fate" awaits the Iraqi dinar

  •  
 2020-10-18 13:18
 

 

https://shafaq.com/ar/تقارير-وتحليلات/الورقة-البيضا-تضع-الدينار-العراقي-مام-مصير-سود

Shafaq News / It seems that hunstable security situation in Iraq and the statements of the Ministry of Finance regarding the difficulty of providing salaries for employees have cast a shadow on the dollar exchange rate, which has witnessed over the past two days wide jumps in its price against the Iraqi dinar.

Today, Saturday (October 17, 2020), the Central Kifah Stock Exchange in Baghdad recorded a price of 125,700 Iraqi dinars compared to 100 US dollars, while Al-Harithiya Stock Exchange in Baghdad recorded 125,700 dinars against 100 dollars.

Last Thursday, the Central Kifah Stock Exchange in Baghdad recorded 124,400 Iraqi dinars against 100 US dollars.

Financial experts and economists attributed this rise to the statements made by some officials that the exchange rates of the dollar should be raised in the 2021 budget, while speculators took advantage of these statements and deliberately raised the dollar exchange rate.

 

Continuous rise of the dollar

A professor of political economy at the Iraqi University, Abdul Rahman Al-Mashhadani, said in an interview with Shafaq News that "the price of the dollar will continue to rise in light of the current unexamined policies and procedures," noting that "the dollar is controlled by the Central Bank through the currency auction in normal circumstances."

He continues, "The panic and horror of the situation and the statements of the Minister of Finance about the salaries of employees and the statements of other officials regarding the need to change the exchange rate in the next budget law, have greatly affected the exchange rate through the citizen’s tendency to buy dollars, especially if we know that 77% of the funds are hoarded. The general public is at home, and therefore people will resort to the dollar in light of the economic and security crises, which is the safe option for all other currencies. "

 

Exploiting the chaos

"Speculation continues, and all conditions are favorable for concluding various deals," in this way, the financial expert and member of the Board of Directors of the Central Bank, Majid Al-Suri, sees the situation in the Iraqi currency market.

The reasons for this are shown in an interview with Shafaq News Agency that "the Central Bank of Iraq did not pump money today, Saturday and Friday, through the auction, and therefore speculators took advantage of the lack of supply and exploited the media chaos in general, whether by the government or by some politicians that demanded the need to reduce the value." The Iraqi dinar is to solve the value of salaries. "

Al-Suri confirms that "the reduction in the value of the dinar can be implemented, but in a more bitter way than the largest devaluation or any other measure." Multiplier plays its role with the issue. "

He pointed out that "what is being presented now is one of the dangerous things for the Iraqi people, as the monetary inflation will lead to more impoverishment not only for the working class, but for all groups of Iraqi society."

He pointed out that "the correct procedure is to reduce operating expenses, in particular, and to reduce the salaries and allowances of officials in the Iraqi state from the fifth and above," indicating that "the advertisements and pressures that exist to pressure the bank to reduce the value of the Iraqi dinar."

 

Corruption alliance

For his part, the head of the Economic Media Center, Dergham Muhammad Ali, said in an interview with Shafaq News that "the reasons for the dollar's rise in front of the dinar are that the latter is affected by the statements, and therefore the bank governor's announcement of the decline in the cash reserve   would force the bank to reduce its sales so that it does not cover all transfers and thus it will There is less supply and more demand for the dollar. "

He adds that "the second reason is the lack of a direct window from the central bank to sell the dollar to the citizen and the merchant makes the banks form a corruption alliance to create a black market for the dollar."

The head of the Economic Media Center proposes a solution to make the dollar stable, which is to open direct selling windows to small traders and small transfers at the official rate without the intermediation of banks.

 

The white paper is the reason

As for the member of the Parliamentary Finance Committee, MP Ahmad Hama Rashid, he said in an interview with Shafaq News that "one of the proposals presented by the government in the Parliament White Paper is to review the exchange rate of the dollar," indicating that "the budget has accumulated deficits and the state wants to finance the budget with a deficit, that is. Inflationary financing. "

Rasheed explains that "the existing proposal and the proposal in the white paper do not have two sides, but rather one aspect, which is the rise in the price of the dollar against the dinar."

 

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9 hours ago, DWS112 said:

CBI News 10/18/2020

The Central Bank comments on the comments to reduce the price of the dinar against the dollar

The Central Bank comments on the comments to reduce the price of the dinar against the dollar

 

The Central Bank of Iraq confirms that the statements that have spread recently regarding (reducing the exchange rate of the Iraqi dinar against the dollar)

 

represent the viewpoint of those who stated it and do not represent the official position of the Central Bank, and this was accompanied by a number of rumors launched by speculators, which affected the price (temporarily).


This bank declares that the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent. Note that its foreign currency reserves are "very good" according to all international indicators, in a way that enables it to overcome the current crisis that the country is going through.
This bank hopes that the media will rely exclusively on the sources of the Central Bank in this regard.
 
The Central Bank of Iraq
   Media Office
October 18, 2020

 

A statement from the central bank ends the controversy regarding the dollar exchange rate

 

137193.jpg?watermark=4

 

3,075 Policy 10/18/2020 09:22 am 


Baghdad today - Baghdad 

 

Today, Sunday (October 18, 2020), the Central Bank of Iraq issued a statement regarding reducing the exchange rate of the Iraqi dinar against the US dollar, while confirming that this news represents the viewpoint of the one who announced it, not the bank. 

The media office of the Central Bank stated in a statement received (Baghdad today), that “ The Central Bank of Iraq confirms that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it, and do not represent the official position of the Central Bank. This was accompanied by a number of rumors launched by speculators, which affected the price (temporarily) . "

According to the statement, the bank announced that "the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent," noting that "its foreign currency reserves are very good, according to all international indicators and in a way that enables it to overcome the current crisis the country is going through . " 

The statement continued, "This bank hopes that the media will exclusively use the sources of the central bank in this regard ."

Yesterday, Saturday, the price of the dollar rose against the Iraqi dinar, reaching 100 dollars each, compared to 128 thousand dinars, according to some exchanges. 

After that, a member of the Parliamentary Finance Committee, Naji Al-Saeedi, called for the dismissal of the central bank governor, against the backdrop of the high exchange rate of the dollar against the Iraqi dinar . 

Al-Saeedi said, in an interview with (Baghdad Today), that "the first task of the leader of monetary policy in Iraq, which is the central bank, is to preserve the value of the Iraqi currency, and the bank will bear what happened today in terms of confusion and instability after the high exchange rate of the dollar against the Iraqi dinar. " . 

He added, "There is an agreement to reduce the value of the Iraqi dinar against the dollar, in order to reduce the state's general federal budget deficit, considering the high exchange rate of the dollar against the dinar will reduce the deficit, and this is done through the official price and not the parallel, but what happened otherwise . "

He explained, "The Central Bank used the policy of what we call the new monetary issuance or the financing of inflation by printing a new currency to fill the deficit, but this process will have negative consequences for the citizen," indicating that "what happened today achieved the goals of some bank managers and returned benefits to them and currency traders. Participants in the currency auction, to get big profits . " 

A member of the Parliamentary Finance Committee continued, "The step taken by the bank today is one of the corruption steps to destroy the Iraqi economy, and if he is not aware of it, the bank governor should be dismissed because he is not specialized in these issues and is also not competent to manage the country's financial affairs . 

LINK 

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Just now, DinarThug said:

 

A statement from the central bank ends the controversy regarding the dollar exchange rate

 

137193.jpg?watermark=4

 

3,075 Policy 10/18/2020 09:22 am 


Baghdad today - Baghdad 

 

Today, Sunday (October 18, 2020), the Central Bank of Iraq issued a statement regarding reducing the exchange rate of the Iraqi dinar against the US dollar, while confirming that this news represents the viewpoint of the one who announced it, not the bank. 

The media office of the Central Bank stated in a statement received (Baghdad today), that “ The Central Bank of Iraq confirms that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it, and do not represent the official position of the Central Bank. This was accompanied by a number of rumors launched by speculators, which affected the price (temporarily) . "

According to the statement, the bank announced that "the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent," noting that "its foreign currency reserves are very good, according to all international indicators and in a way that enables it to overcome the current crisis the country is going through . " 

The statement continued, "This bank hopes that the media will exclusively use the sources of the central bank in this regard ."

Yesterday, Saturday, the price of the dollar rose against the Iraqi dinar, reaching 100 dollars each, compared to 128 thousand dinars, according to some exchanges. 

After that, a member of the Parliamentary Finance Committee, Naji Al-Saeedi, called for the dismissal of the central bank governor, against the backdrop of the high exchange rate of the dollar against the Iraqi dinar . 

Al-Saeedi said, in an interview with (Baghdad Today), that "the first task of the leader of monetary policy in Iraq, which is the central bank, is to preserve the value of the Iraqi currency, and the bank will bear what happened today in terms of confusion and instability after the high exchange rate of the dollar against the Iraqi dinar. " . 

He added, "There is an agreement to reduce the value of the Iraqi dinar against the dollar, in order to reduce the state's general federal budget deficit, considering the high exchange rate of the dollar against the dinar will reduce the deficit, and this is done through the official price and not the parallel, but what happened otherwise . "

He explained, "The Central Bank used the policy of what we call the new monetary issuance or the financing of inflation by printing a new currency to fill the deficit, but this process will have negative consequences for the citizen," indicating that "what happened today achieved the goals of some bank managers and returned benefits to them and currency traders. Participants in the currency auction, to get big profits . " 

A member of the Parliamentary Finance Committee continued, "The step taken by the bank today is one of the corruption steps to destroy the Iraqi economy, and if he is not aware of it, the bank governor should be dismissed because he is not specialized in these issues and is also not competent to manage the country's financial affairs . 

LINK 


The CBI Article Above - Was In Response To This Guy Al-Saeedi ! :o 

 

:D  :D  :D 

 

 

A parliamentary request to reconsider printing the currency from the Central Bank: its disadvantages are many

 

137222.jpg?watermark=4

 

4,080 Policy 2020/10/18 13:13 


Baghdad today - Baghdad 

 

A member of the Parliamentary Finance Committee, Naji Al-Saeedi, on Sunday (10/18-2020), said that printing the currency by the Central Bank is a violation of the law, and will harm the country's economic position and float the currency. 

Al-Saeedi said in an interview with (Baghdad Today), "The Central Bank used the method of printing currency, although it is a step inconsistent with the bank law, which confirms that printing banknotes is a routine technical procedure practiced by the bank according to the requirements of cash circulation." He added that "this procedure will harm the economic and financial center of Iraq and generate corruption files. Therefore, the management of the central bank must be reconsidered because it is not worthy of this task."

Yesterday, a member of the Parliamentary Finance Committee, Naji Al-Saeedi, said that the new cash issue to finance internal borrowing will contribute to raising the exchange rate.

Al-Saeedi wrote in his Twitter account: "The Central Bank's use of the new cash issue to finance internal borrowing (to fill the budget deficit) will lead to an increase in the exchange rate of the dollar against the dinar, which will lead to an increase in the price of goods."

He continued: "The beneficiaries of this process are the joint banks in the window of selling the currency," considering it "legal theft of the people's money."

LINK 

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Central Bank: The dollar is fixed, and our reserves are good

 
  Baghdad: Morning
 

The Central Bank confirmed, yesterday, Sunday, the stability of the dollar exchange rate against the Iraqi dinar, indicating that its foreign currency reserves are "very good."

The bank said in a statement: “The statements that have spread recently regarding the reduction of the Iraqi dinar exchange rate against the dollar represent the viewpoint of those who stated it and do not represent the official position of the Central Bank. This was accompanied by a number of rumors released by speculators, which temporarily affected the price.”
He added that «the exchange rate is fixed and has not changed, and that the bank’s monetary policy is clear and transparent, noting that its foreign currency reserves are very good according to all international indicators, in a way that enables it to overcome the current crisis the country is going through.
The Central Bank called on the media to "exclusively approve the sources of the Central Bank in this regard."
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A director in the central bank sets his forecast for the dollar exchange rate within days and reveals a forthcoming measure

News source / Baghdad today

image-83.jpg?w=560

image-1-54.jpg?w=560

News source / Baghdad today

Baghdad today - Baghdad

 

The General Director of the Central Bank branch in Basra Governorate, Qasim Raheeb, suggested that the exchange rate would continue to decline in the coming days.

 

Raheef said in a press statement, followed by (Baghdad Today), that “the statements made by some members of Parliament, and other parties, that there is an intention to raise the exchange rate of the dollar in the coming days, created a crisis through the increase in demand for the dollar, which led to an increase in its exchange rate. For high numbers ”.

 

He continued: “There is no truth to the news that talk about an overnight decision by the central bank to raise the dollar exchange rate,” noting that “the central bank will launch sums of money to reduce the dollar’s exchange rate to 121 or 120 for every 100 US dollars, on selling exchanges. And buy the dollar, within days. ”

 

Today, Sunday (October 18, 2020), the Central Bank of Iraq issued a statement regarding reducing the exchange rate of the Iraqi dinar against the US dollar, while confirming that this news represents the viewpoint of the one who stated it, not the bank.

 

The media office of the Central Bank stated in a statement received (Baghdad today), that “The Central Bank of Iraq confirms that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it, and do not represent the official position of the Central Bank. This was accompanied by a number of rumors launched by speculators, which affected the price (temporarily).

 

According to the statement, the bank announced that "the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent."

 

The statement continued, "This bank hopes that the media will exclusively use the sources of the Central Bank in this regard."

 

Yesterday, Saturday, the price of the dollar rose against the Iraqi dinar, reaching 100 dollars each, compared to 128 thousand dinars, according to some exchanges.

 

https://iraqakhbar.com/2710087

 

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1 hour ago, Carrello said:

noting that “the central bank will launch sums of money to reduce the dollar’s exchange rate to 121 or 120 for every 100 US dollars, on selling exchanges. And buy the dollar, within days. ”


That would be $.82...within days...I won’t hold my breath, but interesting. Lots and lots going on. 

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13 minutes ago, WheresmyRV? said:

I'd be so happy with a .82 cent RV

me too. with 0.82 i will run to the bank and never look back forever. but at this moment i amn't going to get excited yet. i believe it when i see it. come rv.

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1 hour ago, WheresmyRV? said:

I'd be so happy with a .82 cent RV


Thus Enter Weegie - The ‘Rainmaker’ ! :o 

 

image.gif.897ccd5724e03e3b23c0203d97e7f268.gif


And ‘Goat Whisperer’ ...

 

:D  :D  :D 
 

Edited by DinarThug
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2 hours ago, Catluver67 said:


That would be $.82...within days...I won’t hold my breath, but interesting. Lots and lots going on. 

 

Hmmmm.   .82 is pretty close to the .84 VISA rate that shows on the  Ferates.com world currency exchange rates site. 

 

Give:
IQD – iraqi dinar
 
How much to exchange
or
Receive:
USD – US dollar
How much to receive
Selling 100.00 IQD you will receive:
Visa 84.03 $ 
 
0.8403 

 

And let's not forget they want to start taxing the Iraqis this month.

 

🙏  🙏  🙏

 

 

 

 

 

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3 hours ago, Catluver67 said:


That would be $.82...within days...I won’t hold my breath, but interesting. Lots and lots going on. 

I've seen where they leave the 0s out of the figure. When they said 120 for every 100 usd, it meant to read 120,000 for every 100 usd. This could be different than what I've seen in the past, who knows.

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1 hour ago, Longtimelurker said:

I've seen where they leave the 0s out of the figure. When they said 120 for every 100 usd, it meant to read 120,000 for every 100 usd. This could be different than what I've seen in the past, who knows.

Longtimelurker you are correct.. I have seen them abbreviate the rate that way also in the past. They usually mean 121,000 or 120,000 for every $100..

 

IMO nothing to get excited about yet..

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3 hours ago, GregHi said:

Longtimelurker you are correct.. I have seen them abbreviate the rate that way also in the past. They usually mean 121,000 or 120,000 for every $100..

 

IMO nothing to get excited about yet..

 

...and they interchange the decimal point and comma which adds to the confusion....hopefully we shall see really, really, soon.  

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