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Parliamentary Finance reveals the fact that the Central Bank intends to change the dollar's exchange rate


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36 minutes ago, Dinarrock said:

Current CBI Exchange rate is 1460 period!! CBI.iq plain as day!!

In it, the Kurdistan Regional Government said that the agreement reached by its negotiating delegation with Baghdad is included in the draft law 

 Erbil  13:12  December 29 2020  
      
The draft budget requires a vote from parliament to become law - an archive The draft budget requires a vote from parliament to become law - an archive
 
 

ERBIL (Kurdistan 24) - The deputy speaker of the Iraqi parliament, Bashir Al-Haddad, said Tuesday that Parliament has received the draft federal budget for 2021.

This comes at a time when the Kurdistan Regional Government said that the agreement reached by its negotiating delegation with Baghdad is included in the draft law.

The Iraqi Council of Ministers voted in an "exceptional" session on December 21, 2009, on the controversial project.

The budget is worth 146 trillion dinars (112 billion dollars), while Iraq is grappling with a severe economic and financial crisis due to low oil prices.

The draft budget requires a vote from parliament to become law. Its articles are expected to spark debate among MPs in light of an expected deficit of 71 trillion dinars ($ 48 billion). The 2021 budget bill was based on a global oil price of $ 42 a barrel.

In an attempt to fill the deficit and compensate for the decline in oil revenues, the Central Bank of Iraq decided to raise the selling price of the dollar to banks and exchange offices from 1182 dinars to 1,450 dinars.

The head of the Kurdistan Regional Government's delegation negotiating with Baghdad Qubad Talabani said in a press conference held in Erbil on Monday, "I can say that we agreed with the federal government on the budget, and we agree with what is related to the region's share in the budget project and are committed to it."

 

 

Talabani said that the Kurdistan Region is ready to sell 250 thousand barrels of oil per day through the Oil Marketing Company (SOMO), which is included in the draft budget of 2021.

And the expected oil exports in the 2020 budget amount to about 3.25 million barrels per day, of which 250 thousand barrels per day are from the Kurdistan Region.

Days ago, Finance Minister Ali Allawi said that the 2021 budget will not include job grades, and he talked about a reduction in the financial allocations for employees.

Iraq has the fourth largest oil reserves in the world, and relies on oil revenues mainly to finance 95 percent of its federal public budget.

Despite this, Iraq is still experiencing a financial crisis for months due to the collapse of oil prices and the consequences of the Corona pandemic and the spread of corruption.

The World Bank expected Iraq's gross domestic product to shrink by 9.7 percent this year, down by 4.4 percent compared to last year, which means recording its worst performance since 2003.

The oil-rich country has resorted repeatedly to internal borrowing to fill the budget deficit and pay public sector salaries, pensions and others.

In addition to the devaluation, a leaked draft of the 2021 budget showed the government’s intention to reduce the value of salaries and impose new taxes.

 
 
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To paraphrase Laid Back - this is a great way to suck up some chunky money...   From under the mattresses and any other types of bedding used by Iraqi citizens.   If the CBI were a

Thanks for this. Been expecting something to come out about the zeros esp since they are about to fully implement and fully automate the customs and tax tariffs. When Iraq devalued a week ago the valu

Parliamentary Finance reveals to {Al Furat News} the fact that the Central Bank intends to change the dollar's exchange rate  Time: 01/02/2021 12:31:58  

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Why does it need to be an argument rather than trying to understand what's going on. I enjoyed both perspective here and am thankful for the information. Always take what I say with a grain, or a glass rim, of salt, I do want peace on earth and a utopia. Kind'a the crazy one around these waters :shrug:

If it RV'ed it sure would make this pandemic a heck of a lot more enjoyable. 

Peace on earth, such a lovely planet! 

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29 minutes ago, horsesoldier said:

driving through the length and breadth of Texas took nearly as long :lol:

 

 

LOL.....Ain't that the truth. I'm pretty sure there a spot in central Texas akin to the Bermuda Triangle....once you in it you can literally drive for weeks, or so it seems! Any more I just tell people to go around Texas, it's much quicker that way.    :easyrider:

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29 minutes ago, SONIA1 said:

 with all do respect do your homework first before you argue!!!

 

 

Yes correct with all do respect your articles don’t mean diddly squat! Here you go straight from the CBI.IQ website the ONLY site you EVER need to look at with regards to the CURRENT EXCHANGE RATE!! Please do some more homework

before you rely on some article to prove your weak points! Whatever they decide to put inside the budget to make their numbers work is fine but once again the CBI has the current exchange rate of 1460 today! Hope this clears things up for you as NO they do not have to keep the 1450 rate in the budget for the rest of the year if they actually choose to use the 1450 rate...Savvy mate!

US dollar USD 1460.000
Euro EUR 1795.070
Pound sterling GBP 1988.812
Canadian dollar CAD 1144.380
Swiss franc S.FR 1657.208
Swedish krona SEK 178.127
Norwegian krone NOK 170.988
Danish krone DKK 241.366
Japanese yen JPY 14.151
Chinese Yuan CNY 223.899
Australian dollar  AUD 1121.864
Special drawing rights  SDR 2102.794
Gold for 24-ounce  Gold 2737020.000

 

 

Edited by Dinarrock
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4 minutes ago, Dinarrock said:

Yes correct with all do respect your articles don’t mean diddly squat! Here you go straight from the CBI.IQ website the ONLY site you EVER need to look at with regards to the CURRENT EXCHANGE RATE!! Please do some more homework

before you rely on some article to prove your weak points!

US dollar USD 1460.000
Euro EUR 1795.070
Pound sterling GBP 1988.812
Canadian dollar CAD 1144.380
Swiss franc S.FR 1657.208
Swedish krona SEK 178.127
Norwegian krone NOK 170.988
Danish krone DKK 241.366
Japanese yen JPY 14.151
Chinese Yuan CNY 223.899
Australian dollar  AUD 1121.864
Special drawing rights  SDR 2102.794
Gold for 24-ounce  Gold 2737020.000

 

 

That is the sell price that  the buy price is 1450..gov and budget goes with buy rate.

Edited by SONIA1
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Again you just be slow today it doesn’t matter what the budget says!!

 

What does the CBI of Iraq say the rate is??? 
 

The CBI is an Independent organization mate it makes zero difference what the government budget says period!!

Edited by Dinarrock
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Been here for years following this rollercoaster. One great thing I did from this group when Bitcoin was coming out was to put some money there. Bitcoin broke 30k today and is forecasted to be over 40k by Monday and by gosh the gurus say it will hit 100k. All I can say is spread your investments out. Don't throw your eggs all into one basket.

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10 minutes ago, Dinarrock said:

Again you just be slow today it doesn’t matter what the budget says!!

 

What does the CBI of Iraq say the rate is??? 
 

The CBI is an Independent organization mate it makes zero difference what the government budget says period!!

CBI buy rate is 1450 sell rate 1460 

 

 

IT does not matter what budget says? 🤣   I think you need a vacation . so you can study more!!!  

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1 hour ago, ThePeoplesChamp said:

Been here for years following this rollercoaster. One great thing I did from this group when Bitcoin was coming out was to put some money there. Bitcoin broke 30k today and is forecasted to be over 40k by Monday and by gosh the gurus say it will hit 100k. All I can say is spread your investments out. Don't throw your eggs all into one basket.

We are all over it in VIP

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3 hours ago, SONIA1 said:

CBI buy rate is 1450 sell rate 1460 

 

 

IT does not matter what budget says? 🤣   I think you need a vacation . so you can study more!!!  

You do know that the CBI can change the rate to $1.45 tomorrow if they wanted to? 

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%D8%AC%D9%85%D8%A7%D9%84-%D9%83%D9%88%D8

 

The information / Baghdad ..

A member of the Parliamentary Finance Committee, Jamal Cougar, revealed, on Sunday, that the House of Representatives does not have any legal authority to restore the exchange rate of the dollar, indicating that the Central Bank is the one who bears the repercussions of market fluctuations and inflation.

Cougar said in a statement to / the information / that "the House of Representatives does not have any legal authority to determine the exchange rate of the dinar during the 2021 budget and will not be able to return it."

Cougar added, "The Central Bank and the Minister of Finance are the ones who bear the repercussions of inflation and the current market rebound and its impact on citizens."

He pointed out that "the House of Representatives will work to reduce the side effects of the decision to increase the exchange rate of the dollar through the transfer of some money and increase investment amounts to support the industry and the national product." End / 25 D.

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10 hours ago, yota691 said:

we need two weeks to overcome the crisis of changing the price so that citizens adapt to the new price.

OK... its been 2 weeks since the changing of the exchange rate! (Dec 19th 2020) - NOW WHAT?

Delete the Zeros?

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22 minutes ago, DWS112 said:

OK... its been 2 weeks since the changing of the exchange rate! (Dec 19th 2020) - NOW WHAT?

Delete the Zeros?

PLEASE!! PLEASE!! PLEASE!! 🙏

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3 minutes ago, keylime said:

I'm ready!!!! Jaygo get the switch!!!!

Sorry keylime it’s Saturday and I have my sweats on. I left the switch in my other pants! Damnit!!! 🤦🏻

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26 minutes ago, WheresmyRV? said:

Hopefully we will have a nice suprise tomorrow morning!

Possibly but I think the first viable day would actually be Monday also when the Iraqi Stock exchange opens back up.

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3 hours ago, Jaygo said:

Sorry keylime it’s Saturday and I have my sweats on. I left the switch in my other pants! Damnit!!! 🤦🏻

Soon then Jaygo? Soon?!!

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13 hours ago, bamastorm said:

Agree with Officallytook.  When I lived in Germany in the 80's and 90's the exchange rate between the dollar and the german mark changed every day sometimes dramatically.

 

 

 
   
   
   
 

 

1985

3.173

1986

2.438

1987

1.918

 

 
   
   
   
   
   
   
   
   
   
   
 

 

I agree with you. I was there from 85-87 before the fall was great times. Lived off base dirt cheap when getting 3 to 1.

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10 hours ago, DinarDavo said:

 

LOL.....Ain't that the truth. I'm pretty sure there a spot in central Texas akin to the Bermuda Triangle....once you in it you can literally drive for weeks, or so it seems! Any more I just tell people to go around Texas, it's much quicker that way.    :easyrider:

It's not so bad, you just have to know when and where you can drive 75 mph and when you can get up to 100 mph. The Troopers are sneaky.  Long Live the Republic of Texas.

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