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The Central Bank of Iraq's foreign remittances exceed $160 million


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1 minute ago, Half Crazy Runner said:

Somewhere on this site somebody mentioned the auctions were being stopped on the 17th of October. I don’t remember who or what article was being discussed… 


I vaguely recall that article as well. Probably payed it no mind as they ( Iraq ) tell more lies than my ex-wife.

 

Hopefully theres truth to this article. The 17th is not far off. I’ll keep a sharp eye on this ( and keep my brand new box of Depends at the ready ).

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2 hours ago, horsesoldier said:


I vaguely recall that article as well. Probably payed it no mind as they ( Iraq ) tell more lies than my ex-wife.

 

Hopefully theres truth to this article. The 17th is not far off. I’ll keep a sharp eye on this ( and keep my brand new box of Depends at the ready ).

It’s kinda fun entertainment to have a new date to watch and look forward to, even if nothing comes of it.  😁 I wouldn’t still be in this if I didn’t think it was absolutely going to happen one of these days… 💰💰💰💰

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3 hours ago, Half Crazy Runner said:

Somewhere on this site somebody mentioned the auctions were being stopped on the 17th of October. I don’t remember who or what article was being discussed… 

 

No, it was some new banking law was going to be effective starting October 17th.  I think the article said they wanted to transition from a planned economy to a market economy (like the rest of the world).  I think maybe the new law was a step towards getting to a market economy.  

 

Anyway, I marked the 17th on my calendar, so hopefully something good will happen.  😀

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2 hours ago, Half Crazy Runner said:

It’s kinda fun entertainment to have a new date to watch and look forward to, even if nothing comes of it.  😁 I wouldn’t still be in this if I didn’t think it was absolutely going to happen one of these days… 💰💰💰💰

 
I’m picking up what you’re laying down....and one of these days it will happen.


Just hoping full blown dementia hasn’t set in and I’m just nothing more than believing I’m a wild potato living in my own Private Idaho.

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2 hours ago, Floridian said:

 

No, it was some new banking law was going to be effective starting October 17th.  I think the article said they wanted to transition from a planned economy to a market economy (like the rest of the world).  I think maybe the new law was a step towards getting to a market economy.  

 

Anyway, I marked the 17th on my calendar, so hopefully something good will happen.  😀

I remember that article now. I think it may have been one of the comments on it that suggested the auctions would end that day. Thanks @Floridian!

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 2021-10-13 07:36
 

Shafaq News/ The Central Bank of Iraq's sales decreased today, Wednesday, in hard currency, to record more than 214 million dollars.

Shafak News Agency correspondent stated that today, during its auction for buying and selling US dollars, the Central Bank witnessed a decrease in its sales by 16.41% to reach 214 million, and 422 thousand and 600 US dollars covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Tuesday, In which sales amounted to 256 million, 317 thousand and 371 dollars.

The purchases amounting to 156 million and 202 thousand and 600 dollars went to enhance balances abroad in the form of remittances and credits, while the remaining amount of 58 million and 220 thousand dollars went in cash.

Our correspondent indicated that 32 banks have responded to requests to enhance balances abroad, and 9 banks to meet cash requests, in addition to the participation of 3 exchange companies, and 102 mediation companies.

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%D9%81%D9%84%D9%88%D8%B3-%D8%A7%D9%84%D8

Sales Of The Central Bank Of Iraq Decreased Today, Wednesday, In Hard Currency, To Record More Than 214 Million Dollars.

A Source Told Al-Ahd News That The Central Bank Witnessed Today, During Its Auction For Buying And Selling US Dollars, A Decrease In Its Sales By 16.41% To Reach 214 Million, And 422 Thousand And 600 US Dollars Covered By The Bank At A Base Exchange Rate Of 1460 Dinars Per Dollar, Compared To Yesterday. Tuesday, With Sales Of 256 Million And 317 Thousand And 371 Dollars.

The Purchases Amounting To 156 Million And 202 Thousand And 600 Dollars Went To Enhance Balances Abroad In The Form Of Remittances And Credits, While The Remaining Amount Of 58 Million And 220 Thousand Dollars Went In Cash.

The Source Indicated That 32 Banks Have Met Requests To Enhance Balances Abroad, And 9 Banks Have Responded To Cash Requests, In Addition To The Participation Of 3 Exchange Companies, And 102 Mediation Companies.

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%D9%81%D9%84%D9%88%D8%B3-%D8%A7%D9%84%D8

Sales Of The Central Bank Of Iraq Of Hard Currency Fell, On Thursday, To Record More Than 206 Million Dollars.

Today, The Central Bank Auction For The Sale And Purchase Of Foreign Currencies Witnessed A Decrease In Its Sales By 3.74% To Reach 206 Million And 422 Thousand And 600 Dollars, Covered By The Bank At A Base Exchange Rate Of 1460 Dinars Per Dollar.

The Purchases Amounting To 165 Million And 877 Thousand And 785 Dollars Went To Enhance Balances Abroad In The Form Of Remittances And Credits, While The Remaining Amount Of 40 Million And 660 Thousand Dollars Went In Cash.

In Addition, 34 Banks Responded To Requests To Enhance Balances Abroad, And 9 Banks To Meet Cash Requests, In Addition To The Participation Of 17 Exchange Companies, And 158 Mediation Companies.

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A new move from the central bank causes the dollar to rise

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PM:02:26:14/10/2021

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Sales of the Central Bank of Iraq decreased, on Thursday, from the dollar to record more than 206 million.
Today, the Central Bank witnessed a decrease in its sales by 3.74% to reach 206 million and 422 thousand and 600 dollars, which was covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Wednesday, when sales amounted to 214 million and 422 One thousand and 600 US dollars.
The purchases amounting to 165 million and 877 thousand and 785 dollars went to enhance balances abroad in the form of remittances and credits, while the remaining amount of 40 million and 660 thousand dollars went in cash.
And economists published a list of the latest dollar exchange rates, which rose in the Iraqi Stock Exchange and banking offices today, Thursday.
According to the list seen by NRT Arabia, (October 14, 2021), the price of the dollar came as follows:
Baghdad - the stock exchange
148,300  
 The price is in most Baghdad exchanges
Purchase
147,750
Sale
148,500  
Basra - Bursa
148,250  
Erbil - Bursa
148,500  
Mosul - Bursa
148,550  
On Wednesday, the dollar recorded the following:
Baghdad - Stock Exchange of struggle 
148,000
....  
The price is in most Baghdad exchanges
Purchase
147,500
Sale
148,500  
Basra - Bursa
148,000  
Erbil - Bursa
148,150
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Sales of the Central Bank of Iraq decreased significantly, on Sunday, from hard currency, to record 52 million dollars, with the entry into force of the new instructions of the bank regarding sales of hard currency.
Informed sources stated, that the Central Bank witnessed today, during its auction for buying and selling US dollars, a decrease in its sales by 74.76% to reach 52 million, and 70 thousand US dollars covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Wednesday, which sales amounted It has 206 million and 422 thousand and 600 US dollars.
The purchases amounting to 51 million dollars went to strengthening balances abroad in the form of remittances and credits, while the remaining amount of one million and 70 thousand dollars went in cash. She pointed out that 8 banks fulfilled requests to enhance balances abroad, and two banks to meet cash requests, in addition to 11 mediation companies.
It is noteworthy that the Central Bank issued on September 26 last new instructions for the sale and purchase of foreign currency for authorized banks and mediation companies, which will be applied as of today, Sunday, 17 of October this year, indicating that the goal behind this is to maintain the stability of currency exchange rates. Comply with the requirements of the Anti-Money Laundering and Terrorist Financing Act.

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 2021-10-17 04:24
 

Shafaq News/ The Central Bank of Iraq's sales of hard currency decreased significantly, today, Sunday, to record $52 million, with the entry into force of the bank's new instructions regarding hard currency sales.

Shafak News Agency correspondent stated that today, during its auction for buying and selling US dollars, the Central Bank witnessed a decrease in its sales by 74.76% to reach 52 million, and 70,000 US dollars covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Wednesday, which Sales amounted to 206 million and 422 thousand and 600 US dollars.

The purchases amounting to 51 million dollars went to strengthening balances abroad in the form of remittances and credits, while the remaining amount of one million and 70 thousand dollars went in cash.

Our correspondent pointed out that 8 banks have met requests to enhance balances abroad, and two banks to meet cash requests, in addition to and 11 mediation companies.

It is noteworthy that the Central Bank issued on September 26 last new instructions for the sale and purchase of foreign currency for authorized banks and mediation companies, which will be applied as of today, Sunday, 17 of October this year, indicating that the goal behind this is to maintain the stability of currency exchange rates. Comply with the requirements of the Anti-Money Laundering and Terrorist Financing Act.

A large number of banking owners, in an interview with Shafak News Agency, feared the bank's new instructions regarding the currency auction due to the difficulty of implementing them, which will push the merchant to obtain the dollar from the local markets, which will raise the demand and increase the price of the dollar.

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%D8%AA%D8%B9%D8%B1%D9%81-%D8%B9%D9%84%D9

Economie

Sales Of The Central Bank Of Iraq Decreased Significantly, On Sunday, From Hard Currency, To Record 52 Million Dollars, With The Entry Into Force Of The New Instructions Of The Bank Regarding Sales Of Hard Currency.

Al-Ahed News Correspondent Stated That The Central Bank Witnessed Today, During Its Auction For Buying And Selling The US Dollar, A Decrease In Its Sales By 74.76% To Reach 52 Million, And 70 Thousand US Dollars Covered By The Bank At A Base Exchange Rate Of 1460 Dinars Per Dollar, Compared To Yesterday, Wednesday, The Sales Amounted To 206 Million And 422 Thousand And 600 US Dollars.

The Purchases Amounting To 51 Million Dollars Went To Strengthening Balances Abroad In The Form Of Remittances And Credits, While The Remaining Amount Of One Million And 70 Thousand Dollars Went In Cash.

Our Correspondent Pointed Out That 8 Banks Have Met Requests To Enhance Balances Abroad, And Two Banks To Meet Cash Requests, In Addition To And 11 Mediation Companies.

On September 26, The Central Bank Issued New Instructions For Buying And Selling Foreign Currency To Licensed Banks And Mediation Companies, Which Will Be Applied As Of Today, Sunday, 17 October.

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On 10/12/2021 at 3:25 PM, Half Crazy Runner said:

Somewhere on this site somebody mentioned the auctions were being stopped on the 17th of October. I don’t remember who or what article was being discussed… 

There were several articles about this event in late Aug. and Sept. I read them too! That was what give me some hope of a possible RV this year,2021! That was also, some of the information I received in early Aug. 2021! This should be an  interesting week! JMHO, we should be finding out, if this investment is going on through the 1st quarter of 2022,or longer! We all need this RV badly just to protect our own families, from what biden and his hynch men, demorats, have going on with our economy here in the US! Believe it, or not, we are in for some very rough times here in the US! The demorats are already warning us of shortages of the products we use everyday! As we all have been an eye wittness to this fact, at your local grocery & drug stores. I believe beef prices are going to go through the roof, in the next couple of months! One reason, myself included did not sell their calves this past spring due low prices at the sale barn! I refuse to sell at $1.80, when it cost me $2.75 to get 600 lbs. you don't have to be a rocket scientist to figure that one out! Listening to that idiot that sleeps in the white house, he has tipped us, to who is running the show! That being one barry obama! Hold on to your Stetsons folks, we are in for some very dark days here in America and there is not a damn thing you are I can do about it, except protect our selfves ! Have a plan and a plan to act! Case closed! JMHO! 

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The instruction are all in arabic, I can't translate them. I've try couple different way. Here are the New Instruction from the file from the CBI...13 pages

 

IBAN, Swift, OFAC, RTGS (Real Time Gross Settlement) is obivious

 

https://cbi.iq/static/uploads/up/file-163229832140731.pdf?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=nui

 

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9 hours ago, rvmydinar said:

Just wonder what is iraq's definition of " stability "? What rate is considered stable according to iraq's definition? 1460?

The term stability refers to keeping the market exchange in range of 1470 for the money outlets for the swap on the streets. The CBI is @ 1460 if you swap directly at a bank. The CBI is comfortable giving the money outlets the 1470 which makes it stable. The CBI makes it share @ 1460..

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15 hours ago, yota691 said:

 

2 hours ago, yota691 said:

The term stability refers to keeping the market exchange in range of 1470 for the money outlets for the swap on the streets. The CBI is @ 1460 if you swap directly at a bank. The CBI is comfortable giving the money outlets the 1470 which makes it stable. The CBI makes it share @ 1460..

"  the goal behind this is to maintain the stability of currency exchange rates  ", what is that sentence supposed to mean? does this mean that the CBI will always keep the rate stable at 1460 or 1470 for a long period of time? or does the CBI want to keep the rate stable at 1460 for an unlimited time first before the CBI stop the auction and rv the IQD? JMO.

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