At the end of the week, foreign remittances from the dollar rose in the Iraqi Central auction

[screwball]

they do need to dry up and switch from USD to Dinar for in country purchases and for this to happen rate needs to change, purchasing power is required and prices of all goods in country need to change. we are close

[utah rock]

2 hours ago, screwball said:

not sure about this???? most are using day to day to survive, some will rush to the banks to deposit, which builds reserves, your also talking about peole that have been oppressed and tortured for years and been in a constant state of war! they will want to build homes buy cars etc, it will be a boom for them and a big part of the money cycle and money velocity they need for economic banking.

I love what you are saying here. It’s the very same for most of us if we came across a large sum of money; it would go back into the system within a few years time. Managing money is a challenge for most, making your money make money is extremely difficult for most. 
 

i just want the darn opportunity to find out how I do with a windfall of money. 
GO RV!!!

[yota691]

A new decline in central bank sales and foreign remittances

March 07 2022

 

 

 

Sunday's sales witnessed a historic collapse in cash sales (Facebook)

Ultra Iraq - Editorial Team

The Central Bank of Iraq's foreign currency sales recorded a new decline on Monday, March 7, 2022, to about $110 million.

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Foreign remittances amounted to more than 93 million dollars, accounting for 82% of the total sales.

During its auction of buying and selling US dollars, the Central Bank witnessed a decrease in its dollar sales, reaching 109 million and 987 thousand dollars, a decrease of nearly 4%, or the equivalent of approximately 5 million dollars, from  sales on Sunday .

Foreign remittances decreased by nearly $20 million to more than $93 million, in the form of requests to enhance balances abroad, and accounted for 82% of total sales.

The Central Bank resumed its usual sales of currency in cash, and recorded about $ 17 million in total cash sales, at a rate of approximately 18% of total sales.

Sunday 's sales saw a historic crash with cash sales of less than $1 million.

And 15 banks fulfilled requests to enhance balances abroad, compared to 10 banks to meet cash requests, with the participation of 42 mediation companies and 8 exchange companies.

The bank covered sales at the following prices:

• The selling price of the amounts transferred to bank accounts abroad is (1460) dinars per dollar.
• The cash sale price is (1460) dinars per dollar.

[yota691]

 

A new decline in central bank sales of the dollar in the currency auction

 2022-03-07 04:57

 

Shafaq News/ The Central Bank's dollar sales fell today, Monday, to record 109 million dollars.

Shafak News Agency correspondent stated, "The Central Bank witnessed today, during its auction for buying and selling US dollars, a decrease in its sales of dollars, to reach 109 million and 987 thousand US dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Sunday, which amounted to Sales of 112 million and 670 thousand and 566 dollars.

Our correspondent added that most of the sales were in the form of foreign remittances, which amounted to 93 million and 167 thousand dollars, while the remaining amount of 16 million and 820 thousand dollars went in cash.

Our correspondent indicated that 15 banks have responded to requests to enhance balances abroad, and 10 banks to meet cash requests, in addition to 42 mediation companies.

[yota691]

It looks like these low auction are direct results of the CBI knocking these corrupt folks out the game, it seems..GM DV

 

 

[CSM (R) Thack]

41 minutes ago, yota691 said:

It looks like these low auction are direct results of the CBI knocking these corrupt folks out the game, it seems..GM DV

 

 

🤞🤞🤞👍👍👍🇺🇸…thx for the updates Master Yota!!!

[nannab]

Good morning Yota/DV and thank you   🤞

 

[Half Crazy Runner]

5 hours ago, yota691 said:

It looks like these low auction are direct results of the CBI knocking these corrupt folks out the game, it seems..GM DV

 

 

Sounds like a win/win!  

[nannab]

This is another members line WINNER WINNER CHICKEN DINNER! We are

going to need this to buy chicken at $50. plus per pound.  

 

31 minutes ago, Half Crazy Runner said:

Sounds like a win/win!  

 

[southbeach]

11 hours ago, yota691 said:

It looks like these low auction are direct results of the CBI knocking these corrupt folks out the game, it seems..GM DV

 

 

Oh, for sure.  Corruption removal before RV.  Barzani next.

[yota691]

 

The central bank's dollar sales are rising again and approaching $200 million

 

 2022-03-08 05:32

 

Shafaq News/ The central bank's dollar sales rose again today, Tuesday, to nearly $200 million.

Shafak News Agency correspondent stated, "The Central Bank witnessed today, during its auction for buying and selling the US dollar, an increase in its dollar sales by 80.73 percent, to reach 197 million and 727 thousand and 321 US dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday. Monday, which amounted to sales of 109 million and 987 thousand dollars.

Our correspondent added that most of the sales were in the form of foreign remittances, which amounted to 117 million and 567 thousand and 321 dollars, while the remaining amount of 80 million and 160 thousand dollars went in cash.

Our correspondent indicated that 25 banks have responded to requests to enhance balances abroad, and 21 banks have responded to cash requests, in addition to 321 mediating companies.

[pontiyak]

I do believe the people of Iraq need to be compensated for all their years of suffering wars and poverty, and corrupt leaders need to be removed, but compensation can be achieved in many ways. Improved infrastructure, higher wages, lower inflation. lowered unemployment. Those sort of things. All I'm saying is that if a lot of Dinars are still floating around in country and a significant RV takes place it could be destabilizing. That's not a good thing. If there are not a lot of Dinar floating around and a healthy RV takes place, people will be happy as their currency starts to regain a respected place on the world stage. 

[yota691]

Back to business, guess the CBI didn't slow it down

 

 

 

Within a day, the Central Bank of Iraq's dollar sales exceed $200 million

 

 2022-03-09 05:41

 

Shafak News/ The Central Bank's dollar sales in an auction today, Wednesday, rose to more than 200 million dollars.

Shafak News Agency correspondent stated, "The Central Bank witnessed today, during its auction for buying and selling US dollars, an increase in its sales to reach 208 million and 514 thousand and 298 US dollars, which was covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Tuesday, in which sales amounted to 197 million and 727 thousand and 321 dollars.

Our correspondent added that most of the sales were in the form of foreign remittances, which amounted to 134 million and 954 thousand and 298 dollars, while the remaining amount of 73 million and 560 thousand dollars went in cash.

Our correspondent indicated that 25 banks have responded to requests to enhance balances abroad, and 22 banks have responded to cash requests, in addition to 316 mediating companies.

[Theseus]

On 3/8/2022 at 4:09 PM, pontiyak said:

I do believe the people of Iraq need to be compensated for all their years of suffering wars and poverty, and corrupt leaders need to be removed, but compensation can be achieved in many ways. Improved infrastructure, higher wages, lower inflation. lowered unemployment. Those sort of things. All I'm saying is that if a lot of Dinars are still floating around in country and a significant RV takes place it could be destabilizing. That's not a good thing. If there are not a lot of Dinar floating around and a healthy RV takes place, people will be happy as their currency starts to regain a respected place on the world stage. 

Too much Western "woke" thinking here.

 

At what point do the people of a country take responsibility for the accountability of their leaders?

 

We might find out in Russia sooner than later.

 

People will be happy not with the respect of their currency around the world, they will be happy when they can put food in their bellies and their confidence of purchasing of goods and services rises to a much higher level. Right now the only who cares about the rest of the world is the rest of the world, not so much the Iraqi citizen. They have enough to worry what is happening at home rather than what is happening in the rest of the world. 

Edited March 9, 2022 by Theseus

[yota691]

 

The increase in central bank sales of dollars from remittances at the expense of cash

 

 2022-03-10 05:52

 

Shafaq News/ The Central Bank's sales of dollars from remittances increased at the expense of cash sales in an auction today, Thursday.

Shafak News Agency correspondent stated, "The Central Bank witnessed today, during its auction for buying and selling US dollars, a decrease in sales to reach 192 million and 948 thousand and 383 US dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Wednesday, when sales amounted to 208 million and 514 thousand and 298 dollars.

Our correspondent added; Sales of foreign remittances rose at the expense of cash sales, as foreign remittances amounted to 158 million and 128 thousand and 383 dollars, while the remaining amount of 34 million and 820 thousand dollars went in cash.

Our correspondent indicated that 26 banks have met requests to enhance balances abroad, and 13 banks have responded to cash requests, in addition to 152 mediation companies.

[yota691]

The date and the time change on this article...everything else looks the same from the above article...

 

 

 

The increase in central bank sales of dollars from remittances at the expense of cash

 

 2022-03-11 10:03

 

Shafaq News/ The Central Bank's sales of dollars from remittances increased at the expense of cash sales in an auction today, Thursday.

Shafak News Agency correspondent stated, "The Central Bank witnessed today, during its auction for buying and selling US dollars, a decrease in sales to reach 192 million and 948 thousand and 383 US dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Wednesday, when sales amounted to 208 million and 514 thousand and 298 dollars.

Our correspondent added; Sales of foreign remittances rose at the expense of cash sales, as foreign remittances amounted to 158 million and 128 thousand and 383 dollars, while the remaining amount of 34 million and 820 thousand dollars went in cash.

Our correspondent indicated that 26 banks have met requests to enhance balances abroad, and 13 banks have responded to cash requests, in addition to 152 mediation companies.

[yota691]

 

Dollar sales decline in the Central Bank of Iraq auction

 

 2022-03-14 06:54

 

Shafaq News/ The Central Bank's sales of the US dollar fell through its auction today, Monday, to record 155 million dollars.

 

Shafak News Agency correspondent stated that today, during its auction for buying and selling the dollar, the Central Bank witnessed a decrease in its sales to reach 155 million and 310 thousand and 880 US dollars covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Sunday, in which sales amounted to 180 million And 911 thousand and 943 dollars.

 

Our correspondent added that most of the sales were in the form of foreign remittances, which amounted to 119 million and 330 thousand and 880 dollars, while the remaining amount of 35 million and 980 thousand dollars went in cash.

 

Our correspondent indicated that 21 banks have fulfilled requests to enhance balances abroad, and 16 banks have responded to cash requests, in addition to 118 mediation companies.

[yota691]

 

Central bank sales of the dollar rose in today's auction

 2022-03-15 06:36

 

Shafaq News/ The central bank's dollar sales rose today, Tuesday, to reach $190 million.

Shafak News Agency correspondent stated, "The Central Bank witnessed today, during its auction for buying and selling the US dollar, an increase in its dollar sales by 22.58 percent, to reach 612 million and 616 thousand and 880 US dollars covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday Monday, which sales amounted to 155 million and 310 thousand and 880 dollars.

Our correspondent added that most of the sales were in the form of foreign remittances, which amounted to 124 million and 812 thousand and 616 dollars, while the remaining amount of 65 million and 800 thousand dollars went in cash.

Our correspondent indicated that 23 banks have met requests to enhance balances abroad, and 21 banks have responded to cash requests, in addition to 370 mediating companies.

[Stelardoc]

Could this be a warning shot cuz that is a huge jump. Could it be a hint of a different monetary

system looming in the near future. At least for the "big dogs" "whales", contractors, or honest elites.

Tier 1 ? LOL Not for us bottom feeders. YET. 

for a lack of better terms.

There is still insiders club with the food chain.

QFS is suppose to be coming "soon" maybe be it's already gold backed.

Just saying. Enquiring minds want to know🤑

Interesting to see what happens next or a pattern .

 

[yota691]

 

Currency auction .. a slight increase in the sales of the Central Bank of Iraq from the dollar

 

 2022-03-16 07:43

 

Shafaq News/ The Central Bank of the dollar sales rose slightly today, Wednesday, to record 192 million dollars.

Shafak News Agency correspondent stated, "The Central Bank witnessed today, during its auction for buying and selling the US dollar, an increase in its sales of the dollar by 1.05 percent, to reach 192 million and 184 thousand and 468 US dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday. Tuesday, which sales amounted to 190 million and 612 thousand and 616 dollars.

Our correspondent added that most of the sales were in the form of foreign remittances, which amounted to 127 million and 744 thousand and 468 dollars, while the remaining amount of 64 million and 440 thousand dollars went in cash.

Our correspondent indicated that 24 banks have responded to requests to enhance balances abroad, and 20 banks have responded to cash requests, in addition to 234 mediating companies.

[HowieC]

Calls To Cancel The Dollar Sale Window On The Pretext Of The Great Corruption That Accompanies Its Work

Last update March 16, 2022

The Independent/- Dollar sales operations through the central bank window are economically classified according to the Open Market Operations method, and they followed in Iraq a year later the political change for the purpose of controlling the exchange rate, which is an important part of monetary policy, as the exchange rate was considered a nominal fixer for the policy. After the interest rate lost the ability to influence due to the structural imbalance in economic activity caused by dependence on oil and the atrophy of investments and the loss of their flexibility to a large extent towards the interest rate, on the other hand, the internal market became highly dependent on the outside and the goods and services supplied to it. The fixing of the exchange rate controls the general rate of prices to a relatively large extent.

The monetary impact of the window plays an important economic role in the field of the duties of the central bank within its central goal in controlling inflation by influencing the monetary mass within the economy, and here the process indicates to us another structural defect, as the government’s monopoly on the main resource in the economy, which is oil and the proportions it constitutes It is high in GDP, with an average rate of more than 48%, its concentration in exports is 99%, and its contribution to budget revenues has reached an average rate of 92%, and therefore it is the largest contributor to the percentages of GDP improvements, and the issue here is that these government revenues achieve a growing ability to spend, Since the process is based on a barter between the Ministry of Finance and the Central Bank, the first party grants the dollar to the second party and it becomes a debt on it, so that the second party compensates it in dinars to return it to the Ministry of Finance.

And since the volume of output is dependent, according to the mentioned ratios, on oil and it is in a productive development, as the production capacity has reached five million barrels and it is hoped that it will reach eight in 2027 according to the ministry’s plans, and these expansions lead to improvements in output, and here is the most important reason for the growth of the monetary mass issued by the bank according to the equation mentioned, as these increases are added to the activity mainly through government spending.

The control of inflation rates lies in the procedures of the window, as it withdraws part of the cash mass by exchanging the window dollars for the street dinars, and this is a process (sterilization) of the effects of government spending, which is a very expensive process, and one of the factors that undermine capital accumulation.

We point out another structural imbalance, which is that the dollar’s only source is oil, and the concentration ratio proves this, and then meeting the demand for the dollar internally to cover imports has no way except by withdrawing the government dollar, and this is what the window does, which means that it is important on the financial level, as it is The guarantor of the flow of goods is also important in monetary terms, as the bank was able to control inflation rates by withdrawing the inflationary impact of the continuous growth of the monetary mass as a result of government spending.

Here is the response to the calls to abolish the window on the pretext of the great corruption that accompanies its work, and the calls for (dollarization) without understanding its impact. The solution in the short term lies in the legal treatment of corruption in the window, but in the medium and long term, it is the treatment of the structural imbalance that imposes the existence of the window.

https://mustaqila.com/دعوات-لغاء-نافذة-بيع-الدولار-بحجة-الفس/

 

[nannab]

   Close the window NOW PLEASE!!!!!!!

Thanks HowieC 

 

[horsesoldier]

" on the pretext " for real ???? 😆

[Stelardoc]

Close the " WINDOW' oh yeah!  Please

Nothing but the stank of corruption coming in

Board it up already. Window has been broken and wide open too long.

Open a new door and let some fresh QFS air in!!

Is that a whiff of gold backed blowing through

that new open door?

Ah.. the smell of fresh clean air with the newness of spring, prosperity and new beginnings.😇

I can smell it already!!

 

 

 

 

[rvmydinar]

On 3/16/2022 at 8:17 PM, HowieC said:

Calls To Cancel The Dollar Sale Window On The Pretext Of The Great Corruption That Accompanies Its Work

 

Just wonder, what is iraq definition of " Cancel the dollar sale window "? Stop the auction and rv the IQD soon?