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The Central Bank: The new 20,000 dinars currency will be introduced at the end of 2023


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Despite the Central Bank's steps, the dollar continues to rise in the local markets

194122022_1603267781871.jpg
 
News 
political
|  
09:50 - 04/12/2022

Baghdad - Mawazine News The exchange rate of the dollar
continues to
rise, despite the decisions issued by the Central Bank of Iraq to limit
its rise.
Money changers spoke
to Mawazine News about the exchange rates of the dollar this evening, as the Basra governorate recorded 150
thousand dinars for purchase and 151 thousand for sale for every $100.
While the capital, Baghdad, recorded this evening, the
money changers recorded a price of 149,000 for purchase and 150,000 for sale, while in Erbil, the prices were at
147,000 for purchase and 148,000 for sale.
And the Central Bank of Iraq issued a number of
decisions to prevent the rise of the dollar in the local markets.
And the Central Bank of
Iraq decided, today, Sunday, to increase the sales ceiling for travelers and the delegated employee to become (5000)
dollars, after the directive of the Prime Minister, Muhammad Shia Al-Sudani.
The Central Bank of
Iraq also decided, today, Sunday, to increase weekly cash sales of the dollar, to prevent a rise
in the exchange rate after the directives of Prime Minister Muhammad Shia’a al-Sudani, while affirming its readiness to
meet the citizens’ needs for foreign currencies. Ended 29 / h

 

 

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Despite the steps of the Central Bank. Dollar continues to rise in local markets

Despite the steps of the Central Bank. Dollar continues to rise in local markets (mawazin.net)

Political |   09:50 - 04/12/2022

 
 

Baghdad - Mawazine News
continues the exchange rate The dollar, rising despite the decisions issued by the Central Bank of Iraq to limit the Height.
Money changers spoke Mawazine News, about the dollar exchange rates this evening, as Basra Governorate recorded 150 1,000 dinars for buying and 151,000 for sale for every $100.
While the capital, Baghdad, recorded this evening, Exchanges are 149 thousand for buying and 150 thousand for selling, but in Erbil, the prices were at 147k for buying and 148k for selling.
The Central Bank of Iraq issued a number of Decisions to prevent the dollar from rising in domestic markets.
The Central Bank decided Iraqi, on Sunday, increase the sales ceiling for travelers and the dispatched employee to become (5000) Dollars, after the directive of Prime Minister Mohammed Shia Sudani.
The Central Bank also decided Iraqi, on Sunday, increase weekly cash sales of the dollar, to prevent a rise in Exchange rate after the directive of Prime Minister Mohamed Shia Sudani, while stressing his readiness to meet Citizens' needs of foreign currency.End29/h

 
 
 

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22-12-04

A specialist "evaluates" the decision to increase the sales of the Central Bank: an initial step to return the old rate-

Economy|Today, 21:12 | 

    

 

+A-Specialist "evaluates" the decision to increase sales of the Central Bank: an initial step to return the old price - » Baghdad Today News AgencyA

 

Today - Baghdad

Economist Amjad Lafta confirmed on Sunday that the Central Bank's decision to increase dollar sales will contribute to reducing the value of the dollar against the dinar.

He said in a statement to (Baghdad Today), that "the decision to increase dollar sales was issued based on the recommendations of the Prime Minister when he met recently with the Governor of the Central Bank," stressing that "this decision is right as it comes within the government's direction to reduce the value of the dollar to maintain the stability of the country's economy and gradually return the price of the dollar to previous levels."

He added, "There are many ways to devalue the dollar and the decision of the central bank is one of these ways that will contribute to reducing the price of the dollar."

"There is an eternal problem represented by the existence of corruption mafias that lurk and exploit opportunities through currency trading and price manipulation, so the government must combat these mafias that work to increase the exchange rate," he said.

He pointed out that "Law 56, which defines the powers of the Central Bank, allowed the bank to take decisions that suit the stability of the economic situation in the country."

 

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Shafaq News/ Iraq's central bank has decided to boost its forex sales in its semi-daily auction in a bid to restore the Iraqi dinar's former exchange rate against the US dollar.

On December 19, 2020, the Central Bank of Iraq (CBI) increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for a decline in oil revenue due to low crude prices.

 

 

The devaluation decision came as a preemptive move to prevent "draining Iraq’s foreign reserves" and help the government to secure public servants' salaries.

After the reconsideration of the exchange rate, a strong current emerged led by a number of politicians, most notably the now-Prime Minister Mohammad Shia al-Sudani, who called for restoring the dollar exchange rate to its previous value. Al-Sudani had argued at the time that a devaluation of the dinar would trigger a "revolution of the hungry."

CBI said in a press statement today, Sunday, that it decided to increase "the weekly share of US dollar cash sales" in a bid to commensurate to the increasing demand in the local market.

The bank, according to the statement, will be able to find legitimate deals and credit cards at a rate of 1,470 dinars to one dollar.

Former Prime Minister Mustafa al-Kadhimi's government was unable to remedy the negative implications of the dinar devaluation, in particular those affecting the poor classes. The government had allocated more than $6 billion to support vulnerable groups, but parliament reduced it to less than $1 billion.

The central bank warned that reconsidering the exchange rate would confuse local markets, threaten investments, lead to economic stagnation, weaken confidence in monetary policy and the value of the local currency, increase speculation in foreign currencies and promote hoarding of foreign currencies as a safe haven.

It noted that the old exchange rate provided imported goods and services with a competitive advantage, which prevented the advancement of local products.

Economists had warned against restoring the dinar exchange rate to its previous rate in the coming days, arguing this measure would create problems that cannot be addressed during the next two years.

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Newspapers follow the reactions and criticesms of the Freedom of Expression and Demonstration Law. and the rise in the dollar exchange rate

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Baghdad/Nina/ The newspapers published in Baghdad followed today, Monday, the fifth of December, the reactions and criticisms of the law on freedom of expression, demonstration and peaceful assembly, and the rise in the dollar exchange rate. and other issues.On the freedom of expression law, Al-Sabah newspaper, which is published by the Iraqi Media Network, polled the opinions of activists and legal experts.

In an interview with the newspaper, academic and political activist Fares Hizam accused the current parties of adopting "the methods of the Baath Party grave, by punishing those who demonstrate against them," noting that "linking the demonstration to the approval of the head of the department means that it is subject, after the adoption of the law, to the mood of the governor or the mayor or their representatives, and therefore it is subject to the mood of the parties they follow, and as a result, no demonstration will come out that the parties do not agree to.”
Hizam added: "This law is nothing but a circumvention of democracy and the rights stipulated in the articles of the constitution regarding freedom of expression and demonstration, and this calls for the struggle and struggle of all free people against its adoption."
He pointed out that "this law calls for a position of independent deputies who came out of the womb of protests to prevent its passage, and to return the issue of requiring government approval to go out with demonstrations to the notice and not to submit a request." for approval," noting that "the law issued under the head of the Coalition Authority Paul Bremer in 2003 regarding the demonstrations required notification of government agencies 24 hours before the exit of any demonstration, which is different from submitting a request for approval altogether, and all that is happening now is a circumvention of democratic process.

Legal expert Ali al-Tamimi said that the draft law on "freedom of expression, demonstration and peaceful assembly" consists of 17 articles, starting with definitions, then freedom of assembly, freedom of expression and penalties.
Al-Sabah quoted him as saying: “The draft law obliges ministries to disclose the database to the public, and that complaints about this should be before the Human Rights Commission, and the first was to be before the judiciary in accordance with the principle of separation of powers.”
He pointed out that "the draft did not refer to the right to strike and sit-in, despite being part of the right to meet stipulated in Article 38 of the Iraqi Constitution by consensus of constitutional law scholars, nor did it define the meaning of public order and public morals that were repeated in the draft, according to which it was permissible to freedom restrictions in accordance with Article 12 of this draft, which violates Article 46 of the Iraqi Constitution.”

On the rise in the dollar exchange rate, the newspaper / Al-Zaman / said: “Citizens expressed their dissatisfaction with the rise of the dollar above the ceiling set by the Central Bank, and exceeded the threshold of 150 thousand dinars per 100 dollars, after the reflection of its repercussions on food prices.”
Economist Hamza Louay said in a statement to the newspaper: "The exchange outlets do not control the prices and determinants of the Central Bank, and manipulate currency exchange rates."
He added: “The problem lies in the manipulation of the owners of exchange centers and shops, and weak control over the currency trading market,” stressing: “There is a new phenomenon related to banks contributing to the currency auction, and destinations that affected the introduction of currency in the local market, which leads to a decline in the bank's sales of currency, which was available through the auction."

He pointed out: "The parties benefiting from raising prices in the absence of real control over the change in prices, which contributed to the continuation of the crisis so far," noting: "The political statements mainly affected this matter."
The expert, Majid Al-Aqabi, according to Al-Zaman: “Prime Minister Mohammed Al-Sudani instructed to reduce the exchange rate of the dollar, and this was followed by statements to raise salaries instead of reducing it, according to the advice of Experts in finance and the Central Bank, who in turn proposed raising salaries instead of reducing the dollar to solve the problem of poverty and raise the level of income of the citizen.”
He pointed out: "The Sudanese warned of The process of fraud and political fraud, and finding solutions through scientific expertise in universities, institutes and economic thinkers," he said, noting that "the proposals and advice presented by financial and central experts contradict the national project and the interest of the citizen and the poor classes most affected.”

For its part, Al-Zawraa newspaper, which is issued by the Iraqi Journalists Syndicate, said: "The parliamentary finance committee ruled out changing the exchange rate of the dollar against the dinar in the 2023 budget."
A member of the committee, MP Nermin Maarouf, said in an interview with Al-Zawraa: “The 2023 budget is still with the government, and it is expected to be a good budget and different from previous budgets, and it will focus on investment and development projects, to compensate for the absence of the budget for 2022," stressing: "The government was among the priorities of its approach is to approve the general budget as soon as possible."
She added: "According to the leaks, the budget does not include changing the exchange rate of the dollar against the dinar, because the government is not empowered to change the exchange rate, since the Central Bank of Iraq is the body concerned exclusively with drawing monetary policy in accordance with Article 110 / III of the Constitution, and recently confirmed in the report sent to the Parliamentary Finance Committee that there is no intention to make a change to the exchange rate for several reasons mentioned in the report.”

Committee member Ikhlas Al-Dulaimi said, according to Al-Zawraa: “The general budget for 2023 will range from 130 to 140 trillion dinars, and will be sent to parliament within the next two days, specifically before the start of the legislative recess.”
She added: "The government has completed the preparation of the budget, with the exception of some tables that can be developed and determined later in coordination between the Finance Committee and the government."
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Okay you so called Gurus who keep insisting, ignorantly or deliberately misleading, the RV is not in the budget. It never has been in the past and it never will be in the future. It is NOT Parliaments job to raise the exchange rate. So stop with the lies already!!!

She added: "According to the leaks, the budget does not include changing the exchange rate of the dollar against the dinar, because the government is not empowered to change the exchange rate, since the Central Bank of Iraq is the body concerned exclusively with drawing monetary policy in accordance with Article 110 / III of the Constitution, and recently confirmed in the report sent to the Parliamentary Finance Committee that there is no intention to make a change to the exchange rate for several reasons mentioned in the report.”

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Association of Banks: Central Bank actions will return dollar prices to their rates

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News Source/

 

(Iraq NewsEncyclopedia)

The Association of Iraqi Private Banks announced on Monday that the Central Bank's measures to increase the supply of dollars through its approved outlets will lead to the return of exchange rates to their rates quickly.

 

The Association's advisor, Samir Al-Nasiri, said in a statement received by (Al-Oula News) that "the economic and political conditions and their repercussions negatively affect the stability of the monetary system and the financial system, and therefore this will lead to economic instability and market confusion.”

 

Al-Nusairi added, “Several days ago, a new wave of criticism began from some media outlets affected by rumors launched and driven by speculators in the currency exchange market with the aim of creating a state of confusion and instability and trying to drag the money market into instability and thwarting the central bank’s plans to control the target rates for the exchange rate.” The exchange rate, which has remained stable since its adjustment to the new prices of finance, banks and the public.” The letters of guarantee that are currently being executed,” noting that “given the insufficient readiness of the local banks with the start of the trial application of the platform, part of the foreign transfers was postponed, which resulted in a decrease in the volume of sales of the foreign currency sale window.”

 

And he stressed that “another rumor is that the central bank will make a new change to the current price,” explaining that “the central bank has repeatedly announced that there is no intention to change the price at present and explained the negative effects of any change in the price on the national economy, trade exchanges, and local and foreign banking dealings with countries.” the scientist".

 

And he continued, “The exchange rate is determined by the central bank according to the effects and repercussions of the economic reality in a country like Iraq that suffers from challenges, repercussions, economic and financial crises, and a structural and systematic imbalance in managing the economy and money. Monetary, but this cannot be achieved without joint coordination with fiscal policy and other economic sectors, activating the real economy, diversifying sources of national income, and leaving the unilateral economy relying on oil as a major resource that constitutes 93 of the general budget revenues and 57 of the gross domestic product.% of

 

And he emphasized that “those who criticize the central bank must be aware that its measures announced yesterday by increasing the dollar supply through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly.” 

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The Central Bank increases its sales in preparation for returning the old rate!

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Baghdad - Iraq Today:

Economist Amjad Lafta confirmed on Sunday that the Central Bank's decision to increase dollar sales will contribute to reducing the value of the dollar against the dinar.

He said in a statement that "the decision to increase dollar sales was issued based on the recommendations of the Prime Minister when he met recently with the Governor of the Central Bank," stressing that "this decision is right as it comes within the government's direction." to reduce the value of the dollar to maintain the stability of the country's economy and gradually return the price of the dollar to previous levels.

He added, "There are many ways to devalue the dollar and the decision of the central bank is one of these ways that will contribute to reducing the price of the dollar."

"There is an eternal problem represented by the existence of corrupt mafias that lurk and exploit opportunities through currency trading and price manipulation, so the government must combat these mafias that work to increase the exchange rate," he said.

He pointed out that “Law 56, which defines the powers of the Central Bank, allowed the bank to take decisions that are appropriate for the stability of the economic situation in the country.”

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Association of Banks: Central Bank measures will quickly restore dollar prices to their rates
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Economy News - Baghdad

The Association of Iraqi Private Banks announced on Monday that the Central Bank's measures to increase the supply of dollars through its approved outlets will lead to the return of exchange rates to their rates quickly.

"The economic and political conditions and their repercussions negatively affect the stability of the monetary system and the financial system, and therefore this will lead to economic instability and market confusion," the association's advisor Samir Al-Nasiri said in a statement.

"A few days ago, a new wave of criticism began from some media outlets influenced by rumors launched and driven by speculators in the currency exchange market with the aim of creating confusion and instability and trying to drag the money market into instability and thwarting the central bank's plans to control the target rates of the exchange rate, which has remained stable since its adjustment to the new rates for finance, banks and the public," he added.

He pointed out that "speculators took advantage of the decline in dollar sales in the foreign currency sales window, which the Central Bank explained in a statement last week that the reason is the application of a new electronic platform to control external transfers, similar to the current letter of guarantee platform," pointing out that "due to the lack of sufficient preparation for local banks with the start of the pilot application of the platform, part of the foreign remittances have been postponed, which resulted in a decrease in the volume of sales of the foreign currency sales window."

He stressed that "another rumor is that the Central Bank will make a new change to the current rate," explaining that "the Central Bank has repeatedly announced that there is no intention to change the rate currently and explained the negative effects of any change in the rate on the national economy, trade exchanges and local and foreign banking transactions with countries of the world."

He continued, "The exchange rate is determined by the Central Bank according to the effects and repercussions of the economic reality in a country like Iraq that suffers from challenges, repercussions, economic and financial crises, and a structural and systematic defect in the management of the economy and money that the Central Bank does not bear alone because its role is clear, specific and independent focused on stimulating the economy in accordance with the tools and applications of monetary policy, but this cannot be achieved without joint coordination with fiscal policy and other economic sectors, activating the real economy, diversifying sources of national income and leaving the monolithic economy by relying on oil. as a major resource, it constitutes 93% of public budget revenues and 57% of GDP."

"Those who criticize the central bank must be aware that its measures announced yesterday to increase the supply of dollars through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly," he said.


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Added2022/12/05 - 4:12 PM
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Association of Banks: Central Bank measures will lead to the return of dollar exchange rates to their rates quickly

Bagdad (NINA) - The Association of Iraqi Private Banks announced on Monday that the Central Bank's measures to increase the supply of dollars through its approved outlets will lead to the return of exchange rates to their rates quickly."The economic and political conditions and their repercussions negatively affect the stability of the monetary system and the financial system, and therefore this will lead to economic instability and confusion of the market," the association's advisor, Samir al-Nasiri, said in a statement. .

He added that several days ago, a new wave of criticism began from some media outlets affected by rumors launched and driven by speculators in the currency exchange market with the aim of creating a state of confusion and instability and trying to drag the money market into instability and thwarting the Central Bank's plans to control the target rates of the exchange rate, which has remained stable since its adjustment to the new rates of finance, banks and the public.
He explained that "speculators took advantage of the decline in dollar sales in the foreign currency sales window, which the Central Bank explained in a statement last week that the reason is the application of a new electronic platform to control external transfer, similar to the current letter of guarantee platform," pointing out that "due to the lack of sufficient preparation for local banks with the start of the pilot application of the platform, part of the foreign remittances have been postponed, which resulted in a decrease in the volume of sales of the foreign currency sales window."
"Another rumor is that the central bank will make a new change to the current rate," he said, explaining that "the central bank has repeatedly announced that there is no intention to change the rate now and explained the negative effects of any change in the rate on the national economy, trade exchanges and domestic and foreign banking transactions with countries of the world.”

He pointed out that "the exchange rate is determined by the Central Bank according to the effects and repercussions of the economic reality in a country like Iraq that suffers from challenges, repercussions, economic and financial crises and a structural and systematic defect in the management of the economy and money that the Central Bank does not bear alone because its role is clear, specific and independent focused on stimulating the economy in accordance with the tools and applications of monetary policy, but this cannot be achieved without joint coordination with fiscal policy and other economic sectors, activating the real economy, diversifying sources of national income and leaving unilaterally. The economy, relying on oil as the main resource, constitutes 93% of public budget revenues and 57% of GDP."
"Those who criticize the Central Bank must be aware that its measures announced yesterday to increase the supply of dollars through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly," Nasiri said.
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Government official: The dollar exchange rate will fall and its impact after a week

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2022-12-05 01:36
 

 

A government official confirmed on Monday that the exchange rates of the US dollar against the Iraqi dinar will decline with the Central Bank's decision to increase the weekly quota for banks, exchange and mediation companies, pointing out that the decline will have an impact next week.

 

 

The official told Shafaq News Agency, "The exchange rate of the dollar will decline in the coming days in the local markets, and its impact will be with the beginning of next week," noting that "exchange companies will apply for their share of the dollar today, Monday, by depositing cash in the secretariats of each company and is delivered to the Central Bank, provided that this share of the dollar is delivered during the next week."

 

The official, who preferred not to be named and positioned, added that "the bank's decision came to reduce the gap between the central bank rate, and the dollar prices in the local markets, or what is known as the black market," expecting "the dollar to decline to its previous levels, which were about 147 thousand dinars against 100 dollars."

The Central Bank of Iraq decided, on Sunday, to increase the share of banks, exchange companies and financial intermediaries from the dollar in order to reduce the price of the dollar in the local markets after rising on Sunday to more than 150 thousand dinars against 100 dollars.

The bank suspended 14 banks from entering the auction after U.S. sanctions imposed on these banks for smuggling currency.

 

It is noteworthy that the Central Bank sells dollars in an auction organized daily for banks and brokerage companies in order to finance foreign trade and finance the internal market in dollars, but many economists and politicians have pointed out that there is corruption in the sales of the Central Bank by smuggling hard currency abroad without finding solutions over these years.

 

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Association of Banks: Central Bank measures will restore dollar prices to their rates

Nabaa4 hours ago
One minute
dollar

 

The Association of Iraqi Private Banks announced on Monday that the Central Bank's measures to increase the supply of dollars through its approved outlets will lead to the return of exchange rates to their rates quickly.

 

 

The Association's advisor, Samir Al-Nasiri, said in a statement received by (Al-Oula News) that "the economic and political conditions and their repercussions negatively affect the stability of the monetary system and the financial system, and therefore this will lead to economic instability and market confusion."

 

 

"A few days ago, a new wave of criticism began from some media outlets affected by rumors launched and driven by speculators in the currency exchange market with the aim of creating confusion and instability and trying to drag the money market into instability and thwarting the Central Bank's plans to control the target rates of the exchange rate, which has continued to be stable since its adjustment to the new rates of finance, banks and the public," he said. The Central Bank said in a statement last week that the reason is the application of a new electronic platform to control external transfers, similar to the current implementation of letters of guarantee, pointing out that "due to the lack of sufficient preparation for local banks with the start of the pilot application of the platform, part of the foreign remittances have been postponed, which resulted in a decrease in the volume of sales of the foreign currency window."

 

 

He stressed that "another rumor is that the Central Bank will make a new change to the current rate," explaining that "the Central Bank has repeatedly announced that there is no intention to change the rate currently and explained the negative effects of any change in the rate on the national economy, trade exchanges and local and foreign banking transactions with countries of the world."

 

 

He continued, "The exchange rate is determined by the Central Bank according to the effects and repercussions of the economic reality in a country like Iraq that suffers from challenges, repercussions, economic and financial crises, and a structural and systematic defect in the management of the economy and money that the Central Bank does not bear alone because its role is clear, specific and independent focused on stimulating the economy in accordance with the tools and applications of monetary policy, but this cannot be achieved without joint coordination with fiscal policy and other economic sectors, activating the real economy, diversifying sources of national income, and leaving the mono-economy based on Oil as a major resource constitutes 93% of public budget revenues and 57% of GDP."

 

 

"Those who criticize the central bank must be aware that its measures announced yesterday to increase the supply of dollars through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly," he said.

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Cash sales of dollars to the citizen traveler

  
 December 05, 2022
Cash sales of dollars to the citizen traveler

 


As a result of the high level of global inflation and the high cost of travel and living worldwide, and to meet the demands of citizens traveling to suit their needs of foreign currency while traveling

The Central Bank of Iraq decided to increase the ceiling of dollar sales described inparagraph (IV/13) of the controls for the sale and purchase of foreign currency for the year2021to become (5000) dollars for the citizen traveling or the employee sent during one month.

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The Governor of the Central Bank of Iraq receives the British Ambassador in Baghdad

 
The Governor of the Central Bank of Iraq receives the British Ambassador in Baghdad

 



His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhif, received on Tuesday, His Excellency the British Ambassador to Iraq Mark Bryson Richardson. During the meeting, His Excellency welcomed HE the Ambassador, stressing the strengthening of banking and economic relations between the two friendly countries.
 
His Excellency stressed that the Central Bank of Iraq has played a major role during the past years in revitalizing the Iraqi economy, pointing out that the banking sector in Iraq is looking forward to strengthening cooperation between the two countries in the fields of banking and combating money laundering and terrorist financing.
 
For his part, British Ambassador Mark Bryson Richardson praised the initiatives of the Central Bank of Iraq and its role in providing renewable energy loans, which enhances Iraq's commitment to the climate change agreement.

Central Bank of Iraq
Media
Office 6 December 2022
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Deputy: Iraq has a financial abundance and the governor of the bank refuses to restore the dollar exchange rate as it was previously

Deputy: Iraq has a financial abundance and the governor of the bank refuses to restore the dollar exchange rate as it was previously
Last Updated:6 December 2022 - 2:00 PM

Baghdad / Iraq News Network - accused a member of the House of Representatives for the bloc "Asaib" parliamentary Rafik Salhi, Tuesday, the Governor of the Central Bank of Iraq insist on keeping the exchange rate of the US dollar against the dinar, hinting at the possibility of questioning the governor under the dome of Parliament in the event that the exchange rate is not returned as it was in the past. The Governor of the Central Bank is still insisting on raising the exchange rate of the dollar, and restricting citizens, especially low-income people," he added, "We have followed with great surprise during the past days regarding the inability of the Central Bank to change the exchange rate of the dollar, and that the decision was taken in consultation with the International Monetary Fund, and we do not know whether the Governor of the Central Bank lives in Iraq or in another country, which is not aware of the size of the damage suffered by the simple citizen over the past two years, In a crazy rise in the prices of consumer goods, which added another burden on the shoulders of the poor."Al-Salihi said, the mortgage of the Iraqi economy to the dictates of the International Monetary Fund represents a dangerous turn that affects the future of the country and on it.The parliamentarian also called on the government and the governor of the Central Bank to speed up the reduction of the dollar exchange rate on what it was previously, adding that the House of Representatives is the final word, otherwise it is possible to correct the decision by the legislative authority even if it is necessary to amend the Central Bank Law. MPs are required to have a moral and constitutional responsibility and work to correct the decision to raise the dollar exchange rate and look at the magnitude of the injustice and damage caused to millions of poor and incomeless people. Al-Salhi pointed out that if the governor of the Central Bank does not respond to restore the exchange rate of the dollar to the old rate, we have no choice but to collect parliamentary signatures to question the governor of the Central Bank inside the dome of parliament. In late 2020, the Central Bank of Iraq decided to reduce the value of the local dinar against the dollar from 1190 dinars to 1450 dinars, to contain a financial crisis that Baghdad was suffering from due to a significant decline in oil prices due to the repercussions of the Corona pandemic. The decision caused prices in local markets to rise by more than 20 percent, which negatively affected low-income and middle-class people.

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Parliamentarian attacks central bank governor for "insisting" on raising exchange rate, threatens questioning

1670321660860.jpg
2022-12-06 03:09
 

 

Shafaq News / Member of Parliament for the parliamentary bloc "Sadiqoun" Rafiq Al-Salhi, on Tuesday, accused the Governor of the Central Bank of Iraq of insisting on keeping the exchange rate of the US dollar against the dinar, hinting at the possibility of questioning the governor under the dome of Parliament in the event that the exchange rate is not restored as it was in the past.

Al-Salhi said in a press conference held today, that "with the rise in crude oil prices and the growth of oil revenues, the Governor of the Central Bank is still insisting on raising the dollar exchange rate, and restricting citizens, especially low-income people."

 

 

He added by saying, "We have followed with great surprise during the past days regarding the inability of the Central Bank to change the exchange rate of the dollar, and that the decision was taken in consultation with the International Monetary Fund, and we do not know whether Mr. Governor of the Central Bank lives in Iraq or in another country, which is not aware of the size of the damage suffered by the simple citizen over the past two years, in a crazy rise in the prices of consumer goods, which added another burden on the shoulders of the poor. "

Al-Salhi considered that the mortgage of the Iraqi economy to the dictates of the International Monetary Fund represents a dangerous turn that affects the future of the country and on it.

The parliamentarian also called on the government and the governor of the Central Bank to speed up the reduction of the dollar exchange rate to what it was previously, adding that the House of Representatives has the final say, otherwise it is possible to correct the decision by the legislative authority even if it is necessary to amend the Central Bank Law.

He went on to say that the House of Representatives is required to have its moral and constitutional responsibility and work to correct the decision to raise the exchange rate of the dollar and look at the magnitude of the injustice and damage caused to millions of poor and incomeless people.

Al-Salhi pointed out that if the governor of the Central Bank does not respond to restore the exchange rate of the dollar to the old rate, we have no choice but to collect parliamentary signatures to question the governor of the Central Bank inside the dome of parliament.

 

In late 2020, the Central Bank of Iraq decided to reduce the value of the local dinar against the dollar from 1190 dinars to 1450 dinars, to contain a financial crisis that Baghdad was suffering from due to a significant decline in oil prices due to the repercussions of the Corona pandemic.

The decision caused prices in local markets to rise by more than 20 percent, which negatively affected low-income and middle-class people.

 

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A new high. Dollar rises above 150,000 dinars on Baghdad Stock Exchange

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Shafaq News / The exchange rates of the US dollar against the Iraqi dinar rose today, Tuesday, on the main stock exchange in the capital, Baghdad, to exceed 1500 dinars against one dollar.

The correspondent of the Shafaq News Agency said that the exchange of struggle and central Harithia in Baghdad, recorded at three o'clock this afternoon 150,200 Iraqi dinars for 100 US dollars.

 

 

This morning, prices were 149,550 Iraqi dinars for 100 US dollars.

Our correspondent pointed out that the buying and selling prices rose in exchange shops in the local markets in Baghdad, where the selling price reached 150,500 Iraqi dinars per 100 US dollars, while the purchase prices reached 150,000 Iraqi dinars per 100 US dollars.

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"Contrary to expectations". Baghdad and Erbil stock exchanges close significantly higher in dollar prices

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2022-12-06 07:11
 

 

 

Shafaq News / The exchange rates of the US dollar against the Iraqi dinar rose "significantly", on Tuesday, with the closure of the main stock exchange in Baghdad, and Erbil, the capital of the Kurdistan Region.

 

 

 

The correspondent of the Shafaq News Agency, that the central stock exchanges of struggle and Harithia closed in Baghdad, this evening, at an exchange rate of 150,150 dinars against 100 dollars, while the prices this morning 149,550 dinars.

Our correspondent pointed out that the buying and selling prices in exchange shops in local markets in Baghdad stabilized, with the selling price reaching 150,500 dinars, while the purchase prices reached 150,000 dinars per 100 dollars.

In Erbil, the dollar also rose with the closure of the stock exchange, where the selling price reached 150,100 dinars per 100 dollars, and the purchase price was 150,000 dinars.

It is noteworthy that the Central Bank of Iraq decided last Sunday to increase the share of banks and exchange companies from dollar sales in order to reduce dollar prices in the local markets, which recently rose significantly from what the bank sells to these banks.

 

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