Local money changers stop selling and buying dollars in Iraq

[6ly410]

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[6ly410]

An angry parliamentary statement regarding the profit margin of banks from the sale of dollar currency auction

2022.12.13 - 20:07

An angry parliamentary statement regarding the profit margin of banks from the sale of dollar currency auction (nasnews.com)

li

  

Baghdad - Nas  

MP for the National Sindh bloc, Aziz Sharif Al-Mayahi, on Tuesday, called on the Central Bank to clarify its measures to reduce cases of corruption in the file of selling remittances to private banks and the subsequent clear rise in the prices of food commodities and medicines in the local market, and to find alternative urgent ways to control the exchange rate, warning of parliamentary measures within a maximum period of a week in the event of continued confusion and indifference in the work of the Central Bank.  

  

 

 

Al-Mayahi said in a statement received by "Nas" a copy of it, (December 13, 2022), that "the selling price of the Central Bank for transfers to banks is 1460, but these banks sell these transfers for 1533 dinars with a profit margin of up to 73 points per transfer, meaning a profit of 70 million Iraqi dinars per million dollars," noting that "this obscene profit and clear corruption was the victim of the simple citizen through the high prices of food commodities, medicines and other basic life necessities, as he does not go to The state treasury, but into the pockets of the powerful."  

  

Al-Mayahi added, "The Central Bank's continued spectator and silence about this corruption and waste of public money, despite the fact that it is an important part of their duties, makes them in a position of responsibility before the legislative authority and makes us obligated to give the Central Bank and its administration a week to address this confusion before going to other options within the dome of Parliament to defend the money of the Iraqi people and the wealth of the country," calling at the same time the Integrity Commission and the supervisory committees to "take urgent and immediate action to stop what is happening in the auction of the sale of currency of chaos The poor classes of citizens paid for it and the harshest measures were taken against price manipulators."  

  

"We also call on the Prime Minister to open the file of currency auction, exchange rate and chaos in the markets within the agenda of the next cabinet meeting and to take immediate and urgent measures to address this file, which has become an intolerable door from the doors of corruption and waste of public money," he said.  

[6ly410]

Dollar approaches 1520 dinars on the Iraqi stock exchange

2022.12.13 - 14:52

Dollar approaches 1520 dinars on the Iraqi stock exchange (nasnews.com)

 

 

  

Baghdad - Nas   

NAS publishes the dollar exchange rates on the local stock exchange on Tuesday evening (December 13, 2022), according to the monitoring of specialists.   

  

   

  

Baghdad - Bursa Alkifah  

151,350  

.....  

The price in most exchanges  

Buy 150,750  

Sell 151,750  

  

-------------  

Sulaymaniyah  

151.000  

[Fairways&Greens]

3 hours ago, 6ly410 said:

Continuous update. Dollar continues to fly in Iraqi markets

Taking in all the Dinar they can. Off the streets and from under mattresses. One of the effects of the current market over there. Maybe this is a positive…imagine how much they can suck in over 2 or 3 weeks. 

Edited December 13, 2022 by Fairways&Greens
Grammar

[6ly410]

Dollar continues to rise in Baghdad and the Kurdistan Region

Dollar continues to rise in Baghdad and the Kurdistan Region (shafaq.com)

2022-12-14 00:07

 

 

Shafaq News / The exchange rates of the US dollar against the Iraqi dinar rose today, Wednesday, on the main stock exchange in the capital, Baghdad, and in the Kurdistan Region.

The correspondent of the Shafaq News Agency said that the central exchanges of Al-Kifah and Al-Harithiya in Baghdad recorded this morning 151,250 Iraqi dinars for 100 US dollars.

 

 

While the prices yesterday, Tuesday, were 150,300 Iraqi dinars against 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 151,750 Iraqi dinars per 100 US dollars, while the purchase prices reached 150,750 Iraqi dinars per 100 US dollars.

In Erbil, the capital of the Kurdistan Region, the dollar prices on the stock exchange also increased, as the selling dollar price reached 151,200 dinars per 100 US dollars, and the purchase price reached 151,100 dinars per 100 US dollars.

[6ly410]

Economy news

A new rise in the exchange rates of the dollar in the Iraqi markets today

Posted 38 seconds ago

 

A new rise in the exchange rates of the dollar in the Iraqi markets today (iraqakhbar-com.translate.goog)

 

news source /Sumerian Channel

 

The dollar exchange rate has risen, on the local stock exchange.

 

The selling price of the dollar recorded 151,500 dinars per 100 dollars, while the purchase price of the dollar recorded 151,300 dinars per 100 dollars.

It is noteworthy that on December 19, 2020, the Central Bank of Iraq officially announced the adjustment of the exchange rate of the US dollar to be 145 thousand dinars for every 100 dollars, according to the state budget for 2021 approved by the Council of Representatives .

[6ly410]

Dollar rises in Iraqi markets with an unprecedented number

The rise of the dollar in the Iraqi markets by recording an unprecedented number | Economy | Dijlah Satellite Channel

 

 - 14-12-2022 10:26 AM - Views: 3918

 

The dollar exchange rates rose on Wednesday on the local stock exchange.

The selling prices of the dollar recorded 151,500 dinars per 100 dollars, while the purchase prices of the dollar recorded 151,300 dinars per 100 dollars.

The selling prices of the dollar were recorded yesterday, Tuesday, 150,300 dinars per 100 dollars, while the purchase prices of the dollar recorded 150,100 dinars per 100 dollars.

[6ly410]

 

[rvmydinar]

15 hours ago, 6ly410 said:

"the selling price of the Central Bank for transfers to banks is 1460, but these banks sell these transfers for 1533 dinars with a profit margin of up to 73 points per transfer, meaning a profit of 70 million Iraqi dinars per million dollars"

That's how all dinar dealers make a profit while waiting for the IQD to rv. Can't imagine how wealthy the dinar dealers make a huge profit ( for every million buck , they make a profit of 70 million dinars ).

[Theseus]

On 12/11/2022 at 4:09 AM, screwball said:

Sorry this is incorrect shabib has said in video on YouTube that they can sustain a 5$ plus rate, do I think they will come out that rate, no but we will have to wait and see…

Doesn't matter given all the reserves, gold and other reserves, Iraq cannot sustain a $5 rate. It can barely afford a $1.81 rate. Add up all the reserves (convert gold to dollars using tonnes conversion rate) and then divide by the totality of Iraq's currency, circulated and uncirculated which is roughly around ~41 trillion dinars, give or take. It comes out approximately around 1.81. It might have gone up or down a few cents since I last calculated that rate. 

[Theseus]

On 12/13/2022 at 12:04 AM, screwball said:

hmmm they mention dollar exchange rate?

You might want to finish reading the article:

 

The people's demands to return the dollar exchange rate to its previous era may not be achieved, especially with the catastrophic mistakes caused by private banks and the great role they play in demonizing the Iraqi economy through money laundering and currency smuggling abroad, which delays the dream of return until the government takes control of these banks.

[rvmydinar]

37 minutes ago, Theseus said:

It comes out approximately around 1.81. 

I can live with that rate as long as they just implement it ( more action ) and no more talk talk talk BS and then delay and delay it for many years.

[rvmydinar]

37 minutes ago, Theseus said:

The people's demands to return the dollar exchange rate to its previous era may not be achieved

Is it a good or bad news for dinar holders?

[6ly410]

With the rise of the dollar. High food prices and markets free of shoppers

With the rise of the dollar. High food prices and markets free of shoppers (shafaq.com)

2022-12-14 03:30

 

 

Shafaq News / The exchange rate of the US dollar against the Iraqi dinar is witnessing a continuous and remarkable rise, which led to disruption of commercial movement in local markets, and contributed to the rise in food and consumer prices, especially wholesale markets in the Jamila commercial area in Baghdad.

 

 

The area, along with the large Shorja market in the Iraqi capital, is now almost empty of shoppers, which some traders and economists see as linked to the rise in the dollar exchange rate in parallel (black) markets.

One of the wholesalers in the beautiful area, named Mohammed Abdul Hussein, told Shafaq News Agency that "the rise in dollar prices certainly affected the prices of foodstuffs, whether rice, flour or vegetable oils," noting that "these materials are imported in dollars and therefore the sale is also in dollars."

He added that "the trader is not affected in terms of high dollar prices as much as the buyer is a retailer and citizens," pointing out that "the only damage to the trader will be in the lack of purchase quantity as a result of this rise and the reluctance of some to buy because they expect prices to fall in the future, which puts a beautiful market almost empty of shoppers today."

For his part, financial and economic expert Hilal Al-Taan told Shafaq News Agency that "any rise in dollar exchange rates directly affects the market," noting that "currency traders and the black market exist and exploit opportunities in the absence of government control over the markets, and therefore this rise will affect citizens, especially the low-income and poor classes."

Al-Taan pointed out that "this rise affects the activity of the market and its movement, because the citizen will avoid buying because of this rise," stressing that "the best solution to reduce dollar prices is the direction of the Central Bank to sell dollars directly to citizens through bank branches spread at specific prices to reduce the gap between what the bank sells and what is currently in the markets."

The dollar exchange rate on the main stock exchange in Baghdad has risen to more than 152,000 dinars for every $100, while the central bank sells one dollar for 1,460 dinars.

[6ly410]

 

[6ly410]

 

[6ly410]

economy

 

Presidency of Parliament: Quick and decisive measures to stop the escalation in the price of the dollar

2022.12.14 - 14:29

Presidency of Parliament: Quick and decisive measures to stop the escalation in the price of the dollar (nasnews.com)

 

 

Baghdad - Nas  

The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, announced on Wednesday that quick and decisive measures will be taken to stop the escalation in the dollar exchange rate.  

  

  

  

Al-Mandalawi said in a tweet followed by "NAS", (December 14, 2022), that "to protect citizens and prevent its reflection on the Iraqi markets, the measures that will be taken by us, the Prime Minister and the Central Bank will be quick and decisive in stopping the escalation in the dollar exchange rate."  

  

The dollar exchange rate in the local markets in Sulaymaniyah recently recorded a new high, as the selling price reached 151,900 dinars per 100 dollars.  

[6ly410]

Economy news

The Baghdad Stock Exchange closed at a new high at the exchange rate of the dollar

Posted 17 seconds ago

 

 

Baghdad Stock Exchange closes on a new rise in the dollar exchange rate - Iraq News (iraqakhbar-com.translate.goog)

 

s source /Iraqi media news agency "INA"

 

Baghdad

The Baghdad Stock Exchange closed, this afternoon, its session with a new high at the exchange rate of the dollar.

Our correspondent said, "The Baghdad Stock Exchange closed at an exchange rate of 152,000 dinars for buying a category of 100 dollars and 152,500 for sale."

He added, "The prices in the rest of the provinces were close to the Baghdad Stock Exchange."

T/M.M

[6ly410]

 

 

Al-Mandalawi: Quick measures to stop the escalation of the dollar exchange rate

economy

Ultra Iraq

 

Al-Mandalawi: Quick measures to stop the escalation of the dollar exchange rate (ultrasawt.com)

14-Dec-2022

DOLLAR EXCHANGE RATE RISES IN IRAQ (FACEBOOK)

 

Ultra Iraq - Editorial Team

On Wednesday, December 14, 2022, First Deputy Speaker of the House of Representatives Mohsen al-Mandalawi revealed swift and decisive measures that will be taken to stop the escalation in the exchange rate of the dollar against the dinar.

Al-Mandalawi said in a tweet on Twitter followed by "Ultra Iraq", that "to protect citizens and prevent its reflection on the Iraqi markets, the measures that will be taken by us and by the Prime Minister and the Central Bank will be quick and decisive in stopping the escalation in the dollar exchange rate."

On Wednesday, the central bank recorded a rise in its sales of the currency in cash form, to more than $ 62 million, and by 45% of the total sales.

The Central Bank announced raising the weekly quota of dollar cash sales, in order to control exchange rates, but exchange rates reached more than 152 thousand dinars per hundred dollars.

 

[6ly410]

"Swift and decisive" action. "Important" position on parliament on dollar crisis

| Policy Today, 14:46 | 

    

"Swift and decisive" action. "Important" position of parliament on the dollar crisis » Baghdad Today News Agency

 

+A-A

 

Baghdad Today - Baghdad

First Deputy Speaker of the House of Representatives Mohsen al-Mandalawi announced on Wednesday the parliament's intention to take "quick and decisive" measures on the crisis of the dollar's rise.

Al-Mandalawi said in a tweet followed by (Baghdad Today) "To protect citizens and prevent its reflection on the Iraqi markets, the measures that will be taken by us and by the Prime Minister and the Central Bank will be quick and decisive in stopping the escalation in the dollar exchange rate."

Recently, parliamentary demands were issued to the government to explain the measures taken to compensate for the decrease in the value of salaries as a result of the rise in the exchange rate of the dollar against the dinar.

It is noteworthy that the rise in the exchange rate of the dollar greatly affected the economic situation of citizens, which requires government and parliamentary measures and decisions to prevent instability and the devaluation of the Iraqi dinar.

 

 

[6ly410]

 

 

Planning: There is no agreement to change the dollar exchange rate

Economic Agency News - Planning: There is no agreement to change the dollar exchange rate (economy-news.net)

   

 

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Economy News - Baghdad

The Ministry of Planning revealed on Wednesday the issuance of directives from Prime Minister Mohamed Shia Al-Sudani related to addressing the effects of changing the exchange rate of the dollar.

"Prime Minister Mohamed Shia al-Sudani issued directives to contain the negative effects of changing the exchange rate of the dollar by providing job opportunities, addressing minimum wages, protecting the poor and marginalized, and increasing attention to the food basket," said Undersecretary of the Ministry of Planning Maher Hammad Johan.

Johan added in an interview with the official news agency, that "the effects of changing the exchange rate are not all negative," stressing "the absence of any agreement, whether in the House of Representatives or in the Central Bank to change the exchange rate."

---

Views 214

Added 2022/12/14 - 2:42 PM

Update 2022/12/14 - 7:03 PM

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[6ly410]

Parliament announces its move to stop the crazy rise of the dollar

Posted 20 seconds ago

Parliament announces its move to stop the insane rise of the dollar (iraqakhbar-com.translate.goog)

 

News Source /Iraq Today Agency

News Source /

 

Baghdad - Iraq Today:

First Deputy Speaker of the House of Representatives Mohsen Al-Mandalawi announced on Wednesday that quick and decisive measures will be taken to stop the escalation in the dollar exchange rate.

Al-Mandalawi said in a tweet that "to protect citizens and prevent its reflection on the Iraqi markets, the measures that will be taken by us, the prime minister and the Central Bank will be quick and decisive in stopping the escalation in the dollar exchange rate.”

[6ly410]

woh

[6ly410]

Mazhar Saleh: The rise in the price of the dollar is temporary and will fall soon

• Today 19:25 Mazhar Saleh: The rise in the price of the dollar is temporary and will fall soon| Information (almaalomah-me.translate.goog)

Information/ Private.

The economic advisor to the Prime Minister, Mazhar Mohamed Saleh, considering the rise in dollar exchange rates a "temporary phenomenon" and not a problem in the adequacy of foreign reserves, while stressing that the new measures have imposed a restriction or discipline on the supply offoreign currency.

Saleh said in an interview with the agency / information /, that "what is happening from the rise in the exchange rate in favor of the dollar is not caused by a problem in the adequacy of foreign reserves as a force that intervenes in the exchange market and provides sufficient supply to meet the demand for foreign exchange.”

He added, "The rises that occurred are a temporary phenomenon dictated by regulatory conditions in the procedures for conducting external transfer requests (submitted by local banks) on foreign currency," noting that "work was done a while ago with an advanced (electronic) platform linking the transfer request by banks." with correspondents from international banks and relevant global compliance bodies simultaneously.

Al-Sudani's economic advisor explained: "During the start of the experiment a few weeks ago, it became clear that there were shortcomings and information deficiencies that were not consistent with the governance of the flow of transfers through the global banking system, which led to some of them being returned again or rejected in order to complete the standard submission requirements and follow the standard foundations in disclosing the final beneficiary and other things." Banking Disclosure and Compliance Requirements.

Mazhar pointed out that "it takes some time to reorganize applications and their consistency with the global requirements for transfer through the digital platform, which has become the new tool in dealing with the window of the Central Bank of Iraq for the sale and purchase from abroad." currency.”

Earlier in the day, the dollar exchange rate recorded an unprecedented high when the 100 US dollars reached more than 152 thousand Iraqi dinars, which affected the anger of the Iraqi people who were hoping for the return of dollar prices to their previous era.

[6ly410]

Al-Skeini: US interventions raised dollar exchange rates

• Today 18:15
• Al-Skeini: US interventions raised the exchange rates of the dollar | Information (almaalomah-me.translate.goog)

Information / Special.

State of Law Coalition leader Ibrahim al-Skeini on Wednesday accused America of interfering in the policy of the Central Bank by removing some banks from the currency auction, while stressing that it seeks to create tension in the government of Mohammed al-Sudani.

Al-Skeini said in an interview with Al-Maalouma that "the reason for the rise in dollar exchange rates these days came because of America's interventions in removing some banks from dealing with the Central Bank within the auction of the sale of currency," stressing that "the Sudanese government will control this rise in the coming days to return it to its former state."

He added, "America's policy lies in creating tensions indirectly against the government of Mohammed Shia al-Sudani," pointing out that "there are other efforts that have been observed to strike the government of Sudani."

"America sees itself as a guardian of the people in imposing their own interests through the policies it pursues and the decisions it issues," he said.

Earlier in the day, the dollar exchange rate recorded an unprecedented high with the arrival of 100 US dollars to more than 152 thousand Iraqi dinars.