Demonstrations in central Baghdad calling for a reduction in the dollar (photos)

[6ly410]

Iraqis in Baghdad protest devaluation of dinar

ERBIL, Kurdistan Region - Hundreds of Iraqis protested on Wednesday near the Central Bank in Baghdad against the rapid devaluation of the Iraqi dinar and called on the government to act to reverse the process. 

The protesters rallied to voice concern against Iraq’s worsening currency which has seen the prices of many goods surge, as public servants continue to suffer with a reduced salary from the drop in currency value. 

Iraqi Prime Minister Mohammed Shia’ al-Sudani - who has vowed to control the unstable exchange rate - sacked the governor of the country’s Central Bank on Monday, replacing Mustafa Ghalib Makhif with Ali Mohsen al-Alaq, who will serve as the acting governor. 

“The rise of the dollar came as a hit to the poor, to the lower classes. The poor do not have a voice except for these people who protest for them … I want to make it clear that the government that accepts this situation is not an Iraqi government, but a subordinate one, one of political parties and parties in Iraq are an epidemic,” Firyal al-Husseini, an independent activist from Karbala, told Rudaw’s Mustafa Goran at the protest site.

 

Iraqi protest the devaluation of the Iraqi dinar in Baghdad, Iraq, on January 25, 2023. Photo: Rudaw

The exchange rate of one USD reached 1,670 IQD in the currency markets of Iraq and the Kurdistan Region on Friday, continuing the massive depreciation of the Iraqi currency in recent weeks. The official rate set by Baghdad is 1,470 IQD for $1. 

The dinar trended around 1,610 to the US dollar on Wednesday. 

Sudani on Sunday issued a number of decisions to control the fluctuation of the Iraqi dinar’s exchange rate and to counter the depreciation. 

Some of the decisions taken to control the fluctuation included financing the Central Bank of the Trade Bank of Iraq with an additional $500 million to open credits for small merchants, opening a new foreign currency selling window for small traders by the Trade Bank of Iraq, authorizing the import of goods for companies registered with the trade ministry, and facilitating the import procedure.

The depreciation of the Iraqi dinar has been attributed to the New Year holidays, the closure of banks, as well as pressure and tighter restrictions from the United States, with Washington maintaining strong control over Iraq’s dollar supplies. 

Iraqi Foreign Minister Fuad Hussein on Friday told Rudaw that an Iraqi delegation will visit Washington in early February to discuss the exchange rate fluctuations with US officials. 

In December 2020, Iraq’s Central Bank announced the devaluation of the country’s currently in an effort to combat a national liquidity crisis and bring in much-needed cash to the government’s coffers.

The devaluation of the dinar struck the public hard as government employees get paid in dinars, meaning they were able to afford less with their salaries given that many imported goods are paid for in dollars. 

[6ly410]

ERBIL — Hundreds of citizens on Wednesday took to the streets in Baghdad to voice their frustration over the plummeting value of the Iraqi dinar against US dollar. The emonstration erupted near the central bank headquarters.

The protesters, hailing from various areas of Iraq, brandished the country's flag and held signs calling for government intervention to stem the decline of the dinar against the dollar, as the slide has resulted in rising prices for imported consumer goods, according to Reuters.

The cause of the dinar's decline can be traced back to tighter controls imposed by the New York Federal Reserve on international transactions involving commercial Iraqi banks in November. These measures were implemented in an effort to curb illegal dollar transfers to neighboring Iran, which is currently under strict US sanctions.

As a result of these regulations, Iraqi banks are now required to use an online platform to disclose transaction details. However, many private banks have yet to register on the platform, leading to a shortage of dollars and an increased reliance on informal black markets in Baghdad to purchase the currency.

This has further exacerbated the dinar's descent, as the demand for dollars far outpaces the available supply.

"Our demands are clear: government must intervene to stop the decline of dinar value because we’re suffering from high prices in local markets," said Asaad Khudhaer, a labourer who came from the southern city of Najaf to attend the protest, as cited by Reuters.

"Stop the neighbours stealing our dollars," one banner read, alluding to Iran.

In response to the growing public discontent, Prime Minister Mohammed Shia' al-Sudani replaced the central bank governor, citing an inability to effectively address the consequences of the new Fed regulations and their impact on the dinar. However, despite a heavy police presence, no clashes or arrests were reported.

[6ly410]

Iraqis demonstrate in Baghdad demanding revaluation of dinar

MENA

4 min read

Dana Taib Menmy

Baghdad

26 January, 2023

Iraqi demonstrators give one week's permit to the Iraqi government to revalue the Iraqi dinar against the US dollar. 

Iraqis demonstrate in Baghdad demanding action on dinar (newarab.com)

Hundreds of people demonstrated in front Iraq's Central Bank headquarters in Baghdad on Wednesday protesting against the recent decline of the Iraqi dinar's value in exchange of the US dollar. [Dana Taib Menmy/TNA]

Hundreds of people demonstrated in front of Iraq's Central Bank headquarters in Baghdad on Wednesday protesting against the recent decline of the Iraqi dinar's value in exchange for the US dollar, which caused prices of imported consumer goods to skyrocket and plunged the oil-rich but corruption-plagued country into a deeper recession.

Hundreds of protesters came from different Iraqi provinces and waved the Iraqi flag, chanting slogans demanding the Iraqi government as well as the parliament to put an end to the dinar's decline.

The protesters have given their demands to the newly appointed governor of Iraq's Central Bank (ICB), giving a one-week deadline for the authorities to deal with the issue otherwise they will take to the streets again.

"We have one peaceful goal, which is the demand of the Iraqis, and it is lowering the exchange rate of dollar-dinar to the previous range, as the poor people are struggling to cope with the current living standards," Hilwa Abas Sarwat, a public sector employee from Babylon province, told The New Arab at the demonstration.

"The Iraqi government can make a decision to raise the rate of the national currency in exchange for dollars, but why do they not make such a decision, maybe they want to make the people starve," Sarwat added. 

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"The decline of dinar value against the dollar and the deterioration of the economic situation forced us to take to the streets. Our demands are: the dinar-dollar exchange rate should be regulated, putting an end to wasting the public funds as well as the foreign currency auctions by the ICB, observing blacklisted banks, and halting the smuggling of the hard currency to Iran," Hussein al-Taee, a political opposition, told TNA.

"Sudani [Iraq's prime minister] cannot stop the currency outflow to Iran because certain private banks - owned by the outlawed militias - are tasked with smuggling dollars and money laundering. Sudani is incapable of putting them accountable because they are more powerful than his government," al-Taee said. 

To restrict the further decline of the dinar, Iraq's prime minister, Mohammed Shia al-Sudani, on Monday replaced the Iraqi Central Bank governor, Mustafa Ghaleb Mukheef, with Muhsen al-Allaq. But the replacement has slightly affected the black currency markets across the country.

"Sunadi, Halbusi enough with pretexts, just lower the dollar rate," demonstrators chanted over loudspeakers, asking Iraqi PM and speaker Mohammed Al-Halbusi of the parliament to take urgent decisions to support the dinar's value against the US dollar.

ICB in December 2020 devalued the dinar, setting the exchange rate at 1,460 dinars per dollar amid an economic crisis caused by low oil prices and the Covid-19 crisis. Previously, the dollar was traded at 1,182 Iraqi dinars.

Iraq, the second-largest crude oil producer in OPEC after Saudi Arabia, mainly depends on income from selling oil in US dollars. The Central Bank of Iraq then sells the US dollar, as well as other foreign currencies in daily auctions.

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Recently, the US Federal Reserve has blacklisted nearly fourteen Iraqi private banks and forced the ICB to launch an online platform in an attempt to limit the overflow of US dollars to countries sanctioned by the US, namely Iran and Syria. 

"But most private banks have not registered on the platform and resorted to informal black markets in Baghdad to buy dollars. This has created dollar shortages as demand has outstripped supply and accelerated the dinar's descent against the greenback," according to Reuters.

"I do not think the Iraqi government is capable of setting the dinar's value at 1,182 because of mismanagement and the lack of expertise. Iraq's financial and economic systems need radical changes, and this needs expertise and advice from giant international companies, the Iraqi authorities should seek advice from them. I think Iraq's government might be able to push the rate at 1,182, as it was during the tenure of former Iraqi PM Mustafa al-Kadhimi," Abdul Ghani Ghasban, editor-in-chief of a weekly Iraqi newspaper Sada al-Taghir [The Voice of Change] and a political analyst, said to TNA.

"These financial and economic crises might lead to a political crisis leading to the collapse of the government because when the people become hungry, will revolt and this fact might not be perceived by the top ruling elites who are benefiting from the ill-begotten money," he added. 

[6ly410]

After a day of protests in front of the Iraqi Central Bank.. the dollar prices stabilized at 161 thousand dinars per paper

Posted 19 seconds ago

 

After a day of protests in front of the Iraqi Central Bank. Dollar prices stabilize at 161 thousand dinars per paper - Iraq News (iraqakhbar-com.translate.goog)

 

news source /Iraq Today Agenc

 

 

Baghdad - Iraq today:

Today, Thursday, the exchange rates of the dollar witnessed stability in the local stock exchange.

The prices are as follows:

The selling price of the dollar is 161,000 dinars per 100 dollars.

The purchase price of the dollar is 160,500 dinars per 100 dollars.

 

[6ly410]

The Presidency of the Council hinders the discussion of the exchange rate

Posted 23 seconds ago

 

The Presidency of the Council hinders the discussion of the exchange rate - Iraq News (iraqakhbar-com.translate.goog)

 

News Source /News

 

Speaker of the House of Representatives, Mohammed Al-Halbousi

(Al-Sumaria) – The crisis of the rise in the exchange rate continues in the country after the demonstrations in the capital in front of the Central Bank, at a time when the deputies of the presidency of the Council did not include the dollar paragraph On the agenda despite the collection of more than eighty parliamentary signatures.

 

It seems that the situation in Iraq is going towards complexity, a mass demonstration in the capital about the rise in the exchange rate coincided with parliamentary statements indicating that the presidency of the Council obstructed the discussion of the file despite the collection of signatures of more than eighty deputies.

 

The popular demonstrations in front of the Central Bank are only the beginning of what is to come, according to observers, who pointed out that things could be further complicated if the situation remains as it is by ignoring the demands of the angry street.

[6ly410]

Analyst: "Dollar demonstrations" may return the Sadrist movement to the political scene - urgent

Analyst: "Dollar demonstrations" may return the Sadrist movement to the political scene - Urgent » Baghdad Today News Agency

Localities | Today, 22:24 | 

    

 

Baghdad Today - Baghdad

Political analyst Adnan Mohammed al-Tamimi said on Saturday that the Sadrist movement may return to the political scene through demonstrations protesting the rise in the dollar exchange rate.

Al-Tamimi said in an interview with (Baghdad Today) that "Iraq is currently going through a stifling economic crisis with the state of chaos in determining the exchange rate of the dollar, and the great burden it caused in pressuring markets in all provinces, by pushing prices up by rates ranging from 15-20%."

He added that "the demonstrations that have emerged recently, may escalate further, if the dollar crisis continues."

He pointed out that "the Sadrist movement is not far from the general scene, and may decide to enter into support for popular demonstrations demanding to address the dollar crisis, and to achieve greater stability for the markets, and here will be the window of its return to the forefront of the political scene in Iraq."

"The Sadrist movement's entry into support for popular demonstrations due to the dollar crisis is very likely, and will push for setting a date for new parliamentary elections within six months, if the demonstrations are strong and include all provinces," al-Tamimi said.

He concluded by saying: "The most prominent threat to the Sudanese government is the further aggravation of the crisis in the economic direction, because it will create great popular anger, if it is known that there are 13 million Iraqis below the poverty line."

[6ly410]

A call for major demonstrations tomorrow in Tahrir Square to reduce the dollar exchange rate

Thursday 02 , February 2023 21:59 |PoliticalViews: 52

A call for major demonstrations tomorrow in Tahrir Square to reduce the dollar exchange rate (ninanews-com.translate.goog)

Baghdad /Nina/ Protest leaders in Baghdad and the provinces called for major demonstrations in Tahrir Square on Friday afternoon to demand a reduction in the exchange rate of the dollar and stop smuggling abroad./End9

[horsesoldier]

20 years on these criminal politicians aren't going to give in or up so easily.

Money laundering &embezzlement, graft & corruption on a grand scale kinda gets into your blood and U sure don't feel like turning off the tap do you ?

[yota691]

Demonstrations in central Baghdad calling for a reduction in the dollar (photos)

Sweeteners

2023-02-03 | 07:47

 

 

3,570 views

Today, Friday, a number of "Tishreen" supporters demonstrated in Tahrir Square in the center of the capital, Baghdad. To demand a decrease in the value of the US dollar against the Iraqi dinar.

Al-Sumaria correspondent said, "Dozens of Tishreen supporters demonstrated in Tahrir Square in the center of the capital."

He added that the demonstrators demanded the devaluation of the dollar against the dinar.

 

 

 

 

 

 

 

 

 

[yota691]

A demonstration in central Baghdad to demand a reduction in the price of the dollar against the dinar

2023-02-03 07:28

 

Shafaq News / A number of citizens demonstrated today, Friday, in Tahrir Square, in central Baghdad, to demand a reduction in the price of the US dollar against the Iraqi dinar.

 

The camera of Shafaq News agency documented the presence of a number of citizens in the square, chanting slogans against the high price of the dollar and its reaching unprecedented levels.

 

In an interview with Shafaq News agency, protesting citizens expressed their dissatisfaction with this rise and its impact on entire segments of society, in light of the lack of realities, with a continuous rise in the price of the US currency against the Iraqi dinar.

 

Calls were launched a few days ago to mobilize this demonstration, while the impact of the dollar's rise was clear in all commercial transactions and the state of economic paralysis hit the Iraqi market.

 

 

[yota691]

Demonstrations begin in central Baghdad to protest against the rise of the dollar

 31 minutes ago

415

 

On Friday, a number of citizens demonstrated in Tahrir Square, in central Baghdad, to protest against the high price of the dollar against the dinar.

Earlier, dozens of citizens demonstrated in front of the Central Bank of Iraq building in the capital, Baghdad, to demand a reduction in the exchange rate of the dollar against the dinar.

Calls were launched a few days ago to mobilize this demonstration, while the impact of the dollar's rise seemed clear in all commercial transactions and a state of economic paralysis hit the Iraqi market and directly affected the citizen, offset by shy government measures in the face of this situation.

The exchange rate on the black market rose during the past days to a record level, exceeding 175 thousand dinars per 100 dollars, while the authorities maintained the exchange rate at the Central Bank.

[yota691]

 

 

 

 

Cut the Republic Bridge in central Baghdad

Sweeteners

2023-02-03 | 09:07

 

918 views

 

Today, Friday, a security source reported that the Al-Jumhuriya Bridge in central Baghdad was cut "temporarily".

The source told Al-Sumaria News, "The security forces cut off the Al-Jumhuriya Bridge, the path heading from the gate of the Ministry of Planning towards Tahrir Square in the center of the capital."

And he stated, "The reason is due to the presence of demonstrations in Tahrir Square."

 

 

Dozens of citizens are demonstrating in Tahrir Square in the center of the capital, Baghdad. To demand a decrease in the value of the US dollar against the Iraqi dinar.

 

 

 

[6ly410]

 

Demonstrations begin in central Baghdad to protest the rise of the dollar (video + photos)

2023.02.03 - 16:09

Demonstrations begin in central Baghdad to protest the rise of the dollar (video + photos) (nasnews.com)

 

 

  

Baghdad - Nas  

A number of citizens demonstrated, on Friday, in Tahrir Square, central Baghdad, to protest the rise in the price of the dollar against the dinar.  

   

  

  

Photos and videos monitored by NAS (February 3, 2023) showed the presence of a number of citizens in the square chanting slogans against the rise in the price of the dollar.  

  

    

  

  

  

Earlier, dozens of citizens demonstrated in front of the Central Bank of Iraq building in the capital, Baghdad, to demand a reduction in the exchange rate of the dollar against the dinar.  

  

The calls were launched a few days ago to mobilize this demonstration, while the impact of the rise in the dollar was clear in all commercial transactions and a state of economic paralysis hit the Iraqi market.  

  

The exchange rate on the black market has risen in recent days to a record high, exceeding 175,000 dinars per $100, while the government has maintained the exchange rate at the central bank.  

[rvmydinar]

On 1/26/2023 at 9:19 PM, 6ly410 said:

Iraqi demonstrators give one week's permit to the Iraqi government to revalue the Iraqi dinar against the US dollar. 

One week to revalue? Wow. This ought to be good. Let's just wait ans see then.

[6ly410]

 

[6ly410]

 

[6ly410]

 

[6ly410]

 

Demonstration in central Baghdad to demand the reduction of the dollar against the dinar

Posted 9 seconds ago

 

Demonstration in central Baghdad to demand the reduction of the dollar rate against the dinar - Iraq News (iraqakhbar-com.translate.goog)

 

News Source /Shafaq News

2023-02-03T12:28:19.000000Z
 

Shafaq News / A number of citizens demonstrated, on Friday, in Tahrir Square, central Baghdad, to demand a reduction in the price of the US dollar against the Iraqi dinar.

The camera of the Shafaq News Agency documented the presence of a number of citizens in the square chanting slogans against the rise in the price of the dollar and its arrival at unprecedented levels.

In an interview with Shafaq News, protesting citizens expressed their dissatisfaction with this rise and its impact on the entire segments of society in the absence of reality with a continuous rise in the price of the US currency against the Iraqi dinar.

The calls were launched a few days ago to mobilize this demonstration, while the impact of the rise in the dollar was clear in all commercial transactions and a state of economic paralysis hit the Iraqi market.

[6ly410]

Demonstration in Hilla to demand a reduction in the price of the dollar

Friday 03, February 2023 17

Demonstration in Hilla to demand a reduction in the price of the dollar (ninanews-com.translate.goog):01 |

 

Hilla /NinaDozens of people from the city of Hilla demonstrated on Friday, in front of the governorate building, to demand a reduction in the price of the dollar, support the local produce and fight speculation in the dollar exchange rates. The demonstrators called on the government to eliminate financial and administrative corruption and implement the promises made by the leaders of the framework. Finished
 

[6ly410]

Can the Iraqi government set a limit on the rise in the value of the US dollar? Today's demonstrations of Iraqi citizens in Baghdad's Tahrir square against the rise of American dollar values Picture: Shvan Jabari - Kurdistan24

[6ly410]

Demonstration in Karbala to demand a reduction in the price of the dollar

Friday 03, February 2023 16:36 

Demonstration in Karbala to demand a reduction in the price of the dollar (ninanews-com.translate.goog)

KARBALA (Nina) -- Hundreds of people demonstrated in the holy city of Karbala, demanding a reduction in the exchange rate of the US dollar against the Iraqi dinar. The demonstration started from Al-Ahrar Square and penetrated the main streets down to the office of the House of Representatives.

The demonstrators implemented slogans denouncing currency smuggling operations, which caused the rise in the price of the dollar. Finished
 

[Dretown39]

With all these demonstrations I guess the citizens are fully aware that the dinar is a valuable currency and should now reflect that!

[6ly410]

Protests against the rise in the price of the dollar in Basra

[6ly410]

 

[6ly410]