Will the agreements signed with the US Treasury reflect positively on the exchange rates?

[Mary B]

Will the agreements signed with the US Treasury reflect positively on the exchange rates?

 

 

money and business

   

 

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Economy News - Baghdad

Today, Thursday, economic expert Abdul Rahman Al-Mashhadani stated the possibility of Iraqi getting a green light to contract with Iranian companies that are not sanctioned by the United States, while anticipating the impact of the Central Bank’s agreement with the US Treasury on exchange rates.

Al-Mashhadani said, in an interview with Al-Iqtisad News, “The visit of the Prime Minister, Muhammad Shiaa Al-Sudani, to America is very positive, but so far the results of what was agreed upon in Washington have not appeared.”

He added: “It is hoped that the Central Bank of Iraq will announce the measures that were agreed upon in Washington, which could have a positive impact on the exchange rate,” pointing out that “the real problem of exchange rates has not yet been solved, which is dealing in trade with banned countries.” .

The economic expert explained, “The economic aspect was the main focus of Sudanese’s visit to Washington, and it became clear through the meetings and discussions held by the Central Bank of Iraq, with the US Treasury regarding the sanctions imposed on Iraqi banks or even the issue of financial transfers to Iran, in addition to the required investments, which "It is possible to sign in the energy field."

He stressed, "Iraq got the other light by contracting with unsanctioned Iranian companies, which allowed the Ministry of Electricity to sign a contract to recover Iranian gas for a period of five years, at a time when the government is heading to end this file after 3 years, according to what was announced."

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Views 109

Added 04/25/2024 - 10:30 AM

https://economy-news.net/content.php?id=42812

 

[Mary B]

Economist: Travelers' dollars are leaking into the parallel market...and this is what the Central Bank should do

• Time: 04/24/2024

  

{Economic: Al-Furat News} The economic expert, Safwan Qusay, revealed the leakage of travelers’ dollars to the parallel market.

A useful summary of important news can be found on the Al-Furat News channel on Telegram. To subscribe, click here

Qusay said {to Al-Furat News} that: “The current policy of the Central Bank of Iraq goes towards auditing the cash dollar, which was marred by many failures in the first periods, especially its leakage through travelers to the irregular market, and this issue needs a new and clear mechanism.”
He added, "It is assumed that travelers are dealt with through tourism and airline companies, and the travel ticket is not allowed to be canceled unless the traveler returns the amount he purchased from the exchange outlets or banks."
Qusay stressed, “This measure will restore confidence in the cash dollar and the possibility of facilitating the mission of real tourists and filling the gaps that accompanied the process of establishing the electronic platform for the cash sale of foreign currencies.” 
He stated that "the Central Bank will not hesitate to provide the dollar to those entitled to it, whether at the level of Hajj or other windows," noting that "the Central Bank's emphasis on procedures for granting citizens the cash dollar ensures that it reaches those who need it."
Qusay added, “The Central Bank’s official sales during the previous 10 days rose to $270 million per day, which is an indication of the activation of the electronic platform,” adding, “The more we reduce imports and analyze the irregular demand for the dollar, the more stable the dollar’s exchange rate will be.”
Meanwhile, travelers expressed their surprise at the Central Bank’s decisions to prevent government banks from selling dollars to travelers.
Travelers said, via {Al-Furat News}: “We are surprised by the Central Bank’s decisions to prevent government banks from selling the dollar to travelers and monopolizing it only with financial transfer and exchange companies.” 
Travelers called on Parliament and members of the Parliamentary Finance Committee to “intervene and solve the problem and allow government banks to carry out the process of selling the dollar, especially in conjunction with the delegation of pilgrims to the Holy House of God, and they need to buy the dollar at the official price.” 

Wafaa Al-Fatlawi

https://alforatnews.iq/news/خبير-اقتصادي-دولار-المسافرين-يتسرب-للسوق-الموازي-وهذا-ما-على-المركزي-فعله

[Mary B]

Warning from the Central Bank about “misuse of electronic payment cards”

Economy |Today, 12:38 |

    

 

+A-A

 

Baghdad today - Baghdad  

Today, Thursday (April 25, 2024), the Central Bank of Iraq warned against the misuse of electronic payment cards.

The bank’s media said in a statement received by “Baghdad Today” that “the Central Bank warns against the misuse of electronic payment cards,” stressing that it “continues to refer cards and their owners who are subject to this violation to the Office of Combating Money Laundering and the Financing of Terrorism.”

He explained that "reports of misused cards are referred to the Supreme Judicial Council for the purpose of taking legal measures against them based on the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the instructions issued pursuant thereto, which helped the competent courts to issue their decisions including imprisonment and confiscation of cards."

The statement called for "not to misuse electronic payment cards in any way to avoid legal accountability to which the card owner will be exposed."

https://baghdadtoday.news/247918-تحذير-من-البنك-المركزي-عن-إساءة-استخدام-بطاقات-الدفع-الإلكتروني.html#hathalyoum

[Bama Girl]

It is my belief that this issue is the 800 lb. gorilla in the room preventing the exchange rate we want. 

Central Bank of Iraq, with the US Treasury regarding the sanctions imposed on Iraqi banks or even the issue of financial transfers to Iran. 
 

When the IQD reevaluate in a positive way, Iran will become very wealthy as others will. Is this why the U.S. is preventing it right now or is the U.S. preventing it! 
 

Thoughts?? 

[Mary B]

thank you Bama Girl

[Mary B]

Economist: There is serious work to lift US sanctions on Iraqi banks

 04/25/2024

 

 

 

 

Mawazine News - Baghdad

The expert in economic affairs, Safwan Qusay, confirmed that there is a joint committee between the US Federal Reserve and the Iraqi Central Bank in order to lift sanctions on some banks.

Qusay said, in a televised interview followed by Mawazine News, that “the joint committee is working to study the activities of the banks sanctioned by the US Federal Reserve.”

He added that “banks that have worked to purchase equipment or tools from sanctioned countries will have sanctions imposed on these banks.” A fine, indicating that the government must work to rehabilitate the banking sector so that it is internationally accepted.”

He pointed out that “the government of Muhammad Shiaa Al-Sudani directed the formation of a joint committee between the US Federal Reserve and the Iraqi Central Bank in order to move towards lifting sanctions on Iraqi banks and restoring the status of the Iraqi banking sector. ” to its global stature.

https://www.mawazin.net/Details.aspx?jimare=246721

[Mary B]

The most difficult option.. Warnings of the danger of floating the Iraqi dinar without achieving an “important condition”

 

    

 

 

 

Baghdad today - Baghdad

Economist Nabil Al-Marsoumi warned today, Thursday (April 25, 2024), of the dangers of floating the Iraqi dinar, noting that such a step could lead to the dinar witnessing a violent collapse and rampant inflation that would jump prices to insane levels.

Al-Marsoumi said in a post on the social networking site “Facebook”, followed by “Baghdad Today”, that “some are proposing a solution to address the double price of the dollar against the dinar and the existence of a large gap between the official and parallel prices through a free float of the Iraqi dinar,” indicating, “i.e. Turk.” The dinar is in the market to find its price against foreign currencies through the interaction of the forces of supply and demand.

 Al-Marsoumi added, “Such a decision has some economic positives,” adding, “But the economy should not be taken in its abstract aspect, but rather insofar as it relates to people, especially the poor.”

He continued, "In light of Iraq's lack of a national private sector that could contribute to increasing the supply of dollars in the Iraqi market, and because of the large volume of imports, which reach 67 billion dollars annually, the only party that owns the dollar is the government," explaining that "in the event that the government decides not to intervene." In the exchange market, it is expected that the dinar will witness a violent collapse and rampant inflation that will cause prices to rise to insane levels that will cause severe damage to citizens’ living standards, and the poor will become more miserable, and will later lead to social tensions and a major rift in the social peace.”

It is noteworthy that the floating exchange rate or currency float is the currency exchange rate that has been floated so that it has become completely liberalized, so the government or the central bank does not interfere in determining it directly, but rather it is released automatically in the currency market through the supply and demand mechanism that allows the price to be determined. Exchange the national currency against foreign currencies.

It is worth noting that the price of the dollar in the local markets is still experiencing a state of instability between rises and falls, even though the official price in the Central Bank of Iraq is 132,000 dinars per 100 dollars, but in the local markets it is witnessing an increase of more than ten points and may at times reach double this. The number is despite the numerous measures and packages launched by the Central Bank of Iraq, where some attribute that the reason for this confusion in prices is the result of smuggling operations and speculation in the black market for currency.

 

https://baghdadtoday.news/247930-الخيار-الأصعب.-تحذيرات-من-خطورة-تعويم-الدينار-العراقي-دون-تحقيق-شرط-مهم.html

[Mary B]

The Central Bank warns against misuse of electronic payment cards

 

April 25, 2024

Baghdad/Al-Masala Al-Hadath: The Central Bank of Iraq warned, on Thursday, against the misuse of electronic payment cards.

The bank’s media said in a statement, “The Central Bank warns against the misuse of electronic payment cards,” stressing that it “continues to refer cards and their owners who are suspected of doing so to the Anti-Money Laundering and Countering the Financing of Terrorism Office.”

He explained that “reports of misused cards are referred to the Supreme Judicial Council for the purpose of taking legal measures against them based on the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the instructions issued pursuant thereto, which helped the competent courts to issue their decisions including imprisonment and confiscation of cards.”

The statement called for “not to misuse electronic payment cards in any way to avoid legal accountability to which the card owner will be exposed.”

 

https://almasalah.com/archives/89457

[Mary B]

44 minutes ago, Mary B said:

The most difficult option.. Warnings of the danger of floating the Iraqi dinar without achieving an “important condition”

 

    

 

 

 

Baghdad today - Baghdad

Economist Nabil Al-Marsoumi warned today, Thursday (April 25, 2024), of the dangers of floating the Iraqi dinar, noting that such a step could lead to the dinar witnessing a violent collapse and rampant inflation that would jump prices to insane levels.

Al-Marsoumi said in a post on the social networking site “Facebook”, followed by “Baghdad Today”, that “some are proposing a solution to address the double price of the dollar against the dinar and the existence of a large gap between the official and parallel prices through a free float of the Iraqi dinar,” indicating, “i.e. Turk.” The dinar is in the market to find its price against foreign currencies through the interaction of the forces of supply and demand.

 Al-Marsoumi added, “Such a decision has some economic positives,” adding, “But the economy should not be taken in its abstract aspect, but rather insofar as it relates to people, especially the poor.”

He continued, "In light of Iraq's lack of a national private sector that could contribute to increasing the supply of dollars in the Iraqi market, and because of the large volume of imports, which reach 67 billion dollars annually, the only party that owns the dollar is the government," explaining that "in the event that the government decides not to intervene." In the exchange market, it is expected that the dinar will witness a violent collapse and rampant inflation that will cause prices to rise to insane levels that will cause severe damage to citizens’ living standards, and the poor will become more miserable, and will later lead to social tensions and a major rift in the social peace.”

It is noteworthy that the floating exchange rate or currency float is the currency exchange rate that has been floated so that it has become completely liberalized, so the government or the central bank does not interfere in determining it directly, but rather it is released automatically in the currency market through the supply and demand mechanism that allows the price to be determined. Exchange the national currency against foreign currencies.

It is worth noting that the price of the dollar in the local markets is still experiencing a state of instability between rises and falls, even though the official price in the Central Bank of Iraq is 132,000 dinars per 100 dollars, but in the local markets it is witnessing an increase of more than ten points and may at times reach double this. The number is despite the numerous measures and packages launched by the Central Bank of Iraq, where some attribute that the reason for this confusion in prices is the result of smuggling operations and speculation in the black market for currency.

 

https://baghdadtoday.news/247930-الخيار-الأصعب.-تحذيرات-من-خطورة-تعويم-الدينار-العراقي-دون-تحقيق-شرط-مهم.html

 

[Mary B]

I think  Al-Sudani took care of this during his Washington trip

[rvmydinar]

1 hour ago, Mary B said:

the dangers of floating the Iraqi dinar, noting that such a step could lead to the dinar witnessing a violent collapse and rampant inflation that would jump prices to insane levels

Meaning what? RV for dinar speculators? Or RV for dollar speculators?

[Mary B]

I have been very positive as the Iraqi dinar is concerned start low, end up high

[haymon]

Electronic cards was a way to help with fraud.  

Well that's going well....

[Laid Back]

“It is hoped that the Central Bank of Iraq will announce the measures that were agreed upon in Washington, which could have a positive impact on the exchange rate,”

 

“The dinar is in the market to find its price against foreign currencies through the interaction of the forces of supply and demand.”

 

“It is noteworthy that the floating exchange rate or currency float is the currency exchange rate that has been floated so that it has become completely liberalized, so the government or the central bank does not interfere in determining it directly, but rather it is released automatically in the currency market through the supply and demand mechanism that allows the price to be determined.”

 

 Remove exchange control and let the forces of supply and demand determine the price.

 

Go free market economy

Go float
Go stronger dinar

 

 

 

[Longtimelurker]

4 hours ago, Mary B said:

The most difficult option.. Warnings of the danger of floating the Iraqi dinar without achieving an “important condition”

 

    

 

 

 

Baghdad today - Baghdad

Economist Nabil Al-Marsoumi warned today, Thursday (April 25, 2024), of the dangers of floating the Iraqi dinar, noting that such a step could lead to the dinar witnessing a violent collapse and rampant inflation that would jump prices to insane levels.

Al-Marsoumi said in a post on the social networking site “Facebook”, followed by “Baghdad Today”, that “some are proposing a solution to address the double price of the dollar against the dinar and the existence of a large gap between the official and parallel prices through a free float of the Iraqi dinar,” indicating, “i.e. Turk.” The dinar is in the market to find its price against foreign currencies through the interaction of the forces of supply and demand.

 Al-Marsoumi added, “Such a decision has some economic positives,” adding, “But the economy should not be taken in its abstract aspect, but rather insofar as it relates to people, especially the poor.”

He continued, "In light of Iraq's lack of a national private sector that could contribute to increasing the supply of dollars in the Iraqi market, and because of the large volume of imports, which reach 67 billion dollars annually, the only party that owns the dollar is the government," explaining that "in the event that the government decides not to intervene." In the exchange market, it is expected that the dinar will witness a violent collapse and rampant inflation that will cause prices to rise to insane levels that will cause severe damage to citizens’ living standards, and the poor will become more miserable, and will later lead to social tensions and a major rift in the social peace.”

It is noteworthy that the floating exchange rate or currency float is the currency exchange rate that has been floated so that it has become completely liberalized, so the government or the central bank does not interfere in determining it directly, but rather it is released automatically in the currency market through the supply and demand mechanism that allows the price to be determined. Exchange the national currency against foreign currencies.

It is worth noting that the price of the dollar in the local markets is still experiencing a state of instability between rises and falls, even though the official price in the Central Bank of Iraq is 132,000 dinars per 100 dollars, but in the local markets it is witnessing an increase of more than ten points and may at times reach double this. The number is despite the numerous measures and packages launched by the Central Bank of Iraq, where some attribute that the reason for this confusion in prices is the result of smuggling operations and speculation in the black market for currency.

 

https://baghdadtoday.news/247930-الخيار-الأصعب.-تحذيرات-من-خطورة-تعويم-الدينار-العراقي-دون-تحقيق-شرط-مهم.html

Maybe they will do this to cause the collapse if a collapse is needed

[Mary B]

1 hour ago, Laid Back said:

“It is hoped that the Central Bank of Iraq will announce the measures that were agreed upon in Washington, which could have a positive impact on the exchange rate,”

 

“The dinar is in the market to find its price against foreign currencies through the interaction of the forces of supply and demand.”

 

“It is noteworthy that the floating exchange rate or currency float is the currency exchange rate that has been floated so that it has become completely liberalized, so the government or the central bank does not interfere in determining it directly, but rather it is released automatically in the currency market through the supply and demand mechanism that allows the price to be determined.”

 

 Remove exchange control and let the forces of supply and demand determine the price.

 

Go free market economy

Go float
Go stronger dinar

 

 

 

thank you Laid Back

[HowieC]

12 hours ago, Bama Girl said:

It is my belief that this issue is the 800 lb. gorilla in the room preventing the exchange rate we want. 

Central Bank of Iraq, with the US Treasury regarding the sanctions imposed on Iraqi banks or even the issue of financial transfers to Iran. 
 

When the IQD reevaluate in a positive way, Iran will become very wealthy as others will. Is this why the U.S. is preventing it right now or is the U.S. preventing it! 
 

Thoughts?? 

My thought is that this current Obiden / DS administration will and has done anything in the PAST to slip Iran large sums of money, right under our nose AND behind our backs.  They would like nothing better than to support Iran's evil on a huge scale. 

On the other hand......These same people would prefer all us common DEPLORABLES to have NO windfall monetary gain, which of coarse ALSO equals power.

[HowieC]

Thanks Brandon photojoe.....it's a downright honor to oblige you!   😅

[boosterbglee]

[Artitech]

1 hour ago, boosterbglee said:

 

[Artitech]

all he needs is a brain!

[screwball]

3 hours ago, HowieC said:

My thought is that this current Obiden / DS administration will and has done anything in the PAST to slip Iran large sums of money, right under our nose AND behind our backs.  They would like nothing better than to support system">support Iran's evil on a huge scale. 

On the other hand......These same people would prefer all us common DEPLORABLES to have NO windfall monetary gain, which of coarse ALSO equals power.

1005 auctions enable iran to get usd from corrupt banks and companies (biden/obama) will want this , TRUMP the CIC will want global integration because its easy to control flow of usd to other countries and block transactions! If what they say is Correct about TRUMP being CIC and in charge of the Treasury under war powers act and various articles then he will want it! just my thoughts really and could be completly wrong!

Edited April 26 by screwball