Posts Tagged ‘Iraqi Dinar’

Exchange rate of the dollar in Iraqi banks and markets 8-17-2017

Exchange rate of the dollar in Iraqi banks and markets 8-17-2017

8-17-2017

Exchange rate of the dollar in Iraqi banks and markets: Read more…

Iraqi Dinar Guru opinions 8-16-17

Iraqi Dinar Guru opinions 8-16-17

8-16-2017 Intel Guru Bruce In Iraq it looks like from the Iraqi perspective talking to some of our Forex sources, it appears that the Forex was trading the dinar from its position of 1160 or 1168 down to 1140 so forth. The thinking was by sometime tonight [Tuesday] it could be traded all the way down to where it would zero out and come back to $1. to $1.25 or something like that up to its true value. The thinking is that the rate which we have seen some decent rates that were in the vicinity that Dr Shabbi talked about the dinar being able to support. We have seen couple of these rates be on some of the new Qi cards in and outside of Iraq on Iraqi citizens and dual Iraqi citizens. High rates that are stable. Are they place holder rates? Would it be giving us indication what the rate would be? We don’t know that yet. Read more…

Iraqi Dinar/US Dollar auction results 8-16-17

Iraqi Dinar/US Dollar auction results 8-16-17

The results of the foreign currency sale window on Thursday 17-8-2017, which will be issued on Wednesday 16-8-2017

Announcement No. (3506)
The opening of the daily sale and purchase of foreign currency in the Central Bank of Iraq on Thursday, 17-8-2017, and executed on Wednesday 16-8-2017 The results are as follows: Read more…

The government and the central bank restore the world’s confidence in the Iraqi economy

The government and the central bank restore the world’s confidence in the Iraqi economy

August 16, 2017

Iraq is currently experiencing an economic crisis and great and difficult challenges, which are due to the control of the terrorist “Da’ash” organization on large areas of it; and the low oil prices globally, which affected its budget for the years 2017-2017, reaching a current year about 95 billion dollars and a deficit of about 20.5 billion dollars , Damaging the non-oil economy by destroying infrastructure and assets, disrupting trade, deteriorating investor confidence, the external sector and medium-term growth potential.
In order to meet all the political and economic challenges experienced by Iraq, the Central Bank has taken a number of Read more…

Exchange rate of the dollar in Iraqi banks and markets 8-16-2017

Exchange rate of the dollar in Iraqi banks and markets 8-16-2017

8-16-2017

Exchange rate of the dollar in Iraqi banks and markets: Read more…

Iraqi Dinar Guru opinions 8-15-17

Iraqi Dinar Guru opinions 8-15-17

8-15-2017 Intel/Newshound Guru American Contractor The Iraq economy is improving at a snails pace but nevertheless, it is improving. This past month the Iraqi government informed everyone about their 10 year $100 bln reconstruction plan for the country. The fund is to be funded by the same groups that normally fund countries that are involved in conflicts, such as the International Monetary Fund (IMF), World Bank, domestic revenues, international borrowing. The bond money (if the government is able to raise $100 bln) is going to be used for the rebuilding of Mosul….By the way, it is going to take more than $100 bln dollars to fund the reconstruction of the war torn areas in northern Iraq. So, where is all that money going to and coming from? Read more…

Iraqi Dinar/US Dollar auction results 8-15-17

Iraqi Dinar/US Dollar auction results 8-15-17

The results of the foreign currency sale window on Wednesday 16-8-2017, which will be issued on Tuesday 15-8-2017

Announcement No. (3505)
The opening of the sale and purchase of foreign currency daily in the Central Bank of Iraq on Wednesday, 16-8-2017 and implemented on Tuesday 15-8-2017 The results were as follows: Read more…

Exchange rate of the dollar in Iraqi banks and markets 8-15-2017

Exchange rate of the dollar in Iraqi banks and markets 8-15-2017

8-15-2017

Exchange rate of the dollar in Iraqi banks and markets: Read more…

Iraqi Dinar Guru opinions 8-14-17

Iraqi Dinar Guru opinions 8-14-17

8-14-2017 Newshound Guru Enorrste We do have some good news…we are much, much closer. I wouldn’t say the fat lady started singing yet, but I do think I hear her in the background practicing. The IMF became a trustee of the CBI back in 2015…they said we need you to become a member of the world community. Then as I recall in the middle of last year they announced that they were going to bring them into the real world by the middle of this year which has just passed. I believe that because of Mosul they were thrown back a bit and once they took control of Mosul, the GOI fell right in line with the IMF goals and said now we are ready to move. So I think we are on the right path and I still think the IMF is in control. The IMF is pretty good at setting benchmarks, so we have a pretty clear picture of where we are at this point. So even thought it is not happening at the pace we would have liked, it is happening… The IMF is keeping this on track. Read more…

Iraqi Dinar/US Dollar auction results 8-14-17

Iraqi Dinar/US Dollar auction results 8-14-17

The results of the foreign currency sale window on Tuesday 15-8-2017, which will be issued on Monday 14-8-2017

Announcement No. (3504)
The opening of the daily sale and purchase of foreign currency in the Central Bank of Iraq on Tuesday, 15-8-2017, and executed on Monday 14-8-2017 and the results are as follows: Read more…

Signed a cooperation agreement between the Iraqi Trade Bank and the United Auto Trading Company

Signed a cooperation agreement between the Iraqi Trade Bank and the United Auto Trading Company

2017-08-14 at 10:36 (Baghdad time)

Baghdad Mawazine News
The United Auto Trading Company, the official and sole agent of Renault vehicles in Iraq and the Iraqi Bank of Trade, signed a cooperation agreement to provide car loan service to citizens. The signing ceremony took place at the main exhibition of Renault cars in its distinctive location Read more…

Exchange rate of the dollar in Iraqi banks and markets 8-14-2017

Exchange rate of the dollar in Iraqi banks and markets 8-14-2017

8-14-2017

Exchange rate of the dollar in Iraqi banks and markets: Read more…

Iraqi Dinar Guru opinions 8-13-17

Iraqi Dinar Guru opinions 8-13-17

8-13-2017 Newshound Guru MilitiaMan “Iraq is entering the global financial markets with great success” Quotes: “this move gives a strong signal to investors to deal with Iraq with high confidence…” “The plans implemented by Dr. Abadi three years ago were well studied, especially with regard to capital. We succeeded in maintaining the dinar exchange rate while continuing to pay salaries and dues, maintaining the war against the enemy and achieving economic victories parallel to security.” The confidence the investors have in Iraq has arrived. An additional point to think about is the three years it has been in the making. If we recall the MOP shows that time line for the IQD as well… with two sets of books per se, one may deduce they have been doing them for a heck of a lot longer than ever thought. If true, how sweet it is!! Read more…

Iraqi Dinar/US Dollar auction results 8-13-17

Iraqi Dinar/US Dollar auction results 8-13-17

The results of the foreign currency sale window on Monday 14-8-2017 and executed on Sunday 13-8-2017

Announcement No. (3503)
The opening of the daily sale and purchase of foreign currency in the Central Bank of Iraq for Monday, 14-8-2017 and executed on Sunday 13-8-2017 and the results are as follows: Read more…

Exchange rate of the dollar in Iraqi banks and markets 8-13-2017

Exchange rate of the dollar in Iraqi banks and markets 8-13-2017

8-13-2017

Exchange rate of the dollar in Iraqi banks and markets: Read more…

Iraqi Dinar Guru opinions 8-12-17

Iraqi Dinar Guru opinions 8-12-17

8-12-2017 Intel Guru RayRen98 The update information I sent out is still the prevailing information. The video clip brought a lot of discussion of PM Abadi having a press conference and a cavalier type statement, to my way of thinking, that Iraq had exited Chapter 7. Some will debate that’s not new news and some say they are still in Chapter 7. That puts the debate to an end. He’s made the proclamation. Also, info still inconclusive on the IMF. Cannot give it 100% yet…That is IMF making reference to Iraq being Article 8 compliant. That’s not the same as proclaiming them Article 8, making it in effect. Could make for discussion, “are they or are they not.” Read more…

Exchange rate of the dollar in Iraqi banks and markets 8-12-2017

Exchange rate of the dollar in Iraqi banks and markets 8-12-2017

8-12-2017

Exchange rate of the dollar in Iraqi banks and markets: Read more…

Iraqi Dinar Guru opinions 8-11-17

Iraqi Dinar Guru opinions 8-11-17

8-11-2017 Newshound Guru G-Lin “Report: Electronic payment removes the “dinar” from the pockets of employees” Quote: “The salary of the employee will be 2000 Iraqi dinars (less than two dollars), regardless of its value.” Well to me it is saying that there may be plans for a different value for the dinar. At todays rate of 1260 they are getting $1.59 for 2000 dinars. If that changes to a 1 to 1 they would receive 2000 dinars worth a lot more in purchasing power than that $1.59. In Iraq 2000 dinars will always be 2000 dinars. A change in value is what we are looking for of course. That 1 to 1 means something totally different to in-country versus what it means to us. We be dancing in the street. I just liked that they said ” regardless of value.” I can’t imagine the value going anywhere but up. All JMO. Read more…

The dollar is settling today at 1260 dinars

The dollar is settling today at 1260 dinars

2017/8/11 10:09

[Ayn-Baghdad]
Foreign currency markets in Iraq, on Friday morning, stabilized the dollar exchange rate against the Iraqi dinar.
The market price on the Kifah Stock Exchange in Baghdad Read more…

Iraqi Dinar Guru opinions 8-10-17

Iraqi Dinar Guru opinions 8-10-17

8-10-2017 Newshound Guru Kaperoni “Iraq : 2017 Article IV Consultation and Second Review under the Three-Year Stand-by Arrangement…” Quote: “The simplification of documentation requirements implemented by the Central Bank of Iraq led to a decline in the parallel market spread to 6 percent in June 2017.” So we have confirmation from the IMF that the CBI spread (official rate to market rate is at 6%)…well out of compliance of the required 2% in order to move to Article VIII. The CBI has to find a way to get the market rate down to 1207 or so. Currently it is 1260. …the IMF states that Ali al-Allaq and his team have lowered the spread from 11% in December to about 6% currently. Still out of compliance for acceptance into Article VIII, but progress. …the CBI believes that three of the SB’s (i believe that means Structural Benchmarks) can be met very soon. The key one’s seems to be the law in parliament to modify the CBI law and freeing up one of the CBI’s current financial restrictions which they believe is the reason for the current 6% spread. If so, this is more good news. Clearly they are working to reduce the spread and get in compliance as soon as possible. Read more…