Posts Tagged ‘Iraqi Dinar’

Central Bank pulls the coin 50 dinars class of trading

Central Bank pulls the coin 50 dinars class of trading

2/28/2015 0:00

BAGHDAD – morning,
the CBI has decided to withdraw a paper currency in circulation and prevent Alarac.waodh Bank said in a statement received “morning,” a copy of the bank decided to “pull the banknote category of 50 dinars from circulation,” he said, adding that this was due to stop the public from trading by On the basis of the authority vested in the Article 36 of the Central Bank Law No. 56 of 2004, adding, “The duration of the replacement category Read more…

Economist: Auction currencies on the central bank to “ATM” and stop a positive step

Economist: Auction currencies on the central bank to “ATM” and stop a positive step

Date: 02/27/2015 19:47

Information / special / ..
regarded economist Dr. Manaf jeweler, on Friday, to stop the auction sale of foreign currencies by the central bank is a positive step, indicating that the selling of currencies has transformed the bank to the ATM.
The jeweler told / information /, the “Stop Auction sale of foreign currencies, especially the dollar is a positive step by the bank’s board because he can not be Read more…

Experts: 50 dinars born “dead” .. and canceled due to fraud and the deletion of zeros

Experts: 50 dinars born “dead” .. and canceled due to fraud and the deletion of zeros

02/27/2015 (20:34)

Range / Amer Mohi

A source in the CBI revealed that the bank has decided to withdraw the currency of 50 dinars from circulation category because of fraud and conflict with other categories when deleting zeros from the currency, and while experts confirmed that the abolition of the small category guide to take prices upward trend, said the 50 dinars born “dead” because they are too small and can not be accepted compared to other groups.

The Central Bank of Iraq, the day before yesterday, the currency was withdrawn from the category of 50 dinars from circulation due to “low value and stop the audience from the circulation,” according Read more…

Parliamentary Finance: Work remittances system is designed to control the amount of money sent abroad

Parliamentary Finance: Work remittances system is designed to control the amount of money sent abroad

27/02/2015 01:26

Trend Press – special
Parliamentary Finance Committee revealed that the work of the Iraqi Central Bank remittance system and sell the currency is designed to control the amount of money sent abroad.
Said committee member Najiba Najib said in an interview for “direction Press” that the system preclude any party from exploiting the situation the current security of the country and to control the exchange rate a way that Read more…

Iraqi Dinar Guru opinions 2-27-15

Iraqi Dinar Guru opinions 2-27-15

2-27-2015 Newshound Guru Millionday CBI IS PULLING THE 50 DINAR FROM THE STREETS OF IRAQ RIGHT NOW AND WILL BEGIN ON MARCH 1ST AND END APRIL 30TH. THESE NOTES WERE ISSUED AFTER THE 2003 ECONOMIC CHANGES THAT OCCURRED — HOWEVER AT THAT TIME IN THIS SERIES THEY WERE NOT VERY USABLE DUE TO THE REFLECTED PRICING THAT OCCURRED WITH THE IMPOSED RATE — SO THE NEW SERIES WILL BE PUT ON THE STREET IN THIS CATEGORY. [is this in country and outside too? All?] THIS IS RELEASED TO THE CITIZENS SO THAT THE 50 DENOMINATION CAN BE EXCHANGED TO BE THE NEW SERIES AT THIS TIME — NO REGULATIONS HAVE BEEN RELEASED YET IN INK TO TELL CITIZENS OR INVESTORS OUTSIDE THE COUNTRY OF ANY NEW REGULATIONS FOR THE BILL OR WHAT TO DO WITH THEM ETC. THERE ARE IRAQIS OUTSIDE THE COUNTRY AND PEOPLE THAT HAVE 50`S OUTSIDE OF IRAQ…WE WOULD EXPECT SOME REGULATION RELEASED FOR THAT — WE HAVE TO WAIT AND SEE. Read more…

Iraqi Dinar Guru opinions 2-26-15

Iraqi Dinar Guru opinions 2-26-15

2-26-2015 Newshound Guru Millionday IT LOOKS LIKE THEY ARE ASKING FOR EXECUTIVE ORDERS WITH HCL — FROM BASRA…THEY ARE ASKING THE PRESIDENT TO MOVE FORWARD WITH THE HCL PER AGREEMENTS MADE. [Does the HCL have to be done before they can do anything with the Dinar?] THAT WOULD BE UP TO THE PLAN THEY HAVE FOR THE COUNTRY… THE TIMELINE THEY ARE WORKING WITH HAS NOT BEEN RELEASED TO US — WE DONT KNOW THE DATE…THEY…ARE WORKING VERY HARD TO MOVE FORWARD — ABADI PROMISED TODAY TO THE CITIZENS THAT THE ECONOMIC CRISIS WOULD END — THAT IS A HUGE STATEMENT. Read more…

Central Bank announces the withdrawal of 50 dinars a class of trading

Central Bank announces the withdrawal of 50 dinars a class of trading

Thursday February 26, 2015 14:35

Alsumaria News / Baghdad
said the Iraqi Central Bank, on Thursday, for the withdrawal of currency 50 dinars category of trading, indicating that the replacement will continue for two months. The bank said in a statement received ” Alsumaria News “, a copy of it, he was” given to stop the public from trading paper Cash category 50 dinars, he decided to withdraw this banknote trading based authorized to article 36 of the powers of the Bank Act No. 56 of 2004 “. The bank added that Read more…

Iraqi Dinar Guru opinions 2-25-15

Iraqi Dinar Guru opinions 2-25-15

2-25-2015 Newshound Guru Enorrste Article: “Experts: Central Bank faces the problem of the shortage of foreign currency and claiming to reassure customers” Can you imagine the reaction of a local Iraqi businessman when he goes to the bank to buy some dollars and is told that they don’t have any? What else could he do except use dinars, right? Talk about turning the tables quickly! Sure, some will find ways to get dollars from other sources, but not nearly enough. Eventually, and probably sooner rather than later, people will realize that they have to use their own currency. This will stabilize the market, at which point the CBI will be in position to allow the float. As some have suggested, they may not even make a big thing about it. The value of the dinar will just begin to rise, and the official rate will rise with it. Of course at some point they will have to drop the fixed official rate. Read more…

Central Bank: start applying the new system of remittances and sell currency

Central Bank: start applying the new system of remittances and sell currency

Wednesday, February 25, 2015 13:03

[Baghdad-where]

Central Bank announced to start applying the new system of remittances and sell the currency.

According to a brief statement of the bank received by all of Iraq [where] a copy of which was “no truth to the news stop selling the dollar operations.”

He was placed source at the Central Bank of Iraq, said Read more…

Economist: stop the currency auction will reflect negatively on the Iraqi dinar

Economist: stop the currency auction will reflect negatively on the Iraqi dinar

25/02/2015 08:35 GMT

BAGHDAD – and babysit – said economic expert on behalf of Jamil Antoine, the “Stop currency auction will reflect negatively on the Iraqi currency,” calling on the central bank to “inject large amounts of dollar to control the price and create a balance in the local market.”
Antoine said, that “to stop the auction currency came to relieve pressure on the Bank Lids for ICON ATMs and obscure his main task which is to maintain the transfer of funds and other operations in charge of the process.”

He stressed that the “rise of the dollar against the Iraqi dinar was Read more…

Iraqi Dinar Guru opinions 2-24-15

Iraqi Dinar Guru opinions 2-24-15

2-24-2015 Newshound Guru Millionday [Did we get confirmation that the rest of the budget got into the Gazette?] YES THEY ANNOUNCED THAT THE ENTIRE BUDGET HAS BEEN PRINTED — ACCORDING TO A COUPLE REPORTS…SO ACCORDING TO THEM IT HAS AND IS TO BE ACTIVATED NOW AND DISTRIBUTIONS WILL BEGIN THE BEGINNING OF THIS WEEK. [ if the whole budget has been placed in the Gazette, doesn’t that mean that the CBI has to fund it in the next 24 hours?] NO IT MEANS THAT THEY WILL BEGIN AND THEY HAVE STATED THAT THEY ARE AT THE BEGINNING OF THIS WEEK. Read more…

Parliament authorizes the Ministry of Finance to borrow from the central bank to cover the deficit

Parliament authorizes the Ministry of Finance to borrow from the central bank to cover the deficit

Published on Monday, February 24, 2015 11:39

BAGHDAD / Center Brief for the Iraqi Media Network ( IMN ) Chairman of the Committee on Economy and Investment parliamentary Jawad al reported that the House of Representatives authorized the Ministry of Finance to borrow from the central bank to meet the fiscal deficit in the budget.

He said al-Bolani’s ( IMN ), “The budget explained the steps taken by the government and Ministry of Finance on the borrowing issue that if internally or externally,” asserting that Read more…

Experts: Central Bank faces the problem of the shortage of foreign currency and claiming to reassure customers

Experts: Central Bank faces the problem of the shortage of foreign currency and claiming to reassure customers

Posted, 02/24/2015 (0:52)

BAGHDAD / Ghazanfar Laibi – Amer supporter

Experts in economic affairs said that Iraqi banks began to suffer a shortage of liquidity in foreign currency (dollar), while the expected rise in the dollar’s exchange rate against the devaluation of the dinar as a result of stopping the auction currency, grumbling banking customers of non-receipt of money deposited by the dollar, stressing that handed over the money Dinars expose them to significant losses.

The expert Read more…

Central Bank: Cancel Auction sell currencies to keep the exchange rate of the dinar against the dollar

Central Bank: Cancel Auction sell currencies to keep the exchange rate of the dinar against the dollar

24/02/2015 12:30 GMT

Follow-up – and babysit – The Central Bank of Iraq, on Tuesday, the abolition of the daily auction for the sale of foreign currencies.
The central bank said media director Fadel Hussein, in a press statement, “The need to cover banking offices, community and government banks of currencies will be by remittances, with only stop the daily bank, which includes the sale of direct cash auction, including the dollar.”

He added that “this decision is not contrary to what was stated by Read more…

Iraqi Dinar Guru opinions 2-23-15

Iraqi Dinar Guru opinions 2-23-15

2-23-2015 Newshound Guru Millionday CBI HAS STATED THAT THEY ARE GOING TO STOP THE AUCTIONS FOR FOREIGN REMITTANCE AND THAT WOULD REQUIRE INTERNATIONAL ACCEPTANCE AND ALSO IS PART OF THE MONETARY POLICY PER THE REPORT — THE BUDGET HAS BEEN PRINTED BUT THE REVENUES AND THEY HAVE DIVIDED THE BUDGET INTO TWO CHAPTERS — WE DONT KNOW IF THIS IS BECAUSE OF THE DISTRIBUTION OR FOR ANOTHER REASON UNLESS WE GUESS AND WE ARE NOT GOING TO DO THAT …THEY ARE NOT AND I REPEAT — ARE NOT GOING TO RELEASE EVERYTHING BEFORE IT IS DONE. …WHAT WE KNOW AND CAN SEE…THE BUDGET IS DIVIDED INTO TWO CHAPTERS — AND DISTRIBUTION IS EXPECTED THE BEGINNING OF THIS WEEK — WE HAVE TOMORROW A MEETING WITH PARLIAMENT AND ABADI…WE HAVE AMENDMENTS BEING DONE TO THE INVESTMENT LAWS PER REQUESTS BEING GIVEN TO THE GOV. I HAVE TO SAY — THIS ALL LOOKS VERY POSITIVE…THEY ARE SHOWING HUGE PROGRESS THAT WE HAVE NOT SEEN BEFORE. Read more…

Zebari discuss with senior government officials, parliamentarians, directors of banks and ways to finance the budget deficit

Zebari discuss with senior government officials, parliamentarians, directors of banks and ways to finance the budget deficit

Monday, February 23, 2015 17:03

[Baghdad-where]

Search Finance Minister Hoshyar Zebari today, with a number of senior government officials, parliamentarians, directors of banks ways to finance the budget deficit and the ministry plans to implement the budget law after its publication in the Official Gazette of the Republic of Iraq [Iraqi facts] yesterday.

A statement by the Ministry of Finance Agency has received all of Iraq [where] a copy of which was “The meeting discussed the financial liquidity Read more…

Iraqi Dinar Guru opinions 2-22-15

Iraqi Dinar Guru opinions 2-22-15

2-22-2015 Newshound Guru Enorrste Article quote: “Governor of the Central Bank, explained that “It is not true that the central stays busy selling the currency like ATM daily”, stressing that “the transition to a new phase is to conduct foreign remittances through the banking system within the mechanism developed for it.” …the definition of foreign remittances: Foreign remittance can be defined as ‘the purchase and sale of freely convertible foreign currencies’. The CBI is stopping the auctions, effective tomorrow morning. This is a fact. We know that the auctions were the primary monetary tool that the CBI used to hold the exchange rate on the street within 2% of the official CBI rate for the dinar. To summarize: the auctions are ending, being replaced with foreign remittances. Foreign remittances are only possible with a freely convertible currency. A freely convertible currency is one that is internationally recognized. In order for this to work, the CBI will have to move from a fixed rate regime to a floating currency or suffer from inflation. Therefore, I predict that they will do so sooner rather than later. I predict within the next 15 to 45 days… Read more…

Iraqi Dinar Guru opinions 2-21-15

Iraqi Dinar Guru opinions 2-21-15

2-21-2015 Newshound Guru Millionday Quote: “All banks reported this mechanism”, and as pointed out that “the Central no longer a party to the process of buying and selling the currency,” revealed that “on Sunday will be the application of this mechanism.” THIS IS…A STATEMENT FROM THE GOV OF CBI…ALL BANKS ARE READY AND HE IS PREPARED TO MONITOR THE ENTIRE POLICY- THE NEW ONE…NO LONGER WILL THE AUCTIONS BE PART OF THIS. THIS IS THE MARKET MECHANISM WE HAVE BEEN TOLD HAS BEEN PLANNED. HE WILL AND THE EXPERTS WILL BE CHECKING THE REMOVAL OF THREE ZEROS TRANSITION AND THE STEPS TO COMPLETE IT…AS IT WILL TAKE TIME…FOR THE PROCESS TO BE COMPLETE…FROM BEGINNING TO END. [So according to this…tomorrow (Saturday) should be the last auction correct?] YES…THAT IS THE FIRST SIGN WE SHOULD SEE — NO MORE AUCTIONS. IN THE MORNING THE ACTIVATION OF THE MONEY LAWS WILL BE DONE AND ALSO ALL THE STEPS DESIGNED TO MOVE FORWARD WITH THE EXCHANGE RATES AND ITS STABILITY ALONG WITH FOREIGN EXCHANGE RESOURCES DESIGNED TO MEET THE NEEDS OF THE BANKING REFORM…THIS MEANS THE 22ND OF FEB — SUNDAY. Read more…

Iraqi Dinar Guru opinions 2-20-15

Iraqi Dinar Guru opinions 2-20-15

2-20-2015 Newshound Guru Millionday “the Iraqi government requires them to sell $119 million worth of crude oil per day to clog the employees’ salaries,” expected “overcome this crisis with cash that the Iraqi government is facing in the coming months. Mutlaq said that “the launch of the federal budget for 2015 by the Ministry of Finance to all ministries will be early next week to enable them to exchange.” THEY ARE REFERRING TO A COST ANALYSIS — THEY MUST SELL 119 MILLION US DOLLAR TO COVER WHAT THEY HAVE BUDGETED FOR THE MINISTRIES…THOSE OF US THAT HAVE BEEN HERE A LONGTIME KNOW THAT WE HAVE NOT READ THESE WORDS BEFORE FROM IRAQ — FUNDING THE MINISTRIES — WHOOPOW …I FIND IT INTERESTING THAT THEY DO NOT STATE THE DINAR AMOUNT — THEY WILL ONLY BE USING THE DINAR FOR THEIR NATIONAL CURRENCY PER REGULATIONS BY THE CBI — THE OIL IS PAID FOR IN US DOLLAR AND SENT TO THE CBI AND EXCHANGED THEN FOR DINAR. Read more…

Iraqi Dinar Guru opinions 2-19-15

Iraqi Dinar Guru opinions 2-19-15

2-19-2015 Newshound Guru Millionday …PARLIAMENT FINANCE IS INVESTIGATING WHY THE BUDGET HAS NOT BEEN PRINTED IN THE GAZETTE. I HAVE TO SAY — I JUST DON’T THINK IT IS PRINTED YET — I WOULD SAY ALL MEDIA WOULD HAVE IN IT THAT IT WAS PRINTED SO I STILL DO NOT THINK IT IS PRINTED IN THE GAZETTE.

2-19-2015 Newshound Guru Millionday UPDATE ON THE PRESIDENTIAL MEETING THEY ARE HAVING… THEY ARE MAKING AN AGREEMENT TO FOLLOW THE CONSTITUTION AND ALSO THE AGREEMENT ON OIL-THE BUDGET — AND THE ERBIL AGREEMENT WITH THE GOV PROGRAMS — THEY HAVE MADE HUGE AGREEMENTS WITHIN THE COUNTRY AND THEY ARE STATING THEY HAVE TO MOVE FORWARD WITH ALL THAT HAS BEEN DONE — THE MEETING WITH THE PRESIDENTS IS POSITIVE AND ALSO VERY PRODUCTIVE IF THEY FOLLOW THROUGH — WHICH IT APPEARS THEY WILL BE HAVING SOME HUGE ANNOUNCEMENTS…IT APPEARS AS IF THEY WILL BE RESOLVING ALL OUTSTANDING ISSUES. Read more…