Posts Tagged ‘Iraqi Dinar’

Central Bank decides to support banks five trillion dinars and finance the budget six trillion dinars

Central Bank decides to support banks five trillion dinars and finance the budget six trillion dinars

27/01/2015 10:42 GMT

BAGHDAD – and babysit – Iraqi Central Bank decided Tuesday to support commercial banks to five trillion dinars and finance the budget six trillion dinars.
According to a statement of the bank, “public opinion” has received a copy of it, he was “in line with the central bank’s tasks and responsibilities in supporting the development and stimulate the Iraqi economy, the Administration approved Read more…

Iraqi Dinar Guru opinions 1-26-15

Iraqi Dinar Guru opinions 1-26-15

1-26-2015 Newshound Guru sczin11 THE CBI MET TODAY [SUNDAY], AND ANNOUNCED TO THE WORLD THEY ARE READY TO SUPPORT THE DINAR AND ARE COMPLYING WITH INTL REQUIREMENTS, AKA CLEANING UP THEIR CORRUPTION, WILL BE A WATCHDOG, AND ALL MONIES ARE SAFE WITH US… LOOKING AT WHAT HAS TRANSPIRED OVER THE LAST WEEK PLUS, ESPECIALLY A FEW DAYS AGO WITH MINISTERS OF FINANCE, OIL , PLANNING, PRIME MINISTER AND CBI IN SAME ROOM…WHEN HAS THAT HAPPENED IN THE PAST…ABADI SPEAKING IN DAVOS, MONEY TRANSFER COMPANIES BEGINNING TO TRADE ON ISX, BTW, 3 ARE SCHEDULED 1ST WEEK IN FEB…AND NOW THIS TODAY. Read more…

Iraqi Dinar Guru opinions 1-25-15

Iraqi Dinar Guru opinions 1-25-15

1-25-2015 Newshound Guru Millionday Article quote: “Iraqi dinar, in addition to having an excellent cash reserve, which covers the local currency, as well as the dinar currency traded publicly in the global currency markets.” GLOBAL CURRENCY MARKETS — THEY ARE GOING TO FOREX…WHOOPOW! THAT MEANS BACK TO A REALITY RATE FOR THE MARKET. [When will they start trading on Forex?] THEY SAID THAT NOW IS THE TIME TO TAKE THE CHANCE WITH IT…THIS GOES WITH THE ANNOUNCEMENT THEY MADE TO THE CITIZENS ABOUT BEING READY IMO. THEY ARE ANNOUNCING THAT THEY ARE RAISING THE RATE HIGH AND GOING TO GLOBAL MARKET — THAT IS NOT NORMALLY ANNOUNCED A LONG TIME BEFORE THE MARKET ENTRY.

Best article in a very long time!! Read up! https://iraqidinarchat.net/?p=32963 Read more…

Governor of the Central Bank receives 165 million dinars as the end of his service

Governor of the Central Bank receives 165 million dinars as the end of his service

January 25, 2015, 12:55

BAGHDAD – ((eighth day))

Said a source familiar with the Central Bank of Iraq that the former province Abdul Basit Turki received an amount of 165 million dinars (about $ 130 thousand), as a reward the end of the service, despite the fact that his appointment came across a violation of the law, pointing out that his retirement from the presidency of the BSA earned him 250 million dinars in the form of accumulated leave.

The source said in an interview with Lord’s ((eighth day)), that “Abdul Basit Turki, who combined the two, as the head of the Office of Finance and the Read more…

Parliamentary Finance warns of prejudice to the central reserve

Parliamentary Finance warns of prejudice to the central reserve

01/25/2015

Government in the House of Representatives Finance Committee warned of compromising the reserve currency of the central bank in order to avoid the economic crisis experienced by Iraq as a result of lower oil price.

A member of the committee MP Faleh applicable to Radio Free Iraq that “the Iraqi government to look for other alternatives away from sovereign reserve of the country,” he was quoted as saying, “The CBI independent institution, not subject to the government, Read more…

Iraqi Dinar Guru opinions 1-24-15

Iraqi Dinar Guru opinions 1-24-15

1-24-2015 Newshound Guru Kaperoni …the recent articles from the CBI indicating they are ready to “participate and promote development” are encouraging. I want to point out that Dr. Bakri [Economist] states the dinar “first needs to improve” (raise in value) before they can move to Article VIII. In other words, the float may be institutional and gradual before they accept Article VIII and a new Exchange Regime. I also get the impression that the dinar can be convertible worldwide without technically accepting Article VIII. And lastly, he says… “improvement comes through delete some zeros” which to me again seems to imply a gradual appreciation because as the dinar rises, zeros begin to go away… he did…confirm the process is moving along, that the reforms are happening, and there is promise…and more importantly the new GOI is moving in the right direction. Iraq’s economy is complex for sure. But I don’t think what we are looking for will take much longer. As for currency reform, the timing will be kept secret within the CBI… Read more…

Consultant Abadi reveals near the issuance of important economic laws revive the market and investment

Consultant Abadi reveals near the issuance of important economic laws revive the market and investment

Sat, 24 / January 2015 08:46

[Baghdad-where]

Revealed the appearance of Mohammed Saleh adviser to Prime Minister Haider al-Abadi Economic Affairs proximity of key economic laws contribute to the recovery of the Iraqi market and investment opportunities.

Said Saleh told all of Iraq [where], “a forthcoming law for cities and industrial industry mixed, and this is very important, and there is a law is for private Read more…

Iraqi Dinar Guru opinions 1-23-15

Iraqi Dinar Guru opinions 1-23-15

1-23-2015 Newshound Guru Millionday Article quote: “al-Hashemi, at a time when the country began preparations to face the economic challenges, confirmed the government agencies, including the Central Bank of Iraq readiness to take measures that will improve the economic reality.” THE ECONOMIC REALITY IS THE ACTUAL PRICING CALCULATION FOR THE REALITY VALUE OF IRAQ`S CURRENCY AND TRADE…CBI HAS CONFIRMED THAT THEY ARE READY TO TAKE THE MEASURES TO IMPROVE THE ECONOMIC REALITY AND THE BANK SHARES ALOT IN RAISING THE VALUE AND MODIFYING THE RATE TO GOOD INTERNATIONAL RATES AT THIS TIME OF ECONOMIC DEVELOPMENT FOR IRAQ – THE GOVERNMENT AND CBI IS STATING THAT THEY ARE READY TO TAKE THE MEASURES THAT WILL IMPROVE THE ECONOMIC REALITY — MEANING THE ACTUAL RATES AND RAISING THE PURCHASING POWER OF THE DINAR AND ALSO MOVING TO A MARKET ECONOMY AND ALL THAT IS PART OF THE ECONOMIC REFORMS…THE GOVERNMENT HAS NOT ANNOUNCED THIS BEFORE … Read more…

Iraqi Dinar Guru opinions 1-22-15

Iraqi Dinar Guru opinions 1-22-15

1-22-2015 Newshound Guru Millionday [what can the cbi do to help unemployment?] THEY CAN ADVANCE ALL OF THEIR BANKING FOR INTERNATIONAL BANKING AND PREPARE THE RATE FOR INTERNATIONAL ACCEPTANCE AND RAISE THE PURCHASING POWER OF THE DINAR SO THE PRIVATE SECTOR CAN AFFORD TO HIRE BY MOVING TO A MORE PRODUCTIVE MARKET ECONOMY. THEY HAVE ENOUGH RESERVES TO BACK THE CURRENCY 1 AND 1/2 TIMES WHAT THEY NEEDED TO SUPPORT THE VALUE. [In order for them to be able to exchange our dinar would they know how much is out there?] YES THEY KNOW EXACTLY WHAT IS OUT OF COUNTRY. IT IS UNDER STATS ON CBI SITE I BELIEVE AS WELL. Read more…

Parliamentary Finance: budget sent to parliament on Saturday by a deficit of 60 trillion dinars

Parliamentary Finance: budget sent to parliament on Saturday by a deficit of 60 trillion dinars

22/01/2015 07:04 GMT

Follow-up – and babysit – Parliamentary Finance Committee confirmed on Thursday that the final report of the draft federal budget law of the country for the current year will be sent to the House of Representatives next Saturday, while showed that the budget deficit ratio would be 60 trillion dinars in case the stability of the price of a barrel of oil at $ 40.
Said committee member Ahmed flesh in a press statement, said that “the total amount of the budget in 2015 amounted to 125 trillion Iraqi dinars,” noting Read more…

Iraqi Dinar Guru opinions 1-21-15

Iraqi Dinar Guru opinions 1-21-15

1-21-2015 Newshound Guru Adam Montana I’m not going to beat around the bush… things are getting intense! Budget being prepared based on 3.3 million b/d and $60 per barrel. I don’t like the $60 per barrel price, BUT: Iraq exported 4 million b/d in December and they are looking to increase their production… seeing as how Iraq has one of the largest reserves in the world, the HCL is sure to be completed very soon, the Kurds and Baghdad are playing nice (finally!!!), I believe the increased volume will easily make up for the lower price of oil and Iraq will have no problems with the budget as it is. It’s also important to remember that Iraq has barely scratched the surface of their reserves. As we watch them progress, with more and more companies investing into their production, it will continue to rise and a lot of experts even believe that Iraq will overtake Saudi Arabia as the world’s leading oil exporter… all that says to me is “COME ON, RV!” Read more…

Magda Tamimi: 2015 budget and fake like formulated in another world

Magda Tamimi: 2015 budget and fake like formulated in another world

Wednesday 21, / January 2015 08:49

[Baghdad-where]

Criticized a member of the parliamentary finance committee Majida al-Tamimi, strongly, draft financial budget law for 2015, describing them as a [phantom].

She said al-Tamimi told all of Iraq [where], “said the budget in 2015 and there are fake assumption for the price of oil and the export amount of non-existent, in fact, as if the current budget was prepared in another world, it is on paper, but in reality another form.”

And excluded Tamimi approving the budget soon, “we are still re in the formulation again and we have transfers Read more…

The Council of Ministers decided to pay a monthly budget to avoid crises

The Council of Ministers decided to pay a monthly budget to avoid crises

Wednesday,  21, / January 2015 11:24

[Baghdad-where]

Deputy Prime Minister Bahaa al-Araji said that “the Council of Ministers Payout budget for fiscal 2015 on a monthly basis, according to the wills and oil in order to avoid crises.”

Araji said in a statement received by all of Iraq [where] a copy of it, “given the economic conditions critical that Iraq is going through, because of the decline in oil prices, the Council of Ministers form a crisis cell to determine spending priorities and exchange Read more…

Zebari, a US official: we have a realistic budget to parliament and headed to increase oil exports

Zebari, a US official: we have a realistic budget to parliament and headed to increase oil exports

Wednesday,  21 / January 2015 12:34

[Baghdad-where]

Search Finance Minister Hoshyar Zebari, with Amos Houshstein US Assistant Secretary of State for Energy, financial and economic situation in the country and the volatility of oil prices in the global market.

According to a ministry statement received by all of Iraq [where] a copy of the “Zebari said that the government presented to the parliament’s budget close to the reality of the current situation, and pressed on Read more…

Iraqi Dinar Guru opinions 1-20-15

Iraqi Dinar Guru opinions 1-20-15

1-20-2015 Newshound Guru Millionday IT STILL IS EXPECTED TO BE ON WED FOR THE VOTE OF THE BUDGET AND IF NOT DONE THAT DAY THEY WILL ADDRESS IT THE NEXT SESSION — THE PARLIAMENT ENDED THE SECOND READING AND CHANGES ADDED LAST WEEK — SO THE NEXT IS THE VOTE. PARLIAMENT HAS ALREADY HAD IT AND READ IT THE TWO TIMES NEEDED. [WILL THEY PASS THE OTHER OUTSTANDING LAWS AFTER THEY COMPLETE THE BUDGET?] THEY HAVE STATED THAT THEY WILL BE ADDRESSING THEM ALL. Read more…

Iraq’s oil sold for $ 38 in world markets

Iraq’s oil sold for $ 38 in world markets

Posted, 01/20/2015

BAGHDAD / JD / .. Finance Committee revealed its intention to reduce the 10 trillion dinars from the ministries of oil allocations, defense and power in the federal budget, as pointed out that Iraqi oil sold for $ 38 in world markets.
A member of the committee MP Faleh Djiashi Agency / BD /: “The committee is Read more…

Finance: continue to discuss the budget and will be ready next Saturday for submission

Parliamentary Finance: continue to discuss the budget and will be ready next Saturday for submission to the Presidency of the Parliament

Tuesday, 20 January / January 2015 11:30

[Baghdad – where]

Parliamentary Finance Committee said Tuesday they will continue to discuss the budget for fiscal 2015 project and it will be ready by next Saturday, which means that the House will vote on it tomorrow in session Wednesday.

And the decision of the Commission Ahmed al-Haj told all of Iraq [where] that “the parliamentary Finance prepared Tqrbea budget by 80% project and today Read more…

Iraqi Dinar Guru opinions 1-19-15

Iraqi Dinar Guru opinions 1-19-15

1-19-2015 Newshound Guru Enorrste Article: “Conscious Central Bank: reserve the largest rates of good reserves of foreign currency” In the case of Iraq, they now have, according to this article, 150% coverage in reserves to back their currency. This means that they have $60 billion in dollars, euros, and gold sitting in the central bank. That is 150% of the money supply of about 40 trillion dinars, worth $40 billion, give or take. Therefore, having 100% backing their currency, or more, in this case, does not reduce the money in circulation. …it is and has been our position that the float will start at 1166 to 1 and rise from there. There is no evidence that an initial start rate will be higher than that in terms of value. The CBI would be foolish, quite frankly, to try to impose an artificial higher rate. Read more…

Iraqi Dinar/Dollar auction results 1-19-2015

Iraqi Dinar/Dollar auction results 1-19-2015

Results currency auction Announcement No. (2868)

The opening of the Committee on the sale and purchase of the daily dollar offers Tmnmaip and eight and sixty two thousand for the sale and purchase of foreign currency in the Central Bank of Iraq on Monday, a brief summary 01.19.2015 and the results were as follows:  Read more…

Iraq may resort to borrowing to cover the budget deficit in 2015

Iraq may resort to borrowing to cover the budget deficit in 2015

Posted 19/01/2015 12:52 PM

Finance Committee revealed the possibility of resorting to borrowing Iraq outside to cover the deficit in the current budget that the year 2015 because of falling oil prices.

A member of the committee MP, Jabbar Sharif, “The current year’s budget includes a paragraph authorizes the government going to borrow to meet the projected deficit spending by 47 trillion Iraqi dinars, either internally or externally, but the closest Read more…