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Word for the day…
Proverbs 19:23 (NIV)
23 The fear of the Lord leads to life;
then one rests content, untouched by trouble.
Heavenly Father, thank You for the fear of the Lord! Thank You for contentment! In Jesus Name, Amen.
Mrs BGG
Iraqi Dinar/Dollar auction 17-09-15
Currency Auctions Announcement No. 3038 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 17-09-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 27 |
| Number of remittance companies | 4 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 170,079,150 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 170,079,150 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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Kaperoni – Article quote: “Finance Committee in the House of Representatives propose to the central bank and the government to adopt “restrictive flotation” in the auction currency...” I do believe, once they stabilize the country and get the economy going, the CBI will float the dinar. How and when that starts is yet to be determined. The good news is these kinds of articles seem to be more frequent.
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Parliamentary Finance proposes the adoption of «flotation unrestricted» for the price of the dollar and the Centeral Bank «reserves» meet the needs of the market
The head of the Finance Committee in the House of Representatives, Haitham al-Jubouri, said in an interview to the correspondent of “the world”, yesterday , that there are three ways to deal by central banks with foreign currency; first is made up by the “limiting factor” to be adopted by the CBI, which includes a fixed exchange rate to the dollar price, and inject dollars into the market to maintain the stability of the price.
The second method is called “flotation “Jubouri explains that it” thumb market is controlled exchange rate, “noting that” this way pose a threat to the exchange rates, being subjected Iraqi dinar to collapse.
“include third way, a” floating orbit “, or restricted, according to al-Jubouri, the” Select a specific dollar price, and another represents a maximum him, to leave that currency floats between these two prices.
“Jubouri He said that if exchange rates exceeded the maximum the central bank to pump quantities of the dollar as the local market need, noting that his committee suggested the central bank and the government Adoption of this method “being the best, and supported in most countries of the world.”
The Jubouri revealed earlier to send 15 thousand purchase invoice currency “rigged” to justice, and stressed that a large number of companies that have turned to money “fake”, as called for the formation of a competent financial courts financial matters.
For his part, sees the Board of the Central Bank member Majid picture in connection with “the world”, said the bank is trying to maintain the stability of exchange rates, adding that the monetary policy and instructions “change according to economic conditions experienced by the country.” .
and see world oil prices since the middle of last year continuous decline, because of the use by some countries to increase Marodha against the lack of demand for it.
He says that the picture of the monetary Bank reserves fell to $ 60 billion due to lower crude prices, but he assured that this decline does not threaten the collapse of the local currency “Being fill 160 percent of the money supply of the Iraqi dinar.”
The governor of the Central Bank on the Keywords may Hoon earlier fears, which says that the continued downward pressure the Iraqi dinar, which sells “the central bank” to banks and dealers who obtained licenses at a price fixed in 1166 dinars to the dollar .
“If we look at the markets these days, we will see that the price is very stable, and very reasonable.”
The local currency plunged to about 1400 dinars to the dollar on the parallel market in mid-June 1228 week earlier.
As part of the government’s efforts to bridge the budget deficit, marketed Baghdad, the first version of its international bonds in nine years in Europe and the United States this week.
The government Taml collect six billion dollars of those dollar-denominated versions, but Keywords said that the first phase will be to collect two billion dollars, and the expectation that the interest rate exceeds the eight percent due to concerns security.
Baghdad is also planning to issue local bonds worth five billion dollars, starting from the last quarter of this year.
http://www.alaalem.com/index.php?aa=news&id22=32149
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(Please note – we are posting daily News Articles slightly differently now)
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Urgent .. statement issued by the Central Bank of Iraq
The Central Bank of Iraq confirmed that the House vote on the money laundering law will provide a legal framework for the banking sector.
The bank said in a statement that he appreciates the House vote on the anti-money laundering and smuggling of funds law as it finds that the law provides a legal and regulatory framework ahead and in line with international standards and requirements.
The bank pointed out that the law would provide legal frameworks for the banking sector.
The House of Representatives voted, during its meeting of 23, which was held on Wednesday (16 September 2015), headed by the Vice President of the Council Hamoudi and the presence of 195 deputies, the draft anti-money laundering and terrorism financing law.
ANNOUNCEMENT IS ON CBI SITE.
Parliament postpones vote on the second amendment to the investment law
The Board of Representatives, on Wednesday, to postpone the vote on the draft law of the Second Amendment to the Investment Law No. 13 of 2006.
A parliamentary source said to the reporter Agency / information / “The House of Representatives to vote on the amendment until after the Eid al-Adha holiday for the existence of the legal observations”.
The House of Representatives held today, 23 of its first legislative term of the second legislative year, in the presence of 195 deputies and headed by First Deputy Speaker of Parliament Hamoudi. Finished / 25 Q
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Bloomberg: Central Bank sees limited risk of devaluation
Tomorrow/Baghdad: the Governor of the Central Bank, Mohsen Al-allaq, said Iraq has enough foreign reserves to maintain the economic status, but has not ruled out devaluation of the dinar to support affected government revenues due to falling oil prices and the cost of war against daash…
BGG ~ Right after this Doomberg article I assured everyone – not to worry, this whole article is based on comments by the “Maliki-proxy” Gov of the CBI (who probably won’t be there much longer)…
Parliamentary Finance: strong and modern Iraqi dinar opposite just rumors
Zora / Duraid Salman: Parliamentary Finance Committee has ruled out the possibility for the collapse of the Iraqi national currency against the backdrop of the financial crisis that beset the country, and described the news you are talking about as “rumors” promoted by some currency traders in order to achieve an illegal advantage, as he emphasized that oil imports enough yet to pay salaries Mozvin.oukal Committee member Masood Haider Rustam told the “Zora”, yesterday: news that talk about for the collapse of the Iraqi national currency due to the financial crisis, are just “concerns incorrect and untrue,” attributing the cause to that of the Iraqi dinar strong enough to withstand .
Rustam said: that the amount of the Iraqi dinar circulating in the market currently estimated at about 40 trillion dinars, and Iraq has a financial reserve of hard currency is estimated at 60 billion dollars, that is as much as 150% of the Iraqi currency.
Said Rustam: that is the hard currency which gives the value of the Iraqi dinar, and therefore “these concerns intervention in the door of the rumors, the fact that some hard currency traders want to take advantage through the launch.”
And on salaries and the government’s ability to pay regularly without problems, Rustam said that Iraq sells oil and imports enough to pay staff salaries, noting that Iraq is a real need to austerity, particularly as the number of employees in it is very large compared to neighboring and international standards countries, and it needs to program reform of government.
Rustam believe: that the economic situation in Iraq and the world swing, and the economy can not be certain the occurrence of a certain thing or do not say for sure.
So said a member of the parliamentary finance committee pros Hamadoun Hamid Hassan buckets for “Zora”: The oil reserves in Iraq large, as well as the Central Bank’s foreign currency reserves, they are “available and large”, so the salaries in safety, and talk about the possibility of a “collapse in the former national currency early. ”
And on the financial liquidity showed a member of the economic and investment commission parliamentary Najiba Najib, the financial bond issuance will not meet the obligations of the financial state, as pointed out that Iraq is suffering from providing liquidity Almalah.oukalt Najib: that the issuance of securities is one of the means resorted to by the state after the fall in prices oil, comes from the phrase measures to increase fiscal revenue, indicating that the House of Representatives to grant powers and vacation legitimacy to issue bonds and sell them in international markets.
Najib said: that the bond issue, amounting to $ 6 billion will not meet the financial obligations of the state and be covered under the current circumstances, pointing at the same time that Iraq is suffering from the provision of liquidity, but the government is moving to increase revenue.
The central bank earlier announced his intention to launch bonds in favor of the Ministry of Finance worth two billion dollars, and as pointed out that the bonds due and payable by the end of 2016, confirmed that it can be used as collateral for loans or facilities require collateral.
BGG ~ This article was put out immediately after the Doomberg article – perfect rebuttal to Alak’s ridiculous comments (the “Maliki-proxy” interim Gov of CBI )…
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Commercial Solicitation
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CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1166.000 | 1164.000 |
| Euro | EUR | 1309.185 | 1308.530 |
| British pound | GBP | 1799.138 | 1798.238 |
| Canadian dollar | CAD | 884.808 | 884.366 |
| Swiss franc | CHF | 1195.407 | 1194.809 |
| Swedish krona | SEK | 140.538 | 140.468 |
| Norwegian krone | NOK | 141.710 | 141.639 |
| Danish krone | DKK | 175.470 | 175.383 |
| Japanese yen | JPY | 9.690 | 9.685 |
| Special Drawing Rights |
SDR | 1639.839 | 1639.019 |