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Iraqi Dinar/Dollar auction (most recent listing) 03-21-16
Currency Auctions Announcement No. 3161
This daily currency auction was held in the Central Bank of Iraq on the 03-21-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 22 |
| Number of remittance companies | 19 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 77,067,600 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 77,067,600 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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Three presidencies agree to conduct a cabinet reshuffle within a week
Three presidencies decided at the conclusion of the formation of the first meeting of the two committees to follow up the ministerial reforms and adjustment in a week and the other to communicate with the protesters.
According to an official statement issued by the Presidency of the Republic it was forming a committee represented by all political factions and representatives of the three presidencies that would follow up the implementation of the reform measures and alterations ministerial week and activate the work of the Supreme Council for the fight against corruption and speed up the resolution of independent bodies You were also at the meeting approve the formation of a committee of the two communities and their representatives liaise Palmatsaman, was emphasized at the meeting on the need for the work of the House of Representatives on the completion of stalled and delayed the legislation of laws.
This rolled reactions of the political blocs about what was announced after the three presidencies and political leaders meeting yesterday.
Where House Speaker Salim al – Jubouri confirmed that it was agreed to hold a round of dialogue with the protesters , with an emphasis on the importance of preserving the prestige of the state while the head of the Islamic Supreme Council Ammar al – Hakim stressed the need to move forward with comprehensive reforms in accordance with the program and clear policies with re – examine administrative clades in Iraq starting from the post of the minister to the agents and general managers, while the leader of the Front confirmed Saleh al – Mutlaq dialogue that the meeting of the political blocs praised the high discipline of the demonstrators and reiterated his support for a radical change in the political process , while a coalition of state law , the protestors attacked considered mobility violation of the Constitution and poses a security challenge and a gateway to re – scenario Mosul and Anbar.
Allawi calls for the formation of saving the Council and the involvement of the tribes in the political process
For his part , President of the National Coalition , Iyad Allawi , to form a rescue board to oversee the political process and the formation of a new cabinet of ministers independent of the parties indicated during a press conference to the need to achieve national reconciliation and the abolition of political quota system as well as change the electoral system to ensure the integrity and the enactment of the law of parties , stressing that the previous elections have involved a great imbalance.
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rcookie – WHEN YOU CONSIDER ALL OF THE RECENT NEWS AND DIRECT RELEVANCE TO PROGRESS AND STATUS FOR THE EVENT WE ARE LOOKING FOR…ALONG WITH IMF LOI/MEFP/TECH MOU…ARTICLE VIII PROCESS & STATUS…WTO ACCESSION UNDERSTANDING & STATUS…THESE THINGS WILL HELP YOU SLEEP MUCH BETTER..
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tman23 – Iraq IQD was to be a special situation…And a country that had an imposed rate because of war but for years carried a $3 plus rate… It is logical to believe the imposed rate could be lifted and return to the $2.85 – $3 plus that it carried for 50 plus years…
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Tlar – The question in my mind is only this. Is the government considered stable enough. That is a question left to better minds than I have, but in my mind, the Iraqi government is as stable even with all its problems, as many who are openly trading in the world. No promises and don’t hold me too it but I think Iraq is on track to join the world economy whether the government is done or not. I am still very hopeful that it is this month on or before March 31st. There are more than just a few signs that at least that is a target in my mind. Whether they hit it maybe another thing altogether.
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Tlar – The political problems are serious and hopefully they will be resolved as fast as they can be peacefully. I believe the economic problems will also be resolved when they are ready to be resolved. Most folks in dinar land see these two issues as intertwined and it may well be, but I tend to think of these two issues as separate issues meaning they are not necessarily intertwined whereby the political issues have to be resolved first in order for the economy to be started. I see them as two separate issues with equal importance. There are many countries with political issues that still have internationally accepted currencies.
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Civilized dialogue – The dollar and the dinar (again)
Prevailed Ottoman Currency Iraq, such as Bakjh and Alorkh and Alsag and lunar and shark and Majidi gold lira, etc., and after the First World War and the entry of British troops Iraq, has become Anna Indian rupee is the official Iraqi currency and even in 1932, in which the Iraqi dinar was issued, it was equivalent to 13 rupees, has linking the pound sterling continued until 1959 where he became linked to the US dollar, and was then the equivalent of $ 2.8.
It achieved the Iraqi dinar, which is equivalent to a thousand fils, best distract him prices in the seventies when he equaled more than $ three remained conservative on almost its value against the US dollar during the Republican era, ie equal to three dollars and a third, but its value goes up at times for this price because of the boom economic witnessed in Iraq, especially in the second half of the seventies. This era also saw for the first time to determine the foreign exchange operations and business banking and infinite validity Iraq’s central bank as a result of the adoption of the socialist system as an economic system of the Iraqi state, has been printed and punching all versions of the Republican era of currency in Britain, it has been customized and very high quality as it were relevant forms wonderful art.
Wars have led to high rates of inflation:
Faced Dinar madlat inflation high, especially after Iraq’s wars with Iran and America, which led to the collapse of the value of the dinar, according to financial experts that repeated elevations of the dollar and then relegation to the first levels, which the country has seen in recent times is not just a bubble caused by speculation, but returning to a variety of reasons objectivity, the state intervened in a part thereof, and the citizen is the only loser in the game of the dollar, and most important:
1. falling oil prices, which did not bracing his Iraq, although he did not get a sudden.
2. Adoption of the Iraqi economy on oil revenues only and the neglect of other sectors such as industry, agriculture and tourism.
3. who waged war against the country Daash and allocate a large part of the budget for the purchase of arms and the salaries of the soldiers.
4. resort speculators in the Iraqi currency market to raise prices, taking advantage of the security and political unrest in the country.
5. impose taxes and fees that came in the budget of 2015 and the application of the austerity policy, as well as the extraordinary security situation experienced by the country, which contribute much to lift the dollar’s exchange rate against the dinar, and the lack of any clear plan for the advancement of the country’s economy is influential factors directly.
6. Purchase capitalists funds large amounts of dollar and keep it as a result of instability, that the unstable political and economic conditions to pay the owners of capital to smuggle money and so motivated to get profit and the search for a stable economic environment in light of the gloomy outlook which was the subject of the increasing smuggling of currency, especially the most influential in Iraqi politics today are the haves nationalities other than Iraq and therefore they are turning Meixbonh in Iraq to other State.
7. According to the law of the state budget, which began in Parliament on 29 January last, which stipulates that the central bank is committed to identifying sales of hard currency [the dollar] in the daily auction ceiling does not exceed $ 75 million a day, with the exercise of justice in the sales process, and calls for participating in the auction the bank providing the introduction of cargo documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of buy the amount and otherwise applied to the bank penalties stipulated in the Central Bank Act or regulations issued from it, and use other banking instruments to maintain the strength of the dinar against the dollar.
Mr. Abadi adviser statement:
Mr. Abadi to Aokd adviser statement came the rumors about a possible undersupply of the dollar and pointed out that “a determining central bank sales of the dollar in its daily auction was due to financial distress, home to Iraq and maintain the bank’s foreign currency reserves.
He added: “We have in Iraq uncontrollable commercial and there are goods in the market is not worth the importation where there are stocks of durable household as materials and cars suffice Iraq for several years, but the import is continuing and this exhausts the state budget.”
Between last year and this year:
This is exactly what happened in the last year where it began the value of the dinar is falling apart gradually against the dollar and over more than five Ochehrdon to turn one of the politicians of the topic or is developing a treatment challenge of it, so the dollar has reached more than 140 thousand Iraqi dinars and expect everyone continued to climb to reach at least 150 thousand, however, Mr. Prime Minister, and as one who was asleep and win terrified, he came out in the media to declare that he does not allow such a situation and that the dinar must return to the former Sarcherah, and the fast-track re-value of the dinar, which link within months, and in a few days !
Such action make much explains the situation like this, which has damaged the generality of the people of merchants and citizens, as being the complicity of the state with the market brokers, and banking offices, which are the property of the party’s powerful, it was earners president who has done the state is deselected dollar amounts sold in daily auctions at the central bank for $ 75 million in each auction, and submit them sometimes for up to more than $ 300 million, and the state agreed to the proposal of the Central Bank of Iraq delete custom duty and tax levied on the purchase of the dollar, amounting to 8 -; -% -; – “.
Called for the beneficiaries of the currency traders to increase the price to maintain their profits Aleomah.uetoly central bank also monitor these processes into a streamlined and transparent mechanism, with the development of creating capacity plan to activate documentary credits instead of the current method and coordination with the banks, and in return, the Aeltagrandma exposed to any loss it recovered from the citizen through multiple methods of monopoly goods or the imposition of additional amounts of the goods, and therefore the damage is due first and last on the ordinary citizen, so there must be a delicate balance in the process of reducing the exchange rate of the Dollar against the rising value of the dinar.
Processors are needed:
It must be an overall reduction of all state expenses quickly and in force before the cash for the disaster, and the state should not borrow loans and the benefits great because they mortgaged the future of Iraq attendees.
The important point must be the Iraqi government multiple sources of income from industry, agriculture, tourism and real encouragement to build economically strong country, Iraq, Turkey Fagarah oil does not have, however, more than the annual income of 800 billion dollars.
Of the most important treatments that help sustain the process of economic progress Hoanchae projects commensurate with the needs of the community, and that will strengthen the economy and occupy the workforce and stimulate the work of all sectors in the trend towards self-sufficiency to a certain extent a first step towards the development of scientific solutions to economic stability, which is a step a necessity for the recovery of the life of society and psychological stability and living standards for all citizens, and should reject any mortgage for Iraqi oil wells that threaten Iraq’s economic future completely.
Read More: http://www.dinarupdates.com/showthread.php?32181-Civilized-dialogue-Mobile-The-dollar-and-the-dinar-again
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Economist: central bank policy will push Iraq into a false bankruptcy
[Where – Baghdad] criticized the economic expert, on Monday, the central bank ‘s policy wrong stressing that it will push Iraq toward bankruptcy.
Said David Zayer told all of Iraq [where] that ” the decline in central bank sales, confirms that its reserve is unable to secure the required in the market , ” pointing out that ” the political misconceptions followed by the central bank will push Iraq into bankruptcy.”
He pointed out that “there is a process looting systematic bankruptcy Iraq from its reserve of hard currency , “stressing that” the central bank assumes this responsibility. ”
He pointed to” the presence capable of providing hard currency to the market through the export of Iraqi products of cement and Alburk and soil electrical appliances and local products in exchange for hard currency in the market laws Iraq. ”
he stressed that” the central bank reserve ratio less than 40% and it handles Bmtatih through his remarks about the rise and fall of reserves. ”
it was House Speaker Salim al – stressed earlier in the need not to drag of foreign currency reserves in the Central Bank of Iraq and the importance of legislation Finance Court Act to fight corruption.
and labeled a member of the parliamentary finance committee Majida al – Tamimi, the Iraqi Central Bank ‘s policy in the auction to sell the currency as “serving the corrupt.” According to the plan.
The statistics of the Central Bank of Iraq reported the sale of 2.5 bank billion dollars during the month of February the second low of more than $ 800 million from January last , who sold the bank more than $ 3.3 billion.
It was noted recently that the central auction sales recorded a decrease is Near her months ago where he did not exceed the number of the 100 million days barrier compared to previous – month period and even after the financial crisis that began with a decline in oil prices in July 2014 were ranging from 225 to 300 million dollars and sometimes more.
and raised suspicions of corruption , fraud and money laundering through bank auction Central where he announced, specializing in national integrity and economic crime and money laundering a misdemeanor court, on 20 August issued sentences of imprisonment and a fine against officials in the Rafidain and the north after being convicted on charges of corruption and money laundering, banner earlier in the presence of 20 defendants in these cases , some degree chairman of the board of Directors. ”
http://www.alliraqnews.com/modules/news/article.php?storyid=33455
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CURRENCY CODE SELL BUY
Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1336.960 | 1336.292 |
| British pound | GBP | 1697.707 | 1696.858 |
| Canadian dollar | CAD | 910.351 | 909.896 |
| Swiss franc | CHF | 1220.192 | 1219.582 |
| Swedish krona | SEK | 144.684 | 144.612 |
| Norwegian krone | NOK | 141.077 | 141.007 |
| Danish krone | DKK | 179.330 | 179.240 |
| Japanese yen | JPY | 10.487 | 10.482 |
| Special Drawing Rights |
SDR | 1664.020 | 1663.188 |