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Mrs. BGG
Iraqi Dinar/Dollar auction (most recent listing) 06-07-16
Currency Auctions Announcement No. 3215
This daily currency auction was held in the Central Bank of Iraq on the 06-07-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 19 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 138,633,824 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 138,633,824 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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If we make peaceful revolution impossible, we make violent revolution inevitable. – John F. Kennedy
*** Current News ***
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In the parliamentary finance by calling for the support of banks and activating the deposit law
{Baghdad} Euphrates News called the parliamentary finance committee member Ahmed Sarhan, the government to support banks and activate the deposit law for the purpose of revitalization of the banking sector and development of the country’s economy.
The MP said Sarhan Ahmed told {Euphrates News} ” The development of the banking sector in Iraq is through the government support for the banks, as well as the Central Bank and funding required amounts to be able to fulfill their duties to the fullest , ” noting that “this depends on the amount found in the reserve the central bank “.
He pointed out that” the distribution of deposits in the state framework bank deposits law, enabling individuals to deposit their belongings in the banks and treats these holdings leads to a continuous movement between customers and banks. ”
explained Ahmed said , ” this will generate big banking movement will be development of the economy of this movement and through the deposit law , “noting that” these are the main things that you can state which move the banks and support so that it works properly and lead to the development of the Iraqi economy , as required. ”
he noted , ” what hinders revitalize the banking sector is the “lack of trust citizen banks the reasons and obstacles linked. ”
the economic expert on behalf of Jamil Antoine, said on the ninth of May,” the banking system in Iraq put a miserable. ”
said Antoine’s {Euphrates News}” with the rise in oil prices up to $ 50 per barrel , then the amount of of the budget deficit and opens the way for the Iraqi government to pay the debt and ease the burden on in addition to the economic budget move to create jobs at home , “adding , ” now there is an economic paralysis in the private sector and non – payment of the government ‘s commitments in addition to the banking system in Iraq in a desperate situation and this has exacerbated the problem and held more “.anthy 1
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Parliament will hold an extraordinary meeting during Ramadan to complete the reshuffle and discuss other crises
Guessed decision House Deputy Imad yokhna special meeting during Ramadan, noting that this meeting be for reshuffle and discuss the situation in the country.Yokhna said that the meetings and dialogues between political blocs continues on political and security developments in the country,
Adding that the hearing will be for the purpose of the reshuffle and therefore be attended by lawmakers, including members of the Liberal bloc, noting that this meeting will be devoted to discuss the situation in the country, yokhna said that the meeting would be held after the decision of the Federal Court and enter the reform bloc, adding that after the decision of the Court can hold several extraordinary meetings to discuss specific topics.
BGG: So Jubouri wasn’t kidding – they will work during Ramadan – “Extraordinary session” – to get the reshuffle finished and work thru whatever decision the Fed Court hands down.
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rcookie (Dinar Guru) – …IN SPITE OF ALL REPORTS CONFIRMING KURDS SHARE OF LOANS AT 17% PER 2016 BUDGET LAW CONSTITUTION…THE WB STEADFAST ABOUT KURD COMMITMENT TO DELIVERING THEIR OIL SHARE DUES…ELIMINATING STAFF REDUNDANCY AND MAKING THE SAME BUDGET CUT MANDATES THE GOI HAS ALREADY DONE…AND WILL COMPLETE FURTHER IN ORDER TO RECEIVE THE SBA LOANS…BIG SHOCK KURDS…NO MORE COOKING THE BOOKS AND GAME PLAYING…THERE ARE MANY INT’L PANELS OF AUDITORS THERE OVERSEEING…AND THE BANKING OVERSIGHT & REGULATION WILL GET EVEN TIGHTER NOW THAT CBI WILL BE IN ERBIL AND OVERSEEING ALL BANKING SECTOR…NO MORE 14 SEPARATE BANKS THEY CAN FUNNEL THEIR OIL SALES THROUGH TO HIDE…TRANSPARENCY…ACCOUNTABILITY….AND THE UST IS THERE AS A BACKDROP…AND THAT ALL STEMS FROM THE WB AUDIT AND REVIEW BACK IN NOVEMBER WHERE THE WB REP CAME OUT AND SPANKED KURDS SAYING THEY NEEDED TO GET THEIR FINANCIAL & ECONOMIC HOUSE IN ORDER…
Read More: http://www.dinarupdates.com/observer/
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Issuance of the Federal Court decision on the two sessions of the parliament next Wednesday
Information / BAGHDAD / ..It suggested the MP for the rule of law and a member of the parliamentary legal committee Ibtisam al-Hilali, Sunday, the release of the Federal Court decision on the two sessions of Parliament next Wednesday.
She said Hilali told / information /, “The House of Representatives rejected the principle of a political settlement, and they await the Federal Court decision, which we expect to be on our side (the front of the protesters),” she said, “not to attend the Front parliamentary sessions until after the court’s decision.”
Hilali and suggested a “declaration of the Federal Court decision on the different sessions of Parliament on them next Wednesday,” pointing out that “some MPs from other blocks from all sides have the desire Login with reform front soon.”
The Federal Supreme Court has postponed at its last Sunday considering the grounds of appeal submitted Bgelsta the House of Representatives to the eighth month of June current. Finished / 25 El
Almaalomah.info
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Poppy3 (Dinar Guru) – just off phone and report… in iraq flag now flying over mosul. IT WAS REPORTED ABADI RAN IT UP HIMSELF AND THE REPORT IS THEY HAVE CONTROL. WE KNOW THERE WILL STILL BE MORE FIGHTING IN AREAS BUT THEY HAVE TAKEN ALL FOUR AREAS OF THE TOWN. GLORY THEY ARE IN CONTROL. I CONTINUE TO PRAY THE PEOPLE OF IRAQ GET WHAT THEY NEED IF SO WE WILL HAVE OURS…THEY ARE MOVING FORWARD FOR YOU AND ME.
Read More: http://www.dinarupdates.com/observer/
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Iraq received the first payment of the loan and the parliamentary financial implementation under Basra
Special balance news – Financial Committee, said Saturday that Iraq will receive $ 800 million dollars as the first batch of International Monetary Fund loan.
The Committee Member said Sirhan Ahmed/the balance of news, that “Iraq will receive $ 800 million dollars as the first batch of IMF loan, over the next few days.”
Ahmed added that “this amount will be allocated to supporting the 2016 budget exclusively,” by saying “there is no truth to reports that talked about under Basra, that this place is a disgrace.”
It is said that the IMF and the World Bank and international partners agreed on 19 may 2016, Iraq grants a loan of $ 15 billion and 1.5%. And that News International Monetary deliberated conditioned on Iraq Basra mortgage for loan grant.
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firefly (Dinar Guru) – Article quote: “The agreement with the IMF should unlock a total of $18 billion in international assistance over three years, said Zebari, citing the World Bank and the Group of Seven leading industrialized nations among other donors.” IMO Iraq is renegotiating concessions, and payments to help them push this currency shift ahead.
Read More: http://www.dinarupdates.com/observer/
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Iraqi banks association with representatives of the u.s. Treasury Iraqi banks updates
Iraqi private banks Association discussed with a team of u.s. Treasury akhralmstgdat belonging to the banking sector in Iraq, and Iraqi private banks Association representatives provided a comprehensive overview of development banking constraints and delimiters facing private banks, as referring to the Association’s efforts to develop efficient banking sector particularly in combating money laundering and financing of terrorism, through training of workers in this sector in cooperation with the Foundation for global ACAMS.
The us Treasury representatives referred to the decision of the Central Bank regarding stop 300 banking company for the purpose of subjecting them to scrutiny by the Central Bank’s standards, but it’s also the representatives of the u.s. Treasury support for CBI plans for development the sector and banking llmaaiiraldolih in combating money laundering and terrorist financing.
Developing the sector has also been addressed and should overcome to take a real course.
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For a peek at all the most up-to-date DU News – check the Iraq News Thread (in the forum)…
http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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Economists Divided Over Deletion Of Zeros
By Amina al-Dahabi for Al-Monitor.
The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003 (the CBI has – or at least some in the CBI – the GOI, not so much, historically). This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided. While some support the project and consider it a chance to decrease inflation and unemployment, others warn of economic shocks that may prevail over the Iraqi market as a result of the project’s implementation.
Following amendments made by the CBI, implementation of the project has been postponed several times. This is because of fears that are mostly related to the lack of security, the presence of a market open to foreign commodities without any restrictions, the prevalence of counterfeit money in the market and rampant corruption in the country.
The independent Iraqi News Agency (INA) quoted Abdul Hussein al-Yasiri, a member of the Iraqi parliamentary Finance Committee, as saying that 2014 will witness the deletion of zeros from the Iraqi currency. He noted that the deletion will occur in coordination with the CBI, and that as a result of the project, the number of banknotes in circulation will be reduced from 4 billion to 1 billion.
Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.
The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.
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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 | 1341.452 | 1340.781 |
| British pound | GBP | 1701.134 | 1700.284 |
| Canadian dollar | CAD | 919.415 | 918.955 |
| Swiss franc | CHF | 1212.308 | 1211.702 |
| Swedish krona | SEK | —– | —– |
| Norwegian krone | NOK | 144.343 | 144.271 |
| Danish krone | DKK | 180.359 | 180.269 |
| Japanese yen | JPY | 11.053 | 11.047 |
| Special Drawing Rights |
SDR | 1669.102 | 1668.268 |