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Iraqi Dinar/Dollar auction (most recent listing) 09-29-16
Currency Auctions Announcement No. 3287
This daily currency auction was held in the Central Bank of Iraq on the 09-29-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 110,371,703 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 110,371,703 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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When life gives you lemons, apply for a business license, a food service license, and a sales tax license and make lemonade. – Will Spencer
*** Current News ***
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The Peshmerga under the command of al-Abadi and increase the budget of the Kurdistan
Revealed a Lebanese newspaper, on Friday, the details of the agreements that have taken place during the President of the Kurdistan region Massoud Barzani ‘s visit to Baghdad and his meeting with Prime Minister Haider al – Abadi, as pointed out that among the agreements that were made Peshmerga under the command of al – Abadi and increase the province ‘s budget in the fiscal budget for next year.
The “News” newspaper in a report on its issue today, and seen by / information /, said that “close to al – Abadi sources, and other Kurdish agreed to get agreement on the key issues in dispute, at the forefront of the battle to liberate Mosul and the participation of the popular crowd and the peshmerga, as was the develop a mechanism to reach solutions on economic and financial issues between Baghdad and Erbil, in regards to the oil agreement.
The paper said, ” The agreement on the roles and missions distribution in the battle to liberate the city of Mosul anticipated, between the Iraqi army and the crowd and folk peshmerga”, noting that ” the last will be under the command of al – Abadi and within the Joint Special Operations Command, according to what was agreed upon in New York during a meeting Abadi US president Barack Obama”.
The paper that ” a source Kurd told her to cancel the recent agreement between Baghdad and Erbil, and work on a new mechanism on oil exports and revenues mode, likely to be raising the region ‘s share increased by 3% to 20% in order to enable the region to pay employees ‘ salaries and benefits, after a wave of anger tidal began earlier this week. ”
rcookie (Dinar Guru) – BARZANI IN BAGHDAD FOR 1ST TIME IN 5 YEARS TO MEET WITH ABADI AND BLOCS…GOING TO BE HUGE WEEK..
Read More: http://www.dinarupdates.com/observer/
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Erbil-Baghdad have ‘agreed to solve’ all disputes, Kurdish president says
BAGHDAD, Iraq – Following a meeting with the Iraqi prime minister in Baghdad on Thursday, Kurdistan Region President Masoud Barzani said that Erbil still maintained relations with Iraq and that both sides sought to solve all disputes through dialogue and understanding.
“The Kurdistan Region looks at its relations with Baghdad with strategic depth,” Barzani told reporters in a joint press conference with Iraq’s Prime Minister Haider al-Abadi.
“With the PM (Abadi) we have agreed to solve the disputes, especially economic and oil and gas and seek a better solution for all them all,” he added.
Barzani arrived in Baghdad Thursday at the head of a top level delegation consisting of senior leaders of five Kurdish political parties for talks with the Iraqi premier and other political leaders.
At the press briefing, Barzani said he congratulated Iraqi troops and Peshmerga forces for their recent victories against “terrorists” of the Islamic State (ISIS) and that “all other areas still under their control will soon be liberated, too.”
Iraqi PM Abadi said he welcomed Barzani “to Baghdad the capital of all Iraqis” and that his government worked “for the prosperity of all Iraqis from Zakho to Fao,” using a local term that refers to the territorial integrity of Iraq from its Kurdish north to the southernmost point of the country.
The Kurdish president has made very few visits to the Iraqi capital since the overthrow of Saddam Hussein’s regime in 2003 and therefore Thursday’s visit was considered groundbreaking and crucial for mending the breakdown of relations between Erbil and Baghdad.
His visit comes ahead of a looming offensive against the Islamic State (ISIS) in Mosul, in which Iraqi and Kurdish forces have agreed to cooperate.
Muthana Amin, a Kurdish MP in the Iraqi parliament told Rudaw that he believed Barzani’s visit would benefit the Kurdistan Region and may end a series of crises that were caused by his refusal to deal with the Iraqi central government.
“There have been a number of ongoing crises between Erbil and Baghdad and we as other parties have always believed that Barzani staying away from Baghdad has harmed the people of Kurdistan and their source of livelihood,” Amin said. “This has created problems that neither Barzani and his party want, nor the people of Kurdistan. Now that he has returned to Baghdad, it is something we all welcome, and better late than never.”
Amin said that among the main topics of talks between Barzani and Iraqi leaders were “Iraq’s budget, which we in parliament expect to receive next week.”
“The delegation will not get into its details but they will be given an outline and policy of the new budget,” he added. “The second is the Kurdish independence referendum which Mr. Barzani is pursuing and he must bring it up there.”
Rudaw.net
Iraq meet today to examine the demands of Sadr
Special – the balance of news – Detect parliamentary block spokesman, Habib, owned by Terminal Friday, to Iraq, meet Saturday night, headed by Ammar al-Hakim, leader of the Alliance to sadrist demands study.
The Terminal said, l/News, scales “Iraq, will meet this evening, headed by Ammar al-Hakim, leader of the Alliance, and in the presence of all.
He added a block of representative citizens spokesman, said “the meeting will examine the demands made by Parliament, Sadr to resume attending meetings of the National Alliance.”
PACI held Iraqi National Alliance, last Monday, the first meeting in the presence of Prime Minister and National Alliance leaders and representatives, Ministers and Governors of the National Alliance
Read More: http://www.dinarupdates.com/showthread.php?41854-Iraq-meet-today-to-examine-the-demands-of-Sadr
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Kaperoni (Dinar Guru) – Article: “Float the Iraqi dinar economic phenomenon that will support the national currency” hopefully the plan will be put in place soon so Iraq can start to create a private sector. The dinar is key to that success.
Read More: http://www.dinarupdates.com/observer/
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Sadr: Barzani supports our directions
Baghdad scales news – Vice President of the Sadr political body judge Jaafar al-Musawi, the approval of the President of Kurdistan, Massoud Barzani, on all the points raised by the delegation of political organisation.
Musawi said after a meeting with Barzani extended in accordance with the statement/balance of news/copy, “the meeting discussed the election law and the higher Commission of elections and forming a cross block party and sectarian quotas in addition to problems between the Center and the territory and liberate Mosul.”
“Barzani assured full support and agreed with all the points raised by the delegation of Iraq’s Diwaniya and Sadr orientations and future vision.”
The head of the territory extended a formal invitation to Sadr’s political body to visit the territory in order to complete the talks and unify positions of Iraq out of the spiral of violence and corruption ”
Read More: http://www.dinarupdates.com/showthread.php?41840-Sadr-Barzani-supports-our-directions
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BGG (Dinar Guru) – Article quote: “…he said Hafiz said the deal is going on in economic circles on the text submitted an analysis of the budget in 2017 to be taken into account fundamental issues in dispute , particularly the exchange rate of the Iraqi dinar…” they are in the middle of making some final “re-workings” on the 2017 budget… one of them sounds like some different exchange rate…which is weird… how can they “decide” what the price of oil will be – or their exchange rate… unless they already know.
Read More: http://www.dinarupdates.com/observer/
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Yuan joins IMF’s elite reserve currency club in a milestone moment for China
The yuan becomes the fifth member of the prestigious SDR basket on Saturday, but more reforms are needed before it is a freely traded currency, say analysts
China’s yuan joins an elite group of reserve currencies created by the International Monetary Fund on Saturday in a move hailed as a milestone in the country’s rise to global financial prominence.
From tomorrow, the yuan, also known as the renminbi, will become the fifth member of the IMF’s prestigious Special Drawing Rights (SDR) basket of currencies, alongside the US dollar, euro, Japanese yen and British pound.
Analysts say it marks the beginning of a new era for the yuan, paving the way for its wider adoption in international trade and bolstering China’s status as a key player in the global financial system.
However, they also say that Beijing would need to carry out more reforms in the years ahead to push the internationalisation of the yuan, as it is now the only SDR reserve currency that cannot be fully traded. International investors still face a lot of restrictions in trading in yuan-denominated bonds and stocks.
Peter Wong Tung-shun, chief executive of the Asia-Pacific region for HSBC, described the inclusion of the yuan in the SDR basket as “a landmark moment in the renminbi’s journey towards becoming a truly international currency.”
The SDR is an international currency reserve created by the IMF in 1969 to promote trade, increase liquidity and supplement member countries’ official reserves during financial crises.
Beijing first started to allow use of the yuan outside the mainland in 2003 when it let Hong Kong banks conduct certain designated business in the currency. In 2009, it started to push the currency harder, permitting international companies and businessmen to settle trade in yuan, and a year later allowing the yuan to be used in investment.
In November last year IMF managing director Christine Lagarde declared that the yuan satisfied the two main criteria for inclusion in the basket, namely that it was “widely used” and “freely usable”. The IMF announced the yuan was to become its fifth reserve currency in December.
“The SDR inclusion now formally catapults it into the ranks of the world’s most important reserve currencies, and will give greater confidence to companies and institutions around the world to settle trade in yuan and invest in yuan-denominated assets,” Wong said.
“Going forward, we believe the Chinese authorities will continue to deliver financial and capital market reforms, gradually opening the door to more cross-border flows, and ensuring that China and the renminbi become increasingly integrated into the global financial system.”
Wong said Hong Kong, as an offshore yuan trading centre and a key financial and asset management market, would play a pivotal role in the internationalisation of the yuan in the future.
China is likely to let the yuan become fully convertible only when its economy recoversMARC CHANDLER, BROWN BROTHERS HARRIMAN INVESTOR SERVICES
Marc Chandler, global head of currency strategy of Brown Brothers Harriman Investor Services, described the yuan’s induction into the SDR basket as “an acknowledgement of the immense strides China has made since the 1970s, and especially since its entry in to the World Trade Organization in 2001.”
The World Bank last month sold US$700 million in bonds denominated in SDR, the first such issue in more than 30 years.
“In the bigger picture, the role of the yuan as a reserve currency can only go up. The IMF has estimated that the yuan accounts for about 1 per cent of global reserves,” Chandler said.
King International chief executive Jasper Lo believes it may need five years for the yuan to become fully convertible.
He said: “The mainland economy is weak and a fully convertible yuan now would lead to capital outflow. China is likely to let the yuan become fully convertible only when its economy recovers. This may need about five years time.”
On the eve of its including in the SDR basket, the yuan remained weak, trading at 6.6698 per US dollar, down almost 7 per cent in the past year.
Article Link
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Iraq:
Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1326.795 | 1326.132 |
| British pound | GBP | 1538.728 | 1537.958 |
| Canadian dollar | CAD | 892.614 | 892.168 |
| Swiss franc | CHF | 1216.926 | 1216.317 |
| Swedish krona | SEK | 137.536 | 137.467 |
| Norwegian krone | NOK | 145.982 | 145.909 |
| Danish krone | DKK | 178.066 | 177.977 |
| Japanese yen | JPY | 11.752 | 11.746 |
| Special Drawing Rights |
SDR | 1653.736 | 1652.909 |