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Iraqi Dinar/Dollar auction 11-01-16 (most recent listing)
Currency Auctions Announcement No. 3309
This daily currency auction was held in the Central Bank of Iraq on the 11-01-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 33 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 148,851,319 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 148,851,319 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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On the Keywords: we underestimated the effects of the financial crisis in Iraq in several ways
Roudao – Dohuk – systems at the American University in Dahuk province, an economic conference, discuss the financial problems in Iraq, with the participation of senior financial and economic officials. The governor of the Iraqi Central Bank, on the Keywords, during the conference , “We underestimated the impact of the financial crisis in Iraq in many ways , ” adding “we were able to provide four trillion dinars thanks to invest in banks, has had a significant impact in improving the economic situation in Iraq.” he stressed that “it is because of the deterioration of oil prices and the decline in revenue forced us to take several measures in order to maintain the Iraqi economy,” noting that ” in order to temper from the financial crisis, we have allowed banks to invest half the amount of liquidity and reserve them, and that was the cause of the utilization by 4 trillion dinars from these banks. if not , there is the money, the situation in Iraq was going to be worse than now. he was also an effect on the unemployment problem and reduce the percentage; We must revitalize the Iraqi economy again. ” as it was getting foreign loans from the international Monetary Fund and World Bank one way the Iraqi government to reduce the financial crisis, said Undersecretary of the Ministry of Finance, Fadhil Nabi, in this regard:” financial centers were not ranked Iraq, when we started talks for the loan, we thought that this category will not help Iraq to reduce the interest rate to a rate of 10.5% and due to this high percentage, we thought of working directly with the centers that deal with the international Monetary Fund , which was imposed on us too many conditions, and were told the IMF that we can not gave you money unless there are guarantees to restore credit, including conduct economic reforms. ” experts confirm the continuation of the granting of Iraq loans by international financial centers linked to the reforms carried out by Iraq, which did not receive Baghdad only a fraction of the $ 16 billion requested.
Rudaw.net
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rcookie (Dinar Guru) – Article: “Economist: 2017 budget to meet its obligations with the private sector” …THEY ARE DISCUSSING THE NECESSARY BUDGET REVENUE & EXPENDITURE REFORMS BEING APPLIED TO SUPPORT PRIVATE SECTOR ADVANCEMENT IN IRAQI ECONOMY…AND ROLE INT’L LOANS PLAY IN BRIDGING DEFICIT SHORTFALLS...THEY ARE TALKING ABOUT THE SUCCESS OF THE 2017 BUDGET IN ADDRESSING BOTH SIDES OF THE BUDGET… OPERATIONAL…AND DEVELOPMENTAL.
Read More: http://www.dinarupdates.com/observer/
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rcookie (Dinar Guru) – Article: “Muhammadawi: We seek to link Iraq to the economic capital of the world…” Quote: “We are trying to link Iraq’s economic capital of the world through a stable and attractive… investment environment, creating …We put forward the vision of Basra to attract investment on a large scale, and to create a…stable and attractive investment and linking Iraq’s economic capital of the world through the stimulus on economic and trade cooperation on international and regional”.environment…” HUGE…HUGE STATEMENT… INDICATING THAT THERE ARE EFFORTS TO TIE IRAQ TO THE ECONOMIC CAPITAL OF THE WORLD!
Read More: http://www.dinarupdates.com/observer/
Expectations approve the budget before the end of the year
BAGHDAD / Sabah – predicted the financial advisor to the prime minister appearance of Mohammed Saleh approve the budget year 2017 before the end of this year.
Saleh said in a statement »Sabah»: The «2017 budget will amount to more than 100 trillion dinars », adding that« the budget will be approved before the end of the year , after parliament completed its first reading. » Saleh added that « the new budget, not much different in the paragraphs from the current year ‘s budget, with a few differences, but the new thing which is that it represents a transition from a war economy to a peace».
And Saleh , said that « the budget next year will enter another stage is stage construction and reconstruction and convert a lot of military expenditures to the construction costs and progress, and so it ends to serve a new stage in the life of Iraq ».
the Prime Minister Haider al – Abadi said at a news conference on Tuesday, received the board of the Federal budget for 2017 , the House of Representatives, as pointed out that The government reconsidered some of the paragraphs of the budget that has been reduced spending and reduce the deficit significantly by 50 percent.
as Salih stressed that «Iraq also discussed with the international Monetary Fund for the budget year 2017 and installed in terms of expenditure and income and places of spending Exchange», indicating that « the discussions included some addressed simple adjustments upon the agreement, especially with regard to reducing the deficit to 50 percent ».
he pointed out that« the first draft in which the deficit was 34 trillion dinars, while the deficit after the amendment amounted to half of this amount ».
alsabaah.iq
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rcookie (Dinar Guru) – Article: “On the Keywords: we underestimated the effects of the financial crisis in Iraq in several ways” Quote: “Systems at the American University in Dahuk province, an economic conference, discuss the financial problems in Iraq, with the participation of senior financial and economic official” THIS IS THE DOHUK CONFERENCE… THEY AGAIN OUTLINE THAT CONTINUED ACCESS TO THE INT’L LOANS ARE DIRECTLY LINKED TO REFORMS CARRIED OUT BY IRAQ TO RECEIVE THE REMAINING $16 BILLION...WHICH THE 1ST REVIEWS TOWARD THE 1ST LEG OF LOANS ($5,3 BILLION) WILL OCCUR AFTER PUBLISHING OF THE 2017 BUDGET LAW…WHERE CONFIRMATION OF THOSE REVENUE AND EXPENDITURE REFORMS WILL RESIDE FOR 2017…THEN IRAQ CAN SAY “SHOW ME THE MONEY”…AND RECEIVE THE REMAINING INSTALLMENTS OF 2016 MONEY…AND NOWHERE… NOWHERE DO THE SBA LOANS ACCESS HAVE ANY TIE INTO A CURRENCY VALUE CHANGE…
Read More: http://www.dinarupdates.com/observer/
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OPEC: Iraq, Saudi Arabia and Kuwait have 30% of the oil reserves in the world
OAPEC – Iraq Saudi Arabia and Kuwait have 30 percent of the oil reserves in the worldBAGHDAD / Baghdadi News / .. diagonals of Arab Petroleum Exporting Organization, confirmed (OAPEC), said Sunday that oil reserves in Saudi Arabia and the Republic of Iraq and Kuwait at about 511 billion barrels indicating that it represents about 30 percent of total world oil reserves.
The (OAPEC) in a report I followed / Baghdadi News /, that “the world’s total proven oil reserves estimated at 697.1 trillion barrels at the end of 2015,” indicating that “the proven oil reserves in the members of the Organization Countries (OAPEC) estimated during the same period estimated at 6.701 billion barrels account for about 3.41 percent of the total global oil reserves. ”
It pointed out that “since mid-2014 has been postponed to pump about 222 billion US dollars of capital investment and development operations for about 2.4 million barrels of oil equivalent per day of maximum production capacity,” pointing out that “this could lead in the long term to a reduction in the supplies and a rise in prices. ”
The organization stressed that “the average oil production in the Member States of the Organization of OAPEC amounted to about 27 million barrels per day in 2015, the problem of 5.29 percent of the world’s total oil production,” pointing out that “the International Energy Agency predicts that global oil production up to 4.100 million barrels per day by 2040 and that oil production up to the seven Arab countries (Algeria, Iraq, Kuwait, Qatar, Libya, Saudi Arabia and United Arab Emirates) to 3.35 million bpd, accounting for about 2.35 percent of the total global output in 2040 “.anthy 21 / t
albaghdadianews.com
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Bastions of corruption: Auction currency in Iraq
Bastions of corruption – Auction currency in Iraq modelOnly in Iraq !! No voice is louder than corruption, and there is no word more popular among Iraqis elsewhere , It has become the focus of everyone’s attention, especially with the spread of international and local documents, to wake up the Iraqis who are tired of killing, displacement and poverty, the largest systematic corruption in history, and of course simple and no one else pays the bill at the end of the citizen.
We’re going to talk, which we began in a previous article about the currency by the Central Bank of Iraq auction, The importance of this auction stems from being an auction for the exchange of foreign currency in Iraq to cover large expenses to support Iraq’s foreign trade and the other hand to help him on a partial withdrawal of local currency markets to help maintain on specific levels of inflation.
Days before the Iraqi Central Bank announced its decision to deny three private banks and 99 banking company from entering sell the currency window, for violating the laws and regulations on the purchase and sale of foreign currency. It is of course information we’ve published a number of articles and reports on corruption within the corridors of the currency auction, and views of influential figures do not care about the law or regulations.
Many of the documents revealed the largest corruption ports that leaked $ 312 billion through auctions of the Central Bank to sell the currency through fake invoices .. It seems that these documents there will be daily turn of events experienced by Iraq, and because of the evidence of the involvement of figures in the processes of corruption, and recently revealed the Minister of Finance Hoshiyar Zebari, during an earlier television interview for converting an amount of six billion, four hundred and fifty million dollars to account Hamad Yasser Mohsen al-Moussawi, the owner of Bank of Huda, has sources indicated that the amount transferred more than nine billion and has been converted from Hamad al-Moussawi.
The central bank publish a copy of the letter to the sender of the Integrity Committee Algnapeh, and he declared for the lack of any transfer of $ 6 billion and $ 455 million outside Iraq to account Moussawi.
That makes it easier for these people who play with money Iraqis work, parking personalities in charge behind them, thus the field was available to them and their operations, suspicious, and here we mention reports that former Prime Minister Nuri al-Maliki to stop behind characters like; Hamad al-Moussawi, which had a long history at the central bank operations and money laundering, and sources indicated Maliki defend the innocence of al-Musawi, who is one of the closest merchants Menh, who is also one of the arms of Almaliki, to close all the files of corruption that could topple the big heads.
In the same context, he revealed the parliamentary finance committee member Majda al-Tamimi that banks managers benefit from currency auction of the Central Bank of the value range between 300 to 400 million dollars a month.
She pointed out that «the state reserves of foreign currency has greatly decreased as a result of leakage of funds to the pockets of their recipe Balvasudain» In addition to the presence of 20 defendants in these cases, some degree Bank Chairman.
As himself links Centre for Research and Strategic Studies in a previous article detects a meeting of a number of banks and banking employers in Baghdad about the dollar and the need to reduce its price on the black market, and Hdoa issued a decision to limit the auction a limited number of banks.
As is well known, “it is the security of the penalty offended literature” lost whales auction threatened to issue a decision to limit the auction a limited number of banks, some of whom said they were able to in all aspects of the state control, and the price of the dollar and they reject the dollar sell the asset in their accounts abroad.
Delve into the subject of the currency auction complex and precise, as a result of providing the necessary cover by a sensitive positions in Iraq figures, and it shows through the money that has smuggled in the currency auction, which was estimated at 57% of oil imports since 2006 size, while talking reports smuggling of nearly 200 billion dollars from Iraq to other countries between 2005 and 2014.okzlk talked earlier reports that the central bank in 2009 sold 92%, which entered the country from oil imports. ”
The Iraqi central bank sold more than $ 44 billion in foreign currency auction in 2015, according to statistics published by the bank that the quantity sold to banks amounted to 44 billion and 303 000 799 thousand and $ 966.
We pointed out that Iraq’s debt is today about 77% of GDP, while natural not exceed 60% of GDP, which is an abnormal situation and worrying. Lovers of this case Iraqi debt growth has become a large and Pat Iraq being to countries and donor financial institutions like the World Bank and the IMF industrialized nations seven, currently discussing with Britain to borrow $ 13 billion. However, the current policy has not changed Vomwal people steal by selling the currency in force until the Today.
The economists indicates that the Iraqi borrowing exceeded $ 100 billion, a very large number in a dark tunnel and enter the country because if the interest rate of 2% per year, Iraq will pay $ 2 billion.
Suspicious transactions that took place over the currency auction wasted huge amounts of the capabilities of the Iraqi people, as I have talked reports of wasting billions of dollars by Iraqi officials between 2008 and 2014, during the reign of al-Maliki, who has seen his tenure as prime minister, the biggest corruption in Iraq’s history, however, there was no punishment or account.
While the Parliamentary Commission of Economy announced that the bank presented an appeal to the Federal Court to clear the auction at 75 million dollars a day in the budget, which led to cover the merchant need of hard currency on the black market.
The dollar exchange rate in the Iraqi market attests to a continuous rise despite central bank measures to maintain stability; During the past two months, Iraqi market has seen a gradual rise in the dollar’s exchange rate against the dinar, is currently up to 1300 dinars to the dollar.
The banking sector in Iraq need to re-review and revealing, it has witnessed the sector suspicious operations of hundreds of billions of dollars, in addition to that he has become a hotbed for some politicians and corrupt and needed today to find strict legislation deters tempted to prejudice Bakot the Iraqi people and the wealth of the country, and put in place mechanisms to check the invoices Health and make sure the customer’s account and the fact that the required amounts Do covering imports by the private sector or for other reasons.
Iraqi citizen has been suffering from this corruption, which came on everything and everybody, and even with the government’s attempt to facing this great genie is still a torrent of corruption tremendously not stand in his way thing, thus exploded the street and out of thousands of Iraqis took to the streets, demanding the “cleansing” of state institutions of corruption , but it’s the size of a large corruption and his family, however, continued reports revealing the extent of the disaster that befell Mesopotamia looted its resources and capabilities lost and divided among a bunch of thieves.
The builder of the renaissance of Singapore Lee Kuan Yew had to say ” when thieves walking in the streets are safe , there are two reasons:” Either the system a great thief or stupid people , the largest , ” is still corrupt practice operations scheduled theft over the office and their relationships , and the sight government. .. While the spread phenomenon of begging in the heart of the capital Baghdad because of the deteriorating economic situation in Iraq, while Pat auction currency at the Central Bank of Iraq a big feast and money laundering and the smuggling of the dollar abroad, and here is the responsibility of both the government and the people is very large and fast action to save what can be saved before it is applied to Iraq adage “widened the breach Alratq ” (strikes at the corruption and could not fix).
altahreernews.com
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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 | 1293.817 | 1293.170 |
| British pound | GBP | 1438.612 | 1437.893 |
| Canadian dollar | CAD | 881.892 | 881.451 |
| Swiss franc | CHF | 1195.147 | 1194.549 |
| Swedish krona | SEK | 131.368 | 131.303 |
| Norwegian krone | NOK | 143.209 | 143.137 |
| Danish krone | DKK | 173.916 | 173.829 |
| Japanese yen | JPY | 11.279 | 11.273 |
| Special Drawing Rights |
SDR | 1623.891 | 1623.079 |