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Iraqi Dinar/Dollar auction 11-07-16 (most recent listing)
Currency Auctions Announcement No. 3313
This daily currency auction was held in the Central Bank of Iraq on the 11-07-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 35 |
| Number of remittance companies | 14 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 144,704,930 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 144,704,930 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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Office: Maliki retired and receives a salary or bonus or allowance or an increase in protection
(Voice of Iraq) – Baghdad The Information Office of the President issued a coalition of state law , Nuri al – Maliki, a clarification on the expenses of the Vice President of the Republic who have returned to their duties by judicial decision of the Federal Court offices.
Where the statement noted that “as far as Mr. al – Maliki is retired and receives a salary or bonus from the presidency, did not allocate him not previously when he was in office , and yet no allocations for the purchase of cars or furniture or monitor the amount of maintenance or opening new offices, nor expenses and travel allowances and an increase in protection. ”
The statement said, “The return and acceptance of the functions of office and welcomed the decision was aimed at working with the President to activate the functions of the Presidency and files entrusted to it under the Constitution, as well as his desire to work to support the legislative process and monitor the implementation of the Constitution in general and the laws he hopes cooperation between the President and the House of Representatives that perform a service for the stability of the political process and support, strengthen and correct and address the violations . if they have to achieve the service of the homeland and the citizen. ”
Central bank governor for “tomorrow Press”: aspire to get foreign bonds on international guarantees
The governor of the Iraqi Central Bank on the Keywords, on Sunday, that the bank is trying to get international guarantees for foreign bonds by selling them for marketed largely due beneficial to Iraq.
Keywords and said for “tomorrow’s Press,” that “Iraq is thought to issue foreign bonds, but the reading of the market has given indications that putting such a bond would be a very high interest rate, so it has been studying this issue more than once and whenever Iraq found that these benefits are still high level of delay Thread linger and do. ”
Keywords that “there’s ambitions by the central bank added that there would be the possibility of obtaining the bond guarantees from the United States or the World Bank,” noting that “if those bonds got guarantees if certain proportions it will certainly make it easier to market and sell process at a price lower interest. ”
He Keywords that “foreign bonds for a possible safeguards promote such a bond, but if interest rates remained very high indicators surely would be too costly on Iraq and looking for alternative sources for that.”
Economic Adviser to the Prime Minister Haider al-Abadi said in (30 September 2016) that it is unlikely that Iraq postpones bond sale two billion dollars in global markets until early 2017, at least the hope that the result of high oil revenues and the victory over the organization Daesh to the public finances of the state improved.
The government hired each of the banks, “JP Morgan” and “Citibank” “and” Deutsche Bank “, to arrange its debut bond issue in nine years in order to cover the budget caused by lower oil prices and the war against Daesh deficit.
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Enorrste (Dinar Guru) – Article: “Learn the benefits of removing zeros from the Iraqi currency” I think it is time to start getting excited, again. The first thing that I noticed in this article is the follow quite specific statement: “The purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency“, returned him as “this strategic project will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges.” There are four things to note here: (1) the large notes wil begin tol be deleted “beginning in 2017”; (2) the purpose is to make the dinar stronger (note the word “support” and the phrase “competitor of foreign currency”; and (3) this will “serve the Iraqi economy”; and (4) the dinar will take its place in the basket of currencies in the “vital world exchanges.” Let’s look at these one at a time. [First] The large notes will be deleted. This cannot be a LOP because a LOP would not change the value of the dinar, and the other three points above make it clear that the dinar will rise in value. Therefore, there is only one way that the large notes can be removed from the market place without destroying the fragile liquidity that exists in Iraq already: the value must rise enough to make it feasible to remove the large notes. [post 1 of 3….stay tuned]
Read More: http://www.dinarupdates.com/observer/
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Enorrste (Dinar Guru) – Kaperoni has rightly stated...that a minimum of $.10 for the value of the dinar would make it possible to begin removing the three zero notes. This means that we must look for a minimum of a 100 times increase in the value of the dinar sometime during the coming year. Second, the purpose is specifically stated to “support” the dinar and to make it a “competitor in world markets.” At this point the dinar is not internationally recognized or tradable. Both of these factors must be eliminated for point number 2 to come to fruition. The only way in which they can “support” the dinar (in terms of value) and make it “competitive” in the world markets is to allow it to float and to rise to the point where the “support” and “competitive” value become real factors. I therefore expect to see the float start shortly after the new year. Third, this move will “serve the Iraqi economy.” Clearly a move to a float and an internationally recognized currency will cause imports prices to fall quickly and allow for imports into Iraq more easily. This would, then, be consistent with point number 3 that the plan will “serve the Iraqi economy.” [post 2 of 3….stay tuned]
Read More: http://www.dinarupdates.com/observer/
Stock market instruct Government bond trading
Uncovered Iraq market for securities, on Sunday, the Government bond trading instructions by the Central Bank, while stressing that it opens the door to a new type of investment and trading securities along with equities.
Executive Director of the Iraq market for securities, Taha Ahmed Abdul Salam, in the interview, said “the market directed to deposit Government bonds and listed and traded, after lengthy discussions between the Board of Governors and securities”, noting that “the amendments came in three chapters.
Abdul Salam, promised to help open the door to investing and trading in the new type of securities along with shares of companies contribute, hoping that “Government bonds are inserted by the Iraqi Central Bank and traded in the next few days.”
Read More: http://www.dinarupdates.com/showthread.php?43427-Stock-market-instruct-Government-bond-trading
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Enorrste (Dinar Guru) – Finally, the statement is made that the dinar will takes its place in a “basket of currencies” that contribute to the “vital world exchanges.” At present the only currencies that hold this sort of recognition are the dollar, Canadian and Australian dollar, pound, euro, and a few others. By making this bold statement, therefore, the author is re-iterating what we found from Saleh years ago namely that the dinar is going to become a world reserve currency. The only way in which the dinar can take this position is if it is internationally recognized, if Iraq is a part of Article VIII of the IMF Charter, if the value of the dinar is commensurate with that of the world’s reserve currencys (worth about a dollar American, more or less), and is supported by reserves that PROVE that it is a strong currency. The current reserves of $40 billion are sufficient to make the currency the strongest in the world at $1 per dinar. Unlike the US, they won’t need “the full faith and credit of Iraq” to support their currency. However, in addition to the highest relative reserves, Iraq also has the second highest known reserves of underground wealth in the world. Therefore it is well positioned to take its place as a world reserve currency as long as they stick to the plan. The bottom line for me is that this article, even if it is repeating a plan elaborated over a year ago, is more specific and continues the timeline from that earlier article. 2017 would appear to be the year when this will all truly begin to move forward. Keep your fingers crossed! [post 3 of 3]
Read More: http://www.dinarupdates.com/observer/
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Central Bank: the deletion of zeros in early 2017
Benefits:
1.adraj Iraqi dinar within the global currency basket and handle it officially the world ‘s stock exchanges and financial markets.
2.amkanah held economic agreements to handle the national currency as Iraq could hold Order dollar instead dinar when the contract to build two production lines deals agreements or transactions Stirad goods this will cover a very large part of the foreign remittances that are squandering of national wealth from foreign exchange.
3.illt trading allows dealing in Iraqi dinar in the Iraqi market and not rely on foreign and squandered currencies and Bosrtha transfer abroad by the private and public sector, which is the sovereign wealth dissipated abroad a small, non – essential positions and luxury in Iraq at the time need this wealth of storage as a reserve.
4.seetm rid of manipulating market currency exchange and finish the so – called auction sell the currency , “” burning oven dollar “”
5.satoagaf work corrupt suspicious of banks and their agents and Smaserthm “” contractor and investor cartoons ”
6.seetm capping the highest amounts transferred abroad of currency the dollar and the euro and the yen sterling and the yuan exchange – active and other pound to ensure that no smuggling the vast majority of trades of currency smuggling.
The Iraqi Central Bank Governor said the project to delete the zeros will be implemented in the beginning of 2017, indicating that the bank began to develop the first steps of the project.
He said: ” the purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency”, returned him as “this strategic project will serve the country ‘s economy if will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world stock markets. ”
He added that” the Bank is working on mechanisms for the implementation of this project is expected to start at the beginning of 2017 , “noting that” the central bank began the first steps of the project through the selection of the designs , companies and the country that will be the currency printing. ”
He pointed out that” the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years , “pointing out that” this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity In the market ”
Alrasheedmedia.com
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Iraq takes steps to cemented investment projects
BAGHDAD – The joy of pumice with the government ‘s orientation to the advancement of the sector investment, requiring the need to cemented these steps through self – reliance to face the challenges that may arise, as demonstrated by the transfer of the Arab Union of International Arbitration headquarters to Baghdad.
In this regard showed deputy secretary general of the Union of Chancellor Najat Hussein’s « Sabah », said that” the transfer of the headquarters of the Union to Baghdad came to activate the work and put the near future plan, as it begins cycles specialist for the cadres of the ministries, regarding the legal, banking and financial aspects, for the preparation of skills and information on international arbitration, and the dissemination of legal culture in the field of investment , which the Iraqi government is working on promote it. ”
Dedicated team
Indicated Hussein to the ” pursuit of the Union for the preparation of a specialized legal team for the defense of Iraq ‘s financial, economic and investment rights, regarding against him suits, or that are held by the government against those who deviate from the contracts and contracting investment and reconstruction projects for investors and contractors non – Iraqis, dispensing for international law firms , which weigh heavily on the overall budget and cost effort big time has not come positive outcome for the benefit of Iraq. ”
The Minister of Justice Haider Zamili has stressed that” the transfer of the Arab Union of international Arbitration headquarters to Baghdad is a step forward in the field of spreading international arbitration and the adoption of enterprise culture legal in resolving conflicts. In addition to providing consultancy, providing huge sums currently spent by Iraq , international law firms, to plead in the proceedings to which Iraq is a discount it. ”
Debts and loans
Drew Hussein , ” there was a need in the debt on Iraq, loans and problems file with big investors, as the Union will adopt a follow – up of available expertise among its members, until the training, legal and IT plans is completed, the engaging sessions that will take place soon, in addition to follow – up investors in the field of oil in Iraq ‘s issues within the contracting and contracts between Iraq and the local and Arab companies
and foreign. ”
Legal action
Deputy secretary general of the Federation also suggests that” the objective of the Union is trying to achieve the establishment of a specialized court for international arbitration in Iraq to be the first in the Middle East and the Arab region, to save a lot of time and effort, and be an anchor to resolve conflicts and problems, and underpins the financial, economic and investment rights and business “.
As shown that the Arab Union of international Arbitration emerged from the Council of economic unity League of Arab. and officially registered with the United Nations Organization, and efforts are ongoing to expand the Union system and lay a solid foundation for legal action and international experiences, along with the consolidation of the foundations of the Union of Arab Arbitration up to the ranks of institutions the
world.
pointing out that Iraq will be a center of attraction for the training institutions and legal Arabic, through the presence of Union headquarters in Baghdad.
attributes of arbitration of the Arab Union of international Arbitration was established in January 29, 2012, to be the international Arab organization working in the economic union scale at the University of states Arabic.
and enjoys international arbitration great interest Mahtkamin party and increased international trade rate and breadth of the market, the alternative to the judiciary because of its features of interest to investors who are looking for a suitable climate to invest their money, through the search for justice and the speed in the resolution of conflicts, as well as protecting their investment in the light of a flexible and fast law.
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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 | 1311.193 | 1310.537 |
| British pound | GBP | 1477.264 | 1476.525 |
| Canadian dollar | CAD | 881.300 | 880.860 |
| Swiss franc | CHF | 1215.924 | 1215.316 |
| Swedish krona | SEK | 132.032 | 131.966 |
| Norwegian krone | NOK | 143.932 | 143.860 |
| Danish krone | DKK | 176.208 | 176.119 |
| Japanese yen | JPY | 11.469 | 11.463 |
| Special Drawing Rights |
SDR | 1637.366 | 1636.547 |