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Iraqi Dinar/Dollar auction 11-08-16 (most recent listing)
Currency Auctions Announcement No. 3314
This daily currency auction was held in the Central Bank of Iraq on the 11-08-2016
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$) | 147,578,051 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 147,578,051 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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“We in America do not have government by the majority. We have government by the majority who participate.” – Thomas Jefferson
*** Current News ***
BGG (Dinar Guru) – Article: “Central bank governor for “tomorrow Press”: aspire to get foreign Sndhatna international guarantees” Quote: “…The governor of the Iraqi Central Bank on the Keywords, on Sunday, that the bank is trying to get international guarantees for foreign bonds…” One would have to assume this is a foregone conclusion…all of this IMF support is about “international acceptance”.
Read More: http://www.dinarupdates.com/observer/
Enorrste (Dinar Guru) – Article: “Learn the benefits of removing zeros from the Iraqi currency ” I tend to agree that entry into Article VIII is a necessary prerequisite. I doubt any serious investors in dinars would play in the dinar market without some form of level playing field that is offered through Article VIII. The market spread situation can be corrected by floating the currency. An announcement that the currency would be allowed to float would automatically make the official rate and the street rate identical. Furthermore, the plan is clearly stated to reduce the money supply from 50 trillion dinars to 40 billion dinars. They just haven’t started the process yet. It is my take that the article …is saying that this process will begin in early 2017.
Read More: http://www.dinarupdates.com/observer/
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Enorrste (Dinar Guru) – The CBI will begin destroying the large notes, thus reducing the money supply, and this will put upward pressure on the value of the currency, irrespective of Article VIII. If they also accept the Article VIII conditions, which I believe is the stated goal of the IMF, then the process could move along much faster. Trade would improve in Iraq, thus allowing more money to come into the country, relieving the liquidity crisis somewhat, and this would allow the CBI to begin reducing the money supply. They are clearly on record that they want the money supply to be brought down to 40 billion dinars. They just have to have a mechanism to make this happen without too much of a jolt internally. And, of course, they have to START. I believe the article is saying that they have made a determination that the start will happen in early 2017. [post 2 of 2]
Read More: http://www.dinarupdates.com/observer/
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 will begin to 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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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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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 | 1307.528 | 1306.875 |
| British pound | GBP | 1467.689 | 1466.956 |
| Canadian dollar | CAD | 883.210 | 882.768 |
| Swiss franc | CHF | 1210.569 | 1209.964 |
| Swedish krona | SEK | 131.263 | 131.198 |
| Norwegian krone | NOK | 143.630 | 143.558 |
| Danish krone | DKK | 175.723 | 175.635 |
| Japanese yen | JPY | 11.318 | 11.312 |
| Special Drawing Rights |
SDR | 1632.401 | 1631.585 |