We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor
On Sunday, the Governor of Iraqi Central Bank issued a statement that main objective of CBI is to stabilize the balance between the sale of U.S dollar and demand in the domestic markets. He also added that the sustainability shouldn’t be considered an edge of speculation and huge profits.
The Governor of CBI delivered his words in a press interview with Alsumaria News and indicated that the Bank is looking to maintain a balance between the sales of U.S dollar and to keep it stable. He pointed out that the balance of foreign currency has become strong in the past couple of years and there isn’t any kind of space for speculation and huge profits. He added that Iraq has been experiencing some exceptional circumstances and a significant amount of decline in the global oil prices was considered one of the major reasons behind the economic and financial crisis in the country.
He added that there were two choices in front of the policy of Iraqi Central Bank, whether to respond the U.S dollar to prevent the speculations. But, it would be more costly in the reduction of foreign currency reserves at the CBI due to the foreign currency sale process or accept a margin of increase in the U.S dollar exchange rate against the Iraqi dinar currency. He said that the Iraqi Central Bank was looking to maintain a balance between two objectives. He said that CBI was established as an independent bank under the law implemented on 6th March 2004.
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Central announces gold bullion prices
Baghdad / morning Deployment of the Central Bank of Iraq, on Monday, a table gold bullion prices for the current week, except in the table of gold coins. And the table that the price of the alloy carat 5 g reached 246 thousand dinars , up three thousand dinars, while the price of bullion reached 10 g 483 thousand dinars caliber and a rise of five thousand dinars, indicating that the alloy carat price of 15 g reached 728 thousand dinars , up nine thousand dinars .
He pointed out the table, the alloy 25 g price reached 1.231 million dinars , down 13 thousand dinars, while the price of alloy 50 g 2.466 million dinars , down 23 thousand dinars.
The central bank also announced, on Monday, to find solutions to avoid a shortage of dollar «deviation» in the price of holidays.
The bank said in a statement «morning» received a copy of which he was « in order to avoid any shortage in the presentation of the dollar in the market , in order to respond to the request without any shortage cause deviations in the exchange rate , it decided to implement the dollar requests declared for the holidays during the days that correspond to the days of the holiday in last week for a week holiday. »
The bank added that « the dollar also decided to implement applications in the holidays previously unannounced» snap »in the day following the day off to make up for the days of disruption».
And established the Central Bank of Iraq is an independent bank under the law issued on the sixth of March 2004, an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are sessions daily for buying and selling foreign currencies.
Read more: http://www.dinarupdates.com/showthread.php?52198-Central-announces-gold-bullion-prices
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Frank26 (Dinar Guru) – [Do you know when the MasterCard message was added to the Rafidain bank website?] YESTERDAY. [Did they initiate the RV process on Friday or Saturday?] NANO SECONDS AFTER MOSUL. [how will the [RV] launch be revealed?] ONLY BY THE CBI POSTING THE NEW RATE NOTHING ELSE COUNTS. [IYO, Does Iraq have the capacity and capability to withhold from posting a new trade-able rate on the CBI W/S (if they choose to), for an agreed or negotiated period of time?] YES! [When do you expect the rate to change?] IMO THIS YEAR. IMO EVERY SECOND HAS POTENTIAL NOW.
Read more: http://www.dinarupdates.com/observer/
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Islandg1211 (Dinar Guru) – Eight months ago, I posted that we would need to see in this order before the RV…the following:
1) Mosul Liberated, Announcement by Abadi, and a Celebration. Done.
2) Agreement with Kurds, including oil and territory settlement, then finally the HCL will be in position to be passed by the GOI. (Kurds, including Barzani and the oil minister from Baghdad meet today…) Getting Done.
3) CBI re-educating citizens on the deletion if the three zeroes (we are seeing the payments in country with e-dinars, CBI website upgraded to BIS), and finally
4) Iraq being compliant with Article VIII with the IMF and 5 – UN lifting sanctions and the RV.
The IMF is meeting with Iraq in DC this week. The UN came out a couple of days ago and told Iraq they need to be Article VIII compliant/RV. The lynchpin to the RV, now that Mosul has been declared liberated by Abadi, the Kurds and Baghdad finalizing the HCL agreement. Barzani wants independence, and this agreement is going to have to allow for that contingency in order to get him to sign off on it. [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer
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Delta (Dinar Guru) – …the CBI has to move forward. The media … just like we predicted … as soon as they get Mosul … speed of light. Right away the media has been jumping the gun on talking about the economy, etc. ..the CBI…we’ve known since January they been wanting to pull the trigger. The next 24-48 hours is going to be very interesting.
Read more: http://www.dinarupdates.com/observer
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Central Bank of Iraq sales of foreign currency falling 21 million dollars
The Central Bank of Iraq’s foreign exchange sales fell during the auction Tuesday to 114.09 million dollars, compared to 135.45 million dollars Monday’s auction, a decrease of 21.36 million dollars, according to a statement by the Central Bank.
The Central Bank said in a statement received by “Economy News”, that the exchange rate amounted to 1182 dinars per dollar in the auction held with the participation of 39 banks, and 10 companies for financial transfer.
The bank said in its statement that the sales are the outcome of the auction scheduled for Wednesday, July 19, 2017.
The bank said in a statement that the volume of funds sold to boost bank balances abroad exceeded $ 112.2 million, while the amount of cash sold amounted to $ 1.89 million.
The Central Bank said in a statement that the sale of the amounts transferred to the accounts of banks abroad is at the price of 1190 dinars per dollar, while the cash sale will be at the same price.
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The Ministry of Oil presents the FAO Refinery for Export Investment for the second time
The Ministry of Oil announced its offer to the FAO refinery for the second time, the province of Basra with a capacity of 300,000 barrels per day expandable with the addition of petrochemical complex.
A statement by the ministry said that the implementation of the “refinery is in BOT and BOO according to the investment law in refineries No. 64 of 20077 and its amendments.
The products of the refinery are environmentally friendly according to the international standards EURO 5. Under the Investment Law No. 13 of 2006, the investor is covered by tax exemptions.
“According to the second amendment to the Investment Law No. 64 of 2007, the discount rate on the price of crude oil is on the ship is 8% but not less than (5) dollars and not more than (10) dollars from the world price.”
According to the statement that “the information bag for the refinery was prepared by the Department of Studies and Planning and follow-up and the price of the bag (30) thousand dollars (non-refundable) and the paragraphs contained in the bag to be the sources and specifications of crude oil The sources and specifications of water to be processed for the refinery and environmental determinants And a map showing the location of the refinery.
The statement added that the date for the closure of the sale of information bags for the refinery was extended to the end of official working hours on Tuesday 1/8/2017 instead of Sunday, 16/7/2017. The deadline for receipt of documents submitted by companies wishing to invest in the refinery above the end of the official working day on Sunday 1 October 2017.
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Ministry of Finance confirms the inclusion of all ministries with government advances
The Ministry of Finance denied on Tuesday the exclusion of some ministries from the advances launched by government banks, while confirming that the advances launched by banks are inclusive of all ministries without exception.
The Director of the Department of the owners and the public sector in the budget department of the ministry Kawthar Abdel-Elah in an interview with the newspaper “Economic News”, that “there is no exception to some ministries of the advances launched by government banks,” noting that “all the news of the existence of exceptions Is absolutely baseless. ”
She explained Abdel-Elah, “The advances launched by banks are inclusive of all ministries without exception,” noting that “the instructions of the Ministry of Finance is clear in this regard.”
Read more: http://www.dinarupdates.com/showthread.php?52211-Ministry-of-Finance-confirms-the-inclusion-of-all-ministries-with-government-advances
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Iraq contracts with a global company to determine the extent of damage in liberated cities
Najeeba Najeeb, a member of the Committee on Economy and Investment Parliamentary, revealed Tuesday, the contract of the Fund reconstruction of the affected areas with a global company to limit the damage suffered in the liberated areas, noting that what knows the talk of damage and destruction just expectations.
Najib said in a press interview that there is no real and clear number indicating the extent of the devastation and devastation of the liberated cities, pointing out that a global company will take care of this after the contract of reconstruction fund of the affected areas.
Najib added that the cities of Iraq that have been subjected to terrorist operations need international support, and these funds are not given without the existence of documents and accurate evidence, “indicating that” the work of the company is to limit the amount of damage and destruction in those cities.
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After Mosul’s full liberation Iraq’s Abadi visits Nineveh Ops Command
Iraqi PM Haider Abadi has visited headquarters of Nineveh Operations Command and met with military commanders.
This comes after the city of Mosul had been declared fully liberated from ISIS terrorists on Sunday.
Abadi was due to give a victory speech on Sunday. But the speech was delayed for unknown reasons.
The city fell to ISIS in June 2014 amid collusion from former PM Nuri al-Maliki.
Iraqi army, supported by US-led international coalition, has launched an offensive code-named ‘We Are Coming, Nineveh’ to oust ISIS terrorists from the city.
Iran-allied sectarian militias, known as IMIS, gave support to Iraqi forces.
But the Iran-backed militias have committed atrocities against civilians, particularly the Sunnis.
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#Mosul Is Completely Liberated
Tweet from Iraqi Day
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OkieDinar – I just spoke with Iraqi Day because he deleted this post. I asked him why – he stated that he does not like to post unless he knows 100%. I asked in his opinion was Mosul liberated. His response – Yeah Mosul is over completely liberated only 12 to 18 houses have hostage situation about 35 isis fighters left.
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Phillyman (Dinar Guru) – [Once they finally clear ISIS wonder what the next obstacle is gonna be before we see a change in the rate…] …Even though they clear IS out of Mosul they are still in many other areas of Iraq. Will it stop the changes we are looking for from moving forward? Violence has permeated the region for centuries. [Guru] Breitling says the Sunnis will always hate the Shia but that it will not impact this reform. There seem to be too many countries/businesses pouring assets into Iraq to think it won’t turn around soon but of course time lines have brought so much frustration to this investment.
Read more: http://www.dinarupdates.com/observer/
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Adam Montana (Dinar Guru) – [Could Iraq state that only currency handed in to Iraq with-in its borders be given the preferential rate to start with? Please don’t think this is somehow an in country RV question I am asking as we know that rumor is totally bunk. Just thinking they may want to control the influx of currency to begin with is what I am getting at in a nutshell I guess.] I think that what you are describing is still an in-country RV, with a twist that the in-country part is temporary. If that’s what you are asking, then yes – it is possible. I don’t think it’s likely, but it is possible.
Read more: http://www.dinarupdates.com/observer
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BGG (Dinar Guru) – …I half way didn’t expect them to do this..but folks this is real. They are going to turn over the last bit of whatever is remaining in those funds…the food for oil program to Iraq and they are recognizing them as a country. They are not talking about letting them out of Chapter VII and it’s not even under chapter VII. This is Chapter VII charter. It’s a protection program. Looks like to me they had the meeting in 3 minutes and they put their rubber stamp on it and it’s over. It’s not the end of the security file…it’s the end of that particular program. There’s one more log on the fire. [post 2 of 2]
Read more: http://www.dinarupdates.com/observer/
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“Flash Cast LIVE” – Tuesday (the 21st) w/BGG
Click here for Video Replay
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Kaperoni (Dinar Guru) – “CBI website has a new look!” This is a good sign. I know it’s easy to just assume they are remodeling there website..but I think its much more. With all the speculation that the banking system must open up to perpetuate international activities to support global investment, this new website to me is much more polished, professional and institutional. We could be getting closer.
Read more: http://www.dinarupdates.com/observer/
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Chattels (Dinar Guru) – “CBI website has a new look!” “H.E Mr. Ali Muhsin Ismail / Acting Governor and Head of the Executive Board” I believe that the reference to Ismail as the “acting governor” is a change.
Read more: http://www.dinarupdates.com/observer/
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MilitiaMan (Dinar Guru) – The UNSC Doc published just under three weeks ago this Friday told us all, that there was going to be an action within June 2016 [2017 ?]. That action has a time line by and or before the end of the month. That action is a reaction to things accomplished or that action wouldn’t have even been mentioned. The UNSC escrow account is being funded or well closed out if you will. End game, symbolically. That has meaning that is profound! The Oil for Food program is to be done and gone for ever… I may be wrong, but, that imo is Chapter 7 done in regards to MR and acceptance of Article 8 is in effect or will be, once in synchronization. [post 1 of 3….stay tuned]
Read more: http://www.dinarupdates.com/observer/
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Iraqi Dinar/Dollar auction 06-21-17 (most recent listing)
Currency Auctions Announcement No. 3470
This daily currency auction was held in the Central Bank of Iraq on the 06-21-2017
| DETAILS | NOTES |
| Number of banks | 39 |
| Number of remittance companies | 10 |
| Amount sold at auction price (US$) | 159,617,756 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 159,617,756 |
| Total offers for selling (US$) | —– |
Read More: http://www.dinarupdates.com/observer/
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1325.962 | 1325.299 |
| British pound | GBP | 1515.757 | 1514.999 |
| Canadian dollar | CAD | 895.884 | 895.436 |
| Swiss franc | CHF | 1219.613 | 1219.003 |
| Swedish krona | SEK | 135.962 | 135.894 |
| Norwegian krone | NOK | 140.286 | 140.216 |
| Danish krone | DKK | 178.289 | 178.200 |
| Japanese yen | JPY | 10.663 | 10.657 |
| Special Drawing Rights |
SDR | 1636.868 | 1636.050 |