IQD exchange rate black market BY NADER FROM MID EAST

Iraqi Dinar Currency New Rate / Iraqi Dinar Latest Exchange Rate Today /...

"RV UPDATE" BY MNT GOAT, 11 SEPT

 Mnt Goat 

 Article:  "IRAQ IS ADVANCING GLOBALLY AND SETTLING IN THE ARAB WORLD WITH THE LARGEST ECONOMY IN THE WORLD IN 2023"  Quote:  "

...Iraq ranked 49th in the world’s largest economies for the year 2023, after it was ranked 52nd last year, within a list of 190 countries, according to a report by the International Monetary Fund."

 ...they now have a VERY high level of Security and Stability, something that we have heard over the last 20 years they needed. Well…now its here…

...I have to tell you the currency rate of 1/6 of a penny (IQD 1320 = USD 1) absolutely does not reflect the currency rate of the dinar. It is being “artificially suppressed”!   But most importantly...

many other financial wizards, much more knowledgeable than I, also feel this way. To make a very good comparison one only needs to compare Iraq to Kuwait to see the imbalance and inequity happening  (KWD 1 = USD 3.45).

Pessimistic expectations.. What is the secret behind the 2023 budget not being released yet?, 11 SEPT

 Pessimistic expectations.. What is the secret behind the 2023 budget not being released yet?

9-10-2023

Pessimistic expectations.. What is the secret behind the 2023 budget not being released yetToday, Sunday, the economic expert, Dr. Abdul Rahman Al-Mashhadani, revealed the main reasons behind not launching the 2023 budget yet, anticipating a global economic crisis next year, and despite the rise in oil prices, the year 2024 will be difficult.

Al-Mashhadani said in a statement exclusively to Jarida , “Not releasing the budget is not for fear of it being exploited electorally, because the political blocs do not need a budget, as they have food security law money, and they also have supporters from merchants and businessmen, so the basic political blocs have power.” And money and support from local, international and commercial parties.”

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He added, “The government’s vision announced by the Prime Minister is that the disbursement is based on the revenues generated, but the revenues generated cover operational expenses only, and in official statements it was stated that the Kurdistan region’s share is greater than its entitlement, because the disbursement is based on the revenues generated, and not on Basis of budget allocations.

He continued: “Also, the Prime Minister wants to spend the year 2023 with the minimum disbursement as long as the budget is delayed. Therefore, the life of the government will be short, which is two years. He does not want to borrow from the Central Bank and waste the surplus resources, which are 23 trillion from last year, but rather He wants to put it as savings or as an initial entry for 2024.”

He explained, “Because the year 2024 will not be as easy as expected, even though oil prices have begun to rise to record levels, but all expectations still point to a global economic crisis in 2024, so this hedging and austerity that they are following by delaying the approval of the budget may be the main reason for saving.” Funds and resources available until next year.

jaredaiq.net

Iran Continues To “Dry Up” Iraqi Dollars.. The Dollar Is On The Way To Flying Towards 160 Thousand (Details), 11 SEPT

 Iran Continues To “Dry Up” Iraqi Dollars.. The Dollar Is On The Way To Flying Towards 160 Thousand (Details)

Baghdad today - Baghdad   Today, Sunday (September 10, 2023), the expert in economic affairs, Nabil Al-Marsoumi, detailed the reasons for the continued rise in the exchange rate of the dollar against the Iraqi dinar, despite the many decisions taken by the Central Bank.

Al-Marsoumi said in an interview with “Baghdad Today” that “the reason for the large gap between the dollar in the official market and the parallel market is due to the large trade with Iran, as the latter exports goods to Iraq worth 10 billion dollars annually, and this trade is covered through bank transfers that go to banks.” UAE and then to Iran.”

He added, “After implementing the electronic platform system, bank transfers were stopped, and trade with Iran is now being covered through the parallel market, so there is pressure on the dollar,” noting, “There are parties that monopolize the dollar in order to pump it back to Iran for the purpose of commercial settlement with "Tehran."

Although Al-Marsoumi does not hide that Iraq faces many economic problems in this aspect, he confirms that the demand for investment and consumer goods will increase after the release of budget allocations.

“Due to the limited national production base, the demand for the dollar will increase again and cause it to rise to high levels,” the economist says.

Al-Marsoumi was not satisfied with this, but rather warned that the price of the dollar was on its way to jumping above the barrier of 160 thousand dinars, in the coming weeks due to a number of reasons mentioned, and “the failure to take decisions that would reduce the difference.”

According to US sanctions, any deal between Iran and Iraq must be based on the dinar, and the use of the US dollar in these transactions is prohibited.

14 private Iraqi banks were prevented from purchasing US dollars from the Central Bank of Iraq as part of a campaign by the US Treasury Department to smuggle dollars to Iran through the Iraqi financial system .

Banks were prohibited from purchasing US dollars through the "foreign exchange auction window", known as dollar and conversion auctions .

It is an officially approved mechanism to cover the foreign currency needs of banks and public and private commercial institutions, and ensures the ability of these institutions to finance their financial activities and foreign trade .

The American step taken by Washington on July 19, 2023 is part of a broader effort to prevent Iran from depleting Iraq’s dollar reserves through false or fictitious import transactions carried out with “inflated” invoices or “fraudulent” money transfers.

The Central Bank of Iraq works with the US Department of the Treasury to implement anti-money laundering and counter-terrorism financing initiatives .

The Central Bank explained that within the framework of this partnership, an “electronic platform” was developed to ensure the safety and accuracy of money transfer transactions in all aspects, in accordance with international standards and practices.   LINK

Will IQD = Kuwait $3.45?💣RV Sunday to Tuesday?!🤔Iraq Dinar RV Updates | ...

“Iraq Has Moved Closer To Its Goal.” Washington Praises The Baghdad Airport Control Unit, 11 SEPT

 “Iraq Has Moved Closer To Its Goal.” Washington Praises The Baghdad Airport Control Unit

Baghdad today – Baghdad  Today, Sunday (September 10, 2023), the US Ambassador to Iraq, Alina Romanski, welcomed the opening of the air cargo control unit at Baghdad International Airport, noting that it represents an essential part of Iraq’s ability to combat illicit trade.

The ambassador posted on the social networking site "X" a picture of herself while giving a speech during the opening of the unit at Baghdad International Airport.

Romanski said, in a tweet, that “the safe movement of air cargo will encourage more trade between Iraq and the global economy, and reduce illicit trade and cross-border threats.”

She pointed out that the air shipper controller unit is funded by the Regional Export Control Program of the US Department of State.

She expressed "the respect of the United States of America for its Iraqi partners for their continued commitment to establishing border security for a more stable, secure, and sovereign Iraq."

She added, "The safety and security of our international partners is the security of the entire world." She also thanked the United Nations Office on Drugs and Crime for its hard work in establishing this unit, according to what was reported by the Iraqi News Agency.

She said, "Smugglers use legitimate goods to hide illegal shipments and the large volume of global trade and shipment movements makes it difficult for customs officials to enforce the law and discover illicit cargo, which is often hidden."

Romanski added, "By establishing this unit, Iraq is sending a strong message to the international community that it continues to work on customs procedures and monitoring goods transparently," noting that this step brings Iraq close to achieving its goal of more flights between Baghdad and major cities around the world. .

Earlier today, the head of the Border Ports Authority, Major General Omar Adnan Al-Waeli, announced the opening of a container monitoring unit at Baghdad International Airport with support from the United Nations Office on Drugs and Crime, which will contribute to monitoring containers and targeting dangerous global shipments based on an analysis of existing danger indicators. In shipping documents.   LINK