Saturday, September 16, 2023
"RV UPDATE" BY MARKZ, 16 SEPT
MarkZ
[via PDK] Question: Do we know why Iraqi delegates are coming to DC on Sun-Tues?? MarkZ answer: I believe it is for an announcement that will make us all very happy. At least we sure hope so.
[via PDK] We are painfully close…Lots of expectations for Sunday and Monday and those meetings on HCL agreements and with the US Treasury. Things are really appearing to be lining up perfectly. All eyes at this point are on the Sunday/Monday meetings in IRAQ…on HCL and they say they are addressing the exchange rate of the dinar …we will see what comes of those
[via PDK] Question: Do you think it will RV before the 20th. MarkZ Answer: My gut says around the 20th…but sources say they believe it will be sooner. Getting all positive news – nothing negative. Comment: We are fixin to be blessed. MarkZ: I agree with you. Sudani said he was going to address the exchange rate and the strength of the dinar. He is telling us…now we just need to see it happen.
[via PDK] “US Treasury discusses with CBI foreign trade in three currencies other than the dollar” This is the US Treasury representative in Iraq and sitting down with Alaq. Of course they are working with the CBI and working through some things...They also discussed all the tremendous efforts Iraq has done to modernize their banking system. They can now track money laundering, bad guys ect…I am still hearing there are Fed Reps and State Dept Reps there as well as World Trade Organization Reps as well. ...I am hearing out of Iraq…That they are finalizing that rate change...I still believe everything is in place and they just need to flip a switch.
Iraq's exchange rate gap expected to widen further, 16 SEPT
Iraq's exchange rate gap expected to widen further
Economic expert Nabil Al-Marsoumi stated, "It is expected that the gap between the official and parallel rates will increase in the coming days or weeks, especially after the release of funds in the 2023 budget and increased consumption and investment spending."
He explained that "previous conditions remain the same, meaning that as long as there are U.S. sanctions on Iran preventing official financial transfers through bank transfers to settle Iranian trade dues, the gap will remain large and widen with time."
Regarding Iranian exports to Iraq, Al-Marsoumi said, "Iranian exports to Iraq exceed $10 billion annually, and these are currently being financed from the parallel market, by collecting dollars from travelers and transferring them to Iran."
He added, "Iraqi travelers abroad spend $3.41 billion annually, and these individuals are prohibited from obtaining dollars at the official rate, so they resort to the parallel market."
Al-Marsoumi pointed out, "the current factors in Iraq indicate that the gap will increase, and no one would be surprised if the dollar exchange rate reaches 160,000 dinars in the coming weeks or months."
He concluded by saying, "Relying on measures by the Central Bank or the Iraqi government to narrow the gap is difficult to implement because the issue involves capabilities that neither the Iraqi government nor the Central Bank possess."
"The only solution to narrow the gap between the two rates is to lift U.S. sanctions on Iran, restore official transfers to Iran, or cut off foreign trade and prevent Iraqi travelers from traveling to Iran. Otherwise, the gap will continue to widen in the near and medium term. "
The exchange rate for the Iraqi dinar against the U.S. dollar touched 156,000 dinars for every 100 dollars with the closing of the central stock exchange in Baghdad on Thursday.
https://shafaq.com/en/Economy/Iraq-s-exchange-rate-gap-expected-to-widen-further
Dollar remains steady,Yuan gains strength, 16 SEPT
Dollar remains steady,Yuan gains strength
Shafaq News / The dollar held steady in Asia on Friday, easing slightly from overnight gains against peers, while the yuan strengthened in the wake of some market-beating economic data out of China.
The dollar jumped overnight after U.S. retail sales received a boost from higher gasoline prices, increasing 0.6% in August versus an estimated 0.2% rise, while market participants reacted to the European Central Bank's 25-basis point hike.
The U.S. dollar index last stood somewhat lower at 105.25, but still near Thursday's six-month peak of 105.43.
The euro remained near Thursday's multi-month low of $1.0632 against the greenback.
The yuan and Australian and New Zealand dollars received a boost after a batch of economic data from China in the Asian morning came in better-than-expected for some key indicators, providing a rare lift in sentiment.
The offshore yuan rose over 0.3% against the dollar to around 7.262 after the release.
The Australian dollar , a proxy for China growth, strengthened 0.5% to $0.6473, while the New Zealand dollar last stood 0.3% higher at $0.5931.
Elsewhere, the euro was up 0.1% at $1.0652, just off a six-month low of $1.0632 against the dollar after the ECB hiked rates another 25 basis points at its monetary policy meeting on Thursday.
(Reuters)
https://shafaq.com/en/Economy/Dollar-remains-steady-Yuan-gains-strength
"RV UPDATE" BY ANGEL1, 16 SEPT
Angel1
Monday Sudani makes announcements through the special meeting televised throughout the country. He said a whole lot. We’ll move along day by by…of what has happened since Monday, where we’re at now, where we’re gonna be and how close that finish line really is. Tuesday our friend US Secretary
She had a special visitor. Iran showed up… Agreements were accepted and inked by Mrs Rosenberg. Those agreements are executed…Iran is no longer slowing us down. Brilliant… Wednesday…4 meetings with Rosenberg.
"It's settled." Iran confirms: Rail link with Iraq is intended for the transport of tourists and visitors, 16 SEPT
"It's settled." Iran confirms: Rail link with Iraq is intended for the transport of tourists and visitors
Economy News - Baghdad
The Iranian ambassador to Baghdad, Mohammed Kazem Al Sadiq, confirmed on Friday that the railway link project between Iraq and Iran is intended for tourism and visitor transport.
Al-Sadiq said in an interview with the official Iraqi News Agency that "there is a serious will from the leaderships of Iraq and Iran to implement the railway link project, and the steps and operations of the launch of the rail link have begun."
He added, "The matter has been decided that the project will be for religious and natural tourism and the return and return of visitors and travelers between the two countries."
----
Next week, an “important decision” will be issued by the federal government, which calls for optimism
9/14/2023
The Prime Minister of the Kurdistan Regional Government of Iraq, Masrour Barzani, expressed on Thursday his optimism about reaching fruitful results after the visit of the region’s delegation to Baghdad.
Barzani said in an interview with reporters in Baghdad, "Next Sunday, the Iraqi Council of Ministers session will be held, and many of the topics that were discussed are likely to be subject to a final decision."
He added, "I am optimistic and hope the results will be good."
He continued, "We came to Baghdad to protect all the interests of the people of the Kurdistan Region in accordance with the constitution and to collect all financial dues. There was a discussion about the procedures so that we can, with the Prime Minister, provide support to the political parties to reach good results."
He pointed out, "We are waiting for the Cabinet meeting to be held next week, and I am optimistic that we will produce good results." LINK
-
Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...