Evening News with MarkZ 10/17/2023

"RV UPDATE" BY FRANK26, 17 OCT

  Frank26

  This is the CBI Article Quote:  "The expectations of the Central Bank and specialist is that the exchange rate will return to a stable state but it requires time which we hope will not be long." 

 Man I have read so many good things my mouth feels like sugar!  I feel like I have candy in my mouth, sugar cookies.  This is from the CBI.  This is them talking about the the exchange rate.  They tell you don't believe the bull KaKa from those other guys...

 Question:  "Does this [Auctions changing/no USD withdrawals in January] mean it will revalue after the 1st of the year ?"

  First of all it's not a revalue...I have said it over a billion times this is an RI, reinstatement ...So what if you have to wait until January?  What is the problem?

 Article:  "Erbil: Withdrawing the dollar via ATM machines stopped by a decision of the Central Bank"  

[Boots on the ground update] 

 SUPERGIRL'S REPORT [From last week] 

 Quote "We are committed to the Central Bank’s decision issued 3 months ago, which prevents banks from granting dollars via ATM machines, and we have observed a commitment from other banks."

Iraqi Dinar🔥Al Sudani Says It's Done Wait Is Over Now Today 2023🔥iraqi d...

The Most Important Of Which Is The Leakage Of The Dollar.. Al-Alaq Identifies Many Factors That Caused The Exchange Rate To Rise, 17 OCT

 The Most Important Of Which Is The Leakage Of The Dollar.. Al-Alaq Identifies Many Factors That Caused The Exchange Rate To Rise

Economy | 10:59 - 10/16/2023   Mawazine News – Baghdad  Central Bank Governor Ali Al-Alaq identified, today, Monday, several factors that led to a rise in the exchange rate of the dollar against the dinar in the local market, including smuggling abroad.

The media office of the Ministerial Council for the Economy stated in a statement received by Mawazine News, that “Deputy Prime Minister and Minister of Foreign Affairs Fouad Hussein chaired today, Monday, the thirty-first session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister, the Minister of Planning, the Ministers of Finance, Labor, and Social Affairs, the Secretary-General of the Council of Ministers, and the Governor The Central Bank, the Undersecretary of the Ministry of Oil, the Vice President of the National Investment Authority, the Chairman of the Securities Commission, and the Prime Minister’s advisors for economic and legal affairs.”

He added, “The Council hosted the Chairman of the Finance Committee in the Iraqi House of Representatives and a number of members of the Committee to discuss the dollar exchange rates in Iraqi markets,” pointing out that the Governor of the Central Bank provided a detailed explanation of the tasks and objectives of the Central Bank and monetary policy in Iraq. “The Governor of the Central Bank

explained According to the statement, “The exchange rate depends primarily on imports and not on local production, and that the exchange rate in Iraq has peculiarities due to its connection to the price of oil as it is the largest source of providing hard currency,” noting that “many factors affect the exchange rate, the most important of which is the leakage of the dollar to coun tries.” Neighborhood and internal dealing in local markets in a currency other than the national currency, as well as the lack of complete control over the ports and smuggling.”

He added that “the level of inflation has decreased significantly and that the goods that enter officially are witnessing price stability because imports are covered by the official price.”, stressing “the opening of a special hall for private banks.” To sell dollars to travelers at Baghdad International Airport, and we raised the interest rate for amounts deposited in banks to 7.5 percent to encourage citizens to deposit their amounts in banks and to withdraw the cash mass from the banks.”

The statement continued, "After objective and serious discussions, the Deputy Prime Minister and Minister of Foreign Affairs indicated that the Council will study in detail this important issue and will follow up on the localization of salaries for all workers in the government sector and then the mixed sector until the private sector. We will study increasing the interest rate on deposits, adding that we are looking forward to building basic tools." "Future helps the Central Bank and the Ministry of Finance to assume their role in a way that suits the nature of their work."

He pointed out that "the council decided to proceed with the establishment of a project to demolish and build Ibn Sina Specialized Hospital with a capacity of 600 beds in Nineveh Governorate to serve the people of that dear governorate." https://www.mawazin.net/Details.aspx?jimare=236466

Kurdistan Uses Dinar Only💣Reinstatement Not RV!?🤔Iraq Dinar RV Updates |...

"RV UPDATE" BY BABYSMOM & RAYREN98, 17 OCT

 Babysmom 

 ...WE WON'T KNOW WHAT THE RATES WILL BE UNTIL THE DAY WE EXCHANGE..

.MOST RECENT ANTICIPATED OPENING RATES AS PER RAY [Guru RayRen98] DONG .47... DINAR 3.81...

RayRen98 

 .. .I DO "BELIEVE" THAT IT HAS BEGUN!! RATES DID CHANGE IN IRAQ LAST WEEK...MAYBE AGAIN OVER THE WEEKEND?

 WAITING TO HEAR FROM SOME FOLKS WHO WERE EXCITED LAST NIGHT AND WERE LOOKING TO SEE SOMETHING (BEHIND THE SCENES) THROUGHOUT THE NIGHT...TIME WILL TELL

Al-Kadhimi: The decision to increase the interest rate will activate the banking system inside Iraq, 17 OCT

 Al-Kadhimi: The decision to increase the interest rate will activate the banking system inside Iraq, 17 OCT

On Tuesday, the Parliamentary Finance Committee approved the Central Bank of Iraq’s decision to increase interest rates for bank depositors, as it will help revitalize and organize the banking system.

According to Moeen Al-Kadhimi, a member of the Finance Committee, the Central Bank’s decision to increase the interest rate is part of Iraq’s banking reform measures. This is in line with Prime Minister Muhammad Shia’a Al-Sudani’s directive to organize and revitalize the country’s banking system.

“The interest rate increase will motivate citizens to deposit their money in banks. This will boost financial activity and lead to investment in various projects. Additionally, it will positively impact reducing the exchange rate of the US dollar against the Iraqi dinar,” he said.

Al-Kadhimi stated that the Central Bank of Iraq is moving towards full automation of financial transactions within Iraq.

During the 31st session of the Ministerial Council for the Economy held yesterday on Monday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, announced an increase in the interest rate for amounts deposited in banks to 7.5%. This move is aimed at encouraging citizens to deposit their money in banks rather than keeping it outside the banking system as cash.