CBI & US Fed Reserve Intensive Meeting💣VND News!🤔Iraq Dinar RV Updates |...

Parliamentary Finance reveals to “Al-Ma’louma” the details of the discussions between Iraq and America regarding the dollar, 14 NOV

 Parliamentary Finance reveals to “Al-Ma’louma” the details of the discussions between Iraq and America regarding the dollar, 14 NOV

Parliamentary Finance reveals to Al-Ma’louma the details of the discussions between Iraq and America regarding the dollarInformation / Baghdad..

Today, Monday, the Parliamentary Finance Committee revealed the details of the discussions between Iraq and America regarding the price of the dollar against the dinar, while indicating that the Central Bank of Iraq has developed solutions to control the continuous rise in exchange rates.

A member of the Finance Committee, Moeen Al-Kazemi, said in an interview with Al-Maalomah, that “the Central Bank is making intensive efforts through its discussions with the US Federal Reserve to ease restrictions on Iraqi banks, as well as developing practical solutions to liberalize the Iraqi currency by opening outlets in most countries of the world for dealing.” In various foreign currencies instead of the dollar.

He added, “The restrictions imposed by the US Federal Reserve and the failure to release Iraqi funds in dollars are behind political reasons for the purpose of its dominance over countries of the world, including Iraq.”

He pointed out that “Iraq receives approximately $10 billion monthly from selling oil, but it is deposited in the US Federal Reserve, which is constantly trying to obstruct its release.”

Al-Kadhimi continued, “The Central Bank has taken new measures by opening multiple outlets in countries around the world that deal in the currencies of the Chinese yuan, the Indian rupee, the European euro, and the Emirati dirham.”

It is noteworthy that the US sanctions are raising a wave of concern among the Iraqis, especially since all government and central bank measures have not succeeded in bringing the parallel exchange rate closer to the official rate.

almaalomah.me

Pressure paper.. Deputy identifies four factors that confused the dollar market, 14 NOV

 Pressure paper.. Deputy identifies four factors that confused the dollar market

Pressure paper.. Deputy identifies four factors that confused the dollar marketInformation/private..

On Monday, Representative Muhammad Al-Baldawi identified 4 factors behind the continued turmoil in the dollar market in Iraq.

Al-Baldawi said in an interview with “Al-Ma’louma” that “the post-2003 accumulations, the security unrest, and the lack of clarity of a comprehensive vision for reviving the national economy led to the dollar becoming an influential standard in the economy, especially since all the oil sold goes to a bank account in America before it is sold.” He arrives in Baghdad.

He added, “The turmoil occurring in the parallel market and the rise in the dollar exchange rate in recent weeks are clearly behind 4 important factors, most notably the US Federal Reserve’s delay in sending dollar shipments to the central bank and its repeated threats to impose sanctions on it within the framework of an American pressure policy that wants to directly strangle the national economy.” “.

He pointed out that “the economy is a clearly defined American game that is trying, through the dollar, to raise prices and create instability in the markets,” pointing out “the importance of reconsidering the diversification of the basket of currencies and seeking to end the file of dollarization in the markets by adopting the dinar to pay internal dues to reduce… Demand on the parallel market.

The dollar selling market is witnessing a state of instability in light of the continuous rise and fall, which has created a worry in the Iraqi markets.

almaalomah.me

"RV UPDATE" BY FRANK26 & FIREFLY, 14 NOV

 Frank26  

 [Iraq boots-on-the-ground report]  

 FIREFLY:  The United States is meeting all day with Iraq on ways to help with the dollar crisis and now JP Morgan has stepped in too.  They say JP will...help five Iraqi banks and this is a firm standpoint that will help start an end to the black market issue.  We believe it would be the start of also of the float...

  FRANK: ...They are preparing you to make an announcement on your new category notes.  JP Morgan has always said this dinar investment is a scam and now they are 100% behind the dinar monetary reform huh?  Why?  Because they are about to explode the currency internationally with the CBI.

    Right now the monetary reform plan is telling you we're going to be part of the WTO.  Now, we don't have to have a rise in our currency but we have to have restriction free currency so that our currency can be internationally accepted.  Therefore our currency can now float internationally in an international basket...

Question: "Will there be a short time frame that the Iraqi citizens are informed of the rate change and able to benefit before the rest of the world finds out or do you feel we will all know when they know?" 

 We'll all know at the same time...But a dinar is a dinar inside of Iraq.  It will not be affected by the external exchange rate as it grows it stays at whatever exchange rate they release it at internally. Will citizens become rich?  No, I wouldn't say they're going to be rich but they're going to have a lot more purchasing power...

Wow wow wow # 🙏🙏🙏 Iqd Iraqi #iqd BY NADER FROM MID EAST

What Is The Role Of Private Banks In The Recovery Of The Parallel Market For The Dollar?, 14 NOV

 What Is The Role Of Private Banks In The Recovery Of The Parallel Market For The Dollar?

 Politics/Economy |Yesterday, 21:37 | Baghdad Today – Baghdad   Member of the Parliamentary Finance Committee, Representative Mudar Al-Karawi, confirmed today, Monday (November 13, 2023), that the

role of banks must be reflected in financing development projects and providing liquidity and lending to citizens and projects, but the role of private banks in Iraq is limited to currency trade.

 Al-Karawi said in an interview with “Baghdad Today” that “recent years have witnessed the opening of dozens of private banks in Baghdad and the rest of the Iraqi governorates in a major revival of the banking sector, which is the largest of its kind since the founding of the Iraqi state more than 100 years ago.” 

He added,   “Despite our support for the establishment of banks, what is more important in our view is what they provide to the national economy,

especially since banks are concerned with many issues, most notably  financing development projects and  overcoming obstacles in providing lending liquidity to citizens, companies, and businessmen, and  entering into economic partnerships that directly revive the investment file,  but what we see is It is different in most cases, and the role of banks is directly defined in the currency trade file.” 

He pointed out that  "the presence of more private banks than government banks, or vice versa, does not constitute a factor affecting the exchange rate of the dollar or the parallel market,

if the latter is managed in a way that contributes to stopping its smuggling and speculation, ending the dollarization file, and returning the dinar for all internal financial transactions," pointing out that

"The file of private banks needs real reconsideration and evaluation in order to push them to open up towards financing investments and increasing the pace of financial lending.”  He continued,

"It is unacceptable that some banks turn into more like banking offices and earn money through the currency auction, which needs an objective reconsideration."

The total number of banks in Iraq is 81 banks, of which the number of government banks is only 7, while the number of private banks is 74 banks, according to economic statistics.

On the other hand, the list of dollar sales in the Central Bank of Iraq shows that the number of banks participating in the currency auction, whether for cash sales or foreign transfers in general, ranges between 25 and 30 banks only.

Economic and political circles have accused specific banks of taking over the currency auction at the Central Bank, while

experts point out that this comes because of the so-called “correspondent banks” these banks own in other countries, which makes them capable of organizing foreign financial transfers compared to those banks that It does not have “correspondent banks”. 

However, according to a recent agreement between the Central Bank of Iraq and the Federal Bank, the number of banks capable of conducting external financial transfers will be increased from 5 banks to 10 banks, and  these new banks will be strengthened with advance shares of the dollar,

 making them able to carry out external transfers by relying on the correspondent banks that they own in the country. Several countries.

https://baghdadtoday.news/235462-مادور-المصارف-الأهلية-في-انتعاش-السوق-الموازي-للدولار؟.html

"IRAQ NEWS ANALYSIS" BY MNT GOAT, 14 NOV

ECONOMIST: THE DOLLAR EXCHANGE RATE WILL BE EQUAL TO THE GOVERNMENT PRICE EARLY NEXT YEAR

Academic and economic expert Khaled Haider expected, on Tuesday, that the exchange rate of the US dollar against the Iraqi dinar on the black market would stabilize in parallel with the government pricing, starting next year.

Haider said in a statement to Shafaq News Agency, “The global political situation is directly linked to the financial and economic situation of the region, and the recent events in Gaza and the accusations directed at Iran of supporting the Hamas movement, are all reasons that make us expect that the rise in the price of the dollar is to restrict Tehran because Iraq is an important economic region for the neighbor.” Eastern Province and most of the foreign currency goes there.”

He pointed out that “administrative and financial corruption in Iraq plays a major role in the exchange rate difference, especially those who benefit from this difference, which prompts the Central Bank of Iraq to pump large amounts of dollars into the currency auction, ranging from 200 to 250 million dollars daily to cover the market’s need for currency, in while the actual daily need ranges between $190 to $200 million, the bank is pumping more than that in an attempt to control the exchange rate.”

(The CBI told us in a prior articles the need range to support the economy was $150 – 180 million. So, I don’t think this article is very accurate.)

Haider stated, “Near-term expectations may be inaccurate, but it is expected, and according to a scientific economic reading, that the price of the dollar in the markets will approach the government pricing at the beginning of next year after the implementation of the Central Bank of Iraq’s decision to ban financial transactions in anything other than the Iraqi dinar, and this will make the Iraqi dinar more powerful in local markets.

(and also raise the rate. Can they then do the project to delete the zeros?)

Regarding the impact of the fluctuation of the dollar exchange rate on the citizen, the economic expert confirmed that this “reflected negatively on the citizen, as today the exchange rate of 100 dollars reached more than 164 Iraqi dinars, especially if we take into account that until the year 2020 the official exchange rate was 118 thousand dinars compared to 100 One dollar, while it currently ranges above 160 thousand dinars. Certainly, this disparity is reflected in the prices of consumer goods, since Iraq is a consuming country.”

Earlier today, Shafaq News Agency correspondent said that dollar prices fell with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 165,250 dinars against 100 dollars, while prices this morning were 166,000 dinars against 100 dollars.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/