The dollar continues its gradual decline, falling to 150 dinars, 25 DEC

 The dollar continues its gradual decline, falling to 150 dinars

Mawazine News – Baghdad
The exchange rates of the US dollar continue to decline against the Iraqi dinar in the local markets in the capital, Baghdad, and the provinces.
Dollar prices fell with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 150,200 Iraqi dinars against 100 dollars, while this morning it recorded 151,950 Iraqi dinars against 100 dollars .
Selling prices in banking shops in local markets in Baghdad declined, as the selling price reached 151,250 dinars for 100 dollars, while the purchase price reached 149,250 dinars for 100 dollars.
It is noteworthy that the Federal Reserve Bank, the US central bank, imposed procedures and restrictions on external financial transfers from Iraq, to ​​ensure that they do not reach Tehran and Damascus.

https://www.mawazin.net/Details.aspx?jimare=239578

"RV UPDATE" BY RAYREN98, 25 DEC

RayRen98 

 US BANKS HAVE THE RATES, SAID THEY WERE WAITING FOR FOREX TO LOAD BEFORE THEY CAN START ...THEY "THOUGHT" IT WOULD BE AT OPENING ON SUNDAY EVENING, BUT NOT YET.  FEDERAL RESERVE IS SENDING ALL STAFF IN TOMORROW NIGHT TO OBSERVE THE "TRANSACTION".

 .. .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

https://dinarevaluation.blogspot.com/2023/10/rv-update-by-babysmom-rayren98-17-oct.html 

 

Iraqi Dinar Latest Exchange Rate Today-Iraqi Dinar News Today 2023-IQD U...

Washington reaffirms commitment to continuously provide dollar services to Iraq, 24 DEC

Washington reaffirms commitment to continuously provide dollar services to Iraq

Shafaq News / The US Ambassador to Baghdad, Alina Romanowski, reiterated her country's commitment on Sunday to continue providing dollar services to Iraq.

In a post on X platform, Romanowski wrote, "The US Treasury continues its cooperation with the Central Bank of Iraq (CBI)," noting that "several Iraqi banks have now formed relationships with international banks for the first time, a positive step in making progress on banking sector reform."

She concluded by stating, "We will continue to provide US dollar services to Iraq in the interest of economic stability."

Earlier, on November 29, 2023, the US Wall Street Journal revealed that Washington declined Iraq's request for one billion dollars in cash from the Federal Reserve, citing concerns about Baghdad's use of the dollar conflicting with their efforts to curb it and halt illicit cash flows to Iran.

The American newspaper quoted US officials saying, "Cash in the hands of Iraqis has become a profitable source of dollars that flow illicitly to militias, corrupt politicians, and Iran."

Furthermore, i n early October, CBI affirmed that dollar shipments sent by the Federal Reserve adhere to agreed-upon schedules and timelines between the two monetary institutions.

https://shafaq.com/en/Iraq-News/Washington-reaffirms-commitment-to-continuously-provide-dollar-services-to-Iraq

"RV UPDATE" BY FRANK26, 24 DEC

 Frank26 

  Question:   "When we go to exchange is the removal of the 3-zero notes going to affect the value of our dinar?" 

 If you look at the American currency...we actually have a $500...$1,000...$10,000 bill...but after World War II our country become very powerful and we got rid of the 3 zeros just what Iraq is doing but we didn't do it physically.  We did it on our exchange rate... Those zero notes are still legal tender...

The dollar is slowly going down in value inside of Iraq.  

The Iraqi citizens are removing the dollar from their lives whether it be usage in commercial transactions, business, at the markets.  By doing that they're using their currency the way they were told to do.  That action is causing the dollar to lose ground and the Iraqi dinar to gain ground.

Iraqi Dinar Latest Exchange Rate Today-Iraqi Dinar News Today 2023-IQD U...

Iraq, Kurdistan's trade ministers meet for talks on joint business regulations, 24 DEC

 Iraq, Kurdistan's trade ministers meet for talks on joint business regulations

Shafaq News/ The trade ministers of the Iraqi federal government and the Kurdistan Regional Government (KRG) met on Sunday for talks on establishing a framework for cooperation in a bid to address strained ties between the two sides. 

The meeting, held in Baghdad, was attended by Iraqi Minister of Trade Atheer Dawoud al-Gharari and KRG Minister of Trade and Industry Kamal Muslim Said.

The ministers, according to a readout by the federal ministry, discussed a spectrum of controversial issues, including the unification of import and export licenses, company registration, trade fairs, and the automated ration card system.

"Al-Gharari stressed the importance of cooperation between the two governments in all areas of common interest, particularly in the areas discussed at the meeting," the readout said. "He said that such cooperation would help to provide the best possible services to the people of Kurdistan, as well as to facilitate trade and commerce between the two regions." 

Said echoed the federal minister's remarks and assured that "such cooperation would help to address any outstanding issues and facilitate regular procedures." 

The ministers agreed to hold follow-up meetings to discuss the specific issues raised at the meeting. They also agreed to work together to develop a joint understanding and framework for cooperation.

https://shafaq.com/en/Iraq-News/Iraq-Kurdistan-s-trade-ministers-meet-for-talks-on-joint-business-regulations