Monday, January 8, 2024
Central Bank Of Iran: Tehran And Moscow No Longer Need “SWIFT” In Their Dealings, 8 JAN
Central Bank Of Iran: Tehran And Moscow No Longer Need “SWIFT” In Their Dealings
January 7 21:13 Information/Continue...Deputy Governor of the Central Bank of Iran for International Affairs, Mohsen Karimi, announced on Sunday that Iran and Russia no longer need the “SWIFT” system in transactions between them. Mohsen Karimi said in a statement to Iranian television:
“Exporters from both countries have the possibility of exporting in their national currency,” adding:
“In this project, exporters and importers exchange their goods for riyals. As for the countries from which we import with riyals, it is possible to export to them with riyals as well.”
Karimi referred to the opening of a letter of credit between Iran and Russia, saying:
“We have linked the correspondence network between the two countries, which means that the banks of the two countries no longer need to communicate through Switzerland.
It is possible for the exporter to submit an invoice in riyals to the Russian side and receive the money from the Russian banks.” in Iran". Karimi added:
"Iranian businessmen will be able to conduct their economic transactions with Iraq and Afghanistan in riyals during the next six months."
For his part, the Minister of Trade of the Eurasian Economic Union, Alexandrovich Slinev, explained:
“A large volume of our trade is carried out in national currencies, and 8the performance of our central banks is improving,” according to what was reported by the “Mehr” agency. LINK
"RV UPDATE" BY BEARDED PATRIOT, 8 JAN
Bearded PatriotUSA
Telegram post
1/6/23
Kathleen Record
It appears to me that the news is a flood now. I can’t even keep up with all of it. Tressy, what is this about the 10 day countdown put out by Scavino and mentioned by today’s X22 report?
The TREK with Theresa Griffith
I didn’t hear that, but I just got an update and that lines up with the timeframe I was given for the roll out of NESARA benefits, including Debt Jubilee.
Kathleen Record
You mean this weekend maybe January 7th?
The gap between supply and demand ‘strills’ the Iraqi dinar. Two paths of low dollar prices, 8 JAN
The gap between supply and demand ‘strills’ the Iraqi dinar. Two paths of low dollar prices, 8 JAN
The former Director of the Bureau of Financial Supervision, Salah Nouri, today, Sunday, identified two paths through which the exchange rate of the US dollar against the Iraqi dinar can be reviewed.
Nouri told {Euphrates News}, “the exchange rate is determined between supply and demand,” noting that “the demand for dollars from traders for the purpose of import, which is very diverse due to the disruption of industry and agriculture, while the supply is sourced by the Central Bank through banks, banking offices and foreign transfers.”
He added, “The central bank has taken many measures in accordance with the agreement with the US Federal Bureau to legalize foreign transfers and eliminate dollar smuggling outside the controls and procedures of the Central Bank.”
However, “in any case, a gap between supply and demand remains, and demand is met by banks with their dollar balances, and this remains fluctuating up and down,” Nouri said.
The former director of the Bureau of Financial Supervision continued, “If the situation of traders adapts to the procedures of the Central Bank, the difference between the official exchange rate and the parallel market price will be small, but some traders complain about the complexity and slowness of the central bank’s procedures, which pushes them to demand from the parallel market.”
He pointed out that “the exchange rate is falling as a result of the central bank’s dealing with several import currencies with foreign and Arab banks.”
On February 7, the Council of Ministers announced the approval of the amendment of the dollar exchange rate to 1320 dinars per dollar.
About a year ago, specifically since the Central Bank began working on the electronic platform and the international financial transfer system “SWIFT” (SWIFT), dollar exchange rates in Iraq have not stabilized despite the government and the central bank’s attempts to control the exchange rate in parallel markets.
From.. Raghad Daham
"RV UPDATE: TWO BANKING ANNOUNCEMENTS" BY GOLDILOCKS, 8 JAN
Two Banking Announcements:
* Basel Committee finds Mexico compliant with its Net Stable Funding Ratio standard and large exposures framework, and largely compliant with its Liquidity Coverage Ratio.
* Assessments find Switzerland largely compliant with the Committee’s Net Stable Funding Ratio standard and large exposures framework.
https://www.bis.org/press/p231213.htm
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“Mortgage demand plummets again despite drop in interest rates”
Let me give you an idea of just how big the Mortgage Market really is: Residential Mortgage Market Size: Residential $13.864 trillion. This is not counting Corporations and Business offices.
The Housing Market is still in the process of resetting their prices to coordinate their values with the Banking System’s new Basel 3 Capital requirements being implemented on January the 16th, 2024.
Look for new market valuations to form in the near term inside this multi-trillion-dollar business. Coordinating real-world values between the markets and the banking system is a phase of the global economic reset that is just beginning to come to a head.
© Goldilocks
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