Iraq Surpasses Saudi Arabia In Oil Exports To America, 8 JAN

 Iraq Surpasses Saudi Arabia In Oil Exports To America

Energy  Economy News _ Baghdad  The US Energy Information Administration announced on Sunday that Iraq's oil exports to America decreased over the past week.

The administration said in a table seen by Al-Iqtisad News, “The average US imports of crude oil during the past week from nine major countries amounted to 5.909 million barrels per day, an increase of 1.37 million barrels per day compared to the previous week, which amounted to 4.872 million barrels per day.”

She added, "Iraq's oil exports to America amounted to 239,000 barrels per day last week, down by 141,000 barrels per day from the previous week, which averaged 380,000 barrels per day."

She pointed out that "most of America's oil revenues during the past week came from Canada at an average of 3,796 million barrels per day, followed by Mexico with an average of 952 million barrels per day, and oil revenues from Brazil amounted to an average of 305 thousand barrels per day, and then Libya at an average of 171 thousand barrels per day."

According to the administration, “the amount of American imports of crude oil, from Saudi Arabia, is at a rate of 139,000 barrels per day, from Colombia, at a rate of 129,000 barrels per day, from Nigeria, at a rate of 95,000 barrels per day, and from Ecuador, at a rate of 83,000 barrels per day, while no quantity of oil was imported.” Russia".   01/07/2024 - https://economy-news.net/content.php?id=39201

"RV UPDATE" BY MNT GOAT, 8 JAN

 Mnt Goat 

 I am told they fully intend to have this parallel market on target and under control within January...if they can accomplish this target, we know what their next move will be... We don’t need to speculate...We know as a FACT!

The CBI is still closely monitoring the parallel rate...the parallel rate is expected to decline sometime in early January and at least match the CBI “official” rate. At that time the CBI will revalue the “official” rate to much closer to if not at 1000. Then again drive the parallel market to match it. This may take some time but I am being told they are talking weeks and not months... my CBI contact tells me we are almost here now and with the opening and spending of the 2024 budget and currency swaps with other neighboring countries for trade, it should finally break the parallel market and end it.

So, 2023 was an outstanding year for progress in the currency monetary reforms in Iraq. I could hardly believe that so much was done in such a short period of time, if you compare the other 20 years since the 2003 invasion. In today’s news we read multiple articles talking about all this progress and how they have so far managed to get the parallel rate from 160,000 to 145,000. 

This is very close to the official CBI rate of 132,000, but not yet there as they expected. My CBI contact is telling me they still want to bring it closer and more stable. Currently there are still too many wide swings too often. It’s all very good signs but now there yet.    

My CBI contact tells me they do need it closer and stable and when it does, they will trigger another CBI official rate revaluation. But this will still be the program rate not what we want. 

We need to keep our eyes on the CBI “official” rate.

When this rate drops again, I was told they will move ahead on the project to delete the zeros. They want to accomplish this in the month of January and are optimistic they can. So, this is the very good news for today to kick off the new year.

https://dinarevaluation.blogspot.com/2024/01/we-need-to-keep-our-eyes-on-cbi.html

Iraq Central Bank - Iraq Dinar - Iraq Stock Exchange - 2024 Platform - I...

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

https://almaalomah.me/news/52567/economy/البنك-المركزي-الإيراني:-طهران-وموسكو-لم-تعودا-بحاجة-إلى-سويف

"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?

Iraqi Dinar | Today CBI Big Update World biggest Even IQD Revaluation | ...

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

https://alforatnews.iq/news/الفجوة-بين-العرض-والطلب-تُرهق-الدينار-العراقي-مساران-لانخفاض-أسعار-الدولار