It exceeded the barrier of 260 million. Iraqi Central Bank’s dollar sales rise, 8 OCT

 Economy News – Baghdad

The Central Bank of Iraq’s dollar sales rose on Monday to more than $260 million in the auction of currency sales compared to yesterday, Sunday.

The bank sold in its auction today 260 million, 547 thousand and 910 dollars, covered by a base exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1310 dinars per dollar for external transfers, and at a price of 1305 dinars per dollar in cash.

Most of the dollar’s sales went to boost balances abroad in the form of remittances and credits, which amounted to $253 million and $147,910, up 97% from cash sales of $7,400,000.

The number of banks that bought the dollar in cash reached one bank, while the number of banks that met the requests to strengthen balances abroad reached 12 banks, and the total number of exchange companies participating in the auction was 17 companies.

---

Views 96

Added 2024/10/07 – 2:41 PM

https://economy-news.net/content.php?id=48439

RV UPDATE BY CLARE, 8 OCT

 Clare 

 Article: "Al-Sudani sends a message to the US President: We are on the verge of a dangerous slide"  

Quote:  "Iraqi Prime Minister Mohammed Shia al-Sudani said in a letter addressed to US President Joe Biden and the European Union countries, on Sunday, that the region is on the verge of a dangerous slide that could drag it and the world into ongoing wars."

 Article: "The government-owned Rafidain Bank announced on Friday that it has collected more than four trillion dinars electronically for the benefit of 700 government departments...

the total amounts that were settled and collected for the benefit of those government departments and deposited in their accounts at Rafidain Bank amounted to more than four trillion dinars."

Jon Dowling Breaking News Concerning The Dinar XRP Nuclear Power Plants ...

Mecca: Climate investment map may be launched in two months, 8 OCT

 Economy News – Baghdad

The National Investment Authority revealed on Monday an upcoming meeting with the International Finance Organization to present its projects, and while confirming its intensive quest to obtain financing from international banks for sustainable environmental projects, including the “Blue Amonia” project, pointed out that a new draft of the climate investment map may be launched within the next two months, pointing out that it is currently working on 3 projects related to the environment.

“The National Investment Authority cooperates with the International Finance Organization and the private sector to discuss financing environmentally friendly projects,” said the head of the authority, Haider Makiya, in a statement reported by the official news agency, and seen by “Economy News”.

He added, “The Authority will soon hold a meeting with the International Finance Organization to present a range of projects related to climate change and others, with the aim of obtaining funding for their implementation.”

“The Authority is working on many environmental projects at the moment, such as the Blue Ammonia project, which is the first environmental project of its kind in Iraq, in addition to the sustainable forest project, which needs financing, and the waste treatment project to convert it into energy,” noting that “these projects require funding and support from international institutions,” he said.

He stressed that “the authority is also working on preparing a climate investment map, and the final draft may be launched within the next two months.”

He added that “Iraq adopted the establishment of the Green Bank for Sustainable Development project last year, which is specialized in environmentally friendly projects, and will be interested with all projects affecting Iraq,” stressing that “the authority is working hard to obtain the necessary financing from international banks.”

---

Views 41

Added 2024/10/07 – 8:59 PM

https://economy-news.net/content.php?id=48461

RV UPDATE BY MILITIAMAN, 8 OCT

 Militia Man  

A new [financial] system that is fast and effect - digitally.  Hopefully they're talking about they're going to have to have an exchange rate to do that. A Real Effective Exchange Rate gets them across borders.  From here on out a different playing field, a digital playing field.  I think that's where we are.  I think it's really powerful information

 If you add up the oil, non-oil, tourism, all of the thing that's where they're going to be able to support the value of their exchange rate with a Real Effective Exchange Rate - Once approved by the IMF, Bank of International Settlements, The World Bank...This is really getting hot!

SANDY INGRAM: BREAKING NEWS: IQD Rate Increases Not Good #iqd

Most private banks closed, fears of liquidity crisis amid citizens’ anger , 8 OCT

 Tishwash:  keep in mind the dollar has been very volatile this past week it's at or just about at 1600 dinars per dollar   but this is definitely interesting

Most private banks closed, fears of liquidity crisis amid citizens’ anger

Today, many banks in Iraq witnessed a state of chaos and tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports about some other banks refusing to return customers’ deposits under the pretext of a lack of cash liquidity. 

This development prompted many citizens to quarrel with the management of the banks that remained open, amid growing fears that the officials of these banks would flee after emptying them of money.

The banks that have closed their doors include:

World Bank

Ashur Bank Babylon

Bank

Al Ansari

Bank Middle East

Bank Al-Qabeed Bank

Noor Iraq

Bank Trans Iraq

Bank Al-Huda

Bank Mosul Bank

As for the banks that remained open, but refused to return customers’ deposits under the pretext of lack of liquidity, they include:

National Bank,

Baghdad

Bank, Development

Bank, Al-Nasik Bank

, Bank of the South,

United Bank,

Union Bank,

Al-Tayf Bank

The sudden closure comes amid reports of financial turmoil hitting Iraq's banking sector, with many customers fearing they will lose their money amid growing rumours that some bank officials are planning to flee the country after withdrawing assets from branches.  link