On Monday, the exchange rates of the US dollar witnessed a decline in the markets of the capital Baghdad, and in Erbil, the capital of the Kurdistan Region, with the opening of the main stock exchange in the country.
Dollar prices fell with the opening of the two main Al-Kifah and Al-Harthiya stocks in Baghdad, to record 150,750 dinars per $100, while on Sunday 151,000 dinars per $100 were recorded.
With regard to the selling prices in banking shops in the local markets in Baghdad, they decreased, as the sale price reached 151.750 dinars, while the purchase amounted to 149,750 dinars per 100 dollars.
In Erbil, the dollar recorded a decline, with the selling price in banking shops reaching 150.700 dinars per $100, while the purchase price reached 150.600 dinars per $100.
You haven't seen the investment side of the 2024 budget. That's where everybody should be paying attention. If you own dinar you should be paying attention...
They haven't exposed the 2024 investment side of the budget. Why? In my view it's exchange rate oriented... They need the exchange rate so they have the final accounts...
Article: "Bold step changes the liquidity map in Iraq"
Quote: "
The Central Bank of Iraq decided to reduce the internet rate and activate securities...
Analysts expect an increase in reliance on the Iraqi dinar as a base currency...It's expected the activation of a new dinar instrument will contribute to enhancing local liquidity..." A base currency is going to make you guys really excited.
What is a base currency? Base currency is the first currency in a pair of currencies being traded in the Forex Exchange Market. The second currency is called the quote or counter currency ...They're talking about it's not the US dollar that the base currency. It's going to be the Iraqi dinar...I'm really pumped and excited...! If that doesn't tell you these guys are gearing to go international I don't know what does... Powerful information!
Shafak News / A delegation from the Kurdistan Regional Government arrived on Monday in the federal capital Baghdad to discuss the census file scheduled for November 20.
The Kurdistan Ministry of Planning said in a statement to Shafak News Agency that “a Kurdish government delegation consisting of competent authorities in the Ministry of Planning arrived this afternoon in Baghdad.”
She added that “the visit comes with the aim of discussing the issue of the general population census in Iraq, which will include the governorates of the Kurdistan Region as well.”
The general census process in Iraq is scheduled to start on November 20.
A member of the Parliamentary Energy Committee, Ali Shadad, announced that the oil and gas law will not see the light because of the Kurdish position, while he stressed that the money of oil benefits go to the cities and neglects the residents of the fields.
The useful summary.. In the important news, you will find it on the Al-Furat News channel on Telegram. To subscribe, click here
Shadad said, during his hosting in the program {Free Words} broadcast by Al-Furat satellite channel this evening, that: “Through our followers and our supervisory role in the performance of the Sudanese government of Mohammed Shia, we found there are successes in various sectors, including the oil sector, but in return there is a deviation in the path of the education, health, water and electricity projects, agriculture and industry sectors as a result of previous acrections.”
He added, “Many factories and factories have been opened, but their production volume is very low and differs from what was announced to reach self-sufficiency, including fertilizer and rolling projects in Basra governorate.”
Shadad said that “through our repeated hosting of officials of the oil and electricity sectors, the government stressed the lack of a five-year plan to overcome the energy crisis in the country, while the reason for the success of the electricity plan in Basra is due to the multiplicity of the use of oil derivatives in the stations.”
He continued, “The Ministry of Oil began a year and a half ago by operating refineries, conducting coupling operations and others, and now we have self-sufficiency in oil derivatives, except gasoline, and we believe that the import of gas from Iran and Turkmenistan will burden the government,” noting that “Turkmenistan gas contracted by Iraq is a complement to Iranian gas and not a substitute for it.” Shaddad, the reason for replacing the import of gas from the UAE to Turkmenistan, was attributed to “the existence of the Iranian oil pipeline, as Iran agreed to use its gas pipeline by Turkmenistan to Iraq and was contracted to import 20 million cubic meters per day,” explaining “the origin of the contract with Iran is to equip Iraq 50 million cubic meters per day, but due to sanctions and its energy crisis, it shortened the processing process, so Iraq resorted to the supplement.” He also stressed “Iraq’s keenness to stabilize the oil market provided that it is not less than $ 70 dollars, and if it decreases, there will be a real crisis in the state treasury that reaches the suspension of projects in the capital and the governorates and may also affect the salaries of employees,” noting that “Iraq’s sales today 70 dollars and above, so there is no financial deficit throughout the current year.” Shadad All caused the Karbala refinery stopped “using water that is not suitable for heat exchangers and is borne by the executing company,” pointing out that “coming steps to question the director of the Central Oil Company and then hosting the General Manager of Al-Wasat Refineries and raising a number of questions and indicators that defined this subject.”
He continued, “We have laws that have exceeded the age of 50 and 60 years that expel investors, so we have seen the amendment of 5 important laws related to oil and gas that will see the light early next year and the oil and gas law that we do not see in the future and the reason is the Kurdish party, while the social benefits file was not implemented due to the policy of local governments, as it goes to the centers of cities, leaving the residents of oil fields areas suffering from diseases and lack of services.”
With regard to political affairs, specifically the knot of the four polemical laws, Shadad said, “So far, the political forces have not reached any agreement to resolve the four polemical laws, and there are ongoing attempts and meetings, and in principle, it was agreed to pass the real estate return law according to the government text without any additions, which confirmed that anyone who confiscated his real estate without compensation will be compensated at the moment.”
He added, “Deputies have a Sunni reservations about passing the real estate law that the Kurds pay; but there is no objection from any party to amending the Personal Status Law and the Sunni endowment. He is reluctant to send the draft law, while the general amnesty law has a slight difference in the definition of the word {unsent} and the government’s draft clear. I knew the absent that their names are not included in the records of the terrorist ISIS.”
Shadad concluded his dialogue with the resignation of “the resignation of Khamis Al-Khanjar from the presidency of the Sovereignty Party according to his desire to register a new party, which is covered by the Accountability and Justice Law, so he resigned and has nothing to do with the parliamentary or governmental situation.”