Al-Alaq: The monetary situation in Iraq is excellent and our reserves support the stability of the exchange rate, 26 NOV

 Al-Alaq: The monetary situation in Iraq is excellent and our reserves support the stability of the exchange rate

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Monday, that the monetary situation in Iraq is very excellent, noting that “the increase in the volume of reserves enables us to support the exchange rate and achieve monetary stability.”

Al-Alaq added in a press statement that the Central Bank is distinguished by its ability to "respond to providing the country's needs for currency," indicating that "foreign transfers for trade purposes are proceeding smoothly after the implementation of the new system."

Al-Alaq revealed that "the Central Bank will launch a new mechanism for travel or treatment transfers next year," stressing that "there are agreements with four companies to launch a new mechanism for travel or treatment transfers."  link

MAJEED: " $1 IRAQI DINAR PER $13 USD, 26 NOV

 MAJEED

MNT GOAT: "We are still seeing lots of news from Iraq on educating the citizens in many areas" @DINARREVALUATION

 

DINAR REVALUATION REPORT: THE BUDGET HAS BEEN PASED !! : Draft amendment to first budget law is discussed at a meeting of the Financial Committee, 26 NOV

 THE BUDGET HAS BEEN PASSED!!! 

Draft amendment to first budget law is discussed at a meeting of the Financial Committee

The Parliamentary Financial Committee held a meeting today, Tuesday, to discuss the draft law on the first amendment to the Federal Budget Law for the fiscal years (2023-2024-2025). 

 The reporter of the Iraqi News Agency (INA) said: "The Parliamentary Financial Committee held a meeting today to discuss the draft law on the first amendment to the Federal General Budget Law for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023."  

He added that "the meeting included discussing the report of the Financial Committee on the draft law of the Center for Banking Studies to submit it to the second reading, as well as discussing the proposal for the first amendment to the law of the General Authority for Monitoring the Allocation of Federal Imports No. (55) of 2017, in addition to discussing the proposals of the Finance Committee on the law of the first amendment to the National Authority for Nuclear and Radiological Regulation Law No. (1) of 2024."

He added that "during the meeting, they discussed subject of database servers of Rafidain Bank."  
 
 He pointed out that "the issue of interpreting the provisions of Article (2) / first - (18) of the budget law on the extent to which agricultural and residential areas are included in the electricity distribution network was also discussed."

DINARLAND HIGHLIGHTS, 26 NOV

 DINARLAND HIGHLIGHTS

Summary

Iraqi Dinar Guru updates reveal optimism about a new exchange rate linked to the HCL, ongoing budget discussions, and important currency regulations.

Highlights

• 🛢️ Frank 26 emphasizes that the HCL’s approval will drive a new exchange rate.
• 📊 Iraq’s population census shows 45 million residents, with a slight male majority.
• 💵 Sandy Ingram reports new regulations banning cash transactions in USD starting January 1, 2024.
• 📅 Mark Z predicts potential RV this week amidst budget amendments discussions.
• 🔄 Auctions are transitioning away from USD, focusing solely on the IQD.
• 🇹🇷 Turkish trade minister highlights Iraq as their third-largest trading partner.
• 🎉 Militia Man confirms high expectations for the Dinar’s value and purchasing power.

Key Insights

• 🛢️ HCL and Exchange Rate: The implementation of the HCL is crucial for determining the new exchange rate, indicating that governmental decisions directly impact currency value.
• 📊 Demographic Trends: The census results reflect a balanced population, which can influence economic policies and resource allocation in Iraq.
• 💵 Currency Regulations: The ban on USD transactions aims to stabilize the economy and comply with international regulations, which could impact investor confidence.
• 📅 Budget Amendments: The ongoing discussions about budget amendments suggest a proactive government approach to economic stability, potentially paving the way for currency revaluation.
• 🔄 Transition to IQD: The shift from USD to IQD for oil sales indicates a strategic move to strengthen the local currency and reduce dependency on foreign currency.
• 🇹🇷 International Trade Relations: Iraq’s position as a significant trading partner for Turkey highlights its importance in regional trade dynamics and could foster economic growth.
• 🎉 Optimism for Revaluation: The growing optimism surrounding the Dinar’s value suggests that stakeholders are closely monitoring government actions, anticipating positive changes in currency valuation.

MAJEED: " $1 IRAQI DINAR PER $13 USD" @DINARREVALUATION

 

President Rashid: Unifying efforts to establish peace and stability in the region, 26 NOV

 President Rashid: Unifying efforts to establish peace and stability in the region

INA - BAGHDAD

President of the Republic, Abdul Latif Rashid, stressed on Tuesday the necessity of unifying efforts to establish peace and stability in the region.

"Rashid received, at the Baghdad Palace, the Special Envoy of the Russian President for the Middle East and Africa Mikhail Bogdanov, where he conveyed the greetings of Russian President Vladimir Putin," according to a statement by the Presidency of the Republic - received by the Iraqi News Agency - INA.

The statement included that "at the beginning of the meeting, the President of the Republic expressed his thanks and appreciation for the greetings of the Russian President," conveying "Bogdanov's wishes to President Putin for health and to the friendly Russian people for continued progress and prosperity. "

During the meeting, they discussed the nature of bilateral relations between the two countries, as well as developments in regional and international situations stressing "the necessity of unifying efforts to establish peace and stability in the region."

The President of the Republic stressed "the depth of relations with Russia, which exceed 80 years since their launch," indicating at the same time "the necessity of upgrading them to include the fields of energy, economy, technology and investment, in a way that achieves the supreme interests of the two friendly countries."

In turn, the Russian President's Special Envoy expressed his country's "keenness to expand the horizons of constructive cooperation with Iraq at various levels and stages."