Dollar Prices Rise In Baghdad And Erbil With Stock Exchanges Closed, 25 DEC

 Dollar Prices Rise In Baghdad And Erbil With Stock Exchanges Closed

Economy  | 05:00 - 12/24/2024   Mawazine News – Economy  The markets of the Iraqi capital, Baghdad, and Erbil, the capital of the Kurdistan Region, witnessed a rise in the dollar exchange rates with the closing of the stock exchanges on Tuesday evening. The

dollar prices also rose with the closing of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 151,400 dinars for every 100 dollars, after it had recorded 151,200 dinars this morning.

Selling prices also rose in the local markets in Baghdad, where the selling price reached 152,500 dinars, while the purchase price reached 150,500 dinars for every 100 dollars.

In Erbil, the dollar also recorded a rise, where the selling price reached 151,400 dinars for every 100 dollars, while the purchase price reached 151,300 dinars for every 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=257837

KEVIN J. MONANGAI: The chance that Iraq doesn't reinstate the Iraqi Dinar (IQD) by the end of 2024, 25 DEC

 Kevin J. Monangai✰

Alright, let's talk this through. 

The chance that Iraq doesn't reinstate the Iraqi Dinar (IQD) by the end of 2024 is extremely slim -probably a 1 or 2 out of 10 at most IMO.

 Here's why:

Right now, Iraq relies on something called the dollar auction to keep its economy running. This system lets their central bank supply U.S. dollars for things like trade and imports. But here's the deal: the auctions stop on December 31, 2024. After that, there's no safety net. The IQD has to be ready to step in as the currency for international transactions.

The Central Bank of Iraq and the government have been preparing for this all year. They've connected Iraqi banks to global financial networks, partnered with major banks like JPMorgan, and upgraded their systems to meet international standards. They're ready to flip the switch.

If they don't reinstate the IQD in time, it would create chaos-banks wouldn't be able to process trade payments, inflation could spike, and public confidence in their financial system could collapse. Frankly, they can't afford to miss this.

So, will they pull it off? It's almost certain. 

Everything points to the RI happening before December 31, probably between December 26 and December 30, IMO. They've done too much work to let this slip. Missing the deadline is highly unlikely.

MAJEED: "The rate about to change and Kurdistan will receive HCL" @DINARREVALUATION #iraqidinar

 

The President of the Republic stresses the importance of consolidating security and stability and enhancing brotherhood and coexistence among all components, 25 DEC

 Congratulations on Christmas.. The President of the Republic stresses the importance of consolidating security and stability and enhancing brotherhood and coexistence among all components

Tuesday 24 December 2024 18:49 | GeneralNumber of readings: 106

Baghdad / NINA / The President of the Republic, Dr. Abdul Latif Jamal Rashid, congratulated the Christians of Iraq on the occasion of Christmas, stressing the importance of working to consolidate security and stability and enhance brotherhood and coexistence among all components.

The President said in a tweet on the Aks website: "On the occasion of Christmas and the New Year, we extend our warmest congratulations and blessings to our people and our Christian families in Iraq and the world, wishing them a happy holiday in which everyone enjoys security, safety and joy."

He added: "On this dear occasion, we stress the importance of preserving the gains achieved in the country, working to consolidate security and stability, and enhancing brotherhood and coexistence among all components, and working together to build a prosperous future for all Iraqis. We also stress the importance of working to establish security and peace and end the tensions and crises facing the region." / End9   https://ninanews.com/Website/News/Details?Key=1176497

MAJEED : ONCE THE IQD GO ON FOREX , IT WILL BE LIKE THE SHOTGUN TO LET THE OTHER CURRENCIES REVALUE WITH IT, 25 DEC

 Deborah Jones  

Majeed thank you soooo much for your insight! Do you think the forex rate change will apply to just IQD or might Dong and/ or Zim, Bolivar also be changed in forex?

Majeed

As I've heard before, once the Iraqi dinar Go on Forex it will be like the shotgun To let the other currencies revalue with it.

But I don't know if they will be at the same time or no.

NADER FROM MID EAST: I FEEL IT'S VERY VERY CLOSE!! @DINARREVALUATION #iraqidinarinvestor #iraqidinar

 

11 days holiday in Kurdistan. A ceremonial step or evading salary payment?, 25 DEC

 Baghdad Today – Kurdistan

Kurdish politician Latif Al-Sheikh revealed on Tuesday (December 24, 2024) the main reason behind the Kurdistan Regional Government’s decision to grant an 11-day public holiday to all employees.

The Sheikh said in an interview with Baghdad Today that “the main reason behind this long holiday is to avoid the payment of employees’ salaries for November and January, and to postpone the disbursement to the first month of next year.”

He added that “the regional government is aware that employees, especially in Sulaymaniyah and Halabaja, will be on strike as a result of the delay in the disbursement of salaries, and therefore resorted to granting a long holiday on the pretext of New Year’s celebrations.”

The Sheikh pointed out that “the duration of the holiday granted in Kurdistan is unprecedented, as the countries of the world, including European countries, do not grant a holiday for this long period during the New Year celebrations.”

The Kurdistan Regional Government decided on Monday (December 23, 2024) to ossin the official working hours for 6 days on the occasion of Christmas.

The correspondent for Baghdad Al-Youm said that the Kurdistan Regional Government decided to disable the official working hours from 25/12 until 2/1 of the new year.

He added that the reason for the disruption is to allow citizens to celebrate birthdays, provided that the official working hours of all institutions begin on 5/1.

https://baghdadtoday.news/264597-11-يوما-عطلة-في-كردستان.-خطوة-احتفالية-أم-تهرب-من-صرف-الرواتب؟.html