Tuesday, December 31, 2024

FIREFLY: That's the only way Alaq has a way out!! @DINARREVALUATION

 


Iranian source to Baghdad Today: Al-Sudani to visit Tehran soon, 31 DEC

  Iranian source to Baghdad Today: Al-Sudani to visit Tehran soon

A responsible source in the Iranian presidential office revealed, today, Sunday (December 29, 2024), an upcoming visit by Iraqi Prime Minister Mohammed Shia al-Sudani to the capital, Tehran.

The source said in an interview with Baghdad Today, "Al-Sudani will visit Tehran, and this visit is likely to be in the first half of January 2025, and we are coordinating with the Iraqi side regarding this visit."

He pointed out that "the visit of Al-Sudani and the accompanying ministerial delegation will focus on the situation in the region, especially in Syria after the fall of President Bashar al-Assad's regime at the hands of extremist groups on December 8."

Al-Sudani's last visit to Tehran was on May 22, to participate in the funeral of the late Iranian President Ebrahim Raisi, who was killed in the crash of his presidential plane in northwestern Iran on the 19th of the same month.

On September 11, Iranian President Masoud Pezeshkian visited Iraq for a three-day visit during which he met with officials in Baghdad. He then went to Erbil, Sulaymaniyah, Najaf, and Karbala, concluding his visit in Basra Governorate in the far south of Iraq.  link

IRAQ UPDATE, 31 DEC

IRAQ UPDATE

Summary

Here are  the recent developments surrounding the Iraqi Dinar and the Vietnamese Dong, highlighting the implications of potential higher exchange rates for both currencies.

Highlights

  • 🌍 Iraq’s Natural Resources: Iraq ranks first globally in natural resource density, offering a promising landscape for investment.
  • 💵 Dollar Exchange Rates: The closure of U.S. Dollar auctions could lead to spikes in parallel market rates, affecting the value of the Iraqi Dinar.
  • 🔍 Positive Outlook: Recent reports indicate that the Iraqi Dinar may have a higher exchange rate than previously anticipated, suggesting economic improvement.
  • 📈 Investment Opportunities: Increased currency valuation for the Dinar and Dong could lead to new investment opportunities for international investors.
  • 📊 IMF Articles Explained: The video discusses key IMF Articles (8, 12, and 14) that regulate currency exchange and their significance for economic stability.
  • 💼 Due Diligence in Investing: Viewers are advised to conduct thorough research and consult financial advisors before making investment decisions.
  • ✍️ Engagement with Audience: The narrator encourages viewer interaction by inviting comments and feedback on the potential changes in currency rates.

Key Insights

  • 🌐 Economic Health Reflected in Currency Value: A higher value of the Iraqi Dinar not only signifies a stronger economy but also enhances the purchasing power of Iraqi citizens. This positive shift can lead to increased consumer confidence and spending, ultimately fostering economic growth. For international investors, a robust currency indicates a healthier market, making investments in Iraq more appealing .

  • 💸 Impact on Investment Strategy: The potential increase in the Dinar and Dong’s exchange rates signifies a pivotal moment for investors holding these currencies. A higher valuation could result in greater returns on investments, encouraging investors to maintain their positions and explore further investment opportunities. This creates a scenario where strategic trading could lead to significant financial gains.

  • 📉 Challenges of Currency Valuation: While higher currency valuations can boost exports, they also pose challenges for imports, potentially making them cheaper. This creates a delicate balance that countries like Iraq and Vietnam must navigate to ensure long-term economic stability. If not managed properly, reliance on exports could lead to economic vulnerabilities.

  • 🏦 Importance of Central Bank Actions: The visit from the U.S. Treasury delegation to the CBI showcases international recognition of Iraq’s efforts to stabilize its economy and combat issues such as money laundering. This acknowledgment can instill confidence among investors, suggesting that Iraq is taking significant steps towards economic reform.

  • 📉 Understanding IMF Regulations: The IMF’s stipulations regarding currency movement under Articles 8, 12, and 14 highlight the importance of flexible exchange rates for economic stability. Countries that can manage their currency valuations in response to economic conditions are better positioned to attract foreign investment and sustain growth.

AJ: "Here we are Jan 2nd 2025 done" @DINARREVALUATION #iraqidinar

 


The Central Bank announces the positive indicators achieved in the third quarter of 2024, 31 DEC

  The Central Bank announces the positive indicators achieved in the third quarter of 2024

The Central Bank of Iraq announced, today, Sunday, the positive indicators achieved in the third quarter of 2024.

A statement by the bank, received by the Iraqi News Agency (INA), stated that "the total deposits in banks operating in Iraq recorded a growth of (4.2%) in the third quarter of 2024, as their value amounted to (127.6) trillion dinars, compared to their value of (122.4) trillion dinars in the third quarter of 2023, while cash credit granted by public banks recorded a growth of (11.6%) in the third quarter of 2024, as its value amounted to (72.7) trillion dinars, compared to its value of (65.1) trillion dinars in the third quarter of 2023."

The bank stated that "deposits in private banks operating in Iraq recorded a growth of (14%) in the third quarter of 2024, as their value amounted to (18.7) trillion dinars, compared to their value of (16.4) trillion dinars in the third quarter of 2023, while cash credit granted by private banks achieved a growth of (15.1%) in the third quarter of 2024, as its value amounted to (12.2) trillion dinars, compared to its value of (10.6) trillion dinars in the third quarter of 2023," noting that "these rates reflect the increased confidence of economic units in private banks operating in Iraq."

He added, "Private sector deposits in banks operating in Iraq recorded a growth of (3%) in the third quarter of 2024, as their value amounted to (56.1) trillion dinars, compared to their value of (54.4) trillion dinars in the third quarter of 2023," indicating that "cash credit granted to the private sector by banks operating in Iraq achieved a growth of (8.6%) in the third quarter of 2024, as its value amounted to (42.8) trillion dinars, compared to its value of (39.4) trillion dinars in the third quarter of 2023, stressing that this increase reflects the increased confidence of the private sector in banks operating in Iraq."

The bank revealed, according to the statement, that "the narrow money supply in Iraq recorded a growth of (4.1%) in the third quarter of 2024, as its value reached (158.6) trillion dinars, compared to its value of (152.4) trillion dinars in the third quarter of 2023, while the broad money supply in Iraq recorded a growth of (3.3%) in the third quarter of 2024, as its value reached (179.8) trillion dinars, compared to its value of (173.9) trillion dinars in the third quarter of 2023."

He added, "The gold reserves of the Central Bank of Iraq recorded a significant growth of (57%) in the third quarter of 2024, as their value amounted to (16.8) trillion dinars, compared to their value of (10.7) trillion dinars in the third quarter of 2023," stressing that "the annual inflation rates in Iraq are among the lowest annual inflation rates in the countries of the region for the months of August and September of 2024, as the rate remained acceptable at (3.7%) and (3.1%) respectively, and this reflects price stability and the success of monetary policy in Iraq."  link


TIDBIT FROM TEXAS SNAKE, 31 DEC

 TEXAS SNAKE

Chat owner Everyone please pay attention to the currency exchange when it opens in the morning, Iraq is going to deal only with commercial banks which could very well be our beginnings to exchanges. 14 10:24 p. m.

MAJEED: “the CBI has canceled It’s 20 years controversial auction!! @DINARREVALUATION #iraqidinar