Foreign Remittances Constitute More Than 93% Of The Central Bank’s Sales., 24 FEB

 Foreign Remittances Constitute More Than 93% Of The Central Bank’s Sales.

Time: 2025/02/23 Reading: 960 times  {Economic: Al Furat News} Foreign remittances, today, Sunday, in the sales of the Central Bank of Iraq, reached more than 93% in the hard currency auction.

The bank sold in its auction today 293 million, 340 thousand and 631 dollars, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.

Most of the dollar sales went to strengthen the balances abroad in the form of transfers and credits, which amounted to 275 million, 440 thousand and 631 dollars, at a rate of 93.82%, compared to cash withdrawals amounting to 17 million, 900 thousand dollars.

The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 5 banks, and the total number of exchange companies participating in the auction was 23 companies.  LINK

TIDBIT FROM MNT GOAT, 24 FEB

  Militia Man 

 Article:  "Trump gives Baghdad a choice export Kurdistan's oil or face sanctions like Iran" 

 There is a plan and there is a way [to get the oil flowing].  This tells us there's clear pressure on Iraq to stay the course.  

This news is somewhat intense.  It suggests power players are making sure Iraq stays on board with her reforms.  I suspect this pressure is going to be used to keep Iraq on track and get this going...The heat is up and I like it.  It's good.

MAJEED: READY TO GO ON FOREX!! @DINARREVALUATION #iraqidinar #iraqidinar...

Oil: We Will Receive 185 Thousand Barrels Per Day From The Kurdistan Region As A First Stage, 24 FEB

 Oil: We Will Receive 185 Thousand Barrels Per Day From The Kurdistan Region As A First Stage

Iraqi oil refinery   Energy  Economy News – Baghdad   The Undersecretary of the Ministry of Oil for Extraction Affairs, Basem Mohammed Khudair, confirmed today, Sunday, that the ministry will receive about 185 thousand barrels per day from the Kurdistan Region as a first stage after resuming oil exports through the Turkish port of Ceyhan, while he indicated that the quantity will gradually increase to 400 thousand barrels per day.

"The suspension of exports from the Kurdistan Region during the past period caused a problem for the oil fields in the region, and a period of rehabilitation is needed to restore their production capacity, with the aim of reaching the export of 400,000 barrels per day, which is the minimum quantities stipulated in the budget," Khadir said in a televised statement followed by "Al-Eqtisad News. "

He added that "the quantity currently available for export in the region is 300,000 barrels per day, part of which is allocated for internal use, while the remaining 185,000 barrels will be allocated for export."

He pointed out that "the past period witnessed a visit by a delegation from the Ministry of Oil to the region, and it was agreed to form joint committees to follow up on the mechanisms for resuming oil exports," explaining, "We were informed by the region of its readiness to start the export process."

He continued, saying, "The technical teams of the North Oil Company and representatives of the Kurdistan Region are working to inspect the oil export pipelines and ensure their suitability and readiness to resume pumping oil through them."

Khadir confirmed that "the Ministry of Oil has contacted the Turkish side to inquire about the readiness of the pipeline designated for export via the port of Ceyhan, and we are awaiting an answer within the next 24 hours."

He also stated that "the ministry is keen on the continuity of export operations via the port of Ceyhan as part of a strategic vision for the relationship between Iraq and Turkey, and there is continuous communication with the region and the Turkish side to ensure the continuation of cooperation and export."   https://economy-news.net/content.php?id=52947

TIDBIT FROM MNT GOAT, 24 FEB

 Mnt Goat  

Some more good news is that ISSUE NO. (4814) OF THE IRAQI GAZETTE WAS PUBLISHED ON 2/17/2025. It included Law No. (4) of 2025 “First Amendment to the Federal General Budget Law of the Republic of Iraq for the Fiscal Years (2023-2024-2025) No. (13) of 2023.”

 Also they just told us the budget will not yet be open as there are technical issues yet to resolve with the Kurds.  Like I told everyone that the RV rate will NOT EVER be in the budget...the law is passed and in the gazette and still no RV.   I assure you with 1000% certainty that this event is NOT going to trigger the RV.

Reinaldo JC: The CBI needs to EXPOSE/CHANGE/INCREASE the Dinar rate! for approve the Budget! #iqd