Friday, March 7, 2025
FRANK26: "SECURITY & STABILITY FOR THE IQD COMES IN MANY FORMS, 7 MARCH
KTFA
FRANK26: "SECURITY & STABILITY FOR THE IQD COMES IN MANY FORMS."........F26
Due to the collapse of the toman.. Iranian parliament dismisses the Minister of Finance
3/2/2025
The Iranian parliament dismissed Finance Minister Abdolnaser Hemmati on Sunday after starting a no-confidence vote against him over his handling of the high inflation rate and the decline in the national currency exchange rate, state television reported.
The source explained that the Minister of Economic Affairs and Finance, Abdolnasser Hemmati, lost the vote of no confidence against him, with 182 parliamentarians out of 273 who attended the session designated for his dismissal supporting the motion.
Earlier on Sunday, Iran's parliament began a session that included a vote of no confidence in the finance minister, following a sharp decline in the value of the Iranian currency, the rial.
On the black market on Sunday, the riyal was trading at more than 920,000 to the US dollar, compared to less than 600,000 in mid-2024.
The decision to withdraw confidence from Finance Minister Abdolnaser Hemmati comes nearly 8 months after the formation of the government under President Masoud Pezeshkian.
Under the Iranian constitution, the minister's dismissal would take effect immediately, with an acting minister appointed until the government chooses a replacement.
TIDBIT FROM CLARE, 7 MARCH
Clare
Article "Analysis detailing the reasons for the fluctuations in the exchange rate of the Iraqi dinar against the dollar over 21 years" Quote "
...supply and demand were the most influential ...December was the month with the most frequent increase in the value of the dinar...f
ollowed by: August and June with increases in the value of the dinar against the dollar in 11 years, then April 10 times...The analysis concluded that the seasonal effect remains one of the main elements in determining the exchange rate trends in Iraq, as a recurring pattern appears at the end of the year and the beginning of the fiscal year..."
FRANK26: "ONCE AGAIN... NO!!!", 7 MARCH
KTFA
FRANK26: "ONCE AGAIN... NO!!!".......F26
Central Bank: Gold reserves grow by 45.1%
3/2/2025
The Central Bank announced, today, Sunday, that gold reserves grew by 45.1% in the fourth quarter of 2024 compared to the same quarter of the previous year.
The bank's media stated in a statement received by {Al Furat News} that "gold reserves increased from 12.29 trillion dinars in the fourth quarter of 2023 to 17.83 trillion dinars in the same quarter of 2024," explaining that this growth is due to the increase in the amount of gold and global gold prices.
The statement added that "the growth of reserves has great benefits, as it enhances economic and financial stability and protects against risks, and is considered an important tool for intervening in the foreign exchange market."
The statement added that "the growth of reserves has great benefits, as it enhances economic and financial stability and protects against risks, and is considered an important tool for intervening in the foreign exchange market."
EXCERPTS FROM MARKZ, 7 MARCH
EXCERPTS FROM MARKZ
Member: Any bond or RV news today Mark?
MZ: There are many stories of people who have been processing throughout the week. They are being told they plan to have them all done by the 17th or 18th of March. So IMO we can go at anytime between now and then.
MZ: I do have somebody who expects to keep their appoint to change their currency late this afternoon. , I think they may be premature. I should know by tonight if they are allowed to or not….it may be a banker who was optimistic and set the appointment. They have not yet canceled it.
MZ: It would make my day if they got to exchange. Even if the bank jumped the gun.
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