Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.
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Mrs. BGG
Iraqi Dinar/Dollar auction (most recent listing) 05-19-16
Currency Auctions Announcement No. 3202
This daily currency auction was held in the Central Bank of Iraq on the 05-19-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 136,198,003 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 136,198,003 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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Just because something doesn’t do what you planned it to do doesn’t mean it’s useless. – Thomas Edison
*** Current News ***
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Rafidain Bank announces financial achievements in the provision of banking services
(Independent) .. Rafidain Bank reviewed the financial achievements in the provision of banking services to state institutions and citizens and other sectors.
The Director – General spokesman Kamal al – Hassani said the bank At the fifth anniversary after the seventieth anniversary, which coincides with the nineteenth of this month managed to achieve sophisticated financial achievements compared to the previous departments.
He noted that the bank ‘s shares in the adoption of the electronic card (ironing Card – MasterCard) in pensions and groups other covered by using advanced banking technology for users of the card in all its branches inside and outside Alarac.adavh to pushing staff private courses to develop Mlakathm up experience in the fields of employment financial and banking and access to international banking experiences in this regard.
Hassani said that the bank has contributed in collaboration with the Central Bank to provide a dollar coin to citizens for multiple purposes and its own resources and in accordance with the conditions set by the Central Bank. And develop a plan for expansion and opening up to the banks of the world and provided necessary facilities for employees and retirees ..
With regard to the granting of loans and advances noted , many of which provide for them under the conditions covered by the law and regulations, in addition to that it has started to open new branches in the country to provide services to its customers.
As between Hassani and the presence of many of the bank ‘s achievements and it will supplement the media out later.
Read More: http://www.dinarupdates.com/showthread.php?34611-Rafidain-Bank-announces-financial-achievements-in-the-provision-of-banking-services
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Parliamentary Finance rejects the dictates of the International Monetary Fund
He criticized the parliamentary finance committee member Ahmed Sarhan Sarhan, Sunday, the dictates of the International Monetary Fund and invite them to reduce the federal budget in exchange for the agreed loan already disbursed.
Said Sarhan “The budget is a federal law in force, voted by the House of Representatives after extensive discussion, and can not be amended only through a veto of the law of the Federal Court and sent back to parliament to amend it according to specific paragraphs, or through a proposal submitted signed by fifty deputy to modify it according to specific conditions.”
“The budget can not cut it, they originally are compressed, and the employees and retirees and the card Altamonah and fuel subsidies salaries allocations are a red line can not be compromised.”
He said the “international loan believe that there was no risk of him any, because it represents an agreement signed between the IMF and the Iraqi government.”
Ahmad noted that “we reject any dictates or conditions established by the International Monetary Fund in exchange for submitting a loan has been agreed in advance to help Iraq,” pointing out that “the stenosis or the imposition of conditions and interventions or dictations are things that can not be accepted, which is unacceptable,” stressing that “the IMF international, said he wanted to help Iraq without conditions, we welcome them. ”
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wmawhite (Dinar Guru) – Article: “Urgent .. Iraq gets a financial certificate enables him to deal with international banks with high confidence” To me, it implies that previous to this action…Iraq (CBI/its banks) were unable to deal with international banks. so, now they can? This implies, yes, now they can. This implies change…is this part of the process of entering the economy markets? i think it is quite reasonable to assume so. [Won’t this be also a chance for the dinar to international now?] technically…the dinar is international…it is the currency of a sovereign country…it is already accepted by other countries too, such as India. But, what you may be asking about, once the IMF gives its “Good House Keeping Seal of Approval”…Artice 8, more countries will agree to accept/exchange the IQD as part of Iraq settling foreign remittances.
Read More: http://www.dinarupdates.com/observer/
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We have reached an agreement with the Kurdistan Region to open the central bank in Arbil
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BGG (Dinar Guru) – based on their NEED… (according to Alak) – they would benefit great from a “value enhanced” Dinar. Their internal purchasing power would be greater – just like your and mine. they are pointing out… in a vague sort of way, they don’t need USD – they need more Dinar, a more powerful Dinar because they need purchasing power in their own country – for their own projects.Simple. …they are almost shouting “THEY NEED VALUE”… do you think they would achieve value and withhold it from the world?
Read More: http://www.dinarupdates.com/observer/
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Abadi: The government has planned a strategy to face the economic challenge
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wmawhite (Dinar Guru) – there are soooo many indicators out here that gives us reason to believe the IMF knew what it was speaking about… All of this activity shows me that Iraq is moving further and further along in the process of entering the economy markets …and the effect of all of this activity will be a change in the status of the IQD as to how the world markets deal with the CBI and it’s banks…
Read More: http://www.dinarupdates.com/observer/
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Federal Court calls on the parties to the appeal proceedings Bgelsta Parliament to provide answers in 15 days
[Oan- Baghdad] The Federal Supreme Court issued Tuesday, a letter to all parties to challenge the constitutionality of two sessions of the House of Representatives meetings, lawsuits last month to provide their answers in accordance with legal terms in order to be resolved as soon as possible, stressing that its going to be open for all, including the public.
The spokesman for the judiciary Judge Abdul Sattar Bayraktar said in a statement received by all of Iraq [where] a copy of it, that “the Federal Supreme Court met in its entirety today, and decided to address a letter to the parties held on 13 and 16 of the last month, suits, regarding the appeal the constitutionality of two sessions of meetings, the House of Representatives last month. ”
He said Bayraktar, that “the parties to the lawsuit and sent them all the notifications in accordance with the provisions of Article [2 / I] of the Rules of Procedure of the Court of the Supreme Federal No. 1 for the year 2005,” noting that “this article stipulates [of the lawsuit and documents to the discount needs to be answered liberation during a period not exceeding 15 days from the date of notification. ”
And between, “The court called upon all the parties and their agents answer on what was in these cases and provide what they have all the means within the period specified in that article to prove the allegation or exile.”
He pointed out that “actions come in order for the court to set a date for the defense in these proceedings, which will be public meetings for all parties to lawsuits and their agents and the public wishing to attend and then resolve claims under the provisions of the Constitution and the laws and regulations in force as soon as possible.”
Bayraktar stressed that this comes “in recognition of the circumstances that Iraq is going through and the commitment of the specific responsibilities of the Federal Supreme Court in the Constitution, laws and regulations.”
The Federal Supreme Court has announced the receipt of last Thursday, lawsuits to challenge the constitutionality of the two sessions of the House of Representatives sessions held in the month of April.
Thanks Bobby!! – https://www.facebook.com/groups/571383766355188/
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For a peek at all the most up-to-date DU News – check the Iraq News Thread (in the forum)…
http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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On the Keywords: We have reached an agreement with the Kurdistan Region to open the central bank in Arbil
The governor of the Iraqi Central Bank, on the Keywords, in an exclusive interview with Roudao Media Network, the central government held talks with the Prime Minister of the Kurdistan Region, Nechirvan Barzani, was agreed to open a central bank in the Kurdistan Region has all the requirements and specifications, and to be part of the bank CBI, pointing out that the Kurdistan region has the right to obtain 17% of the foreign loans obtained by Iraq.
The following is a transcript of the interview:
Roudao: What is the role of the central bank in solving the current economic crisis?
On the Keywords: the central bank represents a fundamental pillar of economic policy in the country, along with fiscal policy, and since the country’s resources have dropped significantly, and in particular since 2015, played a central bank and still plays an important role in trying to overcome the current financial crisis, through his purchase of treasury transfers issued by the Ministry of Finance and purchased by banks, the central bank re deducted, which now stood at more than 12 trillion dinars, as well as the Central Bank allowed the use of 50% of the bank’s reserves has to buy money orders, with an estimated up to 4 trillion dinars.
Roudao: Is the central bank distract from the reserves at the moment?
Keywords: central bank banned it according to the law that will provide loans to the government, but the central bank can buys money orders or bonds from the secondary market, not from the government directly, that is, when there are money orders issued by the government purchased by banks, can the central bank rediscount, because of the great financial crisis, the banks can not cover all of these transfers continuously.
Roudao: Is the central bank managed to put up securities to obtain financing and bridging the budget deficit?
Products: There are two types of bonds, including the State Department, which tried to Iraq last year promote them outside the country, but Iraq ran into the problem of high interest rates on these bonds, reaching more than 11%, the point of the central bank’s view is not to go into it, because of rising interest rates , and Iraq does not need a dollar, but in need of the Iraqi dinar, because most expenditures in the state budget covers the dinar, so it was our proposal to resort to the local national bonds in Iraqi dinars, which have the benefit of the citizen and covers the need Dinars nor endured high benefits, has recently been agreement to begin offering these bonds.
Roudao: Do you have to put up securities in the global markets for future plans?
Keywords: Yes, after the United States and the World Bank has given the possibility to do to guarantee part of the bond, and when it will land benefits dramatically, at that time we can issue bonds in the international markets, the size of the bond is currently before a start is two billion dollars, and if he could Iraq that the process of market interest rate is suitable, you may think to continue asking other bonds also Bmiliran, and whenever possible, depending on the interest and the conditions and duration.
Roudao: What is the reason for the instability of the Iraqi dinar?
Keywords: reserve central bank is affected by spending the government directly, and if the government is spending more than revenues, the borrowing process to cover the deficit, and this borrowing, which reached today to the large sums of money meant indirectly is pumping cash into the market, there are other factors influenced by exchange rate , a juvenile political and security developments, the situation of stability has a direct impact on exchange rates, and watched the dinar exchange rate in recent instability, where he gave a letter in which a kind of anxiety and fear for the Iraqi people.
Roudao: What is the latest information about your dealings with the International Monetary Fund and World Bank, and what is the size of the loans granted to Iraq?
Keywords: a while ago and the Finance Ministry and the central bank hold in-depth talks with the International Monetary Fund, the search mechanism and conditions of loans, Mtaattlebatt the International Monetary Fund and the conditions are the same orientations of the Iraqi government, because the government is trying to reform public finances of the state structure through the rationalization of expenditures, increase revenue, with maintain employees’ salaries, but the contrary, the IMF wants to emphasize that the Iraqi government does not affect these expenses.
Roudao: What is expected to be granted by the International Monetary Fund for Iraq in 2016 amount?
Keywords: Iraq is expected to happen this year at $ 7 billion, or more than that, at present there are international approach to support Iraq, They are determine these amounts based on the accounts relating to Walkers financial situation, and may be moving in the circumstances, but in principle in the next two years could be that Iraq gets $ 15 billion, and these amounts can say that they have become almost certain.
Roudao: Are there any plans to give a portion of the loans to the Kurdistan Region?
Keywords: agreement, which happened with the Kurdistan Region within the state budget, is to take the region of 17% of total expenditures, so these loans and get it Iraq, as well as bonds, are included in it, because this total expenditure by Iraq, originally came from these loans and certainly the region’s share exist, because Iraq whenever the amount spent is the region’s share of 17%, and if Iraq got the loans and grants for the purposes of spending, when it’s share of the Kurdistan region to be 17% of the total spending.
Roudao: Do you expect to reach the Kurdistan Regional Government to deal with the Iraqi government on the public budget?
Keywords: I got in the recent period some contacts mission between the Kurdistan Regional Government, the federal government, and there is a tendency and desire to solve problems related to, but recent political circumstances had a negative impact on the continuation of the negotiations, and we hope in the coming days to resume talks between the federal government and the Kurdistan Regional Government, and to reach an agreement satisfactory to both parties.
Roudao: How would you describe the relations between the Kurdistan Regional Government and the Iraqi government in the economic field, and what is the level of your dealings with the banks of the Kurdistan Region?
Keywords: central bank being meetings with the Kurdistan Regional Government at a very high level, in order to be the central bank’s real role in the region, including helping to found the banking sector development and support of financial institutions, and provides a legal, financial, and regulatory and supervisory cover is very important, and this hurt mainly the first is in the interest of the Kurdistan region, nor can any geographical area that the banks operate without there being a central bank have linked the presence of these banks, and can deal through it.
Roudao: Do you confess banks in the territory of Kurdistan and do you consider within the branches of the Central Bank?
Keywords: branches found within the territory of Kurdistan present their situation does not represent a part or a branch of the Central Bank of Iraq, and this confuses the work and does not help the region that provides the proper framework for the briefing to operate the banking and financial institutions in the Kurdistan region, so we had talks with the Prime Minister of the Kurdistan Region, Nechirvan Barzani, and we agreed that there is a real central bank in the Kurdistan region, and to be part of the Central Bank of Iraq, and has all the requirements and specifications, currently we do the detailed procedures relating to this trend.
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CURRENCY CODE SELL BUY
Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1333.178 | 1332.511 |
| British pound | GBP | 1711.772 | 1710.917 |
| Canadian dollar | CAD | 914.295 | 913.837 |
| Swiss franc | CHF | 1201.708 | 1201.107 |
| Swedish krona | SEK | 142.604 | 142.532 |
| Norwegian krone | NOK | 143.685 | 143.614 |
| Danish krone | DKK | 179.257 | 179.167 |
| Japanese yen | JPY | 10.791 | 10.785 |
| Special Drawing Rights |
SDR | 1664.445 | 1663.613 |