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Iraqi Dinar/Dollar auction (most recent listing) 05-22-16
Currency Auctions Announcement No. 3203
This daily currency auction was held in the Central Bank of Iraq on the 05-22-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 25 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 122,419,114 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 122,419,114 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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Quality is not an act, it is a habit.
— Aristotle
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RCookie synopses for Sunday afternoon…
rcookie: PARLIAMENT
DAWA PARTY HEAD ALI KEYWORDS ASSERTS NEXT PARLIAMENT SESSION WILL VOTE ON TECHNOCRATS…PRESIDENT NATIONAL UNION KURDISTAN BLOC AL TALABANI COMMITS TO ATTEND NEXT PARLIAMENT SESSION…BARZANI MEETS WITH SITTERS FACTION AND DESCRIBES POSITIVE MEETING ON THE NEXT PARLIAMENT SESSION…DAWA PARTY LEADERSHIP CALLING FOR “IRON FIST RESPONSE TO DEMONSTRATOR VIOLATORS OF STATE PROPERTY & INSTITUTIONS…JABOURI TURNS DOWN OFFER TO CONDUCT PARLIAMENT SESSION IN ERBIL PROPOSED BY STATE OF LAW & MALIKI…RAPPORTEUR OF PARLIAMENT STATES PARLIAMENT SESSION CAN CONVENE WITHOUT FEDERAL COURT RULING…PATRIOTIC UNION KURDISTAN ANNOUNCES COMMITMENT TO ATTEND NEXT PARLIAMENT SESSION… SO THE COMMITTEE ABADI USED TO CHAIR ON ECONOMY & INVESTMENT…ANNOUNCES FORMATION OF GROUP WITH EXECUTIVE AUTHORITIES TO RECONSIDER ECONOMIC POLICIES OF THE STATE &CURRENT BUDGET EXPENDITURES…BOLANI STATED THE MINISTRY OF FINANCE WILL PERIODICALLY REVIEWS BUDGET SPENDING EVERY 90 DAYS (DIFFERENT THAN EXISTING BUDGET LAW)…AUDIT OF GOV’T SPENDING AND ABILITY TO INCREASE LOCAL REVENUES AND DRIVE AGRICULTURAL & INDUSTRIAL LOANS & BUSINESS…THE TEAM INCLUDES MEMBERS OF FINANCIAL & ECONOMIC COMMITTEES…MINISTRY OF FINANCE…CBI…AND THE FINANCIAL CONTROL BUREAU…(AND REMEMBER WHO IS OVERSEEING THAT..HINT..IMF)…AND THE TEAM PREPARING A PLAN OF STRATEGY FOR ECONOMIC CHALLENGES..ECONOMIC POLICIES & REPORT TO PARLIAMENT…ABADI OFFICE RENEWS CALL FOR RESUMPTION OF PARLIAMENT SESSIONS…
rcookie: SECURITY
20,000 ISF ARRIVE ON OUTSKIRTS FALLUJAH IN PREPARATION FOR STORMING IMMINENT…FALLUJAH RESIDENTS EVACUATING CITY IN ADVANCE OF ISF APPROACH FOR ISIS LIBERATION CAMPAIGN…STREETS LEADING TO TAHRIR SQUARE REOPENED INCLUDING BRIDGE…PARLIAMENT SECURITY ADDS COMMANDER BAGHDAD OPERATIONS AND SOON HOST ALL SECURITY LEADERS…PESHMERGA CALLING FOR CHEMICAL WEAPON PROTECTION SUPPLIES AFTER REPEATED USE BY ISIS ATTACKS.. CIVIL DEFENSE HEADQUARTERS REOPENS IN WETLANDS….F16’S BOMB ISIS BOOBY TRAPPING COEFFICIENT HEADQUARTERS IN FALLUJAH…ISIS CONTINUES THREATS TO ATTACK HEAVILY POPULATED EUROPEAN MEDITERRANEAN BEACH RESORTS DURING RAMADAN…66 ISIS ELEMENTS KILLED WESTERN FALLUJAH…18 ISIS ELEMENTS KILLED NINEVEH & 15 KILLED IN MOSUL…
rcookie: BUSINESS/FINANCE/ECONOMY
CURRENCY AUCTIONS AT $122 MILLION…IRAQ ANNOUNCES 3RD EXPORT SHIPMENT OF GAS CONDENSATE (C5) FROM SOUTHERN PORT…OBAMA PRAISES ABADI & IRAQ SBA DEAL WITH IMF & TELEPHONE FOR REFORM STATUS…APRIL INFLATION RETRACTS 0.1% WHILE ANNUAL UP TO 2.1% ANBAR, NINEVEH, SALAHUDDIN PROVINCES NOT INCLUDED IN DATA…RAFIDAIN BASRA BRANCH DIRECTOR SENTENCED TO 3 YEARS FOR ILLEGAL LOAN DISBURSEMENT(9 BILLION DINARS) ARTICLE 340 PENAL CODE & RECOVERY OF FUNDS INVOLVED…KURDISTAN AND IRAN SIGN 47 AGREEMENTS OF TOURISM CONTRACTS WITH TRAVEL AGENCIES TO BRING TOURISTS TO IRANIAN KURDISTAN…
rcookie: GENERAL
ABADI OFFICE STATES INVESTIGATION ON DEMONSTRATOR VIOLENCE REVEALS ABSENCE OF DIRECT FIRE ON DEMONSTRATORS & WILL PURSUE VIOLATORS JUDICIALLY…MINISTRY OF EDUCATION REVEAL 514 CERTIFICATED FORGED DURING CURRENT YEAR… DEPUTY US AMBASSADOR JONATHAN COHEN MEETS WITH MALIKI DISCUSS SECURITY & HUMANITARIAN & MILITARY BI LATERAL SUPPORT…”RED CRESCENT” IRAQ’S EQUIVALENT RED CROSS UNDER MICROSCOPE OF FUNDS AND RESTRUCTURE AWAITS ABADI DECISION…PESHMERGA DELEGATION MEETS WITH FRENCH PRESIDENT HOLLANDE…BORDER CROSSING DIRECTORATE & INTEGRITY COMMISSION DECLARES READINESS FOR TREBIL REOPENING AND NEWBORN STATUS TO WORK…SADR BEING DESCRIBED AS DONALD TRUMP OF IRAQ IN NEWSPAPERS…APRIL SALARIES TO BEGIN DISTRIBUTION FOR KURD REGIO NEXT WEEK…IRAQ CALLS FOR JORDAN TO EXTRADITE CRIMINALS AND INCLUDES SADAAM DAUGHTER RAGHAD HUSSEIN…ABADI STATES “WE DON’T HAVE THE MONEY TO REBUILD RAMADI”…
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Iraq received the first of the beginning of July the international loan installment
Financial Advisor to the Prime Minister announced the appearance of Mohammed Saleh, said Iraq will receive the first batch of early next July, the international loan, which is not less than six hundred million dollars.
Saleh said that the total amount of the loan of $ 5.4 billion, pointing out that he payout in the form of thirteen batch, thus indicating that the type of loan to be accessible and with few benefits of up to 1.6%.
Saleh pointed out that the disbursement of the loan will be made in many ways the main ones relate Palmhmolin subsidies and social care as well as investment projects, pointing out not to prejudice the ration cards and the amounts of the displaced.
He said that for the benefit of Basra on a special loan of half a billion, was one of the tasks of the IMF mission to Iraq, with respect to a share of the Kurdistan region of the loan, it will be according to the Iraqi Constitution without specifying further details.
The International Monetary Fund had recently agreed to lend Iraq $ 13 billion to meet the financial needs.
And the impact of falling oil prices on global markets since June 2014, largely on the Iraqi economy, which relies on oil to finance more than 90% of state spending, as well as the large costs of the war against the terrorist organization Daash.
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wmawhite (Dinar Guru) – Quote: “Direct: agency Fitch Ratings said Friday that Iraq has an agreement with the IMF will open the way to get more international support and the possibility of issuing bonds to global markets.” issuing bonds to global markets. Folks…this is Fitch talking about Iraq (CBI) entering the global bond market. And who is Fitch? “Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data…With dual headquarters in London and New York, Fitch Group is majority owned by Hearst…” On those bonds…having them backed by other countries makes them a sure thing…6% to 8% on multiple millions is sweet. IMO…the gears on this thing are a turning…all of this activity will be a change in the status of the IQD.
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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rcookie (Dinar Guru) – …JUST LIKE THE 2010 CUSTOMS TARIFFS EVERYONE QUESTIONED AND DOUBTED…THE $2 BILLION EUROBOND PROGRAM WAS NEVER AN OPTION…IT WAS AND IS 100% EXECUTING…IT IS IN THE EXISTING 2016 BUDGET…AND IS NOW EVEN MORE CERTAIN THAN EVER BECAUSE THE BONDS HAVE BEEN GUARANTEED BY THE US GOV’T…AND THE 2016 BUDGET IS 100% EXECUTABLE…WITH EXCEPTION!!
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) – 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…IMO, there has been a change in the status of Iraq within the international financial community…and why do I state this? Because…articles are talking about it…
Read More: http://www.dinarupdates.com/observer/
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“Economy News” published details of Iraq ‘s agreement with the International Monetary Fund
Economy News / special
An informed source at the Ministry of Finance, on Sunday, details of the agreement concluded by Iraq with the International Monetary Fund.
The source for “Economy News” that the agreement provided for the granting of a loan exceeds the initial $ 5 billion, with the following text of the Convention:
First, the general details
1 – that this agreement is not the first, was preceded by two agreements: one in 2005, and the settlement of Iraq’s obligations with creditors in the Paris Club, and the other in 2008, to address the repercussions of the sharp decline in oil prices at the time.
2 – the value of the loan is 5.4 billion (billion) dollars.
3 – The interest rate on this loan does not exceed 1.5% per annum.
4 – assumed that this loan helps to strengthen the creditworthiness of Iraq, and raise the credit rating, the building “umbrella financial | pave the way for the establishment of the seven major industrialized nations (G7) to provide credit facilities for Iraq amounts could reach more than $ 15 billion. Among these facilities helping Iraq to ease the burden of repayment obligations with the Paris Club, as well as those relating to the payment of international financial obligations. Add to receiving additional financial support from the World Bank, and other countries.
5 – that this loan will help reduce the “extra” in the state budget, the impact of the drop in oil prices, and to follow the procedures help reduce the deficit “total” deficit (ie the total deficit) in the state budget.
Second requirements
1 – that the Iraqi government to take necessary measures to reduce expenditure in the state budget for fiscal year 2016.
2 – take measures to settle the dues of oil companies, and do not let Petrakmha.
3. full salary and allowances for senior subordinate state employees, functional upper grades, and private, to income tax. These range from tax (according to different income segments) between 7.5% to 15% of the total salary and allowances. As for the lower grades, they impose income tax on only the nominal salary, without benefits.
4 – rehabilitation (or restructuring) self-funded public companies.
5. work hard to raise the efficiency and performance of the financial regulatory agencies in the country, at all levels. And impose strict controls on the doors of disposition of this loan.
Third, other information.
1 – There are controls for the collection of public service wages, to take into account the living conditions of low-income people.
2 – will not raise fuel prices (fuels), because oil prices are currently low, and because existing prices are rewarding for the government.
2 – There is no requirement laid off workers in the government sector.
3 – There are no conditions permit stamped on the ration cards, nor salaries of social protection network, and not government subsidies provided to the displaced.
From the above, the social costs are difficult to this Agreement, are those associated with the repercussions of negative to cut public spending (in the absence of almost entirely of institutions capable of allocating available the best possible ways and means of economic resources, and the lack of the ability to pursue a management efficient public money) .. and also those costs associated with the taxation of the salaries of all employees.
As for how to dispose of the amount of the loan, check spent on the purposes for which has been allocated for it originally, and achieve the main objectives of it, the burden of implementation and follow-up in question, it will be the responsibility of the international parties involved and supportive of this agreement (basic degree), and not the responsibility of the Iraqi government alone.
The Finance Minister Hoshyar Zebari announced that, in the (May 19), to reach an agreement with the World Bank Fund for a loan worth $ 5.4 billion, and as pointed out that the loan will allow securing additional financial assistance to reach about $ 15 billion over the next three years, confirmed the governor CBI, on the Keywords that the annual interest rate of the loan is up to 1.5%.
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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.
Read More: http://www.dinarupdates.com/showthread.php?34538-Keywords-We-have-reached-agreement-with-Kurdistan-Region-open-central-bank-in-Erbil
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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 | 1323.485 | 1322.824 |
| British pound | GBP | 1729.975 | 1729.110 |
| Canadian dollar | CAD | 901.189 | 900.739 |
| Swiss franc | CHF | 1194.663 | 1194.066 |
| Swedish krona | SEK | 141.542 | 141.471 |
| Norwegian krone | NOK | 141.408 | 141.337 |
| Danish krone | DKK | 177.969 | 177.880 |
| Japanese yen | JPY | 10.739 | 10.733 |
| Special Drawing Rights |
SDR | 1662.388 | 1661.557 |