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) 07-18-16
Currency Auctions Announcement No. 3241
This daily currency auction was held in the Central Bank of Iraq on the 07-18-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 16 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 159,044,052 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 159,044,052 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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Small minded people believe you are rejecting morality when you reject their visions of morality. – Will Spencer
*** Current News ***
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Don’t MISS – “DU NEWS TIME” w/RCookie and Mr White in DU CHAT ROOM – Monday 7:30pm EST
www.DinarUpdates.com – save as favorite!
Aggiedad77 (Dinar Guru) – Article: “Distribution of financial grants to displaced families in Babylon” I’m surmising here that the “instrument” for distribution of these funds to the families is likely some kind of card…electronic card…for protection of all involved…another positive sign of good things already in the works…patience…the BEST is yet to come.
Read More: http://www.dinarupdates.com/observer/
A public hearing to vote on a legal Federal Court, amnesty next week (details)
Orbit News – Parliamentary Legal Committee, announced on Monday, the Federal Court for legal inclusion of general amnesty to vote on the parliamentary agenda next week, indicating that the vote will be made public.
The committee member said Ibtisam al- Hilali in a press statement, that ‘the House of Representatives plans to vote on important laws that serve the Iraqi people directly and there is a consensus in parliament on it’, adding that ‘ the National Guard Law by major differences and it is difficult to pass in the coming period. ”
And it showed Hilali said ‘next week will vote on the legal and amnesty of the Federal Court, but federal law requires the presence of a third of the members of the House of Representatives and the quorum is difficult to achieve’, adding that ‘parliament speaker promised to broadcast the vote on the federal law, amnesty in public hearing in order to know the Iraqis of the political forces that refuse to vote. ‘
Dinar Updates “The After Call” – LIVE!!
“Immediately following News Time!!”
from 7/18 – LIVE CALL w/Q&A!!
from 7/13 – Smart phone user link – Click here
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Iraq sells more than 400 billion dinars from the treasury of the forward sale of two banks
Twilight News / Iraqi Central Bank announced the sale of more than 400 billion Iraqi dinars, two banks, the sale of treasury-term, after approval from the Ministry of Finance in this regard.
According to a statement of the bank responded to the Twilight News, he ended sive attempts sale of $ 4 billion and twenty million Iraqi dinars and the highest rate cut competitive Bmzaadat (400%) and Tamost yield of 400%.
He added that the number of Almhakerin reached four, and won by two banks in addition to the care of minors and body National Pension Department.
The Iraqi Finance approved a public auction for the sale of remittances Dzenh for 364 days and $ 400 billion dinars.
Read More: http://www.dinarupdates.com/showthread.php?37177-Iraq-sells-more-than-400-billion-dinars-from-treasury-of-forward-sale-of-2-banks
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wmawhite (Dinar Guru) – …Maliki still leads a political bloc, all though a minor bloc. Think of a political bloc as an union. A political union within the Iraqi Parliament. If you understand this, it is very understandable that the head of a bloc/union will always be negotiating with other political blocs as well as their leaders. This is life…it is the way their political life runs from day to day.
Read More: http://www.dinarupdates.com/observer/
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rcookie (Dinar Guru) – PARLIAMENT TODAY…VOTED IN PRESENCE OF 236 DEPUTIES…SALE & LEASE OF STATE PROPERTY LAW NO. 21 (2013) AS WELL AS PLANNING FOR COMMITTEE TO AMEND CONSTITUTION…1ST READING ON 5 BILLS AS WELL AS DISCUSSION TO LIFT IMMUNITY FOR 9 MP’S…17 TOTAL MP’S BUT 8 HAVE RETIRED AND NO LONGER HAVE IMMUNITY…LEGAL AFFAIRS COMMITTEE WILL DECIDE WITHIN 2 WEEKS…AS WELL AS PURSUIT TO DISMISS MP’S WHO HAVE EXCEEDED ABSENTEE THRESHOLD…ABSOLUTELY HUGE LEGISLATIVE DAY…AND SETTING UP WHAT LOOKS TO BE HUGE LEGISLATIVE WEEK AND SESSION TERM…
Read More: http://www.dinarupdates.com/observer/
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Maliki Legend “electronic army” in the media and is funded by public money
Leaks showed “Integrity Committee” in the Iraqi parliament, that former Prime Minister Nuri al – Maliki , and during the years of his rule eight of the country, pay the monthly salaries of public money to dozens of writers, journalists and activists to bleach his image, and attacking his critics or opponents, as well as broadcast rumors.
According to a senior member of the Committee on parliamentary integrity, Maliki was involved recruiting “letter Army” works in his favor since mid-2009, and until today, he managed both his son and Srah, noting that “the army comprises about 80 journalists locally and dozens of activists on networking sites, were recorded salaries of them withholding of salaries of the Iraqi media network , “pointing out that” a number of members of the integrity Commission filed a report to the Prime Minister Haider al – Abadi contains information on such a large army , which is funded from the state budget. ”
He explained Lists that “about 200 thousand dollars at least, all of the state funds, paid monthly for the benefit of journalists and writers and different personalities as well as activists and officials of the pages to meet Telmaahm Maliki’s image, or to attack opponents of the Sadrist movement, the Kurdistan Democratic Party, headed by Massoud Barzani, and the Union of Iraqi forces and others.
Comes leaks days at the end of the sharp differences between the leaders of the “National Alliance” ruling the country after, was evacuated, “the agency tomorrow Press” Iraqi widespread, details of the cease-Maliki mail army attack on the head of the Iraqi Islamic Supreme Council Ammar al-Hakim build on a truce between the two sides .
The spread dozens of pages and accounts to communicate “Facebook” and “Twitter” sites a number of them the names refer to “support al-Maliki,” and “supporters of Mokhtar Age,” and “supporters of the third term of the owners,” and “Son of Iraq”, and “safety valve” and others, at a time when al-Maliki has five newspapers and three TV stations.
Commenting on the leaks, he said a member of the civil power of the Iraqi Jaafar called for “new Arab” The “electronic army of owners known for years, which is not new at all,” adding that it “is no different from the armies of politicians but it is funded from the general budget of the state and across different covers network media or support efforts or other projects. ”
Talib added that “each political army electronically, but Maliki ‘s army is stronger and wider, where he bought receivables lot of journalists , ” and expressed his belief that “disclosure of such information may be linked to the return of the Cold War between Maliki and the cleric Moqtada al – Sadr and bickering through the media “and urged” the Supreme Judicial Council to intervene and open an investigation into the leaks. ”
Read More: http://www.dinarupdates.com/showthread.php?37194-Maliki-Legend-quot-electronic-army-quot-in-the-media-and-is-funded-by-public-money-7-18
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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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Iraqi dinars are exchanged for dollars at the busy Shorga market in Baghdad, Iraq: a key
priority in the new program is maintaining the exchange rate peg to the U.S. dollar, says IMF (photo: Sabah Arar/REX/Newscom)
Iraq Gets $5.34 Billion IMF Loan to Support Economic Stability
- Iraqi economy faces double shock of lower oil prices, rising security challenges
- IMF loan supports Iraqi government’s economic reform program, ensures debt sustainability
- Program includes measures to protect the poor, curb corruption
The IMF has approved a three-year, $5.34 Billion loan for Iraq focused on implementing economic and financial policies to help the country cope with lower oil prices and ensure debt sustainability.
The loan will be provided under the Stand-By Arrangement facility and also includes measures to protect vulnerable populations—critical in a time of ongoing conflict, which has resulted in over 4 million internally displaced people.
The program builds upon the success of the recent Staff-Monitored Program, which the authorities started in November 2015 to address the double shock of ISIS attacks and the sharp drop in global oil prices, and will help close a financing gap of about $18 Billion.
Speaking to IMF News, Christian Josz, IMF mission chief for Iraq, explains the underlying reasons for the loan and the main goals of the IMF-supported program.
IMF News: Why is Iraq requesting financial assistance from the IMF now?
Josz: Iraq has been hit with a double shock for an extended time period. First, the ISIS insurgency since mid-2014 has created a humanitarian and social crisis that unfolded into millions of internally displaced persons, with destruction to assets and infrastructure leading to disruptions in production and in trade routes. The non-oil economy sharply contracted as a result. Second, the steep fall in global oil prices—on which Iraq depends almost entirely for its government revenue—has made the situation worse, culminating in both internal and external imbalances, large and rising budget deficits and increasing public debt, as well as losses in official foreign exchange reserves and some pressure on the Iraqi Dinar.
As a result, the Iraqi authorities approached the IMF with a request for emergency assistance, and we worked with the authorities to provide emergency financing of US$1.2 billion in July 2015 under the Rapid Financing Instrument. However, the intensification of the two shocks thereafter led the authorities to request a longer-term engagement with us that would not only address the fallout from the crisis, but also lay the ground for long-delayed, deep-seated reforms. In this vein, a staff-monitored program (a program with no attached lending) started in November 2015—at the Authorities’ request—to instill the necessary conditions, and build the required capacity and track record to move to the current Stand-By Arrangement.
IMF News: What are the key policy components of Iraq’s program and how will it help the country?
Josz: The program is designed with a focus on four key elements: reduce budget spending and restore public finances to a healthy state and stabilize debt; protect spending on the social front to ease the lives of the poorest, internally displaced people and refugees; improve the quality of public spending and prevent accumulation of unpaid debt through improvements in public financial management; and begin the process of restructuring state-owned banks to reduce their dominance in the banking system, thereby mitigating financial sector risks and preserving the sector’s stability.
IMF News: How has Iraq’s economy been affected by ongoing conflicts and will this hinder the program’s implementation?
Josz: On the one hand, the non-oil economy contracted by 19 percent in 2015 and is expected to continue to contract in 2016. On the other hand, the oil sector, thus far spared by the ravages of war, grew by 13 percent in 2015 and by more than 20 percent during the first five months of 2016, helping to support the broader economy, critical budget outlays, and official foreign exchange reserves amid the double shock.
While there are risks to program implementation—such as the fight against ISIS, subdued global oil prices, and uncertainty around the budget sharing agreement between the federal government and the Kurdistan Regional Government—the policy responses outlined above will help stabilize Iraq’s economy.
IMF News: Can you explain the significance of maintaining the Iraqi Dinar’s peg to the U.S. dollar?
Josz: Iraq has maintained a peg to the U.S. dollar for years, and it has served the Iraqi economy well. The peg helps provide stability amidst a highly uncertain environment, especially with policy capacity weakened by the fight against ISIS. Under current circumstances and given the nature of the shocks, moving towards more exchange rate flexibility would not be warranted for two key reasons.
First, Iraq is predominantly an oil exporter, and devaluing the Dinar would have minimal bearing on the economy’s overall trade competitiveness. Second, there is a notable degree of import dependence—almost half of Iraq’s consumption needs are imported—and devaluation would immediately trigger a spike in inflation for most food and other consumer goods, which would exacerbate already difficult social tensions. The authorities are committed to maintaining the Iraqi Dinar’s peg to the U.S. dollar under these circumstances, and we support this view.
IMF News: How will the program help protect the poor and internally displaced populations?
Josz: The program has set a floor on a number of budget items that are considered crucial for social spending, with the objective of protecting the most vulnerable. This covers spending directed towards the social safety net, the public distribution system (subsidies on food items, wheat, rice), agricultural product subsidies, transfers and assistance for internally displaced populations and refugees, and spending for salaries and goods and services by the ministries of health and education.
IMF News: What measures could the Iraqi government take now to lay the basis for private sector‑led growth in the future?
Josz: By preserving macroeconomic stability, including debt sustainability, the Iraqi authorities are laying the ground for private sector development. By maintaining fiscal discipline, they will create the fiscal space to pay their suppliers and international oil companies on time, which is essential to maintain financial sector stability and oil production. Furthermore, the authorities can also spur private sector-led growth by restructuring state-owned enterprises—including the six state-owned banks—and prioritizing investment projects, such as in the electricity sector, which will help improve infrastructure development.
http://www.imf.org/en/News/Articles/2016/07/12/14/31/NA071416-Iraq-Gets-IMF-Loan-to-Support-Economic-Stability
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1315.330 | 1314.672 |
| British pound | GBP | 1580.570 | 1579.780 |
| Canadian dollar | CAD | 910.983 | 910.527 |
| Swiss franc | CHF | 1207.478 | 1206.874 |
| Swedish krona | SEK | 139.146 | 139.076 |
| Norwegian krone | NOK | 141.156 | 141.086 |
| Danish krone | DKK | 176.851 | 176.762 |
| Japanese yen | JPY | 11.188 | 11.182 |
| Special Drawing Rights |
SDR | 1647.613 | 1646.790 |