The Dinar Daily, Tuesday June 16, 2015
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  1. #1

    The Dinar Daily, Tuesday June 16, 2015

    CENTRAL BANK OF IRAQ

    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000


    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000
    Euro EUR 1308.019 1307.365
    British pound GBP 1807.067 1806.163
    Canadian dollar CAD 946.198 945.725
    Swiss franc CHF 1249.196 1248.572
    Swedish krona SEK 141.930 141.859
    Norwegian krone NOK 150.140 150.065
    Danish krone DKK 175.344 175.256
    Japanese yen JPY 9.443 9.438
    Special
    Drawing Rights
    SDR 1637.530 1636.712

    Indicative rates - (as of) 16.06.2015


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2972- most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 15/06/2015 results were as follows:

    DETAILS NOTES
    Number of banks 21
    Number of remittance companies 3
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 155,229,946
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 155,229,946
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-17-2015 at 11:15 AM.



  2. #2

    Re: The Dinar Daily, Tuesday June 16, 2015





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:


    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:


    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.


    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.



    The Republic of Iraq – Ministry of Planning

    and

    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.


    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.


    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.


    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…


    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??


    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.


    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”


    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??


    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.





    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________

    AND

    Coins put on the market !!



    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts

    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

    ARTICLE LINK

    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters



    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.

    http://articles.latimes.com/1991-03-..._kuwaiti-banks


    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,
    Kevin

  3. #3

    Re: The Dinar Daily, Tuesday June 16, 2015

    Cabinet to vote on the amnesty law and transmits it to Parliament



    Long Presse/Baghdad The Cabinet approved on Tuesday, the general amnesty law and referred it to the parliament not his decision.

    A statement by the Council of Ministers received a (long-Presse) a copy of it, that "the Council of Ministers held its regular chaired by Prime Minister Haider al-Abadi and the majority decided to approve the draft of the amnesty law and referred it to the parliament for the purpose of Agherarah".

    The general amnesty law of the most important political program which was agreed upon between the political blocs to form the Iraqi government last September items.

    The Iraqi Council of Representatives passed a law in 2008 for freed under amnesty for thousands of prisoners at the time, but he met with a wide range of objections by some political parties being contributed to the release of some of the leaders of al Qaeda in a timely manner

    http://www.almadapress.com/ar/news/50205/%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D9%8A%D8%B5%D9%88%D8%AA-%D8%B9%D9%84%D9%89-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%B9%D9%81%D9%88-%D8%A7
    Last edited by pinkadonai1; 06-16-2015 at 11:39 AM.

  4. #4

    Re: The Dinar Daily, Tuesday June 16, 2015

    Abadi, head to Iran tomorrow to discuss the war on "terrorism"



    Long-Presse / Baghdad international efforts to address the organization (Daash Announced the Office of the Prime Minister Haider al-Abadi, on Tuesday, the last traveled to Iran on Wednesday, while attributed the reason for the visit to discuss common issues and the war on "terrorism" and Ebadi said Office in a statement received (range Press) copy of it, "the Prime Minister Haider al-Abadi go tomorrow, Wednesday, to the Islamic Republic of Iran at the official invitation to visit the one-day talks with a number of Iranian officials, led by Leader of the Islamic Republic Ali Vand".

    The statement added that "the visit will discuss a number of issues of common interest and bilateral relations between the two countries and the regional situation and the war on terrorism and international efforts to counter the gangs (Daash terrorist)".

    The organization (Daash) controls large areas of Anbar, (110 km west of Baghdad), since more than a year, and that the security forces and tribesmen are trying to address it.

    It is noteworthy that Iraq and Iran have signed, in Monday (16-2-2015), several memoranda of understanding and agreements in various fields, notably the industrial, agricultural and commercial aspects, while
    the agreements were signed within the enlarged meeting of the Iraqi - Iranian Joint Committee.

    http://www.almadapress.com/ar/news/50203/%D8%A7%D9%84%D8%B9%D8%A8%D8%A7%D8%AF%D9%8A-%D9%8A%D8%AA%D9%88%D8%AC%D9%87-%D8%A5%D9%84%D9%89-%D8%A5%D9%8A%D8%B1%D8%A7%D9%86-%D8%BA%D8%AF%D8%A7-%D9%84%D8%A8%D8%AD%D8%AB-%D8%A7%D9%84










    Last edited by pinkadonai1; 06-16-2015 at 11:31 AM.

  5. #5

    Re: The Dinar Daily, Tuesday June 16, 2015

    Call demanding infallible authorized Maliki to sign the death sentences and longer delay "constitutional violation"



    Long-Presse / Baghdad Called Dawa bloc in the Iraqi parliament, on Tuesday, Fuad Masum, President of the Republic to ratify the death sentences against the "terrorists", and asked him to authorize his deputy with Nuri al-Maliki to ratify it, I promised to delay the ratification of death sentences "unconstitutional".

    The head of the Dawa bloc behind Abdul Samad Khalaf, said in an interview to the (long-Presse), "we call upon the President of the Republic Fuad Masum, the speedy ratification of the decisions of the death sentences against the terrorists who were involved with the blood of Iraqis or authorize his first deputy Nuri al-Maliki, the process of ratification."

    Khalaf said "The authentication process difficult to this extent, the lack of approval of these provisions is a violation of the Constitution can not be tolerated never," pointing out that "the decisions made by the judiciary without ratification by the President of the Republic, which is in itself a disappointment the Iraqi people toward the boss who swear to preserve the unity of the country and its constitution. "

    The coordinated foreign policy in the European Union Catherine Ashton expressed, in (26 March 2013), concern about the implementation of the death penalty in Iraq, and stressed that the EU "is opposed to the death penalty and Iraq realize it," while the Iraqi government called for "the abolition of those final punishment. "

    Amnesty International has returned and launched, in (the 11th of March 2013), an attack on the current system of government in Iraq, he stressed that "cases of torture in prisons are still continuing in spite of ten years after the fall of Saddam Hussein's regime," while the Iraqi authorities called " put an end to this terrible episode of violations and a moratorium on executions first on the road to the abolition of the death penalty as a step. "

    And re Baghdad work on the implementation of the death penalty in 2004, after it was the death penalty hanging over the period that followed the entry of US troops to Iraq, and allow the Iraqi judiciary to the death penalty in about 50 crime, including terrorism, kidnapping, murder, and also include other offenses such as damaging facilities and public property .


    http://www.almadapress.com/ar/news/50202/%D8%A7%D9%84%D8%AF%D8%B9%D9%88%D8%A9-%D8%AA%D8%B7%D8%A7%D9%84%D8%A8-%D9%85%D8%B9%D8%B5%D9%88%D9%85-%D8%A8%D8%AA%D8%AE%D9%88%D9%8A%D9%84-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%83%D9%8A-%D9%84

  6. #6
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    Re: The Dinar Daily, Tuesday June 16, 2015

    Parliamentary Finance: private banks the main reason for the collapse of the dinar exchange rate



    BAGHDAD / Baghdadi News / ... revealed the parliamentary finance committee member Masood Haider, on Tuesday, on the reasons for the high dollar, and the collapse of the dinar exchange rate, was reduced because of the state to deal in dollars as well as the existence of banks to prevent the descent of the Iraqi currency market to increase profits.

    Haider said in a statement to / Baghdadi News /, that "many reasons called for a rise in the dollar price of the most important of the existence of community banks backed by influential politicians from the state works to prevent the descent of the dollar to the Iraqi market and take advantage of the rise to increase their profits."

    He added that "the existence of large war on terror and guerrilla Daash which need large sums of money in addition to reducing the dealing in the dollar and the accompanying drop in oil prices and revenues of the government," noting that "other reasons is not to rely on investment projects in the country."

    He said the Kurdistan Alliance MP that "the current 2015 budget that confirmed in a legal clauses specify the CBI sales to $ 750 million per day, which also led to a scarcity of hard currency in the Iraqi market," .anthy 21 / m

    http://www.albaghdadianews.com

  7. #7
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    Re: The Dinar Daily, Tuesday June 16, 2015

    Attorney Ihsanoglu describes the perpetrators of the dollar rise in Iraq Baldaahien



    {Baghdad: Euphrates News} described the decision of the House of Representatives MP for the Bloc citizen Niazi architecture Ihsanoglu, on Tuesday, what he called Palmzbban Bartvah US dollar prices in Iraq to "Daash".
    Ihsanoglu said told the News} {Euphrates today that "the perpetrators of the high dollar exchange rate no less a degree of seriousness Daash of Iraq," calling on the central bank to "reconsider his policy before the monetary crisis deepens."

    Economists local described, today, the surge in the US dollar exchange rate as artificially to several factors, most notably, a major mafias dominate the Iraqi market and corporate speculation, calling for the central bank to cancel the auction, to develop a transition period to measure the performance of banks under revocation does constitute a successful him a substitute.

    And witnessing the US dollar exchange rate an unprecedented rise in front of the Iraqi dinar exchange rate, Maspb concern among traders and citizens and the latest damage to the Iraqi people as a result of higher commodity prices, local goods in and Alsoq.anthy

    http://wwww.alforatnews.com

  8. #8
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    Re: The Dinar Daily, Tuesday June 16, 2015

    Urgent Aajl..cil ministers vote on the draft general amnesty law and forward it to the House of Representatives



    {Baghdad: Euphrates News} cabinet voted on Tuesday on the draft of the amnesty law and referred it to the Council Alnwab..itba ..

    http://wwww.alforatnews.com

  9. #9
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    Re: The Dinar Daily, Tuesday June 16, 2015

    Deputy for the citizen demanding the central bank diversification traded currencies for the elimination of the high price of the dollar



    {Babylon: Euphrates News} MP on the mass of Mohammed Ali al-Masoudi, on Tuesday, the central bank diversification in foreign currencies pump to the domestic market to reduce the monopoly of the dollar with traders and owners of banking offices.

    He said al-Masoudi told {Euphrates News} today that "the central bank performing procedures quick to stop the Iraqi currency deterioration against the dollar, which make way for banks to enter the market sell the currency and restore 14 Bank were withheld from access to the market in addition to the payment of the private sector to contribute to trade different types of foreign currencies and reduce dependence on the dollar. "

    He added that "there is a hidden attempts to destroy the local economy and the marginalization and the destruction of the middle class, which is considered the foundation in buying and selling movement in Masoudi local market threatened to who is behind this economic political game, which is a new war against Iraq by force and account difficult."

    With the holy month of Ramadan, the US dollar rose to 140 000 dinars, which led to higher food prices and luxury in the pan Mahafezat.anthy 20

    http://wwww.alforatnews.com

  10. #10
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    Re: The Dinar Daily, Tuesday June 16, 2015

    Wasit received 12 billion dinars from the budget allocations



    The amount is part of the budget development of the regions 125 billion dinars, as well as the petro-dollar revenues of around 95 billion dinars, and thus reached only 10% of the financial benefits the development of regions within budget.

    BAGHDAD / Obelisk: governor of Wasit owner behind the announced Valley for the arrival of funds from the central government are estimated at 12 billion dinars and a half billion in the development of regions allocations for 2015 and said the valley in a statement to the local media, and pursued "obelisk" "The amount is part of the development of the regions budget 125 billion dinars, as well as the petro-dollar revenues of around 95 billion dinars, and thus reached only 10% of the financial benefits in the development of the regions budget. "

    He added Valley that "after studying the financial benefits for companies operating in the province has been the distribution of funds hyphen By the date of installation of the advance in try to be fair because the distribution companies and the inclusion of the largest number of companies that have the financial maturity of the government solve their financial problems. "

    http://almasalah.com/ar

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