The Dinar Daily, Saturday June 27, 2015
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  1. #1

    The Dinar Daily, Saturday June 27, 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 1306.386 1305.733
    British pound GBP 1839.715 1838.795
    Canadian dollar CAD 945.891 945.418
    Swiss franc CHF 1250.402 1249.777
    Swedish krona SEK 142.700 142.628
    Norwegian krone NOK 149.721 149.646
    Danish krone DKK 175.059 174.927
    Japanese yen JPY 9.432 9.427
    Special
    Drawing Rights
    SDR 1641.227 1640.406

    Indicative rates - (as of) 24.06.2015 (no change as of 27.06.2015)


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2982- most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 27/06/2015 results were as follows:

    DETAILS NOTES
    Number of banks 22
    Number of remittance companies 3
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 278,879,938
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 278,879,938
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-28-2015 at 11:13 AM.



  2. #2

    Re: The Dinar Daily, Saturday June 27, 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, Saturday June 27, 2015

    Financial Kurdistan: the city of Baghdad to the region by more than 27 trillion dinars



    Author: HA, HH, RA
    Editor: HA, HH
    06/27/2015 14:51
    Number of Views: 446




    Long-Presse / Sulaymaniyah

    Ministry of Finance announced in the Kurdistan regional government, said on Saturday that the city of Baghdad forces Alپeshmrگh more than 11 trillion dinars and the Kurdistan region of $ 16 trillion dinars last year as receivables in 2014, while confirming that the region "to live a real financial crisis."

    He said the ministry's spokesman Ahmed Abdel Rahman during a press conference in Sulaimaniya and attended (range Press), that "the region live a real financial crisis," noting that "only the past year has seen a reduction in the operating budget by a trillion and 513 billion dinars."

    Abdul Rahman said that "the first priority of his ministry is the staff and basic services salaries of insurance," adding that "the benefits of the Ministry of Peshmerga since 2007 and until the year 2015, amounting to 11 trillion and 513 billion dinars, the federal government did not send it until now."

    Abdul Rahman said that "the government in 2014 in a total send four premium payments in the first month of $ 566 billion dinars, and the premium in the second month of $ 548 billion dinars, and the premium in the tenth month in the amount of 583 billion dinars last installment in the month in November of $ 583 billion dinars, too. "

    Abdul Rahman pointed out that "the sum of these premiums amounted to two billion and 280 billion dinars at a time when entitlements financial regions last year amounting to 18 trillion and 280 billion dinars," noting that "the final paragraph of the statement of the Iraqi Ministry of Finance, that Baghdad did not send 16 trillion dues from the region. "

    Abdul Rahman said he was "at a time when the region is committed to the Government of Iraq's public budget for the year 2015 law, but that the Iraqi government does not send the financial dues of Arbil as it should."

    The Kurdistan region of Iraq, slab, on Wednesday, (June 17, 2015), the behavior of other legal ways if the federal government continued in Baghdad in non-compliance with the current year's budget law, and among the political parties supporting the government in any decision to secure the life and living of citizens in the region , confirmed the absence of the provincial government's intention to cut off contacts with Baghdad.

    The head of the Iraqi Council of Ministers Haider al-Abadi, in the June 13, 2015, seeking his government to achieve the demands of the Kurdistan region and the province of Basra and all the provinces, and pointed out that Iraq's imports of oil are still without what passed in the general budget, and with the exception of the launch of a campaign to simplify government procedures step in proceedings the fight against "corruption", he pointed out that many people opposed the launch of the campaign.

    The head of the Kurdistan Regional Government Nechirvan Barzani stressed, in (June 7, 2015) that the people of Kurdistan living conditions "very difficult" and placed psychologically bad for not sending the central government financial budget for the region, as pointed out that the Kurdistan region will be a place to house all those fleeing the Iraqi people , between the Government of the Territory that seek to solve all the problems with the government of al-Abadi.

    It agreed the Kurdistan Regional Government and the Parliament of the region, in the first of March 2015, to continue efforts to divert the region's share of the budget, and coordination of the formulation of a strategy to tackle the financial crisis and the provision of staff salaries, and publish weekly information on the proportion of the production and export of oil, and the processing of all files and the current problems in the Kurdistan region in The legal framework.

    The Ministry of Finance in the government of the Kurdistan region in Iraq (the sixth of May 2015) announced, sending 543 billion dinars federal government to calculate the Kurdistan region, stressing that the amount is transferred in exchange for oil exported from the region during the last April.

    The federal and Kurdish governments have agreed in the (second from December 2014 the past), the allocation of part of the federal allocations of Iraqi ground forces to the Peshmerga forces, and delivery of the Kurdistan Regional Government, 250 thousand barrels of oil per day in addition to the export of Iraq 300 thousand barrels per day of Kirkuk oil.

    The agreement also included the granting trillion and 200 billion dinars for the Peshmerga forces and the allocation of a percentage of the budget of the Ministry of Defense them.

    https://translate.google.com/transla...A9-&edit-text=

  4. #4

    Re: The Dinar Daily, Saturday June 27, 2015

    Government and Parliament fear of a relationship between Capital Bank in Mosul and Baghdad banks



    Author: ASJ, HH
    Editor: BK, HH
    06/27/2015 11:43
    Number of Views: 776




    Long-Presse / Baghdad

    Expressed the Iraqi government and the House of Representatives, on Saturday, their fears of a relationship between Capital Bank branch Jordanian in Mosul, Iraqi banks in the capital, Baghdad, and a student of the Central Bank Batalallma the details of his financial and economic implications for the country, as called for deputy from the province of Nineveh to subdue subject of scrutiny to avoid any damage.

    He said the economic advisor to the Prime Minister the appearance of Mohammed Saleh said in an interview to the (long-Presse), "The government looked at the report, which was published in a number of media on the exercise of Bank Capital Branch Jordanian bank done about normal in Mosul, which is under the control of the organization Daash terrorist", noting that "the Council of Ministers sent an inquiry to the CBI to find out the circumstances of the matter."

    Saleh added that "Capital Bank Arab Bank but its owner Iraqi because the law does not allow the exercise of any Arab Bank or a foreign work in Iraq unless the owner Iraqis, even if the shares up to 100," and expressed fear of the possibility of "the existence of a connection to Capital Bank or branch banks of Iraqi President has in Iraq, what constitutes that of security and economic problem for the country, which should be known to the central bank. "

    For his part, the Parliamentary Finance Committee member Jabbar Abdul Khaliq, said in an interview to the (long-Presse), "The Central Bank of Iraq is on the subject," adding that "the Commission will be directed inquiries to the Central Bank in that regard."

    He explained Abdul Khaliq, that "mere continuation of such bank to open its doors in Mosul raises many question marks should be pursued, even if not exercised his business, especially since the city under the control of the organization Daash terrorist," pointing out that "Capital Bank branch in Mosul followed by banks It owns 80% of the Iraqi bank shares, as it enters the currency auction, organized by the Central Bank, and the remittances of foreign currency. "

    The member of the Parliamentary Finance Committee, that "the Commission will be directed inquiries to the central bank to Atalaaha details on the subject and how the existence of the branch in the presence of Daash and therefore the financial and economic implications for the country."

    For his part, MP for the province of Nineveh Alloizi Abdul Rahman, in an interview to the (long-Presse), "The available information indicates that the Mosul branch of Capital Bank, does not exercise any business currently," stressing that "it did not deliver the branch of the organization Daash Like Other financial institutions in the city. "

    He called Alloizi, to the need to "subdue subject to scrutiny to detect any possible connections to the branch with the rest of Iraqi banks to avoid any damage."

    A report by the station CNBC television the US economic news, highlighted the Bank Capital Branch Bank Capital Bank of Jordan in Mosul, indicating that it is functioning normally and that the conditions of the city "is not as bad as" envisaged by the media, and that the work there is going about normal, while between that (Daash) lacks sufficient capacity to manage the city and "will not remain forever under control", he expressed optimism in the Iraqi market.

    According to the American station, that Capital Bank of Jordan Bank owns 72 percent of the shares of National Bank of Iraq, a member of the Capital Bank Group, and has several branches in Iraq, in Mosul, one of them occupied by Daash.


    https://translate.google.com/transla...A9-&edit-text=

  5. #5

    Re: The Dinar Daily, Saturday June 27, 2015

    Council of Ministers of the Economic Commission recommendation is circulated to protect the Iraqi Product



    Author:
    Editor: AT
    26/06/2015 19:04
    Number of Views: 2131





    Long-Presse / Baghdad


    It circulated the General Secretariat of the Council of Ministers, on Friday, the recommendation of the Committee on Economic Affairs on the protection of Iraqi products, as provided recommendations to ensure the implementation of the protection of Iraqi Products Act No. 11 of 2010, indicated to stimulate the private sector through the protection of many national products such as concrete additives and military Suit and Pepsi-Cola.

    The General Secretariat, in a statement, and I got the (long-Presse), a copy of it, they "were circulated recommendation of the Committee on Economic Affairs approved by the Council of Ministers on the protection of Iraqi products for the purpose of energizing the private sector."

    The statement said, "The recommendations included the approval of the protection of national products for the purpose of energizing the private sector, a concrete additives, systems of drip irrigation systems and components (plastic pipe, filter, and fertilized), and shoe military service, military Suit, and the prayer rug, ordinary cement, portland cement resistor of sulfur salts. "

    The statement, that "products also included a drop of mouth" Vnstein, "the military and scope, pump chilled water, Pepsi-Cola and Diet Pepsi and Seven Up and Diet Seven Up and Mirinda all Nkhadtha, in addition to Mantin Duo - Shani, and bricks potter."

    The General Secretariat of the Council of Ministers, "The recommendations are also provided for the continuation of the committee formed under it Diwani (No. 40 of 2015) issued under the Book General Secretariat of the Council of Ministers of 17 of the (/ 5/2015) on the study of ensuring the implementation of the protection of Iraqi Products Law No. 11 for the year 2010 its tasks. "

    The representatives of the Iraqi private sector called for in (the ninth of August 2014 the past), to the legislation supportive laws for this sector, and stressed the lack of workers in this sector to "experience and their need for training", while criticizing the way private industry deal with the projects and places of distribution, Council of Ministers called on the private sector not to fear the entry of any investment project to compete with foreign companies and improve the cultural level of the workers in it.

    The National Business Council announced (December 27, 2014), for presenting a working paper to the Economic Committee of the Council of Ministers to support and activate the "private sector" in light of lower oil prices and the financial crisis experienced by the Alarac, and stressed that he aims to be an ally and supporter of the economy Albulad, and as pointed out that the Iraqi economy is suffering "a large blurry" It is not a "holistic nor free", expressed its readiness to provide detailed studies and research for the development of all economic sectors, modernization and advancement.

    https://translate.google.com/transla...A9-&edit-text=

  6. #6

    Re: The Dinar Daily, Saturday June 27, 2015

    Central Bank: the process of selling the dollar is not a marginal







    Governor of the Central Bank announced on the Keywords, Saturday, that the dollar selling process is not marginal.

    BAGHDAD / Obelisk: Governor of the Central Bank announced on the Keywords, Saturday, that the dollar selling process is not marginal, and among the state's budget deficit leads to poor Bank, stressed that the fragility of the security situation led to pull money out of the country.

    Keywords and said in a speech during a seminar hosted by the progress of policy development institute, and pursued "obelisk", "The Ministry of Finance does not have enough dinars, which distributes the budget in dollars and we are buying the dollar ones," adding that "the sale of the dollar by the Bank process is not marginal They are linked to the country's economy. "

    He added that "the budget deficit weakens as Bank does not control the size of the money supply," noting that "the fragility of the security situation lead to take out money outside Iraq."

    He stressed that "the power of the Iraqi dinar was the cause recovery neighboring countries economy," pointing out that "determining the ceiling means exemption from the Bank to maintain the prices."

    He continued that "the political interventions affect the operation of the bank," noting that "media statements create confusion dollar market."

    Keywords and stressed the need to "separate the cases of corruption, smuggling and among the general situation of the exchange rate."

    The Central Bank of Iraq confirmed on Saturday (June 20, 2015), it has a foreign currency nearly twice the amount of the dinar in the market, noting that the bank does not have fears or concerns about the impact on the exchange rate.

    https://translate.google.com/transla...584&edit-text=

  7. #7

    Re: The Dinar Daily, Saturday June 27, 2015

    Iraqi stock exchange expect active communication market deeply touched

    2015/06/27 15:55



    Tomorrow/Baghdad: Iraq market for securities, higher activity in the telecommunications sector index stock trading during the coming period, especially after the inclusion of Zain Telecom.

    Executive Director of market Taha Ahmed Abdul-Salam for "tomorrow", "insert company asiacell communications and Zain (Signet) recently, it is hoped that the telecommunications sector in Iraq market for securities outstanding activity can move the market in Iraq".

    "Asking Zain shares with Asia cell, it is natural that there is competition in the services provided by the two companies, which will lead to the high proportion of their trading on the stock exchange as a result of the expected to diversify services and screenings and Internet connections offered by the two companies."

    Abdel Salam confirmed that "mobile trading firms will increase the activity of the stock market the fact that investment in the telecommunications sector is of low risk investments types with high profitability.

    And company asiacell billion 685 million shares traded and sold and are in circulation and has no problem with the proportion of owners of the owners more than the number required. "

    Reportedly, the JSC agreed on 28 April 2015, on request of the shares of the company seal (Zain Iraq) for mobile in Iraq market for securities worth 450 billion shares.


    http://www.microsofttranslator.com/b...5A7-%25D9%2584

  8. #8

    Re: The Dinar Daily, Saturday June 27, 2015

    Governor of the Central Bank: 70 percent of the sales of the bank to cover foreign imports


    06/27/2015 12:37

    Information / Baghdad / ..
    Governor of the Central Bank revealed on the Keywords, Saturday, that 70% of central bank sales are to cover foreign imports to the country, noting that the goal of the bank is to support the private sector.
    Keywords and said in a seminar on the progress of the Institute for Development Policy, "The bank aims to curb liquidity in the market so that we do not have to print more currency," pointing out that "the exchange rate must be flexible in order to keep the movement in the market."
    He Keywords that "70% of the bank's sales are to cover foreign imports," noting that "the Iraqi Central Bank has succeeded through its procedures to restore the Iraqi dinar exchange rate to the previous position, but the reasons that led to the fluctuation of the exchange rate still exist up to now." Ended / 25

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  9. #9

    Re: The Dinar Daily, Saturday June 27, 2015

    The dollar and other currencies prices


    09:00: 06/27/2015




    Khandan - recorded US dollar and other foreign currencies prices on Saturday, the twenty-seventh of June 2015 in the province of Kurdistan banking markets, prices listed below.

    He announced (hills Abdullah) His Office (Sruchty Jinyan) banking in the banking market in the city of Sulaymaniyah in a statement to "Khandan" that the US Dollar and other foreign currencies were as follows:

    US dollar exchange rate stood at 100 126 750 Iraqi dinars

    100 euro exchange rate amounted to 142 000 dinars

    100 pounds exchange rate stood at 198 000 dinars

    Exchange 100 000 Wish rate stood at 39 000 dinars

    Exchange 100 Turkish Liras price of 49 000 dinars

    He added that the dollar exchange rate and other foreign currencies was as follows:

    100 euros for $ 111

    100 pounds for $ 157

    https://translate.google.com/transla...3D2&edit-text=

  10. #10

    Re: The Dinar Daily, Saturday June 27, 2015

    Dollar continues to fall against the dinar


    04:44: 06/27/2015




    Khandan - record US dollar this afternoon decline last banking markets in the city of Sulaimaniya.

    One of the owners, said banking offices in the city of Sulaymaniyah for "Khandan" The exchange $ 100 price drop after Saturday the twenty-seventh of June appeared to 125.500 thousand dinars.

    He added that other foreign currency exchange rate also registered a significant decline in the following manner:

    100 euro exchange rate amounted to 141 000 dinars
    100 pounds exchange rate stood at 196 000 dinars
    Exchange 100 Turkish Liras price of 49 000 dinars


    https://translate.google.com/transla...3D2&edit-text=

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