Continued decline in the dollar exchange in Iraq
[Ayna-Baghdad] – Foreign currency markets in Baghdad, on Tuesday morning, a decline in the dollar exchange rate against the Iraqi dinar.
The market price on the Kifah Stock Exchange in Baghdad was 1196 dinars per dollar, or 119 thousand and 600 dinars per hundred dollars.
The prices of selling and buying dollars in banking companies were:
The sale price of one dollar 1200 dinars, or 120 thousand dinars, for one hundred dollars.
And the purchase price of the dollar is 1190 dinars, or 119 thousand dinars, for one hundred dollars, and this price is the lowest recorded by the currency markets for years in Iraq.
Foreign Exchange Rates:
EUR World Price: 100 Euro = 122.15 USD The
World Price: 100 Bounds = 139.44 $ The
Turkish Lira The International Price: $ 100 = 409.70 Turkish Lira
Article Credit: Alliraqnews.com Special Thanks to Vernell Washington
BGG ~ There has been a lot of great news out the last few days. This, however, will fly under the radar yet is very, very important. The USD / IQD rate continues to decline. Looking better and better everyday.
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Tomorrow will start the week of financial inclusion in Iraq
The Association of Iraqi Private Banks announced the launch of the Financial Inclusion Week on Wednesday in all parts of the country, with the aim of increasing the dealings with the banking sector.
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq in a press statement that “on Wednesday will see the start of the activities of the week of financial inclusion, which will involve all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy “He said.
He added that “the Central Bank and the Association of Private Banks are directly supervising the organization of the week of financial inclusion, which will be launched in conjunction with Arab countries,” noting that “Iraq wants to increase the number of customers with the banking sector to a large proportion because it will make citizens enjoy the banking services available to the public of loans Electronic payment and others. ”
He pointed out that “the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that you see appropriate from universities and commercial centers and others.” He pointed out that “the banks will during the week of financial coverage to open bank accounts and the granting of credit cards and others.”
Article Credit: http://economy-news.net Special Thanks to Charles Bright!!
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Read more: http://www.dinarupdates.com/observer/
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Central Bank of Iraq Auctions $162,405,813 on April 25th 2018
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 25 registered $162,405,813 in sales, a -5.05% volume decline from the US $171,046,500 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 24.
The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 25 compared to the previous auction.
Data for the April 25 auction was made public by CBI Announcement Number 3685.
Dollar sales in the in the period January 1, 2018 to April 19, 2018 saw an increase of -1% compared to the sales of US $10.78 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.
An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.
Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
BGG ~ We will continue to highlight the regular auctions.
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The Central Bank signs a memorandum with Visa International tomorrow
Economy News Baghdad – The Central Bank of Iraq announced that it will sign a memorandum with Visa International on Wednesday to grant its legal framework within Iraq.
“On Wednesday, the central bank will sign a memorandum of understanding with Visa International that will provide the legal framework for the company in terms of providing services, consultancy and support to the banking and financial sector,” said Central Bank Payments Department Director, Duha Abdel Kareem.
“The presence of Visa International in Baghdad will make a positive change on the economic market,” adding that “the central bank has steps to support competition between international financial companies.”
Article Credit: Economy-news.net Special Thanks to Sherry Miller
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Read more: http://www.dinarupdates.com/observer/
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Read more: http://www.dinarupdates.com/observer/
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Arab Monetary Fund announces the establishment of a regional entity to settle payments between the 22 countries
The Arab Monetary Fund (AMF) announced on Sunday that its board of directors has approved the establishment of an independent regional entity to settle payments among the 22 member states.
Arab countries have ended plans to set up an independent payment system across the region after high compliance costs and global banks have reduced their activities to undermine existing arrangements.
Correspondent banks currently handle most of the payments and settlements among Arab countries and act as agents for foreign institutions that have no actual presence in a country.
US and European banks’ tightening in recent years has increased the cost of anti-money laundering, while some banks have moved out of the market to focus on more profitable sectors.
The fund did not specify a timing for the new mechanism to start, but Bank officials had earlier expected it to start operating in 2020. The capital of the new entity, backed by Arab banks, would be $ 100 million and owned by the Arab Monetary Fund.
The new entity aims to support the use of local currencies in the settlement process between Arab countries as well as major international currencies.
Article Credit: http://economy-news.net/content.php?id=12029 Special Thanks to Vernell Washington
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Read more: http://www.dinarupdates.com/observer/
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Read more: http://www.dinarupdates.com/observer/
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An Iraqi delegation will visit Kuwait next month to follow up the pledges of the reconstruction conference
The reconstruction fund of the affected areas revealed on Tuesday the visit of an Iraqi delegation to Kuwait early next month to follow up the commitments made at the reconstruction conference of Iraq.
“An Iraqi delegation consisting of the Secretary-General of the Council of Ministers Mahdi Al-Alaq and the Chairman of the Reconstruction Fund and a delegation from the Ministry of Education will visit Kuwait on the fifth of next month to follow up the commitments made by Kuwait on the reconstruction of Iraq,” he said.
Al-Hiti added that ’47 countries made pledges at the Kuwait conference, ‘noting that’ such pledges need to sign agreements and this may take time in such conferences, but it remains. ‘
He added that ‘the Republic of Egypt has expressed its willingness to receive students from the affected areas and also received patients to deal with them and these are all pledges and there is a higher committee to follow up these pledges.’
He pointed out that ‘will be held next Thursday, a meeting in the Rashid Hotel to follow up the investment projects that were presented at the Kuwait conference,’ explaining that ‘a section of companies submitted to Iraq to carry out these projects will be discussed these projects in this forum.’
On February 14, Kuwait hosted a conference for the reconstruction of the affected areas in Iraq. The Kuwaiti Foreign Minister announced at a press conference at the end of the conference about the collection of 30 billion dollars out of the 88 billion dollars Iraq declared its need for reconstruction of liberated areas and other areas in the provinces Other.
Article Credit: ikhnews.com Special Thanks to Tim Tarkington
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Some interesting headlines…
Oil is at its highest level since 2014
Governor of the Central Bank of Iraq participates in the meeting of Governors of the Arab Monetary Fund
Iraqi oil ministry calls on US companies to increase their presence in Iraq
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Instructions and criteria for circulation and replacement of banknotes
To all banks:
What are the instructions and criteria for circulation and replacement of banknotes and counting and sorting mechanisms
good greeting. // 2015
Later in our book number 133
No. 12 / For the purpose
2
. Date of unification
16 and update the controls
And instructions on the standards of exchange and exchange of banknotes, we send you the link principles, standards and instructions
Which will be used in the counting, sorting, handing over and handing over of banknotes in order to work.
Appreciation
Central Mirrors
Baghdad
Dr.. Munther Abdul Qader Al Sheikli
Deputy Governor Agency
Issuing cabinets
2018/4 /
Pg.(2)……
Public Invitations
– The Iraqi Bank for 2004 56 1 The Central Bank under its law No. is responsible for determining categories of currency
(Paper and metal) and its measurements and forms and printed banknotes and coins, coins
Responsible for the destruction, replacement and identification of defective ones, and may refuse to replace those currencies (paper and metal) or
Confiscate them if the conditions set out in these instructions are met…
Read Full Text: http://www.dinarupdates.com/showthread.php?56698-Instructions-and-criteria-for-circulation-and-replacement-of-banknotes
There is an extraordinary amount of information in this article – just stunning. They are obviously preparing for something. What? No clue… but this key phrase seems to forecast some need for small denominations of notes.
Key Phrase: …”Banks should open windows to replace damaged and damaged banknotes to the public and hand them over to this bank and its branches, And promoting the circulation of small denomination banknotes”…
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Click this link to join the DU “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
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Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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