Based on the decision of the Council of Ministers and in light of the policy of the Central Bank of Iraq to encourage reliance on the national currency in financial transactions inside Iraq provided by the banking system and non-bank financial institutions, it was decided that the electronic financial services provided inside Iraq through (automated teller machines, points of sale devices , electronic payment gateway ) in the Iraqi dinar currency.
Shafaq News / The American “Forbes” magazine stated that the US dollar is not the strongest currency in the world, but rather the Kuwaiti dinar, and with a big difference between them.
The American magazine stated that the US dollar is generally seen as the most powerful currency in the world, adding that it is the most traded currency on the world stage, but it is surprising that the “dollar” is not the most powerful paper currency, among the world’s 180 legally recognized currencies. all over the world.
He reviewed the report, which was translated by Shafak News Agency. The 10 most powerful currencies in the world, based on their relative value against the US dollar, noting that most currencies are “floating”, which means that their value fluctuates according to supply and demand, while some currencies are “correlated”, which means that their value is relative to another currency (such as USD) fixed at an agreed rate.
The report pointed out that exchange rates affect the cost of goods and services in a foreign currency, but exchange rate fluctuations also create an opportunity for investors looking to make profits through foreign currency trading.
Here are the 10 most powerful currencies:
1. The Kuwaiti dinar
The Kuwaiti dinar is the strongest currency in the world, as a Kuwaiti dinar buys 3.26 US dollars (or in other words, 1 US dollar is equivalent to 0.31 Kuwaiti dinars, meaning that every Kuwaiti dinar is equivalent to about 3 dollars).
The report indicated that Kuwait earns much of its wealth from being a leading global exporter of oil, and the Kuwaiti dinar was introduced in the sixties of the last century and was initially pegged to the pound sterling before it was re-linked to a basket of currencies.
2. The Bahraini dinar
The Bahraini dinar is the second strongest currency in the world with one Bahraini dinar buying 2.65 US dollars (or one dollar equals 0.38 Bahraini dinars).
Bahrain earns much of its wealth from oil and gas exports. The Bahraini dinar was put into circulation in 1965 and is pegged to the US dollar.
3. The Omani Rial
The Omani Rial is the third strongest currency in the world with one Rial Omani buying US$2.60 (or one dollar equals 0.38 Omani Rial). As with its other wealthy neighbors, Oman is a major exporter of oil and gas, and the Omani rial was introduced in the 1970s and is pegged to the US dollar.
4. The Jordanian dinar
The Jordanian dinar is the fourth strongest currency in the world, with a Jordanian dinar buying 1.41 US dollars (or one dollar equals 0.71 Jordanian dinars).
Jordan is less dependent on oil and gas exports than its neighbours, and is suffering from sluggish economic growth and mounting debt. The Jordanian dinar was put into circulation in the year 1950 and is linked to the US dollar.
5. Sterling
The British pound is the fifth strongest currency in the world with a British pound buying 1.20 US dollars (or 1 US dollar equals 0.83 British pounds).
Britain is the sixth largest country in terms of gross domestic product, according to the World Bank, and the pound was introduced for the first time in the 14th century before its decimal value was broken in 1971. It is a free currency and is not linked to other currencies.
6. The Cayman Islands dollar
The Cayman Islands dollar is the sixth strongest common currency in the world, with 1 Cayman Islands dollar buying 1.20 US dollars (or 1 US dollar equals 0.83 Cayman Islands dollars).
The Cayman Islands is a British territory in the Caribbean and is an offshore financial centre. The Cayman Islands dollar was first introduced in the 1970s and is pegged to the US dollar.
7. Gibraltar pound
The Gibraltar pound is the sixth strongest common currency in the world, with 1 Gibraltar pound buying 1.20 US dollars (or 1 US dollar equals 0.83 Gibraltar pounds).
Gibraltar is located in the southern part of Spain and is officially a British territory. The Gibraltar pound was first introduced in the 1920s and is pegged to the British pound (and the Gibraltar pound is equal to one British pound).
8. Swiss francs
The Swiss franc is the eighth strongest currency in the world, with one Swiss franc buying 1.07 US dollars (or 1 US dollar equals 0.93 Swiss francs).
The Swiss franc is the official legal currency of Switzerland and Liechtenstein and is viewed as a safe haven due to the political stability in Switzerland. The Swiss franc was introduced in the year 1850 and was briefly pegged to the euro before moving into a free float.
9. EUR
The euro is the ninth strongest currency in the world, with 1 euro buying 1.07 US dollars (or 1 US dollar equals 0.94 euros).
The euro is the official currency of the eurozone, which consists of 19 countries out of the 27 countries that are part of the European Union. The physical currency entered circulation in the year 2002 and is floating and free.
10. US dollars
The US dollar is the 10th most powerful currency in the world, at exactly 1 to itself. All other currency units around the world are worth less than the US dollar.
The conclusion of the report; The US dollar was introduced in the 18th century, and is legal tender in the United States, other American territories, and sovereign nations including Puerto Rico, Ecuador, and Zimbabwe.
The United States is the largest economy in the world in terms of gross domestic product. The US dollar is the most traded currency in the world. The US dollar is the largest reserve currency in the world (the currency most often held by central banks) and is the currency used to price many commodities, including Oil, gold and copper.
Shafaq.com
Information / Baghdad… On Thursday, the representative of the Patriotic Union of Kurdistan, Susan Mansour, pledged to resolve the problems between Baghdad and Erbil by approving the oil and gas law in the parliament, noting that patchwork solutions led to a delay in enacting the oil and gas law.
Mansour said in an interview with Al-Maalouma agency, “The political differences are one of the most important reasons for not enacting the law in the House of Representatives.” She explained that “solutions regarding the legislation of the oil and gas file are still patchwork solutions.”
She added, “The problems that occur from time to time, we see that the oil and gas file tops the scene of political differences.”
And she continued, “Legislation of the oil law is not impossible, but there must be good and sincere intentions away from patchwork solutions.”
The representative of the Kurdistan Democratic Party, Jay Taymur, revealed the scenes and developments of the recent meetings and negotiations that took place between the federal government and the delegation of the Kurdistan Regional Government regarding the oil and gas law, the share of the region, and ending the outstanding differences, indicating that Baghdad and Erbil are close to the comprehensive agreement.
Almaalomah.me
Information / Baghdad… On Thursday, the security expert, Sabah Al-Agaili, described the movements of the US ambassador in Baghdad, Elena Romansky, as stinky, calling on the government and the Ministry of Foreign Affairs to neutralize these moves because they are inconsistent with international diplomatic norms.
Al-Ugaili said in a statement to Al-Maalouma, “The role played by the US ambassador in Baghdad, Alina Romansky, is inconsistent with international diplomatic norms, as she interferes with all internal aspects of government and politics by conducting several meetings with Iraqi politicians.”
He added that “all Romansky’s moves involve American malice and stir up discord between this or that party in order to complicate the political and even security scene,” describing “these moves as (stinking).”
Al-Ugaili pointed out that “the Iraqi Ministry of Foreign Affairs is still ignoring these movements and did not prevent the ambassador from stopping these movements, and therefore requires the parliament to host the foreign minister for the disclosure.”
The representative of the Al-Fateh Parliamentary Alliance, Ali Turki, confirmed in a previous statement to Al-Maalouma that the US administration is still insisting on interfering in Iraqi affairs through the statements of its ministers or the interventions of the US ambassador in Baghdad by holding meetings with various executive and political figures outside its diplomatic missions.
Almaalomah.me
Today, the President of the Republic, Abd al-Latif Rashid, confirmed the imminence of approving the general budget, while receiving a delegation from the American Institute of Peace.
In a statement received by Alsumaria News, the media office of the President of the Republic said, “The President of the Republic, Abdul Latif Jamal Rashid, received, at the Baghdad Palace, a delegation from the American Institute of Peace. and understanding.”
The President of the Republic indicated, according to the statement, that “the current stage in the country is witnessing security stability,” stressing that “the government is working to consolidate this stability, improve the general conditions in the country, especially the economic aspect, and improve the living and service conditions of citizens and combat corruption, noting the imminent approval of the financial budget.” And its importance in economic development and the development of basic infrastructure.
The members of the delegation reviewed the activities carried out by the institute in establishing peace and supporting minorities in a way that strengthens community ties, and interest in rehabilitating the infrastructure of areas that have been subjected to terrorism, expressing their thanks and appreciation to His Excellency the President for his efforts in establishing security and caring for minorities.
Alsumaria.tv
Economy News _ Baghdad… Today, the Central Bank decided to use the local currency only in ATMs.
The bank said in a statement received by “Al-Iqtisad News”, that “based on the decision of the Council of Ministers and in light of the policy of the Central Bank of Iraq to encourage reliance on the national currency in financial transactions inside Iraq provided by the banking system and non-bank financial institutions, it was decided that the electronic financial services provided within Iraq through (automated teller machines, point-of-sale devices, electronic payment gateway) in the Iraqi dinar.
It is noteworthy that the automatic teller machines use the denominations of Iraqi dinars and dollars in withdrawal operations for citizens.
Shafaq News / Today, a number of citizens criticized the procedures of government and private banks concerned with exchanging the dollar at the official rate for specific groups for the purpose of traveling outside the country, while others expressed their dissatisfaction with the “poor organization”, the spread of nepotism and connections, and waiting for long hours in front of the buildings of those banks in which conditions prevail.
The citizen, “Ali”, who is a reviewer of a bank concerned with the exchange of dollars, told Shafaq News agency, “The situation is poor, and my wife and I have been waiting since four in the morning until now (2 in the afternoon) in order to obtain our share of the dollar according to the procedures announced by the government and applied by the banks.” Government, but we have not received anything yet,” indicating that “he is waiting for tomorrow’s travel date, and he is still waiting in line.”
The citizen adds that “he and his wife have registered their names to receive this share since yesterday, but to no avail, as a number of people enter through (the wasta), and others without registering names to receive these amounts.”
For his part, the citizen Ibrahim, who is also one of the auditors, told Shafaq News agency, “I have been waiting since nine in the morning without getting the prescribed share of the dollar, and from time to time one of the employees comes out to dictate a list of instructions to us and enters, while we arrived at 2:15 in the evening without registering.” Any progress in obtaining this quota for the purpose of traveling outside Iraq tomorrow.”
He adds, “I checked in other government branches, and the situation is a (farce) as well, as there may be fewer auditors in these branches by a slight difference, as there are about 90 people in front of the bank’s gate waiting to obtain the dollar assigned to them.”
And the citizen continues, “There is a clear misorganization, as it is supposed to organize the names of people who are in a hurry to get their quota due to travel conditions, and to register the names of those who have a space of time and the subject of their travel is postponed until the beginning of next week,” noting that “(Al-Wasatat) and (Group The Tahoe) and (certain women) entered before our eyes, received their money, and left while we waited for our turn.
And an informed source considered, today, Wednesday, that Al-Rashid Bank stopped handing over the dollar to travelers temporarily for three days, indicating that the quantity was depleted behind that, as the source indicated, that “the stop is considered temporary, and the dollar sale process will resume if the bank receives the next share scheduled for it from the bank.” central”.
On Friday, February 17, the official spokesman for the federal government, on behalf of Al-Awadi, announced the adoption of the official exchange rate of the dollar against the dinar at all Iraqi Airways outlets.
And the Central Bank of Iraq decided, last January, to include banks that are allowed to participate in the electronic platform and wishing to participate in selling cash dollars for the purposes of travel, treatment and study.
The bank directed government banks (Al-Rafidain – Al-Rasheed – Trade Bank of Iraq TBI) to expand outlets for selling cash dollars to travelers in the country’s airports (Baghdad – Basra – Najaf – Erbil – Sulaymaniyah).
It is noteworthy that the Central Bank, in cooperation with the federal government, issued strict instructions to limit the smuggling of hard currency outside the country.
Shafaq.com
US Secretary of Defense Lloyd Austin affirmed Washington’s commitment to maintaining its military presence in Iraq and strengthening partnership with Baghdad, during an unannounced visit to the Iraqi capital yesterday, after which he visited Erbil.
“The American forces are ready to stay in Iraq at the invitation of the Iraqi government,” Austin told reporters after his meeting with Iraqi Prime Minister Muhammad Shia’a al-Sudani. He added, “The United States will continue to consolidate and expand the partnership to support Iraq’s security, stability, and sovereignty.”
Later, Al-Sudani said in a statement that his government’s approach is to maintain balanced relations with governments in the region and the world, based on common interests and respect for sovereignty, adding that “Iraq’s stability is key to the region’s security and stability.”
According to current and former officials and experts, one of the goals of the US Secretary of Defense’s visit is to support the Iraqi prime minister in confronting Iranian influence in his country.
In a related context, US Assistant Secretary of State for Near Eastern Affairs Barbara Leaf mentioned, in an interview with Asharq Al-Awsat, that her country is aware that its partners in the Middle East region face real security threats, stressing that the US Central Command is working to establish an integrated security structure for the region, Saudi Arabia will be a central part of it.
The US official stressed the need to prevent Iran from acquiring nuclear weapons, noting that Iran’s continued sending of drones and other weapons to Russia affects the security of the Gulf.
Rawabetcenter.com
Information / Baghdad… A member of the State of Law Coalition, Khaled Al-Saray, confirmed, on Tuesday, the involvement of former Prime Minister Mustafa Al-Kazemi in leading corruption mafias in Iraq, indicating that Al-Kazemi assigned 500 intelligence officers to manage his pages on social media.
Al-Saray said in a televised interview, followed by Al-Maalouma, that “Mustafa Al-Kadhimi did not fight corruption, but rather sponsored and participated in it, and that the current Prime Minister, Muhammad Shia’a Al-Sudani, refused more than once to meet him.”
He added, “The former prime minister is involved in a case affecting Iraqi security, as he assigned 500 officers and employees of the intelligence service to manage his pages on social media.”
He pointed out that “the previous government granted every journalist working to stoke discord between the coordination framework and the Sadrist movement, one million and 500 thousand dinars as a regular monthly salary, which reveals the size of the plot he was weaving against the country.”
Almaalomah.me
Information / Anbar… A source in Anbar Governorate revealed, on Tuesday, the arrest of the Anbar retirement director and his assistant after they were lured into Baghdad for their involvement in major financial and administrative corruption operations amid secrecy by the Taqaddam Party headed by Muhammad al-Halbousi.
The source said, in a statement to Al-Maalouma, that “a security force arrested the director of Anbar retirement and a leader in the Taqaddam party, Anas Al-Alwani, while he was trying to travel to Jordan, hours after his assistant was arrested and lured to Baghdad, on the grounds that judicial orders were issued against those targeted, on the grounds of suspicions of financial and administrative corruption against him.” detainees.”
The source, who preferred to remain anonymous, added that “the force lured the two targets and then arrested them in Baghdad,” indicating that “the arrests were issued by one of the judicial courts in Baghdad, and they were handed over to the medical authority for interrogation by the Anti-Corruption Committee,” stressing that the influential political parties In the local Anbar government, the media kept silent about the arrest of the directors of those departments who belong to their parties.
Sheikh Ahmad al-Dulaimi, one of the sheikhs and notables of Anbar province, had admitted earlier that Parliament Speaker Muhammad al-Halbousi used his influence to prevent the prosecution of those involved in the theft of public money from his party.
Al-Dulaimi said in a statement to Al-Maalouma Agency, “The Speaker of the House of Representatives, Muhammad al-Halbousi, in coordination with influential parties in the central government, hid large files of corruption in the municipality, real estate registration, tax and retirement departments in Anbar Governorate, for fear that they would be referred to the judiciary, as they are leaders of the Taqaddam Party.”
Almaalomah.me
