Bondlady’s Corner

Iraqi News Highlights Thursday Afternoon 1-5-23

Tlm724 Administrator Bondlady’s Corner

For The First Time, The Central Bank’s Sales Of Dollars Are Devoid Of Foreign Remittances

Thursday 05 January 2023 14:23 | Economical Number of readings: 260 Baghdad / NINA / – The Central Bank of Iraq’s sales of dollars in an auction, today, Thursday, were devoid of any external transfers, so that sales were limited to cash only.

And according to a document: that the Central Bank sold today, during its auction for buying and selling the US dollar, 43 million and 500 thousand dollars, which the bank covered at a basic exchange rate of 1460 dinars per dollar. Sales were limited to cash only, which amounted to 43 million and 500 thousand dollars./ LINK

The Appearance Of Muhammad Salih For / NINA / The Dinar Is In Its Strongest Degree Of Stability..And The Fluctuation Of The Currency Price Is Caused By An External Regulatory Constraint

Thursday 05 January 2023 15:12 | Economical Number of readings: 302  Baghdad / NINA / – The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed: The dinar is in the strongest degree of stability..and the fluctuation of the currency price is caused by an external regulatory constraint.

He told the National Iraqi News Agency ( NINA ): The fluctuations in the exchange rate came due to a regulatory restriction imposed by international compliance mechanisms on the countries of the dollar region, including Iraq.

Saleh added: There is a surplus in the current account of the balance of payments that is not less than (15%) of the country’s gross domestic product, which is a really high number, while the balance of foreign currency reserves amounted to about 100 billion dollars, which is the highest in Iraq’s financial history.

He explained: The Iraqi dinar is theoretically at its strongest degree of stability, but the international compliance controls that required greater transparency and governance in the behavior of traders in foreign currency through financing foreign trade from the window of the Central Bank in foreign currency is the reason for the temporary supply of foreign currency in response to demand./ End 3

The President of the Republic stresses the need to expedite the approval of the budget to provide the Requirements For Reconstruction In The Country

Thursday 05 January 2023 17:38 | Economical Number of readings: 195

Baghdad / NINA / – The President of the Republic, Abdul Latif Jamal Rashid, stressed the need to expedite the approval of the budget to provide the requirements for reconstruction in the country.

A presidential statement stated that the President of the Republic received, at the Baghdad Palace, the Minister of Finance, Taif Sami, and discussed with her the developments in the financial and economic situation in the country.

According to the statement, the President of the Republic spoke at the outset of the meeting about Iraq’s upcoming participation in the Davos conference, and his intention to work to ensure that Iraq will have a pivotal role by encouraging businessmen and capital to invest in projects that will contribute to the development of the local economic reality, especially after Iraq witnessed security and economic stability, indicating that supporting the private sector is a national necessity to be a catalyst in supporting the country’s economy.

And the President of the Republic stressed the need to expedite the approval of the draft budget law, to ensure the provision of the requirements for reconstruction in the country and the continuation of the wheel of progress and the development of the service and living conditions of citizens in a manner that meets their legitimate rights to a free and dignified life.

The President stressed the need to conduct appropriate reforms to combat corruption, which is an obstacle to any progress. In this context, he pointed out the importance of relying on electronic governance to reduce financial waste and undermine corruption.

In turn, the Minister of Finance gave an explanation of the developments in the financial situation and the obstacles facing the advancement of the economy and the ways to overcome them, expressing her thanks to the President of the Republic for his support for everything that would achieve stability in the country at various levels./ End 2

The Circulation Of The Iraq Stock Exchange Exceeds Three Billion Dinars In The First Week Of 2023

Market   Economy News / Baghdad  The Iraqi Stock Exchange announced, on Thursday, that more than three billion dinars were traded in the first week of 2023.

And the market media stated in a statement that “the first week of January / 2023 witnessed three trading sessions, and the number of shares traded during this week amounted to more than (2) billion shares.”

He added, “The value of shares traded this week is more than (3) billion dinars,” noting that “the trading index in the market for the first session of the week closed at (591.89) points, while the index closed at the end of the week at (586.02) points, thus achieving a decrease. The amount is (1.00%) for closing it at the beginning of the session.

And executed during the week, “more than (1700) sale and purchase contracts on the shares of companies listed in the market.”  Views 225   Added 01/05/2023 – 3:03 PM Updated 01/05/2023 – 7:34 PM

A New Rise In The Exchange Rates Of The Dollar Against The Dinar

Economie| 09:32 – 05/01/2023   Baghdad – Mawazine News  Today, Thursday, the exchange rates of the dollar witnessed a slight increase in the local stock exchange.   Selling price: 156,200 dinars per 100 dollars   Buying price: 156,000 dinars per 100 dollars

Oil Prices Rose After Two Days Of Sharp Decline

Economie| 09:16 – 05/01/2023  Follow-up – Mawazine News   Oil prices rebounded, Thursday, after falling more than 9% at the beginning of the new year, in the worst annual start in more than 30 years, as investors took advantage of the decline to buy futures contracts based on expectations that demand for fuel will remain stable in the long term.

The rebound came after two days of sharp declines as investors worried about a possible global recession and short-term economic indicators in the world’s two largest oil consumers, the United States and China, appeared weak.

Brent crude futures rose 82 cents to $78.65 a barrel, at 04:34 GMT, while West Texas Intermediate crude futures rose 81 cents to $73.65 a barrel.

During the previous two sessions, Brent and US crude fell by more than 9%, the largest loss in two days at the beginning of a year since January 1991. End 29/N33


To read more current and reliable Iraqi news please visit BondLady’s Corner: