Bondlady’s Corner

Iraqi News Highlights  Monday Afternoon 1-30-23

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The Governor Of The Central Bank Briefs The Presidency Of Parliament On A “Financial Plan” To Control The Exchange Rate

Money and business   Economy News-Baghdad  On Monday, the Governor of the Central Bank, Ali Al-Alaq, briefed the Deputy Speaker of the House of Representatives on a “financial plan” that he said he would work on to control the exchange rates of the dollar and prevent financial speculation.

A statement by the media office of the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, stated that the latter “stressed, during his meeting with the Governor of the Central Bank of Iraq, Ali Al-Alaq, that financial stability – especially the dollar exchange rate – must return to the Iraqi markets soon.”

Al-Mandalawi stressed the necessity of “compliance with the legal procedures for financial transfers, and protecting the Iraqi economy from previous violations,” stressing “the need to implement global procedures, follow up on transfers and the work of private banks and exchange companies, and pursue all abuses according to the Iraqi laws in force in implementation of the obligations of the Central Bank of Iraq.”

The First Deputy listened to an extensive explanation from Al-Alaq on “the financial and control plan that the Central Bank of Iraq will work on, to control dollar exchange rates, prevent financial speculation, and follow up on suspicious purchases of hard currency that are intended to harm the national economy.”

Will you succeed in dealing with the rise of the dollar? An economist suggests adding a cash currency other than the dinar to the market

Monday 30 January 2023 12:04 | Economical Number of readings: 323   Baghdad / NINA / The expert on economic affairs, Raad Twij, suggested adding a new cash currency to the market to absorb the hoarded dinar and control the rise of the dollar against the dinar.

Twigg said in a statement to the Iraqi National News Agency ( NINA ) that “Iraqi monetary policy has become linked to international monetary policy within the framework of the (Swift) system, which may work to zero currency smuggling operations.”

He added that: “At the same time, the Iraqi monetary system suffers from high levels of the Iraqi dinar, which accumulated over a long period, and which turned in a large part into hoarded money,” noting that: “There must be a corrective monetary process by adding a new currency, and replacing Iraqi dinar.

He explained that “it is difficult to absorb the surplus and hoarded money supply, which carries with it many monetary risks, especially with the continuous suspension of the general budget, and the absence of a fiscal policy that supports monetary policy for many years, which led to a decline and shortcomings in the economic cycle.”

The economist stressed the necessity: “The measures taken to resist rising prices should be correct in the short term, and to build a long-term monetary strategy for monetary reform.”/ End 8

Al-Sudani And Qubad Talabani Stress The Importance Of Resolving Existing Problems In A Way That Enhances Stability And Achieves The Public Interest Of The Country

Monday 30 January 2023 19:10 | political Number of readings: 74  Baghdad / NINA / – Prime Minister Muhammad Shia Al-Sudani and Deputy Prime Minister of the Kurdistan Regional Government, Qubad Talabani, stressed the importance of resolving existing problems in a way that enhances stability and achieves the public interest of the country.

A statement by his media office stated that Al-Sudani received, today, Monday, the Vice President of the Iraqi Kurdistan Regional Government, Qubad Talabani, and the meeting witnessed a discussion of the general situation in the country, and an emphasis on continuing coordination between the federal government and the regional government, in order to achieve understandings in many files, and solve problems. list, in a way that enhances stability and achieves the general interest of the country.”/

Central Bank Sales Jump 40% And Exceed $90 Million

Money and business  Economy News-Baghdad  The Iraqi Central Bank’s sales of hard currency increased by more than 40% today, Monday, to exceed $90 million.

According to a report issued by the bank, “the total amounts of strengthening balances abroad amounted to 43.1 million dollars, while the total cash sales amounted to 48.1 million dollars.”

The total sale total was $91.5 million.

The number of participating banks to meet cash requests reached 13 banks, while the number of participating banks to meet requests for strengthening balances abroad reached 13 banks, and the total number of participating exchange companies reached 26 companies.

The total number of mediation companies participating was “144 companies”.

Yesterday, the bank’s sales amounted to $63.3 million.

Views 280  Added 01/30/2023 – 11:05 AM  Updated 01/30/2023 – 7:18 PM

The Dollar Rises To 166 Thousand Dinars In The Iraqi Market

Economie| 10:05 – 01/30/2023  Baghdad – Mawazine News  Today, Monday, the exchange rates of the dollar witnessed a slight increase in the local markets.  The selling price of the dollar was 166,000 dinars per 100 dollars, while the buying price of the dollar was 165,500 dinars per 100 dollars.

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