Bondlady’s Corner

Iraqi News Highlights Wednesday Afternoon 2-7-23

Tlm724 Administrator Bondlady’s Corner

An Economist Asserts That The Dollar’s Price Reduction Must Be Real By Adjusting Its Selling Policy

Wednesday 08 February 2023 09:06 | Economical Number of readings: 212  Baghdad / NINA / – The specialist in economic affairs, Dergham Muhammad Ali, confirmed that the black dollar market is caused by intermediary banks, not the exchange rate.

Ali said in a statement to the Iraqi National News Agency ( NINA ) that if the auction mechanisms continue to be held hostage by the banks, the black dollar market will remain in control and the dollar prices will return higher than the auction price.

Muhammad Ali called on the government to make more efforts with the Central Bank to maintain the new price or something close to it in the market.

Yesterday, the Cabinet approved the Central Bank’s decision to amend the dollar exchange rate at the equivalent of 1,300 dinars per dollar

Central Bank Sales Approaching $90 Million

Money and business  Economy News / Baghdad   The Central Bank’s cash sales of the dollar increased in an auction today, Wednesday, at the expense of foreign transfers.

The correspondent of “Al-Iqtisad News” stated that the Central Bank sold today, during its auction for the sale and purchase of US dollars, 89 million, 236 thousand and 314 dollars, which the bank covered at a basic exchange rate of 1305 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.

He added that most of the dollar sales went in the form of cash, amounting to 61 million 297 thousand and 629 dollars, while the rest of 27 million 938 thousand and 685 dollars went to strengthening balances abroad in the form of (transfers, credits).

He pointed out that the banks that bought cash dollars amounted to 15 banks, while the number of banks that met requests for strengthening balances abroad reached 11 banks, and the total number of exchange and mediation companies participating in the auction was 174 companies.

The Dollar Is Falling Again In The Iraqi Market

Economie| 11:14 – 08/02/2023   Baghdad – Mawazine News The exchange rates of the dollar witnessed a new decline, today, Wednesday, on the Iraqi Stock Exchange.   Selling price: 145,500 dinars per 100 dollars   Buying price: 144,500 dinars per 100 dollars

Al-Sudani’s Advisor: Iraq Has Made Great Strides In Combating The Financing Of Terrorism And Money Laundering

Economie| 01:28 – 08/02/2023  Baghdad – Mawazine News, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, said today, Wednesday, that Iraq has “made great strides” in combating the financing of terrorism and money laundering.

In an interview with the official newspaper, “Al-Sabah”, followed by Mawazine News, Salih added, “Last year, the European Union removed Iraq from the most dangerous countries and moved from the gray list to the white list.”

And he continued, “The procedures practiced by Iraq in combating money laundering are good, although the conditions of trade in Iraq in the last 20 years took place through irregular financing in most of its paragraphs, and this raised the ire of international prospects, especially the prospects for compliance with the conditions of global institutions.”

And between, that

He pointed out that “the central bank has an important lever that it launched to facilitate freedom of external transfer through the international banking system and financial institutions that are subject to compliance, and there is cooperation between Iraq and those agencies, especially the Financial Action Organization, so Iraq is complying with these rules and needs some time to change some things.”

“The Iraqi international cooperation continues and will reflect positively on the price of the Iraqi dinar,” said the prime minister’s advisor for financial affairs. Ended 29/N33


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