Bondlady’s Corner

Iraqi News Highlights Tuesday Evening 2-9-23

Tlm724 Administrator Bondlady’s Corner

The Fact That Intra-Trade Is Affected By The New Price Of The Dollar In Iraq

425     Today, Thursday, the economic expert, Rashid Al-Saadi, explained the fact that the intra-regional trade was affected by the new price of the dollar, which was set according to the decision of the Council of Ministers.

Al-Saadi said in a press interview seen by “Takadam” that: “inter-regional trade will not be affected by the new price of the dollar,” explaining that “inter-regional trade between merchants has nothing to do with foreign trade and does not depend on a specific price for the dollar, so whatever the price is, the division and sale take place.”

He added, “There are also steps supported by the government in distributing the food basket, and this helps in reducing prices, and in general the economy is going better.”

Al-Saadi continued, “According to the timing, the federal budget was supposed to be submitted to the House of Representatives, but the repercussions of the exchange rate prevented it from being sent.”

It is noteworthy that the Council of Ministers approved, in its meeting on Tuesday, the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, at the equivalent of 1,300 dinars to one dollar.

The Central Bank began selling the dollar at the new official rate, starting from Wednesday.

“A $20 Million Fine.” Exchange Offices: The Closure Penalty Prompts Us Not To Sell Dollars

Posted On2023-02-09 By Sotaliraq  Many exchange offices are witnessing a reluctance to sell dollars to citizens after the new price was determined by the Central Bank of Iraq and approved by the Council of Ministers.

On Thursday, the owners of some exchange offices confirmed that the threat of closure and a fine prompted us not to sell the dollar to the beneficiaries of the citizens.

A banker in Baghdad said in an interview that “the central bank’s threat to impose financial penalties and close our offices made us wary of selling the dollar,” noting that “the central bank demanded that we adhere to the official pricing by selling at a price of 132 thousand dinars for every 100 dollars.”

He added that “the price of the dollar in the parallel market is higher by the limits of” 20 numbers, “and therefore some exchange offices buy dollars from citizens at a price of 131 thousand dinars per 100 dollars, but they refuse to sell except to acquaintances and at the parallel market price for fear of economic security.”

And he added, “We received yesterday, Wednesday, our weekly share of the dollar at a price of 146,500 compared to 100 dollars, after we paid the bank its dues a week ago,” noting that “we will bear its loss after reducing the price to 131 thousand dinars for every 100 dollars.”

While the owner of another exchange company confirmed in an interview that “economic security is spread in the region and they follow and deliberately enter our offices and companies claiming their need to sell or buy dollars to ensure the extent of the company’s commitment to the Central Bank’s instructions,” noting that “the violator will close his office immediately and refer him to the court to be fined 20 million.” Dinar”.

He pointed out that “Economic Security is also following up the outlets for distributing salaries that were previously buying dollars, and they were originally prohibited from buying or selling dollars,” stressing that “most of these outlets and some exchange companies preferred to close their offices for fear of penalties.”

It is noteworthy that the Central Bank has allocated, yesterday, Wednesday, a hotline to receive citizens’ complaints and inquiries related to the purchase of foreign currency, the dollar, indicating that it will receive complaints and inquiries during official working hours, from eight thirty in the morning until seven in the evening.   LINK

The Central Bank Of Iraq’s Dollar Sales Declined In Today’s Auction

2023-02-09  Posted On2023-02-09 By Sotaliraq   The Central Bank’s sales of dollars in an auction, today, Thursday, decreased by more than 14%.

Our correspondent stated that “the Central Bank sold today, during its auction for the sale and purchase of US dollars, 76 million and 217 thousand and 760 dollars, a decrease of 14.61% compared to yesterday, Wednesday, when sales amounted to 89 million, 236 thousand and 314 dollars, which the bank covered at a basic exchange rate of 1305 dinars.” For every dollar for documentary credits and international settlements for electronic cards, at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.

Our correspondent added that most of the dollar sales went in the form of cash, amounting to 43,800,000 dollars, while the rest of 32,417,760 dollars went to strengthening balances abroad in the form of (remittances, credits).

Our correspondent indicated that the number of banks that bought the cash dollar amounted to 14, while the number of banks that responded to requests for strengthening balances abroad reached 18, while the total number of exchange and mediation companies participating in the auction was 69 companies.   LINK

The Iraqi Foreign Minister Meets With The US Treasury Department In Washington

Political | 05:06 – 09/02/2023   Baghdad – Mawazine News  Foreign Minister Fuad Hussein held today, Thursday, a meeting with the US Treasury Department in Washington to discuss a number of files.

The Iraqi Foreign Minister, Fouad Hussein, arrived yesterday evening, Wednesday, to Washington on an official visit at the head of a senior Iraqi delegation, according to what was announced by the Ministry of Foreign Affairs, which confirmed that he will discuss with senior officials there bilateral relations and ways to enhance them in various sectors, based on the strategic framework agreement between the two countries. The two sides.” Ended 29/M99

The Iraqi Delegation Headed By The Foreign Minister Arrives In Washington

Thursday 09 February 2023 | political Number of readings: 1061 Baghdad / NINA / – The Iraqi delegation, headed by Foreign Minister Fuad Hussein, arrived in the US capital, Washington, on an official visit.

Foreign Ministry spokesman Ahmed Al-Sahhaf said in a press statement: “Deputy Prime Minister and Foreign Minister Fuad Hussein arrived in the American capital, Washington, at the head of a high government delegation, which includes a number of financial and banking personalities. It is hoped that he will meet his American counterpart, Anthony Blinken.”

He added, “The delegation will hold dialogues with the American side, which will focus on supporting Iraq’s monetary policy and exchanging financial and banking support.”/ End


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