Bondlady’s Corner

Iraqi News Highlights Tuesday Afternoon 3-14-23

Tlm724 Administrator Bondlady’s Corner

Nechirvan Barzani Receives A Letter From The US Secretary Of State

Posted On 2023-03-14 By Sotaliraq  The President of the Kurdistan Region, Nechirvan Barzani, received a message from US Secretary of State Anthony Blinken, in which he expressed his happiness at the dialogue that took place between them at the Munich Security Conference held last February.

A statement issued by the regional presidency today, Tuesday, stated that the minister indicated that this was an opportunity to stress the need to find a final solution to the outstanding problems between Erbil and Baghdad through dialogue and understanding.

In his message, Blinken emphasized that solid cooperation and partnership link America with federal Iraq and the Kurdistan Region, expressing his country’s commitment and continuous support for Iraq and the stability, security and sovereignty of Iraq.   LINK

The Decline In The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Exchange

Iraq   Tuesday, March 14, 2023 4:15 PM   Baghdad / The National News Center  The exchange rates of the US dollar decreased against the Iraqi dinar, today, Tuesday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed at an exchange rate of 155,600 Iraqi dinars against 100 dollars, while the prices recorded this morning were 156,000 dinars against 100 dollars.”

He added, “The buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 156,000 Iraqi dinars, while the purchase prices reached 155,000 dinars per 100 dollars.”

Al-Sudani Confirms Work To Ease Registration Procedures On The Electronic Platform At The Central Bank

Tuesday 14 March 2023 09:53 | Economical Number of readings: 425  Baghdad / NINA / – Prime Minister Muhammad Shia’a Al-Sudani affirmed work to ease registration procedures on the electronic platform at the Central Bank.

In his communication with citizens through the Al-Watan and Al-Nas program from Al-Iraqiya channel, Al-Sudani stressed: “The importance of finding solutions to citizens’ problems and addressing them as soon as possible.”/ End 2

Central Bank Sales Drop To 176 Million Dollars

Economy News-Baghdad  The Central Bank announced, on Tuesday, the sale of 176 million dollars through the currency sale window.

The bank stated in statistics on its website that “the total amounts of transfers abroad (remittances, credits)   120.2 million dollars.

He added, “The total amount of cash sales is 56.6 million dollars, and the total sales amount is 176.9 million dollars.”

He pointed out that “the price of selling amounts of documentary credits and international settlements for electronic cards is (1305) dinars per dollar,” noting that “the price of selling amounts of transfers abroad is (1310) dinars per dollar, and the price of cash sales is (1310) dinars per dollar.”

Oil Continues To Lose Amid Fears Of A New Financial Crisis

Economy| 10:33 – 03/14/2023  Follow-up – Mawazine News  Oil prices fell by more than a dollar, on Tuesday, extending their losses for the second session, as the collapse of the Silicon Valley Bank led to a shock in the stock markets and raised fears of a new financial crisis.

Brent crude futures fell 87 cents, or 1.1 percent, to $79.90 a barrel by 0345 GMT. West Texas Intermediate crude futures fell 85 cents, or 1.1 percent, to $73.93 a barrel.

Yesterday, Brent fell to its lowest level since early January, while WTI fell to its lowest level since December.

The sudden closure of SVB Financial Group raised concerns about the risks faced by other banks due to the waves of sharp increases in interest rates approved by the US Federal Reserve over the past year. It also sparked speculation about whether the central bank would slow down the pace of monetary tightening.

US authorities launched emergency measures on Sunday to boost confidence in the banking system after fears of contagion from the collapse of the Silicon Valley bank led to a wave of selling in US assets at the end of last week, and regulators closed New York-based Signature Bank on Sunday.

Leon Lee, an analyst at CMC Markets, said that in addition to the repercussions of the Silicon Valley bank crisis, oil prices are also under pressure due to signs that the Chinese economy is recovering at a weaker-than-expected pace, despite the lifting of its strict restrictions related to the pandemic.

“The market was expecting a strong recovery of the Chinese economy, but the latest inflation figure in February was only 1 percent year on year, which reflects the current deflationary state of the Chinese economy and weak demand,” he added.

The American Petroleum Institute is expected to release US oil inventories data on Tuesday.

Six analysts polled by Reuters expected an increase in US crude stocks by about 600,000 barrels in the week ending March 10.

In The Document, “Faisal Al-Haimus” Was Assigned As Deputy Governor Of The Central Bank

Economy| 02:09 – 03/14/2023   Baghdad – Mawazine News,  Prime Minister Muhammad Shia Al-Sudani appointed Faisal Al-Haimus as Deputy Governor of the Central Bank of Iraq.


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