Posts Tagged ‘Central bank’

Economist proposes mechanisms to quickly raise the value of the Iraqi dinar

Posted: May 23, 2013 in Iraqi Dinar/Politics
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Iraq Business Directory - 05/22/2013 – 7:48 pm 

Visual proposes mechanisms quick to raise the value of the Iraqi dinar

Exchange rate fluctuations accounted for expert attention

Select an economist many reasons behind the fluctuations in the value of the Iraqi currency and economic imbalances structural considering that the exchange rate holds an pivotal role in monetary policy in terms of its use as a target or a tool and as an indicator of the competitiveness of the state through its effect on the components of economic growth, such as investment and the degree of openness to international trade and capital flows and the evolution of the financial sector. (more…)

CBI Gov Turkey: Central Bank is the sole body responsible for monetary policy in Iraq

Posted: May 23, 2013 in Iraqi Dinar/Politics
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Baghdad / Baghdadi news / .. declared the Iraqi Central Bank, on Thursday, continuing to support the banking activity in accordance with the stated policy and what qualifies these banks and serious contribution in building the economy of Iraq.

He said Iraqi Central Bank Governor agency Abdul Basit Turki said in a statement transfer press office and received / Baghdadi News / copy of it, and during a meeting with a number of managers of Commissioners and officials of private banks that “the sole and reference in the administration and the announcement of the monetary policy in Iraq,” (more…)

CBI confirms it continues to support the banking activity in accordance with the declared policy

Posted: May 23, 2013 in Iraqi Dinar/Politics
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23/05/2013 – 12:57

said the Iraqi Central Bank, on Thursday, continuing to support the banking activity in accordance with the policy stated, as called for all relevant parties to avoid irresponsible remarks that do not conform with the facts which it operates. ,

the bank said in a statement issued today, and received “Alsumaria News”, a copy of “The Governor of the Bank and the Agency Abdul Basit Turki Saeed held, today, a meeting with a number of managers of Commissioners and officials of private banks,” noting that “the governor said during the meeting to the bank continued to support the banking activity in accordance with the policy stated, Since qualifies these banks to perform its national role and contributing Avenue in building the economy of Iraq. ” (more…)

Deputy Khalil: GOI has desire to control the work of the CBI. This is contrary to the Constitution

Posted: May 23, 2013 in Iraqi Dinar/Politics
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23-05-2013 02:24 PM

Baghdad (newsletter). Confirmed the decision of the Commission on economy and investment Deputy of the Kurdistan blocs Coalition//mehma Khalil, the constant interventions by the Federal Government following the Central Bank’s action on the Iraqi dinar exchange rate against the US dollar. (more…)

CBI Daily Currency Auction Results for May 23, 2013

Posted: May 23, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 23-May-2013. The results were as follows:

DETAILS NOTES
Number of banks 26
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 282,701,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 282,701,000
Total offers for selling (US$) —–

Exchange rates

International Monetary Fund (IMF) confirms that the Iraqi economy still has a “weakness”

Posted: May 22, 2013 in Iraqi Dinar/Politics
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Editor: AJ, RS 05/22/2013 16:21

Urged the International Monetary Fund (IMF), on Wednesday, Iraq to “take remedial action in fiscal policy” to improve the levels of pension for citizens, and between the Iraqi economy “still suffers from weaknesses” represented “the small size of non-oil sector and high unemployment,” noting The Iraqi Central Bank reserves reached 70 billion), “the end of 2012.

A statement issued by the International Monetary Fund (IMF) in the quarterly report on developments in the economic and political situation in Iraq, briefed the (long-Presse), a copy of it, that “the executive body of the Fund, which prepared the report in accordance with the Article IV of the Fund with Iraqi officials, confirms that the Iraqi economy is still suffering from weakness, “and that” weaknesses, represented by the small size of the non-oil sector and high unemployment, and control of the public sector and the weakness of the business environment. ” (more…)

Finance Committee: Small committee formed to follow up the stability of the exchange rate of the dinar against the dollar

Posted: May 22, 2013 in Iraqi Dinar/Politics
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05/21/2013 03:39

Finance Committee announced the formation of a small committee to monitor the exchange rate of the Iraqi dinar against the dollar, stressing that the practical measures undertaken by the central bank last week led to address the problem gradually. (more…)

Low gold price does not affect the reserves of the Iraq Central Bank

Posted: May 22, 2013 in Iraqi Dinar/Politics
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Prime Economic Media Center Dergham Mohammed Ali, the reasons for the decline in demand for gold buying locally to increase its price in the domestic market in spite of the low price in the global markets.

Unlikely affected by the low price on global central bank reserves of gold. (more…)

CBI Daily Currency Auction Results for May 22, 2013

Posted: May 22, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 22-May-2013. The results were as follows:

DETAILS NOTES
Number of banks 29
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 252,266,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 252,266,000
Total offers for selling (US$) —–

Exchange rates

CBI criticizes unauthorized statements

Posted: May 20, 2013 in Iraqi Dinar/Politics
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Management decided the Iraqi Central Bank to open letters of credit on Monday with the agreement of the Rafidain and Rasheed.

The bank said in a statement that “it comes within the orientations to develop a plan for the development of the banking system and increasing sophistication in opening letters of credit.” (more…)

Iraqi private bankers hold Ministry of Finance, CBI responsible for IQD decline; Banks and citizens threaten protests

Posted: May 17, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-05-17 at 9.58.05 AMEditor: BK, BS 15.5.2013 17:56

Download bankers and economies, on Wednesday, the Ministry of Finance and Central Bank of Iraq responsible for the decline and the reality of private banks, local, while accusing the latter encouragement of Arab Banks and Iran at the expense of Iraq, and threatened to organize a sit-If you do not amend the laws to their work, he saw an economic analyst, that “the current circumstances do not allowed to go towards investment banks because the banking culture “is still lacking.” (more…)

Economic Committee Member: Current issue with dinar is not natural; Blames poor monetary policy

Posted: May 17, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-02-16 at 12.22.47 PM11:56 17/05/2013Agencies -

A member of the parliamentary economic committee continued decline in the price of the Iraqi dinar against the U.S. dollar, “the issue is not natural.”

He said committee member Amer winner today that “the low price of the Iraqi dinar against the dollar issue of abnormal and might lie behind certain purposes.” (more…)

IQD value rapidly deteriorates; 1220 to 1 USD…Now 1300 to 1 USD

Posted: May 16, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-05-16 at 2.06.16 PMTuesday, 14 May 2013 20:53 | | |

Baghdad (AIN) -The price of the US dollar in the local markets reached 1,300 Iraqi dinars, compared to 1220 dinars in mid-March and represents a significant reduction of the Iraqi dinar’s value since the two last years.

It is known that the official price of the USD until this day, according to the Central Bank of Iraq is IQD 1166 and that means that the value of the Iraqi dinar has reduced more than 11%.

According to representatives of All Iraq News Agency (AIN), this decline has led to increasing prices for a lot of goods in local markets and especially the imported ones. (more…)

Iraqi Integrity and Economic Committee discuss IQD’s rapid decline; Points part of the blame at GOI

Posted: May 16, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-05-16 at 1.55.11 PMCongress: Dinar setback for errors not far from the central government in the file
Range – 05/16/2013 – 10:23

He said deputies from the Integrity Committees and economic النيابيتين that measures suffered by the central bank and the former crew, led to a significant setback for the dinar against the dollar recently, as part of a package of measures is studied which led to a decline in the reputation of Iraq in front of the financial community in the world. (more…)

Experts warns GOI against tapping into CBI financial reserves

Posted: May 16, 2013 in Iraqi Dinar/Politics
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05/15/2013 (23:01 pm)

Warned specialize in regard financial and banking system of the use of the balance of central bank reserves of hard currency in economic development projects, comes at a time the central bank from higher reserves of hard currency it to $ 74 billion, and coincided with the devaluation of the local currency by 1127 dinars to the dollar in the local market. (more…)

Shabibi ousted from CBI, IQD drops; Dinar at lowest level in two years

Posted: May 16, 2013 in Iraqi Dinar/Politics
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English: Governor of the Bank of Irak.

Observers: dip, Shabibi dinar missed and we fear the continued decline
THURSDAY, 16 MAY 2013 17: 07

Iraqi dinar is currently experiencing a decline in its value against the US dollar since the Government sacked the former head of the Central Bank, Sinan Al-Shabibi is raising concern among money and economy in particular.

And the value of the Iraqi dinar fell gradually during the past few weeks, bringing the price of the dollar to about 1,300 dinars after was stable from 1120, the highest rate of exchange-rate mechanism for the last two years. (more…)

CBI Daily Currency Auction Results for May 16, 2013

Posted: May 16, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 16-May-2013. The results were as follows:

DETAILS NOTES
Number of banks 27
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 231,188,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 231,188,000
Total offers for selling (US$) —–

Exchange rates

 

CBI Daily Currency Auction Results for May 15, 2013

Posted: May 15, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 15-May-2013. The results were as follows:

DETAILS NOTES
Number of banks 28
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 161,159,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 161,159,000
Total offers for selling (US$) —–

Exchange rates

Editorial: The value of the Iraqi currency and structural economic imbalances

Posted: May 14, 2013 in Iraqi Dinar/Politics
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D. Kamal Al-Basri and harmful Sbahi professor

Iraqi Institute for Economic Reform

Article seeks to examine the value of the Iraqi currency fluctuations and interpretation of structural imbalances and weak governance vocabulary application and other behavioral factors. And concludes that the following factors may have led to increased demand for foreign currencies and shortage of supply: External political, and weak business environment, the economic and fiscal policy, and the lack of political and economic stability, and the weakness of the productive capacity of local, and that the improvement in the rate of per capita income of Iraq was a factor is the other, weak governance and the rule of law, and the decline of family remittances from abroad, and the growing presence of financial transfer companies and brokerage firms (parallel market), and the emergence of trade zones in border ports. (more…)

Economic Committee Member: high exchange rates of the dollar against the dinar currency behind the drain

Posted: May 14, 2013 in Iraqi Dinar/Politics
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12:10 05/14/2013attributed member of the parliamentary Finance Committee Haitham Jubouri reasons for the high exchange rates of the dollar against the Iraqi dinar currency to the drain by some private banks, which owns companies for the currency converter.

Jubouri said in a press statement that “price-fixing remittances equivalent to two to three times the real price example, if the price of Item five $ 5 it up in the hawala to $ 20 sold amount of the surplus is $ 15 to the black market and that is what is reflected on the currency dramatically” . (more…)

CBI Daily Currency Auction Results for May 14, 2013

Posted: May 14, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 14-May-2013. The results were as follows:

DETAILS NOTES
Number of banks 29
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 188,507,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 188,507,000
Total offers for selling (US$) —–

Exchange rates

 

Presidency of the parliament show support for CBI to adjust the price of the dollar and reduce money laundering

Posted: May 13, 2013 in Iraqi Dinar/Politics
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Expressed the Presidency of the Council of Representatives their full support for the central bank to scrutinize the work of private banks and reform measures that include adjust the exchange rate of the dollar and reduce the phenomenon of money laundering. (more…)

Economist: CBI $74B reserves will boost IQD value; However if reserves pay for projects it will hurt economy

Posted: May 13, 2013 in Iraqi Dinar/Politics
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Economic analyst: CBI balance of hard currency will support Iraqi dinar
13-05-2013 10:33 AM

Baghdad (newsletter). Economic analyst Abdel Salem Al-uqaili warned, nice lending part of the Central Bank’s cash reserve in the country’s investment projects, because it would harm the economy and national currency.

He said Al-uqaili (News Agency): to increase the Central Bank’s balance of foreign currency to more than 74 billion dollars, will boost the value of Iraqi dinar and enhances the strength of the national economy. (more…)

CBI Daily Currency Auction Results for May 13, 2013

Posted: May 13, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 13-May-2013. The results were as follows:

DETAILS NOTES
Number of banks 27
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 223,177,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 223,177,000
Total offers for selling (US$) —–

Exchange rates

Iraqi parliament supports the actions of the central bank to ensure the stability of the dinar

Posted: May 12, 2013 in Iraqi Dinar/Politics
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SUNDAY, MAY 12 / MAY 2013 18:03

announced the Presidency of the Council of Representatives, on Sunday, its full support for the action the central bank intends to take to ensure the stability of the Iraqi currency after it experienced a decline in value against the dollar to a record level in two years.

And plunged the value of the Iraqi dinar gradually over the past weeks to reach the price per dollar to about 1129 dinars after it had been stable for 1120, the highest rate up to the exchange rate during the past two years. (more…)

Parliament, CBI, discuss issuance of decisions to maintain Iraq’s funds

Posted: May 12, 2013 in Iraqi Dinar/Politics
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Sunday, 12 May 2013 19:18 | | |

Baghdad (AIN) -The Iraqi parliament chairmanship discussed with head of the Financial Supervision Council FSC, and acting governor of Central Bank of Iraq, Abdul Basit Turki, the issuance of the decisions which help protect Iraq’s moneys for the next year and addressing the country’s debts. (more…)

Economist calls for the adoption of the oil and gas reserve of the Central Bank economist

Posted: May 12, 2013 in Iraqi Dinar/Politics
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May 11, 2013, 1:43 pm
Economic expert called on behalf of Jamil Antoine, on Saturday, the central bank to adopt oil and gas Kkhozan the reserves instead of gold and the dollar, stressing that the value of oil exports during the year twice all the gold reserves in the country. (more…)

CBI achieves the highest reserves of hard currency in its history at $74 Billion

Posted: May 11, 2013 in Iraqi Dinar/Politics
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11/05/2013 – 15:35

revealed a banking source early on Saturday that the volume of reserves Iraqi Central Bank foreign currency amounted to $ 74 billion, noting that it is the highest reserves achieved by the bank in the country’s history.

source said in an interview for “Alsumaria News”, ” the size of central bank reserves of foreign currency amounted to $ 74 billion, “noting that” it represents the highest rate up to the bank of the currency in the history of Iraq. ” (more…)

Iraqi economist says independent CBI is required and desirable; Need to mesh with role of GOI

Posted: May 11, 2013 in Iraqi Dinar/Politics
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The independence of the Central Bank

11/05/2013 12:00 AM

Economist reported that the independence of the Central Bank is required and desirable, provided that meshes with the role of government supervision. (more…)

Finance Committee to discuss why and implications of high exchange rate of USD in Iraq with CBI governor

Posted: May 10, 2013 in Iraqi Dinar/Politics
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Finance parliamentary add Governor of the Central Bank to discuss the implications of the high exchange rate

Center Brief for the Iraqi Media Network (IMN) – adds the parliamentary Finance Committee, next Sunday governor of the Central Bank and the Agency to discuss the implications of the high exchange rate and stand on its causes.

Committee member said Amin Hadi, Thursday, ‘s (IMN) “The Finance Committee will add the Governor of the Central Bank and the Agency Abdul Basit Turki, next Sunday, to find out the reasons for the high rate compared to the previous months which saw stable.” (more…)

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