Posts Tagged ‘Currency’

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…)

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…)

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

 

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

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…)

Member of Economic Committee: Lack of government oversight and control contributed to money laundering and smuggling hard currency abroad

Posted: May 8, 2013 in Iraqi Dinar/Politics
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08-05-2013 11:34 AM

Baghdad (newsletter). Invited Member of the Committee for economy and investment Deputy of Iraqi/coalition/nahida Al-daini, the governmental and parliamentary control on financial transfers and the sale of foreign currency on the market to reduce the phenomenon of money laundering and currency smuggling. (more…)

CBI Daily Currency Auction Results for May 8, 2013

Posted: May 8, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 8-May-2013. The results were as follows:

DETAILS NOTES
Number of banks 24
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 140,336,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 140,336,000
Total offers for selling (US$) —–

Exchange rates

CBI Daily Currency Auction Results for May 7, 2013

Posted: May 7, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 7-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$) 158,335,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 158,335,000
Total offers for selling (US$) —–

Exchange rates

Vietnam central bank denies rumors of ‘new currency system’; Denies new notes will be printed

Posted: May 6, 2013 in Iraqi Dinar/Politics
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Easy to be millionnaire in Vietnam

Last Updated: Wednesday, April 24, 2013 04:40:00

Vietnam’s central bank has denied rumors of plans to create a “new currency system.” 

The State Bank of Vietnam has denied rumors that a “new currency system” is going to replace the existing one.

Nguyen Chi Thanh, head of the central bank’s treasury department, said the rumors could have begun because of discussions about amending the Constitution and changing the country’s name. (more…)

CBI Daily Currency Auction Results for May 6, 2013

Posted: May 6, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 6-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$) 204,988,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 204,988,000
Total offers for selling (US$) —–

Exchange rates

CBI Daily Currency Auction for May 5, 2013

Posted: May 5, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 5-May-2013. The results were as follows:

DETAILS NOTES
Number of banks 30
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 195,381,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 195,381,000
Total offers for selling (US$) —–

Exchange rates

Finance Committee Member appeals to GOI and CBI saying, Changing the currency and delete the zeros alone will eliminate fraud

Posted: May 4, 2013 in Iraqi Dinar/Politics
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Saturday, May 4, 2013 09:15

Member of the Committee appealed, on Saturday, to the Iraqi government and management of the Central Bank of the need to implement the project to delete the zeros and the current currency exchange described by Balkadima and removable fraud.

A member of the Committee MP Abdul-Hussein al-Yasiri in a statement to / Baghdadi news / that “Iraq needs a new clean and currency forgery of proof that ancient coins consumed after circulating for a long time during which he became easy to forgery and counterfeiting, as is happening now.” (more…)

Islamic Bank Commissioner: Actions taken by the CBI stood powerless to maintain USD/IQD exchange rate

Posted: May 4, 2013 in Iraqi Dinar/Politics
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Iraq.. The dollar “Tair” Accelerator cannot hold a Central Bank
04-05-2013 09:55 AM

Baghdad (News)/report/… Actions taken by the Central Bank stood powerless to maintain the exchange rate of the dollar to dinar, with the panting citizens daily to buy the dollar, which could be economic and political implications, (News Agency) discussed the phenomenon with experts in this field.

The Director says the country’s Islamic Bank Commissioner Hana Al-Khafaji: surprised by every morning with his lines of citizens who want to buy the dollar, and the strange thing is that all citizens want dollar for the purpose of trade or travel, noting that arguments are not convincing. (more…)

Finance Committee Member: CBI within rights to drop zeros, However, Legislation needed to regulate restructuring currency to protect consumer

Posted: May 3, 2013 in Iraqi Dinar/Politics
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Finance Committee Member: the process of switching the currency when you delete the three zeroes which do not need to legislate law
03-05-2013 07:26 AM

Baghdad (news) .. Said a member of the Finance Committee MP / coalition of Kurdish blocs / Najiba Najib, that the process of switching the national currency when you delete the three zeroes which does not need to enact the law by the House of Representatives, but the instructions issued by the central bank. (more…)

CBI Daily Currency Auction Results for May 2, 2013

Posted: May 2, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 02-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$) 146,985,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 146,985,000
Total offers for selling (US$) —–

 

Exchange rates

 

Ministry of Finance Director: The security situation is not conducive to the deletion of zeros

Posted: April 29, 2013 in Iraqi Dinar/Politics
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| On 2013-04-29 |

Said Senior Director in the Ministry of Finance Najla Al-Alusi said the security situation now does not help to delete the zeros.

Said al-Alusi told the newspaper “integrity” Electronic “The central bank has a lot of experience when he changed the currency in 2004, there were currencies in the trading range of 4 trillion dinars is attributed to the central bank up to 8 trillion dinars, this is a dangerous المتخوف them enter fake money that go for the burn and burn it occurs stolen and returned to the Treasury. ” (more…)

Finance Committee Member: CBI demands to take steps to diversify the basket of foreign currencies; Not rely solely on USD

Posted: April 29, 2013 in Iraqi Dinar/Politics
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Baghdad / Baghdadi news / .. A member of the Finance Committee Shoresh MP Mustafa Rasool, on Monday, the central bank demands to take bold steps to diversify the basket of currencies and not rely solely on the dollar, as it has large reserves of hard currency to avoid the impact of oscillation winning price of the dollar in global markets. ” (more…)

Divergence of views on the project to delete the zeros; Banker: any disregard for the challenges of the project will fail and cause big losses

Posted: April 29, 2013 in Iraqi Dinar/Politics
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29/04/2013 12:53 AM

central problems and the fluctuation of currency exchange rates and efforts to raise the value of the Iraqi dinar stand again placed the deletion of zeros from the Iraqi dinar and characterized by differing views around between the Finance Committee representative on the one hand and the Central Bank on the other, the former demanding the implementation of the project in the second calls for lingered despite the fact that the previous administration have been enthusiastic for this project. (more…)

CBI Daily Currency Auction for April 29, 2013

Posted: April 29, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 29-Apr-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$) 191,749,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 191,749,000
Total offers for selling (US$) —–

Exchange rates

Varied opinions and different views: Politicians: the project to delete the zeros «important; Economists: unimportant

Posted: April 28, 2013 in Iraqi Dinar/Politics
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04/27/2013 09:04

Iraqi observer – specialThe project to delete the zeros before long and is applicable of the important projects that work to reduce the volume of currency large circulating in Iraq and that اتخلو of risk in the event did not take a deliberate plan by the central bank

to Ihlolh without impact on the consequences of money laundering and fraud, has stressed member Economic Commission Abdulabas Xiaa the importance of the formation of committees control of all state institutions to pursue the process of destroying the old currency in the implementation of the project to delete the three zeroes from the national currency, (more…)

Specialists suggest the adoption of a law regulating the currency conversion

Posted: April 28, 2013 in Iraqi Dinar/Politics
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witnessing the Iraqi market volatility evident in the exchange rate of the dollar against the Iraqi dinar is to climb in favor of the dollar as the price ranges cashed between 127-128 dinars. comes this volatility, despite the many actions taken by the central bank in

order to exchange rate stability by expanding distribution outlets and the inclusion of all citizens in the dollar to get through a specific mechanism.

Some economists attribute the cause to the absence of a law regulating the process of converting foreign currencies, allowing the creation of this gap in supply and demand. (more…)

Financial Committee Member: low price of the dollar in international currency will affect the national economy

Posted: April 28, 2013 in Iraqi Dinar/Politics
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28-04-2013 11:31 AM

Baghdad (newsletter). Member of the Finance Committee, called on Deputy//Secretary Hadi Abbas, the need to diversify Central Bank currency basket to avoid global crises and changes in the US dollar on world markets.

He said Abbas (News Agency): the low exchange rate of the US dollar as the Japanese yen and other international currencies will affect the national economy, being directly linked with the dollar, that Iraqi crude is sold in USD. (more…)

CBI Daily Currency Auction for April 28, 2013

Posted: April 28, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 28-Apr-2013. The results were as follows:

DETAILS NOTES
Number of banks 25
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 169,282,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 169,282,000
Total offers for selling (US$) —–

Exchange rates

CBI denies intention to delete the three zeros from currency; says “incorrect at the moment”

Posted: April 26, 2013 in Iraqi Dinar/Politics
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BAGHDAD / obelisk: CBI denied, Thursday, and reported on the media to restore the bank to restructure the Iraqi currency and deleting three zeros which, while stressed that the only reference to permit such things. (more…)

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