Posts Tagged ‘exchange rate’

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…)

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

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…)

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

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…)

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

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…)

MP calls for quick action to halt the rise in the dollar against the Iraqi dinar

Posted: May 14, 2013 in Iraqi Dinar/Politics
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Baghdadi News – 05/13/2013

Baghdad / Baghdadi news / .. Student member of the citizen’s Parliamentary Bloc MP Abdul-Hussein Abtan, on Monday, the competent authorities to take swift action to halt the rise in the dollar exchange rate.

He Abtan During Matmrsahfa held the parliament building and the presence of / Baghdadi news /, that “the high exchange rate of the dollar against the Iraqi dinar during the current period, taking the burden on private citizens and low-income earners because most of the goods offered in the Iraqi market are imported.” (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

 

Economic Committee Member calls on CBI to take swift action and reconsider policy; Stop turning deaf ear and blind eye on the continuing rise of USD

Posted: May 13, 2013 in Iraqi Dinar/Politics
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Economic parliamentary demanding quick action to stop the rise in the dollar exchange rate

Student member of the Economic Commission bloc MP Abdul Hussein Abtan citizen all competent authorities to take swift action to halt the rise in the dollar exchange rate. (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

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…)

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…)

CBI Auction Results for May 9, 2013

Posted: May 9, 2013 in Iraqi Dinar/Politics
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The latest daily currency auction was held in the Central Bank of Iraq on the 9-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$) 161,151,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 161,151,000
Total offers for selling (US$) —–

Exchange rates

 

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

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

Economic Analyst: Iraq’s monetary policy lags behind the global dependence on old laws

Posted: May 4, 2013 in Iraqi Dinar/Politics
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05/04/2013 – 2:17 pm
Analyst Economic Rissan Musawi, that monetary policy Iraqi lagging global monetary policy, the reliance on old laws. Moussawi said news agency Baghdad International / WAP /, that “monetary policy practiced by Iraq is not suitable to be within the state’s plan to re- building economic infrastructure and finance in Iraq, because there are institutions, cash is responsible for monetary policy Iraqi same laws that were going out during the past period. ” (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

 

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…)

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

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