Friday Morning Iraq News Highlights 12-23-22

A Government Bank Announces The Direct Procedures For Selling The Dollar

Economie| 08:33 - 12/22/2022  Baghdad - Mawazine News  Al-Rasheed Bank announced today, Thursday, the start of procedures for selling dollars for travel purposes, at a price of 1465 dinars per dollar.

The bank's media stated in a statement, a copy of which Mawazine News received, that "the procedures for selling dollars for travel purposes have been initiated, with no more than (10) thousand US dollars for each customer deposited in the credit card that will be issued to those wishing through the bank's branches."

The statement added, "The branches in which the dollar will be sold now are (the main branch / Yarmouk / Raghba Khatoun), and other branches will be included in the coming days." Ended 29 / M99

https://www.mawazin.net/Details.aspx?jimare=214843

The US Dollar Maintains Its Course Globally

Economie| 02:02 - 12/23/2022  Follow-up - Mawazine News   The dollar was in the lead on Friday, as strong US economic data reinforced the need for the Federal Reserve to stay on its path of tightening monetary policy and increased the odds of raising interest rates for a longer period.

The greenback gave up some of its gains in Asian trade after rallying broadly overnight, although it faltered against the Japanese yen, which continues to attract strong demand after the Bank of Japan's surprise policy adjustment earlier in the week.

The pound rose 0.05% to $1.2043, after falling to a three-week low of $1.1993 overnight.

The kiwi rose 0.38% to $0.62715, after falling 0.7% and touching a three-week low on Thursday.

Data released Thursday showed that the number of Americans filing new claims for unemployment benefits rose less than expected last week, indicating a still-tight job market.

A second report on the same day confirmed that the US economy rebounded in the third quarter at a faster pace than previously expected, after contracting in the first half of the year.

The euro rose 0.06% to $1.0606, with the single currency under broad pressure recently due to a combination of weak growth in the eurozone, the Ukraine war, and the Federal Reserve's hawkish policy path.

Against a basket of currencies, the US dollar index settled at 104.37.

The bank's surprise The  yen fell about 0.2 percent to 132.67 per dollar on Friday, but it is on its way to achieving its third largest weekly gain this year, by more than 3 percent.

The Bank of Japan's surprise adjustment on Tuesday to allow the 10-year yield to move 50 basis points either side of its 0% target, wider than the previous range of 25 basis points, provided a strong impetus for the previously sliding yen. The central bank's move reinforced the market's expectations that it may be a prelude to the complete abandonment of the yield curve control policy.

Data released on Friday showed that Japan's core consumer inflation hit a 40-year high of 3.7% in November as businesses continued to pass rising costs on to households.

Minutes of the BoJ's October policy meeting released on Friday showed that some policymakers called for attention to how a future exit from ultra-low interest rates will affect markets and household mortgage rates.

In other currencies, the Australian dollar rose 0.13% to $0.6678, after falling 0.6% overnight.

The offshore Chinese yuan rose about 0.2% to 6.9975 per dollar.

Two sources told Reuters that Russia will start buying the yuan from the currency market next year if oil and gas revenues meet expectations, opening a new front in an accelerated campaign to remove the dollar aimed at reducing its dependence on Western financing. Ended 29 / M99

https://www.mawazin.net/Details.aspx?jimare=214890

Al-Rafidain Begins Selling Dollars To Citizens, Starting From Saturday

Economie| 10:34 - 12/22/2022   Baghdad - Mawazine News , Al- Rafidain Bank announced today, Thursday, the start of selling dollars to citizens at a price of 1465 dinars.

The media office of the bank stated in a statement, of which Mawazine News received a copy, that "in implementation of the directives of the Central Bank of Iraq regarding the sale of dollars, the bank has begun selling foreign currency, the dollar, for travel purposes, at an amount not exceeding 10,000 US dollars for each customer deposited in the Master Card issued by Al-Rafidain Bank at a price of 1464 Iraqi dinars per dollar.

The office called on “citizens wishing to obtain dollars to” review the Palestine Street branch on the Rusafa side and the Arab neighborhood branch next to Karkh, as of Saturday, corresponding to 12/24/2022. Ended 29 / H    https://www.mawazin.net/Details.aspx?jimare=214855

For The First Time.. Dollar Exchange Rates Exceed 152,000 Dinars In Baghdad

2022-12-22 03:28   Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar rose today, Thursday, in the main stock exchange in the capital, Baghdad, to exceed, for the first time "in two years," the barrier of 152,000 dinars for every 100 dollars.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded, at 12:00 noon today, an exchange rate of 152,350 dinars for every 100 dollars, indicating that the exchange rates for this morning had amounted to 151,750 thousand dinars.

Our correspondent indicated that buying and selling prices also rose in exchange shops in the local markets in Baghdad, where the selling price reached 152,750 dinars per 100 dollars, while the purchase price reached 151,750 dinars.

This increase, which exceeded 152 thousand Iraqi dinars for every 100 dollars, is the first since 2020, when the Iraqi parliament approved the general budget for the central bank to approve at an official exchange rate of 146 thousand dinars.   LINK

The Exchange Rates Of The Dollar In The Iraqi Market Today

Economie  2022-12-23 | 02:08  5,815 views   Alsumaria News – Economy   Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets on Friday.

The selling price of the dollar was 152,500 dinars per 100 dollars, while the buying price of the dollar was 152,200 dinars per 100 dollars.

It is noteworthy that, on December 19, 2020, the Central Bank of Iraq officially announced the adjustment of the exchange rate of the US dollar to be 145 thousand dinars for every 100 dollars, according to the 2021 budget approved by Parliament. LINK

Parliament Puts The Budget At The Top Of Its Priorities After Its Recess

Economie   2022-12-23 | 03:18  Source:  Sumerian   343 views   The legislative house is preparing to return from its recess early next month, awaiting the general budget law, which will be one of the parliament's first priorities at a time when citizens have high hopes about the projects and job grades that the law will contain.

There is no talk above talking about the general budget law, whether in the street or even in the halls of parliament, a budget that the citizen eagerly awaits and also the legislative house, which will be one of its first priorities after returning from the legislative recess, according to what representatives confirmed.

The next year's budget will bring excellent conditions in terms of financial abundance and large central reserves compared to previous years, which many rely on to be different in terms of investments and job grades.

While parliamentary circles confirmed their need for nearly two months to prepare the budget law inside the legislative house as soon as it arrived from the government, after which the law would be voted on.   LINK