Iraq Economic News and Points to Ponder Sunday Afternoon 12-29-24
The Central Bank Of Iraq Sells 296 Million 396 Thousand 196 Dollars In Today's Auction
Sunday 29 December 2024 | Economic Number of readings: 134 Baghdad / NINA / The Central Bank of Iraq sold 296 million, 396 thousand, and 196 dollars in today's auction.
It said in a statement that it sold 296 million, 396 thousand, and 196 dollars in its auction today, covering it at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a rate of 1310 dinars per dollar for foreign transfers, and at a rate of 1305 dinars per dollar in cash.
It explained that most of the dollar sales went to strengthen balances abroad in the form of transfers and credits amounting to 268 million, 496 thousand, and 196 dollars, at a rate of 90% compared to cash sales amounting to 27 million and 900 thousand dollars.
One bank bought cash dollars, while the number of banks that met requests to enhance balances abroad was 14 banks, and the total number of exchange companies participating in the auction was 43 companies. / End7 https://ninanews.com/Website/News/Details?key=1177233
The Central Bank Of Iraq Records Significant Growth In Gold Reserves And Achieves Positive Results In The Economy
Economy | 12/29/2024 Mawazine News – Baghdad The Central Bank of Iraq announced today, Sunday, that it recorded a significant growth in the country's gold reserves, as the growth in reserves reached 57% in the third quarter of 2024 compared to the same period in 2023.
The bank stated that the total value of gold reserves reached 16.8 trillion dinars, compared to 10.7 trillion dinars last year.
In the same context, the bank indicated that annual inflation rates in Iraq were among the lowest in the region during the months of August and September of 2024, as the inflation rate recorded 3.7% and 3.1%, respectively, reflecting price stability and the success of the monetary policy pursued in Iraq.
The bank indicated that the total deposits in banks operating in Iraq recorded a growth of 4.2% in the third quarter of 2024, reaching 127.6 trillion dinars compared to 122.4 trillion dinars in the same year of 2023.
Cash credit granted by public banks also recorded a growth of 11.6%, reaching 72.7 trillion dinars compared to 65.1 trillion dinars in the same period last year.
The statement also included the growth of deposits and cash credit in private banks, as deposits recorded a growth of 14%, and cash credit grew by 15.1% in the same period.
The money supply in Iraq also recorded a growth of 4.1% in the third quarter of 2024, reaching 158.6 trillion dinars, while the broad money supply recorded a growth of 3.3% to reach 179.8 trillion dinars.
The Central Bank confirmed that these results indicate the success of monetary policy in enhancing economic stability in Iraq and increasing confidence in the financial and banking system. https://www.mawazin.net/Details.aspx?jimare=258020
Dollar Prices Drop In Baghdad And Erbil At The End Of Trading
Economy | 05:04 - 12/29/2024 Mawazine News – Economy The US dollar exchange rate fell against the Iraqi dinar on Sunday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.
The dollar exchange rate also fell with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 151,350 dinars per 100 dollars, while this morning it recorded 151,400 dinars per 100 dollars.
Selling prices stabilized in exchange shops in local markets in Baghdad, where the selling price reached 151,500 dinars per 100 dollars, while the purchase price reached 150,500 dinars per 100 dollars.
In Erbil, the dollar also fell, where the selling price reached 151,300 dinars per 100 dollars, and the purchase price reached 151,200 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=258023
Gold Prices Fall In The Capital Baghdad
Economy | 12:48 - 12/29/2024 Mawazine News – Baghdad Gold prices witnessed a decrease in the wholesale markets of Al-Nahr Street in the capital, Baghdad, where the selling price of one mithqal of 21 karat Gulf, Turkish and European gold was recorded at 556 thousand dinars, and the purchase price was 552 thousand.
The selling price of one mithqal of 21 karat Iraqi gold was recorded at 526 thousand dinars, and the purchase price was 522 thousand.
In goldsmiths’ shops, the selling price of one mithqal of 21 karat Gulf gold ranged between 560 thousand and 570 thousand dinars, while the selling price of one mithqal of Iraqi gold ranged between 530 thousand and 540 thousand dinars. https://www.mawazin.net/Details.aspx?jimare=258010
Central Bank Of Iraq Announces Monetary Policy Indicators During 2024
Economy | 12/29/2024 Mawazine News – Baghdad The Central Bank of Iraq revealed, today, Sunday, the positive indicators achieved by the bank for the third quarter of 2024 compared to the same quarter of 2022 and 2023, stressing that this reflects the success of the monetary policy adopted by the bank during 2024.
The Central Bank of Iraq confirmed, in a statement received by (Mawazine News), "the total deposits in banks operating in Iraq recorded a growth of (4.2%) in the third quarter of 2024, as their value amounted to (127.6) trillion dinars, compared to their value of (122.4) trillion dinars in the third quarter of 2023, in contrast, the cash credit granted by public banks recorded a growth of (11.6%) in the third quarter of 2024, as its value amounted to (72.7) trillion dinars, compared to its value of (65.1) trillion dinars in the third quarter of 2023."
The bank stated that "deposits in private banks operating in Iraq recorded a growth of (14%) in the third quarter of 2024, as their value amounted to (18.7) trillion dinars, compared to their value of (16.4) trillion dinars in the third quarter of 2023, while cash credit granted by private banks achieved a growth of (15.1%) in the third quarter of 2024, as its value amounted to (12.2) trillion dinars, compared to its value of (10.6) trillion dinars in the third quarter of 2023, noting that these rates reflect the increased confidence of economic units in private banks operating in Iraq."
He added, "Private sector deposits in banks operating in Iraq recorded a growth of (3%) in the third quarter of 2024, as their value amounted to (56.1) trillion dinars, compared to their value of (54.4) trillion dinars in the third quarter of 2023, indicating that cash credit granted to the private sector by banks operating in Iraq achieved a growth of (8.6%) in the third quarter of 2024, as its value amounted to (42..trillion dinars, compared to its value of (39.4) trillion dinars in the third quarter of 2023, stressing that this increase reflects the increased confidence of the private sector in banks operating in Iraq."
The bank revealed that "the narrow money supply in Iraq recorded a growth of (4.1%) in the third quarter of 2024, as its value reached (158.6) trillion dinars, compared to its value of (152.4) trillion dinars in the third quarter of 2023, while the broad money supply in Iraq recorded a growth of (3.3%) in the third quarter of 2024, as its value reached (179.trillion dinars, compared to its value of (173.9) trillion dinars in the third quarter of 2023."
He added that "the gold reserves of the Central Bank of Iraq recorded a significant growth of (57%) in the third quarter of 2024, as its value reached (16. trillion dinars, compared to its value of (10.7) trillion dinars in the third quarter of 2023."
He stressed that "the annual inflation rates in Iraq are among the lowest annual inflation rates in the countries of the region for the months of August and September of 2024, as the rest of the percentage is acceptable at (3.7%) and (3.1%) respectively, and this reflects price stability and the success of monetary policy in Iraq." https://www.mawazin.net/Details.aspx?jimare=258016
Iraq's Oil Exports To America Increased Last Week
Sunday 29 December 2024 | Economic Number of readings: 205 Baghdad / NINA / The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America rose during the past week to reach an average of 229 thousand barrels per day.
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The administration said in a table, "The average US imports of crude oil during the past week from 9 major countries amounted to 5.844 million barrels per day, down by 302 thousand barrels per day from the previous week, which amounted to 6.146 million barrels per day."
It added that "the average of Iraq's oil exports to America amounted to 229 thousand barrels per day last week, up by 20 thousand barrels per day from the previous week, which averaged 209 thousand barrels per day."
The administration indicated that "most of America's oil revenues during the past week came from Canada, followed by Mexico, Saudi Arabia, and then Brazil."
According to the table, "the amount of US imports of crude oil from Nigeria, Ecuador, Venezuela, and Libya continues." / End https://ninanews.com/Website/News/Details?key=1177199
The Central Bank Allows The Arab Bank Of Iraq To Practice Banking Work
Banks Economy News – Baghdad The Central Bank of Iraq has agreed to grant the Arab Bank of Iraq the final license to practice banking.
According to a document issued by the bank, and reviewed by "Al-Eqtisad News", "Based on the decision of the Board of Directors of this bank No. (269) in its session No. (1662) held on 12/22/2024, it was decided to approve granting your bank the final license No. (15546/4/9) on 12/24/2024, to practice banking work attached in connection with the Central Bank of Iraq Law No. (56) of 2004 and the Banking Law No. (94) of 2004 and the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015, taking into consideration completing the capital increase to the prescribed limit of (400) billion dinars, noting that the code number for your bank is (88)." Below is the document: 157 views 12/29/2024 https://economy-news.net/content.php?id=51401
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