Iraqi News Sunday Afternoon 1-9-22
Iraqi News Sunday Afternoon 1-9-22
TLM724 Administrator BondLady’s Corner
Economist Warns Of Unjustified Import And Exit Of Hard Currency
Saturday 08 January 2022 11:58 | economic Number of readings: 98 Baghdad / NINA / - The expert in economic affairs, Raad Twij, warned against unjustified import, while stressing the need to use rationalization and reduce excessive consumption, especially in the areas of luxury goods, to reduce monetary demand and the exit of hard currency.
Twig said in a statement to the National Iraqi News Agency / NINA /: “Last December, pressure from the public was observed to obtain hard currency, as the Central Bank of Iraq sold 4 billion and 114 million dollars, at a rate of 196 million dollars per day, while it was at a rate of 167 million dollars. daily in November at a price of 1460 dinars per dollar, and this transfer was in the form of remittances abroad to finance foreign trade.”
He stressed, "Excessive consumption will increase monetary demand, which will push the dollar exchange rate to higher ranks without protection or support from the Central Bank of Iraq to protect the exchange rate above the specified rate that he pledged to maintain."
Twig called for limiting unjustified import, to keep the exchange rate fluctuating within the current level. / End 8 https://ninanews.com/Website/News/Details?Key=949347
The Iraqi Stock Exchange Is Trading 930 Billion Shares During The Year 2021
Iraq Stock Exchange Market Economy News – Baghdad Today, Sunday, the Iraqi Stock Exchange announced the circulation of 930 billion shares, with a financial value of 812 billion Iraqi dinars, during the year 2021 .
The market said in a report, that "the number of trading sessions that were organized during the year 2021 amounted to 226 sessions," noting that "the companies whose shares were traded during this period amounted to 80 companies out of 105 companies listed on the market ."
He added that "the number of shares traded during 2021 amounted to 930 billion shares, an increase of 131 percent compared to last year, with a financial value of 812 billion dinars, an increase of 146 percent over last year, through the implementation of 114 thousand and 467 deals," noting that "the traded price index ISX60 closed at 569 points in the last session of 2021. ”
He pointed out that "the most traded companies during the year 2021 were the banking sector, with a rate of 95.9%, followed by the industrial sector, with a rate of 2.7%, and then the services sector, with a rate of 0.54%, followed by the communications sector, with a rate of 0.4%, and then the investment sector by 0.25%, and then The agricultural sector by 0.1%, followed by the hotel sector by 0.05%, and then the insurance sector by 0.02 %. Views 81 Date Added 01/09/2022
https://economy-news.net/content.php?id=27096
A Slight Increase In The Exchange Rates Of The Dollar In The Local Markets
Economie| 12:02 - 09/01/2022 Baghdad - Mawazine News The dollar exchange rates recorded, on Sunday, a slight increase in the main stock exchange and local markets in the capital, Baghdad.
The dollar exchange rate on the Central Kifah Stock Exchange in Baghdad rose today, recording 147,900 dinars, for each $100 bill.
The exchange rates of the dollar also increased in exchange companies and local markets in Baghdad, where the selling price reached 148,500 dinars, for each denomination of 100 dollars, while the purchase prices amounted to 147,500 dinars, for each paper denominations of 100 dollars. Ended 29/A 4
https://www.mawazin.net/Details.aspx?jimare=181048
Exchange Rate First
Sunday 09 January 2022 748 Yasser Al-Metwally It is time to adjust the exchange rate to enhance the value of the national currency (the Iraqi dinar) against the dollar.
And now that the reasons that prompted the decrease in the exchange rate of the dinar against the dollar as a monetary treatment to overcome the obstacle of the country being forced to borrow externally and internally have disappeared, there is no justification for sticking to this painful measure that touched the lives of all segments of society.
The direct reason for this tight monetary policy was the drop in global oil prices with the effects of the Corona pandemic, and the world has largely overcome this difficult ordeal.
With the return of oil prices to the rise, a cash surplus was achieved that contributed to supporting and strengthening the Iraqi cash reserve, the safety valve for periodic financial crises and natural disasters.
In addition to the above, Iraq was able to close the curtain on the debts imposed on Iraq forcibly to Kuwait. These factors and indicators are encouraging to readjust the exchange rate to what it was before the revaluation of the dollar against the dinar Iraqi.
Perhaps one of the most important reasons and justifications for the demand to return the exchange rate to its normal state is the situation and the painful effects that the citizen has endured, forcing him to give the government the opportunity to address the already dire financial situation.
The measure to reduce the exchange rates of the Iraqi dinar against the dollar has caused chaos in the market and broke down the stability that the market enjoyed at the previous rate.
The prices of materials and goods have been inflamed, which has affected the purchasing power of the citizen. You can imagine the extent of the suffering caused by the prices of medicines and basic materials for all segments of society, especially the poor, the retired and the employees.
The measures taken by the government to treat the poor segments were not equivalent to the effects of the exchange rate difference.
Accordingly, one of the tasks of the new government is to take decisions to restore the price and take strict measures against price manipulators, especially medicines and important commodities that touch the citizen's livelihood by activating the role of careful monitoring of the market.
In mentioning the prices of medicines, the Pharmacists and Physicians Syndicates must activate their role in monitoring and accountability.
For this reason, let us make readjusting the exchange rate the first task of the next government and parliament to relieve the burden of the citizen.
And a question that comes to mind, can the concerned authorities begin to gradually reduce the exchange rate until the formation of the government to mitigate the double effects on both sides of the equation?
https://alsabaah.iq/59455/%D8%B3%D8%B9%D8%B1-%D8%A7%D9%84%D8%B5%D8%B1%D9%81-%D8%A3%D9%88%D9%84%D8%A7
The Death Of The Former Governor Of The Bank Of Iraq, Sinan Al-Shabibi, At The Age Of 80
Posted On 2022-01-08 By Sotaliraq The former governor of the Iraqi Bank, Sinan Al-Shabibi, died on Saturday, after a struggle with illness in Geneva, the capital of Switzerland.
Nawar Akram al-Shabibi, the niece of the deceased, said in a Facebook post, which was followed by Shafak News Agency, that Sinan al-Shabibi died in the Swiss capital, without giving further details about his health condition.
Sinan al-Shabibi held the position of governor of the Central Bank of Iraq, in the year 2003 until 2012, before he was forced to leave Iraq after the issuance of a judicial warrant against him during the second government of former Prime Minister Nuri al-Maliki. https://www.sotaliraq.com/2022/01/08/iraq-76/
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