KTFA Members "News and Views" Tuesday Afternoon 12-8-2020
KTFA:
Samson: 130 thousand dinars against the "paper" ... the government tends to raise the exchange rate of the dollar against the dinar
8th December, 2020
A member of the Parliamentary Finance Committee confirmed today, Tuesday, the government's intention to raise the exchange rate of the dollar.
The owners of banking offices attributed the recent rise in the exchange rate of the dollar in Iraq to the increased demand for it by citizens, after rumors of the government's intention to raise the price of the dollar.
Representative Jamal Cougar said in an interview with Shafaq News; "I think that there is a governmental tendency to create an atmosphere regarding raising the dollar exchange rate more than it was in previous budgets, to reach approximately 130 thousand dinars per 100 dollars," indicating that "this step will affect the citizen as what the citizen receives in terms of salaries and wages will be However, it will decrease in value in the local market compared to the dollar.
Cougar added, "The government's approach to reduce the deficit within the budget for next year is summarized in four main steps, the first is to raise the exchange rate of the dollar against the dinar, and secondly to raise the price of a barrel of oil to more than $ 42, which was previously announced by the Minister of Oil and it is expected that It is increased to more than that to reduce the deficit. The third is reforms and translating the white paper into texts within the budget law, and fourthly, pressure expenditures and go to major expenditures only. He stressed that "these steps must be taken by the government, otherwise there will be a huge deficit."
The exchange rates of the dollar rose during the past two days, rapidly and increasingly, to reach these prices on the Kifah Stock Exchange this morning at 127,200 dinars per 100 dollars. LINK
DeepWoodz: Imo...Tired of being educated for a minute, as it would seem school will soon close. As we are American students, in parallel with Iraqi students, we can feel the end is near.
But unlike us, who will be very glad we have a rate and date finally, the Iraqi students will have their prestige and sovereign pride back.
Yes they will have purchasing power like us, but more importantly I think, they will have their identity recognised by the world.
They will no longer feel like Iran’s little dog that gets kicked when it doesn’t listen. Iraq will be transformed in an instant, after so long and so tired of the tribulation they have endured.
A celebration is coming in the streets!
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Samson: Iraq suspends the official working hours next Thursday
8th December, 2020
The General Secretariat of the Council of Ministers announced, on Tuesday, that the official working hours in the country will be suspended, next Thursday, to celebrate the third anniversary of the liberation of cities from the terrorist organization ISIS.
The secretariat stated in a brief statement, received by Shafaq News, that it was decided to suspend the official working hours on Thursday, December 10, on the occasion of the third anniversary of the liberation of Iraq from the gangs of the terrorist organization ISIS (Victory Day).
It is noteworthy that Iraq declared on the tenth of December 2017, victory over ISIS and the liberation of all cities that were controlled by the organization. LINK
DeepWoodz: Imo....day before the banks get busy with new tools?
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Samson: He submitted a request to amend the law .. Deputy: Elections without a "biometric card" are a prelude to a major fraud
8th December 2020
The representative of the Iraqi Front, Muhammad Iqbal announced, on Tuesday, that she had submitted a request to the Presidency of Parliament to amend the election law and require the biometric card, while she indicated her fear of fraud in the upcoming elections.
The MP for the Front, Muhammad Iqbal, told Shafaq News, "The elections without the biometric system will be a prelude to a very large process of fraud, as happened in the previous elections," stressing that "there is a request signed by more than 50 deputies submitted to the Presidency of Parliament to amend the law."
He added, "The submitted request includes amending some articles of the election law and requiring the biometric card to ensure the success of the upcoming elections."
Iqbal continued, "There is a very large number of the electoral card is missing through the official statements of the Electoral Commission. This thing indicates to us that some political blocs have monopolized this law and intend to rig the upcoming elections."
On Sunday (December 6, 2020), the President of the Iraqi Council of Representatives, Muhammad al-Halbousi, called on the Independent High Electoral Commission to accelerate the process of distributing and issuing the biometric card and all other requirements, in preparation for early elections. LINK
4Cash: Take note America we have to place our voting system with the biometric card IMO!!!
Don961: Al-Kazemi's advisor explains the reality of the trend to raise the dollar exchange rate against the dinar
4,086 Policy 12/08/2020 16:19 Baghdad today - special
The financial and economic advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, denied today, Tuesday, December 08, 2020, that there is a government intention to raise the exchange rate of the dollar.
Saleh said in an interview with (Baghdad Today), that "the talk about a governmental tendency to raise the exchange rate of the dollar, until it reaches the level of 150 thousand dinars against the $ 100, is absolutely incorrect and there is no plan proposed by the government for such an option."
He added that "the high exchange rate of the dollar in the local markets, at the present time, was caused by rumors, which are launched here and there, and they are unfounded," noting that "this rise is temporary, and the coming days will witness a new decrease in the exchange rate."
With the beginning of the morning hours today, the exchange rates of the dollar rose, in the local markets in Iraq, to touch the new high price of 128 thousand dinars for every 100 US dollars.
The selling price of the dollar was 127,500 Iraqi dinars, while the purchase price was 126,500, roughly speaking. As for international foreign exchange rates, the euro reached 100 euros per $ 121.20.
While the price of the pound sterling was 100 pounds per $ 133.57, while the price of the Turkish lira amounted to 100 dollars per 784.28 Turkish liras, while the global price of an ounce of gold was $ 1869.40.
As for the price of a barrel of Brent crude oil, it is $ 48.66, while the price of a barrel of US crude oil is $ 45.47. Earlier, the economist, a member of the board of directors at the Central Bank, Majid Al-Suri, spoke today, Tuesday (December 8, 2020), about the reasons for the high exchange rate of the dollar in local markets.
Al-Suri said in an interview with (Baghdad Today), that "speculation, political and economic confusion, and citizens’ lack of confidence in the future of the Iraqi dinar are among the main reasons for the high exchange rate of the dollar in the local markets. "
Regarding the central bank’s role in dealing with concerns about the rise in the dollar’s exchange rate, al-Suri indicated that “the central bank sells dollars at an exchange rate ($ 1190), and there is no change in the price."
He continued: "Knowing that up to now, there is no intention of the Central Bank to raise the exchange rate, and all that is being circulated of opinions issued by MPs and politicians about fears of a high exchange rate represent means of pressure to achieve certain goals."
He warned that "the central bank seeks to pump hard currency, for the purpose of controlling its exchange rate in the local markets."
He pointed out that "private banks and banking companies have been identified to buy 30 thousand dollars a week," explaining that "this reduction in the infusion of hard currency came because of the lack of travel for tourism, medical treatments, and the lack of liquidity from hard currency."
As the picture indicated, "the Central Bank decided to receive foreign transfers in the form of 75% for the dollar, and 25% for the Iraqi dinar."
The exchange rate of the dollar rose again in the local markets in Iraq, to touch the new high today, Tuesday, 128 thousand dinars for every 100 US dollars.
The selling price of the dollar was 127,500 Iraqi dinars, while the purchase price was 126,500, roughly. As for international foreign exchange rates, the euro reached 100 euros per $ 121.20. link
Iobey777: YES!! and IMO, we all have learned from FRANK that "decrease in the Exchange Rate " really means DROPPING THE 3 ZEROS!! HELLO!!!
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Don961: Despite "reducing the currency pumping" in Iraq ... the dollar is "strangling" the dinar again and unleashing the "economic discord": it will rise even more!
2020-12-08 Yes Iraq - Baghdad
With the significant increase in the Iraqi market, today, Tuesday, the exchange rates of the dollar, the exchange rates of the dollar, touching the new high price of 128 thousand dinars for every 100 US dollars, declarations began, as usual, about the crisis that may continue or stop, as happened in previous days.
The financial and economic advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, denied today, Tuesday, December 08, 2020, that there is a government intention to raise the exchange rate of the dollar.
Saleh said in statements monitored by "Yass Iraq": "The talk about a governmental tendency to raise the exchange rate of the dollar, until it reaches the level of 150 thousand dinars against the $ 100, is absolutely incorrect and there is no plan proposed by the government for such an option."
He added that "the high exchange rate of the dollar in the local markets, at the present time, came because of rumors, which are launched here and there, and they are unfounded," noting that "this rise is temporary, and the coming days will witness a new decline in the exchange rate."
The selling price of the dollar was 127,500 Iraqi dinars, while the purchase price was 126,500, roughly speaking. As for international foreign exchange rates, the euro reached 100 euros per $ 121.20.
While the price of the pound sterling was 100 pounds per $ 133.57, while the price of the Turkish lira amounted to 100 dollars per 784.28 Turkish liras, while the global price of an ounce of gold was $ 1869.40.
As for the price of a barrel of Brent crude oil, it is $ 48.66, while the price of a barrel of US crude oil is $ 45.47.
Earlier, the economic expert, a member of the board of directors at the Central Bank, Majed Al-Suri, spoke today, Tuesday, about the reasons for the high exchange rate of the dollar in the local markets.
"Speculation, political and economic confusion, and citizens' lack of confidence in the future of the Iraqi dinar are among the main reasons for the high exchange rate of the dollar in the local markets," Al-Suri said.
On the role of the central bank in dealing, with fears of a high exchange rate of the dollar, al-Suri indicated that "the central bank sells dollars at an exchange rate (1190 dollars), and there is no change in the price."
He continued: "Knowing that up to now, there is no intention of the central bank to raise the exchange rate, and all that is being circulated of opinions issued by MPs and politicians about fears of an increase in the exchange rate represent means of pressure to achieve certain goals."
He warned that "the central bank seeks to pump hard currency, for the purpose of controlling its exchange rate in the local markets."
He pointed out that "private banks and banking companies have been identified to buy 30 thousand dollars a week," explaining that "this reduction in the infusion of hard currency came because of the lack of travel for tourism, medical treatments, and the lack of liquidity from hard currency."
As the picture indicated, "The Central Bank decided to receive foreign transfers in the form of 75% for the dollar, and 25% for the Iraqi dinar."
The exchange rate of the dollar rose again in the local markets in Iraq, to touch the new high today, Tuesday, 128 thousand dinars for every 100 US dollars.
The selling price of the dollar was 127,500 Iraqi dinars, while the purchase price was 126,500, roughly speaking. As for international foreign exchange rates, the euro reached 100 euros per $ 121.20. link