KTFA, Walkingstick, Pimpy and more Sunday Afternoon 12-27-2020
KTFA:
Moparman: surprised that nobody is talking about this one. It says the confusion in the market will end next week. The implementation of the demand of the stability of the balance between the official exchange rate and the local market. This sounds pretty interesting to me. Should be an interesting week with the budget in Parliament this week and the end of the fiscal year at the end of the week.
Samson: An expert reveals when the economic confusion due to raising the dollar will end
12/26/2020 21:30:46
The economic expert, Abdul Rahman Al-Mashhadani, suggested the end of the economic confusion in the local market after raising the dollar exchange rate by an official decision of the Ministry of Finance and the Central Bank of Iraq.
"The confusion in the market will end next week and will begin to approach the price set by the Ministry of Finance and the Central Bank of Iraq as a result of the start of withdrawal, the implementation of the demand and the stability of the balance between the official exchange rate and the local market,"
Al-Mashhadani said. He favored "a rise in commodity prices up to 40% in conjunction with work on the new exchange rate of 1470 thousand dinars per hundred dollars, and there is no decrease in the price of the dollar after the recent central bank decision on raising the currency."
Al-Mashhadani said, "The recovery of the Iraqi economy needs a long period, as the justifications put forward by the government are correct in the long-term talk." He pointed out that "the government was supposed to prepare the industrial and agricultural sectors that suffer dumping and price war before announcing the decision to increase the dollar."
Last Thursday, Iraq recorded a rise in the dollar’s exchange rate. The exchange rate on the Al-Kifah and Al-Harithiya stock exchanges in Baghdad was 1420 dinars, or 142 thousand dinars for one hundred dollars. Yesterday's price was at 1405 dinars per dollar. As for the exchange office prices, they also rose to 1,430 dinars for sale and 1,410 dinars for purchase.
In Erbil, the dollar rose to 1,420 dinars, and in Basra 1,410 dinars.
It is noteworthy that the Iraqi Central Bank decided on 19 December to amend the dollar exchange rate, as follows:
1450 dinars per dollar, the price of buying foreign currency from the Ministry of Finance.
1460 dinars per dollar the selling price of foreign currency to banks.
1470 dinars per dollar is the selling price of foreign currency to the public. LINK
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Samson: Al-Araji: The World Bank asked Iraq to raise the dollar exchange to 1660 dinars
27th December 2020
Former Deputy Prime Minister Bahaa al-Araji revealed that the World Bank had asked Iraq to raise the dollar exchange rate to 1660 Iraqi dinars in exchange for its help in solving the financial crisis.
Al-Araji said in a tweet on his Twitter page, today, "In order to help and support Iraq in solving its financial crisis .. The World Bank asked Iraq that the dollar exchange rate be (1660) dinars."
He asked whether the government and parliament "have a unified position, whether by rejection or acceptance?" Or will some political blocs take advantage of this to bid, as they did before ?! ”
It is noteworthy that Iraq requested assistance and loans from the International Monetary Fund, which provided Iraq with a number of conditions for the purpose of implementing its request, including raising the price of the dollar against the Iraqi dinar, raising fuel prices, in addition to other conditions related to the operational budget that includes the salaries of employees. LINK
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Samson: Parliamentary Finance: The World Bank suggested setting the exchange rate at 130,000 dollars per 100 dollars
18:21 - 27/12/2020
The Parliamentary Finance Committee revealed, on Sunday, that the World Bank had submitted a proposal to the Ministry of Finance to set the dollar exchange rate at 130,000 dinars against 100 dollars.
A member of the Finance Committee, Ahmed Hama, said to / the information / that "a meeting was held in Iraq that brought together representatives from the World Bank, the International Monetary Fund, the Central Bank of Iraq and the Ministry of Finance to find solutions to the financial crisis."
He added that "the World Bank presented a proposal to specify the exchange rate of the dollar at 130 thousand dinars per 100 dollars," noting that "the central bank submitted a proposal to set the exchange rate at 166 thousand dinars per 100 dollars."
Al-Mayahi explained that "as a result of pressures, the Central Bank lowered the price to 145 thousand, and the World Bank refused to raise the price to 166 thousand." LINK
Courtesy of Dinar Guru
MilitiaMan The end game is looking to be upon us. They have entered a state where they need critical recalibrations of economic policies. Think of those policies as being exchange rate oriented. The IMF has told us they are to change the exchange rate within this fiscal year. That runs out on or before 12/31/2020 imo.
Walkingstick (via frank26) the auctions which are now well controlled and were always the cause of this problem...will now increase. They will double - they will triple up their sales of the American dollar... Why? Because this will create a shortage of the IQD three zero notes in the marketplace which in turn forces the merchants and the citizens to exchange the IQD for the USD...By them bringing in their 3 zero notes to the CBI for USDs they're collecting their 3 zeros and fixing up M1, M2, M3 figures. Then they can come out with a rate of 1 to 1 or 1 to 1.45...now [citizens] go ahead and trade them in for the new small category notes...the goal is to take in as many 3 zero...within the next week or two...
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Iraqi Dinar News 12/27/20
Pimpy’s Investment Chat: Dec 27, 2020