Zig’s Place Chatroom News & Chatter Tuesday Evening  2-7-23

Butterfly   According to sources that spoke to the official agency, the Central Bank put on the table of Prime Minister Muhammad al-Sudani a study through which he might succeed in reducing the dollar, which was also confirmed by the Sudanese advisor, Diaa al-Nasseri.

The Governor of the Central Bank, Ali Al-Alaq, announced that a second package will be issued in the middle of this month to control the exchange rate, while stressing that there are no internal or external restrictions on external transfers or cash sales of dollars.

As for the House of Representatives, it is witnessing political attempts to set the exchange rate of the dollar at a rate lower than the parallel market rate, ranging from 135 to 137 due to the damage caused by the change in the exchange rate and the rise in prices.

The head of the Parliamentary Rights Bloc said that the exchange rate will be lower than the previous rate and set in this year’s budget to be between 135 to 137.

He added that the political forces that formed this government according to a political agreement and a platform that did not include this issue endeavors to determine the exchange rate according to a ceiling lower than the current one to confront This crisis is taking place seriously, ruling out hosting the prime minister as a result of satisfaction with the government measures taken, changing the governor of the central bank on the government measures taken, changing the governor of the central bank and a set of measures on the ground whose results we are awaiting. https://www.ninanews.com/Website/News/Details?key=1031644

Sah   butterfly Thanks for the posts to catch me up without the search. They said it was 1300 in the new budget over a week ago. Glad to see when they pass and open budget it is at their new rate. Once it is active tomorrow, we should see the budget follow soon.

butterfly   Yes, as they said it would be the middle of this month about the dinar, bam it is all over the internet for it to be tomorrow. Who knows, the budget is probably already taken care of. As I've stated, they are day to days late on posting information.

Sah   Parliament praises the decision to reduce the price of the dollar and calls for speeding up the sending of the budget Economy News / Baghdad

First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, on Tuesday, praised the approval of the Council of Ministers to amend the exchange rate of the dollar.

"We appreciate the approval of the Council of Ministers on the decision of the Board of Directors of the Central Bank to amend the exchange rate of the dollar against the dinar, and we affirm our support for these efforts to alleviate the burdens of the people," Mandalawi said in a tweet.

Al-Mandalawi called on the government to tighten control over traders and exchange rate manipulators to control the market, and to speed up the submission of the budget according to the new price.

On Tuesday, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars per dollar. https://economy-news.net/content.php?id=32336

Sah   They are after it for the budget to be passed.

Butterfly   Well this is interesting: Iran reveals an underground air force base ‘Eagle 44’, IRNA says TEHRAN,— Iran on Tuesday revealed an underground air force base, called “Eagle 44” and the first of its kind large enough to house fighter jets, the official IRNA news agency said.

The “Eagle 44” base is capable of storing and operating fighter jets and drones, IRNA said. The report did not elaborate on the location of the base.

IRNA said it was one of the country’s most important air force bases, built deep underground, housing fighters equipped with long-range cruise missiles.

In May, Iran’s army gave details about another underground base, which houses drones, as the country seeks to protect military assets from potential air strikes by regional arch foe Israel.

butterfly   “Any attack on Iran from our enemies, including Israel, will see a response from our many air force bases including Eagle 44,” Iran’s armed forces’ Chief of Staff Mohammad Bagheri told state TV.

In May 2022, Iranian state television broadcast footage of an underground air force base for drones under the Zagros mountain range in the west of the country.

butterfly   https://ekurd.net/iran-reveals-underground-air-2023-02-07 this site won't allow me to show the photos so you will need to click on the URL.........it is huge!

butterfly   After it exceeded (1800) dinars.” The Council of Ministers approves the amendment of the exchange rate of the dollar https://khabaar.press/archives/110846

Today, Tuesday, the Cabinet approved amending the exchange rate of the US dollar to be at 1,300 dinars.

A brief statement by the media office of the Council of Ministers stated that the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, at the equivalent of 1,300 dinars to one dollar.

This comes after the exchange rate of the dollar against the dinar rose to unprecedented levels, as it exceeded in some days the price of 1800 dinars per dollar.

Since the first month of the new government taking over the administration of the country, the exchange rate of the US dollar against the Iraqi dinar witnessed an upward rise, to exceed 1,500 dinars per dollar before the end of last year .

Since the beginning of this year, the exchange rate of the dollar has witnessed sudden jumps, as it crossed the threshold of 1,600 dinars to the dollar, and it remained fluctuating during the month of last January in the square of 1,600, but during the month of February, the dollar crossed the barrier of 1,700 dinars, and in some days it approached 1,800 dinars per dollar.

These booms and fluctuations prompted the government and the Central Bank of Iraq to take several measures in an attempt to control the exchange rate, but they have not achieved anything so far, while some say that the dollar exchange rate may continue with this rise . ttps://khabaar.press/archives/110846

butterfly   The House of Representatives ends the first reading of two draft laws, one of which is “ownership of residential lands for employees of the Central Refineries Company”

And the media department of the House of Representatives stated in a statement, “Parliament has completed the first reading of the proposal for the first amendment law to the residence law for foreigners.”

The statement added, “Parliament has completed the first reading of the draft amendment law, Order No. (15) of 2004 regarding the ownership of residential plots of land for employees of the Central Refineries Company.” https://khabaar.press/archives/110840

butterfly   Al-Mandalawi appreciates the Council of Ministers' approval of the decision to amend the exchange rate and calls for speeding up the submission of the budget Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, called for expediting the submission of the budget according to the new dollar exchange rate.

Al-Mandalawi said, in a tweet to him on Twitter, followed by “Khabar Press” (Wakh), “We appreciate the Cabinet’s approval of the decision of the Central Bank’s Board of Directors to adjust the exchange rate of the dollar against the dinar, and we affirm our support for these efforts to relieve the burden of the people, and we call on the government to tighten control.” Traders and exchange rate manipulators must control the market, and we ask them to expedite the submission of the budget according to the new price. https://khabaar.press/archives/110856

Sah   Disparity in the dollar exchange rate between Baghdad and the cities of the Kurdistan Region. And a specialist comments

2023.02.07 - 17:31 Baghdad – Nas  The spokesman for the dollar market in Sulaymaniyah, Jabbar Gorran, commented on Tuesday regarding the difference in the dollar exchange rate between Baghdad and the regions of the Kurdistan region.

In a statement to NAS reporters (February 7, 2023), Gorran said, "There are obstacles to the arrival of dollars from Baghdad to Sulaymaniyah, so there is a difference in exchange rates between the central and regional regions."

"There are crowds of citizens selling their dollar holdings after hearing the new measures, and this has caused more savings in money," he said.

Dollar exchange rates on the Kurdistan Regional Stock Exchange on Tuesday continue to hover above 150,100 dinars per <> dollars, according to specialists' monitoring.

The exchange rates before the closure in the Kurdistan Region were as follows:

Erbil:  152750  Sulaymaniyah:  151500  While the exchange rates of the dollar on the Iraqi stock exchange, on Tuesday afternoon, witnessed a rapid decline after the Council of Ministers approved the decision to amend the exchange rate.

The exchange rate of $ 100 on the Iraqi Stock Exchange, according to the monitoring of specialists, (February 7, 2023), amounted to 144 thousand dinars. The selling prices of the dollar on Tuesday afternoon, 156000,100 dinars per 155000 dollars, while the purchase prices of the dollar recorded 100,<> dinars per <> dollars, according to specialists.

Earlier, the Council of Ministers approved the decision to amend the exchange rate of the dollar by the equivalent of 1300,<> dinars.

Sah   The Prime Minister's Information Office said in a statement received by NAS (February 7, 2023), that "the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1300 dinars to the dollar." https://www.nasnews.com/view.php?cat=101627#

Sah   Looks like People in Iraq rushed to banks and exchange office to cash in their USD for Dinar while they could get 151,500 or 152,750 before the rate changed to 130,000 per USD.

Sah   Great way to get rid of USD on the streets fast.

butterfly   They gave them a heads up, so they took advantage of it.

eyeguy   well time will tell

butterfly   @sheila you made it. Good news

eyeguy   now I would be lucky to break even with what I paid for my dinar

eyeguy   1,300,000 divided by 1300= $1000

Sah   eyeguy I am not even, yet. I will patiently wait for them not to screw up this time and stabilize their rate so they can eventually float and increase their value more.

eyeguy   yeah I`m still under water too

eyeguy   Ugggh! glad there is some movement

Sah   At least it is going in the right direction for a change.

eyeguy   yes indeed

eyeguy   just wonder how long before it floats how long till international

Sheila   butterfly here tonight

butterfly   sheila did you see what the CBI posted?

eyeguy   butterfly Eagle 44 is scary

Sheila   butterfly just popped in... rate changed?

butterfly   www.cbi.iq Finally got CBI to post here it is:

The Central Bank of Iraq will start selling the dollar at the new official rate, starting tomorrow, Wednesday, corresponding to 2/8/2023, and  will continue its procedures and steps until the dollar exchange rate stabilizes according to the official exchange rate. It declares its readiness to meet all legitimate requests of individuals, companies, projects and offices to achieve the bank’s goal of stabilizing the general level of prices to protect the purchasing power of citizens, especially since the new exchange rate granted to merchants and others allows lower prices for citizens.

The exchange rates will be as follows:

1300 dinars per dollar, the price of buying a dollar from the Ministry of Finance.

1310 dinars per dollar, the selling price of the dollar to banks through the electronic platform.

1320 dinars per dollar, the selling price of the dollar from banks and non-bank financial institutions to the final beneficiary.   Central Bank of Iraq  Media Office  7/2/2023

butterfly  Ok this is strange it has always read 1458, now it reads 1459.52 for the dinar/dollar

butterfly   WOW.........7,700 people have now been confirmed to have died due to the earthquake.

eyeguy   butterfly on CBI site

butterfly   no.........I will post the url and you will have to scroll all the way down and see the charts. Does your browser translate to English, if not you won't see what I've been watching for sometime. Oh I just saw at the top google translates it for ya: https://www-alaraby-co-uk.translate.goog/economy?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

eyeguy   its okay I trust you

eyeguy   I see 1460

butterfly   it just went up. Wow

eyeguy   I thought ie was going to 1300

eyeguy  is that tomorrow but isn`t it tomorrow already

butterfly   It isn't business time over there

butterfly   It is 4:30 over there

butterfly   4:43 AM  Wednesday, February 8, 2023 (GMT+3)  Time in Iraq still to early

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