A director in the central bank sets his forecast for the dollar exchange rate within days and reveals a forthcoming measure

News source / Baghdad today

News source / Baghdad today

Baghdad today – Baghdad

The General Director of the Central Bank branch in Basra Governorate, Qasim Raheeb, suggested that the exchange rate would continue to decline in the coming days.

Raheef said in a press statement, followed by (Baghdad Today), that “the statements made by some members of Parliament, and other parties, that there is an intention to raise the exchange rate of the dollar in the coming days, created a crisis through the increase in demand for the dollar, which led to an increase in its exchange rate. For high numbers ”.

He continued: “There is no truth to the news that talk about an overnight decision by the central bank to raise the dollar exchange rate,” noting that “the central bank will launch sums of money to reduce the dollar’s exchange rate to 121 or 120 for every 100 US dollars, on selling exchanges. And buy the dollar, within days. ”

Today, Sunday (October 18, 2020), the Central Bank of Iraq issued a statement regarding reducing the exchange rate of the Iraqi dinar against the US dollar, while confirming that this news represents the viewpoint of the one who stated it, not the bank.

The media office of the Central Bank stated in a statement received (Baghdad today), that “The Central Bank of Iraq confirms that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it, and do not represent the official position of the Central Bank. This was accompanied by a number of rumors launched by speculators, which affected the price (temporarily).

According to the statement, the bank announced that “the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent.”

The statement continued, “This bank hopes that the media will exclusively use the sources of the Central Bank in this regard.”

Yesterday, Saturday, the price of the dollar rose against the Iraqi dinar, reaching 100 dollars each, compared to 128 thousand dinars, according to some exchanges.



indicators of the dollar war against the Iraqi dinar … The “latent” foreign currency reserve is a good number


Yes Iraq – Baghdad

The Economic Advisor to the Prime Minister Mazhar Muhammad Salih confirmed that the intervention of the Rafidain Bank in the activities of buying and selling could provide stability in the exchange market.

Saleh said, in statements monitored by “Yass Iraq”: The development of windows for selling the dollar through the first governmental commercial bank, that is, the Rafidain Bank, is the embodiment of the money market operations that the bank practices to buy and sell dollars with its customers from banking companies on behalf of the monetary authority.

Saleh added that: This matter is a new direction to develop the operations of the (wholesale) money market for foreign currency. The intervention of Al-Rafidain in the activities of buying and selling may provide stability in the exchange market, but depends on meeting the new window for the total foreign money demand (from outside the remittance market) because it is feeding Demand by way of remittances is still one of the tasks of the window of sale and purchase of foreign currency for the Central Bank of Iraq, which constitutes more than 90% of the need for foreign exchange in order to finance foreign trade for the private sector.

He explained: There is a correlation in the formation of the exchange rate and its movements in the secondary market between the remittance market and the dollar cash market. The latter market is highly correlated and highly sensitive to the information market and is affected by it quickly, so the dollar cash market is one of the most sensitive markets in driving the price in the parallel market for exchange, but it is encouraging at the same time to form an effective and highly flexible offer from outside the Rafidain monetary window.

And Saleh continued that: By virtue of the current monetary behavior of individuals in the local economy that is semi-dollarized and the composition of the demand for foreign currency, which is based on the hoard of individuals in foreign currency or their bank deposits in the same foreign currency, we find that there is a foreign reserve (latent) and prepared for effective supply in the cash dollar market estimated by Some, in total, about not less than 7-10 billion dollars, which are saturated sums that are kept with individuals, most of them outside the local banking system, and are sometimes used in settling large internal transactions such as dealing with real estate, land, transport, gold, and others.


Parliamentary Finance pledges salary insurance by voting on a law



Baghdad / Al-Mawred News

On Sunday, the Parliamentary Finance Committee pledged to secure the salaries of employees by passing a law on financing the fiscal deficit in the House of Representatives.

Committee member Shirwan Mirza said, “The House of Representatives voting on the fiscal deficit financing law will provide for the payment of employees’ salaries for the remaining months of the current year, suggesting that the parliament will vote on the bill that is an alternative to the fiscal budget for 2020.”

Regarding the economic white paper approved by the Al-Kazemi government, Mirza stressed that “implementing the reform paper takes a long time,” noting that it “did not directly mention the Kurdistan region, but rather dealt with the border crossings and oil.”


Launching salaries for presidencies and five ministries in the Kurdistan Region

Kurdistan Region

Kurdistan Region


2020-10-18 12:08

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Shafaq News / The Ministry of Finance and Economy in the Kurdistan Regional Government announced today, Sunday, that it will distribute the salaries of last September to five ministries and the three presidencies on Monday, and will complete the distribution of salaries for all ministries and government departments in the region.

According to the salary distribution schedule, tomorrow, Monday, the salaries of the month of September will be distributed to the ministries (municipalities, tourism, electricity, agriculture, water resources, culture, youth, construction and housing).

According to the same schedule, tomorrow, Monday, the salaries of the same month will be distributed to the three presidencies (the regional presidency, the parliament presidency and the prime minister).

Thus, the distribution of the salaries of the month of September for all employees will end with a deduction of 18 percent of the salary, and the distribution of the salaries of retirees will follow.


Al-Kazemi leaves for Paris





2020-10-18 08:30

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Shafaq News / The Iraqi Prime Minister, Mustafa Al-Kazemi, has left the capital, Baghdad, heading to the French capital, Paris.

A statement by Al-Kazemi’s office, received by Shafaq News, indicated that “Al-Kazemi is on a European tour that also includes Britain and Germany.”

He pointed out that “Al-Kazemi will hold several meetings with senior officials in these three countries, and discuss the development of bilateral relations with them.”

A government source previously reported, to Shafaq News, that Prime Minister Mustafa Al-Kazemi made a European tour at the head of a high-level government delegation.

The source told Shafaq News Agency, that the tour includes all of London, Paris and Berlin, during which a number of agreements will be concluded at various levels.

Today, Sunday, the German embassy in Baghdad revealed a visit by Iraqi Prime Minister Mustafa Al-Kazemi to Berlin to hold talks with Chancellor Angela Merkel.

According to a statement by the embassy, reported to Shafaq News, the meeting comes despite the challenges of Corona’s difficult situation in Berlin, but such important meetings are also possible with a good prevention policy.

He added that the meeting will be on Tuesday, October 20, 2020, at 10:30, Berlin time. The dialogue will deal with bilateral relations, economic cooperation, fighting the Corona epidemic, the war against ISIS, as well as international and regional issues of common interest.


The US ambassador in Baghdad comments on the “Farhati” crime and addresses a request to the Iraqi authorities


The US ambassador to Iraq


2020-10-18 08:28

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Shafaq News / The American ambassador in Baghdad, Matthew Tueller, called on Sunday, the Iraqi authorities to expedite the bringing to justice of the perpetrators responsible for the “Farhati” crime in Salah al-Din, in which eight young men were killed.

In a statement received by Shafaq News Agency, Tueller said, “The United States condemns the heinous murder that took place yesterday, in which Iraqi civilians were killed in the village of Al-Farhateya in Balad in Salah Al-Din Governorate.

He added, “The Iraqi authorities should urgently bring the perpetrators to justice,” expressing his hope that “the visit of Prime Minister Mustafa Al-Kazemi to Al-Farhatia today is an important step to put all armed groups under the control of the state permanently, and it is the only way to stop further bloodshed.” “.

On Saturday (October 17, 2020), unidentified gunmen executed eight young men by firing squad, without knowing the reasons, in the village of Al-Farhatiyeh in Balad District, while four others were missing, according to a security source for Shafaq News.


The Central Bank: A high-ranking delegation headed by Al-Kazemi will start a tour that includes France, Germany and Britain

2020.10.18 – 14:22

Baghdad – People  

The Central Bank of Iraq announced, on Sunday, a tour to France, Germany and the United Kingdom headed by Prime Minister Mustafa Al-Kazemi.  

The bank said in a statement that “People” received a copy, (October 18, 2020), that “the Governor of the Central Bank of Iraq, Mustafa Ghaleb, is participating, accompanied by a high-level government delegation headed by the Prime Minister, this Sunday, in a visit to France, Germany and the United Kingdom. “.  

He added, “The governor is scheduled to meet during the four-day visit with counterparts to discuss a number of common issues, especially removing the name of Iraq from the European Union’s high-risk list as well as discussing the development of banking relations and financial investment between Iraq and these countries due to the economic weight they constitute. In Europe and the world. ”  


Parliamentary Finance: The borrowing law secures salaries for the remaining months of the current year

money and business

Economy News – Baghdad

The Parliamentary Finance Committee confirmed that the government requested the House of Representatives to finance the deficit that reached 41 trillion dinars, indicating that the borrowing law will secure salaries for the remaining months of the current year.
Committee reporter Ahmed Al-Saffar told the Iraqi News Agency, seen by Al-Iqtisad News, that “the government has sent the law on financing the fiscal deficit as a project to the House of Representatives and it has been transferred to the Finance Committee, and we are awaiting the first and second reading and then the vote on it.” Like the 2020 budget, which is a mini-budget because it includes current and investment spending.
He pointed out that “there are about 38 items for current spending, including salaries, retirement, social welfare, medicine, ration card, debts, benefits, oil licenses, and many items that fall within the budget, in addition to an investment budget that includes 72 items for stalled projects that have achieved A high rate of achievement ”.
He explained, “The law is a mini-budget, in which the government requested funding for the deficit that reached 41 trillion dinars, meaning there is a monthly deficit of more than 10 trillion.”
Al-Saffar said, “The approval of this law will secure the government budget for the remaining months of the current year, and it will secure salaries and all other expenses included in the draft law.”


Minister of Finance: The reform paper will raise the level of production and reduce consumption rates

2020/10/18 09:41

The number of readings 83

Section : Iraq

Baghdad / Al-Masalla: Minister of Finance Ali Allawi said, on Sunday, October 18, 2020, that the reform paper identified with a scientific and objective vision the economic and financial problems that have accumulated over decades in the country. 

Allawi said in a statement received by “The Obelisk” that the reform paper identified with a scientific and objective vision the economic and financial problems that have accumulated over decades, and which were not the product of the current stage due to wrong policies that were tired in the past.

He added that these problems and cracks are a real challenge that can be overcome or surpassed by the method of strategic planning based on objective analysis of the reality and extracting strategic goals as urgent priorities to address these problems.

And he indicated that the reform paper boldly identified the most important productive, economic and financial sectors, expanding the field of investment and upgrading the private sector in the short term to advance them quickly in support of improving income and creating decent job opportunities, which would reduce unemployment and poverty rates in society.

He stressed that it will also work to activate official institutions and civil society organizations to support the wheel of production, raise the level of productivity on which it relies heavily, and reduce consumption rates.

Earlier, Minister of Finance Ali Allawi confirmed, on Saturday, October 17, 2020, that there is a growing political will to carry out the fundamental reforms required for the country to address the massive liquidity crisis that has pushed Iraq to the brink of collapse.

Allawi said that there is more will now than it was five months ago now, I think there is recognition that unless oil prices rise miraculously, this is something we have to deal with and manage, according to the Associated Press.

He added that the reform paper is designed to create a strategic and political framework for a new Iraqi economy. At the end of this period of change and reform, we are supposed to have a restructured and more dynamic economy. This is the aim of it.

“The lack of support from major political elites has undermined similar efforts in the past. Al-Kazemi’s government continues to rely on parliament approval for the vision to gain momentum.

Allawi said that at a later time, aspects of the plan outlined in the paper will be incorporated into the 2021 budget, which will require a vote in Parliament, and government support in the electricity and oil sectors will face special scrutiny.

It is noteworthy that Al-Kazemi announced, last June, that his government was preparing a “white paper” that includes expected financial reforms.




Central Bank: The dollar’s exchange rate is fixed and our foreign currency reserves are good

2020/10/18 11:47

The number of readings 92

Section : Iraq

Baghdad / Obelisk: The Central Bank confirmed, Sunday, October 18, 2020, that the exchange rate of the dollar against the Iraqi dinar is fixed and has not changed, indicating that its foreign currency reserves are very good and enable it to overcome the current crisis that the country is going through.

The bank said in a statement received by the “obelisk” that the statements that have spread recently regarding the reduction of the Iraqi dinar exchange rate against the dollar represent the viewpoint of those who stated it and do not represent the official position of the Central Bank. This was accompanied by a number of rumors launched by speculators, which temporarily affected the price. .

He added that the exchange rate is fixed and has not changed, and that its monetary policy is clear and transparent, noting that its foreign currency reserves are very good according to all international indicators and in a way that enables it to overcome the current crisis that the country is going through.

The Central Bank called on the media to exclusively approve the CBE sources in this regard.