China: The agreement with Iraq will be effective soon, and the annual volume of exchange has reached 30 billion dollars

Political| 01:48 – 05/05/2021


Baghdad – Mawazine News
China announced, on Wednesday, that the agreement with Iraq will be activated soon, while noting that the annual volume of exchange between the two countries has reached 30 billion dollars.
“The annual volume of exchange exceeded 30 billion dollars annually,” said Chinese Trade Counselor Xu Chun, during a press conference with Chinese Vice Ambassador Jian Fangning, through a closed circuit to introduce the Chinese development achievements and the development of economic and trade relations between Iraq and China. 2019, the volume of exchange reached 33 billion and 300 million dollars, but last year it decreased to 30 billion and 200 million dollars, as a result of the decline in world oil prices.
He added that “China is still considered the largest importer of Iraqi crude oil despite the decrease in imports due to the repercussions of the Corona pandemic.”
On the date of implementation of the agreement signed between Iraq and China, he explained that “the Chinese Sancho Foundation is working closely with the Iraqi Ministry of Finance and the Central Bank to address technical issues,” stressing that “the Sino-Iraqi agreement will be activated as soon as possible and there is a serious intention in this regard.”

Continuous decrease in the sales of the Central Bank of Iraq of dollars

EconomybreakingDollarcentral bankdropsales 2021-05-05 06:17A-AA +

Shafaq News / The Iraqi Central Bank’s hard currency sales decreased, on Wednesday, to $ 167 million.

The correspondent of Shafaq News Agency stated that the Central Bank of Iraq witnessed during its auction for the sale and purchase of foreign currencies today a decrease of 4.57% in its sales to reach 167 million and 300 thousand dollars, which the bank covered at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Tuesday, where Sales reached 175 million 214 thousand and 174 dollars.

The purchases amounting to 139 million and 900 thousand dollars went to strengthen the funds abroad in the form of transfers and appropriations, while the remaining amount of 27 million and 400 thousand dollars went in cash.

Our correspondent indicated that 33 banks have responded to requests to enhance assets abroad, 19 banks to meet cash requests, and 14 participating exchange companies.