My FX Buddies

Al-Sudani returns to Baghdad after concluding his visit in Washington link to My FX Buddies Blog The Prime Minister returns to the capital, Baghdad, after concluding his official visit to the United States of America. The Prime Minister’s Media Office said in a statement received by the Iraqi News Agency (INA): “Prime Minister Muhammad Shia al-Sudani returned to the capital, Baghdad, after conclud...

A Fistful of Dinars: Demystifying Iraq's Dollar Auction link to My FX Buddies Blog The Central Bank of Iraq's (CBI) dollar auction has been a continuous source of controversies and conspiracy theories. The main accusations facing it include: the siphoning of dollars to Iran, money laundering, and currency smuggling. Missing from this melee is an understanding of the economy's key struc...

The Article 140 Committee announces the start of distributing the amounts link to My FX Buddies Blog The Article 140 Committee in Kirkuk Governorate announced, on Tuesday, the start of distributing sums of money to the deportees after the arrival of bonds worth more than 8 billion dinars from the public center. The head of the committee, Babiker Siddiq Ahmed, told Shafaq News Agency, “A new batch...

After 21 years of the dollar auction... Iraq is close to closing the window amid reassurances and warnings link to My FX Buddies Blog Iraq is approaching the end of the closure of the dollar selling window at the Central Bank - which has been controversial - over the past two decades. The Central Bank's management plans to gradually cancel the dollar auction during the year 2024, leading to it...

Abdel Wahed: The Sudanese visit to Washington is important and will restore stability to the dinar price link to My FX Buddies Blog Abdul Wahed said in a blog post seen by Mail, “The Prime Minister’s visit to the United States of America comes at an important time, and will be a transition towards a new phase of relations, especially since the visit is evidence of the Iraqi desire to build a susta...

Al-Sudani will stay in America for a week.. And Will Visit TEXAS! link to My FX Buddies Blog He stated that “the goal of the visit is to move relations with the United States to  a new stage that includes activating the provisions of the Strategic Framework Agreement,  which is in line with our government’s program that focuses on economic and financial reforms and other important fields, as well...

The dollar is on the Sudanese dialogue table in Washington.. Al-Awadi talks about the future of the Iraqi dinar link The Iraqi government spokesman, Bassem Al-Awadi, confirmed today, Thursday (April 11, 2024), that the dollar file and the work of banks will be strongly present during the visit of Prime Minister Muhammad Shiaa Al-Sudani to Washington, suggesting that the dinar’s situation in the fu...

Government spokesman: We have adopted the principle of productive borrowing and integration into the international economic cycle link Government spokesman, Bassem Al-Awadi, said on Monday, April 8, 2024, that the government has followed the principle of productive borrowing and integration into the international economic cycle. Al-Awadi issued a state ment, seen by Ultra Iraq, which came as “an e...

Al-Rafidain Bank announces the launch of the comprehensive banking system in its branches in Baghdad and Karbala link Based on the directives of the Minister of Finance, Ms. Taif Sami, regarding the automation of banking work, and with direct follow-up and supervision by the Director General of Rafidain Bank, Dr. Ali Karim Hussein. Al-Rafidain Bank announces the launch of the comprehensive banking...

The beginning of “drying up” liquidity from the hands of the Iraqis.. The destruction of “surplus” currency and deposits in banks are the highest historically link to My FX Buddies Blog Over the past years, all of the economic problems in Iraq internally, whether with regard to corruption, the dollar, high real estate prices, etc., as well as inflation, were directly linked to the high volume of l...

Minister of Finance of the World Bank: We have made plans to accelerate the pace of financial and banking reforms link to My FX Buddies The Ministry of Finance said in a statement received by the Iraqi News Agency (INA): “Minister of Finance, Taif Sami, received today the Regional Director for the Middle East at the World Bank, Jean-Christophe Carré, the Special Representative of the Bank in Iraq,...

Al-Sudani receives an invitation from the Saudi Crown Prince to participate in the World Economic Forum link Today, Monday, Iraqi Prime Minister Muhammad Shia al-Sudani received an official invitation from Saudi Crown Prince Mohammed bin Salman to participate in the special meeting of the World Economic Forum, which the Kingdom will host at the end of next April. This was mentioned in a statement...

Advisor to Al-Sudani: The dollar is on the way to further decline, and 70% of Iraqi traders have entered the platform link to My FX Buddies Blog Fadi Al-Shammari, advisor to the Prime Minister, Muhammad Shiaa Al-Sudani, expected on Wednesday (March 27, 2024) a continued decline in the dollar’s ​​exchange rate against the dinar. Al-Shammari said in a televised statement followed by “Baghdad Today,”...

The National Bank of Iraq announces the success of working with the global “Temenos” systems in compliance with the Central Bank link “Our new banking system, which was launched at the beginning of this year, will contribute to improving the efficiency of operations, which reduces the time and effort spent on completing transactions and enhances their accuracy. The system allows customers to carry...

Al-Sudani will visit Washington next month and discuss the dollar and the development of the military mission link to My FX Buddies Blog White House Press Secretary Karine Jean-Pierre said on Friday that US President Joe Biden will welcome Iraqi Prime Minister Muhammad Shia al-Sudani to Washington on April 15 to discuss common priorities regarding the dollar and developing the military mission. On...

Central Bank of Iraq": Our goal is to preserve the reputation of the banking sector link Deputy Governor of the Central Bank of Iraq, Ammar Hamad, told News Arabia that the bank is working to lift the US ban on dealing in dollars in a number of Iraqi banks, and to preserve the reputation of the banking sector.

Prime Minister: Iraq is about to host important events and conferences link The Prime Minister stressed that “a city the size of the capital, Baghdad, is in dire need of large hotels, due to the tourist movement and official delegations it witnesses, and the fact that it hosts many  Arab, regional and international conferenc es throughout the year, with the hotel occupancy rate currently reaching...

Central Bank to increase the value of the dinar and control the market link The committee discussed with the Governor of the Central Bank the approved international standards, future plans to improve the status of banks, the possibility of expanding relations with international banks, drawing up the structure of banks, and moving towards the electronic payment process, in addition to the possibili...

Financial digitization.. a factor to reduce inflation and absorb hoarded funds link Economic affairs specialists have identified the most prominent advantages that digital transformation can achieve in banking, placing at the forefront of these advantages the elimination of inflation through the use of small denominations, and the absorption of citizens’ hoarded cash mass, estimated at more than 9...

Barzani thanks Bush for liberating Iraq from Saddam's regime link A statement issued by the Presidency of the Region today, Wednesday (March 6, 2024), received by “Baghdad Today”, stated that “as part of his visit to the United States, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, met (yesterday), Tuesday, with former US President George W. Bush.” . During the meeti...

With a dollar bill... Deputy: The US Treasury is putting pressure on Iraq. link Today, Sunday, the representative of the Fatah Alliance, Ola Al-Nashi, accused the US Treasury Department of obstructing the Iraqi government’s reforms in light of waving the economic card through the dollar file. Al-Nashi told Al-Maalouma, “The economics file is more important than politics and what is happening in it...

Iraq continues its efforts to gain membership in the World Trade Organization link The Ministry of Commerce confirmed the government's aspiration to join the World Trade Organization, especially after the Saudi representative in the organization, Saqr Al-Muqbel, was named to manage Iraq's accession file, noting that his recent visit to Baghdad contributed to addressing a number of importan...

The disappearance of 1.2 trillion dinars.. link Data from the Central Bank of Iraq shows a decrease in the amount of printed currency by 1.2 trillion dinars between the months of November and December 2023, while Al-Sumaria News concluded, through a historical review of the printed currency, that this decrease in the amount of currency is the third largest decrease recorded in 20 years.    Accordi...

Prime Minister: The importance of the partnership between Iraq and the United States link The Prime Minister stated, according to a statement, a copy of which {Al-Furat News} received, "the importance of the partnership between Iraq and the United States, stressing the transition to a bilateral relationship governed by the strategic framework agreement between the two countries, after complet...

The President of the Republic: Iraq has an opportunity to be one of the most advanced countries in the region link The President of the Republic, Abdul Latif Jamal Rashid, confirmed: “Iraq has an opportunity to be one of the most advanced countries in the region.” The media office of the President of the Republic stated in a statement: “The President of the Republic, Abdul Latif Jamal Rashid, rece...