My FX Buddies

A reading of the Central Bank’s decision to allow “importing the dollar”... What does it mean and how? link The instructions issued by the Central Bank of Iraq yesterday, Wednesday (November 8, 2023), regarding allowing banks to import foreign currency from abroad, raised a number of questions and discussions in economic circles about the legality, motives, and goals of this step. The discussion w...

Economist: The dollar exchange rate will be equal to the government price early next year link    Academic and economic expert Khaled Haider expected, on Tuesday, that the exchange rate of the US dollar against the Iraqi dinar on the black market would stabilize in parallel with the government pricing,  starting next year .   Haider said in a statement to Shafaq News Agency, “The global political...

Is there a conspiracy against the Iraqi dinar? Revealing the secret of the stagnation of the local market link The economic expert, Bassem Jamil Antoine, revealed today, Sunday, the secret of the stagnation of the local market, while confirming the existence of a conspiracy against the Iraqi dinar. Antoine said {to Al-Furat News} that: “The stagnation of the local market is due to the citizen’s de...

Replacing the dinar with the dollar   link Finally,  the Central Bank of Iraq announced in a statement last week that “the coming year will witness the restriction of all internal commercial and other transactions to the Iraqi dinar instead of the dollar, except for those delivered to travelers.” Fin ancing foreign trade will be directly for merchants dealing in remittances outside the electronic...

The dollar ignites Baghdad.. A citizen threatens to burn a bank and exchange companies close Al-Rashid Street Big Surprise!!! link A video recording monitored by Jarida, today, Thursday, showed a citizen threatening to burn a bank because he refused to hand over his deposits in US dollars, which raised fears of a repeat of the Lebanese experience in Iraq. According to the circulating video, the ci...

“The dollar is out of control.” What will happen in Iraq’s banks on Sunday? The spark started from Reuters link   An informed banking source in Baghdad expected that next Sunday will be an “unusual day” in all Iraqi banks, and may witness unprecedented overcrowding and crowding at cash withdrawal windows, after a dramatic statement by an official from the Central Bank to Reuters, that withdrawing...

An economic expert details the cash conversion cycle of the Iraqi dinar link The economist, Salah Nouri, detailed the monetary conversion cycle of the Iraqi dinar. Nouri said {to Al-Furat News} that: “The monetary cycle {the Iraqi dinar} exists between the Central Bank, as the monetary authority and the only authorized one to issue the national currency, and the Ministry of Finance, as the financi...

Al-Sudani: Iraq is on the right track link Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Saturday (September 30, 2023), that Iraq is on the right track by honoring the first students to graduate from preparatory school for the academic year 2022-2023. A statement from the Prime Minister's Media Office, received by "Baghdad Today", said, "Al-Sudani honored the top stud...

Al-Sudani returns to the country after concluding his visit to New York link    they even tweeted about him being home too Prime Minister Muhammad Shiaa Al-Sudani returned, on Saturday, to Iraq after concluding his participation in the meetings of the 78th session of the United Nations General Assembly in New York, where he held many meetings with senior participating officials. The Sudanese Media...

Biden extends an invitation to meet Sudanese at the White House link to see this article in full and more go to: My FX Buddies Blog The leaders of the coordination framework remained silent about the news of the invitation sent to Prime Minister Mohamed Al-Sudani, who has been in New York for days to attend United Nations meetings, to meet with US President Joe Biden. During recent weeks, there we...

The US Assistant Secretary of the Treasury arrives in Baghdad to meet with Central Bank officials link The US Ambassador to Iraq, Alina Romanowski, announced on Tuesday the arrival of Assistant US Treasury Secretary Elizabeth Rosenberg to the capital, Baghdad. “I am pleased to welcome US Treasury Secretary Elizabeth Rosenberg to Baghdad,” Romanowski said in a blog post on the She indicated that &q...

Iraq's Qi Card to work with Samsung link Samsung Electronics Middle East has signed a memorandum of understanding (MoU) with Iraq's Qi Card. According to a press release from Samsung, the partnership " aims to provide advanced technological products and solutions to traders, citizens, and agents of both companies with attractive commercial offers throughout Iraq. " It adds: &quot...

Iraqi Foreign Minister: I do not think that al-Sudani will meet with Biden link But he will head the delegation in New York.   Iraqi Foreign Minister Fuad Hussein said that Prime Minister Muhammad Shia al-Sudani will head the Iraqi delegation to the meetings of the United Nations General Assembly in New York, and that he will deliver a speech and meet with a large number of world leaders.  

The Iraqi Dinar Support Committee intends to take new measures to limit the dollar's rise in the markets. link to see this article and more go to: My FX Buddies Blog A member of the committee, Omar Al-Sudani, said in a statement followed by “Earth News”, that “the committee, headed by the advisor to the Prime Minister, Qassem Al-Dalimi, recently took a decision to open accounts for merchants i...

Al-Alaq: The US Federal Reserve is asking us about the truth about “Indomie”... Do you like it ?that muc h  link to see this article in full and more go to: My FX Buddies Blog The Governor of the Central Bank, Ali Al-Alaq, said, on Wednesday, that the international committees are asking the Iraqi authorities about the fact that .“Indomie” was imported in large quantities This came during a meeting...

To see this article in full and more go to: My FX Buddies Blog link Will digital banks lure out cash under Iraqi mattresses? In Iraq, years of economic and political instability have created an environment of mistrust that is leading many to avoid depositing their money in banks. The preference is to store cash at home. This tendency has undermined Iraq’s ability to develop its banking system, whi...

The Sudanese government acknowledges the experience of dollar speculators and counts on September link to see this article in full and more go to: My FX Buddies Blog  On Sunday, the Iraqi government expressed its hope that the release of budget funds would contribute to reducing the price of the dollar in the parallel market, while it acknowledged that currency speculators have long experience and...

The tripartite budget comes into effect link   Today, Monday (August 7, 2023), the Iraqi Al-Waqa’i newspaper published the instructions for the tripartite budget, which entered into force. The Director General of the Iraqi Fact Sheet, Hanan Munther Nassif, said in a press statement followed by "Baghdad Today", that "the law's instructions for the tripartite budget have been publ...

And finally.. 50 days after its approval.. the budget enters into force link to see this article and more go to: My FX Buddies Blog The Parliamentary Finance Committee confirmed, today, Saturday, that the federal budget law will enter into force during the current week, pointing out that the budget instructions will be circulated to all ministries. Committee member Thamer Dhiban Al-Hamdani said in...

Central Bank: New decisions will be issued next week to reduce the price of the dollar in Iraq link    Today, Thursday (August 3, 2023), the Central Bank of Iraq revealed  new decisions that will be issued next week to reduce the price of the dollar in Iraq.. to be continued On Thursday, the Central Bank identified three categories of exchange companies for selling the dollar to travelers, and whi...

World Bank: Iraq is witnessing a strong recovery link The World Bank confirmed today, Monday, that Iraq is witnessing a strong recovery after years of turmoil. And the Regional Director of the Middle East Department at the World Bank, Jean-Christophe Carré, said in a statement received by the Iraqi News Agency (INA), that "Iraq is witnessing a strong recovery after many years of turmoil.&quot...

The dollar is "losing its mind" and is accelerating upward..Customers of "banned banks" flock to the parallel market link to see this article in full and more go to: My FX Buddies Blog The exchange rates of the dollar against the dinar rose to unprecedented levels for months, as the selling price exceeded the 155,000 barrier, with the release of budget funds, as well as the ban...

A statement from the Central Bank regarding the campaign to support the Iraqi dinar link to see this article in full and more go to: My FX Buddies Blog Today, Sunday, the Deputy Governor of the Central Bank, Ammar Khalaf, announced the success of the campaign to support the dinar, and while confirming the application of controls that helped stabilize the exchange rate, he pointed out that there is...

XRP Pair with Iraq Dinar (IQD) Ignites Speculation on the Growth of XRP In Iraq link to see this article in full and more go to: My FX Buddies Blog In recent developments, Ripple appeared unperturbed about the possible outcome of its protracted lawsuit with the United States Securities and Exchange Commission (SEC). The cross-border crypto firm has continued to grab headlines in the crypto sphere...

Ninth in the world.. How much is the market value of Iraq's wealth estimated? link to see this article in full and more go to: My FX Buddies Blog The financial advisor to the Prime Minister, Mazhar Muhammad Salih, estimated, on Saturday, the market value of Iraq's resources and their sequence at the level of the countries of the world. Saleh said, in a statement to the official agency, whi...