Claim OwnershipMy FX Buddies
Subscribed: 2Played: 19
Subscribe
© Tish Washington
Description
Iraqi news mostly regarding movement in the process of them increasing the value of their currency the Iraqi Dinar. Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
360 Episodes
Reverse
His financial advisor: The dollar exchange rate in the parallel market is gradually approaching the official one
link
Today, Thursday, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, explained the dangers of the exchange rate fluctuations in the event that demands for floating the dinar are met, while confirming that the dollar exchange rate in the parallel market is gradually approaching the official one.
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
Economist reassures: Financial liquidity is available and there are no risks to the Iraqi dinar
link to My FX Buddies Blog
Economic affairs expert Safwan Qusay confirmed that financial liquidity is available and there are no high risks regarding the existence of the Iraqi dinar.Qusay said, in a televised interview followed by Mawazine News, that “oil revenues rose during the first three months of this year, and this is thanks to the current government’s policy and with Muhammad Shiaa Al-Sudani personally supervising this success.”
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
A fixed or fixed exchange system for the Iraqi dinar
link to My FX Buddies Blog
Rentier countries seek to adopt a fixed exchange system (pegged) to a strong foreign currency or several currencies (a basket of currencies) to ensure the stability of foreign transactions, as long as they export one depleted commodity and import many goods and services, and they are called “small open countries.”
Despite the agreement that the floating currency system is considered the best in terms of relative response to the performance of the external economy and the lack of need for sometimes excessive use of foreign reserves to defend the official value in the peg system, the abundance of reserves and the need for stability in foreign transactions have a major impact on the economy. Overall, rentier countries are likely to adopt a fixed exchange rate system.
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
Prime Minister's Advisor: We will see the dollar fall on the black market soon
link to My FX Buddies Blog post
Al-Shammari said in a press statement received by Al-Maalouma, that “the classification of financial institutions in Iraq according to World Bank reports is positive, and the Central Bank’s classification is A++ and exceeds the Emirati classification.”
He added, "Iraq wants to join the international banking system, and on this basis the government has taken positive measures in this regard."
He confirmed, "The increasing percentage of merchants joining the platform rose from 28% to 78%," noting that "the demand for the official dollar has increased, and we will witness its decline on the black market in the coming period."
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
The Association of Private Banks appreciates the efforts of the government and the Central Bank to create understandings with the Treasury, the Federal Reserve, and international banks
link to My FX Buddies Blog
Al-Handal appreciated the efforts of the Iraqi government and the Central Bank of Iraq to create deeper understandings with international banks, the Federal Reserve, and the US Treasury to expand the integration of the Iraqi banking sector into the global financial system, in addition to supporting the Iraqi dinar, which led to a gradual rise in its value
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
Completion of the files for the initial offer of goods and services within the files for accession to global trade
link to My FX Buddies Blog
Al-Ghurairi pointed out that "the World Trade Organization (WTO) and the international circles welcomed Iraq's return to the negotiating table, especially since it is one of the important Arab economies that is still outside the organization, as he described this progress in terms of the accession file as being one of the most active files among the Arab countries and observers."
The Minister stated, “The Department of Foreign Economic Relations, through official channels of dealing with the organization, is working on completing all requirements for accession in order for Iraq to obtain membership in the organization and enhance Iraq’s integration into the multilateral trading system.”
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 concluding his official visit to the United States of America, which included holding a series of meetings, discussions, seminars, dialogue sessions, and other events, which are As follows:■ Meeting with US President Joseph Biden■ Receiving Secretary of State Anthony Blinken■ Visiting the Pentagon headquarters and meeting with Secretary of Defense Lloyd Austin
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 structural imbalances: mainly that the Iraqi economy is wholly dependent on oil export revenues, and demand for goods and services is met through imports handled by a largely informal private sector.
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 its complete cancellation by the end of the year, and to maintain it for audit and statistical purposes, in an effort to enable Iraqi banks to establish and establish solid banking relationships with the global and regional banking sector in order to achieve the sobriety of the Iraqi banking sector and full commitment. According to international standards and requirements.Iraq relies on the platform for selling currency directly to local banks and companies, which was previously known as the daily dollar auction, as one of the mechanisms for preserving the value of the Iraqi dinar and combating speculative operations in the parallel market.
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 sustainable strategic partnership based on mutual respect.” .
She added, "The files that will be discussed, whether economic, security, or political, must certainly benefit Iraq and have a role in the recovery of the economy and the return of stability to the dinar price."
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 as productive partnerships with various countries of the world.”
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 future will be better.
Al-Awadi said in an interview with “Baghdad Today” that “after the issue of activating the strategic framework agreement between Washington and Baghdad and the security aspect, the economic file will be present and strongly during the Prime Minister’s visit to the United States,” indicating that “the relationship with the US Treasury and the Federal Bank continues and the dialogues are ongoing.” "It did not stop with them over the past year, as there were several mutual visits, announced or unannounced, to discuss this file."
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 statement, seen by Ultra Iraq, which came as “an emphasis from the government on transparency in economic work, and informing public opinion and the national and international media of Iraqi economic performance.”
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 system in the branches of Al-Waziriya and Al-Ma’rifa in Baghdad and Al-Shuhada in Holy Karbala, thus joining the branches in which the comprehensive system was implemented, the last of which was at the border crossings (Zarbatiyah - Safwan - Arar - Trebil) in an important step to abandon paper work and move completely towards... Electronic transformation.
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 liquidity and the printing of money by the Central Bank, as well as the high volume of cash liquidity. In the hands of the street, citizens or capital owners, away from Iraqi banks. Recently, trends and numbers indicate that a reverse process has begun to take place in Iraq, which consists of reducing cash and getting rid of “surplus printed money” without printing new money in front of it, and increasing banks’ possession of this liquidity instead of leaving it in the hands of the street and citizens, where it can be said that the government and the banking sector And finance in general in Iraq began to “nibble” the existing liquidity and “dry it out” from the hands of the people.
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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, Richard Abdel Nour, and a number of experts and specialists.”She added, "During the meeting, priorities for development projects and ways to support the World Bank to strengthen the financial and business sectors and improve the investment environment were discussed," noting, "It was emphasized that continued bilateral coordination to promote sustainable development was discussed, in addition to discussing the Bank's support for the government program for economic reform in Iraq."
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 issued by Al-Sudani’s office and received by Shafaq News Agency.
The statement conveyed that Bin Salman, in a letter he sent to Al-Sudani, referred to the close relations between the Kingdom of Saudi Arabia and Iraq, and that his participation will have a good impact on the success of the meeting’s work
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 dollar is on its way to further decline and is subject to supply and demand.”
He stated, “70% of Iraqi merchants deal with the platform, up from only 10%.”
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 out various banking transactions via the Internet or Through the mobile application, such as transferring money, paying bills, and requesting banking products,” he pointed out that “the system will also contribute to enhancing compliance with international standards and the requirements of the Central Bank of Iraq, which enhances transparency and security in banking operations.
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
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 April 15, President Joe Biden will welcome Iraqi Prime Minister Muhammad Shia al-Sudani to the White House to coordinate on shared priorities and advance the strong bilateral partnership between the United States and Iraq.
---
Support this podcast: https://podcasters.spotify.com/pod/show/tish-washington8/support
Comments
Download from Google Play
Download from App Store
United States