October 30, 2014

News About Iraqi Dinar

Iraqi Dinar Exchange Rate

Currency Exchange News

Reserve Bank of New Zealand leaves official cash rate at 3.5%

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/EgdrpF5VmTI/reserve-bank-of-new-zealand-leaves-official-cash-rate-at-3-5-281464

Investing.com –

Investing.com – Below is the full text of Governor Graeme Wheeler’s statement announcing the Reserve Bank of New Zealand’s decision to leave the Official Cash Rate unchanged at 3.5% Thursday:

“Statement issued by Reserve Bank Governor Graeme Wheeler: The Reserve Bank today left the Official Cash Rate unchanged at 3.5 percent.

The global economy is growing at a moderate rate although recent data suggests some softening in the major economies, apart from the United States. Monetary policy is expected to remain supportive for longer in all the major economies. Growth in the New Zealand economy has been faster than trend over 2014, reducing unemployment and adding to demands on productive capacity. Strong construction sector activity, high net immigration, and interest rates, which remain low by historic standards, continue to support the expansion.

Output growth is expected to moderate over coming years, towards a more sustainable rate. Lower commodity prices and increased global financial market volatility have taken some pressure off the New Zealand dollar. However, its current level remains unjustified and unsustainable and continues to constrain growth in the tradables sector. We expect a further significant depreciation. CPI inflation remains modest, and was 1 percent in the year to September. Contributing factors are subdued wage inflation, well-anchored inflation expectations, weak global inflation, falls in oil prices, and the high New Zealand dollar. House price inflation has fallen significantly since late-2013, in part due to interest rate increases and the LVR restrictions.

The economy appears to be adjusting to the policy measures undertaken by the Bank over the past year. CPI inflation is currently at a low level despite above-trend growth. However, inflation is expected to increase as the expansion continues. A period of assessment remains appropriate before considering further policy adjustment.”

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Central Bank: No intention to invest our reserves

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/EZPchD1kFzw/central-bank-no-intention-to-invest-our-reserves-281388

The governor of the bank on the Keywords in a statement received news agency public opinion (and babysit) a copy of it, on Wednesday, that “there is no intention by the bank to invest its reserves of currencies and gold.”

Keywords and added that “the investment of these reserves are incompatible with the objectives of the central bank and the law.”

The central bank announced in October 2013, for the arrival of the size of its reserves of hard currency to 76 billion and $ 500 million, noting that it represents the highest rate up to the bank of the currency in the history of Iraq.

Central Bank of Iraq and held daily for the sale and purchase of foreign currencies with the participation of Iraqi banks sessions, with the exception of public holidays in which the bank stop these auctions, sales and be either in cash or in the form of money orders sold abroad in exchange for a certain commission. Q, Q

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Bank of Japan September minutes shows concerns over exports

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/PhfrUCLvveE/bank-of-japan-september-minutes-shows-concerns-over-exports-278234

Investing.com –

Investing.com – The Bank of Japan agreed that exports remained weak and a few of them were cautious about a sustainable rise in exports, the minutes of the bank’s Sept. 3-4 policy meeting released Friday showed.

Despite sluggish exports and factory output, the nine-member board still believed that the positive domestic cycle from income to spending was in place in both the household and corporate sectors, and that Japan’s economy was likely to “continue its moderate recovery trend,” overcoming the drag from the April sales tax hike.

However, one member questioned whether the 2% sustained inflation target by 2015 was attainable and other board members suggested to more closely monitor inflation expectations.

Data released before the September meeting showed that industrial production rose only 0.2% on month as the sales tax hike continued to dampen domestic demand and overseas demand remained generally sluggish.

The BoJ board decided by a unanimous vote to leave the bank’s policy target unchanged, as expected.

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Sparkling Bank Story

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/fPsPpiamj6E/sparkling-bank-story-277054

Energy Sparkles:   IT IS GREAT WHEN YOU HEAR IT FROM A BANKER. I HAVE TALKED TO SEVERAL – CHASE, WF, BOA AND 1ST CONVENIENCE BANK.

ALL HAVE HAD SOMEONE IN THE BANK THAT KNEW AND SOME THAT DIDN’T. THEY ARE IN 3 DIFFERENT STATES AS WELL.

MY CHASE BANKER KNOWS AND LOOKS FOR ME 3 TIMES A DAY. THEY UPDATE THE VALUES OF CURRENCIES 3 TIMES A DAY: ALL EST 9, 12 & 3.

W.F. IS ONLY AT: EST 9AM.

BOA IS THE SAME AS CHASE AND

CITI BANK IS THE SAME AS W.F.

ALL WHAT I HAVE RESEARCHED OVER THE LAST YEAR.

I HAVE TOLD WF, CHASE & 1ST CONV BANK MANAGERS: “WHO EVER CALLS ME FIRST WILL BE THE BANK THAT I EXCHANGE WITH.”

I HAVE LET THEM KNOW I HAVE 3 DIFFERENT BANKS THAT I BANK WITH, BUT THE 1 THAT CALLS FIRST WILL GET ME FIRST. I GAVE EACH MANAGER MY CARD AND TOLD THEM I HAVE 3 DIFFERENT CURRENCIES THAT SHOULD BE REVALUING. TOLD THEM I WOULD TELL EACH FAMILY MEMBER WITH AN EMAIL THEIR NAME AND NUMBER TO EXCHANGE WITH.

ALL 3 SEEMED TO BE VERY HAPPY THAT I WAS WILLING TO GIVE THEIR INFO TO FAMILY SO THEY WILL GET 20 MORE PEOPLE IN WITH CURRENCY.

I LOVE IT CAUSE THEY WILL BE CALLING ME. BUT IF TONY CALLS WITH 800#’S FIRST THEN GREAT, BUT IF THINGS GOES DIFFERENT THEN I SHOULD BE GETTING A CALL.

WIN WIN IN MY BOOKS.

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Rafidain Bank will resume granting of loans and advances after budget approval

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/oQsxGvkeu7Q/rafidain-bank-will-resume-granting-of-loans-and-advances-after-budget-approval-276245

Twilight News / announced Rafidain Bank, on Saturday, for the resumption of granting personal loans and advances will be launched immediately after the approval of the general budget of the country.

According to informed sources in the bank said in a statement reported for “Twilight News” that “the continuation of suspended advances due to a lack of financial liquidity in banks and non-completion of regulatory procedures with the fact that the cash flow is not sufficient to restore the resumption of firing advances as well as the delayed vote on the budget, which has impacted negatively on the financial situation in the country.”

The sources said that “the Rafidain Bank will put a suitable mechanism for the granting of loans and advances to the citizens and employees differ from its predecessors with the imposition of specific conditions to ensure the sponsors and the interest rate and deduction.”

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Dollar sales rise in the central bank auction on

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/-iS_IvAU67w/dollar-sales-rise-in-the-central-bank-auction-on-275577

Sales of the Iraqi Central Bank of the dollar in the auction on Tuesday to more than 217 million dollars after it reached on Monday, 186 million and 236 000 dollars.

According to a statement of the bank received Agency for News News (et) a copy of the “size of the amount sold by the bank at the auction of the dollar today reached 217 million and seven thousand dollars at the exchange rate in 1166 dinars to the dollar with the participation of 17 banks.”

He pointed out that “the quantity sold in cash amounted to 82 million and 470 thousand dollars, and the quantity sold Khawwalat amounted to 134 million and 537 000 dollars.”

The statement pointed out that “the Iraqi Central Bank continues to buy and sell at a price of 1166 dinars to the dollar and earns commissions mentioned the same.”

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Bank Earnings Take a Hit

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/fZRUK9y1deU/bank-earnings-take-a-hit-275196

It’s been lackluster year for the ISX-listed banks. Total pre-tax profit for the 12 non-Islamic lenders that have reported so far fell 12% in the first half on a 3% decline in operating revenue, an 8% increase in operating expense, and a 21% increase in administrative expense. Earnings dropped at 7 of the 12, with heavyweights Iraqi Middle East Bank (BIME), North Bank (BNOR), Qatar National Bank subsidiary Al Mansour Bank (BMNS), and Burgan Bank subsidiary Bank of Baghdad (BBOB) showing the steepest declines (see chart.)
Falling earnings are unsurprising given the deterioration in the security situation, the central government’s continuing failure to pass a 2014 budget, and, particularly for North Bank, the fiscal crisis in Kurdistan. Months before the fall of Mosul in early June, the banks’ trade finance businesses were already slowing as a result of disruptions to truck traffic from Jordan and Turkey. At the same time, the budget delay has led to a slowdown in construction—another key sector for the banks—while in the Kurdish region the entire state sector appears to be running out of money.
The direct effect of lost business from branches in what are now ISIS controlled areas is probably quite small, however. For the 14 banks for which earnings breakdowns by province are available, Rabee Securities has calculated that the total contribution attributable to Mosul, Anbar, Kirkuk, Salah Ed Din, and Dyala came to just 2.2% of aggregate pre-tax profit. (Mosul Bank and Economy Bank, where the contributions were 30.9% and 29.6%, respectively, are important exceptions. So far neither has released first half results.)
This suggests that rolling back ISIS territorial gains is not necessarily a prerequisite for a recovery in bank earnings growth. Even with a continuation of the status quo, there could easily be a rebound next year if Parliament passes a budget, payments to the KRG are resumed, and progress can be made in reopening major highways and/or rerouting trade around danger zones.
The hit to bank earnings is likely to be only temporary.

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Lower central bank sales in the auction today

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/XOKtSBOUbkE/lower-central-bank-sales-in-the-auction-today-274389

Brother – Baghdad: Sales fell CBI of the dollar in the auction Tuesday slightly from yesterday, today, reaching 236 million dollars after it reached on Monday, 237 million and 698 000 dollars.

According to a statement of the bank received Agency for News News (et) a copy of the “size of the amount sold by the bank at the auction of the dollar today reached 236 million and 497 000 dollars at the exchange in 1166 dinars to the dollar with the participation of 19 banks.”

He pointed out that “the quantity sold in cash amounted to 60 million and 605 000 dollars, and the quantity sold Khawwalat amounted to 175 million and 892 000 dollars.”

The statement pointed out that “the Iraqi Central Bank continues to buy and sell at a price of 1166 dinars to the dollar and earns commissions mentioned the same.”

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Governor of the Central Bank must take preventive measures to curb corruption

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/S1Swm1k7qf0/governor-of-the-central-bank-must-take-preventive-measures-to-curb-corruption-274191

Agencies – stressed the central bank governor on the Keywords on the need to take preventive measures to reduce the phenomenon of corruption in state institutions.

Alak said in a press statement on Saturday, that “end corruption Aladerara be in political administration by placing the right person in the right place and to have the ability to control the operations and reduce corruption.”

He added that “change regulations and policies and procedures that institutions operate and activate the work of a single window, and the introduction of e-governance will contribute significantly and effectively in the elimination and reduction of the phenomenon of corruption rampant in the number of institutions.”

And spread the phenomenon of corruption and financial administrative system in most state departments and government institutions, where Iraq occupied an advanced rank in the spread of the phenomenon of corruption in the country. SS

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Rafidain Bank: ATM positive movement for daily trading

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/Oe2L8owRI9w/rafidain-bank-atm-positive-movement-for-daily-trading-274194

Follow-up – and babysit – considered the Rafidain Bank (ATM) step have a positive impact on the movement of daily trading to individuals and companies.

The bank said in a statement received news agency public opinion (and babysit), “The ATM is part of the evolution of the payments system in the developed world economically,” and that “the provision of such advanced technology facilitates the deposit and withdrawal of citizens without the need to exchange cash manual.”

“The services provided by this system include the withdrawal and deposit amounts and change the account and transfer money from one account to another and it is specific to deduct wages from the balance of the customer.”

The bank announced earlier start working system Visa card. SS

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