May 23, 2015

News About Iraqi Dinar

Iraqi Dinar Exchange Rate

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Bank of Japan votes 8 to 1 to keep policy steady, Kiuchi dissents again

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/KLCDeF8mNjA/bank-of-japan-votes-8-to-1-to-keep-policy-steady-kiuchi-dissents-again-316667

Investing.com –

Investing.com – The Bank of Japan board on Friday voted as expected to keep monetary policy steady, with Takahide Kiuchi repeating his call for a lower bond buying target in a singular note of dissent.

Kiuchi wants the BoJ to cut the level of purchases from 80 trillion annually set in October last year to about 45 trillion. The board however did say that private consumption domestically has been resilient and exports are picking up, though downside risks remain from weak growth in Europe.

The overall economic assessment was revised stronger slightly.

“Japan’s economy has continued to recover moderately.” Last month it said the economy “has continued its moderate recovery trend.”

The BoJ also said the economy is expected to “continue recovering moderately,” slightly different from last month’s outlook that it will “continue its moderate recovery trend.”

“Private consumption has been resilient against the background of steady improvement in the employment and income situation,” the BOJ said, sounding more upbeat in light of higher-than-expected GDP growth in the January-March quarter, led by consumer spending and a rise in inventories.

“The year-on-year rate of increase in the CPI is likely to be around zero percent for the time being, due to the effects of the decline in energy prices.”

On Wednesday, Japan said the economy gained 0.6% growth in the first quarter, better than expected for an annualized pace of 2.4%.

But “risks to the outlook include developments in the emerging and commodity-exporting economies, the prospects regarding the debt problem and the momentum of economic activity and prices in Europe, and the pace of recovery in the U.S. economy,” it said, warning about both the growth and inflation prospects in Europe.

Governor Haruhiko Kuroda will hold a news conference from 1530 JST (0630 GMT) to 1615 JST (0715 GMT) to discuss the board’s decision.

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Central Bank launches trillion dinars for private banks

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/CyW15CJvs6I/central-bank-launches-trillion-dinars-for-private-banks-316486

Iraqi Central Bank announced on Tuesday the launch of trillion dinars for private banks to finance small and medium enterprises loans, and increase the share of dollar sales for banking companies and foreign transfers, pointed out the development of measures to address the lack of liquidity in some banks.

The central bank said, in a statement received (range Press), a copy of it, that “the Board of the Central Bank, met on Tuesday, Minutes numbered (1525), and decided to increase the share of dollar sales for banking companies and foreign transfers and reducing the length of time for the implementation of foreign remittances,” pointing to “develop measures to address the situation of some private banks and experiencing a shortage of liquidity in order to ensure treatment of their positions.”

He said the central, he “has approved the release of the sum of (1) trillion dinars for private banks to finance small and medium enterprises loans to citizens and approve their own controls,” adding that “the adoption of instructions regulating the work of guaranteed bank loans companies.”
The Central Bank of Iraq, announced in the (first of February 2015), to take five resolutions for “support” the development of the Iraqi economy, stressing his agreement to cover bank accounts abroad to “US dollar” to cover imports, while the importance of “accelerating” legislation Deposit Insurance Law, praised the formation of a committee to reconsider the restructuring benefits among its “approval of the central bank to cover bank accounts abroad in US dollars to cover imports of customers and for other purposes without the need to pass a window sell the currency at the Central Bank of Iraq.”
The Central Bank of Iraq announced earlier, to take the necessary measures to support liquidity in the banking system, and decided to facilitate the procedures for the sale of foreign currency “to sustain the exchange rate.”
The Central Bank of Iraq, said in (the 18th of January 2015), that the financial reserves of Iraq equivalent and a half times the weakness of the currency bloc, returned as “best rates” in the countries of the world, and as he emphasized that Iraqi financial institutions are “unable” to cover the fiscal deficit, he stressed the need to reconsider the structure of the budget and spending and diversification of income sources and achieve investment more broadly to address the decline in oil prices.

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Japan’s Bank Lending 2.6% vs. 2.5% forecast

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/HrXCxy2nb1c/japans-bank-lending-2-6-vs-2-5-forecast-312420

Investing.com – Japan’s bank lending remained unchanged unexpectedly in the last quarter, official data showed on Tuesday.

In a report, Bank of Japan said that Japan’s Bank Lending remained unchanged at a seasonally adjusted annual rate of 2.6%, from 2.6% in the preceding quarter.

Analysts had expected Japan’s Bank Lending to fall to 2.5% in the last quarterInvesting.com
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Rafidain Bank uses modern techniques in exchanging retirees salaries

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/01qwUslMP2M/rafidain-bank-uses-modern-techniques-in-exchanging-retirees-salaries-312042

Shafaq News / Rafidain Bank announced on Saturday, using modern techniques in paying salaries of retirees through the smart card in its branches in the country.

“The bank has put its capabilities in providing services for retirees and pay their salaries in appropriate time and without delay ,” The general director of the bank , Basem Kamal al-Hassani said in a written statement received by Shafaq News”.

He added that the bank is one of the main pillars and is a national bank leads its services to all sectors ranging from government , private and issues related to citizens who need direct humanitarian service.

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World Bank: Iraq will exceed its financial crisis

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/bMRGuXKo6V4/world-bank-iraq-will-exceed-its-financial-crisis-311859

The World Bank said it would provide a loan to Iraq, repaid over 35 years, at an interest rate of up to 1.5% and expected to contribute to the loan with the help of Iraq in the current financial crisis.
He said the World Bank for the Middle East and Asia adviser, charitable Shban, “The World Bank seeks to help Iraq in its current crisis, which caused big losses to him, hoping that the bank provides loans that will be of great financial and economic interest.”
“The bank is considering providing a loan for Iraq, are repaid in 35 years, with an additional five years with interest to allow up to only 1.5%, making it one of concessional loans, in terms of the conditions and facilities compared to what provided by banks and private institutions.”
He pointed out that “the loan will be devoted to the reconstruction and provision of services to the liberated areas, and encourage investors to work in Iraq after the availability of those loans, expected to be the launch of this loan by next July and father.”
Shban confirmed that the loan would help Iraq to cross its financial crisis this year and the next two years that can be played by and recover a record time.

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Reserve Bank of Australia monetary policy review sees more scope to ease

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/B5GlWHMabV4/reserve-bank-of-australia-monetary-policy-review-sees-more-scope-to-ease-311746

Investing.com –

Investing.com – The Reserve Bank of Australia’s quarterly monetary policy review released on Friday suggests there is further scope to cut the cash rate from a record low 2% as growth may remain below trend.

The RBA cut growth and inflation forecasts as it assesses the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with
targets.

The new forecasts in the quarterly Statement of Monetary Policy assumed the cash rate would move in line with market pricing. Assumptions for the Australian dollar, the trade-weighted index and oil prices were higher compared with February and in line with current prices.

On Thursday the money market was pricing in a maximum of 13 basis points of cash-rate cut by November.

Underlying inflation, which is used to monitor the 2% to 3% target band is seen at 2.50% by December, down from a range of 2% to 3%. GDP is seen at 2.50% growth, down from a range of 2% to 3%.

Further out to June 2017, assessments were also downgraded for both growth and inflation.

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Visit from the World Bank

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/F9V2dUmJfM0/visit-from-the-world-bank-311596

Adam Montana:   [Q.  What do you think will come of the visit from the World Bank to Baghdad? What rating do you think will be issued to Iraq?]

A.  Visit from the World Bank … If it’s significant, we’ll know soon enough. I doubt Iraq will get a top rating immediately, but anything “above mediocre” will be enough to launch them!

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Central Bank of Iraq to print 50 000 dinar notes

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/aQOny_cMZVg/central-bank-of-iraq-to-print-50-000-dinar-notes-311287

[unable to retrieve full-text content]The parliamentary economic and investment commission said that the Central Bank of Iraq (CBI) cannot delete the zeros due to the unstable economic situation.

Vice: The Central Bank can not delete the zeros

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/k1CZRYDLqJs/vice-the-central-bank-can-not-delete-the-zeros-311140

[unable to retrieve full-text content]stressed member of the economic and investment commission in Parliament, the Charter of Hamidi, said the central bank can not delete the zeros, because of the unstable economic situation

World Bank to Help Regions Recaptured from IS

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/GkbmSp6WS0k/world-bank-to-help-regions-recaptured-from-is-310970

[unable to retrieve full-text content]The World Bank is seeking to finance development projects in areas recaptured from Islamic State (IS, ISIS, ISIL) militants, according to a report from Reuters.