In A Graphical Analysis.. The Months With The Most And Least Impact On The Fluctuations Of The Dollar Against The Dinar Since 2005
Time: 2025/02/28 12:20:11 Read: 2,235 times {Economic: Al Furat News} Economic expert Manar Al-Obaidi stated that the exchange rate of the Iraqi dinar against the US dollar in the parallel market has witnessed noticeable fluctuations over the course of twenty-one years, as a result of being affected by political, legislative and economic factors, with supply and demand dominating as the most influential factors.
Al-Obaidi explained in a statement received by {Euphrates News} a copy of it, after analyzing the exchange rate data from 2005 to 2024, that there is a recurring pattern that reflects the dinar’s value being affected by specific months more than others.
He pointed out that December was the month with the most frequent increase in the value of the dinar, as it witnessed a decline in the exchange rate against the dollar in thirteen years out of twenty-one.
He added, “It is followed by August and June with increases in the value of the dinar against the dollar in eleven years, then April with ten times, while October and November witnessed an increase nine times, and March eight times.”
Al-Obaidi continued, “As for May, it was the month with the least frequent decrease in the value of the dinar, as its value rose during it only four times throughout the period studied, which gives the impression of a relationship between the seasonality of demand and the exchange rate, as the value of the dinar usually rises in the months of February, March and April, then declines again in May with the return of strong demand.”
The economic expert noted that “despite this clear seasonal effect, there are other factors that cannot be ignored, such as the levels of dollar sales by the Central Bank of Iraq, which directly affect the size of the money supply in the market, in addition to the timing of the general budget launch and geopolitical factors that may cause sudden disturbances in the demand for foreign currency.”
He pointed out that the seasons of the year remain one of the main elements in determining the exchange rate trends in Iraq, as a recurring pattern appears at the end of the year and the beginning of the fiscal year, in addition to the market being affected by official holidays in countries exporting goods to Iraq.
However, monetary policies and political and economic developments continue to have a direct impact on the parallel market, making it necessary to monitor all these variables to understand exchange rate changes more accurately.” LINK
The Central Bank Calls On The Ministry Of Culture To Decide The Fate Of 23 Boxes Filled With Gold And Historical Artifacts
Buratha News Agency107 2025-03-01 The Central Bank of Iraq, on Saturday, invited the Ministry of Culture to provide 23 boxes containing gold and historical artifacts to enhance Iraqi museums.
A statement from the Central Bank stated that, “In light of Baghdad being chosen as the Arab Tourism Capital for 2025 by the Arab Tourism Organization, and in order to provide Iraqi museums with original artifacts to be a tourist destination that attracts tourists from all over the world, the Central Bank of Iraq confirmed the existence of about 23 boxes containing gold and historical artifacts, such as the Nimrud artifacts, which were deposited in the vaults of the Central Bank of Iraq in previous years to preserve them.”
The bank also called on the Ministry of Culture to receive these trusts to enhance the contents of the Iraqi National Museum and other museums. https://burathanews.com/arabic/news/457006
Prime Minister’s Advisor: The Central Bank Is Moving Towards Issuing A Digital Currency As A Gradual Alternative To Paper Currency
Saturday 01 March 2025 10:49 | Economic Number of readings: 373 Baghdad / NINA / The financial advisor to the Prime Minister, Mazhar Mohammed Salih, announced today, Saturday: “The Central Bank is moving towards issuing a digital currency, as a gradual alternative to paper currency,” explaining the benefits of issuing a digital currency specific to the Central Bank, while indicating that its issuance will represent a qualitative leap in the national payment system and enhance transparency.
Salih said, according to the official agency: “This step will achieve many benefits, including reducing cash leakage, reducing printing costs, and limiting the circulation of paper currency outside the banking system, in addition to reducing the need to print money repeatedly, which reduces the costs associated with its production and distribution, in addition to enhancing transparency and control over financial flows and the ability to track digital liquidity and spending trends, whether consumer, savings, or investment, in addition to improving control over capital and foreign transfers, and supporting efforts to combat money laundering.”
He pointed out: “Digital currencies contribute to achieving financial inclusion, especially for the groups least integrated into the banking system, which contributes to enhancing economic and social integration.”
He noted that: “The transition to digital currency requires a strong technical infrastructure, including reliable and advanced internet networks, advanced cybersecurity systems to protect data and transactions, as well as promoting a culture of societal acceptance of digital currencies, starting with government agencies, through their use in collection operations and official transactions.”
The advisor stressed: “Digital cash will maintain its traditional functions as a unit of account, payments and savings, with the possibility of using it over the internet and smartphones, which contributes to the development of a more stable and efficient financial environment.” https://ninanews.com/Website/News/Details?key=1189385
Prime Minister’s Advisor: The Central Bank Is Moving Towards Issuing A Digital Currency As A Gradual Alternative To Paper Currency
Saturday 01 March 2025 10:49 | Economic Number of readings: 373 Baghdad / NINA / The financial advisor to the Prime Minister, Mazhar Mohammed Salih, announced today, Saturday: “The Central Bank is moving towards issuing a digital currency, as a gradual alternative to paper currency,” explaining the benefits of issuing a digital currency specific to the Central Bank, while indicating that its issuance will represent a qualitative leap in the national payment system and enhance transparency.
Salih said, according to the official agency: “This step will achieve many benefits, including reducing cash leakage, reducing printing costs, and limiting the circulation of paper currency outside the banking system, in addition to reducing the need to print money repeatedly, which reduces the costs associated with its production and distribution, in addition to enhancing transparency and control over financial flows and the ability to track digital liquidity and spending trends, whether consumer, savings, or investment, in addition to improving control over capital and foreign transfers, and supporting efforts to combat money laundering.”
He pointed out: “Digital currencies contribute to achieving financial inclusion, especially for the groups least integrated into the banking system, which contributes to enhancing economic and social integration.”
He noted that: “The transition to digital currency requires a strong technical infrastructure, including reliable and advanced internet networks, advanced cybersecurity systems to protect data and transactions, as well as promoting a culture of societal acceptance of digital currencies, starting with government agencies, through their use in collection operations and official transactions.”
The advisor stressed: “Digital cash will maintain its traditional functions as a unit of account, payments and savings, with the possibility of using it over the internet and smartphones, which contributes to the development of a more stable and efficient financial environment.” https://ninanews.com/Website/News/Details?key=1189385
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