Reasons For The Decrease In The “Temporary” Dollar Exchange Rate In Iraq
Economy | Baghdad today – Baghdad The specialist in the economic affairs, Nasser Al-Tamimi, commented today, Sunday (2 March 2025), the continuous decrease in the dollar exchange rate in the local markets days ago.
Al -Tamimi told “Baghdad Today”, that “the decline in the exchange rate of the dollar in the local markets is temporary, due to the lack of demand for it currently in the market due to the month of Ramadan, where there is a decline in the demand process as well as shopping in dollars such as cars, real estate and other issues sold in dollars.”
And that “this decrease is temporary and will return to rise again, especially with the near days of Eid Al -Fitr, after which it will return to its position between (150 and 151) per 100 dollars,” noting that
“this decrease did not come due to real remedies for this long time, but the
real reason is the lack of demand during these days.”
The dollar exchange rate continued, today, Sunday (2 March 2025), a decrease in the local stock exchange, down to record levels for the first time in several months.
The “Baghdad Today” correspondent said that the dollar prices, on the struggle and Al-Harithiya stock exchanges in the capital, Baghdad, recorded, on Sunday afternoon 146,800 thousand dinars for $100.
https://baghdadtoday.news/268975-أسباب-انخفاض-سعر-صرف-الدولار-المؤقت-في-العراق.html
Central Bank: Gold Reserves Grow By 45.1 Percent
Sunday 02 March 2025 11:30 | Economic Number of readings: 339 Baghdad / NINA / The Central Bank of Iraq announced today, Sunday, that gold reserves recorded a growth of 45.1 percent.
The Central Bank said in a statement: “The gold reserves of the Central Bank of Iraq recorded a growth of (45.1%) in the fourth quarter of 2024 compared to the same quarter of the previous year, as they rose from (12.29 trillion dinars in the fourth quarter of 2023 to (17.83) trillion dinars for the same quarter in 2024 as a result of the increase in the amount of gold and gold prices.”
He added that “this carries great benefits as it enhances economic and financial stability and protects against risks, and is considered an important tool for intervening in the exchange market.” /https://ninanews.com/Website/News/Details?key=1189541
Iraq’s Oil Exports To America Declined Last Week
Sunday 02 March 2025 12:01 | Economic Number of readings: 281 Baghdad / NINA / The US Energy Information Administration announced today, Sunday, that Iraq exported more than 200 thousand barrels to America during the past week.
The administration stated in a table, “The average US imports of crude oil during the past week from 9 major countries amounted to 5.535 million barrels per day, up by 260 thousand barrels per day from the previous week, which amounted to 5.275 million barrels per day.”
It added that “Iraq’s oil exports to America amounted to 228 thousand barrels per day, down by 29 thousand barrels per day from the previous week, which amounted to 257 thousand barrels per day.
” The administration indicated that “most of America’s oil revenues during the past week came from Canada, followed by Mexico, Venezuela and Saudi Arabia.”
According to the table, “the amount of US imports of crude oil continued from Ecuador, Brazil, Colombia and Nigeria.” / End https://ninanews.com/Website/News/Details?key=1189550
SOMO: Iraq Exports More Than 4 Million Tons Of Oil Derivatives In 3 Months
Energy Economy News – Baghdad The State Oil Marketing Company (SOMO) announced the export of 3 petroleum products, amounting to more than 4 million tons of petroleum derivatives, during the fourth quarter of 2024.
SOMO said in its tables, which were reviewed by Al-Eqtisad News, that “Iraq exported 4 million, 465 thousand, and 749 tons of oil derivatives from October until December 2024.”
The company added that “Iraq exported fuel oil in the amount of 4 million, 216 thousand, and 145 tons in the fourth quarter of 2024, compared to the same period in 2023, in which fuel oil exports amounted to 2 million, 796 thousand, and 606 tons.”
According to the tables, “Iraq also exported 194,637 tons of naphtha,” noting that “jet fuel was also exported in an amount of 54,967 tons.”
Naphtha is an intermediate intended either for the petrochemical industry (such as ethylene manufacturing or aromatics production) or for the production of gasoline by reforming or isomerization within the refinery. https://economy-news.net/content.php?id=53072
Oil Prices Record First Monthly Loss Since Last November
Saturday 01 March 2025 08:29 | Economic Number of readings: 263 Baghdad / NINA / Oil prices fell by more than 1% at settlement on Friday evening and are heading to record the first monthly decline since November, as markets await Washington’s threats to impose customs duties and Iraq’s decision to resume oil exports from the Kurdistan region.
Investor sentiment was also affected by the uncertainty surrounding OPEC’s plans for production in April and the ongoing peace talks to end the war in Ukraine.
Brent crude May contracts, the most active, fell 88 cents, or 1.2%, to $72.69 a barrel, while US West Texas Intermediate crude recorded $69.36 a barrel, down 99 cents, or 1.41%, according to Reuters.
Brent crude futures for the nearest month, which expire today, were traded at $73.09 a barrel, down 95 cents.
Both benchmarks are heading to record their first monthly decline in 3 months.
Investors’ appetite for risk has been reduced by factors such as expectations of an economic slowdown in the United States, tariffs, OPEC+ plans to increase supplies in April, and the possibility of a peace deal in Ukraine, which could boost Russian oil exports. / https://ninanews.com/Website/News/Details?key=1189347
Gold Posts Weekly Losses But Monthly Gains
Saturday 01 March 2025 08:58 | Economic Number of readings: 183 Baghdad / NINA / Gold prices fell in global markets at the end of trading on Friday evening, recording weekly losses, but achieved gains throughout the February sessions.
The price of gold futures fell by 1.6%, with losses of about $ 47, at $ 2848 per ounce, but recorded weekly losses of about 1.8%, but with monthly gains of 0.4%.
At settlement yesterday, gold fell in spot transactions by 0.9%, equivalent to $ 26, to $ 2851 per ounce.
The dollar rose against the euro by 0.3% at $ 1.0367, and the greenback rose against the Japanese yen by 0.5% at 150.6000 yen, and against the British pound by 0.2% at $ 1.2572. / https://ninanews.com/Website/News/Details?key=1189349
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