Internal And External Factors…The Reasons For The Dollar’s Decline In The Local Market
Buratha News Agency1092025-05-18 Economist Safwan Qusay confirmed on Sunday that the decline in the value of the dollar in the informal market is the result of a combination of several internal and external factors, most notably recent developments in Syria and the banking reforms initiated by the Iraqi government.
Qusay said in a press interview that “the value of the dollar in the informal market was affected by recent events in Syria, as Damascus was within the circle of prohibited transfers. However, the lifting of sanctions and the reversal of transactions towards Syrian markets contributed to reducing demand for the dollar in the informal market.”
He added, “Lebanese markets, which had previously refrained from direct dealings with Iraqi banks, have recently begun dealing directly with them, which has also been reflected in a decline in demand for dollars on the parallel market.”
Qusay explained that “the banking reforms initiated by the Iraqi government in cooperation with Oliver Wyman, which included opening windows for international correspondents and expanding the scope of investigation into entities requesting dollars from the informal market, helped to organize their affairs and shift them toward dealing with official banks and benefiting from the official exchange rate of 1,320 dinars to the dollar.”
He pointed out that “most traders are hesitant about imports due to the ongoing trade war between Russia and the European Union on the one hand, and the United States and China on the other, in addition to the mutual tariffs, which in turn have contributed to a decline in demand for the dollar.”
The economic expert noted that “the upcoming understandings regarding reciprocal taxes between the United States and China will positively impact the price of a barrel of oil, leading to a further decline in demand for the dollar in the informal market.”
He emphasized that “these measures, which represent a combination of government reforms and international variables, have helped reduce the value of the dollar in the informal market, alongside the decline in the dollar’s global price due to the US administration’s desire to repay its $36 trillion foreign debt with a weak dollar. This also depends on the US Federal Reserve’s renewal policy and interest rates.” https://burathanews.com/arabic/economic/460279
Stability Of The Dollar Exchange Rate In Local Markets
Economy | 10:42 – 05/18/2025 Mawazine News – Baghdad – The exchange rate of the US dollar against the Iraqi dinar witnessed stability in local markets.
The dollar exchange rate on the Al-Kifah and Al-Harithiya stock exchanges in Baghdad reached 142,450 Iraqi dinars for every $100, after recording 142,400 dinars for every $100 yesterday, Saturday.
The exchange rates at money exchange shops in local markets in Baghdad stabilized, with the selling price reaching 143,500 dinars for every $100, while the buying price reached 141,500 dinars for every $100.
On February 7, 2022, the Council of Ministers announced its approval to adjust the dollar exchange rate to 1,320 dinars for one dollar. https://www.mawazin.net/Details.aspx?jimare=261614
Iraq Is Not Among The Largest Holders Of US Bonds.
Sunday, May 18, 2025 1:26 PM | Economic Number of reads: 258 Baghdad / NINA / The US Treasury Department announced, on Sunday, that the total holdings of US bonds by countries around the world during the current year exceeded $9 trillion.
The Treasury said in a table for the year 2025, that “the holdings of US bonds by countries around the world amounted to $9 trillion and 50 billion.”
It indicated that “Japan is considered the largest holder of US bonds, with $1.13 trillion, followed by the United Kingdom, then China, the Cayman Islands fourth, and then Canada.”
In the Arab world, Saudi Arabia and the UAE were among the top twenty countries in terms of holding US bonds, as Saudi Arabia’s holdings amounted to $131 billion, and the UAE’s $111 billion.
According to the US Department’s table, Iraq did not make it to the top twenty list, despite its presence in 2023 with holdings amounting to $32.6 billion.
It’s worth noting that Saudi Arabia was the only Arab country on the list of the largest holders of US bonds for 2024, ranking 17th with holdings of $137.5 billion. / End https://ninanews.com/Website/News/Details?key=1227651
Gold Prices Stabilize In Local Markets
Economy | 01:16 – 05/18/2025 Mawazine News – Baghdad – Gold prices, both foreign and Iraqi, witnessed stability in the local markets of the capital, Baghdad, on Sunday.
Gold prices in the wholesale markets on Al-Nahr Street in Baghdad recorded this morning a selling price for one mithqal of 21-karat Gulf, Turkish and European gold at 635,000 dinars, while the purchase price reached 631,000 dinars, the same prices recorded yesterday, Saturday.
The selling price of one mithqal of 21-karat Iraqi gold reached 605,000 dinars, while the purchase price reached 601,000 dinars.
As for gold prices in jewelers’ shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 640,000 and 650,000 dinars, while the selling price of one mithqal of Iraqi gold ranged between 605,000 and 615,000 dinars. https://www.mawazin.net/Details.aspx?jimare=261622
Iraq’s Crude Oil Exports To The US Declined Last Week
Sunday, May 18, 2025 Economic Number of reads: 303 Baghdad / NINA / The US Energy Information Administration announced, on Sunday, a decrease in Iraqi exports to America during the past week.
The administration stated in a table, “The average US imports of crude oil during the past week from ten major countries amounted to 5.365 million barrels per day, an increase of 96 thousand barrels per day compared to the previous week, which amounted to 5.269 million barrels per day.”
It added that “the average of Iraqi oil exports to America amounted to 152 thousand barrels per day, a decrease of 77 thousand barrels per day compared to the previous week, which amounted to 229 thousand barrels per day.”
The administration indicated that “the largest oil revenues to America during the past week came from Canada, followed by Brazil, Saudi Arabia, and then Mexico. “
According to the table, “the amount of US imports of crude oil continued from Nigeria, Ecuador, Venezuela, Colombia, and Libya.” / End https://ninanews.com/Website/News/Details?key=1227601
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com/
