Kurdish leader: The exchange rate game has been exposed and the parties win 7-8 billion dinars per day with the help of the Central
Shankali said in his tweet on Twitter that “the price of the dollar reaches 1500 dinars per dollar, and the central bank sells about $200 million daily,” considering that “the lie of fighting dollar smuggling that some have promoted has been exposed.”
He added that “with a simple calculation, the banks and banking companies listed earn 7-8 billion dinars per day, and for information, most of them belong to political blocs, parties and influential personalities . link
For the first time since February 2020, Iraq achieves a monthly surplus in its financial budget
The Iraq Future Foundation for Economic Studies announced that Iraq achieved a monthly surplus in March of 2.1 trillion dinars, the first time since February 2020.
The head of the Iraq Future Foundation for Economic Studies, Manar Al-Obaidi, said in a statement to the institution that “the Iraqi state’s revenues for the month of March, according to the data of the Ministry of Finance, amounted to 7.2 trillion dinars, and oil revenues amounted to 6.1 trillion dinars, while total expenses amounted to 5.166 trillion dinars, and thus the amount achieved by the Iraqi state in the quarter The first of the year was 17.3 trillion dinars, and oil revenues amounted to 15.2 trillion dinars.
He added: While the total expenditures amounted to 17.4 trillion dinars, and thus the total deficit for the first quarter of the year amounted to 131 billion dinars. ink
FXS: USD/IDR Price News: Indonesian rupiah stays below 14,300 on CPIs
Indonesia’s annual inflation rate accelerated in May, according to the latest data published by Statistics Indonesia showed on Wednesday.
Indonesian May’s inflation rate rose to 1.68% on the year when compared with April’s 1.42% and 1.67% expectations, although remains way below the Bank Indonesia’s (BI) 2.5-4.5% target range.
The annualized core figure arrived at 1.37% vs. 1.18% previous and 1.28% expected.
Meanwhile, the monthly inflation reading for May came in at 0.32% vs. +0.32% expected and +0.13% last.
The USD/IDR cross remains uninspired by the upbeat CPI release. At the press time, the spot trades flat at 14,272, keeping its recovery mode intact from 14,252.50 lows.
About Indonesia’s CPI
The Inflation index released by the Statistics Indonesia is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of the Indonesian Rupiah is dragged down by inflation. The CPI is used as a key indicator to measure inflation and changes in purchasing trends. Generally speaking, a high reading is seen as positive (or bullish) for the Rupiah, while a low reading is seen as negative (or Bearish).
Best International Investment Bank in Indonesia
Deutsche Bank has been named Best International Investment Bank for Indonesia in the Finance Asia Country Awards 2021.
The franchise was recognised for its strength both in debt capital markets and M&A advisory, as well as its strength in fixed income global markets trading.
Indonesia Chief Country Officer Siantoro Goeyardi said: “Being recognized as Best International Investment Bank is testament to our long term commitment to Indonesia, strength of relationships, cross-regional teamwork, and the innovative structuring we provide clients.”
In debt capital markets, Deutsche Bank led various debt issuances for the Republic of Indonesia and corporates, including the largest green bond from Southeast Asia last year.
In M&A, Deutsche Bank was financial adviser for the two largest Indonesian cross-border M&A transactions in 2020, with total transaction value of over USD 4 billion.
In fixed income markets, Deutsche Bank was recognized as the 2020 Best Main Dealer of the Year in Indonesia. Deutsche Bank is consistently one of the largest market makers and traders of Indonesia Rupiah (IDR) Government Bonds in primary and secondary market, serving as a key proponent of Indonesia’s credit story to global rates and macro investors.
In FX, Deutsche Bank was one of the first foreign banks to transact the Domestic Non Deliverable Forwards (DNDF), and today ranked in the top three to deal DNDF, which is an important foreign exchange hedging tool for corporates and investors.
“During a year like no other, the Indonesia team rose to the challenge and delivered for our clients and franchise,” Goeyardi added. link
Source: Dinar Recaps
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