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Central Bank launches electronic platform for financial transactions between banks operating in Iraq DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Central Bank launches electronic platform for financial transactions between banks operating in Iraq

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Central Bank launches electronic platform for financial transactions between banks operating in Iraq Empty Central Bank launches electronic platform for financial transactions between banks operating in Iraq

Post by claud39 on Thu Jun 20, 2019 7:02 am

[size=35]Central Bank launches electronic platform for financial transactions between banks operating in Iraq[/size]


2019-06-20 06:32



[size=35]Central Bank launches electronic platform for financial transactions between banks operating in Iraq Doc-P-308387-636966236017882643
[/size]




The Central Bank of Iraq announced on Thursday the launch of electronic platform for financial transactions between banks operating in Iraq.


The bank said in a statement it received Alsumaria News a copy of it began the procedures for launching the platform of electronic trading between banks operating in Iraq (Interbank Market (FX, Money Market, "noting that the platform establishes an electronic financial market organization opens and facilitates the way for foreign investment in Iraq "He said.






"The platform aims to increase cooperation between banks and increase their ability to diversify financial services for their customers and attract the commercial and financial operations available in the market." 

The bank said that "within the framework of these actions, the Central Bank sponsored a technical workshop between one of the world's leading companies in the areas of financial solutions and a number of banks operating in Iraq with the support of the Association of Iraqi banks private."


https://www.alsumaria.tv/news/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF/308387/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%B7%D9%84%D9%82-%D8%A7%D9%84%D9%85%D9%86%D8%B5%D8%A9-%D8%A7%D9%84%D8%A5%D9%84%D9%83%D8%AA%D8%B1%D9%88%D9%86%D9%8A%D8%A9-%D9%84%D9%84%D8%AA%D8%AF%D8%A7%D9%88%D9%84%D8%A7%D8%AA-%D8%A7%D9%84?src=rss&utm_campaign=rss&utm_source=Rss-articles&utm_term=Rss&utm_medium=Rss-308387


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Central Bank launches electronic platform for financial transactions between banks operating in Iraq Empty United Nations Treasury - The United Nations Operational Rates of Exchange

Post by claud39 on Thu Jun 20, 2019 7:11 am

United Nations Treasury - The United Nations Operational Rates of Exchange

Disclaimer


The Operational Rates of Exchange listed herein are intended only for the internal record-keeping of the United Nations. No warranty of accuracy can be given and the United Nations shall not assume any responsibility in connection with the present publication of these rates. 


Please note that a rate with the newest effective date supercedes the previous or current rate. Also, On monthly revisions, all rates, whether or not changed, are listed. However, for mid-month revision, only the changed currencies and rates will be posted. Please check the schedule below for the ad-hoc mid-month revision dates as well as monthly revision. 


The rates are for internal purposes and not to be quoted as a source or indication of market rates.


Please note that there is no mid-month revision for 14 June 2019.


Schedule of UN Operational Rates of Exchange for 2019

The Operational Rates of Exchange were last updated for the effective date in accordance with the schedule below and thereafter until further notice.
Central Bank launches electronic platform for financial transactions between banks operating in Iraq Bg-li
[th]Publishing Date[/th][th][/th][th]Effective Date[/th]
12 Jun 2019if applicable14 Jun 2019
27 Jun 201930 Jun 2019
11 Jul 2019if applicable15 Jul 2019
30 Jul 201901 Aug 2019
13 Aug 2019if applicable15 Aug 2019
29 Aug 201901 Sep 2019
11 Sep 2019if applicable13 Sep 2019
27 Sep 201901 Oct 2019
Oct 11, 2019if applicableOct 15, 2019
Oct 30, 201901 Nov 2019
13 Nov 2019if applicable15 Nov 2019
27 Nov 201901 Dec 2019
11 Dec 2019if applicable13 Dec 2019
27 Dec 201931 Dec 2019
[size]
Central Bank launches electronic platform for financial transactions between banks operating in Iraq Bg-li[/size]

https://treasury.un.org/operationalrates/default.php
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Central Bank launches electronic platform for financial transactions between banks operating in Iraq Empty Central Bank launches electronic platform for financial transactions between banks operating in Iraq

Post by claud39 on Thu Jun 20, 2019 7:22 am

Central Bank launches electronic platform for financial transactions between banks operating in Iraq




20/06/2019




Central Bank launches electronic platform for financial transactions between banks operating in Iraq 15834




Economy News _ Baghdad



The Central Bank of Iraq announced on Thursday the launch of electronic platform for financial transactions between banks operating in Iraq.

The bank said in a statement received by "Economy News" a copy of it, he began the procedures to launch the platform of electronic trading between banks operating in Iraq (Interbank Market (FX, Money Market, "noting that" the platform establishes an electronic financial market organization opens and facilitates the way for investment Foreigner in Iraq ".

"The platform aims to increase cooperation between banks and increase their ability to diversify financial services for their customers and attract the commercial and financial operations available in the market."

The bank said that "within the framework of these actions, the Central Bank sponsored a technical workshop between one of the world's leading companies in the areas of financial solutions and a number of banks operating in Iraq with the support of the Association of Iraqi private banks."





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Central Bank launches electronic platform for financial transactions between banks operating in Iraq Empty (Press release) Launch of electronic platform for financial transactions between banks operating in Iraq

Post by claud39 on Thu Jun 20, 2019 8:32 am

(Press release) Launch of electronic platform for financial transactions between banks operating in Iraq




June 20, 2019





Central Bank launches electronic platform for financial transactions between banks operating in Iraq News-156102726015659






The Central Bank launched the electronic platform for trading between banks operating in Iraq  Interbank Market (FX, Money Market)
A platform that establishes an organized electronic financial market that opens and facilitates the way for foreign investment in Iraq .
The platform aims to increase cooperation between banks and increase their ability to diversify the financial services of their customers and attract the commercial and financial operations available in the market .
 

Within the framework of these measures, the Central Bank sponsored a technical workshop between one of the leading international companies in the areas of financial solutions and a number of banks operating in Iraq with the support of the Association of Iraqi private banks .
 

Central Bank of Iraq
  information Office
20 June 2019









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Central Bank launches electronic platform for financial transactions between banks operating in Iraq Empty Market Coverage

Post by claud39 on Fri Jun 21, 2019 12:44 pm

[size=36]Market Coverage[/size]

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Central Bank launches electronic platform for financial transactions between banks operating in Iraq Empty Re: Central Bank launches electronic platform for financial transactions between banks operating in Iraq

Post by claud39 on Fri Jun 21, 2019 12:54 pm

@claud39 wrote:
(Press release) Launch of electronic platform for financial transactions between banks operating in Iraq




June 20, 2019





Central Bank launches electronic platform for financial transactions between banks operating in Iraq News-156102726015659






The Central Bank launched the electronic platform for trading between banks operating in Iraq  Interbank Market (FX, Money Market)
A platform that establishes an organized electronic financial market that opens and facilitates the way for foreign investment in Iraq .
The platform aims to increase cooperation between banks and increase their ability to diversify the financial services of their customers and attract the commercial and financial operations available in the market .
 

Within the framework of these measures, the Central Bank sponsored a technical workshop between one of the leading international companies in the areas of financial solutions and a number of banks operating in Iraq with the support of the Association of Iraqi private banks .
 

Central Bank of Iraq
  information Office
20 June 2019














[size=39]Forex – FX[/size]

REVIEWED BY CORY MITCHELL
 
 Updated Jun 5, 2019




[size=21]What is Forex (FX)?

Forex (FX) is the marketplace where various national currencies are traded. The forex market is the largest, most liquid market in the world, with trillions of dollarschanging hands every day. There is no centralized location, rather the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks).

Many entities, from financial institutions to individual investors, have currency needs, and may also speculate on the direction of a particular pair of currencies movement. They post their orders to buy and sell currencies on the network so they can interact with other currency orders from other parties.

The forex market is open 24 hours a day, five days a week, except for holidays. Currencies may still trade on a holiday if at least the country/global market is open for business.

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Volume 0%



























 [/ltr]

Forex Market Basics

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Forex Pairs and Quotes

When trading currencies, they are listed in pairs, such as USD/CAD, EUR/USD, or USD/JPY. These represent the U.S. dollar (USD) versus the Canadian dollar (CAD), the Euro (EUR) versus the USD and the USD versus the Japanese Yen (JPY).

There will also be a price associated with each pair, such as 1.2569. If this price was associated with the USD/CAD pair it means that it costs 1.2569 CAD to buy one USD. If the price increases to 1.3336, then it now costs 1.3336 CAD to buy one USD. The USD has increased in value (CAD decrease) because it now costs more CAD to buy one USD.

KEY TAKEAWAYS

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  • The forex market is a network of institutions, allowing for trading 24 hours a day, five days per week, with the exception of when all markets are closed because of a holiday.
  • Retail traders can open a forex account and then buy and sell currencies. A profit or loss results from the difference in price the currency pair was bought and sold at.
  • Forwards and futures are another way to participate in the forex market. Forwards are customizable with the currencies exchanged after expiry. Futures are not customizable and are more readily used by speculators, but the positions are often closed before expiry (to avoid settlement).
  • The forex market is the largest financial market in the world.
  • Retail traders typically don't want to have to deliver the full amount of currency they are trading. Instead, they want to profit on price differences in currencies over time. Because of this, brokers rollover positions each day.

[size][size]


Forex Lots

In the forex market currencies trade in lots, called micro, mini, and standard lots. A micro lot is 1000 worth of a given currency, a mini lot is 10,000, and a standard lot is 100,000. This is different than when you go to a bank and want $450 exchanged for your trip. When trading in the electronic forex market, trades take place in set blocks of currency, but you can trade as many blocks as you like. For example, you can trade seven micro lots (7,000) or three mini lots (30,000) or 75 standard lots (750,000), for example.


How Large Is the Forex?

The forex market is unique for several reasons, mainly because of its size. Trading volume is generally very large. As an example, trading in foreign exchange markets averaged $5.1 trillion per day in April 2016, according to the Bank for International Settlements.

The largest foreign exchange markets are located in major global financial centers like London, New York, Singapore, Tokyo, Frankfurt, Hong Kong, and Sydney.

How to Trade in the Forex

The forex market is open 24 hours a day, five days a week across major financial centers across the globe. This means that you can buy or sell currencies at any time during the week. 

From a historical standpoint, foreign exchange trading was largely limited to governments, large companies, and hedge funds. But in today's world, trading currencies is as easy as a click of a mouse. Accessibility is not an issue, which means anyone can do it. Many investment firms, banks, and retail forex brokers offer the chance for individuals to open accounts and to trade currencies. 

When trading in the forex market, you're buying or selling the currency of a particular country, relative to another currency. But there's no physical exchange of money from one party to another. That's what happens at a foreign exchange kiosk—think of a tourist visiting Times Square in New York City from Japan. He may be converting his physical yen to actual U.S. dollar cash (and may be charged a commission fee to do so) so he can spend his money while he's traveling. But in the world of electronic markets, traders are usually taking a position in a specific currency, with the hope that there will be some upward movement and strength in the currency they're buying (or weakness if they're selling) so they can make a profit. 

A currency is always traded relative to another currency. If you sell a currency, you are buying another, and if you buy a currency you are selling another. In the electronic trading world, a profit is made on the difference between your transaction prices.


Spot Transactions

spot market deal is for immediate delivery, which is defined as two business days for most currency pairs. The major exception is the purchase or sale of USD/CAD, which is settled in one business day. The business day calculation excludes Saturdays, Sundays, and legal holidays in either currency of the traded pair. During the Christmas and Easter season, some spot trades can take as long as six days to settle. Funds are exchanged on the settlement date, not the transaction date.

The U.S. dollar is the most actively traded currency. The euro is the most actively traded counter currency, followed by the Japanese yen, British pound and Swiss franc.

Market moves are driven by a combination of speculation, economic strength and growth, and interest rate differentials.


Forex (FX) Rollover

Retail traders don't typically want to take delivery of the currencies they buy. They are only interested in profiting on the difference between their transaction prices. Because of this, most retail brokers will automatically "rollover" currency positions at 5 p.m. EST each day.

The broker basically resets the positions and provides either a credit or debit for the interest rate differential between the two currencies in the pairs being held. The trade carries on and the trader doesn't need to deliver or settle the transaction. When the trade is closed the trader realizes their profit or loss based on their original transaction price and the price they closed the trade at. The rollover credits or debits could either add to this gain or detract from it.

Since the fx market is closed on Saturday and Sunday, the interest rate credit or debit from these days is applied on Wednesday. Therefore, holding a position at 5 p.m. on Wednesday will result in being credited or debited triple the usual amount.


Forex Forward Transactions

Any forex transaction that settles for a date later than spot is considered a "forward." The price is calculated by adjusting the spot rate to account for the difference in interest rates between the two currencies. The amount of adjustment is called "forward points." The forward points reflect only the interest rate differential between two markets. They are not a forecast of how the spot market will trade at a date in the future.

A forward is a tailor-made contract: it can be for any amount of money and can settle on any date that's not a weekend or holiday. As in a spot transaction, funds are exchanged on the settlement date.


Forex (FX) Futures

A forex or currency futures contract is an agreement between two parties to deliver a set amount of currency at a set date, called the expiry, in the future. Futures contracts are traded on an exchange for set values of currency and with set expiry dates. Unlike a forward, the terms of a futures contract are non-negotiable. A profit is made on the difference between the prices the contract was bought and sold at. Most speculators don't hold futures contracts until expiration, as that would require they deliver/settle the currency the contract represents. Instead, speculators buy and sell the contracts prior to expiration, realizing their profits or losses on their transactions.


Forex Market Differences

There are some major differences between the forex and other markets.

Fewer Rules


This means investors aren't held to as strict standards or regulations as those in the stock, futures or options markets. There are no clearing houses and no central bodies that oversee the entire forex market. You can short-sell at any time because in forex you aren't ever actually shorting; if you sell one currency you are buying another.

Fees and Commissions


Since the market is unregulated, how brokers charge fees and commissions will vary. Most forex brokers make money by marking up the spread on currency pairs. Others make money by charging a commission, which fluctuates based on the amount of currency traded. Some brokers use both these approaches.

Full Access


There's no cut-off as to when you can and cannot trade. Because the market is open 24 hours a day, you can trade at any time of day. The exception is weekends, or when no global financial center is open due to a holiday.

Leverage


The forex market allows for leverage up to 50:1 in the U.S. and even higher in some parts of the world. That means a trader can open an account for $1,000 and buy or sell as much as $50,000 in currency, for example. Leverage is a double-edged sword; it magnifies both profits and losses.


Example of a Forex Transaction

Assume a trader believes that the EUR will appreciate against the USD. Another way of thinking of it is that the USD will fall relative to the EUR.

They buy the EUR/USD at 1.2500 and purchase $5,000 worth of currency. Later that day the price has increased to 1.2550. The trader is up $25 (5000 * 0.0050). If the price dropped to 1.2430, the trader would be losing $35 (5000 * 0.0070).

Currency prices are constantly moving, so the trader may decide to hold the position overnight. The broker will rollover the position, resulting in a credit or debit based on the interest rate differential between the Eurozone and the U.S. If the Eurozone has an interest rate of 4% and the U.S. has an interest rate of 3%, the trader owns the higher interest rate currency because they bought EUR. Therefore, at rollover, the trader should receive a small credit. If the EUR interest rate was lower than the USD rate then the trader would be debited at rollover.

Rollover can affect a trading decision, especially if the trade could be held for the long term. Large differences in interest rates can result in significant credits or debits each day, which can greatly enhance or erode the profits (or increase or reduce losses) of the trade.

Most brokers also provide leverage. Many brokers in the U.S. provide leverage up to 50:1. Let's assume our trader uses 10:1 leverage on this transaction. If using 10:1 leverage the trader is not required to have $5,000 in their account, even though they are trading $5,000 worth of currency. They only need $500. As long as they have $500 and 10:1 leverage they can trade $5,000 worth of currency. If they utilize 20:1 leverage, they only need $250 in their account (because $250 * 20 = $5,000).

Making a profit of $25 quite quickly considering the trader only needs $500 or $250 in the capital (or even less if using more leverage), shows the power of leverage. The flip side is that if this trader only had $250 in their account and the trade went against them they could lose their capital quickly.

It is recommended traders manage their position size and control their risk so that no single trade results in a large loss.

https://www.investopedia.com/terms/f/forex.asp

[/size][/size]
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Central Bank launches electronic platform for financial transactions between banks operating in Iraq Empty Central Bank launches an electronic platform for financial transactions between banks

Post by claud39 on Sat Jun 22, 2019 7:09 am

[size=36][rtl]Central Bank launches an electronic platform for financial transactions between banks[/rtl][/size]








Friday 21 June 2019





Central Bank launches electronic platform for financial transactions between banks operating in Iraq Alsabaah-14490










Baghdad / Al-Sabah


The Central Bank initiated the launch of the electronic platform for trading between banks operating in Iraq Interbank Market (FX, Money Market).

A statement issued by the Central Bank received a copy of "Al-Sabah" that this "platform to establish an organized electronic financial market opens and facilitates the way for foreign investment in Iraq."







The interbank market is one of the highest levels of the foreign exchange market. It requires major financial institutions and banks, whether these groups deal directly with each other or use electronic brokerage platforms, to carry out all their transactions in a very transparent manner.





"The platform aims to increase cooperation between banks and increase their ability to diversify financial services for their customers and attract the commercial and financial operations available in the market."

"Within the framework of these procedures, the Central Bank sponsored a technical workshop between one of the world's leading companies in the areas of financial solutions and a number of banks operating in Iraq with the support of the Association of Iraqi Banks

Special ".


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