Iraqi Dinar Increases in Value

Central Bank of Iraq announced that it revaluated the Iraqi Dinar by 3.4% relative to the US Dollar, according to a report from Al Sumaria.

“During the daily auction of foreign currencies’ exchange, the Central Bank raised the value of Iraqi dinar against the dollar by 3.4%, or four Dinars,” the deputy governor of the bank told the news agency.

“The nominal rate of the Dinar doesn’t coincide with its purchasing power or with its real exchange rate against the Dollar,” he reportedly added. “The current account of Iraq payments has a surplus of 5 to 8% of GDP.”

(Source: Al Sumaria)

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3 Responses to Iraqi Dinar Increases in Value

  1. Andy 25th January 2012 at 16:53 #

    Do you foresee any more increases soon?

  2. Scott 3rd February 2012 at 04:18 #

    Idiots. It was .34% not 3.4%. Do I have to show you the math?

  3. Stew 3rd February 2012 at 16:56 #

    Note: Source: Al Sumaria
    Maybe you haven’t noticed, but most of the news stories on this site are not written by IBN. Have you contacted Al Sumaria? It’s their story. I guess you could say the editor of this site should have added a note at the bottom pointing out the error.