“Steady Increase” in the Iraqi Dinar

By John Lee.

There has been a steady increase in the market price of the Iraqi Dinar (IQD) versus the USD, according to an Iraq Business News Expert Blogger.

In his market report for the month of June, Ahmed Tabaqchali said the premium over the official exchange rate has fallen to 1.2 percent, the lowest point in a number of years, from just under 6 percent at the end of 2017 and 10 percent at the end of 2016.

FX spreads are one of many sources of revenues for the higher quality banks but constitute the bulk of earnings for the lower quality banks“, he adds.

Read Ahmed Tabaqchali’s full report here.

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