Tag Archives | forex

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“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 […]

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Market Review: “Of Banks and Budget Surpluses”

By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Activity in the economy at large, and the market in particular, came to a virtual standstill at the start of the month as it coincided […]

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Price of Iranian Goods Falls 30% in Iraqi Kurdistan

By John Lee. A sharp fall in the value of the Iranian rial has reportedly reduced the price of Iranian goods in the Kurdistan Region of Iraq by 30 percent, boosting demand. According to Rudaw, trade between the Kurdistan Region and Iran amounted to $6 billion in 2016, falling to around $5.05 billion in 2017. […]

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Increase in Internet Scams Entraps Naïve Baghdad Locals

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. By Ibrahim Saleh. An Increase In Internet Scams Entraps Naïve Baghdad Locals Over the past few months there has been an increase in stories about money-making scams on Facebook. Ill-informed […]

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CBI Stops Dollar Sales, Foreign Currency Transfers to Kurdistan

By John Lee. The Central Bank of Iraq (CBI) announced on Tuesday that it will block foreign currency transfers to Iraqi Kurdistan, and stop selling dollars to four major Kurdish banks. The decision part of an effort to put pressure on Iraqi Kurdistan after its population voted overwhelmingly in favour of breaking away from Iraq […]

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Financial Fraudsters Hit ‘Dollar Market’ In Kurdistan

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In Iraqi Kurdistan, locals often trust the local exchange counter more than big banks. But a recent rash of fraud on the informal money market has seen savings lost and […]

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Poll: End of the Road for Iraqi Dinar Scam?

By Guest Blogger. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. For several years, con artists have been peddling the Iraqi Dinar scam – the myth of a massive revaluation of the Iraqi dinar, but that may be about to change. Using a range […]

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US Man Pleads Guilty to Illegal Dinar Sales

By John Lee. An American man has pleaded guilty to operating an illegal business selling Iraqi dinar. ArgusLeader reports that 60-year-old David Olmsted, also known as Dale Cooper Jr., received daily Federal Express packages with shrink-wrapped piles of dinar bills that had been smuggled out of Iraq and into Jordan. The man, from South Dakota, was […]

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Calls to Address Dinar Rate Fluctuation

By John Lee. The First Deputy Chairman of the parliament has reportedly demanded that the Central Bank of Iraq address the fluctuating exchange rate of the Iraqi dinar against the US dollar, and disclose the reasons. Shafaaq News says that Qusay al-Suhai chaired a meeting of the Finance Committee, in the presence of central bank […]

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