According to media reports, Iraq’s Central Bank said on Tuesday that the decision to remove the three zeros from the Iraqi currency would require consultation with the next government. Quoting a consultant refered to as Mohammed Saleh, the report says that deleting three zeros from the currency would negatively affect Iraqi citizens, but would facilitate […]
Tag Archives | Iraqi Dinar News
Latest Iraqi Dinar News and Iraq currency news including foreign exchange, investment and finance.
“Bi tarikh Al Ghad” is a weekly political talk-show prepared and presented by Ahmad Hassan and directed by Yaseen Mohamad Amin. It retraces the latest major political developments taking place in Iraq and handles events from a leading-edge angle. “Bi tarikh al ghad” projects the consequences of newest developments on the political process and highlights […]
An Iraqi police source said that army forces arrested a gang of currency counterfeiters during a security operation in Basra 550 km south of the Iraqi capital, Baghdad. The official source said that the gang consisted of two people, and the security forces found nearly $90,000 [105 million Iraqi dinars] of counterfeit currency on site, […]
A U.S. Army officer who approved supplies contracts in Iraq was sentenced Friday to 21 months in prison for lying about contents of a package he sent to the United States containing more than $100,000, according to a report from Associated Press. Maj. Charles E. Sublett pleaded guilty in July to sending almost $108,000 in […]
Earlier this month it was reported that the Central Bank of Iraq (CBI) might redenominate the Iraqi dinar after the new government is formed, exchanging one new dinar for 1,000 old. (For more on this story, see http://www.iraq-businessnews.com/2010/09/14/central-bank-wants-to-drop-zeros-from-iraqi-dinar/.) While such a redenomination would obviously help to simplify transactions and record keeping, it is not clear […]
Various websites are quoting the Governor of Iraq’s Central Bank, Mohammed Salih, as saying the he wants to delete three zeros from the Iraqi currency after the formation of the new Iraqi government. In a reported interview with “Alsumaria News”, he said the amount of Iraqi dinars in circulation has increased from 25 billion in […]
Iraq’s core inflation continued to slow in July, dropping to an annual rate of 1.7 percent from 2.7 percent in June, a central bank official said on Monday, according to a report from Reuters. The bank gave no immediate explanation for the fall in core inflation, which excludes expenditures on fuel. To spur investment and […]
There has been much speculation in recent months that the Iraqi dinar would be re-based, knocking off the last three zeros. The lastest news is that Iraq will not in fact remove the zeros from its currency, because it will not resolve inflation and will create opportunities for corruption, reports AKnews, citing a senior source […]
A senior official in the Iraqi Central Bank said that inflation in Iraq continuedto fall in June and reached 2.7%, compared with 3% in May. The Central Bank of Iraq slashed its base rate by 100 basis points to six per cent in April in reaction to subdued inflation, though the interest rate is considered […]
The outgoing Iraqi government has faced criticism from economists for failing to increase the value of the Iraqi dinar despite the rise in oil prices on the international market, according to a report from AK News. The dinar continues to suffer from it’s significant difference in value from the hard currencies and this divide has […]
The assistant of the Central Bank Governor, Ahmad Sultan Al Jamili, said that re-basing the Iraqi dinar is a complicated process. He said that process of dropping three zeros from the currency will take long time.
An Iraqi Economist said on Thursday that the Central Bank began to reduce interest rates by approximately six percent for loans and four percent for bank deposits, to encourage investments in the country, after a series of robberies that took place recently on Iraqi banks. The expert said: “This shift reflects a new policy of […]