Tag Archives | re-denomination

Removing Zeros from Iraqi Dinar to Start in Sept

AKnews reports that the process of removing three zeros from the Iraqi dinar and replacing current banknotes with new ones will begin in September. The announcement, which will see the Iraqi Central Bank (ICB) re-print 30 trillion dinars ($26 billion), was made despite government fear over the project. Abdul-Hussein Abtan, a member of the economic […]

Video: Dealing in Dinar

According to Kansas-based NBC affiliate KSN, many servicemen and contractors have been persuaded to buy Iraqi dinars as an investment during their tours of duty in Iraq. Please click here to see the full video report: (Source: KSN)

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 […]

Iraqi Dinar Under Attack

The Iraqi Central Bank (ICB) said it’s under a “currency attack” as traders buy U.S. dollars in daily auctions and resell them on the black market in Syria and Iran, which face hard currency shortages due to sanctions, according to a report from Bloomberg. Demand for the dollar at the central bank auctions has risen […]

Central Bank Defends Weak Iraqi Dinar

Iraq’s Central Bank says it will not allow the Iraqi dinar to depreciate and has been selling hundreds of millions of dollars to keep the currency stable, according to a report from Azzaman. The dinar weakened in December, prompting the bank to sell dollars in a bid to withdraw cash from Iraqi markets. The bank […]

CBI Discusses Dropping Three Zeroes from Currency

Discussions reportedly took place with the Central Bank of Iraq regarding the dropping of the three zeroes from Iraqi currency. MP Aziz Shareef al-Mayahi, a member of Parliamentary Economic Commission, added that detailed discussions were held on Tuesday with economic experts. The commission will study the suggestions in order to reach a suitable response on […]

Iraqi Central Bank to Issue New Notes

AKnews reports that the Iraqi Central Bank (ICB) has confirmed it will issue a new bill with a value of 50,000 IQD ($43) but marked as 50 dinars. Deputy chairman of the ICB Dr Muzher Saleh said the bank is working to issue this new money in addition to coins in both Arabic and Kurdish […]

Iraqi Dinars “One of the Most Foolhardy Investments you can Make”

A local newspaper in Georgia, USA, reports that some local residents are buying Iraqi dinars in cash form, in the hope of profiting from a revaluation of the currency. According to the Moultrie Observer, people are buying boxes of crisp Iraqi dinars that look fresh off the printing press. It goes on to quote a […]

Your Guide to the Iraqi Dinar

We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example: Will the Iraqi dinar increase in value? Will the currency be re-denominated, dropping the ‘three zeros’? Is it wise to buy Iraqi dinar? Firstly, Iraq Business News is not in a position to give investment advice. […]

Iraq’s Central Bank Considers New Currency

Iraq’s Central Bank says the country is in need of a new currency in which the current zeros are removed to facilitate commercial transactions, according to Azzaman. The bank’s Governor, Sinan al-Shabibi, said he was in talks with the prime minister, Nouri al-Maliki, on how to go ahead with the bid to issue currency with […]

The Future for the Iraqi Dinar

We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example: Will the Iraqi dinar increase in value? Will the currency be re-denominated, dropping the ‘three zeros’? Is it wise to buy Iraqi dinar? Firstly, Iraq Business News is not in a position to give investment advice. […]

Alsumaria TV to Re-Run Dinar Re-Denomination Prog

“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 […]