Iraqi Dinar Exchange Rate Manipulated?

By John Lee.

Investigators in Iraq have opened an inquiry into alleged manipulation of the exchange rate between the Iraqi dinar (IQD) and the US dollar, and arrest warrants have reportedly been issued for several officials including the head of the Central Bank of Iraq (CBI).

Hassan Karim Aati, spokesman for the Commission on Integrity, said on Tuesday that the Commission is looking into the matter, and studying documents from a parliamentary committee investigating the corruption allegations.

The investigation focusses around 16 officials in the CBI.

While it's understood that no charges have been brought, Baha al-Araji, the chairman of parliament's integrity committee, said 30 arrest warrants had been issued, including for CBI governor Sinan al-Shabibi (pictured) and his deputy Mudher Saleh [Mudher Kasim, Mudher Saleh Kasim].

8 Responses to Iraqi Dinar Exchange Rate Manipulated?

  1. FistFull of Dolars and cents 17th October 2012 at 04:44 #

    Maliki just can't accept the concept of seperation of powers. CBI gov. Shabibi knows what he is doing and is resovled to do what is best for his country contrary to Maliki's political agenda.No confidence vote is long over due.

  2. 2collectg 17th October 2012 at 14:25 #

    from my understanding that power move is bogus the CENTRAL BANK OF IRAQ IS DEVOID OF POLITICS maliki is toast! this is like our rethuglican congress ousting BEN BERNANKE!

  3. Stew 17th October 2012 at 22:21 #

    I see you understand Iraq’s government structure about as well as you understand currency values.

  4. mark 18th October 2012 at 13:42 #

    I just want the dinar to revalue so I can retire with all of my millions upon millions. LOL

  5. Jaydee 19th October 2012 at 10:15 #

    I'm with Mark. Get it done(revalue) already.

  6. Reggie 1st November 2012 at 16:14 #

    With the comments like, I want to retire with all my millions and millions is whats going to bring a new replacement of the newest DINAR. Its sad to say that greed surrounds that phrase in many ways. The rich dont get rich by allowing anyone to do the same as the country wouldn't know how to handle that. The Leaders of all titles dont want the competition so the cut the compition out in time. I know so many have invested so much money into the new dinar out of false hopes that have been a dream to all. Again this is money going to build a foreign bank that will never let this DINAR get that big.

  7. Stew 1st November 2012 at 18:54 #

    The dinar is like a never expiring lottery ticket.
    You buy a lottery ticket and dream for a few days about winning the riches.
    You buy dinar and hold it for years dreaming about your riches.
    The difference is someone will hit that lottery; your chances are about 1 in 40 million for having the winning ticket. Very bad odds, yet infinitely better odds than getting rich on a dinar RV because those odds are absolute zero.

  8. bob 17th November 2012 at 03:05 #

    The revaluation of the Iraqi currency could change the lives of not only 30 million Iraqi citizens, but affect the lives of 300 million US citizens and countless numbers of other people in other countries. obviously there has been something preventing this from happening to date. However, even though it hasn't happened yet, and may never happen the purchase of the Iraqi Dinar has helped Iraq rebuild their country and spread democracy in the middle east. Hopefully, they will do, democracy, better than we in the west have. Greed and power have finally reached a pivotal point in the developement of Paradise. we are about to enter one of the most dismal times in our history and no one seems to care. Should the Iraqi Dinar revalue many of us will be grateful however in spite of the temporary riches, the struggle for power will continue, and many will perish in the process. Good Luck to you Iraq, but given your History, I doubt you will succeed in the long run. Go RV!