By John Lee.
The Deputy Governor of the Central Bank of Iraq (CBI) has reassured the markets that there will be no further devaluation of the Iraqi dinar.
Ammar Mohammed said:
"It was important to change the exchange rate before approving the budget in order to know the income and budget in dinars ... to serve the interests of the Iraqi economy ... it will also enhance the competitiveness of domestic products and reduce imports ...
"The decision ... is final, and there will be no further change in this rate."
He added that the Central Bank has sufficient foreign reserves to sustain the new exchange rate.
(Source: Govt of Iraq)
I hope this is only smoke and mirrors cause it isn't what was expected.
You have the greatest opportunity to become to greatest country in the world and go as history for blessing the citizens of Iraq by lifting them out of poverty ..Now is the time and not a minute later! It's time for true prosperity!
I hope Steve it is like you said.....i remember doctor Shabibi said the irak dinar can substain 16.00$ so why they want now put a normal value like before the war so around 3.50$ ? And don’t fortget what kuwait did for their currency !
I heard that the rate in the gazette is around 14.50. If true this is close to what doctor Shabibi said. I would love to know what would be the international rate?
The Government workers live rich while the people live poor. When will it stop!
This dinar malarkey is turning into bullshit it’s Ben 20 years we might as well put are flag up and call it America since they wanna live on the American dollar the third richest country in the world can’t get there shit together pretty sad