Central Bank says No Further Devaluation of Iraqi Dinar

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)

7 Responses to Central Bank says No Further Devaluation of Iraqi Dinar

  1. Steve 13th April 2021 at 02:32 #

    I hope this is only smoke and mirrors cause it isn't what was expected.

  2. SANDY BROWN 13th April 2021 at 07:03 #

    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!

  3. Carole Lord 15th April 2021 at 14:02 #

    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 !

  4. Toni 18th April 2021 at 15:07 #

    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?

  5. Eltoro Thomas Smith 26th April 2021 at 14:27 #

    The Government workers live rich while the people live poor. When will it stop!

  6. John 5th May 2021 at 02:47 #

    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

  7. Jose 17th May 2021 at 04:32 #

    Their leaders are nothing more than our politicians in office. They became a democracy only to steal the common people's money!!! They learned from us on how to set up a corrupt government. They are very comfortable while the people are poor. Its a form of control.