Central Bank Warns Against Speculation in Iraqi Dinar

By John Lee.

The Central Bank of Iraq (CBI) has confirmed its commitment to a stable foreign exchange rate for the Iraqi dinar.

According to a statement from the bank, "the dollar exchange rate is fixed and there are no intentions to change."

It added that the rate chosen at the end of 2020 was "based on in-depth studies of the requirements of the economic and financial situation and the objectives of monetary policy."

The CBI also cautioned that "statements related to the exchange rate are promoted for speculators to benefit from."

(Source: CBI)


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6 Responses to Central Bank Warns Against Speculation in Iraqi Dinar


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    Willard griggs
    13th June 2021 at 15:28 #

    When will the Iraq Dinar get released for the Dollar exchange.


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    Tony Neil
    15th June 2021 at 02:18 #

    Yeah right. I say by the end of June it revalues.


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    Mluna
    15th June 2021 at 18:25 #

    Is a mystery the rate? Because they say is already decided but nothing is international


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    Darb Enerfud
    19th June 2021 at 01:01 #

    No SHOT!!! It will never RV it MIGHT be reinstated in a couple of years that's about it! They are obviously still in chapter 7 if they are keeping the rate at 1440


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    Info Seeker
    12th July 2021 at 21:04 #

    They will never revalue or Reinstate. There is nothing to reinstate. The dinar is what it is.
    Anyone who believe it will get back to $3 or even $1 without a redenomination is totally misinformed. Back when the new dinar was issued in 2003, they gave 1 new dinar for each Saddam note. BUT, then gave 150 new dinar for each original swiss dinar. That was the RV/adjustment right there. period. Back in 1990, Iraq has about 38 billion dinar in circulation. Today, they have about 100 trillion, That dilution is why the dinar rate is low. Not any program rate or any of that other nonsense. Do you homework folks.


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    True Info
    15th July 2021 at 17:25 #

    Use common sense. Of course it's going to reinstate. It has to just by basic economics. You're going to issue small category notes to the citizens of Iraq worth a negative number? Who would believe that? Iraq is going digital with their monetary reforms. They are going to be Article 8, trading on FOREX to be international and to do business with the world. Investors are coming into Iraq to do business. No investor would go there to do business with a program rate of 1460-1560 to 1 USD. That's just crazy and extremely stupid. Don't listen to these people who are negative, it'll never happen etc. It is happening. Pay attention what's going on over in Iraq and make up your own mind. They have their fake news media too.