Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. The Central Bank of Iraq (CBI) has reported that 27 banks and 4 remittance companies took part in its currency auction on Thursday. A total of $156,610,848 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. A foreign-exchange crunch cause by the drop in oil prices could force a devaluation of the Iraqi dinar, according to a report from Bloomberg. Data compiled by Bloomberg show that dollar reserves fell by approximately 20 percent to $59 billion as of July 23, while in the first 25 days of August […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 28 banks and 10 remittance companies took part in its currency auction on Wednesday. A total of $218,346,331 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 24 banks and 7 remittance companies took part in its currency auction on Tuesday. A total of $226,224,332 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Delegations from two Iranian banks have visited Baghdad to discuss the resumption of banking ties between the two countries. Morteza Shahidzadeh, the Managing Director of Iran’s Keshavarzi Bank, and Managing Director Hassan Motamedi of Eghtesad Novin (EN) Bank, will meet with top Iraqi banking officials. According to a report from AIN, Iran […]
By John Lee. The Iraqi government has reportedly appointed three major international banks to advise on its first international bond issue in almost a decade. Citigroup, Deutsche Bank and JPMorgan Chase will assist in placing $6 billion (7.2 trillion Iraqi dinars) of new government bonds, in an attempt to bridge the budget deficit. According to […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 23 banks and 5 remittance companies took part in its currency auction on Tuesday. A total of $241,038,417 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 6 remittance companies took part in its currency auction on Monday. A total of $250,535,253 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 8 remittance companies took part in its currency auction on Wednesday. A total of $220,718,529 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has launched a new scheme of loans for "industrial, agricultural and real estate" banks. According to the report from Shafaaq, a total of 5 trillion Iraqi dinars [$4.3 billion] will be made available. The governor of the CBI, Ali al-Alaq, has reportedly promised to make more […]
Fitch Ratings issued its first rating on Iraqi sovereign debt, giving it the fifth-worst junk grade, due in part to the cost of the civil conflict and the global slump in oil prices. The rating comes as the country is planning a $5-billion bond issue towards the end of this year. The international ratings agency […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 22 banks and 8 remittance companies took part in its currency auction on Tuesday. A total of $336,991,311 sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
