Iraq Business News brings you the latest news from the Central Bank of Iraq (CBI). Subscribe for regular CBI Iraq updates, including Iraqi Dinar Revaluation and Investment news.
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Inside story: Dollar crisis shifts winds in Iraq as US confronts Iran Iraq is reemerging as a battleground for Iran and the US as deadlock remains over the 2015 Iran nuclear deal, and […]
By John Lee. According to a report from the Wall Street Journal, Iraqis are blaming the slump in the value of the Iraqi dinar on a recent policy change by the U.S. Treasury Department and the Federal Reserve Bank of New York. It says the NY Fed began enforcing tighter controls on dollar transactions by […]
By John Lee. The Governor of the Central Bank of Iraq (CBI) has reportedly been replaced, following the continuing fall in value of the Iraqi Dinar. Sources, including Associated Press, say that Prime Minister Mohammed Shia al-Sudani accepted the resignation of Mustafa Ghaleb Mukheef [Makhaif] (pictured), while others say the Governor was "sacked." It is […]
By John Lee. On Sunday, Prime Minister Muhammad Shia Al-Sudani chaired a meeting with the Federation of Iraqi Chambers of Commerce to discuss the causes of the fluctuations in the Iraqi dinar exchange rate, and their impact on citizens. The meeting aimed to develop decisive solutions to stabilize the exchange rate and limit damage to […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi government struggles to control US dollar price The Iraqi economy is suffering from the US dollar's rise as a result of smuggling dollars outside of Iraq. Click here […]
By John Lee. Kuwait's Burgan Bank has announced that the sale of its 51.8-percent share in Bank of Baghdad (BBOB) to Jordan Kuwait Bank (JKB) has been approved by the Central Bank of Iraq (CBI). The deal's completion is subject to the fulfilment of legal documentation and Iraqi Stock Exchange requirements. Burgan Bank is a […]
By John Lee. The Iraqi Cabinet has agreed a package of measures aimed at propping up the value of the Iraqi dinar, following continued downward pressure on the currency relative to the dollar: All government agencies are required to sell all goods and services inside Iraq based on the Central Bank USD exchange rate of […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq Market Report: Currency Upheavals Disrupt Market Activity The market, as measured by the Rabee Securities RSISX USD Index, was down 1.0% for the month and down […]
By John Lee. Prime Minister Muhammad Shia Al-Sudani has urged the Central Bank of Iraq (CBI) to sell foreign currency at official prices to citizens through purchasing with electronic cards, opening sales outlets for travelers, or clients outside Iraq, or financing foreign trade. The order came at a meeting with the Governor of the CBI, […]
The Central Bank of Iraq (CBI) has announced a package of measures to help stabilise the dinar/dollar exchange rate. A translation of the statement from the CBI list the following: Allowing the banks participating in the foreign currency buying and selling window to buy any amounts in foreign currency and deposit them with this bank […]
By John Lee. The Iraqi government has confirmed its commitment to maintaining the stability of the local market, by supporting the stability of the exchange rate of the dollar against the Iraqi dinar. In a statement, Prime Minister Muhammad Shia Al-Sudani said the government supports the steps of the Central Bank of Iraq (CBI) in […]
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Will Iraq's new government reconsider dinar exchange rate? A number of leaders of the Coordination Framework, the bloc leading the new Iraqi government, are pushing to increase the value […]
