Tag Archives | Central Bank of Iraq (CBI)

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.

CBI Currency Auction Results, 24th July

By John Lee. The Central Bank of Iraq (CBI) has reported that 9 banks took part in the first of its two currency auction on Thursday. A total of $110,683,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. In its second auction, 15 banks took part, buying a total of $185,890,000 […]

New Dinars Have Improved Anti-Forgery Features

By John Lee. Iraq is introducing new Iraqi Dinar notes with improved security features, such as guarantee ribbons and the internationally used SPARK feature. The Central Bank of Iraq treasury director Ihsan Shamran al-Yasseri announced the move, noting that this was a positive step forward that would help strengthen the currency. The new notes, to […]

Budget Delay Hits KRG Banks

By John Lee. The delay in adopting Iraq's federal budget, in large part due to the dispute between Baghdad and the Kurdish Regional Government over oil exports and revenues, has reduced banking activity in the KRG by up to 25%, according to Adham Karim Darwesh. Darwesh, the manager of the Erbil branch of the Central Bank […]

Central Bank of Iraq Buys 36 Tonnes of Gold

By John Lee. The Central Bank of Iraq has purchased 36 tonnes of gold valued at $1.6bn to help stabilise the Dinar against foreign currencies, Bloomberg reports. Iraq is now the 43rd largest holder of gold reserves globally, having already held 29.8 tonnes as of August last year, but the latest purchase is one of the biggest by […]

Economists Divided Over Deletion Of Zeros

By Amina al-Dahabi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the […]

Dinar Exchange Rate Linked to Oil Exports, Federal Reserves

By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. According to an Iraqi financial expert, the value of Iraq’s federal reserves currently amounts to about $80 billion, following the recent increase in the country’s oil exports. Nevertheless, no information was […]