Tag Archives | devaluation

Market Review: "Market Roars Back to Life"

By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Market Roars Back to Life" The market, after January's 9.3% sell-off, resumed the rally that was ignited by the 22.6% devaluation of the […]

Iraqi Banks undertake Overdue Reforms

By Omar al-Jaffal 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 Banks undertake Overdue Reforms The Central Bank of Iraq (CBI) announced in a statement Dec. 19 the devaluation of the Iraqi dinar to 1,450 to help reduce the […]

Iraq Dinar Devalued by approx 20%

By John Lee. Iraq has reportedly devalued its currency by about 20 percent against the dollar. According to Bloomberg and The Arab Weekly, the Central Bank of Iraq (CBI) has reduced the official rate to 1,450 dinar per US dollar. The previous official rate was 1,182 dinar to the dollar. Reuters adds that the decision […]

Central Bank: "Limited Risk of Devaluation"

By John Lee. Bloomberg quotes Iraqi Central Bank Governor Ali Mohsen Ismail (pictured) as saying that Iraq has enough foreign reserves to maintain its currency peg, but didn’t rule out a minor devaluation to shore up government revenue hurt by the slump in oil prices and the war on Islamic State militants. He said reserves […]

Possible Pressure to Devalue the Dinar

By John Lee. The Acting Governor of the Central Bank of Iraq (CBI), Ali Al-Allaq, has told TR Zawya that foreign reserves currently stand at $68 billion, while the dinar monetary supply is IQD 40 trillion. "At the daily auction of the central bank, we sell about USD 150 million," he said, "which is more than the USD […]