By John Lee. A meeting of the Iraqi Cabinet this evening approved an increase in Iraq's quota at the International Monetary Fund (IMF) by 831.9 million Special Drawing Rights (SDR), equivalent to 1.45 trillion Iraqi dinars [$1.1 billion] based on the exchange rate as of October 8, 2024. This 50-percet increase in Iraq's previous quota […]
By John Lee. The Central Bank of Iraq (CBI) has identified irregularities in the operations of several exchange companies regarding the sale of U.S. dollars allocated to travellers. A recent audit and monitoring of company practices revealed that some exchange firms have been charging citizens a commission of 50,000 dinars for purchasing dollars, double the […]
By a Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Iraqi Dinar Revaluation Scam: An Examination of False Hope and Financial Deception Introduction The notion that the Iraqi Dinar (IQD) will appreciate in value by an unprecedented multiple has circulated in […]
By John Lee. On a recent webinar organised by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University explained the causes and effects of Iraq's dual exchange rate. The three reasons why Iraq has two exchange rates are: Excessive Demand for US Dollars Internationally: There is a high demand for US dollars […]
By John Lee. On a recent webinar organised by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University outlined the key changes in the dinar exchange rate over the years, as well as the consequences of having two exchange rates. (For more on the reasons why Iraq has two exchange rates, click […]
By John Lee. On a webinar organised by the Iraq Britain Business Council (IBBC) on Tuesday, Professor Frank Gunter of Lehigh University and Dr Ahmed Tabaqchali of AFC Iraq Fund (and Expert Blogger on Iraq Business News) discussed the drivers of the Iraqi dinar exchange rate. The event marks the official launch of the IBBC's […]
From the Iraq Britain Business Council (IBBC): Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC's advisory council on the challenges of de-dollarisation for Iraq. The Advisory Council members and IBBC members have actively contributed […]
By Dana Taib Menmy for The New Arab. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Federal Board of Supreme Audit exposes US$600 million corruption scandal involving 'ghost travellers' Over 151,000 Iraqi citizens acquired US currency at the official rate for travel but […]
By Ahmed Tabaqchali, Chief Strategist of Asia Frontier Capital (AFC) Iraq Fund, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A fistful of Dinars: demystifying Iraq's dollar auction The Central Bank of Iraq's (CBI) […]
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. Banks End the Year with a Bang The market, as measured by the Rabee Securities U. S. Dollar Equity Index (RSISX USD Index), was down 8.4% for the […]
By John Lee. The Central Bank of Iraq (CBI) has announced that the cash credit ratio to total deposits in the Iraqi banking sector reached 52 percent in 2023, marking an increase from 47 percent in 2022; it was approximately 55 percent in 2021. Despite the rise, the Central Bank noted that the ratio did […]
By John Lee. On Thursday, Iraq's Finance Committee, chaired by Atwan Al-Atwani, convened with its members and the Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, to discuss monetary policy, the banking system, and methods to increase the value of the Iraqi dinar. Al-Atwani stressed the importance of monitoring the economic file and […]
