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 Mohammed Muayad Koperly and Osama Tuma Fakhir, for Al Nesoor Law. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Central Bank Introduces Rigorous Regulations for Foreign Currency in Cross-Border Transaction The Central Bank of Iraq (CBI) recently released revised guidelines for foreign […]
By John Lee. UK-based online trading and foreign exchange company ATFX has announced the start of operations in Iraq, in partnership with Iraq's Ashur Bank. The agreement was signed in Jordan by Joe Li, Global Chairman of ATFX, and Ziad Fatayer, the CEO of Ashur Bank. Speacking at the event, Managing Director of ATFX Levant, […]
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. Market Takes a Breather, While the Currency Stabilises The market took a breather after a great three-month run from the January lows, during which it, as measured […]
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. Markets Discount and Look through Violent Clashes The market, as measured the Rabee Securities RSISX USD Index, was up 2.1% for the month, and up 1.2% for […]
By Dr. Zeki Fattah, for The Iraqi Economists Network (IEN). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Dutch Disease and Iraq's Foreign Exchange Rate Economists who studied the reasons for the low per capita growth of GDP in developing countries that rely […]
The Iraqi government's proposal to shrink public-sector payrolls and pension costs as part of efforts to reduce fiscal imbalances and ease financing strains could slow the depletion of foreign-exchange reserves, but will be tough to implement and risks aggravating social unrest, says Fitch Ratings. More here. (Source: Fitch)
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. The market, as measured by the RSISUSD index, marked an important bottom in July as part of a likely bottoming process. The multi-month bank selling shifted […]
By John Lee. There has been a steady increase in the market price of the Iraqi Dinar (IQD) versus the USD, according to an Iraq Business News Expert Blogger. In his market report for the month of June, Ahmed Tabaqchali said the premium over the official exchange rate has fallen to 1.2 percent, the lowest […]
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. Activity in the economy at large, and the market in particular, came to a virtual standstill at the start of the month as it coincided […]
According to a report from AKnews, a number of bankers in Baghdad have demanded that the Iraqi parliament legislates to regulate and protect their businesses from market changes because of the sudden decisions taken by the Iraqi government. Ali Abdul-Zahra, owner of an foreign exchange bureau, told AKnews that banking in Iraq is still precarious […]
