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)
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Tags: dinar, Dinar Revaluation News, featured, fitch ratings, foreign exchange, forex, forex reserves, IQD, Iraq Budget News, mn, rv
Iraqi Dinar may replace US Dollar in Iran-Iraq Trade
Iranian ambassador to Baghdad said Iran and Iraq are weighing plans to eliminate US dollar in trade transactions and also lift visa requirements for citizens of the two countries. Speaking at a TV program on Saturday night, Iraj Masjedi said Tehran and Baghdad are considering plans to use Iraqi dinar for trade transactions or develop […]
"Steady Increase" in the Iraqi Dinar
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 […]
Tags: Ahmed Tabaqchali, Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, exch, featured, foreign exchange, forex, IQD, Iraqi Dinar News, re-denomination, re-valuation, Redenomination
Market Review: “Of Banks and Budget Surpluses”
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 […]
Tags: 2018 election, AFC Iraq Fund, Ahmed Tabaqchali, Asia Frontier Capital (AFC), dinar, Dinar Revaluation News, elections, featured, foreign exchange, forex, IQD, stock market
Price of Iranian Goods Falls 30% in Iraqi Kurdistan
By John Lee. A sharp fall in the value of the Iranian rial has reportedly reduced the price of Iranian goods in the Kurdistan Region of Iraq by 30 percent, boosting demand. According to Rudaw, trade between the Kurdistan Region and Iran amounted to $6 billion in 2016, falling to around $5.05 billion in 2017. […]
Increase in Internet Scams Entraps Naïve Baghdad Locals
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. By Ibrahim Saleh. An Increase In Internet Scams Entraps Naïve Baghdad Locals Over the past few months there has been an increase in stories about money-making scams on Facebook. Ill-informed […]
CBI Stops Dollar Sales, Foreign Currency Transfers to Kurdistan
By Editor on 4th October 2017 in Investment, Iraq Banking & Finance News, Iraq Industry & Trade News, Politics
By John Lee. The Central Bank of Iraq (CBI) announced on Tuesday that it will block foreign currency transfers to Iraqi Kurdistan, and stop selling dollars to four major Kurdish banks. The decision part of an effort to put pressure on Iraqi Kurdistan after its population voted overwhelmingly in favour of breaking away from Iraq […]
Tags: Central Bank of Iraq (CBI), dinar, featured, forex, IQD, Kurdish Independence, Kurdistan News, referendum
Financial Fraudsters Hit ‘Dollar Market’ In Kurdistan
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In Iraqi Kurdistan, locals often trust the local exchange counter more than big banks. But a recent rash of fraud on the informal money market has seen savings lost and […]
$billions "Siphoned off" from Iraqi Dinar Auctions
By John Lee. Finance Minister Hoshyar Zebari has shown The Financial Times documents that appear to be part of a probe by Iraq's parliamentary finance committee, purporting to show how an individual close to the previous government used currency auctions to siphon $6.4 billion from the state. A spokesperson for former Prime Minister Nouri al-Maliki […]
Tags: Central Bank of Iraq (CBI), Corruption, currency auctions, dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, forex, Hoshyar Zebari, IQD, Iraqi Dinar News, re-denomination, re-valuation, Redenomination
APRIL FOOL: How to Make Millions Selling Iraqi Dinars
The great Iraqi dinar scam, in which con artists peddle the false hope of a massive revaluation of the Iraqi dinar, seems to be finally dying out. That makes the time right for one of the architects of the scheme to make some more money, this time writing a book about her road to riches. […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, forex, Goldman Sachs, How to Make Millions Selling Iraqi Dinars, Illuminati, IQD, Iraqi Dinar News, re-denomination, re-valuation, Redenomination
Poll: End of the Road for Iraqi Dinar Scam?
By Guest Blogger. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. For several years, con artists have been peddling the Iraqi Dinar scam – the myth of a massive revaluation of the Iraqi dinar, but that may be about to change. Using a range […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, forex, IQD, Iraqi Dinar News, re-denomination, re-valuation, Redenomination
US Man Pleads Guilty to Illegal Dinar Sales
By John Lee. An American man has pleaded guilty to operating an illegal business selling Iraqi dinar. ArgusLeader reports that 60-year-old David Olmsted, also known as Dale Cooper Jr., received daily Federal Express packages with shrink-wrapped piles of dinar bills that had been smuggled out of Iraq and into Jordan. The man, from South Dakota, was […]