By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Protests in Iraq amid local currency devaluation, Central Bank changes Restrictions from the US Federal Reserve, corruption, and Iraq's lack of an electronic banking system have all led to the dinar's […]
By Jack Detsch, for Foreign Policy. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. 'They Have to Balance': New Iraqi Leader Tilts the Scales Toward U.S. Mohammed al-Sudani's public support of U.S. troops reflects a behind-the-scenes shift - and the continued threat from […]
By Ali Mamouri for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Explainer: What is behind Iraq's Central Bank shuffle and what is next? The economic crisis in Iraq as a result of the ongoing rise in the value of the US dollar […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Inside story: Dollar crisis shifts winds in Iraq as US confronts Iran Iraq is reemerging as a battleground for Iran and the US as deadlock remains over the 2015 Iran nuclear deal, and […]
By John Lee. According to a report from the Wall Street Journal, Iraqis are blaming the slump in the value of the Iraqi dinar on a recent policy change by the U.S. Treasury Department and the Federal Reserve Bank of New York. It says the NY Fed began enforcing tighter controls on dollar transactions by […]
By John Lee. The Governor of the Central Bank of Iraq (CBI) has reportedly been replaced, following the continuing fall in value of the Iraqi Dinar. Sources, including Associated Press, say that Prime Minister Mohammed Shia al-Sudani accepted the resignation of Mustafa Ghaleb Mukheef [Makhaif] (pictured), while others say the Governor was "sacked." It is […]
By John Lee. On Sunday, Prime Minister Muhammad Shia Al-Sudani chaired a meeting with the Federation of Iraqi Chambers of Commerce to discuss the causes of the fluctuations in the Iraqi dinar exchange rate, and their impact on citizens. The meeting aimed to develop decisive solutions to stabilize the exchange rate and limit damage to […]
By Mustafa Saadoun 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 government struggles to control US dollar price The Iraqi economy is suffering from the US dollar's rise as a result of smuggling dollars outside of Iraq. Click here […]
By John Lee. The Iraqi Cabinet has agreed a package of measures aimed at propping up the value of the Iraqi dinar, following continued downward pressure on the currency relative to the dollar: All government agencies are required to sell all goods and services inside Iraq based on the Central Bank USD exchange rate of […]
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. Iraq Market Report: Currency Upheavals Disrupt Market Activity The market, as measured by the Rabee Securities RSISX USD Index, was down 1.0% for the month and down […]
By John Lee. Prime Minister Muhammad Shia Al-Sudani has urged the Central Bank of Iraq (CBI) to sell foreign currency at official prices to citizens through purchasing with electronic cards, opening sales outlets for travelers, or clients outside Iraq, or financing foreign trade. The order came at a meeting with the Governor of the CBI, […]
The Central Bank of Iraq (CBI) has announced a package of measures to help stabilise the dinar/dollar exchange rate. A translation of the statement from the CBI list the following: Allowing the banks participating in the foreign currency buying and selling window to buy any amounts in foreign currency and deposit them with this bank […]
