By John Lee. Iraq will require that all transactions inside the country are made using the Iraqi dinar from 2024, and not the US dollar. Statement from the Central Bank of Iraq (CBI): In a significant development, the Central Bank of Iraq, under the leadership of Mr. Ali Mohsen Al-Alaq, has revealed its plan to […]
By John Lee. In the latest credit rating report by Standard & Poor's (S&P), Iraq has retained its credit rating at B- / B with a stable outlook. According to the statement from the Ministry of Finance, the report highlights Iraq's financial and economic stability. It continues: "This new rating reflects Iraq's continued economic and […]
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 to Fuel the Market's Next Phase The market, as measured by the Rabee Securities RSISX USD Index, was up 16.3% for the month and up 65.5% […]
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. The Dinar, and the Conundrum over the Dollar and Iran A report in a […]
By David S Cloud, for the Wall Street Journal. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Cracks Down on Dollar Smuggling Under Pressure From U.S. Washington aims to stop the flow of dollars to Iran. Click here to read the full article […]
By Adam Lucente 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 dinar falls 17% against dollar amid US restrictions over Iran deals The current depreciation follows 14 Iraqi banks being barred from using the dollar amid a crackdown on […]
By John Lee. Dozens of people have reportedly protested in front of the offices of the Central Bank of Iraq (CBI) in Baghdad following a fall in value of the Iraqi Dinar (IQD) against the US dollar. Over the previous two days, the dollar is said to have risen from 1,470 dinars to 1,570 dinars. […]
By Lubomir Tassev for Bitcoin.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iran Looking to Replace Dollar With Dinar in $10 Billion Trade With Iraq Iran's government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail […]
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 John Lee. The Central Bank of Iraq (CBI) has recently acquired approximately 2.3 tons of gold, leading to a 1.79-percent increase in its overall gold holdings. With this purchase, the bank's total gold reserves now stand at 132.74 tons, maintaining its rank at 30 among the world's gold-holding nations. The Investments Department of the […]
By Sinan Mahmoud for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqis banned from dealing in US dollars The Iraqi Interior Ministry has banned people from dealing in US dollars in the latest move by authorities to control a fluctuating […]
By John Lee. The Prime Minister of Iraq, Mr. Mohammed S. Al-Sudani (pictured), has said the he anticipates the exchange rate between the Iraqi dinar and the US dollar will stabilize at the official rate of 1,320 IQD. Speaking at the Iraq Forum for Stability and Prosperity in Baghdad last week, he also said that […]
