Tag Archives | IQD

Iraq Growth ‘12%’, CBI to Stay Independent

Iraq has told the International Monetary Fund that its central bank would remain independent, despite Prime Minister Nouri al-Maliki winning a court ruling in January placing the central bank under the control of the cabinet, rather than the parliament. The ruling attracted criticism that the Central Bank of Iraq (CBI) might lose its independence. The […]

IMF Suggests Stable Iraqi Dinar

A report on Monday by the International Monetary Fund (IMF) suggests that the Iraqi dinar is currently fairly valued at 1170 dinars to the US dollar: “The CBI [Central Bank of Iraq] will continue to aim at keeping inflation low, predominantly by maintaining a stable exchange rate. The low level and the relative stability of […]

Iraqi Dinar Revaluation Enthusiasts are Unaware of Bernie Madoff’s Fame

By Tom Cleveland, market analyst for Forex Traders, exclusively for Iraq Business News. Forextraders.com is an online resource for the foreign exchange market. “Buy on the rumor, sell on the news” is a time-honored investment phrase that is oftentimes more confusing than the wisdom it attempts to impart. The meaning relates primarily to company securities […]

Arab League Sets Deadline for Customs Union

Iraq’s commercial attaché in Egypt said on Monday that the Arab League has set a 2012 deadline for the completion of a unified customs table in preparation for the 2015 launch of the Arab Customs Union. “The customs tables include all the goods that are traded in the world, and therefore rerquire enormous effort,” Ali […]

Iraq May Legislate on Currency Exchange

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 […]

Big Increase in Iraq’s Foreign Currency Reserves

The Iraqi Central Bank announced recently an increase in its reserves of foreign currency to more than $ 50 billion, up from $ 41 billion at the end of the first half of 2010. Mohammed Salih, an advisor to the bank, said in an interview with Radio Free Iraq that this increase is attributable to […]

IMF Dissatisfied with Iraq’s Monetary Policy

The International Monetary Fund (IMF) has cited Iraq’s monetary policy as the reason for turning down an Iraqi request for a loan package to reduce its 2011 budget deficit, an advisor to the Iraqi government said on Sunday. AKnews reports that despite the IMF’s rejection, talks between Iraq and the fund continue. “The IMF… is […]

Japanese Iraqi Dinar Scam

Bloomberg reports that Japanese consumers are being warned about an investment scam selling Iraqi dinar on predictions the currency will surge in value. A man in western Japan spent 2 million yen ($25,000) to buy 500,000 Iraqi dinar ($428) after a caller recommended buying the currency because it was expected to gain as much as […]

The Future for the Iraqi Dinar

We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example: Will the Iraqi dinar increase in value? Will the currency be re-denominated, dropping the ‘three zeros’? Is it wise to buy Iraqi dinar? Firstly, Iraq Business News is not in a position to give investment advice. […]

Removing Zeros From Iraq’s Currency Requires ‘Consultation’

According to media reports, Iraq’s Central Bank said on Tuesday that the decision to remove the three zeros from the Iraqi currency would require consultation with the next government. Quoting a consultant refered to as Mohammed Saleh, the report says that deleting three zeros from the currency would negatively affect Iraqi citizens, but would facilitate […]

Alsumaria TV to Re-Run Dinar Re-Denomination Prog

“Bi tarikh Al Ghad” is a weekly political talk-show prepared and presented by Ahmad Hassan and directed by Yaseen Mohamad Amin. It retraces the latest major political developments taking place in Iraq and handles events from a leading-edge angle. “Bi tarikh al ghad” projects the consequences of newest developments on the political process and highlights […]