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. […]
The Colorado Securities Commission has ordered a company promoting speculation in Iraqi dinars, and its director, to stop soliciting investors in Colorado. The commission entered a cease-and-desist order on Thursday against AmIraq Fund LLP, general manager BB&M International Corp, and William Burbank, who serves as CEO and managing director of both companies. The order prohibits them […]
Minister Ali al-Dabbagh, Iraqi Government Spokesman, was interviewed by Padraig O'Hannelly for Iraq Business News at last week's Iraq Mining 2011 conference in London. The first part of the interview can be found here. In this second part of the interview, Dr al-Dabbagh discusses the Hydrocarbon Law, the valuation of the Iraqi dinar, foreign investment […]
CNTV video on rumoured revaluation of Iraq's currency, the Iraqi Dinar:
According to a report from Aswat al-Iraq, an economic advisor to Iraq’s Prime Minister, Nouri al-Maliki, has described the Central Bank of Iraq (CBI)'s plan to redenominate the Iraqi currency as “the worst corruption and money-laundering process in the history of Iraq.” “The CBI must understand that it is playing with fire and undermining the course […]
According to reports from Al-Sabaah, the Central Bank of Iraq is planning to make its new currency forgery-proof. Central Bank Governor Sinan al-Shabibi claims that the new currency's attributes will make it 'difficult' to falsify, and says that the project to delete the three zeros, if implemented, will enhance the value of the Iraqi dinar […]
The Wisconsin Department of Financial Institutions is warning investors about advertised opportunities to invest in Iraq's currency, the dinar. The DFI says several web sites say Iraq's currency is poised to increase in value, even dramatically, but it says investors aren't told that the dinar is only good in Iraq. There is no currency exchange […]
On Wednesday a number of currency dealers in southern Iraq’s Nassirya City reported the spread of a new counterfeit 10,000-dinar notes, according to Aswat al-Iraq. “We have noticed the existence of a false 25,000-dinar currency in the market, being cautious against it, but a new false 10,000-dinar note, with a very close print to the […]
According to a report from Al Sumaria News, Iraq’s Central Bank announced on Thursday that it is planning to delete the zeros from its currency, the Iraqi dinar. This step is one of the bank’s strategic missions, the Central Bank said adding that the new currency will include the Kurdish language in addition to the […]
Iraq’s Central Bank announced on Tuesday that the project to re-denominate the Iraqi Dinar, removing three zeroes, is close to completion. According to the report from Alsumaria TV, the re-denomination project is believed to be a strategic plan that will be passed to the ministerial council and Parliament once complete. A Central Bank’s advisor, Mothahhar […]
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 […]
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 […]
