By John Lee. Iraq's National Investment Commission (NIC) has issued a directive to all companies building residential complexes in Iraq to follow the official dollar exchange rate set by the Central Bank of Iraq (CBI), specifically 1,470 dinars per dollar. Mrs. Hanan Jassim, the official spokesperson, states that this directive is in accordance with Cabinet […]
Tag Archives | Iraqi Dinar News
Latest Iraqi Dinar News and Iraq currency news including foreign exchange, investment and finance.
Iraqi Delegation to visit US to discuss Dinar Slump
By John Lee. The Iraqi dinar has reportedly fallen to new lows on Thursday, as people take to the streets to protest at the fall in the value of the Iraqi currency, which is leading to higher costs for imported goods. Various reports say that one US dollar could buy as many as 1,750 dinars […]
Protests in Iraq amid Iraqi Dinar Devaluation
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 […]
New Iraqi Leader Tilts the Scales Toward U.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 […]
Explainer: What is behind Iraq's Central Bank shuffle?
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 […]
Inside Story: Currency Crisis in Iraq as US confronts Iran
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 […]
Is US Policy causing Iraqi Dinar Problems?
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 […]
Iraqi Dinar Slump: Central Bank Boss Replaced
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 […]
Al-Sudani takes Measures to address Iraqi Dinar Fluctuation
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 […]
Iraqi Govt struggles to Control US Dollar Price
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 […]
Treasure Hunters search Iraq for IS's Lost Loot
By Martin Chulov and Nechirvan Mando, for The Guardian. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Treasure hunters circle in search of Islamic State's lost loot The ruins of Iraq and Syria are proving a treasure trove, with former foes vying to […]
Iraqi Govt Props Up Value of Iraqi Dinar
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 […]