Latest Iraqi Dinar News and Iraq currency news including foreign exchange, investment and finance.
By John Lee. An MP and member of the Parliamentary Economic and Investment Committee, Aziz Sharif al-Mayahi, has demanded that the Iraqi Central Bank dismiss and replace some "influential figures" in the Bank who allegedly manipulate the exchange rate of the Iraqi dinar against the US dollar. The article in AIN refers to what it […]
By John Lee. The Trade Bank of Iraq (TBI) has issued a Visa Debit Gold Card for dollar-denominated accounts currency, according to a statement from the bank, reported by AKnews. The statement quoted director general of the bank, Hamdiya al-Jaff [Hamdiya Al-Jaf, Hamida al-Jaf], as saying: "The issuance of such cards encourage citizens to deal […]
By John Lee. MP Abdul Hussein Raisan, of the Ahrar bloc, has said that deleting the three zeros from the Iraqi currency was "inappropriate due to the present economic conditions". Citing a lack of real reforms in the banking sector, he said that the economic situation is not suitable for such a change, according to a […]
Better Business Bureau (BBB) is warning consumers across the United States to be wary when considering any foreign currency investment, particularly the Iraqi dinar. Over the years, BBB complaints nationwide about dinar investments allege a number of scams surrounding the profit potential of dinar currency investments. For this reason, BBB advises consumers looking to buy […]
The Iraqi Central Bank (ICB) said on Sunday that the deletion of zeros from the currency still needs further deliberations with relevant institutions, according to a report from AKnews. The ICB added that it is seeking to make the Iraqi currency stronger and more stable through new mechanisms with regard to dealing with banks for […]
The Iraqi Parliament and the Finance Committee support the Central Bank of Iraq (CBI)’s efforts to revalue of the Iraqi Dinar through the removal of three zeros from the currency, according to a report from AKnews. The CBI has announced that it has finalized plans to remove three zeros from the Iraqi currency in order […]
Trade Arabia reports that Iraq's core inflation slowed to 6.2 per cent in May, down from 6.7 per cent in April. The fall was due to a drop in the costs of food and housing said Mudher Kasim, deputy governor of the central bank. In April, the country saw high annual inflation mainly due to […]
Reuters reports that Iraq’s central bank, struggling to stem an illicit tide of dollars into sanctions-bound Iran and Syria, has had some success in steadying its own dinar by pumping dollars to Iraqis through two state-run banks. Late last month the central bank allowed U.S. dollars to be sold at a fixed rate through two […]
Last week the Central Bank of Iraq (CBI) announced that it was authorizing the two largest state-owned banks, Rafidain Bank and Rashid Bank, to sell US dollars at auction. The CBI’s goal is to reduce the spread between its own auction rate and the unofficial “street” exchange rate, which has recently been as wide as […]
In Iraq, where barely anyone has a bank account, the trade in foreign currencies is largely unlicensed. Now money traders are smuggling US dollars to sanctioned Syria and Iran. And the Iraqi govt may well be using the situation for its own political ends too, according to this report from NIQASH. The Iraqi dinar is […]
Iraq has decided to hold off on a plan to knock three zeros off the nominal value of bank notes of its currency because it does not believe the economic climate is suitable, reports Reuters. The central bank said last August that it planned to redenominate the Iraqi dinar to simplify financial transactions in an […]
The finance committee in the Iraqi Council of Representatives warned on Wednesday about the deterioration of the Iraqi economy due to the low exchange rate of the dinar to the US dollar, assuring that proposals are underway to get the country back on its feet, reports AKnews. According to AKnews, the Iraqi dinar hit its […]
