Latest Iraqi Dinar News and Iraq currency news including foreign exchange, investment and finance.
AKnews reports that businesses and currency traders are rejecting 10,000 dinar notes because of rumours about the increasing spread of counterfeit currency. Government sources said last year that an estimated 7 billion dinars worth of forged 10,000 notes came into Iraq from Iran. The fake currency is said to is said to be of high […]
AKnews reports that the process of removing three zeros from the Iraqi dinar and replacing current banknotes with new ones will begin in September. The announcement, which will see the Iraqi Central Bank (ICB) re-print 30 trillion dinars ($26 billion), was made despite government fear over the project. Abdul-Hussein Abtan, a member of the economic […]
According to Kansas-based NBC affiliate KSN, many servicemen and contractors have been persuaded to buy Iraqi dinars as an investment during their tours of duty in Iraq. Please click here to see the full video report: (Source: KSN)
The Iranian currency, the toman, or rial, has lost half its value against the Iraqi dinar in recent weeks following U.S. and European sanctions, according to a report from Azzaman. Iraqi traders welcomed the slump saying it has made the import of Iranian goods much cheaper than before. In the holy cities of Najaf and […]
Iraq now has over $60 billion in foreign currency reserves as a result of the country's oil sales, according to a report from Azzaman. Mudher Saleh, a consultant with Iraq's Central Bank, said the reserves are the highest in the country’s history, and are more than enough to cover the total volume of national currency […]
Central Bank of Iraq announced that it revaluated the Iraqi Dinar by 3.4% relative to the US Dollar, according to a report from Al Sumaria. “During the daily auction of foreign currencies’ exchange, the Central Bank raised the value of Iraqi dinar against the dollar by 3.4%, or four Dinars,” the deputy governor of the […]
The Iraqi Central Bank (ICB) said it’s under a “currency attack” as traders buy U.S. dollars in daily auctions and resell them on the black market in Syria and Iran, which face hard currency shortages due to sanctions, according to a report from Bloomberg. Demand for the dollar at the central bank auctions has risen […]
Iraq's Central Bank says it will not allow the Iraqi dinar to depreciate and has been selling hundreds of millions of dollars to keep the currency stable, according to a report from Azzaman. The dinar weakened in December, prompting the bank to sell dollars in a bid to withdraw cash from Iraqi markets. The bank […]
Security forces in Sulaimaniyah City have detained two people on charges of forging Iraqi money, reports AKnews. The two men were arrested by the security forces with fake money and arms in their possession, after another man who had been detained the previous day on similar charges admitted the charges and identified the other two. The […]
Discussions reportedly took place with the Central Bank of Iraq regarding the dropping of the three zeroes from Iraqi currency. MP Aziz Shareef al-Mayahi, a member of Parliamentary Economic Commission, added that detailed discussions were held on Tuesday with economic experts. The commission will study the suggestions in order to reach a suitable response on […]
A local newspaper in Georgia, USA, reports that some local residents are buying Iraqi dinars in cash form, in the hope of profiting from a revaluation of the currency. According to the Moultrie Observer, people are buying boxes of crisp Iraqi dinars that look fresh off the printing press. It goes on to quote a […]
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. […]
