By John Lee. The Deputy Governor of the Central Bank of Iraq (CBI) has reassured the markets that there will be no further devaluation of the Iraqi dinar. Ammar Mohammed said: "It was important to change the exchange rate before approving the budget in order to know the income and budget in dinars ... to […]
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Stock Market Rallies on Currency Devaluation" For Iraq and its equity market the year ended the same way it began, with a bang […]
By Dr Amer K. Hirmis, Capital Business Strategies Ltd. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Dinar needs political support...to serve the economy! The Iraqi Dinar (IQD) was devalued by nearly 23 percent on Saturday, December 19, 2020, from its previous (official) […]
By Omar al-Jaffal 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 Banks undertake Overdue Reforms The Central Bank of Iraq (CBI) announced in a statement Dec. 19 the devaluation of the Iraqi dinar to 1,450 to help reduce the […]
By John Lee. Rudaw reports that hundreds of people protested in Baghdad's Tahrir Square demanding that the government reverse its decision to devalue of the Iraqi dinar against the US dollar. According to The Arab Weekly, the devaluation sparked panic across the country, as people rushed to buy dollars or stock up in supermarkets before […]
By John Lee. Iraq has reportedly devalued its currency by about 20 percent against the dollar. According to Bloomberg and The Arab Weekly, the Central Bank of Iraq (CBI) has reduced the official rate to 1,450 dinar per US dollar. The previous official rate was 1,182 dinar to the dollar. Reuters adds that the decision […]
A leaked draft of Iraq s state budget sent Iraqis into a panic on Thursday as it confirmed the government's intentions to devalue the national currency the Iraqi dinar [IQD], and cut salaries to cope with the impacts of a severe economic crisis. Click here to read the full story from The Independent. (Source: The […]
By John Lee. Dinar value falls as Iraq contemplates currency devaluation MPs say Iraq's 2021 budget is likely to bring a significant drop in the value of the dinar, helping the government's balance sheet but hurting the purchasing power of most Iraqis. More details here from Iraq Oil Report (subscription required) (Source: Iraq Oil Report) […]
By John Lee. A member of Iraq's Parliamentary Finance Committee has reportedly confirmed the government's intention to devalue the Iraqi dinar. MP Jamal Kocher told Shafaq News Agency: "I think that there is a government tendency to create an atmosphere for raising the dollar exchange rate more than it was in previous budgets ... The […]
By John Lee. At a webinar hosted by the Iraq Britain Business Council (IBBC) yesterday, a team of experts presented and discussed their insights on the Iraqi government's recent White Paper, and on the challenges and opportunities facing the country. On the subject of the Iraqi currency, Frank Gunter, Professor of Economics at Lehigh University, […]
By John Lee. An Iraqi government white paper has warned of a possible collapse in the value of the Iraqi dinar. According to Farhad Alaaldin, writing for Rudaw, the recently-approved white paper refers on page 37 to the danger of using the Central Bank of Iraq (CBI) as a source of financing, saying that the […]
The Iraqi Economists Network (IEN) has just published a new report from our Expert Blogger Dr Amer K. Hirmis: Mudher M. Saleh’s testimony re: the appreciation of Iraqi Dinar in 2006-8, raises serious questions? The purpose of this note is to shed light, and comment, on two views expressed recently in relation to the appreciation […]
