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 […]
Tag Archives | re-valuation
Tags: Ahmed Tabaqchali, American University of Iraq Sulaimani (AUIS), Asia Frontier Capital (AFC), Central Bank of Iraq (CBI), Christians, devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Opinion: The Iraqi Dinar needs Political Support!
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) […]
Tags: Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, Dr Amer K. Hirmis, featured, International Monetary Fund (IMF), IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Iraqi Banks undertake Overdue Reforms
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 […]
Tags: banking, Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, Rafidain Bank, Rasheed Bank, re-denomination, re-valuation, Redenomination, reforms
Iraqis Protest against Dinar Devaluation
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 […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, Protests, re-denomination, re-valuation, Redenomination
Iraq Dinar Devalued by approx 20%
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 […]
Tags: Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Iraqis Panic as Leaked doc signals Dinar Devaluation
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 […]
Tags: Central Bank of Iraq (CBI), devaluation, dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Iraqi Dinar Falls in Value
By Editor on 15th December 2020 in Investment, Iraq Banking & Finance News, Iraq Industry & Trade News, Politics
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) […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Iraqi MP says Govt to Devalue Dinar
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 […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination
Experts discuss fate of the Iraqi Dinar
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, […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, Hadi Al Damirji, IQD, Iraq Britain Business Council (IBBC), Iraqi Dinar News, Lehigh University, Massachusetts Institute of Technology (MIT), mn, Professor Frank Gunter, re-denomination, re-valuation, Redenomination, Shwan Aziz, Sloan School of Management, United Kingdom, white paper
Report warns of Possible Collapse in value of Iraqi Dinar
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 […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, featured, IQD, Iraqi Dinar News, mn, re-denomination, re-valuation, Redenomination, reforms, white paper
Serious Questions on the Appreciation of Iraqi Dinar
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 […]
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, Dr Amer K. Hirmis, featured, inflation, International Monetary Fund (IMF), IQD, Iraqi Dinar News, Iraqi Economists Network (IEN), mn, monetary policy, re-denomination, re-valuation, Redenomination
Convictions in $600m Dinar Fraud
The co-owners and chief operating officer of one of the largest Iraqi dinar exchangers in the United States were convicted last month by a federal jury following a five-week trial. Tyson Rhame, James Shaw, and Frank Bell were each convicted of mail and wire fraud conspiracy, as well as multiple counts of mail and wire […]