Tag Archives | Dinar Revaluation News

Latest Iraqi Dinar Revaluation News from Iraq Business News – including Foreign Exchange and Investment.

Deleting Zeros from Dinar "Needs Further Deliberations"

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 […]

Iraq Halts Plans to Drop 3 Zeros from Dinar

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 […]

More Details of New Iraqi Dinars

AKnews reports that Iraq's new currency will include three languages: Arabic, Kurdish, and English. It will also include archaeological features including those of the Kurdistan Region. Speaking on behalf of the economic committee in the Iraqi Council of Representatives, Muhama Khalil said that deleting the three zeros, and restructuring the currency will provide significant economic […]

Removing Zeros from Iraqi Dinar to Start in Sept

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 […]

Video: Dealing in Dinar

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)

Iraqi Dinar Increases in Value

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 […]

Iraqi Dinar Under Attack

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 […]

Central Bank Defends Weak Iraqi Dinar

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 […]

CBI Discusses Dropping Three Zeroes from Currency

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 […]

Iraqi Dinars "One of the Most Foolhardy Investments you can Make"

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 […]