Central Bank Tightens Rules on Buying Dollars
The Financial Times reports that Iraq’s central bank has tightened its clampdown on its sales of dollars, amid fears that buyers are using them to launder money and skirt international sanctions on...
View ArticleIraq Has Cash Reserves to Fight Dinar Depreciation
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...
View ArticleIraq 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...
View ArticleIraqi Dinar Exchange Rate Manipulated?
By John Lee. Investigators in Iraq have opened an inquiry into alleged manipulation of the exchange rate between the Iraqi dinar (IQD) and the US dollar, and arrest warrants have reportedly been issued...
View ArticleWhat’s the Real Reason for Shabibi’s Dismissal?
Perhaps the biggest story of recent days was the shock dismissal of the Governor of the Central Bank of Iraq (CBI), Sinan al-Shabibi, and the issuing of arrest warrants for him and many of his staff....
View ArticleQuestions About Practices of Private Iraqi Banks
By Omar al-Shaher, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Privately held Iraqi banks have almost entirely...
View ArticleCalls to Address Dinar Rate Fluctuation
By John Lee. The First Deputy Chairman of the parliament has reportedly demanded that the Central Bank of Iraq address the fluctuating exchange rate of the Iraqi dinar against the US dollar, and...
View ArticleUS Man Pleads Guilty to Illegal Dinar Sales
By John Lee. An American man has pleaded guilty to operating an illegal business selling Iraqi dinar. ArgusLeader reports that 60-year-old David Olmsted, also known as Dale Cooper Jr., received daily...
View ArticlePoll: End of the Road for the Dinar Scam?
By Guest Blogger. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. For several years, con artists have been peddling the myth of a massive...
View ArticleAPRIL FOOL: How to Make Millions Selling Iraqi Dinars
The great Iraqi dinar scam, in which con artists peddle the false hope of a massive revaluation of the Iraqi dinar, seems to be finally dying out. That makes the time right for one of the architects of...
View Article$billions “Siphoned off” from Iraqi Dinar Auctions
By John Lee. Finance Minister Hoshyar Zebari has shown The Financial Times documents that appear to be part of a probe by Iraq’s parliamentary finance committee, purporting to show how an individual...
View ArticleFinancial Fraudsters Hit ‘Dollar Market’ In Kurdistan
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In Iraqi Kurdistan, locals often trust...
View ArticleCBI Stops Dollar Sales, Foreign Currency Transfers to Kurdistan
By John Lee. The Central Bank of Iraq (CBI) announced on Tuesday that it will block foreign currency transfers to Iraqi Kurdistan, and stop selling dollars to four major Kurdish banks. The decision...
View ArticleIncrease in Internet Scams Entraps Naïve Baghdad Locals
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. By Ibrahim Saleh. An Increase In...
View ArticlePrice of Iranian Goods Falls 30% in Iraqi Kurdistan
By John Lee. A sharp fall in the value of the Iranian rial has reportedly reduced the price of Iranian goods in the Kurdistan Region of Iraq by 30 percent, boosting demand. According to Rudaw, trade...
View ArticleZeros Will Not be Removed from Iraqi Currency
There has been much speculation in recent months that the Iraqi dinar would be re-based, knocking off the last three zeros. The lastest news is that Iraq will not in fact remove the zeros from its...
View ArticleCentral Bank Wants to Drop Zeros from Iraqi Dinar?
Various websites are quoting the Governor of Iraq’s Central Bank, Mohammed Salih, as saying the he wants to delete three zeros from the Iraqi currency after the formation of the new Iraqi government....
View ArticleIraq May Legislate on Currency Exchange
According to a report from AKnews, a number of bankers in Baghdad have demanded that the Iraqi parliament legislates to regulate and protect their businesses from market changes because of the sudden...
View ArticleIraqi 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...
View ArticleCentral Bank Tightens Rules on Buying Dollars
The Financial Times reports that Iraq’s central bank has tightened its clampdown on its sales of dollars, amid fears that buyers are using them to launder money and skirt international sanctions on...
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