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Currency

Any currency crisis usually comes with dire consequences for a country, and the threat of one in Iraq shows how the impact can go beyond the economy and markets.
On Thursday, Central Bank of Iraq said that selling more than 313 million dollars in its daily auction. Rate exchange of 1166 IQD is 1 dollar.
Central Bank of Iraq Withdraw 50 dinars Banknote from trading
The sales of the Iraqi Central Bank reached more than 49 billion USD in 2014.
Sales of dollar by the Central Bank of Iraq and purchases of other foreign currencies rose on today's auction to 190 million 585 thousand dollars, after hitting on yesterday the level of 129 million 717 thousand dollars at a stable exchange rate of 1166 dinars per dollar.
Sales of the Central Bank of Iraq of the US Dollar within its Thursday auction decreased into $ 175 million while the sales on Wednesday were $ 246 million.
A member of the Parliamentary Economic and Investment Commission, MP Noura al-Bajari, confirmed on Wednesday that the initiative to revalue and delete zeros from the Iraqi Dinar is ready for implementation by the Central Bank although it will be delayed by five years given the political and security situation of Iraq.
Maysan police patrols arrested a gang specialized with counterfeiting currency in the city of Amara.
Central Bank of Iraq has announced issuing of a new banknote of 10,000 Dinars.
Sales of dollar by the Central Bank of Iraq and purchase of other foreign currencies went down on Saturday session to / 186 / million / 310 /
The Central bank of Iraq has reported that 15 banks took part in its currency auction on Monday.
On Tuesday, increasing sales of the dollar have been noted by the Iraqi Central Bank at an auction on the sale and purchase of foreign currencies. In the previous auction the sales record was 77.875 million dollars, against a stable exchange rate at 1166 dinars per dollar.
Over the past few years, con artists are using Iraq’s currency to blind their victims. They are encouraging the victims to buy Iraqi dinar and furnishing them the promise that buyers would get lucrative refunds.
Abdel Basset Turki, Governor of the Central Bank of Iraq has clarified that despite of the turmoil within the country due to the insuring terror activities as well as violence, carried out by terrorist groups, it is still important to think about Iraqi currency reform.
The yen rose versus most of its major peers as violence in Iraq spurred concerns oil supplies will be disrupted and bolstered the appeal of haven assets.
Federal prosecutors say they will seek substantial prison terms for two local businessmen found guilty Thursday of swindling investors out of millions of dollars through the sale of Iraqi currency and two nonexistent hedge funds.
Iraqi banknotes have been replaced by the Central Government of Iraq with new ones containing additional security features to make the currency more difficult to counterfeit, it announced last week.
Sales of dollar by the Central Bank of Iraq and purchases of other foreign currencies showed shrunk on today's auction to 188 million 759 thousand dollars, after hit on yesterday
Sales of dollar purchases of foreign currencies on today's meeting rose on today’s meeting to / 280 million / 229 / thousand dollars , after only reached on yesterday / / 180 million / 274 / thousand dollars
The central bank of Iraq has announced that printing new banknotes with new photos, confirming that the current banknotes shall be used now and future.
Sales of dollar by the Central Bank of Iraq and purchase of other foreign currencies rose on today's meeting to 194 million and 938 thousand dollars, after only hit on yesterday session the level of 174 million 383 thousand dollars at a stable exchange price of / 1166 / dinars per dollar.
Sales of dollar by the Central Bank of Iraq and purchases of other foreign currencies rose on Thursday auction to / 215 million / 603 / thousand dollars , after only hit on yesterday meeting the level of / 175 million / 612 / thousand dollars at stable exchange price of / 1166 / dinars per dollar.
Surprising the economists all over the world, the Central bank of Iraq has purchased 36 tons of gold worth $1.52 billion this month in order to help the Iraqi dinars to get stabilized against the foreign currencies.
Revealed an Iraqi diplomat in Washington that the U.S. administration strongly rejects Iraq’s decision to reset currency, or stop the daily auction of foreign currency, which is organized by the CBI.
Qusay Ebadi, a member of the parliamentary Economic Committee said that the issue of lifting zeros from Iraqi currency has been postponed as there are fears the government of money laundering and fraud.
A number of specialists in economic affairs of Iraq have advised that the government to apply the project to delete the zeros, instead of issuing large sections of the currency because it will lead to higher inflation.
In the House of Representatives, the finance committee has confirmed that “the Central Bank of Iraq is not formatted for the time being to replace the Iraqi currency.”
Parliamentary Finance Committee announced that "the reason for postponing of the zeroes deletion from IQD is due to difficulty of controlling the currency, pointing to the presence of nearly 35 trillion IQDs in circulation in market.
Sales of dollar by the Central Bank of Iraq CBI and purchase of other foreign stokes rose on Monday auction to 220 million and 746 000 dollars , after only hitting on yesterday auction the level of , 219 million and 116 000 dollars with a stable exchange rate of 1166 dinars per dollar.
On last Sunday, Central Bank of Iraq, CBI has revealed that the arrival of foreign currency reserves of more than 88 billion dollars, indicating that it contributes to the stability of the dinar could be a “source of pride” for the Iraqis.
After being a hit on Thursday with 178 million and 529 000 dollars with stable exchange rate of 1166 dinars per dollar, sales of dollar by the Central Bank of Iraq CBI and purchases of other foreign currencies rose on Saturday auction to 199 million and 626 000 dollars.
A lot of discussions in Iraq are going on over the need for currency reform so that common citizens of Iraq can save themselves from evils of daily price rise in the commodity market. Moreover, recent disturbances in the US economy have also resulted in fluctuations in the Iraqi dinars. Economic experts and financial committee member of Iraqi government have urged for changing the base currency from the US dollar to some stable currency. On this regard, Chinese currency or Yuan has been proposed by many for
The member of the Finance Committee, MP of the Kurdistan Alliance, Dlair Qadir called the Central Bank of the need to facilitate the procedures for the sale of hard currency for citizens and banking companies to support the Iraqi dinar exchange rate against the U.S. dollar.
Apart from the US shut down crisis, there is another crisis that is shaping up in America, regarding its economic position. The debt ceiling of the US government has reached to new height to record levels reached 10 trillion dollars, an amount much difficult in the absence of indicators of recovery of the US economy, threaten new economic crises threatening the dollar.
Economic Information Center called for Iraq to move from the dollar area and linking Iraqi dinars with a currency which is more stable. In a statement, the head of the center Dergham Mohammed Ali said, “Despite the announcement the White House, the end of the crisis, shutdown the government the U.S. but there is another crisis threatening the U.S. economy is the high ceiling of the government’s debt the U.S. to record levels reached 17 trillion dollars, a large sum difficult to deal with in light of the lac
Student member of the Finance Committee, a Deputy from the Kurdistan blocs Coalition has stated that he is able to exploit the increase in the cash reserve of hard currency to support the Iraqi dinar exchange rate against the US dollar.
On its Saturday auction, the Central Bank of Iraq has announced increase in dollar sales against the Iraqi dinars. The increase has been estimated or calculated with respect to the last auction, which was carried out by the Central Bank of Iraq on last week’s Thursday.
The Reserve Bank of Australia may have breached sanctions on trade with Iraq in 1998 by seeking to sell plastic banknotes to the regime.
The Central Bank of Iraq announced an increase in the US dollar sales in the auction session of Saturday compared with Thursday auction session where the dollar sales reached USD 131,000,000.
The Central Bank of Iraq has declared a rise in the dollar sales in the auction session of Sunday compared with Saturday auction session where the dollar sales reached USD 165,000,000.
Haidar Al-Abadi, the Parliamentary Finance Committee stated, “The coming weeks will see more improvement in the value of the dinar against the dollar which will enhance the confidence of the world.”
A finance committee member of Iraq stated that a law for omitting zeros from Iraqi currencies should be passed in order to confront the issues like debt and money frozen.
The Secretariat General of the Council of Ministers formed a committee that is working on identifying the price of the US dollar in return of Iraqi dinar for all purposes.
On this Wednesday, the Financial Committee has confirmed that the year 2014 will see the deletion of zeros from the Iraqi currency, indicating that the deletion will be in coordination with the Central Bank.
The Central Bank of Iraq announced a decline in the dollar sales in the auction session of Tuesday compared with Monday auction session where the dollar sales reached USD (275,976,000)
Member of the Commission stressed the economy and investment in the House of Representatives on the need to host the Acting Governor of the Central Bank. He also charged the officials to find out the reasons that prevent achievement of tangible progress in the exchange rate of the Iraqi dinar against the dollar.
Iraqi financial expert stated that the value of Iraq’s Federal Reserve currently amounts to about $80 billion, following the recent increase in the country’s oil exports. Nevertheless, no information was made available by the Central Bank of Iraq (CBI) to this effect.
The lifting of the international sanctions from the Iraq government has taken place recently. This led as a chance for the Iraqi government to reduce the difference between Iraqi dinar and other foreign currencies. There are so many discussions taking place of late and most of the economists favor Iraq to omit zeros from its currencies. The Central Bank of Iraq is looking at this matter with high concern and due to building process of strategies, there are some delays. However, there is a threat that has be
The existence of the counterfeit banknotes in the commercial market has been acknowledged by the CBI or Central Bank of Iraq. The bank also affirmed that it will take all necessary steps to remove these counterfeit banknotes from the commercial market of Iraq. Though, it has not mentioned the time frame within which it will remove all those counterfeit banknotes.
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