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Tag: Dinar RV

Iraq Losing Billion Dollars Per Year to Stabilize the Exchange Rate

Iraq Losing Billion Dollars Per Year to Stabilize the Exchange Rate

Dr. Nabil Jaafar Professor of economics in Basra University said that the current rise in the U.S dollar against the Iraqi dinar is due to one of the wars that faced by the Iraq and most of the experts says that one day the Iraqi dinar will be able to fight against the U.S dollar because the Iraqi Central Bank has handsome reserves. These reserves will be used as a weapon to save the Iraqi dinar currency and to maintain…

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CBI Not to Sell Hard Cash to Private Banks: Al Shammari

CBI Not to Sell Hard Cash to Private Banks: Al Shammari

On Wednesday, a member of the National Coalition in the House of Representative MP Kazem Al Shammari issued a statement that Iraqi Central Bank should stop the hard currency sale to private banks and to turn them into governmental banks. He also warned about the presence of Mafias in picking the U.S dollars from the import bills of fake goods, which caused a burning impact on the market and resulted as the downfall in the Iraqi dinar exchange rate in…

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Iraq is looking to Gain International Credit Rating for Its Dominant Bonds

Iraq is looking to Gain International Credit Rating for Its Dominant Bonds

A press statement issued by the Iraqi Finance Ministry that a meeting was conducted by the Iraqi Finance Minister Hoshyar Zebari along with his delegation in the presence of Sheikh Safa Deputy Adviser of Iraqi National Security in Turkey, to discuss with Fitch and Rodez credit rating International. Iraq is looking to get hold for an international credit rating in order to issue self-governing bonds for the improvement and increasing in development of the investment volume. This meeting held to…

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Mechanisms that Controls the U.S Dollar Prices

Mechanisms that Controls the U.S Dollar Prices

If the methods and mechanisms succeed in maintaining and stabilizing the U.S dollar exchange rate, it is considered as controlling the currency exchange rate. A famous economic expert Yasser visited Kurdistan region and met with the Iraqi businessman in his office and he is resident of Erbil near Turkey border. They discussed about the reasons behind rise and fall in the U.S dollar exchange rate against the Iraqi dinar and they identified the controlling forces behind it. They agreed that…

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Assets of Iraqi Dinar Currency Dealers to Seize

Assets of Iraqi Dinar Currency Dealers to Seize

The Federal Authorities are looking to seize all transferable and non-transferable properties from the Georgia based corporation that is dealing in Iraqi dinar currency. The prosecutors said in federal complaint that Atlanta based Sterling Currency Group LLC is one of the largest group selling the Iraqi dinar currency in the United States. The prosecutors said that the business of Georgia based group is based on what they mentioned is a scam used to defraud investors for giving guarantee of revaluation…

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CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

On Thursday, the Iraqi Banks Association issued a press statement that the Iraqi Central Bank has approved to bring in all 14 banks which were left out in cold for currency auction. The statement also indicated that the Central Bank of Iraq has implemented most strict terms and conditions. The Executive Director of the Association Dr. Tariq issued a press statement that the Central Bank of Iraq has taken a decision about few days ago and stopped the 14 Iraqi…

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Iraq Should Improve the Quality and Quantity to Increase Oil Production: Maliki

Iraq Should Improve the Quality and Quantity to Increase Oil Production: Maliki

The Oil Expert Mustafa Al Maliki said in his press statement that there is a most powerful increase in Iraqi oil production and Iraqi oil exports in last three months from the Northern and Southern ports, and we are expecting a rapid increase in the coming periods. He also said that according to the International Energy Agency and Iraq Oil Report, the Iraqi oil export in the month of May was at 3.145 million barrels oil per day with an…

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Launching Liquidity to Maintain U.S Dollar Exchange Rate: PM Adviser

Launching Liquidity to Maintain U.S Dollar Exchange Rate: PM Adviser

The Economic Adviser to the Iraqi Prime Minister Muhammad Saleh issued a press statement that Iraqi government needs instability of the U.S dollar exchange rates in the Iraqi domestic market, and to stabilize the Iraqi dinar exchange rate against major currencies. He also added that the high rise of the U.S dollar in the Iraqi local market was due to maximum daily auction sales limit of 75 million dollars, lower oil prices and smuggling problems. The Iraqi Central Bank announced…

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