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Tag: Iraqi dinar currency

Project of Deletion Zeros to be Execute Very Soon: CBI

Project of Deletion Zeros to be Execute Very Soon: CBI

The Governor of the Central Bank of Iraq issued a statement that the project of deletion zeros from Iraqi dinar would be executed in the start of 2017. He also indicated that the Central Bank is working on the first phase of this project. It is further said that the aim of eliminating three zeros from Iraqi dinar currency is to reinforce the Iraqi currency and to make its worth in the international currency market. He also said that strategic…

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Foreign Currencies Auction at CBI on Saturday 6-27-15

Foreign Currencies Auction at CBI on Saturday 6-27-15

On Saturday, a statement issued by CBI that the Iraqi Central Bank opened window for daily buying and selling of foreign currencies and it reached at 282 million U.S dollars in the daily auction by the Central Bank of Iraq. The statement further said that 22 banks participated in this auction and 3 funds transfer companies also involved in this auction. The Central Bank sold Iraqi dinar at the official rate of 1166 Iraqi dinars per U.S dollar. Total amount…

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Today CBI Sold $ 258 million in Daily Auction of Foreign Currencies

Today CBI Sold $ 258 million in Daily Auction of Foreign Currencies

On Tuesday; the Sales of Iraqi Central Bank in the daily auction for foreign currencies have been reached at 258 million U.S dollars, which is against the financial budget law 2015. The 2015 budget law restricted the Iraqi Central Bank not to exceed the maximum limit of 75 million U.S dollar in its daily auction. The Central Bank of Iraq is trying to deal with flood of the U.S dollars which reached more than 1400 Iraqi dinars per U.S dollars….

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Iraqi Cash Reserves Approaching at $ 80 Billion: Finance Committee

Iraqi Cash Reserves Approaching at $ 80 Billion: Finance Committee

The Iraqi Finance Committee refused that Iraqi government used the hard cash reserves to manage the budget deficit problems. It is also said that total cash reserves are 80 billion U.S dollars, in which 69 billion U.S dollars cash reserves and 10 trillion Iraqi dinars. The Finance Committee further said that we are surprised to see the sale of hard cash which is exceeding the predefined limit in the Iraqi budget 2015. It is said that maximum limit for daily…

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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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Changes in Exchange Rate is a Global Incident

Changes in Exchange Rate is a Global Incident

A famous economic expert D. Thuwaini is working on the legislative and institutional framework which is identified by the Iraqi Central Bank’s law 56 in the year 2004. The major goal by this law was to maintain the stability in the price and to the financial system. The other targets involved in this scenario present the maintainable development which will provide more job opportunities. The content of the law allowed freedom to the Iraqi Central Bank to implement its monetary…

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