No foreign reserves support the Iraqi dinar for years * Zwanah: Issuing a new currency needs economic and financial ground and political support
Iraqi dinars are tearing up in the streets of Mosul and other areas under the mob campaign organized by the American occupation forces in Iraq, while many are wondering about the fate of the Iraqi currency and the future of monetary dealings in Iraq, and some analysts believe that as long as the fate of […]
Was Iraqi Dinar Devaluation inevitable?
Mustafa Al-Saffar (a pseudonym) lost 400 thousand dollars in one day, after the decision of the Central Bank of Iraq and the Ministry of Finance to reduce the value of the local currency against the dollar by about 20 percent, in a decision that many described as sudden and “bad timing.” Al-Saffar, who requested that […]