The Prime Minister's Office announced Tuesday that the Cabinet had "approve[d] the decision of the Board of Directors of the Central Bank of Iraq to set the Iraqi Dinar to U.S. Dollar exchange rate at 1,300 IQD per 1 USD" — strengthening the currency by more than 10 percent compared...
(Shafaq News) The Iraqi Private Banks Association confirmed on Monday that the Iraqi government has played a major role in achieving public-private partnerships, noting that electronic payments via bank cards have reached more than IQD21.1 trln ($16.0 bn). (INA) Iraq Stock Exchange Iraq's ...
The second gap resulted from the improvement of the Iraqi dinar exchange rate, which enhanced the purchasing power of government wages with no similar increase in productivity leading to wage increase in the entire labour market, also with no increase in productivity, a principle similar to '...
After the 2009 purchase of IMF gold, the RBI kept its record-large gold reserves unchanged for 8 years, focusing instead on trying to boost the Rupee's exchange-rate value while building its holdings of US Dollars and other foreign currencies. Indeed, there was discussion about selling or len...
Issuing and managing the national currency of Iraq, theIraqi dinar(IQD) Overseeing the payment system along with regulating and supervising the banking sector3 The CBI manages exchange rate policy for the Iraqi dinar, which ispeggedto the U.S. dollar. TheInternational Monetary Fund(IMF) desc...
Financial System Stability: The Central Bank’s supervision and regulation of banks increase the confidence in the banking sector, safeguard depositor funds, and mitigate risks to maintain a robust financial system. Exchange Rate Stability: Stable exchange rates facilitate foreign trade, attract foreign ...
Central bank gold demand topped 1,000 tonnes for the third straight year in 2024. To put that into perspective, central bank gold reserves increased by an average of just 473 tonnes annually between 2010 and 2021.
The CBJ has pegged the exchange rate regime of the Jordanian dinar to the US dollar since 1995. This regime has served us well over the past two decades, and it continues to underpin stability in Jordan’s open economy. In addition, it contributes to strengthening the confidence in the Jord...
In late August, the black market exchange rate hit a record low of 16 per dollar; the official rate was 9.3. Nevertheless, Vanoli insists the currency is not overvalued. Instead, the central bank is using international reserves to defend the official rate. Market analysts predict a new ...
The new rates represent a dramatic reduction from the previous official rate of 1,182 IQD. It is the first reduction in exchange rates that the Iraqi government has made in decades. In a statement, the Central Bank set the new rate for the dinar, which is pegged to the U.S. dollar...