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Posts tagged: Dinar

Iraqi Dinar to Devalue?

By , October 15, 2014 3:29 am

Iraqi Dinar to Devalue?

By John Lee.

One possible consequence of the budgetary crisis facing Iraq is a fall in the value of the Iraqi dinar.

As a result of the massive burden of public sector wages and salaries, in addition to subsidies for food and energy, the country faces major expenses in looking after its nearly 2 million internally displaced persons (IDPs).

It must also find the cash to build up its armed forces to fight the continuing threat from the Islamic State.

The Financial Times reports that economists are concerned about 2015, when Iraq will “almost certainly” run a deficit. Baghdad could borrow against its reserves but at the risk increasing inflation and weakening its currency.

According to Luay Khateeb, founder of the Iraq Energy Institute and a fellow at the Brookings Doha Centre, “the moment they do that the Iraqi dinar will devalue.

(Source: Financial Times)

(Dinar image via Shutterstock)

Iraq Business News

The Iraqi Dinar Daily

By , September 5, 2014 6:36 am

The Iraqi Dinar Daily is fast becoming very popular, it is a fast and fun site with updates three times a day with the latest chatter and blurbs from across the Dinar community.


http://www.theiraqidinardaily.blogspot.com/

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio “If you Knew you could not fail, what would you try today?” Philippians 4:13

The Iraqi Dinar Daily

By , August 27, 2014 11:05 pm

The Iraqi Dinar Daily is fast becoming very popular, it is a fast and fun site with updates three times a day with the latest chatter and blurbs from across the Dinar community.


http://www.theiraqidinardaily.blogspot.com/

The Iraqi Dinar Daily

By , August 19, 2014 3:33 pm

The Iraqi Dinar Daily is fast becoming very popular, it is a fast and fun site with updates three times a day with the latest chatter and blurbs from across the Dinar community.


http://www.theiraqidinardaily.blogspot.com/

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio “If you Knew you could not fail, what would you try today?” Philippians 4:13

The Iraqi Dinar Daily

By , August 14, 2014 4:27 am

The Iraqi Dinar Daily is fast becoming very popular, it is a fast and fun site with updates three times a day with the latest chatter and blurbs from across the Dinar community.


http://www.theiraqidinardaily.blogspot.com/

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio “If you Knew you could not fail, what would you try today?” Philippians 4:13

The Iraqi Dinar Daily

By , August 6, 2014 2:02 pm

The Iraqi Dinar Daily is fast becoming very popular, it is a fast and fun site with updates three times a day with the latest chatter and blurbs from across the Dinar community.


http://www.theiraqidinardaily.blogspot.com/

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio “If you Knew you could not fail, what would you try today?” Philippians 4:13

The Iraqi Dinar Daily

By , August 5, 2014 9:32 am

The Iraqi Dinar Daily is fast becoming very popular, it is a fast and fun site with updates three times a day with the latest chatter and blurbs from across the Dinar community.


http://www.theiraqidinardaily.blogspot.com/

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio “If you Knew you could not fail, what would you try today?” Philippians 4:13

The Iraqi Dinar Daily

By , August 4, 2014 10:43 am

The Iraqi Dinar Daily is fast becoming very popular, it is a fast and fun site with updates three times a day with the latest chatter and blurbs from across the Dinar community.


http://www.theiraqidinardaily.blogspot.com/


The Iraqi Dinar Daily

By , July 31, 2014 3:31 pm

The Iraqi Dinar Daily is fast becoming very popular, it is a fast and fun site with updates three times a day with the latest chatter and blurbs from across the Dinar community.


http://www.theiraqidinardaily.blogspot.com/

Please any Questions: send to breitlingcurrency@gmail.com I will get to your questions as soon as possible by personal e-mail, blog post or audio “If you Knew you could not fail, what would you try today?” Philippians 4:13

Poll: ISIS and the Dinar Traders

By , July 25, 2014 10:29 am

Poll: ISIS and the Dinar Traders

Following the insurgency by ISIS/ISIL, and the declaration of a ‘caliphate‘ to be known as the Islamic State (IS), we have seen an increase in enquiries to Iraq Business News regarding the future of the country’s currency, the Iraqi dinar (IQD).

These enquiries typically come from people who have been persuaded to speculate on the currency by buying Iraqi banknotes, often in the hope of a stratospheric returns.

Many of these people, who like to think of themselves as ‘investors’ rather than speculators, genuinely expect to make a thousand-fold return on their money, and therefore are not concerned about the very wide spread between the current buy and sell prices, which can make this a very lucrative trade for currency dealers.

For those who promote the idea that the Iraqi dinar will revalue (or ‘RV‘, as they term it) to 1,000 times its current price, the increase in terrorist activity has several implications.

On one hand, it makes it more difficult to argue that Iraq is on the road to recovery, making the ‘Big RV‘ a more difficult sell. But on the other hand, it provides a useful explanation for why a revaluation, which they have been claiming was imminent for several years, will not occur any time soon. As a result, they can save face and extend the life of their business model. Meanwhile, others have argued that revaluing its currency would provide the Iraqi state with the strength it needs to fight the insurgents.  Read more …

Iraq Business News