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Iraq's central bank must address continued risks of the misuse of dollars at Iraqi commercial banks to avoid new punitive measures targeting the country's financial sector, a top U.S. Treasury ...
WASHINGTON/BAGHDAD (Reuters) -The United States has barred 14 Iraqi banks from conducting dollar transactions, the Wall Street Journal reported on Wednesday, citing U.S. officials. The ban, which ...
The Iraqi dinar [a] (code: IQD) [2] is the currency of Iraq. The Iraqi dinar is issued by the Central Bank of Iraq (CBI). On 7 February 2023, the exchange rate with the US Dollar was US$1 = 1300 dinars.
The National Bank of Iraq became the Central Bank of Iraq in 1956. [5] Since switching over to its own central bank, the Iraqi monetary system was "replete with mismanagement, coercive stop-gap measures, and the production of an unstable, unreliable currency which ha[d] not been tradeable on the international market for [many] years".
1 ⁄ 4, 1 ⁄ 2, 1, 5, 10, 25 dinars (Iraqi dinar banknotes issued before the beginning of the Gulf War and Iraqi dinar banknotes bearing the image of former Iraqi leader Saddam Hussein) Demographics; User(s) Iraq Kuwait (1990-1991) Issuance; Central bank: Central Bank of Iraq: This infobox shows the latest status before this currency was ...
The dinar (/ d ɪ ˈ n ɑː r /) is the name of the principal currency unit in several countries near the Mediterranean Sea, with a more widespread historical use. The English word "dinar" is the transliteration of the Arabic دينار ( dīnār ), which was borrowed via the Syriac dīnarā from the Latin dēnārius .
Executive Order 13303 was issued on May 22, 2003, by United States President George W. Bush to protect the Development Fund for Iraq for the rebuilding of Iraq from any legal attachments or liens. Further, it protects Iraqi oil products and interests and ownership by US persons (defined to include US corporations) from attachment as well.
Despite a highly uncertain domestic and external environment, Al-Shabibi has held the Iraqi currency, the Iraqi Dinar firm at about US$1 = IQD 1'190 (US$1 equalled IQD 2'214 in December 2002), reduced inflation to single digits (from 64% in 2006 to 5.2% in September 2012), quadrupled the bank's gold reserves to 32 tonnes, and remained a strong ...