When you look at the CBI forex news on dinars, it is not updated and the information posted is from forex news on the dinar. I would like to know what is the data for years 2013 and 2014?
How much Iraqi dinar is in circulation in the country? The CBI governor has been meeting with government officials and economists discussing monetary policies and security. The Iraqi army and security forces are not at the level required for a full-scale military operation against ISIL. The Iraq forces and Shiite militias have had some success in Iraq. Oil Exports is key to an Iraqi dinar revaluation Iraq has an estimated 120 billion in oil reserves and exporting approximately 2 million barrels a day. Earlier in the year oil exports were closer to 3 million barrels per day before ISIL arrived in Iraq. By the end of 2015, oil exports is estimated to be at 4 million barrels a day.
Higher oil exports will have a significant impact on the value of the Iraq dinar currency. Forex Trading in Iraq would increase the value of the Iraqi dinar worldwide Another option to revalue the Iraqi dinar, you must also need a legal framework for forex trading. At the current time, there is no laws in place that will regulate forex trading. The ISX lacks in this area. The economy needs to improve in 2015 if you’re going to see an increase in the Iraqi dinar currency. The IMF says the growth should increase slightly more than in 2014. Iraq has no existing banking laws for the 12 Islamic banks that are currently operating in Iraq.
How about creating laws that do not restrict banks business and that limits their expansion and development. A bank should be allowed to add banking services to customers. Banks play a part in the value of a countries currency. If Iraqi’s perceive the countries currency as weak, they will not hold onto it and quickly exchange it for hard currency. Dinar notes, but have more security features to guard against counterfeiting, are more durable so will suffer less “wear and tear,” and have many more denominations.
The new currency is convertible into non-Iraqi currencies, including the US dollar. The Iraqi Dinar was supposed to be linked to the gold standard and distributed by an independent authority that was based in London. The Iraq Currency Board, known as the new authority, was proposed to be represented in Iraq by a ‘Currency Officer’. The Iraqi Dinar, legislated to be introduced under Law No. Ottoman capable money began to abide at a account canister against bemused once the War predefined, in Down and elsewhere. The Mortal emancipated this status when Down became part of the British Dual following the war.