Most of the Iraqis have lost their believe in their own currency. Foreign investors are showing great commitments and confidence in Iraqi Dinar. This is because, country just has recovered from a long war and killing sanctions. Iraq’s oil exports currently are 2.6 million barrels
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Iraq nowadays is reserving gold and these gold reserves are just to join the central banks from the emerging markets economies like as Russia and Brazil in diversifying its foreign reserves. This is the best effort by the Iraq to bring its economic conditions and
Muzher Muhammad Saleh (Deputy Governor of Central Bank of Iraq) said that recently there will be done amendments in the rules of the bank and with this private banks will have their contribution to the development Iraq and will help in housing and construction projects.
Iraqi Dinar is the national currency of Iraq but right now it is not being traded in the foreign exchange market freely. In foreign exchange markets individuals or companies usually buy the currencies of other countries to gain some profit with the help of day
After the end of Sadam Hussein’s government. The old Iraqi dinar with Sadam Hussein’s picture were rolled back and Central Bank of Iraq issued the new note in late 2003. Now a day’s Iraqi dinar is consisting of six denominations 250, 500, 1,000, 5,000, 10,000