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Presidential Order 13303: Allows US Citizens to buy dinar and invest in the New Iraq and Iraq dinar . Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen.
(01-22-2012) Iraqi dinar revalue, according to Central Bank of Iraq
Central Bank of Iraq announced, on Thursday, that it revaluated Iraqi Dinar 3.4% in exchange with Dollar. This decision will affect the exchange rate of Iraqi Dinar against US dollar in Iraqi markets, Central Bank stressed.
“During his daily auction of foreign currencies’ exchange, Central Bank raised the value of Iraqi dinar against the dollar with a percentage of 3.4% which counts 4 iraqi Dinars,” deputy governor of Iraqi Central Bank Mazhar Mohammad Saleh told Alsumarianews noting that after the current change each 1166 Iraqi Dinars equal 1 Dollar. “Nominal rate of Dinar doesn’t coincide with its purchasing power or with its real exchange rate against the Dollar,” Saleh revealed.
“The current account of Iraq payments has a surplus of 5 to 8% in comparison with the GDP,” Saleh advanced stressing that this surplus is a strength indicator and points that Central Bank has major reserves.
“Central Bank of Iraq’s decision will affect Dollar exchange rates which slightly increased lately in Iraqi markets,” Saleh declared adding that Iraqi Dinar will become a riveter in Iraqi markets.
Central Bank of Iraq had announced, on Thursday, exchanging Dollar categories for 1166 Dinars per Dollar after it used to sell 1170 Dinars per Dollar. Auctions of the Central Bank are taking place, daily, with the participation of 23 different banks.
At the end of this week’s sessions, Central Bank of Iraq scored a slight decrease of about 1 million Dollars reaching therefore more than 199 million Dollars in comparison with the 200 million Dollars scored on Wednesday.
Deputy Governor of Iraqi Central Bank Mazhar Mohammad Saleh revealed, on December 14, that Central Bank is willing to create 3 money categories following the deletion of 3 zeros from Iraqi Dinar. The currency exchange requires about two years, Saleh pointed out.
Reserves of foreign currencies in Central Bank of Iraq increased, for the first time in Iraqi history, to 60 billion Dollars, Saleh announced on December 6 explaining that Central Bank can curb inflation if it reached two decimal ranks. Current levels don’t raise concern though, he assured.
(12-23-2011) High index of the Iraqi market in Tuesday's session by 1.71%
Index of the Iraqi market in a session on Tuesday increased by 1.71 percent or 136.03 points.
The bulletin said that the contribution of trading of shares during the session was 40 companies out of 86 companies listed electronically, shares of 11 companies were high, while the prices of shares of 17 companies were decreased and 12 companies preserving the prices of shares. The number of shares traded at today's meeting exceeded billion and 889 million share $ 3 billion and 313 million iraq dinar, achieved through the implementation of the 1072 contract traded.
The bulletin added the banking sector traded shares were 12 companies, the price of shares of 6 companies were low, the share prices of two companies were increased, while 4 companies preserving on the prices of shares, exceeding the number of shares traded a billion and 330 million shares worth over two billion and 447 million iraq dinar have been achieved through the implementation of 600 contract circulation.
It also said either the industrial sector has witnessed trading in shares of 8 companies, the price of shares of 4 companies, and prices of shares of 3 companies, while preserving a single company on the prices of shares, exceeding the number of shares of industrial companies with 488 million shares worth more than 539 million iraq dinars have been achieved through the implementation of 297 contract circulation.
The bulletin saw the hotel sector trading of shares were 7 companies, the price of shares of 3 companies were decreased, the shares of two companies grew up, while the two companies preserving on the prices of their shares, and the number of shares traded for the hotel industry 4 million shares worth more than KD 104 million achieved through the implementation of 37 contracts traded.
The bulletin pointed out that the services sector has witnessed trading of shares of 6 companies, the price of shares of two of them were low, the shares of two companies were high, while the two other preserving on the prices of their shares, and the number of shares traded 28 million shares worth more than 120 million dinars have been achieved through the implementation of the 78 contract traded.
The contract of the 383 of non-Iraqi investors were carried out in the sectors of banking, insurance, investment, industry, hotels and services, as 107 contracts were implemented in the sectors of banking, industry, and hotels.
(11-14-2011) The Central Bank of Iraq (CBI) has sold in its Sunday session to sell and buy dinar foreign currencies, 139 million US dollars, on basis of 1,170
Iraqi dinars per dollar, its daily bulletin reported, adding that its previous session had witnessed the selling of 221 million dollars.
"The total size of the CBI's sales on Sunday have reached 139 millions and 20,000 US dollars, covered by the Bank on bais of 1,170 iraq dinar per dollar," the bulletin said.
The CBI's sales in its previous session had reached 221 millions and 750,000 dollars, sold on basis of 1,183 dinars per dollar for its cash sales that reached 12 millions and 320,000 dollars, including the Bank's 13 dinar interest per dollar.
The bulletin repeated its daily comment that none of the banks, including the 17 banks that attended today's session, had offered a single dollar for sale.
The CBI holds 5 sessions weekly to sell and buy its foreign currencies, charging 13 dinars per dollar for both its internal and external sales. (Source)CBI
(06-25-2011) Iraq’s Central Bank announced on Thursday that it is planning to delete the zeros from the Iraqi currency.
This step is one of the bank’s strategic missions; the Central Bank said adding that the new currency will include the Kurdish language in addition to the Arabic language.
“The zeros that were added to the Iraqi currency previously constituted a large money supply up to 28.500 trillion Iraqi Dinar and 5 trillion banknotes”, the adviser of Iraqi Central Bank governor Mothahhar Mohammed Saleh told Alsumarianews.
“The Central Bank has prepared all requirements needed to delete the zeros from the Iraqi Currency”, Saleh said.
“This step is one of the Iraqi central bank’s strategic missions. The monetary policy of the bank aims to structure and reduce the currency in a country moving towards an economic phase”, he added.
“The project of deleting zeroes is complete. It will be submitted to the central bank’s administration in the next session. Then, it will be passed to the ministerial council before presenting it to the Parliament for vote. The mechanisms of changing the currency will be gradual. It will be preceded by awareness campaigns for citizens”, the adviser of Iraqi Central Bank governor said.
“The new currency will be printed after deleting the zeros and will include the Kurdish language in addition to the Arabic language. It will bear as well photos of Iraq’s civilizations and patrimony in addition to symbols of Iraqi intellectuals and figures”, Saleh noted.
On June 19, Iraq’s Central Bank Governor Sanan Al Shebeibi affirmed during the meeting of independent commissions with Prime Minister Nuri Al Maliki that the bank is preparing all requirements needed to replace the Iraqi Currency.
Iraq’s Central Bank has four branches including Basra, Sulaimaniah, Arbil and Mosul. It was founded as an Iraqi independent bank by virtue of Iraq’s Central Bank Law issued on March 6, 2004.
The bank is responsible for the prices stability and the implementation of monetary policy including exchange rates, the management of foreign reserves, the issuance of currencies and the organization of the banking sector. (Source) sumaria
(04-28-2011)ISX (iraq stock exchange) index slightly rises as trading hits iraqi dinar 2.6 billion.
The Iraqi Stock Exchange (ISX) index rose slightly by 0.1% to close at 128.7 points as rates of shares of 16 out of a total 43 traded firms went up with a trading volume exceeding 2.6 billion Iraqi dinars (roughly $2.2 million).
More than 1.503 billion shares worth 2.686 billion dinars exchanged hands through 517 deals with rates of shares of 12 companies going into the red while 15 retained their previous levels," according to an ISX news bulletin received by Aswat al-Iraq news agency.
Non-Iraqi investors obtained 147 purchase deals worth 1.503 billion iraqi dinar (59%), mostly over the banking, industrial and service sectors, and 13 sale deals worth 166 million iraqi dinars over the banking and hotel sectors.
The banking sector took the lead with the 56% of the overall trading activities through 182 deals worth 1.598 billion iraq dinars over 13 firms, followed by the industrial sector with 20% through 178 deals worth 541 million iraqi dinars over 13 firms and the service sector with 15% through 107 deals worth 418 million iraqi dinars over seven firms.
Trading was modest over the hotel, agricultural, insurance and investment sectors.
The ISX was incorporated and began operations in June 2004.
It operates under the oversight of the Iraq Securities Commission, an independent commission modeled after the U.S. Securities and Exchange Commission.
Before the 2003 invasion of Iraq, it was called the Baghdad Stock Exchange and was operated by the Iraqi Ministry of Finance.
Now it is a self-regulated organization similar to the New York Stock Exchange (NYSE), owned by the 50 or so member brokerages.
As of 2005, the ISX was Iraq's only stock exchange.
It opened in 2004 with 15 companies, and now lists more than 100 companies.
Turnover of shares in 2005 was approximately $5 million per trading session.
The ISX now holds five sessions from Sunday to Thursday.
(04-26-2011) The Central Bank of Iraq (CBI) registered $123.072 million sales on Thursday, compared to the previous session's $177.287 million sales, at an exchange rate of 1170 Iraqi dinar per dollar.
The demand hit $4.574 million in cash, covered at an exchange rate of 1,183 iraqi dinar per dollar and $118.498 million in foreign transfers outside the country, covered at an exchange rate of $1,183 iraqi dinar per dollar, according to Central bank of iraq news bulletin.
(04-26-2011) Iraq: Inflation rises to 5.7% due to high electricity prices.
The advisor to the Iraqi Central Bank (ICB) said on Thursday that inflation has jumped from 5.5% in February to 5.7% due rising electricity prices in Iraq.
Muzher Mouhammed told AKnews that the high rate of inflation in Iraq is due to the March hike in electricity prices.
"The rising inflation simply affects the economy but does not compromise the value of the Iraqi Dinar," he assured, "...the ICB has taken steps to curb increases in inflation".
The main task of the ICB is to maintain price stability, to implement monetary policy, to manage foreign currency reserves, to issue currency and to regulate the banking sector.
(04-25-2011) Experts expect Iraqi stock market to grow 200%
In statement to Alsabah newspaper During the celebration ceremony of the second anniversary of starting to use electronic transaction Chairman of Iraqi stock market governors council Faiq Kasab said that the value of transactions in Iraqi stock market for the first quarter of the year reached 274 billion Iraqi dinar and he expected the stock market to grow 200% this year.
Kasab said that electronic transaction made great advance in the performance of Iraqi stock market and put us in the right course to take our natural position within the regional and international markets.
Kasab added saying that the electronic transaction encouraged the investors to enter Iraqi market with confidence because they know that this new system provide precision, speed and transparency.
At the end of his statement Kasab praised the efforts of the technical team who worked on achieving this new system and also he praised the efforts of the management of the stock market for providing the logistic support to make this pioneer experience work and get the required results.
(04-23-2011) Iraqi central bank says that it will submit a law organizing the process of removing 3 zeros from Iraqi dinar.
Advisor of Iraqi central bank Mudher Mohammed Salih said that the central bank is working on drafting a law organizing the process of removing three zeros from Iraqi dinar and upgrading the value or Iraqi currency in local and international economic transactions.
The advisor said that the central bank will submit the law to the Iraqi prime ministry and after approval it will be sent to the Iraqi parliament for endorsing.
Iraqi ministry of finance said on last February that the removing of three zeros from Iraqi dinar will free Iraqi economy of restrictions and enhance the value of Iraqi currency in international monetary fund.
International monetary fund said that it will support Iraqi economy in case Iraq took certain economic measures including privatization of banks, removing three zeros from Iraqi dinar and paying debts.
Iraqi government is working on making some changes on Iraqi currency including removing three zeros from Iraqi dinar to enhance the value of the currency nationally and internationally and end the financial inflation.
(04-22-2011) The central bank iraq has fixed the country's exchange rate at 1,170 Iraqi dinar to $1.
Iraq's annual inflation rate is expected to remain within single digits in 2011 helped by a national food ration programme which is absorbing some of the increases in food prices, a central bank adviser said on Sunday.
A rise in food and energy costs has pushed consumer prices up globally, including in major wheat and rice importer Iraq, but state spending on a food ration scheme that supplies 60 percent of Iraqis has helped cushion the blow.
"I believe the inflation rate will stay in single digits," Mudher Kasim, a senior adviser at Iraq's central bank, told Reuters in an interview.
"There is still a food ration programme which absorbs part of the increase of foodstuff prices.
Also, the central bank always has measures to confront inflation," he said.
Iraq's core annual inflation in February rose to 5.5 percent from 5.3 percent in January, mainly due to a rise in power, rental and housing costs.
The March figure has not yet been released.
Kasim said Iraq's interest rate was currently stable at 6 percent but said the central bank was monitoring it closely as it wanted to keep the interest rate above the core inflation rate.
"Currently there is neither change in the interest rate nor in the exchange rate price, they are stable but we are monitoring the development of inflation," Kasim said.
Iraq last cut its interest rate by 100 basis points to 6 percent last April.
The central bank has fixed the country's exchange rate at 1,170 Iraqi dinars to $1.
Iraq's economy, which has been slow to get back on its feet after decades of war and sanctions, is dominated by oil, which accounts for more than 95 percent of government revenues. The bank defines core inflation as excluding expenditure on fuel. (source)Brecorder
(10-30-2009) Following are the latest Iraqi economic indicators, including data from the Central Bank, the Central Organisation for Statistics and Information Technology (COSIT), the Oil Ministry and the State Oil Marketing Organisation (SOMO).
OIL EXPORTS: Barrels per day (bpd) is the daily average of monthly total exports as reported by the Oil Ministry and SOMO. Price per barrel is the average of total monthly revenue or a range.
Month Total bpd From Basra From Kirkuk USD per barrel
Jan 2009 1.893 mln 1.383 mln 500,000 36
Feb 1.804 mln 1.354 mln 450,000 37
March 1.815 mln 1.393 mln 422,000 43-45
April 1.821 mln 1.400 mln 408,366 47
May 1.905 mln --- --- --
June 1.925 mln 1.400 mln 525,000 65-66
July 2.037 mln 1.493 mln 544,000 60-61
August 2.009 mln 1.490 mln 519,000 68.8
Sept 2.000 mln 1.500 mln 500,000 65
INFLATION:
Data from the Central Bank of Iraq
Month Core CPI y/y % change
Dec 2008 11.7 pct
Jan 9.2 pct
February 7.1 pct
March 8.3 pct
April 3.8 pct
May 4.7 pct
June 8.8 pct
July 7.9 pct
August 10.8 pct
Sept 8.2 pct
Core consumer price index excludes expenditure on oil, gas and petrol and transport. Included components are food, rent, tobacco and drinks, clothes, furniture, medicines and medical services.
UNEMPLOYMENT:
Data from COSIT
Year % rate
2006 17.50
2007 --
2008 15 pct with underemployment at 30 pct
POLICY INTEREST RATE:
Date Rate changed to
Jan 4 14 pct
March 1 11 pct
March 30 9 pct
June 21 7 pct
BUDGET EXPENDITURE:
2009 budget -- $58.6 bln *
2008 budget -- $48 bln + $21 bln supplementary
2007 budget -- $41 bln
(08-03-2009) Demand for the dollar slightly dropped in the Central Bank of Iraq (CBI) auction on Sunday, reaching $102.500 million compared to $112.590 million during the previous session.
“The demand hit $13 million in cash, covered by the bank at an exchange rate of 1,183 Iraqi dinar, and $89.500 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin.
None of the 12 banks that participated in today’s session offered to sell dollars. The Central Bank of Iraq runs a daily auction from Sunday to Thursday.
(07-29-2009) Demand for the dollar jumped in the Central Bank of Iraq (CBI) auction on Tuesday, reaching $191.255 million compared to $148.750 million.
“The demand hit $7.250 million in cash, covered by the bank at an exchange rate of 1,183 Iraqi dinar, and $184.005 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin.
None of the 14 banks that participated in today’s session offered to sell dollars. The Central Bank of Iraq runs a daily auction from Sunday to Thursday.(Source)Alaswat
(07-09-2009) Iraqi Central Bank demanding banks to review interest rates.
Iraqi Central Bank called Iraqi banks to participate in a symposium organized by "Association of Private Banks" on the 15th. of this month, dealing with the foundations of setting interest rates on credits which are showing no signs of growth in banks.
Executive Director of the Association attributed demand atrophy in the market for bank credit to high cost. He said that the results of banks for past year and second quarter of this year, shows limitations of credit provided by banks, compared to deposits.
Board of Directors Chairman of Ashur International Bank, Wadee' Al Handhal, said that the proportion of credit to Gross domestic product ( GDP ) is very low, and below the level of ambition of the sector despite high number of working Iraqi and foreign banks as well as increase in the size of their capital and deposits. He hoped of increasing credit through several ways like: the abolition of the annual credit plan which used to be prepared by the "Central Bank" to banks, granting the boards of directors of banks the freedom to develop a credit plan commensurate with their financial position, the provision of large shared loans and establishment of a joint stock company to be in charge of ensuring bank loans.
The Associate Director-General of banking and credit department in "Central Bank" said that the credit reserve of banks was reflected on liquidity rates which stood at some 60 percent, and that is twice the rate required; this means that there are disabled financial resources which do not have opportunities for credit and safe investment. He added, "The total capital of 35 banks amounts to some 1.2 billion US dollars, but their contribution to granting credit does not exceed 22.5 percent because of their reservation in this area.
(05-14-2009) Deducting a ratio from foreign reserves is a violation to bank’s independence.
The Iraq Central Bank’s adviser, clarified that any deducted ratio from the foreign statutory reserve directly and considering it as governmental revenue to the budget, means borrowing from the bank’s assets and clear violation to its independence.
Dr. Mudhir Mohammad Saleh, told a news briefing that the Central Bank Law does not allow to lend the general budget, otherwise it will lead to miss opportunities of economic and social stability, which are the basis for the development and continuity, noting that conceiving the idea of direct disposal in the reserves, leads to governmental spending of fixed assets.
Salih stressed that the accumulation of these reserves was the result of exchange of a precedent barter with the country's resources of foreign currency earned in order to finance the budget and to cover local expenses. He stressed that this mechanism does not make the Central Bank as an agent of the Government or the official responsible for monetary management of the country's foreign cash inside and outside the country.
He said the difference in this issue shows that the rights are not equal to the value of assets and the differences between the two has been filled with internal governmental debt in the form of bonds, which is contrary to the content of article 26 of the Bank Act No. 56 of 2004. (Source) Central Bank Advisor
(04-26-2009) Central Bank of Iraq sells $62m in foreign transfers.
Dollar sales were slightly down in the Central Bank of Iraq (CBI) auction on Sunday, reaching $62.190 million compared to $68.078 million in the previous session.
“The demand was all in foreign transfers outside the country, covered by the bank at an exchange rate of 1,170 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.
None of the nine banks that participated in today’s session offered to sell dollars.
The Central Bank of Iraq runs a daily auction from Sunday to Thursday.(Source)AswatIraq
(03-16-2009) Dollar demands are increased in the Iraq Central Bank's auction
Dollar sales were raised on the Iraqi Central Bank's auction for the sale and purchase of foreign currency to the double and exceeded 173 million versus $ 83 million and 665 thousand dollars, at the previous session.
The bulletin, which is issued by the Iraq Central Bank noted to the total volume of demand for the dollar stood at 173 million and 460 thousand dollars at a stable exchange rate of 1170 iraqi dinars per dollar.
The bulletin said that this figure is up from the previous session, which recorded a total volume of demand for the dollar stood at 83 million and 665 thousand dollars at an exchange rate of 1170 iraqi dinars per dollar.
(03-04-2009)The Central Markets had achieved an increase of sales by 152% in Iraq
The Central Markets Company announced on its achievement of sales increase for the month of January by 152% compared to sales of the same month in 2008, according to a statement by the Ministry of Commerce.
The statement said that the General Company for Central Markets in the Ministry of Commerce, "announced that the total sales in central markets of Baghdad and other governorates last January was more than one billion and twenty three million iraq dinars", which is an increase of 152% of the total sales for the central markets in the same month last year 2008, which amounted to 671.469.870 iraqi dinar. "
The statement quoted the general manager of the company Hadi Jado'u saying that the company has "announced in the new year on a number of bids for contracting under the mechanism of disposal marketing with public, private and mixed sectors as well as Arab and foreign companies for the purpose of providing materials and merchandise deals."
"It was announced of tenders for purchasing electrical materials from different specialized manufacturers that produce such materials and according to technical specifications, as well as the purchase of small size tires from original manufacturers ... in addition to the tender for providing batteries of 60, 90, 135, 150 A from original sources. "
The general manager of the central market clarified that "goods and materials from the different well known sources (arrived to Iraq), including (washing powder, cleaning materials and shampoos)."
He pointed out that the company's cars had completed, "492 shifts for transporting the ration card items, materials, goods to the central markets in an effort to transfer food supply from southern Iraqi ports to food stores across the country."
(02-05-2009) Demand for the dollar was significantly higher in the Central Bank of Iraq’s (CBI) auction on Tuesday, registering at $189.49 million, compared to $47.925 million in the previous session.
“The demand hit $45.465 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $144.025 million in foreign transfers outside the country covered by the bank at an exchange rate of 1,173 Iraqi dinar per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.
None of the 11 banks that participated in today’s session offered to sell dollars.
The Central Bank of Iraq runs a daily auction from Sunday to Thursday.(Source)Aswat Iraq
(02-02-2009)An increase in the Central Bank's sales
The dollar sales in Iraqi Central Bank's auction had risen after it reached the total price 162.920.000 dollars.
According to the daily bulletin of the bank announced on Monday that the sale price of remittances stood at (1173) iraqi dinar to the dollar, including the commission of the Central Bank (3) iraqi dinars per dollar and the selling price of cash (1176) iraqi dinar to the dollar, including the commission of the Central Bank amounted (6) iraq dinars per dollar and the amount of sold cash was (33,855,000) dollars, while the amount of remittances (129.065.000) dollars.
The bulletin pointed out that the basic price, which won the sale's auction 1170 iraqi dinar to the dollar, and the number of contributing banks in the auction were (14) banks.
The central bank is being paid a commission of (3) iraq dinars per dollar on the amounts.
(01-01-2009) Iraqi dates company back on ISX trading list Jan.
The Iraqi Company for Dates will be back on the share-trading list of the Iraqi Stock Exchange (ISX) next month four years after it had been denied access to the national bourse for failing to provide its final financial statements, the company chairman said on Sunday.
“The company has finalized preparing its financial statements for the past four years. It offered the sheets of two years to the capital market agency while the 2007 and 2008 sheets were referred to the financial control office,” Mahmoud Alloush told Aswat al-Iraq.
The Iraqi dates processing and marketing company, an offshoot of the ISX industrial sector, was founded in 1989 with capital of 50 million Iraqi dinars, now up to more than 6 billion Iraqi dinar. (Source)Aswat Al Iraq
(11-01-2008) Iraq stock exchange (ISX) index decreases by 6.5% in one week.
Iraqi stock exchange (ISX) index lost three points during sessions this week to reach 47.12 points, compared to 50.045 points last week. The ISX index has decreased by 6.5% in the three sessions this week to register 47.12 points.
Traded shares in this week exceeded 1.72 billion iraqi dinar at a total value of over 3.19 billion Iraqi dinars (nearly $ 2.7 million) through implementing 611 contracts.
The banking sector achieved the highest trading volume (90% of the total trading), while the hotel sector achieved 45%.
Trading for Non-Iraqi investors exceeded 457 million iraqi dinar (nearly $387.000), through implementing 51 contracts in banking, industrial, services and hotels sectors.
(10-20-2008) Iraq Central Bank sold 820 million dollars within a week.
The volume of aggregate demand to buy the dollar had increased during the sessions of the Central Bank of Iraq this week, for up to 820 million and 906 thousand dollars against 645 million and 262 thousand dollars last week, a decline in the exchange rate at one point in the middle of the week.
And the total cash demand registered 208 million and 955 thousand dollars, while foreign remittances recorded a size of request amounted to 611 million and 951 thousand.
The demand rate has increased to its higher record, with 164 million and 181 thousand dollars, while the third-quarter of the current year had registered $ 150 million in each session.
This week has witnessed a remarkable disparity in the sizes of requests to buy the dollar during the course of the auction, when the opening session on Sunday last week, registered the minimum requests during the one session worth 110 million and 625 thousand dollars, while on Monday's session, the demand reached to its peak of value at 233 million and 890 thousand dollars, Double the quantity.
The exchange rate for the current week dropped of one point between the opening session on Sunday which registered 1179 dinars to the one dollar, while in the closing session on Thursday registered 1178 dinars, also on Tuesday the exchange rate dropped as well, while the last week sessions did not witness any change.
This week sessions for auction did not register any bids to sell the dollar by the contributing banks in the auction. (Source) AlSaba
(07-24-2008) Iraqi stock market agrees to publish its trading data online.
Executive Director of ISX said that the Board of Governors of the market had taken several resolutions during its third meeting in 2008, including contracting with companies to publish the trading data online, as well as giving contributing companies two months to submit their closing accounts.
Taha Ahmed Abdul Salam explained, "The Board approved the contract with the company (Al-Mubashir) for Investors Service, which will prepare and publish the trading data online to all sites and enable investors to receive services of the company concerning the trading data of the companies and their financial situations." He added, "The Council asked the company to send the agreement contract, which will be for three years, and assigned it to set up a web site to the Iraqi market with advanced specifications, just like the ones of the Arab financial markets. The Iraqi market will not bear any financial cost of providing technological services or the publishing of data."
He noted that "the project of the electronic trading is continual and the Council adopted several resolutions including organizing procedures for training the staff of the Securities and prepare the clearing bank to work with the market testing and the results of the meetings. There are also training courses for loading the trading data of companies and send the outputs to the contributing company whose staff will be trained to deal with these data; also, getting ready to regulate a final test of all intermediaries (a comprehensive trading session) to test the staff and intermediaries in order to grant them licenses for electronic work during the first half of June."
Abdul Salam said, "The Board of Governors of the Iraqi market decided, during its third meeting of 2008, to give the uncommitted contributing companies a period of two additional months to submit their final accounts starting from June 1 until July 31. After this date, the authority would impose a fine of one million iraq dinars for each month of delay and for two months as well." He continued, "The resolution states that in the absence of the company's commitment to provide its accounts, the trading of its shares on the market will be stopped with the imposition of a fine of five million dinars."
It is noteworthy that ISX, which was founded by Law (No. 74) in April of the year (2004) and began its operations in the first trading session in June of the same year, holds three weekly meetings on Sunday, Tuesday and Thursday , where the shares of 94 companies are traded.
(07-24-2008)Trade pays Iraqi dinar 152 billion for farmers.
Trade Ministry offered first batch of money that allocated for farmers as wheat and barley values in Baghdad and sevfen provinces that reaches to iraqi dinar 152 billion, the ministry spokesman said. The provinces' shares were; Najaf iraqi dinar 35 billion, Diwaneia and Kut iraqi dinar 25 billion for each, Hilla iraqi dinar 8 billion, Ramadi iraqi dinar 6 billion, Samawa and Imara iraqi dinar 2 billion for each and Baghdad/ Risafa iraqi dinar 8 billion, the spokesman said.
(02-05-2008)Iraq stock exchange (ISX) opens with 2.5 million share contract on Tuesday
The Iraqi Stock Exchange (ISX) opened its session on Tuesday with a 2.5 million share contract by the Iraqi Islamic Bank at a value of 0.950 Iraqi dinars (1 U.S. dollar =1,220 Iraqi dinars) per share.
A foreign contract was concluded during the session. Al-Warkaa Investment Bank bought 1,000 shares from the United Company, a foreign investment corporation, at 1.350 Iraqi dinars per share.
On Sunday, the index increased by 0.235% compared to the previous session, closing at 34.100 points.
Traded shares in Sunday's session exceeded 658 million at a total value of over $903.703 million by implementing 247 contracts.
Non-Iraqi investors had participated with 58 million shares, totaling more than 120 million Iraqi dinar by implementing 12 contracts in the banking sector.
According to the daily analysis of the capital market, the banking sector's index, in which 13 companies traded, closed at 36.370 points, while the industrial index, in which five companies traded, ended at 11.120 points.
An ISX statement revealed that 26 companies were traded in Sunday's session out of 94 companies registered in Iraq's stock exchange, of which nine indexes went up, 12 dropped, and five maintained their previous price.
(12-18-2007)The banking sector is on top of ISX dealings.
Securities Body revealed that the banking sector came on top in non-Iraqis' transactions during the Market's dealings in the last quarter of the current year.
A statement by the Securities Body said, "circulating non-Iraqis' securities in Iraq Market for Securities began during the last three months; the trading volume reached approximately (2378) million dinars, or the rate of ( 0.9%) of the total trading volume, while the number of shares traded were about (1183) million shares and the number of contracts executed with this interim were (151) contracts."
It added, "The number of companies which their shares have been traded by non-Iraqis, during the last quarter, was (33) companies divided on sectors as follows: the banks (14), investment (2), services (1), industry (12), hotel and tourism (3), agriculture (1)."
The statement said that the banking sector occupied the first place in terms of circulation volume by non-Iraqis by (2234) million iraqi dinar, which make (94%) of the total circulation of non-Iraqis and ranked first in terms of the number of shares traded by (1081) million shares, and also in terms of the number of contracts executed by (76) contracts. It also said that the Bank of Kurdistan ranked first in terms of the circulation of non-Iraqi trading by (2034) million dinars, making (86%) of the total circulation of non-Iraqis and the number of shares amounted to ( 965.1) million shares, which is equivalent to (82%) of the total number of shares in circulation to non-Iraqis during the last quarter of the current year.
(11-09-2007) Daily analysis for Sunday from Iraq stock exchange.
Iraq Stock Exchange hold Second session for this month , the numbers of Traded Companies were (26)and still (23)companies are off Trading Floor because of their General Assembly meeting which they decided to Increase their Capital. The numbers of Traded Shares were (12.380) b/ shares and Trading volume(48.617) b / ID, the price Index was about 36.000 point .Bank sector Index was(36.530),Investment sector Index was(109.180),Services Sector Index was(77.200), Industrial Sector Index was(11.400), Hotels sector Index (14.810).
from the Bulletin we can see the Trading for (13) banks, (1) Investment,(3) Services Company,(7) Industrial companies, (2) Hotels companies. Generally the shares prices were Increased in (2) Companies,Decrease in about (14) &stables in (10).
(11-09-2007) Higher demand for dollar, exchange rate of iraqi dinar down in daily auction
Demand for the dollar was higher in the Iraqi Central Bank’s auction on Monday, reaching $101.040 million compared to $37.615 million on Sunday.
In its daily statement, the bank said it had covered all bids, including $7.500 million in cash and $93.540 in foreign transfers, at an exchange rate of 1,231 iraqi dinars per dollar, a tick lower than yesterday.
None of the 15 banks that participated in Monday's session offered to sell dollar.
In statements, Ali al-Yasseri, a trader, said that the one-tick drop in the exchange rate encouraged traders to make more bids in today's session.
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.
(08-07-2007)Most Arab stocks end July dealings with a rise and Iraq on top.
The Iraqi Stock Exchange outperformed the top seven Arab exchanges yesterday supported by an increase in trading volumes, rising 3.83%, followed by the Egyptian market at 0.96% to over 8200 points, and then the Doha market which rose 0.31% to pass 7600 points.
Saudi market also rose by 0.18% and the Kuwaiti by 0.18%, where UAE dealings hit 3.08 million dinars; Muscat market rose by 0.04% and the Bahraini by 0.03%. However, the Beirut market declined 0.43% and the Moroccan 0.29%. Meanwhile, the Jordanian market was closed yesterday for municipal elections; in sum, most Arab shareholders experienced a rise in July, despite expectations of analysts.
In the Saudi market, the index recorded a slight rise of 0.18% just before the closure to reach the level of 7520.06 points. Volume by 3:15 p.m. (Emirates time) was 88.9 million shares worth 4.3 billion Saudi riyals, across 123,400 transactions involving 98 companies' stocks.
The share price of 30 companies rose, led by Al-Walaa Insurance at 7.79% to 62.25 riyals, while prices of 47 companies fell, notably Eastern Agricultural by 6.38% to 88 riyals. The Kingdom had the lion's share of transactions by a margin of 5.1 million shares at 11.75 riyals.
In Kuwait yesterday, the index rose 0.18% to 2550 points, with 311.3 million shares traded worth 142.4 million Kuwaiti dinars, in 9,500 deals. Jizan company topped the risers at 9.25% to 295 fils, while Nabisco led Kuwaiti decliners at 5.19% to 365 fils; International traders made most transactions, an estimated 34.02 million shares averaging 300 fils.
As for the performance of UAE stocks in Kuwait, Gulf Cement shares have fallen 5 to 480 fils and Al-Fujairah 5 to 330 fils, while Umm al-Quwain fell 2 fils to 182 and Al-Sharjah 5 fils to 375. White Cement shares settled at the price of 164 fils, and Al-Shuaa had no activity, leaving total dealings at 3.08 million dinars.
In Muscat, the Omani market index rose yesterday by 0.04% to close at 6426.66 points with a volume of 8.7 million worth 4.2 million Omani Riyals over 1670 deals distributed among 44 companies.
In Bahrain, the index rose slightly yesterday by 0.03% to close at 2570.07; volume was 4.2 million worth 1.8 million Bahraini dinars. Market valuation rose to 9.2 billion dinars, with United Gulf Bank making the lion's share of transactions, an estimated at 2.04 million shares averaging 0.56 dinars.
In Doha, the market index rose yesterday by 0.31% to close at 7618.08 on a volume of 5.4 million worth 174.5 million riyals on 4,100 deals; prices of 22 companies rose, Technical Inspection on top, up 6.07% to 39.70 riyals.
The prices of 5 companies declined; leading was Al-Salam with 0.66% to 15 riyals, while Al-Riyan had the largest total transactions, an estimated 1.6 million shares at 17.30 riyals. As mentioned, Jordan's Amman Stock Exchange closed yesterday in accordance with article 23 for negotiable securities, to accommodate municipal elections.
In Egypt, the main Egyptian market index as well as Cairo and Alexandria stock exchanges rose yesterday by 0.96% by close at UAE 3:30 local to 8239.97 points. In Beirut, the Plume index declined by 0.43% or 5.1 to 1171.23.
In Khartoum, 4659 banking sector shares worth 8550 Sudanese guineas traded in five deals. Emirates Bank closed at 2.22 guineas. In Iraq, the price index closed at 40.948 points, a rise of 3.38%. In Morocco, the market index dropped by 0.29% to 11430.63.
(07-16-2007) Measured recovery in the Iraq Exchange before opening trading to foreigners.
Traders in the Iraqi financial market expected that the coming stage, before allowing non-Iraqis to trade in the exchange starting on the second of next August, may witness activity moving prices to ambitious levels, paving the way for wide participation by non-Iraqis; this started to show in this week's sessions characterized by unexpectedly high index levels. The banking sector, which has suffered price retreats during the last months, is leading the recovery, an indicator of stable and gradually rising values; the share price of "Bank North", which increased its capital last month from 25 to iraqi dinar 100 bn, jumped from one iraqi dinar to iraqi dinar 4.750 dinars in a week; shareholders disagree about the reason for this.
Exchange dealers expected this trend to continue in the market next month, especially given the expected increase in the number of weekly trading sessions, starting this week, followed by an increase in the number of executed contracts and thus an upturn in transaction volumes and share liquidity.
Sources close to the Iraq Stock Exchange spoke of the Board of Governors' success last year obtaining grant of over seven million dollars to automate trading, and pointed out that a Swedish company is carrying out the automation project which is expected to be completed before the end of the current year.
It should be noted that the market value of shares traded in 2006 fell from $2.136 bn in 2005 to $1.5 bn.
(06-28-2007) Iraqi banks disclose annual profits.
Some private banks issued data on their financial positions and results of their work in the first quarter of 2007, beginning a positive new tradition for Iraqi banks, meeting their obligations from the Board of Securities to report their financial positions to shareholders; this includes showing profit before taxes, reserves, allocations, and other deductions. The data revealed that the Iraqi Investment Bank had profits of 3.196 billion Iraqi dinar, the Gulf Commercial Bank earned 1.270 billion iraqi dinars, profits of Dar Al-Salam Bank were 978 million iraqi dinar, and the Bank of North 2.481 billion iraqi dinar, all reflected in changes in capitalization of the four banks. The capital of the Iraqi Investment Bank is now 29.750 billion iraqi dinar, the Gulf Commercial Bank is 22.344 billion iraqi dinars, while the capital of Dar Al-Salam Bank rose to 50 billion iraqi dinar, and the Bank of North to 100 billion iraqi dinar.
(06-11-2007) Al-Warkaa Bank capital increases to $40.
The General Assembly of the Iraqi Bank, Al-Warkaa for Investment and Finance, approved a recommendation to move 20 billion Iraqi dinars from the accumulated surplus and development reserves into bank capital, raising it from 31 billion to 51 billion Iraqi dinar ($40.5 million), an increase of over 64% in its current capital, through a proportional dividend of new shares to existing shareholders.
According to one of the bank's investors, Hamza Hellbon, this increase is significant considering the overall situation in the Iraqi banking sector and current security difficulties. He said this capital increase can "restore investors' confidence that the sector can overcome difficult circumstances if several conditions are met, notably security, stability and activation of the banking sector development resolutions."
Hellbon added, "Al-Warkaa Bank" is one of the banks that have proved their ability to overcome obstacles to growth, through addressing its financial position seriously and developing a good reputation. As a result, someone who invested at the 1999 founding of the bank has seen his shares appreciate by a factor of 100 [Ed. -an average annual compound growth rate of almost 78%].
The general budget of the bank rose from 437.39 billion iraqi dinars in 2005 to 532.82 billion iraqi dinar at the end of last year, as the amounts deposited in the bank (current accounts and deposits) are now 204 billion iraqi dinar. The bank currently has 55 branches in Iraq, including 19 in Baghdad and 36 others.(Source)Brian Hall
(05-07-2007) Iraq intends to automate its general banking sector
Director-General of “Rafidein Bank”, Abdul Hussein Al-Yasiri, said that implementing the restructuring of the banking sector will begin soon, by the adoption of a comprehensive electronic system and mechanisms to keep pace with new developments.
He pointed out to the establishment of special training centers of the sector, in addition to external courses and preparation of studies to evaluate the annual performance, using research centers and specialists.
He stressed that human resource development is a human long-term investment, leading to upgrade the performance of the banking sector, in addition to the importance of opening branches and offices to provide better banking services for the citizen, in all available areas, pointing out that “Rafidain” (founded in 1941) in about to implement a comprehensive process of development, includes linking all its branches with new techniques that enhance its competitiveness with foreign banks which are expected to open branches in Iraq.
He explained that the role of the banking sector in economic development lies in its ability to mobilize savings and invest them in economic sectors, expanding monetary credit and long-term finance to projects serving the overall development; he added that the investment in this area is the most important factor in the development of the stock market.
He pointed to the success of the Central Bank in raising the price of the iraqi dinar against the dollar, pointing out that the prices of goods and services remains high, which are reflected negatively on the cost of production.
He explained that the process of controlling interest rates have become vested to the banks since 2004, after being confined to the “Central”, and raising interest rates would cut down the lending rates.
(04-08-2007)Iraqi Stock Exchange offering guarantees to foreign dealers.
Observers speculated that the invigoration of the stock market in the Iraqi Stock Exchange during the recent circulation sessions, particularly after the announcement of adopting guarantee mechanisms for the circulation of non-Iraqi investors in the market, may be the beginning of good reception for future transactions compensating the massive losses incurred by stockholders last year, and which resulted from the implications of the security situation, absence of the mechanisms that enhance investment activity and respond to the requirements of the economy market.
Executive Director of the Iraqi Investment Bank, Hamza Hilboon, said that circulation indicators will reach high levels with the start of operating the electronic transaction, early next September, expecting a qualitative development in the circulation, with the entry of non-Iraqi investors.
He pointed out that the recent sessions of the Stock Exchange recorded an encouraging start to various sectors, especially the banks’ shares which maintained the top circulation by very high percentage for a long period.
Executive Director of Ashour International Bank, Zuhair Al-Hafiz, expected that the anticipated positive shifts in the Iraqi Stock Exchange will possess an important part of the Arab and international bourses observations, in light of the desire of Arab and foreign investors to circulate in the Iraqi market of securities, reflecting the increased interest in this promising field.(Source)AlSabah
(01-01-2007) Iraqi Central Bank expecting budget deficit in 2007.
An official at the Iraqi Central Bank expected a deficit in the next-year budget due to pumping dollars into the local market, to preserve the stability of the iraqi dinar exchange rate.
Head of the Department of Statistics and Research at the "Central", Madhar Mohamed Salih, declared that the new budget will exchange allocations by the dollar, pointing out that the rise in the value of the iraqi dinar had a positive impact through limiting expenditures, to reduce inflationary pressures in the Iraqi economy and reduce costs on prices.
He pointed out that 95% of the budget incomes depends on oil revenues, as a basic resource for the country, pointing out that the coming conditions will be encouraging for lifting the value of the iraq dinar against the dollar, but could not determine the rate of exchange only after starting the work by the general budget.
The iraqi dinar continued to rise against the dollar during the auction of the "Central", at a sale price of 1352 iraq dinar last Sunday, compared to 1360 iraqi dinar last Thursday. The expert at the "Central", Majid Assuri, expected a remarkable improvement in the rate of the iraqi dinar, due to the low dollar exchange rate, over the next couple of months. The last rise in the rate of the Iraqi dinar against the dollar exchange rate was in 1995, but then the exchange rate stabilized between 1400 and 1700 iraqi dinar to the dollar.
The "Central" attributed the high rate of the iraqi dinar against the dollar, to the stability in the sale of the dollar below its real exchange rate. Assuri explained that the inflation suffered by the economy now is a price inflation, and not a monetary inflation, pointing out that the aim of the "Central" is to limit the effects of the monetary inflation. As for the price inflation, it is due to the lower commodity presentations, and to the greedy who exploit the circumstances through which Iraq is going. He expected a significant improvement in the rate of the iraqi dinar, and the drop in prices according to this improvement.
(12-07-2006) Decline of the dollar against Iraqi dinar after being purchased by the Iraq Central Bank in the auction, which was opened by the Central Bank of Iraq today and attended by seven Iraqi banks.
The Iraqi Central Bank said in a statement that the main sale price today landed with 1430 iraqi dinar and the purchase price was 1428 iraqi dinar to the dollar.
The Iraqi Central Bank sold today, the amount of six million and 500 thousand dollars and bought one million and 930 thousand dollars.
The statement declared that the sold amount as remittances to abroad was six million and 500 thousand dollars, which reveals the reluctance of local market for the purchase of the dollar and the sufficiency of banks to buy it for the purpose of transfer, explaining that the cash sale price today is 1441 iraqi dinars per dollar.
The Bank has adopted a new monetary policy in an attempt to improve the rate of the dinar against the dollar, according to a program prepared by the Ministry of Planning, in conjunction with the Iraqi Central Bank for the purpose of eliminating inflation rates in the local market.
(12-05-2006) Presentations sale of the dollar exceeds the purchase orders for the first time in the Iraq Central Bank Auction
For the first in the Central Bank Auction, last Wednesday, offers to sell the dollar exceeded the purchase orders significantly. A statement by the Bank said that the purchase orders by the four banks participating in the auction stood at 330 thousand dollars in cash for 20 million and 850 thousand dollars in cash yesterday.
Ali Al-Yasiri, a dealer with the Iraq Central Bank, attributed the significant drop in demand for the dollar to the decline of trading in the Iraqi market, because of the depressed commercial market due to the deteriorating security situation and the danger of dealing with large amounts of funds.
The statement pointed out that the Iraq Central Bank had covered all procurement requests at 1435 iraqi dinars to the dollar, 2 iraqi dinar lower than the price of yesterday. The dollar, today, dropped 2 iraqi dinar, for the fifth day consecutively, against the iraqi dinar (ID). The participating banks in the auction, today, presented offeres to sell the dollar reaching $ 2 million, bought by the bank in full at the exchange rate 1433 iraqi dinar to the dollar.
(11-25-2006) Iraqi dinar continuing rising against the dollar
The rate of iraqi dinar continued rising against the dollar in the Iraq Central Bank auction last Wednesday; the price was 1444 iraqi dinars to the dollar after being 1446 iraqi dinars to the dollar on Tuesday. The Central Bank of Iraq sales, last Wednesday, slumped to reach 11 million and 435 thousand dollars after being 50 million and 115 thousand dollars the day before. The number of banks participating in the auction last Wednesday was 11 banks from 15 the day before.
Iraq Investment Law at Glance
The Iraqi investment law approved by the Iraqi parliament in its session on 10 October 2006 will come into effect after its approval by the president and its publication in the Iraqi Official Gazette. It will regulate the national and foreign investment process in Iraq.
Judge Dr. Wa'il Abd Al-Latif, legal expert, MP and deputy head of the Legal Committee, outlines for Niqash the most important points in the law.
Privileges and Guarantees Offered to Investors: (to continue reading please follow the link. Iraq Investment Law
New Iraqi Dinar 25,000 Dinar Note
The New Iraqi Dinar 25,000 Dinar Note security features are;
Metallic Ink on Iraqi Dinar Note
Security Strip on side of Iraqi Dinar Note
UV Denomination Idenfication in the middle of Dinar Note
Raised Lettering on new Iraqi Dinar Note
In-threaded Watermark on Iraqi Dinar Note
Iraqi dinar is designed and Printed by the De La Rue Company of the United Kingdom.
The price of the Iraq Dinar was 33 cents a piece before the war and $3.35 before sanctions were imposed on Iraq. It is now legal to own New Iraqi Dinar at this 30-year low price of new iraqi dinar.
Iraq’s position as the second largest oil reserve holder in the world, with 95 percent of Iraq’s revenue coming from exported oil. Iraqi investors have announced the establishment of two new private banks, which are: Al Mansur Investment Bank, with a capital 55 billion iraqi dinars (about 38 million dollars), and Tigris and Euphrates Bank for Development and Investment, with a capital of 25 billion iraqi dinars (about 17 million dollars).
Iraqi Dinar - New Iraq Currency Dinar
On October 15, 2003, the new Iraqi Dinar Banknotes were launched by the Central Bank of Iraq in cooperation with the Coalition Provisional Authority in the denominations of 50 Iraqi Dinar, 250 Iraqi Dinar, 500 Iraq Dinars,1000 Iraq Dinar, 5000 iraqi dinars, 10000 Iraqi Dinar & 25000 Iraqi Dinar Bill. The new Iraq banknotes, printed by De La Rue, boast of the most up-to-date anti-counterfeit features, including watermarks, a security thread, raised letters, an optical variable ink and other variations to thwart counterfeiters. The new Iraq currency will supercede all previous 'Saddam' Dinar, and as of January 15th, 'Saddam' Dinar is considered a collectors item.
Iraqi Dinar Facts
Starting October 15th 2003 a new Iraqi Currency known as the ‘new Iraqi dinar’ began to replace the ‘old Iraqui dinar’, and the currency used in the North of Iraq, the ‘swiss Iraqui dinar’. The new Iraqi dinar created a single unified currency that is used throughout all of Iraq. Since the production of the new Iraq dinar, the international demand for the new Iraqi dinar has continued to rise and as well the value of iraqi dinar.
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The 788 daily iraqi currency auction was held in the Central Bank of Iraq day Thursday 10-12-2006 so the results were as follows :
Detail Notes Bank Central Iraq
Number of banks 14 -----
Auction price sell iraqi dinar exchange rate / US $ 1470 -----
Auction price buy new iraqi dinar exchange rate/ US $ ----- -----
Amount sold at auction price (US $) 58.810.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 58.810.000 -----
Total offers for selling (US $) ----- -----
Cash amounts sold to the bank and its customers were USD(24.750.000) at a rate of(1470+1+10=1481) new Iraqi dinar / US Dollar.
The amount sold to make transfers abroad was US Dollar (34.060.000) at a rate of (1470-2)+ one new iraq dinar as a bank fee and exempt the transferred amount from conversion fee.
D.G. of Investments
Daily price Bulletin buying and selling Thursday 10-12-2006
Currency
Currency Code
Selling Price of new Iraqi dinar
Buying Price of Iraqi dinar
European Euro
EUR
1845.664 iraqi dinar selling price
1844.741 iraqi dinar buying price
Sterling Pound
GBP
2731.353 selling iraqi dinar price
2729.987 buying iraqi dinar price
Canadian Dollar
CAD
1295.236 new iraq dinar selling price
1294.589 iraqi dinars buying price
Swiss Frank
CHF
1158.085 iraqi dinar selling price
1157.506 new iraqi dinars buying price
Sweetish Krone
SEK
199.458 dinar selling price
199.358 dinars buying price
Norwegian Krone
NOK
218.788 iraqi currency dinar selling price
218.679 iraqi dinar buying price
Denmark Krone
DKK
247.576 dinar selling price
247.453 iraqi dinar buying price
Japanese Yen
JPY
12.311 new iraq dinar selling price
12.304 dinar buying price
The above iraqi dinar price represent reference exchange rate and does not from any commitment on the Bank Central Iraq.