July 2007 News & Updates
Iraqi dinar appreciates following IMF recommendations
July 15, 2007
An Iraqi economic expert attributed the continuing high conversion rate of the Iraqi dinar and the relative decrease in the value of the dollar to the adoption of strict monetary and fiscal policies by the government.
Demand for dollar, exchange rate stable in daily iraqi dinar auction
July 12, 2007
Demand for the dollar was stable in the Iraqi Central Bank’s auction on Wednesday for the third session running, reaching $65.095 million compared with $62.865 million on Tuesday.
Iraq economic & strategic outlook banking sector
July 12, 2007
Global : Iraqi Commercial banks’ assets reported 25% growth for 2005. Iraq Economic & Strategic Outlook – Banking Sector – Although the banking sector in Iraq is key to economic growth and the rapid development of the country, the banking infrastructure is not fully functional yet. Iraq does not have a developed banking sector and regulation is relatively rudimentary.
The minister licensed 50 construction projects with investments estimated at 24.160 billion Iraqi dinars. $1 equals to 1260 Iraqi dinar
July 12, 2007
24 food projects with investments of 4.385 billions iraqi dinar," the statement added. The statement said that the chemical and plastic industries got 24 licenses with investments reaching 7 billions Iraqi dinars and 110 million iraq dinar. "22 licenses were given to mineral industries with investments of 2.010 billions iraqi dinar, in addition to giving 9 licenses to establish textile industries with investments of 228 million iraqi dinars, 8 licenses to wood industries with investments of 205 million iraqi dinar, and 4 licenses for paper industries with investments of 455 million iraqi dinars," the ministry said.