The World Bank says it expects Iraq’s gross domestic product (GDP) to grow by 12.6 percent in 2012, and 10.2 percent in 2013, following a growth of 9.6 percent last year.
On January 26, 2012, In Iraq - US, Iraq Currency, Iraq Dinar, Iraq Finance News, Middle Eastern Investments, By William Burbank
If achieved, this would give a compound growth of 36 percent in just three years.
This follows a downward revision of growth expectations for the world as a whole, with the global economy expected to expand 2.5 and 3.1 percent in 2012 and 2013 (3.4 and 4 percent when calculated using purchasing power parity weights), versus the 3.6 percent projected in June for both years.
The World Bank says it expects Iraq’s gross domestic product (GDP) to grow by 12.6 percent in 2012, and 10.2 percent in 2013, following a growth of 9.6 percent last year.If achieved, this would give a compound growth of 36 percent in just three years.
This follows a downward revision of growth expectations for the world as a whole, with the global economy expected to expand 2.5 and 3.1 percent in 2012 and 2013 (3.4 and 4 percent when calculated using purchasing power parity weights), versus the 3.6 percent projected in June for both years.
On January 23, 2012, In Iraq Finance News, By William Burbank
Baghdad / term
Central Bank of Iraq, said Thursday, raising the price of the Iraqi dinar against the dollar by 3.4%, confirming that the decision would affect the exchange rate of the dinar against the U.S. dollar in the Iraqi market. The deputy governor of the Central Bank of the appearance of Mohammed Saleh in an interview for “Alsumaria News”,
“The Bank’s work on raising the prices of the Iraqi dinar against the dollar during the sessions for the sale and purchase of foreign exchange by four dinars and by 3.4% to up to 1166 dinars to the dollar,” noting that “the price of the dinar nominal is not commensurate with the purchasing power to him or the real price of the exchange rate dinar against the dollar. ”
Saleh added that “current account payments to Iraq where a large surplus relative to GDP, a rate of 5-8%,” stressing that “the surplus is a sign of strength and not vice versa as well as the existence of large reserves of the Bank.” Saleh pointed out that “the dollar exchange rate in the Iraqi markets that recently experienced a slight increase will be affected by the decision of the Central Bank of Iraq,” adding that “the Iraqi dinar will be attractive in the Iraqi market.” The Central Bank of Iraq announced, yesterday, Thursday, for his buy and sell dollar price of 1166 dinars during the auction, hosted by the daily participation of 23 banks, up from the selling and purchase price of 1170 dinars to the dollar and recorded sales of Central Bank of Iraq at the conclusion of its sessions for the current week slightly lower at about one million dollars to more than $ 199 million, compared to Day on Wednesday, which reported a nearly $ 200 million.
The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh (January 14, 2012), all intended to put three categories significantly after deleting three zeros from the Iraqi dinar, pointing out that the process of replacing the currency will take two years. As announced in favor of the (January 6, 2012) for high reserves of the Iraqi Central Bank foreign currency to the $ 60 billion for the first time in the history of Iraq, while stressing its ability to curb inflation if it came to ranking places, considered that current levels do not raise concern. And the foundations of the Iraqi Central Bank as an independent institution under the law issued on the sixth of March of 2004, as an independent body is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector to promote the system competitive financial and independent. It is noteworthy that the CBI is being daily sessions for the sale and purchase of foreign currencies with the exception of public holidays during which depends on those.
http://almadapaper.net/news.php?action=view&id=57989
On December 26, 2011, In Iraq - US, Iraq Currency, Iraq Dinar, Iraq Finance News, Middle Eastern Investments, iraq, By William Burbank
The Iraqi dinar is the official currency of Iraq. The nation remains mostly isolated from international monetary markets. The country has no genuine sovereign credit, there’s little demand for its currency which stays thinly traded. All Iraqi property, such as its currency are viewed as currently being a very great risk. The Iraqi dinar value, or the Iraqi dinar exchange rate, is effectively decided through the central bank via it’s US dollar auctions.
The Iraq dinar was originally introduced in 1932 when Iraq grew to become independent from British rule. The dinar changed the Indian rupee that had been introduced by the British following winning management of Iraq from Turkey in WWI. The Iraqi dinar has been a managed or controlled money throughout its life.
The Iraqi Dinar is issued by the national central bank. The dinar value includes a long history as being a controlled unit of currency. Rarely, if ever, has the money been permitted to float freely. Upon its introduction, one Iraqi dinar was made equal to 13.5 rupees and pegged to the British pound. It remained pegged towards the pound until 1959 when its peg was switched to the dollar. The Iraqi money continues to be pegged to the US dollar.
Following the first Gulf War and the imposition of UN economic sanctions, financial circumstances within Iraq worsened sharply. By 1993, inflation had rocketed to an amazing annual rate of more than one thousand %, unemployment was at a massive 50 percent and also the Iraqi dinar exchange rate dropped considerably. Throughout 1994, it required about 2,500 dinars to buy one US dollar. To support the Iraqi dinar, various measures had been launched in 1996 such as new laws allowing Iraqi residents to own overseas money bank accounts.
Subsequent to the second Gulf conflict, new arrangements were created to be effective on fifteen October 2003 to issue a new Iraqi dinar and to control the Iraqi dinar exchange rate. Because those new arrangements were launched, the Iraqi Dinar Valuehas steadily been elevated. The current exchange rate is 1,170 dinars for one US dollar.
Figures printed by the Central Intelligence Agency (CIA) in its World Fact Book show the quantity of Iraqi dinars required to purchase one US greenback was at 1,475 dinars in 2005, 1,466 in 2006, 1,255 in 2007, 1,176 in 2008 and 1,170 in 2009. All indicators point to the currently prevailing exchange rate steadily increasing in the not too distant future.
Iraq is wealthy in raw oil, now possessing the second biggest level of confirmed crude oil reserves after Saudi Arabia. Iraq lately quantified its proven raw oil reserves at 143 billion barrels, compared to Saudi Arabia with 265 billion barrels of proven reserves. More importantly, these reserves are easily available and as a result the oil has a low cost to manufacture. About 95% of Iraq export income is generated from crude oil or oil derivative commodities.
As political security strengthens, and the economy restores efficiencies, crude oil output will rise and nationwide wealth should spread broadly among the Iraqi people, the Iraqi dinar worth might be anticipated to strengthen significantly over its present level.
Just like most currencies in the world currently, the Iraqi dinar value is vital to those who do business internationally. The opportunities available to those who are considering investing means tracking the Iraqi dinar exchange rate consistently.
Translator
Corporate Status
Ameraq Exchange & Services Group is licensed to conduct business in the British Virgin Islands, United States & in Iraq.
| 
| 
Ameraq holds a registration with the United States Treasury Department, British Virgin Islands and with Iraq.
| | Ameraq holds a registration with the United States Treasury Department, British Virgin Islands and with Iraq.
Weather in Iraq
| Today | 01/29/2012 | 01/30/2012 |
|---|---|---|
 Clear 61°/39° | Clear 59°/39° |  Partly Cloudy 63°/46° |