For a country that has just relaxed a bit after being ruled by dictatorship for almost a decade, the stability in its currency is commendable. There would be no harm in saying that it is the whole new Iraqi Dinar as it has revived after seeing so much war and destruction.
A few months back, on a very short notice the Central Bank Of Iraq scrambled to disrupt the Dinar when the Iraqi Dinar was observed strengthening amazingly against the USD. This act of the Central Bank Of Iraq is still under question. After all, Iraq is the world’s second largest oil holder.
According to the current news on Iraqi Dinar, in the local exchange market, the price of the U.S dollars hits 1270 Dinars, to the dollar in comparison to 1220 Dinars; while on the other, hand Iraqi Dinar sets a declination mark. CBI was also asked about the recently issued new rule regarding the limitations of available U.S currency in the markets. When there was huge demand for it, rumors suggest that humongous amount of currency was smuggled into Iraq for neighboring countries. While a few days back, CBI issued another policy in order to stabilize the exchange rate of the Dinar, against currency trading firms, money transfer companies and currencies of foreign countries for banks.
Lately, in the northern region of Iraq, as per the movement of the currency market, the U.S dollars, in the amount of 12,7000 Iraqi Dinars sold by provincial government showed an increase up to five thousand Iraqi Dinars as compared to the prices of previous weeks.
In the meanwhile, the observers of the Iraqi exchange market presented another current news on Iraqi Dinar stating that huge quantities of smuggled Dollar went from Iraq to Iran and Syria, and it caused paucity of hard currency also.
Considering how several sources have been engaged in currency corruption, analysts are taking it as a symbol that the Dinars have positive prospects for revaluation in the near future. Since a devalued currency would not be the target of the money laundering and smuggling, this is again a good hint for those who have invested in the Iraqi Dinars!
For more information on current news on Iraqi Dinar,new Iraqi Dinar ,Please visit:-http://www.dinargate.com/
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