For the U. In Iraq, prices are quoted both in dinars and dollars, but many prefer the greenback, locals interviewed by Reuters said. Saja Majeed, a year-old civil servant in Baghdad and a mother of two, said she carries dollars in her wallet because it is safer and she sees little opportunity for the dinar to rise. Revaluation will only happen once the Iraqi government stabilizes.
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Related Articles. Macroeconomics How the U. Dollar Became the World's Reserve Currency. Partner Links. The currency has been grounds for multiple scams over the years. Ammar Mohammed said: "It was important to change the exchange rate before approving the budget in order to know the income and budget in dinars Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
By Dr Amer K. Hirmis, Capital Business Strategies Ltd. Iraqi Dinar needs political support No SHOT!!! They are obviously still in chapter 7 if they are keeping the rate at They will never revalue or Reinstate. There is nothing to reinstate. The dinar is what it is. Back when the new dinar was issued in , they gave 1 new dinar for each Saddam note. BUT, then gave new dinar for each original swiss dinar. Back in , Iraq has about 38 billion dinar in circulation. Today, they have about trillion, That dilution is why the dinar rate is low.
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