Iraqi Dinar IQD
Central Bank: Central Bank of Iraq
Interest Rate: 6.00%
Trade Balance, 2010: $7.84 bln.
Inflation, 2010: 2.4%
Major commodity exporter
weak
High-yielding interest rates
medium
Political and general domestic instability
strong
Monetary risks
weak
Iraqi dinar — a currency issued by the Central Bank of Iraq. As Iraq is recovering after a period of war and prolonged foreign military presence, the economy of the country is booming from the oil exports. This has made the country’s currency a popular investment vehicle for the Forex traders. But for such a volatile currency as Iraqi dinar (IQD), it’s important to receive timely news and analytical forecasts. This category presents the FX news related to the Iraqi dinar.
January 27th, 2012 at 11:55
Iraqi Dinar
The Iraqi dinar gained against the dollar today, but fell back to the opening level later as tensions between Sunni, Shi’ite and Kurdish political groups intensify, adding to the political turmoil and preventing an introduction of the much needed oil law.
Iraqi dinar can be an interesting option for traders who look for currencies with great potential for profit. But such potential often comes with higher risk. How investor can predict performance of the dinar?
Iraqi dinar slipped today on the speculation that Iraqi budget would post the deficit next year, decreasing the appeal of the currency.
The new Iraqi dinar, introduced in 2003 after the fall of the Hussein’s rule, became popular among some investors, who hope it would become much more valuable soon and would bring a big profit. Are such hopes justified or buying the dinar is buying the worthless paper?
