After the falling of the Saddam Hussein’s Regime, political and economic reforms created hopes for rebuilding of the infrastructure and for the social, economical and political stability of Iraq. The new monetary system has inculcated such factors, which have brought the attention of the foreign investors towards to the Iraqi dinar once again. All the positive reforms being observed in the country have raised new hopes for a higher value trend in Iraqi Dinar.
The Iraqi government has also added to these positive signs by issuing treasury bills through central bank auctioned in the secondary market. The auction drew the attention of the local banks for purchasing the bills worth 900 billion Iraqi dinars (equivalent $ 628 million) at a token rate of 2.5% and 6.5%. The central bank of Iraq is also been observed to have taken measures to improve the value of the Iraqi dinar by increasing the foreign currency reserves; which would surely increase the exchange rate of the Iraqi dinar to USD.
All the measures would help in re-building of the domestic capital market and re-shaping the debt burden, which was built inappropriately in Saddam Hussein period. Remarkably, these measures have helped in waiving off 80% of the country’s debt by the Paris club. The apparent future aspects of the country’s growth and fundamental improvements along with the country’s growth oriented policy has gained the investor eye on Iraqi dinar.
Beside these above factors, development in the banking sector displays the potential and economic stability of the country. Foreign banks are also showing their interest and a few licenses have been granted to certain banks for starting their operations in the country. The banks, who have decided to start the businesses here, are the Iranian National Bank, National Bank of Kuwait, Bahraini Arab Banking Institute, Standard Chartered, HSBC, and Commercial Housing Bank. The presence of foreign banks in the country is the symbol of the revival of economic stability, which would ultimately help in boosting of the Iraqi Dinar.
Considerable measures have been taken by the world organization like UNICEF, WHO and USAID like giving aid and reforming advice for the growth of the country. These helps have provided the country certain leverage to increase the potential growth in other sectors outside the oil industry. Considering all the above factors, the Iraqi currency has recovered its potential value, which was lost in the Saddam Hussein regime and the Gulf war after effects. People are now in a better position being in possession of the Iraqi dinar and investors too are not going to be at loss while taking great interest towards investing in Iraqi dinar.
For more information on Iraqi dinar to USD ,Please visit:-DinarGate
The Iraqi government has also added to these positive signs by issuing treasury bills through central bank auctioned in the secondary market. The auction drew the attention of the local banks for purchasing the bills worth 900 billion Iraqi dinars (equivalent $ 628 million) at a token rate of 2.5% and 6.5%. The central bank of Iraq is also been observed to have taken measures to improve the value of the Iraqi dinar by increasing the foreign currency reserves; which would surely increase the exchange rate of the Iraqi dinar to USD.
All the measures would help in re-building of the domestic capital market and re-shaping the debt burden, which was built inappropriately in Saddam Hussein period. Remarkably, these measures have helped in waiving off 80% of the country’s debt by the Paris club. The apparent future aspects of the country’s growth and fundamental improvements along with the country’s growth oriented policy has gained the investor eye on Iraqi dinar.
Beside these above factors, development in the banking sector displays the potential and economic stability of the country. Foreign banks are also showing their interest and a few licenses have been granted to certain banks for starting their operations in the country. The banks, who have decided to start the businesses here, are the Iranian National Bank, National Bank of Kuwait, Bahraini Arab Banking Institute, Standard Chartered, HSBC, and Commercial Housing Bank. The presence of foreign banks in the country is the symbol of the revival of economic stability, which would ultimately help in boosting of the Iraqi Dinar.
Considerable measures have been taken by the world organization like UNICEF, WHO and USAID like giving aid and reforming advice for the growth of the country. These helps have provided the country certain leverage to increase the potential growth in other sectors outside the oil industry. Considering all the above factors, the Iraqi currency has recovered its potential value, which was lost in the Saddam Hussein regime and the Gulf war after effects. People are now in a better position being in possession of the Iraqi dinar and investors too are not going to be at loss while taking great interest towards investing in Iraqi dinar.
For more information on Iraqi dinar to USD ,Please visit:-DinarGate
