Iraqi Dinar rises against Dollar before doors open to international traders

Iraqi DinarStop Fundamentalism, Thursday July 26 – The Iraqi financial market is expected to open doors to trade from other countries allowing foreign traders to participate in Iraqi exchange market beginning August 2.  This will definitely impact exchange rates in this country.

Iraqi Dinar was sold at 1246 per Dollar today at the Iraqi Central Bank Auction.  This is 12 Dinars lower than mid last month’s prices.  This is also a three Dinars decrease since Monday.

The Iraqi Central Bank reported at it’s website that 18 banks had participated at Thursday’s auction. 

The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

An Iraqi economic expert attributed the continuing high conversion rate of the Iraqi Dinar and the relative decrease in the value of the dollar to the adoption of strict monetary and fiscal policies by the government.