Iraq's Central Bank has halted the selling of American dollars on its market. This comes after demand for the dollar has fallen.
This could represent a shift in the population towards confidence in the Dinar. If this is the case, coupled with rising interest rates, then the dinar may be on an upswing. The dinar rate today on XE is 1170pd, so let's hope it hits 1000 pd within two years.
So we'll see what happens:
The exchange rate is sensitive to external factors that affect prices of commodities which in turn raise the rate of inflation, a situation that can only be corrected by strengthening the value of the Iraqi dinar and that is an aspiration that is very much desirable, said an official at the Central Bank
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