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Iraqi Dinar Weakens on Outlook for Budget Deficit

December 13, 2010 at 15:04 by Vladimir Vyun

Iraqi DinarIraqi dinar slipped today on the speculation that Iraqi budget would post the deficit next year, decreasing the appeal of the currency.

The specialists predict that the budget deficit may reach $18 billion in the next year. On the other hand, the profits, which may increase because of the rising prices for the oil, can turn a deficit to a surplus by the end of 2011.

USD/IQD traded at about 1,170.00 as of 13:02 GMT after it closed yesterday at 1,169.08 and reached today the intraday low of 1,168.80.

If you have any questions, comments or opinions regarding the Iraqi Dinar, feel free to post them using the commentary form below.

8 Responses to “Iraqi Dinar Weakens on Outlook for Budget Deficit”

  1. Dave Callan

    Dude.

    You called this article “IRAQI DINAR WEAKENS ON OUTLOOK”….

    It didn’t weaken. It strengthened.

    For fucks sake, this is a forex news blog and you can’t reverse calculate traded pairs?! Wow, really great at building confidence…. not,

  2. Andrei Moraru

    Please, read the article carefully. 1,168.80 was just an intraday low for the pair. The title is derived from the IQD weakening (USD/IQD going up from 1,169.08 to 1,170.00).

  3. Sorenson

    Man you are a dreamer :o).

  4. jose

    whenwill da iraqi dinar rv.?????

  5. Andrei Moraru

    When will Iraqi dinar what?

  6. Iraqi Dinar

    Quite understandable…..

  7. kolja

    What is the short and long prediction of value of dinar? Pls no rumors.

  8. Andrei Moraru

    The IQD is pretty unpredictable. Like all the emerging market currencies (and especially oil-bound emerging markets) it should be growing in long-term, but Iraq, as an oil-exporting nation, would want to keep the IQD as cheap as possible.

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