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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.

Earlier News About the Iraqi Dinar: