Article: “Oil Minister: We hope to announce that Iraq’s oil reserves will rise to more than 160 billion barrels” Good Lordy that’s a lot of barrels…The increase in the reserves could definitely help to strengthen the Iraqi dinar including against the US dollar. When Sudani was saying they ‘re going to have a strong economy…strong dinar, this could be part of the plans he had in mind. There’s no doubt this would definitely increase the strength of the Iraqi dinar. Does that lead to an increase in the Iraq exchange rate? Possibly, but not necessarily. It just helps strengthen the Iraqi dinar and a strong currency eventually leads to an increase in value...
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