All who have lived different eras that have experienced Iraq from the Covenant and even 1980s knew that Iraqi dinar remained on strength and stature without being affected by external factors however much adversity.
The Iraqi dinar was equivalent in currency markets (3.30) dollars, and the secret of his strength returns to provide adequate cover and gold which made him the undisputed master of the currency in Arabic, nor dares any Iraqi regime to act in large amounts of gold kept in the Central Bank of Iraq as well as many international banks which enhanced the value of the Iraqi dinar and helped to stabilize prices, and export and import operations, and so things have been fine until an Iranian State war on Iraq In 1980.
Because of wars and especially long which drains financial and human resources had been physically affected by the value of the Iraqi dinar.
Banking expert says Iraqi Al-shammari, the countdown for the Iraqi dinar as of 1985 World required a long and costly war expenditures rears its ‘ arms ‘ extend to the reserve of gold to sell it in large quantities in order to obtain hard currency needed to cover those expenses, the value of the dinar to decline, one dinar was initially $ 1 over time began cracking hard dinar which was a big shock for all Iraqis who were strongly into national currency suddenly came the shock came when Stunned and began to question with bitterness and sorrow: you really have Iraqi dinar stature and brilliance?
He adds, that there were renewed hopes to regain its dinar even though in stages after the ceasefire and the Iran-Iraq war ended in August 1988, 8 where there was some improvement, but stopped two years later when the Iraq disaster Kuwait and second Gulf war and the concomitant plots on Iraq down to put the country under Chapter VII of the Charter of the United Nations and impose harsh penalties on the Iraqi people, and stopped oil export to foreign markets, depriving Iraq of its funds abroad, here The real tragedy of the Iraqi dinar, classes started again, and near-fatal blow to the dinar, with the US occupation of Iraq in April 2003, the dollar was equivalent to about 3, 000 Iraqi dinar!
And if the rest of the State, the Iraqi dinar is not recovering the status of objective reasons in lifting the economic blockade and the flow of Iraqi oil to foreign markets with great rates to bring more hard currency, which in turn will help to increase the reserve of gold, but their expectations – he says-very disappointed and got improved simple and without the level of ambition, though oil exports jumped to about 2.5 million barrels per day at the rate of monthly revenue up to 8 billion dollars About 100 billion u.s. dollars annually, while corruption and bribery and fraud plagues all the joints of the Iraqi Government, but that the Central Bank remained relatively far away from issues of fraud, bribery and corruption, despite widespread talk these days about the foreign currency auction.
Shammari, finds that the current Government led by Nuri al-Maliki’s Dawa party leader built on a sectarian basis, leaving ample scope for affiliated party who hover around the many misconceptions of banditry and suspicious transactions to control financial and economic task of joints, and allowed the party and elect to intervene in major financial issues, until it came to besiege the Finance Minister Rafi Al-Issawi, and arrested his bodyguards and his companions left the Finance Ministry without guards for two days, in an attempt by the Government that had orchestrated the trumped for the Governor of the Central Bank Sinan Al-Shabibi, dimensions of their walshbibi Al-Issawi, and come with elements linked by party head of government economic and financial wemaviath, and exclusion of all who make up a dam in front of money-laundering and smuggling of foreign currency to Iran, and coverage on secret financial cooperation between Iran and Iraq banks and Syria.