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The purchase of gold is being considered as a wise decision on the part of central bank of Iraq but you cannot expect dramatic changes in the exchange rate of Iraq because there are many other factors that need to be considering after this purchase that can make or break this deal. The overall economic condition of Iraq is satisfactory even with the terrorism issue.

The militants are said to have full control over Iraq's largest oil refinery in Baiji. Though the security forces of Iraq are resisting against these militants but yet the things are under control of these militants. Some believe that more than 75% of Baiji is under militant's control and security forces will have to leave this area too on the mercy of militants.

Despite the claims of security forces of Iraq, the militants advancement is continue towards Baghdad and now they are in Baquba, the city near Baghdad. According to recent BBC reports, the militants have gained the control of this city and now so close to Iraq capital city Baghdad that is the destination of Islamic militants ISIS.

The policemen and soldiers are killed in these cities in the large number and those who survived escape in the city or ran away in the other cities of Iraq. According to report more than 4000 soldiers were killed in these cities in the counter attacks made by militants in the different areas of these cities.

Keeping the present economic and political condition of Iraq, the experts believe that Iraqi dinar will remain on the mercy of US dollar today and in the near future. The backbone of Iraq may break if the security situation remained same in the country. The oil is considered as backbone of the economy of Iraq and if the situation remained same the things will be out of control.

Iraqi Dinar 123 News:- Economists welcomed the relation of trade that started again after a long break. The trade started between Baghdad and the rest of the world. The Rafidain Bank in London has reopened which is a great thing for Iraq. Its closure caused problems for the country as it helped Iraq in the financial markets.