Hey Mom, What's For Dinar?

The Iraq Stock Exchange, located in Baghdad, is up 25% this year. It is up nearly 40% since September! The ISX index has been in existence since 2004 and open to foreign investors since 2007. The national currency of Iraq is the dinar. It has been gaining on the US dollar which trades for just under 1200 dinars.

The exchange is comprised of 95 companies and operates without computerization. Trading is recorded and updated using whiteboards and erasable markers. About 97% of the activity is domestic. At the ISX website you can see photos and read more about the companies traded.

Currently experiencing the greatest gains is the hotel sector which is comprised of six hotel stocks. The industry is taking off because of all the foreign contractors needing room and board. Their banking sector is also doing well as stability returns to the country.

Does anyone else see the irony?