Iraqi Dinar: IBBC issues Major New Paper on De-Dollarisation of Iraq
Iraqi Dinar: IBBC issues Major New Paper on De-Dollarisation of Iraq
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This revaluation of the dinar combined with restrictions on dollar transactions has also seriously injured private sector businesses that were engaged in exporting. Previously, many contracts between international firms such as oil companies and their Iraqi employees and suppliers were denominated and often paid in dollars. Iraqi employees and firms could then convert these dollars into dinars at the parallel rate – currently about 1,500 ID/$. However, beginning is 2024, the GoI required, that…
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