IRAQ'S CBI MAKES A MOVE! New 1,520 Rate for Overseas Card Payments!
DID IRAQ JUST SET A NEW DOLLAR RATE?! CBI Orders 1,520 Dinar Rate for Cards! link to My FX Buddies BlogThe Central Bank of Iraq has issued a new directive to banks and electronic payment service providers concerning the exchange rate used for international card transactions.The CBI has instructed banks and card providers to adopt an exchange rate of 1,520 Iraqi dinars per U.S. dollar for transactions carried out through electronic payment gateways and point-of-sale (POS) devices outside Iraq.But that's not all!The directive also addresses the fees charged to customers. Banks and payment…
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