$100 Jumps 8,000 Iraqi Dinars in Days — Panic Hits the Market
Fear has taken hold of Iraq’s currency markets. link to My FX Buddies Blog
The Iraqi dinar continued its sharp decline on Tuesday, with the exchange rate for $100 rising to 157,000 dinars in Erbil — up from 149,000 dinars just one day earlier. Currency traders say the rapid move reflects widespread public concern and a growing rush to hold U.S. dollars instead of the local currency.
According to Tahsin Khushnaw, a currency exchange office owner in Erbil, the balance inside exchange shops has flipped dramatically. Where cash was once evenly split between dinars and dollars, he says nearly…
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