“The dollar is out of control.” What will happen in Iraq’s banks on Sunday?
“The dollar is out of control.” What will happen in Iraq’s banks on Sunday?
The spark started from Reuters
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An informed banking source in Baghdad expected that next Sunday will be an “unusual day” in all Iraqi banks, and may witness unprecedented overcrowding and crowding at cash withdrawal windows, after a dramatic statement by an official from the Central Bank to Reuters, that withdrawing the dollar in cash will stop as of Early next year, in an effort by the government to limit transactions in dollars to the maximum extent, coinciding with approximately one year since the start of…
The skinny
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