Replacing the Iraqi dinar with the dollar

My FX Buddies · Oct 9, 2023 · 35m

Replacing the dinar with the dollar

link

Finally, the Central Bank of Iraq announced in a statement last week that “the coming year will witness the restriction of all internal commercial and other transactions to the Iraqi dinar instead of the dollar, except for those delivered to travelers.”

Financing foreign trade will be directly for merchants dealing in remittances outside the electronic platform, through licensed banks that will deal with correspondent banks in foreign transfer operations and in the local currency of the country from which the merchant wants to import. Then the dollar…