From 4,000 to 900 Dinars: How a Fatwa Changed the Dollar Market
A major shift is unfolding inside Iraq’s exchange markets.
link to My FX Buddies Blog
In Erbil, the price difference between the so-called “blue” and “white” U.S. dollars has dropped sharply — from nearly 4,000 dinars to just 900 — following a religious ruling prohibiting discrimination between dollar denominations.
According to statements made to Kurdistan 24, market representatives confirmed that the change occurred immediately after a fatwa was issued by the Supreme Council for Fatwas, declaring that charging extra amounts based on the color or condition of the dollar is forbidden.
Market…
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