Article: “Central Bank announces bank equip Rafidain and Rasheed dollar ”
Quote: “The Central Bank of Iraq, Tuesday, for processing bank Rafidain and Rasheed dollars to expand the cash sales outlets.”
This just means they are liberalizing the foreign exchange as the IMF requests in the SBA making dollars more available.
A condition to reduce the spread and get within 2%.
The ultimate goal..compliance and move to Article VIII.
The auction can’t go away until that happens.
These moves were all documented earlier this year.
It just take time for the CBI to do them.
Now we watch and see if the spread comes comes down as a result.
