Kaperoni

The reason the currency auctions in Iraq exist are twofold, one is to supply dollars to pay for imports because most if not all international banks do not accept Iraqi dinars as payment since the central bank is in IMF Article XIV…And the most important reason is to maintain stability of the exchange rate of the dinar because the dinar is pegged to the dollar. Therefore, the currency auctions have to exist and will not end until Iraq ‘s currency becomes more convertible worldwide.