The issue with the currency is this – there is not enough United States dollars in Iraq…Since it [dollar smuggling] was so out of control the United States decided to limit the amount of dollars…putting the squeeze on the US dollar which is in high demand in Iraq…legally you’re only supposed to get 1450 [Now 1310] dinars for every US dollar. On the black market…people were swapping the US dollar for around 1700 dinars because the dollars were so scarce and people in other counties [trade goods] wanted the dollar…this was causing the huge gap between the official rate and the market rate so cash smuggling or laundering becomes really profitable…so they’re trying to put a crackdown on that. [Post 2 of 2]
