Sandy Ingram

The Central Bank of Iraq confirmed some Iraqi banks are transferring dollars from their accounts to intermediary banks who are distributing the dollars to their customers.  The Central Bank of Iraq said this will contribute to reducing the exchange rate of the parallel dollar…[We’re] thinking this is to keep the black market intact. This means the decision to only use Iraqi dinar in all transactions beginning January 1, 2024 may cause concerns and the Central Bank of Iraq is making moves to control any possible issues.