Foreign Exchange Market: Today is the first trading day of the Foreign Exchange Market (FOREX) for year 2016 and no change has occurred “yet” in the exchange rate of the Iraqi dinar (IQD) nor is there a change in Iraq’s Monetary System or its reform measures so far.
So let’s update a few other items that effect this as well:
Tariffs: no signs officially that they have started collecting tariffs at any of their custom port of entries on Friday nor have they today.
So that tells me that last weeks news was to the following taking place:
Gazette Updates: The 2016 Budget will not be implemented until the new approved budget law is posted into the official Law Gazette, so neither the additional taxation or tariff taxes in Article 24 of the 2016 Budget can be implemented until it is.