Article quote: “Rafidain Bank announced on Tuesday for the bank to sell the dollar directly through its branches in Baghdad and the provinces, while confirming that the selling price will be as specified by the Central Bank of Iraq.”
This is again a smart move by the central bank.
If an Iraqi can buy the dollar at the bank for 1182 he would be stupid to pay a street rate of more than that.
This should clean up the difference between the street and program rate pretty quickly in the cities of Bara and Bagdad.
It should almost take the middle out of the picture in most populated areas.
This should have been done months ago but either way, it is another smart move by Keywords CBI.
It does make you wonder how an uneducated man with no experience in banking can have come so far so fast. Great advisors no doubt (Shabibi).
