Pak Sahafat – The head of the Central Bank of Iraq has announced that starting next year, the country will conduct all its internal business transactions and other internal transactions with its own currency, the dinar, instead of dollars.
According to the report of Pak Sahafat International News Agency, Ali Al-Alag, the head of the Central Bank of Iraq, announced on Sunday that starting next year, Iraq will conduct all its internal trade and other internal transactions with its own currency, the dinar, instead of the dollar.
According to the report of Middle East News, Al-Alag said: In the coming year, domestic business transactions etc. will be limited to Iraqi dinars instead of dollars, except for travel currency.
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In his meeting with heads of councils and authorized managers of licensed Iraqi banks, Al-Alag said: Most of the businessmen entered the official transfer channels and offered dollars at the price of 1320 dinars, which was the main reason for controlling the general level of prices and reducing the inflation rate.
In this meeting, Al-Alag also announced that the Central Bank of Iraq will refrain from foreign transfers next year, and licensed banks in Iraq will rely on foreign banks for transfer operations.