Iraq revalues currency to 1300 IQD per USD

A person counts Iraqi dinars on a cash counting machine at a forex trade store in Baghdad, Iraq, January 23, 2023. REUTERS/Ahmed Saad

CAIRO, Feb 7 (Reuters) – Iraq’s cupboard accepted a forex revaluation on Tuesday and set the trade fee at 1,300 dinars per U.S. greenback, a cupboard assertion stated on Tuesday.

The Iraqi dinar had been promoting at 1,470 dinars towards the greenback earlier than the New York Federal Reserve launched tighter controls on worldwide greenback transactions by industrial Iraqi banks in November.
The transfer by the Federal Reserve was designed to cease the unlawful siphoning of {dollars} to Iran.

In current weeks the dinar was promoting at round 1,690 dinar per greenback.

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