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A new directive from the Central Bank of Iraq to banks about the dollar and foreign currencies

Rocky

Rocky: Admin Assist; Posts : 271595
Join date : 2012-12-21

Post n°1

A new directive from the Central Bank of Iraq to banks about the dollar and foreign currencies

by Rocky Wed 23 Dec 2020, 8:28 am

A new directive from the Central Bank of Iraq to banks about the dollar and foreign currencies

[ltr]2020.12.23 - 15:47[/ltr]

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Baghdad - People
On Wednesday, the Central Bank of Iraq directed all authorized banks to adjust the value of the foreign currency (the dollar), and any currencies that are evaluated on the basis of their relationship to the dollar in the financial records and banking activities.
Nass (December 23, 2020) obtained a copy of a document issued by the Central Bank, which states:
"Based on the decision of this bank issued under the book of the Department of Financial Operations and Debt Management No. 6/1/2440 dated 20/2020 / 12/20 adopting the new exchange rate starting from 20/2020 / 12/20, it was decided that you should adjust the value of the foreign currency (the dollar) and any Currencies that are evaluated on the basis of their relationship to the dollar in the financial records and banking activities at the beginning of the business day 2020/12/20 to extract the difference between the costs of possession for that year and the current value of it after the change of the exchange rate and in line with the cost of obtaining it (1460) dinars to the dollar or whatever price is obtained Under it, the dollar must be handled and the difference is handled according to the International Financial Disclosure Standards (IFRS).

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