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[size=38]Wall Street: The decline of the Iraqi dinar is caused by an American policy to curb the illegal seizure of the dollar by Iraqi banks[/size]
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January 20, 2023[You must be registered and logged in to see this link.]
Baghdad / Obelisk: The Wall Street Journal reported, quoting US officials, that the depreciation of the Iraqi dinar is a result of the policy adopted by the US Treasury and the Federal Reserve in New York to curb money laundering and the illegal appropriation of dollars by Iraqi commercial banks for the benefit of countries subject to sanctions. In the Middle East, including Iran, according to the expression of the report.
US and Iraqi officials said it was time to bring the Iraqi banking system into compliance with international money transfer practices.
The value of the Iraqi currency fell to 10 percent against the dollar, which led to a sharp rise in the prices of imported goods.
US officials confirm that the strict rules for electronic dollar transfers by Iraqi private banks were not a surprise to officials in Baghdad, but are implemented jointly after two years of discussions and planning between the Central Bank of Iraq, the US Treasury and the Federal Reserve Board. They added that the rise in the dollar exchange rate was not due to the new measures.
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