Iraq: Currency Devalued to 1,520 Dinars per Dollar
Qiyas summary
The Iraqi Cabinet approves an exchange rate adjustment based on a proposal from the Ministry of Finance and the Central Bank.
Translated by Qiyas from النهار — Original source
The Iraqi government has decided to devalue the Iraqi dinar from 1,320 dinars per US dollar to 1,520 dinars per dollar. The General Secretariat of the Iraqi Council of Ministers stated in a press release that, based on an emergency presentation by the Iraqi Ministry of Finance and the Central Bank of Iraq to the Council of Ministers, the exchange rate was adjusted so that the Ministry of Finance’s purchase rate is 1,500 dinars, banks are sold the dollar at 1,510 dinars, and the final beneficiary pays 1,520 dinars.
