The CBI Announces a Package of Procedures to Improve Transactions Related to Dollar Performance

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On Monday, the CBI announced a package of decisions that would return the foreign currency market to its normal position as follows:

1- Allowing the banks participating in the foreign currency purchase and sell window to buy any amounts in foreign currency and deposit them in this bank in accounts used for external transfer purposes and to pay interest / returns on those balances according to what this bank decides.

2- Facilitating private sector trade financing through Iraqi banks and meeting the demand for foreign transfers by strengthening the balances of banks with their correspondents in other currencies in addition to the US dollar (Chinese yuan, the euro, the Emirati dirham, the Jordanian dinar, and others).

3- Opening outlets for selling foreign currency in governmental banks to the public for travel purposes (treatment, Hajj, Omrah, study, etc.)

4- Reducing the Dollar selling price to the beneficiary (the card holder) that used while traveling or paying purchases via the Internet, to be (1465) dinars to the dollar instead of (1470) dinars to the dollar. The dollar will be sold to electronic payment companies for the above purpose at a price of (1455) dinars to the dollar instead of (1460) dinars to the dollar.

 

Central Bank of Iraq

     Media Office

     19.Dec.2022