Economic TimesLean R·
Iraq devalues its currency as Iran-US war disrupts oil shipping routes
Iraq devalued its currency Wednesday, changing the official exchange rate from around 1,300 dinars to the US dollar to 1,500 dinars to the dollar.The country's central bank said in a statement that the new exchange rate had been decided at a meeting of Iraq's Cabinet the night before "to meet the relevant financial, economic and monetary requirements."The previous exchange rate was set in 2023. In practice, there has always been a gap between the official rate and the market rate used by exchan…
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