Iraq devalues currency as war and Hormuz closure squeeze cash

The National ·
United Arab Emirates

Iraq has officially devalued its currency again, setting a new official exchange rate of 1,500 Iraqi dinars per US dollar, according to a document seen by The National . The Council of Ministers approved the move late on Tuesday, based on a recommendation from the Central Bank of Iraq, the banking regulator said in a directive sent to all licensed banks, electronic payment companies and exchange…

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