IMF Explains Iraq's Exchange Rate Arrangement
- Author
- Tish Washington
- Published
- Thu 17 Jul 2025
- Episode Link
- https://podcasters.spotify.com/pod/show/tish-washington8/episodes/IMF-Explains-Iraqs-Exchange-Rate-Arrangement-e35ll8m
IMF Explains Iraq's Exchange Rate Arrangement
"Effective February 8, 2023, the official exchange rate was set at ID 1,320 according to the closing prices of the daily bulletin of gold & main currencies published on the CBI website (www.cbi.iq).
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"There has been a change to Iraq's exchange system since the last Article IV Consultation. Iraq continues to avail itself of the transitional arrangements under Article XIV, Section 2 but no longer maintains any restrictions under this provision. Iraq does not maintain any current account exchange restrictions or MCPs [Managed Currency Pegs]. Starting January 2025, all international transactions have been routed through commercial banks via their correspondent banking relationships (CBRs).
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