Iraqis banned from dealing in US dollars

The surprise announcement on Sunday reflects an attempt to close the gap between the official exchange rate and that on the black market, which has fueled high prices and caused anger, The National reported. 

“The dinar is the national currency in Iraq,” the ministry said. “Your commitment to transact in it instead of foreign currencies boosts the country’s sovereignty and economy.”

It said dealing in other currencies “is a violation that is punishable by law” and threatened to “hold accountable anyone who attempts to undermine the Iraqi dinar and the economy”.

The Interior Ministry’s Anti-organized Crime Directorate has sent its forces to markets across Baghdad and other cities, asking traders to sign a pledge to sell goods only in dinar, report further added.


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