Iraq lowers dinar exchange rate amid reforms
The Iraqi government has decided to devalue the Iraqi dinar against the dollar from 1,300 to 1,520 dinars, with the goal of achieving economic and financial stability amid extraordinary circumstances that have impacted the state's revenue and financing needs. The Central Bank explained that this adjustment is part of economic reforms aimed at supporting the private sector, enhancing economic balance, and encouraging local production, while maintaining adequate foreign exchange reserves and the capacity to meet the demand for foreign currency to finance external trade.
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