Exchange offices in former ISIS territories resume USD operations

BAGHDAD, August 3 – The Central Bank of Iraq (CBI) announced on Thursday that a number of currency exchange companies had resumed dealings with US dollars in four governorates following suspensions due to security concerns during the war against ISIS.

The Central Bank issued a statement which said:

The Central Bank of Iraq declared the reinstatement of a significant number of currency exchange companies that were previously deprived of dealing in the dollar in the governorates of Nineveh, Anbar, Kirkuk, and Salah al-Din. The suspension was a result of the circumstances and security events that occurred after the ISIS incidents in those areas.

The Bank confirmed that security and auditing agencies had cooperated to determine a clean bill of health for the companies. The decision is expected to improve access to US dollars in the affected governorates and contribute to stabilizing the dinar to dollar exchange rate.