Trade Bank of Iraq injects dollars into the market
The state-owned lender began supplying foreign currency through formal banking channels after the new exchange rate took effect.
The Trade Bank of Iraq said it started injecting foreign currency into the local market through official banking channels to meet trade and economic demand. The initiative is intended to ease dollar shortages and curb sharp exchange-rate movements.
The intervention coincided with implementation of Iraq’s revised official exchange-rate regime. Its effectiveness will depend on banks’ ability to channel dollars to importers and other legitimate commercial users.
Original reporting: Shafaq News ↗