Iraq sets official dollar rates between 1,500 and 1,520 dinars
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The Central Bank of Iraq set three official dollar rates effective Wednesday, according to its October 7 announcement.
The rates are not identical.
The bank will buy dollars from the Ministry of Finance at 1,500 dinars per dollar. It will sell dollars to banks at 1,510 dinars and cash dollars to the public at 1,520 dinars.
The central bank said its foreign reserves can meet external-transfer requests for trade finance, bank-card settlements and cash sales to travelers without restrictions. It gave no reserve total.
The bank said the change is intended to support domestic production, improve competition against imports and encourage non-oil investment and employment. Those are its stated aims, not measured results.

