Iraq Revalues Currency Weeks After Replacing Central Bank’s Head
Iraqi dinar banknotes
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Iraq revalued its currency just over two weeks after replacing the central bank governor as part of an effort to stabilize the foreign exchange market.
The cabinet on Tuesday approved a decision to set the exchange rate at 1,300 dinars per US dollar, according to a tweet on Prime Minister Mohammed Shia Al-Sudani’s office account. No further details were provided.