Iraq: Cabinet approves currency revaluation amid unstable exchange rate
Yesterday, the Iraqi government approved a currency revaluation to strengthen the dinar against the dollar. The Cabinet set the official exchange rate at 1,300 Iraqi dinar per US dollar. The previous rate was at 1,460 Iraqi dinar to the dollar.
The revaluation plan was submitted by the Central Bank of Iraq on Monday as the Iraqi dinar has lost more than 10 per cent of its value
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