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The Central Bank of Iraq (CBI; Arabic: البنك المركزي العراقي) is a monetary authority established in 1947, shortly after the end of the British occupation of Iraq. The CBI's primary objectives are to ensure domestic price stability and foster a stable competitive market based financial system.
The U.S. measures have centred on Iraq's so-called dollar auction, where the central bank requests dollars from the U.S. Federal Reserve before selling them to commercial banks, which in turn sell ...
Iraq: Iraqi dinar: Central Bank of Iraq Israel: Israeli new shekel: Bank of Israel Japan: Japanese yen: Bank of Japan: float Jordan: Jordanian dinar: Central Bank of Jordan: 1 USD = 0.708 JOD (buy) 1 USD = 0.710 JOD (sell) Kazakhstan: Kazakhstani tenge: National Bank of Kazakhstan Kiribati: Kiribati dollar: Reserve Bank of Australia: AUD at par ...
Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit ...
The Global price level, as reported by the World Bank, is a way to compare the cost of living between different countries. It's measured using Purchasing Power Parities (PPPs), which help us understand how much money is needed to buy the same things in different places. Price level indexes (PLIs), with the world average set at 100, are ...
WASHINGTON/BAGHDAD (Reuters) -The United States has barred 14 Iraqi banks from conducting dollar transactions, the Wall Street Journal reported on Wednesday, citing U.S. officials. The ban, which ...
Those banks and two main state banks were badly damaged by the international embargo of the 1990s. To further privatize and expand the system, in 2003 the Coalition Provisional Authority removed restrictions on international bank transactions and freed the Central Bank of Iraq (CBI) from government control. In its first year of independent ...
After researching further, the Coalition decided to adopt an official rate between the market rate and the PPP rate, officially pegging the currency at 150 Saddam dinars per Swiss dinar. There were two proposed methods to unify the currencies. The first would be to print a new set of Swiss dinar notes and distribute them among the south.