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Currency exchange will only proceed if the applicant appears in person at the relevant bank and presents their passport or Chinese ID. Currency exchange transactions are centrally registered. The maximum dollar withdrawal is $10,000 per day, the maximum purchase limit of US dollars is $500 per day.
On 2 March 2019, the Central Bank's indicative exchange rate was IQD 1,190 = US$1. [ 13 ] and on 18 June 2021 it was IQD 1,460.5000 = US$1. There is considerable confusion (perhaps intentional on the part of dinar sellers) around the role of the International Monetary Fund in Iraq.