2-2-2014 *American Contractor

[Vixen]

2-2-2014 *American Contractor ~The Iraqi government, Central Bank of Iraq (CBI) and the Parliament Economic Committee have all agreed to limit the dollar auctions to 75 million per day. The government wants to limit the capital flight of hard currency (USD) to their neighboring countries and criminal gangs. The Iraq 2015 Federal Budget paragraph 50 outlined the guidance to limit the currency auctions by the Central Bank. It is not a law, as some would have you believe. The restrictions on the currency possibly for one month, and then they will evaluate the conditions on the ground. I would expect the IQD exchange rate to be very fluid for the month of February 2015. When you limit the sale of USD, the IQD decreases in value because there is more Iraqi dinar in the market.