Iraq bans selling USD to its citizens traveling to Iran

By  Trend

In a move to remove the US dollar from bilateral exchanges between Iran and Iraq, the Central Bank of Iraq banned the sale of the dollar to Iraqis, who travel to Iran, Tasnim News Agency reported.

The Central Bank of Iraq on November 28 sent out a memo to all Iraqi banks and said that all operating banks are obliged to refuse to sell US dollars to travelers intending to travel to the Islamic Republic of Iran.

According to the statement, the Iraqi banks are allowed to sell all other currencies, except for the US dollar.

Iraq and Iran have previously said that the countries would use euro and Iraqi dinar for bilateral trade to avoid secondary sanctions from the US hitting Baghdad.

The document referred to an announcement of the president of the Iranian Chamber of Commerce on the cancellation of the use of the US dollar in trade with Iraq.