Al-Bayati: Iraq has its options to deal with currencies alternative to the dollar

iraq news

Previous MP Jassem Al-Bayati affirmed on Sunday that Iraq has elective monetary standards that can be settled upon with the US Depository to manage in case of approvals being forced on certain banks.

Al-Bayati told Al-Maalouma, “The visit of the US Depository designation to Baghdad comes in anticipation of the visit of an assignment from Baghdad to Washington, where a few focuses were set by the National Bank with respect to options in contrast to the dollar, like the euro, the UAE riyal, and the Chinese yen.”

He added, “The US Depository’s acknowledgment of the previously mentioned options will be a positive element for Iraq,” taking note of that “there is a feeling of dread toward forcing limitations and cutting off the relationship in managing in the dollar cash for certain Iraqi banks.”

The fact that sanctions will be forced makes that what him expressed “the limitations that the Us Depository might force on certain banks will permit them to bargain in different monetary standards assuming this is settled upon, and it improbable. Assuming this existed, it would be reported expressly, and eventually.”


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