Shafaq News/ On Wednesday, the TradeBank of Iraq (TBI) urged all licensed exchange companies to join the cashdollar sales window for travelers.
In a statement, the TBI called on“all exchange companies in categories (A and B) licensed by the Central Bank ofIraq (CBI) to open special accounts at its branches to access the window.”
On July 4, 2024, the CBI decided tosell dollars to travelers exclusively through corporate and bank outlets atinternational airports. Meanwhile, the Central Bank has authorized exchangecompanies in categories (A and B) to use the FITR platform for internal andexternal transfers.
Notably, analysts have highlightedthat excessive dependence on fixed exchange rates linked to oil revenues hascaused the currency window to be seen as a tool for oil rents, limitingeconomic change in Iraq. Despite its limitations, the currency sale window,according to observers, has helped stabilize the Iraqi dinar and narrow the gapbetween official and parallel markets.