Iraq has claimed that it is under a currency attack
The central Bank of Iraq has claimed that the economy of Iraq is under currency attack. According to
the central bank of Iraq, the currency traders from all around the globe mostly purchase Us dollars in
the daily public sales and the sell the Us dollars on the black market in Iran and Syria. And due to this
the Iraq is facing a very high currency shortage and the restrictions on Iraq have added more financial
pressure for the Iraqi government.
It is to be remembered that the demand of the US dollar at the central bank auction has increased to
almost 200 to 300 million dollars, over the regular basis and this fact has created a lot of economic
and financial pressure for the central bank of Iraq. The governor of the central bank of Iraq, Mudher
Salih, expressed his concerns regarding the matter, while talking to the media in Baghdad. He said
that things are very confusing and now they are checking all the applications to purchase US dollars,
very carefully. He further added that he is very concerned and he is afraid that the matter might be
related to money laundering. The Iraq is under a currency attack due to the current regional
situation; added, Salih.
On the other hand, the Iranian investors are facing troubles in accessing the foreign currencies due to
the economic and business sanctions on Iran. On the other hand the Undersectary of the US
treasury, David Cohen has also said that the Iranian currency has faced a little decline this month due
to the financial and business sanctions on Iran by the US and its allies. David Cohen also told that US
is opting to put more pressure on Iran by applying some more sanctions on Iran. Moreover the allies
of the United States has said that Iran is producing nuclear weapons and the government of Iran is
denying the fact and that’s why Iran should be pressured by such trade and economic sanctions.
The case of Syria is not different from Iran. Syria is the regional alley of Iran and the US and some
other countries have also put sanctions on Syria as well. These sanctions have really affected the
economic condition of Iran and Syria.