CBI has Reduced Selling Amount Size of the U.S Dollars for Travelers

CBI has Reduced Selling Amount Size of the U.S Dollars for TravelersThe Central Bank of Iraq issued a statement that CBI is looking to decrease the amount size of foreign currency especially the U.S dollars for those people that are planning to travel outside the country. A statement issued by the Iraqi Central Bank that the CBI has made a decision to reduce the sales amount of the U.S dollars from 5 thousand U.S dollars to 3 thousand U.S dollars. It was said that the Iraqi banks, funds transferring companies, currency exchange dealers and brokers should follow new decision announced by the Iraqi Central Bank.

The Iraqi Central Bank has decided that all elements that are involved in buying and selling of foreign currencies should not exceed the limit of 3 thousand U.S dollars. Previously this limit was 5 thousand U.S dollars for citizens travelling abroad in order to cover their amount for essential expenses for other countries. All the conversions should be done after the completion of all necessary documents and according to the regulations. This step was taken due to manage demand & supply in Iraqi domestic currency markets. It would allow Iraq to keep circulation maximum foreign currency to meet the requirement of Iraqi currency market.

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