Iranian Currency Affecting the Iraqi Currency Market

In the cities of southern Iraq and Baghdad, after the U.S dollar and Iraqi dinar, the Iranian currency Altoman is at third rank in the Iraqi currency exchange market to reject the Jordanian dinar. There were several economic and political reasons to close the U.S currency in the Iraqi market, and to advance the Iranian Altoman currency who suffocated commercial transactions in most of the southern Iraqi cities, especially a free land route with Jordan. So, the trade between these two countries must be stopped and to trade directly with Iran should be encouraged in Vegetables and foods, which is a daily basis trade. It was also participated for the Iranian currency recovery. Iraq is focusing to issue visas to Iranians for religious, trade or tourism purpose to encourage them to come and freely trade in Iraq.

According to the Baghdad Stock Exchange expert, Riad in a statement that the current situation shows the Iranian political power in Iraq clearly reflected its impact on the currency in the country. The U.S dollar is still at its strongest position in the trade market and experts predicted that Iranian Altoman will not rise too high, although it is at the third position in the currency arrangement in the country. The owner of travel and religious tourism from the special permit office, Hussein Ali said that due to entrance visa fees removal, Iraq is focusing a large amount of Iranian community to travel Iraq and religious shrines is a powerful source to attract the Iranian people to come Iraq.

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