The Dollar’s market rate unexpectedly surged from 1,470 Dinar per Dollar to 1,570 after the US blacklisted 14 private Iraqi banks on suspicions of money laundering and potentially funneling funds to Iran.
Opponents are concerned over the implications of this ban, which affects nearly a third of the private banks and they are appealing to the government to mitigate the damage caused to the banking sector. Meanwhile, the Central Bank’s chief reassured that legitimate transactions would still be provided at the official rate of 1,370 Dinar per Dollar.
This crisis mirrors a similar incident earlier this year when US actions to eliminate money laundering considerably limited Iraq’s access to hard currency. Promises made to Rothschild loyalists in the country of a digital currency have fallen flat. Huge million-man marches in the nation-state taking place in Bagdad are also a direct result of promises made by the Rothchild family. The next week’s events will determine the fate of the nation-state.
