PM:12:43:27/09/2022
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SULAIMANI— Iraqi Central Bank to issue a new banknote with a
value of 20 thousand Iraqi dinars (IQD), in paper form, the bank said on
Tuesday (September 27).
According to Iraqi News Agency (INA), the bank's Governor,
Mustafa Mukhif , said today that the bank has no plans to change its exchange
rate.
He said the bank is working on the design for the new
banknote, which would be revealed in the coming days.
He added that the Central Bank has worked on the 20 thousand
IQD denomination based on its research on the neighbouring countries.
Regarding the Iraqi dinar exchange rates to the United
States dollar, Mukhif revealed that the bank has no intention of lowering the
exchange rates.
In 2020, Iraq's Central Bank devalued its currency against
the US dollar by almost 20 per cent. The value of $100 increased from 119,000
IQD to 145,000 IQD.
Mukhif added that Iraq is still in its early stages of
benefiting from the increased rate.
He also noted that the bank is working on addressing some of
the side effects of the high Iraqi dinar exchange rates.
(NRT Digital Media)