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Starting from January 1, 2024, Iraq plans to prohibit cash withdrawals and transactions in U.S. dollars. This decision is part of an effort to prevent the misuse of its hard currency reserves for financial crimes and to evade U.S. sanctions on Iran. The move intends to combat the illegal use of approximately 50% of the $10 billion that Iraq imports in cash from the New York Federal Reserve annually.
Currency hovers at 285-286 level in inter-bank market
The Pakistani rupee maintained its positive trajectory against the US dollar in the open-market on Tuesday as the...
Local currency has appreciated 7.5% since it hit a record low of 307.1 in inter-bank market on Sept 5
Jaishankar, criticized Canada for violence, threats, and intimidation against Indian diplomats and missions. He called for action to be taken by the Canadian government and warned against normalizing such behavior.