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Roya Development Group Profile picture
Roya Development Group
@RDGiraq
Building the next generation of vibrant civic leaders; supporting Iraq’s democracy through political analysis & research
Jan 2, 2023 • 8 tweets • 3 min read
With the twin challenges of #inflation and currency #devaluation playing into a vicious symbiotic cycle, #Iraq|is saw the IQD to USD exchange rate increase to nearly 1600 IQD per dollar on the black market this past week. 🧵1/ Though hamstrung by limited options, the Central Bank allowed banks to exchange hard currency at the official 1450 IQD rate, conditional on proof of international travel, increasing liquidity sufficiently to stabilize the rate temporarily - but this isn't a long-term solution. 2/