TBI urges exchange companies to join cash dollar sales window for travelers

Shafaq News/ On Wednesday, the Trade Bank of Iraq (TBI) urged all licensed exchange companies to join the cash dollar sales window for travelers.

In a statement, the TBI called on “all exchange companies in categories (A and B) licensed by the Central Bank of Iraq (CBI) to open special accounts at its branches to access the window.”

On July 4, 2024, the CBI decided to sell dollars to travelers exclusively through corporate and bank outlets at international airports. Meanwhile, the Central Bank has authorized exchange companies in categories (A and B) to use the FITR platform for internal and external transfers.

Notably, analysts have highlighted that excessive dependence on fixed exchange rates linked to oil revenues has caused the currency window to be seen as a tool for oil rents, limiting economic change in Iraq. Despite its limitations, the currency sale window, according to observers, has helped stabilize the Iraqi dinar and narrow the gap between official and parallel markets.