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Central Bank of Iraq confirms no frozen dollar in markets

frozen dollar

Baghdad, (Business News Report)|| The Central Bank of Iraq issued a statement, in which it reiterated its assertion that there is no frozen dollar bills in the markets, warning citizens against dealing with fraudsters.

The Central Bank said in a statement, “We will take harsh legal measures for anyone who trades or promotes such counterfeit papers.”

Recently, the “frozen Libyan dollar” was spread in Baghdad by counterfeiting currency gangs in scams and frauds against citizens.

A statement by the Central Bank stated that what is being circulated on social media about the existence of the frozen dollar is no more than fraud.

The statement added, “The Central Bank reserves the right to take legal measures against anyone who trades or promotes such counterfeit papers, and in coordination with the competent authorities.”

“Measures taken by the Central Bank in this regard aim to ensure the safety of the financial and banking sector in Iraq, and to protect the rights of citizens from fraud and fraud.”

Iraqi media quoted Judge Suhaib Adeeb Marjan, judge of the Karkh Investigation Court, as saying that “the information received by our court indicates that there are people selling counterfeit US dollars,” noting that “the data circulating about it is a Libyan dollar currency.”

The average exchange rate of the dollar rose, against the Iraqi dinar, in exchange companies in the capital, Baghdad, and the rest of the provinces.

The average price of the dollar against the Iraqi dinar, in exchange companies in the capital, Baghdad, was about 1,470 dinars for purchase, and 1,480 dinars for sale.

Iraq relies on crude oil sales for 90% of national income, amid the almost complete absence of national and local industries, and the failure of many investment projects that, if completed, would contribute to alleviating pressure on its rentier economy.

For years, Iraq has recorded a rise in poverty and unemployment rates, a lack of basic services, and a decline in the levels of education, health, and the supply of electric power.

The record oil revenues achieved by Iraq did not prevent the deepening of the crises of citizens who suffer from poor living conditions.

Iraqis are looking forward to improving their financial income in light of a significant increase in oil revenues, which the country has not seen for nearly half a century.


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