Recent changes by the Iraqi Central Bank of Iraq have dramatically increased the demand for Iraqi Dinar(IQD). This increased demand has put a strain on our international supply chain. The situation has directly affected our ability to process orders for this currency in a timely manner. We apologize for any inconvenience. We would like you to know that we will ship all orders on a first come, first serve basis. Also please know that because of the exchange rate change (and subsequent increase in demand) that our rates are subject to change at any time until you have paid. Once again, this situation involves only the Iraqi Dinar. We want you to know that we are doing everything we can to keep orders flowing and that we appreciate your business and your patience.

Currency News

Iran, South Korea to begin trade in euros

Iran and South Korea are to start trading in euros, legally circumventing U.S. sanctions on dollar transactions with Tehran, a senior official announced Friday.

After months of talks with Washington, at the urging of Iran, Seoul will "with U.S. approval... convert South Korean won to euros without any direct intervention of dollars," Iranian Deputy Foreign Minister Hamid Baedinejad said on his Instagram page.

If other countries with "local and limited currencies" also traded in euros, it would "lead to easier commerce between Iranian traders and businesses and those countries," he added.

A landmark deal between Tehran and world powers, signed in July last year and which came into force in January, saw many international sanctions on Iran lifted in exchange for curbs to its nuclear program.

But non-nuclear-related sanctions have remained in place, preventing Iranian banks and businesses from carrying out global financial transactions in dollars.

Trade between Iran and South Korea in euros will begin on Aug. 29, Baedinejad quoted South Korean Finance Minister Yoo Il-Ho as saying.

original source:

Back to Top