Iraq to regulate foreign trade from China in Yuan - state media

Citizens buy and exchange foreign currency at exchange office after exchange rate falls after the Country’s Central Bank President changed in Iraq [Murtadha Al-Sudani – Anadolu Agency]

Iraq’s Central Bank announced, on Wednesday, it plans to regulate foreign trade from China directly in Yuan as part of a bundle of measures to facilitate access to foreign currency, state media reported.

The reports did not give more details about plan, Reuters reports.

The Central Bank has been taking urgent measures to compensate for a dollar shortage in local markets. The cabinet had approved a currency revaluation earlier this month, and set the exchange rate at 1,300 dinars per US dollar, the state news agency reported.

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