Sandy Ingram
...On June 26th, reports emerged of a large-scale dollar smuggling operation involving billions of dollars allegedly let by Iranian networks.
This illicit flow of US currency is affecting the official IQD/USD exchange rate and potentially putting pressure on the Central Bank of Iraq.
In June the World bank approved a $930 million loan for the Iraq railways extension and modernization project connecting Umm Qasr in the South and Mosul in the north.
This investment will boost domestic trade, create jobs and reduce reliance on oil exports which is necessary for a revalue of the IQD.