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| Protesters, banks demand action after Iraqi dinar plunges post-US sanctions |
| Baghdad, 31.07.2023 |
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| Dozens of people protested outside the Central Bank of Iraq in Baghdad while bank owners urged action as the Iraqi dinar fell after the United States blacklisted 14 Iraqi banks.
The demonstrations took place on Wednesday as the 14 banks issued a joint statement calling on the Iraqi government to intervene.
The private banks are banned from dealing with US dollars for reportedly siphoning funds to Iran as well as on suspicion of money laundering.
The latest US sanctions are in addition to previous ones on eight banks, leaving almost a third of Iraq’s 72 banks blacklisted, two Iraqi central bank officials said.
The ban has pushed the market rate of the dollar from 1,470 dinars per dollar to 1,570 dinars per dollar in the last two days.
The protests outside the central banks were organised by the Thuwar Tishreen (October Revolutionaries), a group that started mass protests in 2021, calling on the government to take action to halt inflation.
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