Iraq to use the EURO instead of US dollar
Iraq, Economics, 10/10/2000

The Iraqi central bank has expressed its readiness to buy the European currencies according to its official rates. This measure came after Iraq has announced giving up dealing with the US dollar and to use the EURO instead of it in order to withstand the US position against Iraq.

The Iraqi dailies issued on Monday quoted the Iraqi central bank as saying in a statement that it is ready to buy the European currencies and to pay for them in US dollar according to valid official exchange rate. The statement added that currencies which will be bought are the French Franc, The German Marc, The Austrian Shellen, the Sterling pound, the Dutch Guilder and the Italian Lire.

The Iraqi cabinet last month decided to give up dealing with the dollar in buying and selling operations and to use instead other currencies including the EURO. The Iraqi ministry of commerce informed all companies and establishments Iraq deals with the need to give up using the US $ and to submit their the bids in other currencies especially the EURO and that the Iraqi commerce ministry will not accept any bids from companies and establishments calculated in US dollars.

Previous Stories:
  Baghdad signs transactions with European companies for establishing an electricity station   (9/22/2000)
  Seaside tourism yields 50% of tourism returns in Morocco   (7/14/2000)
  $2 billion in French exports to Iraq   (4/3/2000)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search