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Iraq suspends banking transactions in Chinese yuan
Member of the parliamentary finance committee, Moeen Al-Kadhimi, revealed that Iraq has chosen to discontinue using the Chinese yuan in financial transactions. Al-Kadhimi told Al-Forat News that the decision was made due to worries about potential manipulation and other difficulties with certain transfers. Iraq has been ordered by the US Federal Reserve to stop trading in Chinese yuan, citing discrepancies and specific issues with transactions, according to Al-Kadhimi. The Iraqi lawmaker clarified that the US Federal Reserve receives $3.5 million generated from Iraq’s daily oil exports, noting that the money is ... (full story)
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- Posted: Jul 24, 2024 10:50pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,924
