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Iraq Deplores ‘Currency Attack’ as Dollars Flow to Syria, Iran

Iraq’s central bank said it’s under a “currency attack” as traders buy U.S. dollars in daily auctions and resell them on the black market in Syria and Iran, which face hard currency shortages due to sanctions.

Demand for the greenback at the central bank auctions has risen since November to about $200 million to $300 million a day, compared with about $160 million in the prior 12 months, the deputy central bank governor, Mudher Salih, said in an interview in Baghdad Jan. 10.