Forex
Fed Sends Half Billion Dollars to Iraq's Central Bank
The US Federal Reserve has sent a new shipment of $500 million in cash to Iraq's central bank, according to an Iraqi official.
The funds were delivered as part of a transaction aimed at supporting travelers' transactions and external remittances with the approval of the Central Bank of Iraq.
An Iraqi official cited by the state-run Iraqi News Agency (INA) confirmed that the shipment was worth $500 million, which would be allocated for transactions related to travelers and foreign money transfers.