US Federal Reserve sends $500M cash shipment to Iraq: Report

A picture shows the headquarters of the Central Bank of Iraq in Baghdad’s Shorja district on March 9, 2023 [AHMAD AL-RUBAYE/AFP via Getty Images]

The US Federal Reserve has sent a new shipment of $500 million in cash to Iraq’s central bank, according to an Iraqi official cited Thursday by the state-run Iraqi News Agency (INA), Anadolu reports.

“The US Federal Reserve sent a new cash shipment worth $500 million to the Central Bank of Iraq,” the official told INA, indicating that it would be allocated for transactions related to travelers and foreign money transfers.

The official added that the funds would be used for travelers’ transactions and external remittances with the approval of the Central Bank of Iraq.

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