CBI orders end to dollar series price discrimination

Shafaq News- Baghdad

Iraq’s Central Bank (CBI) on Tuesday ordered lenders and exchange houses to stop discriminating between old and new US dollar notes, warning that no legal basis exists for applying different exchange rates based on year of issuance.

In a directive to licensed banks and non-bank financial institutions, CBI said all US dollar banknotes must be traded under the same standards, provided they meet internationally and locally approved criteria.

The bank stressed that current regulations do not recognize any distinction between different dollar series, confirming that it continues to accept and process all valid US currency through authorized banks.

The move follows persistent market practices in which exchange offices offer lower rates for $100 bills printed in the 1990s compared with newer “post-2000” series, creating a parallel pricing gap in local currency markets.