News
Iraqi Dinar Buzz Updates
Racerman: US Military turns in dinars
2011-01-05 16:54:09
The latest news/reports about the US Military being asked to turn in their Dinars seems to conflict with the information received only last year and re-referenced a couple of months ago….
The Future of U.S. Dollars in Iraq:
As U.S. Forces conduct stability operations in support of Operation Iraqi Freedom, the removal of US currency and increased use of Electronic Funds Transfers (EFT) and Iraqi Dinar are top priorities. Therefore, US currency will be reduced to an operational minimum at all finance
Offices in theater:
The U.S. Dollar is being phased out of the Iraqi theater. The increased use of Iraqi Dinar will facilitate a decrease in the dependency of the local economy on the U.S. Dollar, and to encourage Iraqi Financial Institutions to expand and mature into reliable resources for the Iraqi people.
What this means to you:
• Effective 1 June 2009 the Finance Office on Tallil will no longer disburse U.S. Dollars.
• All checks cashed will be loaded on to an EagleCash Card (ECC).
• You WILL NOT be able to withdraw US Dollars from your ECC.
• You WILL be able to withdraw Iraqi Dinar from your ECC at the daily exchange rate (rate changes daily).
