The fake dinar against the dollar: Iran provides its needs through the Iraqi market

The fake dinar against the dollar: Iran provides its needs through the Iraqi market


The fake dinar against the dollar - Iran provides its needs through the Iraqi marketBaghdad – Iraqi officials have revealed that Iran is pursuing a new strategy to supply its US dollar needs by working to reduce the Iraqi dinar exchange rate.

Iran faces major difficulties in obtaining the dollar, after US sanctions have been imposed on it, and has been barred from using the currency in its international dealings.

The Iranian strategy is to inject a large, counterfeit Iraqi currency into Iraqi markets and push for increased demand for the US dollar by local traders.

If Iraq can not cope with the smuggling of fake Iraqi dinars into its territory, this strategy will force the CBI to pump double amounts of dollars into the country’s markets to preserve the value of the local currency, allowing a greater dollar liquidity, To Iran, to satisfy its needs of the US currency.

According to the sources of the “Arabs” in Baghdad, “the economic interfaces, the pro-Iranian Iraqi militias, is implementing this strategy, through the use of Iran at the border crossing between Iran and Iraq, to ‚Äč‚Äčintroduce the counterfeit Iraqi currency to the country.”

According to government sources, “the commander-in-chief of the Iraqi armed forces, Prime Minister Haider Abadi, directed the relevant military and security forces, to address the smuggling operations of Iran.”

The sources confirm that “Abbadi depends on a limited number of reliable Iraqi officers, in the implementation of this process, given the broad influence that Iran has in many sectors of the military establishment.”

Iraqi border posts with Iran have tightened checks on trucks coming from the eastern neighbor.

And led the Iraqi actions intensified, to control about one billion Iraqi dinars of counterfeit currency, coming from Iran.

In all cases smugglers were linked to companies linked to pro-Iranian Iraqi militias.

Iraqi officials say Baghdad has already beefed up its measures to prevent the smuggling of dollars from Iraq into Iran, in response to US sanctions, but now focuses on preventing the smuggling of counterfeit currency from Iran to Iraq.

“The start of the implementation of a special intelligence security plan to pursue attempts to introduce counterfeit currency to the local market in the provinces of Maysan, Dhi Qar, Muthanna and Wasit,” in southern and central Iraq, said Major General Ali Daaboul, head of operations of Rafidain, part of the Iraqi Ministry of Defense.

“The security teams and the intelligence cells continue to follow up on any suspected cases in order to deal with them in security,” Daboul said.

The Anatolia news agency quoted an Iraqi Interior Ministry officer as saying that “the border crossings have received orders for the need for strict inspection to thwart any attempt to introduce a counterfeit currency from the neighboring countries.”

He added that “security forces seized during the past few days fake Iraqi currency at the port of Shalamjah border with Iran, and was seized and arrested involved in bringing the amounts of money,” without specifying the value.

Iraq has four land ports with Iran: Zurbatiya in Wasit, Shalamjah in Basra, Manziriyah in Diyala and Shib in Maysan.

Observers say tougher Iraqi actions on the border with Iran will not deter Tehran from pursuing this strategy, which could be one of the few ways to get Tehran’s need for the US dollar.

“This war is related to the controversy surrounding the future of Iraqi Prime Minister Haider al-Abadi and his ambition in a second term, which is a strong Iranian objection,” they add.
Abadi will try to “convince the United States of his right to this position by addressing Iran’s attempts to circumvent US sanctions.”

It was expected that Iran would flood the Iraqi market with counterfeit currency as part of its plan to face the shortage of foreign currency in the domestic market in order not to see the Iranian riyal further losses in the exchange rate.

Iran has prepared its arms at home to implement the plan early, before US sanctions take its direct implementation.

Observers say no one can fail the plan because of Iran’s breakthroughs over the years of its dominance in the fragile state of Iraq, noting that Iraqi political leaders have mobilized to stand with Iran in their potential conflict with the United States.

The Iraqi observer pointed out that what can be achieved by these leaders does not amount to the level of Iranian need for hard currency without the disruption of the exchange rate of the Iraqi dinar, which could lead to the Iraqi economy to witness further collapse, which may lead to widening the circle of protests In the country, which will be directed this time against Iranian hegemony directly.

The observer said in a statement to the “Arabs” that the plan of the Iraqi Prime Minister to deal with the smuggling operations from both sides to positive results because of the difficulty of controlling the border between the two sides under the Iranian breakthroughs of the Iraqi security services and the control of pro-Iranian militias on border cities in addition to the arrival of leaders of those militias To political decision-making centers.

He stressed that it is difficult to predict the size of the losses that will be the Iraqi economy because of US sanctions on Iran, pointing out that what is important for the Iraqi government not to end its work in a way that appears as if it was the cause of a new chaos, the collapse of the Iraqi dinar caused directly.

He questioned the usefulness of these government measures, saying that no matter how accurate they will not be able to stop the smuggling of currency between the two sides.