Iraqis Fly to Nearby Countries to Get Dollars as U.S. Cracks Down on Money Laundering

The cash-driven economy relies heavily on the greenback for transactions

Men exchange U.S. dollars at a market in central Baghdad. Photo: Hadi Mizban/Associated Press

BAGHDAD—As the U.S. tries to stop the illegal flow of dollars into Iran, local money traders next door in Iraq are finding new ways to get hold of greenbacks as the local supply dries up: They are flying to nearby countries with stacks of bank cards to withdraw hard cash.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Continue reading your article with
a WSJ subscription

Subscribe Now

Already a subscriber? Sign In

Sponsored Offers
  • TurboTax:
    Save up to $15 with TurboTax coupon May 2023
  • The Motley Fool:
    Epic Bundle - 3x Expert Stock Recommendations
  • H&R Block Tax:
    15% Off DIY Online Tax Filing Services | H&R Block Coupon Code
  • Top Resume:
    10% TopResume discount code for expert resume-writing services
  • eBay:
    30% off eBay coupon
  • Groupon:
    Exclusive: 30% OFF Groupon Promo Code