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sandyf

IQD and the Foreign Exchange Markets

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I recently posted some forex trading codes that suggested the USD/IQD was participating in the foreign exchange 'spot' market.
 
This was part of the response from GPCarter
 
"IQD is NOT traded. It is NOT on the spot market. The post made above is obviously from someone who is extremely inexperienced in forex trading and does not have a good understanding of the spot market nor the ability for INDIVIDUALS to gain access to interbank platforms."
 
This is an extract from the IMF Annual Report for 2011 on Page 1205
 
Spot exchange market Yes.
"The CBI deals only with commercial banks. There are more than 300
exchange bureaus that buy and sell foreign currency Banknotes.
Government import transactions are handled by commercial hanks.
Operations of foreign exchange bureaus are limited to the purchase
and sale of Banknotes, and only money transfer companies can
maintain accounts abroad."
 
Unfortunately in the 2012 report the country data came on a CD and is not available online.


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