Shafaq News/ Economic sources in the Kurdistan Region, on Saturday, said a decline of 90% of the volume of trade exchange and the market has taken place between the Region of Kurdistan and Iran over the last international sanctions on the Islamic Republic.

The head of the Sulaymaniyah Chamber of Commerce Sirwan Mohammed said "the depreciation of Iranian currency against currencies of Iraq and the U.S. dollar has caused a major crisis in the Kurdistan market," explaining that "the price of Iran Toman fell in the beginning of this crisis by 2200 Toman against the U.S. dollar one and settled currently at the threshold of 1800 Toman for one dollar. "

The head of the Federation of Exporters and Importers of Kurdistan, Mustafa Abdul Rahman said in a statement to "Twilight News" last week that the low value Iranian  Toman against the U.S. dollar hit the market, the Kurdish major setback, noting that the biggest losers are the traders who have business dealings and financial transactions with Iranian traders because they were dealing with these traders instruments. "

He noted that traders who have had financial dealings with Iranian banks in Dubai, especially bank (Tejarat) and (Milily), were also of the losses itself due to the freezing their assets according to the sanctions imposed on Iran. These banks could not also fulfill values of the Banks instruments for the benefit of Kurds traders.