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[size=46]The Central Bank of Iraq identifies the reasons for the gradual decline in the dollar exchange rate[/size]
Economy
10:36 - 2023-03-31
[You must be registered and logged in to see this image.]10:36 - 2023-03-31
The Central Bank of Iraq identified the reasons for the gradual decline in the dollar exchange rate recently, while noting that the difference between the official and parallel exchange rates will gradually disappear.
The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said, "The central bank has taken several measures to reduce the price of the dollar, especially through the three packages that it launched at the beginning of this year, which were sufficient to address the high exchange rate in the parallel market."
He added, "The bank met with the Federation of Iraqi Chambers of Commerce and a number of merchants to discuss the challenges and put in place mechanisms to address them," suggesting that new packages would be issued to address all the challenges facing merchants to facilitate their access to foreign currencies.
He explained behind the gradual decline in the price of the dollar in the past two days to the increase in the volume of sales of the central bank, "noting that" the bank liberated restrictions on sales, and the bank can sell any amount of dollars as long as there is a real demand for the dollar, "explaining, that" the difference between my price The official and parallel exchange will gradually disappear.”
He pointed out, “Iraq does not need to establish new banks at the present time or in the future, but rather activate the existing banks,” pointing to “the presence of more than 70 governmental and private banks,” noting that “the Central Bank is serious about sorting Good banks from not so good.
He pointed out that there was a great response by banks to the instructions of the Central Bank regarding the official exchange rate, "calling at the same time to facilitate the procedures for merchants' transactions quickly."
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