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[size=45][size=41]Al-Sudani’s advisor comments on the continued decline in the “parallel” price of the dollar[/size]
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On Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, commented on the continued decline in the exchange rate of the dollar in the parallel market.
Salih said, in a press interview seen by “TAQADAM”, that “the decline in the exchange rate of the dollar in the parallel market and its start to creep towards the official exchange rate is mainly due to the success of the monetary policy of the Central Bank of Iraq in particular and the role of supportive government policies in general for positive and effective engagement in meet the demand for foreign currency.
And he indicated that “facilitating and improving the procedures for necessary external transfers, and selling cash dollars through international compliance channels, to which the private commercial community and the general beneficiaries of foreign exchange in our country have adapted rapidly, after today’s international compliance procedures have become more flexible, more transparent, and broader governance.”
He added, “At the same time, it is supported by large foreign currency reserves, which are the highest in the country’s financial history. All of these factors are gradually shrinking the gap between the two prices,” noting that “foreign currency window sales today have reached their high levels in imposing stability and sterilizing liquidity.”
The exchange rate of the dollar recently witnessed a clear decline, to reach today less than 1480 dinars per dollar, after it was in the past month exceeding 1500 dinars.
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