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'No need for the dollar'.. The Central Bank talks about the mechanism of dealing in Iraq
[ltr]2023.05.31 - 17:19[/ltr]
[ltr]2023.05.31 - 17:19[/ltr]
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Baghdad - Nas
The Central Bank of Iraq identified, on Wednesday, the party responsible for selling the dollar at the parallel price, while stressing that the dinar is the national currency and there is no need to deal with anything else.
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The Deputy Director General of the Investments Department at the Central Bank of Iraq, Muhammad Yunis, said in a statement to the official agency, followed by “NAS”, (May 31, 2023), that “the goal of the Central Bank’s launch of the three consecutive packages is to maintain the stability of the exchange rate and deal with the official price.” Selling through cash sales platforms.
He added, "The bank is currently adopting a mechanism to improve procedures, facilitate remittance transfers, and overcome all difficulties," pointing out that "small merchants who are not entitled to enter the platform are the ones who buy dollars and deal at the parallel price, pressure and form a demand for it. As for the rest of the commercial companies, they enter the platform and run Its remittances are normal and at the official rate.”
He continued, "The members of the Iraqi Dinar Support Committee are communicating with the security services to implement the instructions of the Council of Ministers and the Central Bank to support the dinar, stabilize the exchange rate, and prevent informal dealings because there is no need to deal in dollars in Iraq."
He emphasized that "those speculating in dollars are violating the law, and dealing with them is done through the Iraqi judiciary."
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