3 days ago
[You must be registered and logged in to see this image.]
An economist considered the rise in the exchange rate of the dollar against the Iraqi dinar in the local markets as “fabricated.”
“The rise in the exchange rate of the dollar is nothing but a fabricated process and the failure of the Central Bank of Iraq to maintain a certain level of the exchange rate,” Duraid Al-Enezi said in a press interview seen by “Takadum.”
He added, "We wonder about the central bank's role in this matter, after it proved its inability to manage any kind of monetary operation in the country."
And he pointed out that “the decrease in the Central Bank’s sales of foreign currency as a result of financial vibrations that [the bank] did not reveal the slightest position on, as the banks’ suspension did not issue any position, meeting, or reprimand to the bank as if it was not responsible for monetary policy.”
Al-Enezi pointed out that "there is a solution to control the exchange rate by pumping the currency into government bank branches, and citizens can buy directly."
The Central Bank of Iraq revealed, on the 24th of this month, the reasons for the decrease in the volume of sales of the foreign currency sale window in recent times.
An authorized source in the bank said, “The Central Bank of Iraq is working to automate banking business according to the best banking standards, including the establishment of an electronic platform that organizes the external transfer process through the foreign currency sale window, similar to the electronic platform that organized the work of letters of guarantee.”
He added, "Due to the insufficient readiness of the local banks with the start of the trial application of the platform, the implementation of part of the foreign transfers was postponed, which resulted in a decrease in the volume of sales of the foreign currency sale window."
It is noteworthy that the Central Bank sells through the dollar currency auction for the amounts transferred to bank accounts abroad at 1460 dinars per dollar, which is the same price for cash
[You must be registered and logged in to see this link.]