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Shafaq News/ The US Ambassador to Iraq, Alina Romanowski, confirmed that the United States does not set the exchange rate of the dollar and has not imposed sanctions on new Iraqi banks.
Romanowski said, in a televised interview with "Al-Taghyeer Channel", that the United States does not set or determine the exchange rate between the dollar and the dinar, and that it has not imposed new sanctions on banks in Iraq, but rather "continues a mechanism that took several years to strengthen the Iraqi banking sector to help it comply with the banking system." And to ensure that the banking system is not used to launder the money of the Iraqi people and smuggle it out of Iraq.
Romanowski indicated that "these procedures began two years ago with gradual implementation by Iraqi banks, according to an agreement between the US Federal Bank and the Central Bank of Iraq," adding that they are "designed to prevent and restrict money laundering, and suspending or postponing them leads to a rollback in the system."
And the ambassador stressed that "what can be done is to continue the dialogue with the Central Bank and monitor the effects that occur on the ordinary citizen who uses informal secondary financial institutions, to consider the possibility of addressing these effects."
And she stressed that her country "is trying with the Iraqi side to prevent money laundering belonging to the Iraqi people and prevent its smuggling," explaining, "We focused on the file of corruption in Iraq, and what happened was a coincidence with the assumption of power by the Sudanese."
And the Iraqi currency lost about 10 percent of its value, says the Wall Street Journal in a report it published a few days ago, after procedures related to imposing compliance rules on the Central Bank of Iraq's dealings with currency dealers with regard to the US dollar.
Under the new procedures, Iraqi banks are required to submit dollar transfers on a new online platform with the Central Bank of Iraq, which are then reviewed by the Federal Reserve Bank.
US officials said the system aims to limit the use of the Iraqi banking system to smuggle dollars to Tehran, Damascus and money laundering havens across the Middle East.
Yesterday, Monday, Prime Minister Muhammad Shia’ al-Sudani decided to relieve the governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, from his post, while assigning Ali Mohsen Al-Alaq to manage the bank by proxy.
Al-Sudani had taken, the day before yesterday, Sunday, urgent decisions to "address" the exchange rate of the US dollar against the local currency during his meeting with the Federation of Iraqi Chambers of Commerce to discuss treatments for the fluctuation of the exchange rate of the foreign currency.
These decisions come at a time when the exchange rate of the US dollar against the Iraqi dinar has witnessed a gradual rise since November 2022, reaching its highest levels in recent days, as it crossed the barrier of 165 thousand dinars per 100 dollars.
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