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[size=45][size=41]Al-Saadi: Federal measures stand behind the dollar's instability[/size]
4 hours ago
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4 hours ago
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The specialist in economic affairs, Muhammad Attia Al-Saadi, questioned the ability of the government and the Central Bank of Iraq to restore stability to the dollar exchange rate soon, especially with the difficulty in keeping up with the US Federal Bank's measures imposed on Iraq.
Al-Saadi said in a press interview, which was seen by Taqaddam, that “the procedures followed in trading countries and businessmen to the electronic platform are complex and subject to many routine procedures, as well as oversight and audit by the US Federal Bank.”
He added, "The entities involved in buying and transferring dollars are also subject to strict procedures, which impedes the speed in the transfer of funds."
And he indicated that "there is an urgent need to launch a new package of measures that would overcome these obstacles and work quickly to find a balance between supply and demand for the dollar in the local markets, to limit speculation and manipulation of the dollar exchange rate, which is led by influential mafias that are now controlling the markets.
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