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Al-Sudani's advisor identifies the reasons for the decline in the parallel price of the dollar in the Iraqi market
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2023-04-01 05:02
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Shafaq News/ Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, Muhammad Shia'a al-Sudani, commented today, Saturday, on the decline in the exchange rate of the dollar in Iraq.
Saleh told Shafaq News agency, "Foreign trade financing operations in foreign exchange for the private commercial sector are currently in a stage of recovery and escalating adaptation to the new international compliance requirements that have been implemented since last November. Window sales are after the three packages launched by the Central Bank and procedures The government regulators that simplified foreign trade operations for the private sector are all undergoing an accelerated state of adaptation towards accelerating external transfer and financing trade at the official exchange rate.
He added, "The Central Bank's window sales began to touch their previous normal rates of sale, to reach approximately $200 million per working day in the foreign currency auction, which is a very stable level of sales to meet the market demand for foreign exchange, and is supported at the same time by high reserves of foreign currency that It is in the possession of the monetary authority, which enables it to effectively intervene in the stability of the market in an easy and effective manner.
And the financial and economic advisor to the Prime Minister stated that "in light of the foregoing, the price differences between the official exchange rate of the dinar against the dollar and the price equivalent to it did not widen, but there are strong signals towards contraction and a clear gradual decline towards the convergence of the two prices, especially the decline of the dollar in the parallel price on a daily and tangible basis." .
On Tuesday, March 21, the Governor of the Central Bank of Iraq, Ali Al-Alaq, expected a decrease in the parallel dollar exchange rate (the market price and local exchange rates) during the coming period.
Al-Alaq said at the time, in a special statement to Shafaq News Agency, "The Central Bank launched several packages of measures, and the packages that were launched are dealt with seriously to control the exchange rate of the parallel dollar."
Al-Alaq indicated that "the central bank's measures are continuing to control the exchange rate, and we expect a decrease in the parallel exchange rate."
The parallel price means the exchange rate of the dollar in the market and exchanges, and not the official price set at 1132 dinars per dollar, according to the decision of the Board of Directors of the Central Bank of Iraq, which was approved by the Council of Ministers.
And the Central Bank of Iraq issued three reform packages, which it said came with the aim of addressing the rise in dollar exchange rates.
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[You must be registered and logged in to see this image.]
2023-04-01 05:02
Share
Font
Shafaq News/ Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, Muhammad Shia'a al-Sudani, commented today, Saturday, on the decline in the exchange rate of the dollar in Iraq.
Saleh told Shafaq News agency, "Foreign trade financing operations in foreign exchange for the private commercial sector are currently in a stage of recovery and escalating adaptation to the new international compliance requirements that have been implemented since last November. Window sales are after the three packages launched by the Central Bank and procedures The government regulators that simplified foreign trade operations for the private sector are all undergoing an accelerated state of adaptation towards accelerating external transfer and financing trade at the official exchange rate.
He added, "The Central Bank's window sales began to touch their previous normal rates of sale, to reach approximately $200 million per working day in the foreign currency auction, which is a very stable level of sales to meet the market demand for foreign exchange, and is supported at the same time by high reserves of foreign currency that It is in the possession of the monetary authority, which enables it to effectively intervene in the stability of the market in an easy and effective manner.
And the financial and economic advisor to the Prime Minister stated that "in light of the foregoing, the price differences between the official exchange rate of the dinar against the dollar and the price equivalent to it did not widen, but there are strong signals towards contraction and a clear gradual decline towards the convergence of the two prices, especially the decline of the dollar in the parallel price on a daily and tangible basis." .
On Tuesday, March 21, the Governor of the Central Bank of Iraq, Ali Al-Alaq, expected a decrease in the parallel dollar exchange rate (the market price and local exchange rates) during the coming period.
Al-Alaq said at the time, in a special statement to Shafaq News Agency, "The Central Bank launched several packages of measures, and the packages that were launched are dealt with seriously to control the exchange rate of the parallel dollar."
Al-Alaq indicated that "the central bank's measures are continuing to control the exchange rate, and we expect a decrease in the parallel exchange rate."
The parallel price means the exchange rate of the dollar in the market and exchanges, and not the official price set at 1132 dinars per dollar, according to the decision of the Board of Directors of the Central Bank of Iraq, which was approved by the Council of Ministers.
And the Central Bank of Iraq issued three reform packages, which it said came with the aim of addressing the rise in dollar exchange rates.
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