Parliamentary Finance explains the relationship between increasing the traveler's share of the dollar and the rise in the exchange rate[You must be registered and logged in to see this image.]
Baghdad today - Baghdad
A member of the Parliamentary Finance Committee, Representative Mudar Al-Karawi, revealed today, Saturday, one goal behind increasing the traveler’s share to 3 thousand dollars per month.
Al-Karawi told "Baghdad Today" that "the central bank's policy is independent and is primarily responsible for drawing up the country's financial policies and cannot be interfered with," pointing out that "its decisions come in accordance with specific principles within the criteria for maintaining financial stability, especially for exchange rates."
He added, "The decision to increase the traveler's share of the dollar currency by 3 thousand dollars per month comes to achieve an important goal, which is to reduce the demand for the parallel market to sell dollars in order to curb the rise in exchange rates."
He pointed out that “fulfilling the need of the bulk of travelers for hard currency liquidity, referring to the dollar, will reduce demand for the parallel market and limit the rise in exchange rates at higher rates,” expecting that “there will be other decisions towards strengthening the strength of the dinar against the dollar and pushing the prices of the latter.” down in the coming weeks.
The Central Bank of Iraq had taken, earlier, a number of measures to control the exchange rate of the dollar in the local markets, including opening bank offices in Iraqi airports to sell the dollar to travelers at the official exchange rate.