The Association of Iraqi Banks reveals an expected drop in the price of the dollar

[rtl]Baghdad - Iraq today:

Samir Al-Nusairi, advisor to the Association of Iraqi Private Banks, confirmed that the rise of the dollar against the dinar on the black market these days is temporary, and it will decrease due to the target rate of the Central Bank of Iraq.

Al-Nusairi said, in a press statement, that "one of the most prominent reasons for the dollar's rise is the news of depriving 14 banks of dealing in US dollars and what speculators have done by withdrawing the dollar and unauthorized money exchanges manipulating exchange rates , in addition to the failure of some small retailers to enter the electronic platform for external transfer.

He added, "Some media outlets and analysts exacerbated the confusion of the market by exaggerating unreal and incomplete data and information, and all the aforementioned reasons led to a rise in the exchange rate on the black market."

Al-Nusairi pointed out that "the Central Bank follows up and monitors the markets in cooperation with the concerned government agencies, and urgent measures are taken to address the situation and stop all actions counter to harming the national economy."

And he continued, “The Central Bank is working to diagnose and study the causes and obstacles to entering the electronic platform, and to make possible facilities and flexibility to accelerate external transfers in banks, the Central Bank, and in the relevant international banking agencies, And to ensure that foreign currencies reach the real and final benefit.

Al-Nusairi noted that "the measures have resulted in a decline in the dollar since yesterday and will continue to decline, especially since the Central Bank is currently working on adopting new mechanisms and working contexts to control monetary stability, and their results will appear soon." , and we urge all government agencies, wholesalers and businessmen to support the Iraqi dinar and deal with it in all Domestic monetary activities and trades, as it is strong and covered by foreign monetary reserves exceeding $113 billion, and its purchasing power is gradually recovering, In addition to being a basic pillar of national sovereignty.

He pointed out that "the central bank constantly announces the possibility of securing the dollar in the quantities required by everyone who needs it at the official price and by the only way, which is the electronic platform of the central bank."[/rtl]
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