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Specialist: The Central Bank has taken an additional decision that will worsen the exchange rate in the market
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Baghdad today - Baghdad
An economic expert confirmed today, Sunday (October 8, 2023), that the decisions of the Central Bank of Iraq, especially preventing the delivery of citizens’ transfers in dollars, will exacerbate the rise in exchange rates.
Economic affairs expert Nasser Al-Kinani told Baghdad Al-Youm, “The Central Bank’s decisions regarding confronting the dollar crisis are all patchwork and not real solutions, and these decisions for nearly a year have not resolved the crisis that is worsening day after day.”
He stated that "some of the Central Bank's decisions contributed to the issue of the dollar crisis, especially when allowing some banks to refuse to deliver dollar transfers that reach some citizens," noting that "such measures contribute effectively towards going to the parallel market to buy the dollar, and this worsens the issue and does not solve it." .
The Central Bank of Iraq had confirmed in a statement that its decision to stop cash withdrawals includes only remittances received from outside Iraq according to certain arrangements, and does not in any way include citizens’ balances deposited in US dollars.
Source: Baghdad Today
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