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How did the decisions of the Central Bank of Iraq contribute to the dollar crisis?
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Baghdad Today - Baghdad
Economic expert Mustafa Akram Hantoush confirmed today, Monday (July 29, 2024), that some decisions of the Central Bank of Iraq contributed significantly to the dollar crisis in the local market.
Hantoush told Baghdad Today that "despite all the measures taken by the Central Bank of Iraq to control the dollar exchange rate, it has failed to do so throughout the past period. Rather, some of the bank's decisions have contributed to raising prices, as they were hasty and ill-considered decisions, the latest of which was preventing the giving of dollars to travelers except through the airport."
He added, "The Central Bank must search for realistic and real solutions to control the exchange rate of the dollar in a real way, and continuing with these measures will lead to continued fluctuations, and this matter is the responsibility of the Central Bank of Iraq."
The Central Bank of Iraq has completely banned the dollar from money changers except through the outlets at the airport or by purchasing through the bank’s electronic window, which has made it difficult to obtain the dollar and has made it scarce for black market traders and smugglers, which has led to its rise by 18 dinars above the official price, and it is also expected to rise to higher levels, according to observers.
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