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[size=36]Central Bank Governor explains reasons for dollar price fluctuations: 85% of remittances do not pass through the US Federal Reserve[/size]
Economy | 06:12 - 04/08/2024
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Mawazine News - Baghdad
The Governor of the Central Bank, Ali Mohsen Al-Alaq, revealed today, Sunday, the reasons for the fluctuation of the dollar price, noting that 85% of transfers do not pass through the US Federal Reserve.
A statement by the Parliament's media department received by (Mawazine News) stated that "the governor of the Central Bank provided a full briefing on the reasons for the fluctuation of the exchange rate, the mechanism of the electronic platform and its role in controlling internal and external trade, in addition to the housing initiative file, US sanctions on Iraqi banks, and the status of the foreign currency reserve at the Central Bank." Al-Alaq explained, according to the statement, that "Iraq's foreign currency reserve is sufficient to create balance in the market," indicating that "the Central Bank sells more than $250 million daily to meet the requirements of foreign trade."
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