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In the document.. The Central Bank explains the procedures for reducing the exchange rate by 7 points
Today 15:08
In the document.. The Central Bank explains the procedures for reducing the exchange rate by 7 points
https://media.almaalomah.me/archive/image/2023/5/14/18f1b8f4-ca87-4bc0-b222-d0f0ea86c46e.jpg
https://almaalomah.me/news/economy/بالوثيقة-البنك-المركزي-يشرح-اجراءات-تخفيض-سعر-الصرف-بـ-7-نقا
[Partial and incomplete Translation of https://media.almaalomah.me/archive/image/2023/5/14/18f1b8f4-ca87-4bc0-b222-d0f0ea86c46e.jpg ]
Date: 2023/5/4
To / Mr. Representative Muhammad Jassim Muhammad Ali Al-Khafaji, the honorable
M / Parliamentary question
Referring to your letter numbered M22/937 on 4/60/2023, we would like to state the following:
1[. The main functions of the Central Bank of Iraq is the management of monetary policy, which
It aims to control inflation, stimulate the economy, balance the balance of payments, and achieve stability
Execution by controlling the exchange rate of the US dollar through the currency sale window.
2. That all import operations are carried out according to the official price of 1320 dinars per dollar, as it meets this! the bank
Demands for cash dollars for travel and medical purposes are at the same official rate.
3. Iraq is a net importer of most commodities and merchandise due to the lack of a productive apparatus that meets
domestic demand; The reduction of the exchange rate of the US dollar against the Iraqi dinar leads to
Make the prices of imported goods cheaper for residents within the country.
4. The decision to raise the value of the Iraqi dinar is commensurate with the rise in the current account of the balance
Payments, especially in light of the increase in foreign reserves, which exceeded 110 billion dollars
American; The flight also curbed inflationary expectations, which have worsened in recent months.
5. The difference between the official exchange rate and the market rate is due to several factors, including establishment
The new electronic platform between the Central Bank of Iraq and the participating commercial banks
The window to process external transfer requests, which led to restricting the supply of foreign currencies
It is supposed to be temporary until the banks adapt to the new situation
Today 15:08
In the document.. The Central Bank explains the procedures for reducing the exchange rate by 7 points
https://media.almaalomah.me/archive/image/2023/5/14/18f1b8f4-ca87-4bc0-b222-d0f0ea86c46e.jpg
https://almaalomah.me/news/economy/بالوثيقة-البنك-المركزي-يشرح-اجراءات-تخفيض-سعر-الصرف-بـ-7-نقا
[Partial and incomplete Translation of https://media.almaalomah.me/archive/image/2023/5/14/18f1b8f4-ca87-4bc0-b222-d0f0ea86c46e.jpg ]
Date: 2023/5/4
To / Mr. Representative Muhammad Jassim Muhammad Ali Al-Khafaji, the honorable
M / Parliamentary question
Referring to your letter numbered M22/937 on 4/60/2023, we would like to state the following:
1[. The main functions of the Central Bank of Iraq is the management of monetary policy, which
It aims to control inflation, stimulate the economy, balance the balance of payments, and achieve stability
Execution by controlling the exchange rate of the US dollar through the currency sale window.
2. That all import operations are carried out according to the official price of 1320 dinars per dollar, as it meets this! the bank
Demands for cash dollars for travel and medical purposes are at the same official rate.
3. Iraq is a net importer of most commodities and merchandise due to the lack of a productive apparatus that meets
domestic demand; The reduction of the exchange rate of the US dollar against the Iraqi dinar leads to
Make the prices of imported goods cheaper for residents within the country.
4. The decision to raise the value of the Iraqi dinar is commensurate with the rise in the current account of the balance
Payments, especially in light of the increase in foreign reserves, which exceeded 110 billion dollars
American; The flight also curbed inflationary expectations, which have worsened in recent months.
5. The difference between the official exchange rate and the market rate is due to several factors, including establishment
The new electronic platform between the Central Bank of Iraq and the participating commercial banks
The window to process external transfer requests, which led to restricting the supply of foreign currencies
It is supposed to be temporary until the banks adapt to the new situation
