Economy| 08:43 - 11/24/2023
Mawazine News - Baghdad
The Finance Committee in Parliament considered that diversifying the sources of foreign currencies in commercial transactions is the only way to address the problem of the increasing demand for the dollar, and to create a parallel market for selling hard currency.
The head of the committee, Atwan Al-Atwani, said in a statement received by Mawazine News,
“The Central Bank’s response to our previous call regarding addressing the problem of the increasing demand for the dollar and creating a parallel market for selling hard currency has come a long way in the mission of restoring market stability.” He added,
"By starting to open different windows to deal with other foreign currencies and adopting the (clearing) system in trade exchange with various countries, the Central Bank has come a long way in getting rid of the dominance of the dollar and strengthening the strength of the Iraqi dinar and bringing it into the line of global commercial transactions." He stressed
"the importance of this approach as an effective solution and a well-thought-out strategy to open new horizons that ensure the facilitation of commercial transactions procedures at various levels," reiterating "full support for the steps of the Iraqi Central Bank." He stressed that the
Iraqi Central Bank "is moving steadily towards developing real solutions to the crisis, while we look forward to other steps that will restore stability to the market and end the problem of exchange rate fluctuations and increasing demand for the dollar."