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What is the secret of the stability of the dollar in Iraq despite the tension in the region? A government advisor explains
Time: 12/16/2024 22:36:28 Read: 1,248 times
{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh,
attributed the stability of the dollar exchange rate against the dinar to the procedures of the Central Bank of Iraq in selling the dollar through the electronic platform and compliance with it. Saleh told {Al-Furat News} agency:
“There is a reason for the stability of the exchange rate in the parallel market, contrary to expectations, as it emerges from the completion of the Central Bank of Iraq from working on the
compliance platform, and the complete shift to strengthening
foreign exchange in international banks corresponding to national banks,
which is now covering the needs of The market uses foreign currency to finance foreign trade for the private sector at the official exchange rate of 1,320 dinars per dollar. He stated that
"the period of anticipation and anxiety regarding the transition to the new situation was absorbed by the
ability to finance trade and other transfers successfully and with high fluency through the
direct relationship between the Iraqi Bank and its correspondents abroad, reinforced with
foreign currency that is bought at the official price for customers to finance their trade, especially import trade, without rejection or disruption as well." It happened while working on the platform.”
The dollar is currently sold in local markets at an exchange rate of 1,500 dinars, or 150,000 per hundred dollars.
https://alforatnews.iq/news/ما-سر-استقرار-الدولار-في-العراق-رغم-توتر-المنطقة؟-مستشار-حكومي-يوضح
Time: 12/16/2024 22:36:28 Read: 1,248 times
{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh,
attributed the stability of the dollar exchange rate against the dinar to the procedures of the Central Bank of Iraq in selling the dollar through the electronic platform and compliance with it. Saleh told {Al-Furat News} agency:
“There is a reason for the stability of the exchange rate in the parallel market, contrary to expectations, as it emerges from the completion of the Central Bank of Iraq from working on the
compliance platform, and the complete shift to strengthening
foreign exchange in international banks corresponding to national banks,
which is now covering the needs of The market uses foreign currency to finance foreign trade for the private sector at the official exchange rate of 1,320 dinars per dollar. He stated that
"the period of anticipation and anxiety regarding the transition to the new situation was absorbed by the
ability to finance trade and other transfers successfully and with high fluency through the
direct relationship between the Iraqi Bank and its correspondents abroad, reinforced with
foreign currency that is bought at the official price for customers to finance their trade, especially import trade, without rejection or disruption as well." It happened while working on the platform.”
The dollar is currently sold in local markets at an exchange rate of 1,500 dinars, or 150,000 per hundred dollars.
https://alforatnews.iq/news/ما-سر-استقرار-الدولار-في-العراق-رغم-توتر-المنطقة؟-مستشار-حكومي-يوضح
