A new announcement by the Central Bank on the exchange rate of the dollar

{Economic: Al Furat News} The Central Bank of Iraq issued a new clarification regarding the high exchange rate of the dollar.

The bank’s advisor, Ihsan Al-Yasiri, said in a press statement today, Wednesday, that: “The rise in the exchange rate of the dollar against the Iraqi dinar is a result of the development of an electronic platform to ensure that the dollar reaches directly to the people who benefit from it without going through additional episodes.”

Al-Yasiri pointed out that, “The Central Bank asked merchants to go to the official centers, which are the official banks, in addition to selling the dollar directly to travelers, and these measures affected the exchange rate of the dollar,” stressing that “this situation is temporary and balance will return to the market.”

About a month ago, the exchange rate of the dollar against the Iraqi dinar has been witnessing a continuous fluctuation between a continuous decrease and increase in the Iraqi markets.

The Central Bank of Iraq deals with 14 banks in the currency auction, and these are the banks that adhere to the bank’s terms, and the Monetary Services Court dismissed the claims of four banks against the bank’s governor, after the bank stopped selling the dollar to the four banks on November 6, 2022.

The Central Bank of Iraq is currently monitoring 11 banks, and it is likely that a number of these banks will be included in the four banks that it does not deal with.

Alforatnews.iq