Parliamentary Finance reveals a central bank action regarding the rise of the dollar

• Time: 12/09/2022 13:28:21
• Read: 1,404 times

  {Economic: Al Furat News} The Parliamentary Finance Committee revealed a procedure for the Central Bank of Iraq to stabilize the exchange rate of the dollar in the local markets.

Committee member Mustafa Al-Karawi told {Euphrates News} agency: “The rise in dollar exchange rates is due to the recent Central Bank measures of closing outlets and preventing the sale of currency to some private banks, which reduced the presence of hard currency in the market.”
He added, “From this week, sales to outlets will increase, and after we contacted the governor of the Central Bank, he assured us that the exchange rate situation will stabilize in the next week, and the dollar will return to its normal position from 1480 or 1470 dinars to the dollar.”
Economists attributed the recent rise in the exchange rate of the dollar in the local markets to the central bank stopping 14 banks from entering the currency auction behind the rise in dollar prices in the local markets.
And the Central Bank had decided on November 6 to stop dealing in “dollars” with four banks for audit purposes whose names are linked to corruption files, while some parties said that the US Federal Reserve stopped financial transfers to 14 Iraqi banks on charges of smuggling money from the currency auction.

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