The Central Bank launches an electronic platform for buying and selling the dollar next month

• Time: 12/11/2022 22:15:14
• Read: 429 times

  {Economic: Al Furat News} An economist revealed the readiness of the Central Bank of Iraq to launch an electronic platform for buying and selling the dollar.

Ahmed Abd Rabbo said to the “Unannounced” program broadcast by Al-Furat satellite channel this evening: “The Central Bank will launch in December next an electronic platform for those who buy and sell dollars.”
He added that the bank “directed banks to be more scrutiny of dollar customers, which led to a rise in the currency, but it was slight and took more than its range,” expecting that “the central bank will control the price of the dollar in the next two weeks.”
Abed Rabbo pointed out that “the central bank has cash reserves that exceed 90 billion dollars, and the Iraqi economy is better than many countries,” he said.
And between “there was a rush to sell the dollar, which led to a drop in the exchange rate a month ago, and what happened today is that the Central Bank withheld dealing with a number of banks because of the instructions of the US Federal Bank, which stopped dealing with them due to money laundering, which created a gap in the local market between supply and demand for the dollar.” .
Abed Rabbo noted that “the fears of citizens and traders prompted more demand for the currency market, and we must send messages of reassurance,” stressing that “the central bank is in control of the situation.”
He continued, “The central bank is working in a difficult economic situation and cannot stop selling the currency in a country that imports everything, and the government is supposed to know the identity of importers who have large bills.”
And he stressed, “The central bank’s measures to control the market contributed to raising the price of the dollar and the Iraqi economy is proceeding in a way that warns of the next in the event of a drop in oil prices,” noting that “the lack of sales of the central bank affected the imbalance and high prices of the local market.”
He stressed that “the US federal monitors the dollar in all countries of the world and the Iraqi Central Bank has no ability to do so, and today there are indications of the recovery of the Iraqi economy.”

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