New packages to tackle challenges
Baghdad – 964
On Thursday, the Central Bank of Iraq identified the reasons for the gradual decline in the dollar rate in the past two days, while noting that the difference between the official and parallel exchange rates will gradually disappear.
Deputy Governor of the Central Bank, Ammar Hamad Khalaf, told the official channel, followed by the 964 network that “the Central Bank took several measures to reduce the price of the dollar, especially through the three packages it launched earlier this year, which were capable of addressing the rise in the exchange rate in the parallel market.”
He added, “The bank met with the Federation of Iraqi Chambers of Commerce and a number of traders to discuss the challenges and develop mechanisms to address them,” likely “the issuance of new packages to address all the challenges facing traders to facilitate their access to foreign currencies.”
He explained behind the gradual decline in the dollar rate in the past two days to increase the volume of sales of the Central Bank,” noting that “the bank has liberalized restrictions on sales, and the bank can sell any amount of dollar as long as there is real demand for the dollar,” explaining that “the difference between the official and parallel exchange rates will gradually disappear.”
He pointed out that “Iraq does not need to establish new banks at the present or future, but rather activate existing banks, pointing out that “the existence of more than 70 government and civil banks.”
He pointed out that “the central bank is serious about sorting good banks from the bad.”
He pointed out that “there is a great response by banks to the Central Bank’s instructions on the official exchange rate,” calling at the same time to facilitate the procedures of traders’ transactions quickly.
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