Central Bank: Restrictions on sales have been liberalized and we can sell any amount of dollar

Economy – 30-03-2023 09:51 PM – Reads: 11939

The Central Bank of Iraq, on Thursday, identified the reasons for the gradual decline in the price of the dollar in the past two days, while noting that the difference between the official and parallel exchange rates will gradually disappear. “The Central Bank has taken several measures to lower the dollar rate, especially through the three packages launched earlier this year, which were capable of addressing the rise in the exchange rate in the parallel market,” Deputy Governor Ammar Hamad Khalaf said in a statement to state television.

He added that “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,” suggesting the issuance of new packages to address all the challenges facing traders to facilitate their access to foreign currencies. He explained the gradual decline in the dollar rate in the past two days to the increase in the volume of central bank sales,” 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 “there are more than 70 government and civil banks,” noting 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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