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A government advisor explains the reasons for the decline in the dollar exchange rate
December 21 21:13
Information / Baghdad...
On Thursday, the economic advisor to the Prime Minister, Mazhar Muhammad Saleh, explained 4 reasons that contributed to the decline in dollar prices in Iraqi local markets.
Saleh said in a televised interview followed by “Al-Ma’louma” that,
“The high capabilities and foreign exchange reserves that Iraq possesses and the good management and direction of financing Iraq’s foreign trade during the past period have resulted in a significant improvement in the exchange rate in the parallel market.” Saleh added,
"Today's market prices have gradually begun to approach the central official market for many reasons, most notably the regularity of private sector foreign trade through the compliance platform and the great flexibility shown by banks in dealing with this platform for the purpose of securing transfers." He continued,
"Openness to transfer in many ways, including payment cards in all their forms, the import of cash foreign currency into the country, and organizing the financing of foreign trade in various currencies, not only the dollar but also the euro, in addition to the currencies of countries and trading partners such as the Emirati dirham and others as well. All of this contributed to price reduction". He pointed out that
"this great flexibility created a flexible market for foreign currency supported by large reserves of the Central Bank of Iraq, which contained all the fluctuations of the parallel market and the speculators' market." He stressed that
"the dollar will continue to decline and continue to improve, and
this flexible policy of the Central Bank, disciplined in accordance with the rules of compliance, will continue.
At the same time, there is freedom for external transfer,
but this freedom does not violate the rules of compliance, and
everyone is following one approach,
which is the improvement of the exchange rate of the Iraqi dinar, and because of the strength of the economy and discipline." High compliance at the same time. Ended 25 n
https://almaalomah.me/news/50870/economy/مستشار-حكومي-يوضح-أسباب-تراجع-سعر-صرف-الدولار
December 21 21:13
Information / Baghdad...
On Thursday, the economic advisor to the Prime Minister, Mazhar Muhammad Saleh, explained 4 reasons that contributed to the decline in dollar prices in Iraqi local markets.
Saleh said in a televised interview followed by “Al-Ma’louma” that,
“The high capabilities and foreign exchange reserves that Iraq possesses and the good management and direction of financing Iraq’s foreign trade during the past period have resulted in a significant improvement in the exchange rate in the parallel market.” Saleh added,
"Today's market prices have gradually begun to approach the central official market for many reasons, most notably the regularity of private sector foreign trade through the compliance platform and the great flexibility shown by banks in dealing with this platform for the purpose of securing transfers." He continued,
"Openness to transfer in many ways, including payment cards in all their forms, the import of cash foreign currency into the country, and organizing the financing of foreign trade in various currencies, not only the dollar but also the euro, in addition to the currencies of countries and trading partners such as the Emirati dirham and others as well. All of this contributed to price reduction". He pointed out that
"this great flexibility created a flexible market for foreign currency supported by large reserves of the Central Bank of Iraq, which contained all the fluctuations of the parallel market and the speculators' market." He stressed that
"the dollar will continue to decline and continue to improve, and
this flexible policy of the Central Bank, disciplined in accordance with the rules of compliance, will continue.
At the same time, there is freedom for external transfer,
but this freedom does not violate the rules of compliance, and
everyone is following one approach,
which is the improvement of the exchange rate of the Iraqi dinar, and because of the strength of the economy and discipline." High compliance at the same time. Ended 25 n
https://almaalomah.me/news/50870/economy/مستشار-حكومي-يوضح-أسباب-تراجع-سعر-صرف-الدولار
