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The exchange rate of the Iraqi dinar is fixed and established: there is no influence of the parallel market
July 14, 2024 Last updated: July 14, 2024
The Independent/- Advisor to the Iraqi Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed that
the exchange rate in the parallel market does not affect the stability of the general level of prices in the country.
Highlights of the statement:
External factor: International banking compliance controls affect the demand for dollars from Iraqi bank accounts.
Internal factor: Some people exploit the external factor to achieve profitable gains.
Dominance of fixed exchange rate system: Strong international reserves covering 100% foreign currency.
Strength of the central exchange market: The official exchange rate of the dollar against the dinar in the parallel market does not affect price stability.
Financing foreign trade: 90% of Iraq’s foreign trade is financed at the official exchange rate (1,320 dinars to the dollar).
Price stability: Annual inflation in Iraq does not exceed 3%.
Foreign reserves: exceeding $100 billion. The
official exchange market: dominant to contain any fluctuations in the parallel market.
Decline of the dollarization phenomenon: Internal transactions are carried out in Iraqi dinars. The
influence of the parallel market is limited: only 10% of the total currency supply and demand transactions.
Exchange rate stability: real and well-established resulting from strong monetary and fiscal policies.
Inflation containment: There are no longer any inflationary expectations generated by the parallel market.
The Iraqi dinar is characterized by real and well-established stability in its price, and is not affected by the fluctuations of the parallel market.
This stability is due to the
strength of the fixed exchange rate system, the
effectiveness of monetary and financial policies, and the
high value of foreign reserves.
https://mustaqila.com/سعر-صرف-الدينار-العراقي-ثابت-وراسخ-لا-ت/
July 14, 2024 Last updated: July 14, 2024
The Independent/- Advisor to the Iraqi Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed that
the exchange rate in the parallel market does not affect the stability of the general level of prices in the country.
Highlights of the statement:
External factor: International banking compliance controls affect the demand for dollars from Iraqi bank accounts.
Internal factor: Some people exploit the external factor to achieve profitable gains.
Dominance of fixed exchange rate system: Strong international reserves covering 100% foreign currency.
Strength of the central exchange market: The official exchange rate of the dollar against the dinar in the parallel market does not affect price stability.
Financing foreign trade: 90% of Iraq’s foreign trade is financed at the official exchange rate (1,320 dinars to the dollar).
Price stability: Annual inflation in Iraq does not exceed 3%.
Foreign reserves: exceeding $100 billion. The
official exchange market: dominant to contain any fluctuations in the parallel market.
Decline of the dollarization phenomenon: Internal transactions are carried out in Iraqi dinars. The
influence of the parallel market is limited: only 10% of the total currency supply and demand transactions.
Exchange rate stability: real and well-established resulting from strong monetary and fiscal policies.
Inflation containment: There are no longer any inflationary expectations generated by the parallel market.
The Iraqi dinar is characterized by real and well-established stability in its price, and is not affected by the fluctuations of the parallel market.
This stability is due to the
strength of the fixed exchange rate system, the
effectiveness of monetary and financial policies, and the
high value of foreign reserves.
https://mustaqila.com/سعر-صرف-الدينار-العراقي-ثابت-وراسخ-لا-ت/
