FRANK26: "THIS GETS TO 1 TO 1, TO FLOAT FOR THE REER".

 KTFA

FRANK26: "THIS GETS TO 1 TO 1, TO FLOAT FOR THE  REER".....F26

Al-Nusairi: The Central Bank's policies and procedures have contributed to narrowing the gap between the parallel and official exchange rates.

6/11/2025

Economic and banking advisor Samir Al-Nusairi expects the US dollar exchange rate to gradually decline to approach the official exchange rate, in line with the Central Bank's strategy and ongoing measures for comprehensive banking reform, regulating foreign trade financing, and transitioning from an electronic platform to direct transactions between our banks and correspondent banks.

Al-Nusairi stressed in a televised interview followed by "Al-Eqtisad News" that "the exchange rate announced as the parallel rate does not reflect the price reality, because Iraq does not have the status of a parallel market, which is only achieved when it has sources of dollars and currencies other than the central bank, such as private sector exports, remittances from residents abroad, tourism, etc." Rather, it is a black market for speculators who have lost their ability to manipulate and speculate illegally for 3 months. Also, restricting the sale and distribution of cash dollars with a strict mechanism was praised by the International Monetary Fund and the US Treasury as a successful and advanced method and application to control the stability of the US dollar exchange rate and keep cash dollar sales at a minimum level. Therefore, the circulation of it does not make it available for speculation in the parallel market.

He stated that "we should look at the rate at which the Central Bank covers all external operations, including imports and personal transfers. This explains the price stability, given the current inflation rate, which is less than 2.5%, which is lower than the inflation rates in neighboring countries. This means that the Central Bank has achieved two basic objectives of monetary policy: controlling exchange rates and reducing inflation.  This confirms that the wise monetary policy adopted by the Central Bank has contributed significantly to the stability of the exchange rate and the decline of the parallel market to the lowest possible level."

Al-Nusairi concluded that the Central Bank's insistence and cooperation with the government during the second half of the current year will lead to a gradual decline in the US dollar exchange rate, moving from the forties to the official exchange rate.

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