The Central Bank Told Al-Eqtisad News: Our Measures Contributed To Lowering The Exchange Rate, And The Decline Is Not Temporary.

Money and Business  Economy News – Baghdad  The Director of the Investment Department at the Central Bank of Iraq, Muhammad Younis, confirmed on Wednesday that the decline in the dollar exchange rate in local markets is not temporary.

Younis told Al-Eqtisad News, "The Central Bank of Iraq's measures since 2023 have significantly contributed to limiting the rise in the dollar exchange rate against the Iraqi dinar," noting that "the slogan 'The Iraqi dinar is stronger' that the Iraqi government and the Central Bank began with is beginning to see the light of day."

He added, "The Central Bank has taken several steps, including fulfilling all requests received by the bank for trade and services financing, electronic payment settlements, and travel dollars for all those wishing to travel outside Iraq. It has facilitated access to cash dollars for travel, and prohibited any banks from imposing exchange rates other than the official ones."

He pointed to "assistance in opening accounts for Iraqi and foreign banks, thus enabling transfers in dollars, Jordanian dinars, and Emirati dirhams, and expanding transfer channels."

In response to "rumors" about a "temporary" decline in exchange rates, Younis affirmed that "this decline is not temporary, and the Central Bank possesses substantial foreign currency reserves and is capable of controlling exchange rates."  https://economy-news.net/content.php?id=55932