The Central Bank explains the reasons for the rise in the price of the dollar and sets a date for its decline

Information / Baghdad.. Today, Saturday, the Central Bank of Iraq clarified the reasons for the rise in the price of the dollar, while setting a date for its return to normal

The Central Bank’s advisor, Ihsan Al-Yasiri, said in a statement to the official agency, which I saw / information /, that “the problem of the exchange rate is related to the money supply,” noting that “the central bank has established a platform for banks to submit their requests to obtain the dollar.”

He pointed out that “this platform has procedures, because Iraq is still complying with international requirements on the issue of the dollar and combating money laundering and terrorist financing,” explaining that “some banks took time to implement these requests.”

Al-Yasiri added, “The banks previously submitted their requests and came to the central bank and obtained the dollar, but now the banks raise their requests on the platform and when they reach the central bank they are checked by the bank, and this process may take some time,” noting that “some banks have restrictions.” international and there is no longer any dealing with it by the Central Bank.

He explained that “the Central Bank dealt with this by raising the level of supply of demand for cash sales and increased the shares of banks and companies of category (A – B – C) from the dollar,” noting that “audit procedures will take their usual ranges, and the exchange rate will return to the natural balance.” “.

And he stressed that “the exchange rate is still disciplined and will be returned to normal within two weeks, no more.”

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