Radhi: The stability of the dollar is linked to the continued flow of oil revenues.

Rasoul Radhi, a member of the State of Law Coalition, confirmed the resumption of oil revenue transfers from the US Federal Reserve to Iraq after a recent halt. He noted that the funds arrived in Iraq, particularly after the selection of the new prime minister.
Radhi told Al-Maalouma, “The exchange rate of the dollar in local markets depends on the foreign currency sent to Iraq, especially since Iraqi oil sales go to the US Federal Reserve.”

He added, “Iraq receives approximately $350 million weekly from the Federal Reserve as revenue from oil sales, but these payments were suspended recently due to regional developments. The funds were then resumed after the selection of the new prime minister.”

He explained that “the Federal Reserve sent $1 billion to Iraq after the prime minister was chosen, and it is unlikely that the flow of revenues to Iraq will stop, especially given the Federal Reserve’s confidence in the new Iraqi government.”

Almaalomah.me