The Central Bank allows the import of Iranian tomans with its latest decision.. Experts but how?
The Central Bank allows the import of Iranian tomans with its latest decision.. Experts but how?
11-9-2023
Iraqi experts said that the Central Bank’s decision to “conditionally” allow the import of foreign currency likely targets currencies subject to American sanctions or restrictions, such as the Iranian toman, or exceeds the limits on some companies in the Gulf and Turkey, via the lira and a number of Arab currencies, but they wondered. How to do that, and what will be in return for it, as part of attempts to alleviate the dollar market, which has been under maximum pressure for months.
What I think is most likely is that the Central Bank of Iraq wants to allow banks to buy currencies other than the dollar, to conduct contracts in these currencies, and have a balance in the lira, dinar, and toman… etc., and thus carry out commercial operations through them, and this does not contradict the Federal Bank, but the decision here is in how the exchange Currency: If you buy currencies from countries under sanctions, such as the toman, the exchange for them must be either an Iraqi dinar or a dollar, so how will we be able to barter them!? Will this be a commercial exchange?
Jalil Al-Lami, economist:
The market is witnessing a shortage of most imported goods, especially consumer tools, so the Central Bank of Iraq decided to work to reduce pressure on the dollar in the parallel market on the one hand, since dollar prices are still high, and to facilitate the import of currency and foreign transfers on the other hand.
The Central Bank of Iraq allows licensed Iraqi banks to import foreign currency in order to provide the required flexibility for banks operating in Iraq and in order to prepare for the next stage that the banking sector awaits early next year, provided that the banks adhere to the conditions announced.
964media.com
