Among them is the electronic platform.. The Iraqi Central Bank announces the reasons for the high dollar exchange rate
Among them is the electronic platform.. The Iraqi Central Bank announces the reasons for the high dollar exchange rate
2022-12-15 03:23
Shafaq News/ The Central Bank of Iraq announced, on Thursday, the reasons for the rise in the exchange rate of the dollar in the local markets, including the “electronic platform”, describing this rise as simple.
The bank said, in a press statement, received by Shafaq News Agency, that the slight rise in the exchange rate of the dollar in the local markets during the previous days is due to some factors, including the building of an electronic platform through which banks raise the requests of their customers.
And the bank’s statement quoted an authorized source as saying that the Central Bank started building this platform months ago in coordination with international bodies for the purpose of ruling and organizing the operations of the buying and selling window of foreign currency and ensuring effective control over it, as a specialized international company was commissioned to build it and link banks with the Central Bank through it, Indicating that the platform requires providing information about customers requesting transfers, beneficiaries and correspondent banks.
He explained that due to the recent use of this platform, many errors are being discovered, which requires the bank to re-download it, indicating that these procedures take additional time to accept the request and pass it through the global financial system.
In this regard, the reserves of the central bank and the state’s financial solvency in general are in excellent condition and at their best levels in decades, and that the current supply of foreign currency is not linked to resources but rather to administrative and auditing procedures, which will be bypassed during the coming days in addition to that, according to the bank’s statement.
He added, that the Central Bank took a number of measures to expand the supply of foreign exchange to meet the public’s demand for cash dollars, and the window management was directed to meet the requests of banks for the coming days faster by executing double requests, and a preferential price was given for the implementation of documentary credits, for the purpose of covering the local demand. .
shafaq.com
