Concerning the dollar..Parliamentary: The central bank’s measures did not withstand the decisions of the US Treasury
Concerning the dollar..Parliamentary: The central bank’s measures did not withstand the decisions of the US Treasury
7-31-2023
Information / special..
Today, Monday, a member of the House of Representatives, Kazem Al-Toki, considered that the measures taken by the Central Bank did not withstand the decisions of the US Treasury regarding the dollar, while he confirmed that Washington imposed many financial policies on the Central Bank.
Al-Touki said, in an interview with the information agency, that “the widening of the dollar exchange rate gap between the parallel and official rate is greater than the central bank’s measures,” adding that “the sanctions that the US Treasury continues to impose will not allow the dollar’s exchange rates to stabilize in the local markets.”
And he continued, “The Central Bank did not succeed in limiting the rise in dollar prices in the local markets compared to the official rate that it adopts,” noting that “the United States of America imposed many financial policies on the Central Bank.”
Al-Touki concluded his speech: “The Central Bank’s control over financial policy is very weak, and this was proven by the reality after months of high dollar prices,” adding that “the measures taken by the Central Bank did not withstand the US Treasury’s decisions regarding the dollar.”
And the US Treasury decided, during the past week, to stop 14 Iraqi banks from trading and selling hard currency, which caused a rise in the exchange rates of the dollar in the local markets.
Iraq suffers from several files, most notably the rise in dollar exchange rates due to US sanctions on banks, and the electricity crisis to prevent Iraq from paying gas fees and bringing in effective foreign companies.
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