Dinar’s rise revives hopes for financial stability
Dinar’s rise revives hopes for financial stability
2025/05/11
The Iraqi dinar has recently performed strongly against the dollar, driven by a series of monetary measures implemented by the Central Bank. These measures have contributed to reducing demand for hard currency in the parallel market and boosting traders’ confidence in official channels.
This improvement comes amid ongoing government efforts to consolidate financial stability and stimulate business activity through effective monetary tools and transparent and direct financing mechanisms.
Deputy Governor of the Central Bank of Kuwait, Dr. Ammar Hamad, confirmed to Al-Sabah that this increase reflects the success of the monetary policy pursued by the bank in reducing reliance on the parallel market and providing safe and transparent sources of financing for foreign trade.
He explained that this policy enabled the commercial community to obtain dollars through official channels that adhere to international standards, without having to resort to the unregulated market.
Hamad pointed out that the Central Bank continues to work towards strengthening the local banking system and raising its operational efficiency to levels consistent with international banking standards, making it a fundamental pillar in driving economic development in Iraq.
alsabaah.iq
