Identify 4 measures to support the strength of the Iraqi dinar
Identify 4 measures to support the strength of the Iraqi dinar
3-30-2023
Information/Baghdad..
Today, Thursday, the Central Bank of Iraq identified four measures to support the strength of the Iraqi dinar, and while confirming that its packages met most of the market’s demands and contributed to the decline of the dollar, it announced that it would address the problem of contracting in dollars for some departments.
And the assistant general manager of the investment department in the bank, Muhammad Yunus, said in an interview followed by the agency / information /, that “the central bank has taken a group of packages to support the process of the strength of the Iraqi dinar and to enhance external transfer and financing of trade, study and others,” noting that “the signs of these packages on the strength of the dinar Al-Iraqi started showing up today.
Younes added, “The dollar began to decline continuously against the dinar as a result of these packages that met most of the Iraqi market’s requests,” noting that “this contributed to reducing the difference between the official and parallel exchange rate.”
And that “Iraq is an importer of everything, and therefore the large volume of its demand for the dollar makes it sometimes strong against the dinar,” noting that “the central bank’s actions are supported by the decisions of the Prime Minister and the Council of Ministers.”
And he stressed, “The need for all efforts to come together to support the strength of the dinar through measures represented first by supporting the local product, secondly by reducing import operations, third by controlling markets, and fourth by controlling border crossings,” noting that “most markets have started dealing in the Iraqi dinar, and this will contribute to its support.”
He pointed out that “some departments faced a problem because their contracts are in dollars, but the Council of Ministers and the Central Bank began to solve these problems,” stressing that “Iraq has more than 130 tons of gold.”
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