Parliamentary Finance: Banned banks acquired 40% of the currency auction
Parliamentary Finance: Banned banks acquired 40% of the currency auction
12-11-2022
Information / Baghdad..
Member of the Parliamentary Finance Committee, Mustafa Jabbar Sanad, revealed, on Sunday, that banned banks had acquired about 40 percent of the currency auction and smuggled money outside the country.
Sanad said in an interview with Al-Maalouma agency, “The high selling prices of the dollar in the markets came due to the exclusion of 4 private Iraqi banks accused of smuggling currency outside Iraq, which are Al-Ansari, the Middle East, Al-Qabid and Asia, following directives and warnings from the US Treasury Department.”
He added that “the rise in the price of the dollar led to a decrease in the volume of sales of the foreign currency sale window from 240 million dollars to 140 million dollars,” noting that “the decrease in the volume of sales of the currency sale window, which led to the return of many remittances and banks reduced the purchase of large quantities of dollars due to the decision.” The latter has the right to ban 4 private banks.
Sanad explained, “There are many reasons behind the rise of the dollar during the past days, which is the speculations launched by currency traders, from which they get a lot of money without supervision,” stressing that “there are new government steps that will take it upon itself to return the dollar to the natural balance.”
And the Parliamentary Finance Committee had confirmed earlier in an earlier interview with Al-Maaloumah, that the rise in dollar exchange rates is due to the recent Central Bank measures to close outlets and prevent the sale of currency to some private banks, which reduced the presence of hard currency in the market.
almaalomah.me
