Sudanese advisor reveals the reasons for the rise in dollar prices: There is no fear for the financial capacity
Sudanese advisor reveals the reasons for the rise in dollar prices: There is no fear for the financial capacity
12-26-2022
Information / special.
Today, Monday, the financial and economic advisor, Mazhar Muhammad Salih, revealed to the Prime Minister, Muhammad Shia’ al-Sudani, the reasons for fluctuations in the exchange rate of the dollar outside the central rate, while stressing that Iraq’s financial capabilities in imposing stability in exchange rates have no fear.
Saleh said, in an interview with Al-Maalouma Agency, that “fluctuations in the exchange rate outside the central rate at present have come for internal and external reasons. significantly in meeting the needs of the local market.
He added, “However, it became clear that there is a monopolistic activity within the market that acts outside the regulatory controls stipulated in the Anti-Money Laundering Law,” noting that “there are objections from international compliance control regarding foreign transfers, incomplete information provided by private banks.”
Al-Sudani’s advisor explained that “the international financial system took another turn in imposing compliance controls and controlling the movement of funds in the dollar currency when conducting external transfer transactions, for many reasons that may have been imposed by the Ukrainian war and international conflicts in the Middle East.”
And Salih said, “The government is seeking, in its relentless measures, to protect economic stability, at a time when official reserves are enjoying their highest historical levels, which are approaching $100 billion, which is at the same time the highest reserve in Iraq’s financial history.”
And the exchange rate of the US dollar continues to rise against the Iraqi dinar on the main stock exchange in the capital, Baghdad, to exceed today, Monday, for the first time “in two years,” the barrier of 158 thousand dinars for every 100 dollars.
almaalomah.me
