The Central Bank explains the reasons for the rise in dollar prices
The Central Bank explains the reasons for the rise in dollar prices
7-10-2024
Information/Baghdad…
Today, Wednesday, Ahmed Brihi, a member of the Board of Directors of the Central Bank of Iraq, explained the reasons for the rise in the dollar exchange rate in the local market.
In a statement to Al-Maalouma Agency, Brihi said, “The issue of the rise in the exchange rate of the dollar against the Iraqi dinar in the local market is not related to the measures taken by the bank, but rather due to the American restrictions imposed on the Central Bank and related to the electronic platform.”
He added, “Another reason related to the rise in the dollar exchange rate is the connection to the electronic platform that controls the floating of the currency in the market, where it is less than demand, and thus the dollar price will be raised, and the platform is controlled by the US Federal Reserve, which causes a difference from the official price.”
The exchange rate of the dollar against the dinar has recorded a noticeable increase in the stock exchange and exchange shops in the capital, Baghdad, and the governorates, during the past few days.
During the current period, America has worked to destroy the Iraqi currency by imposing sanctions on private banks and preventing the dollar under many pretexts, which in one way or another led to a severe financial crisis in local markets.
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