The Governor of the Central Bank of Iraq, Ali Al-Alaq, affirmed: “The bank continues to provide the dollar at the official rate and cover all transactions,” noting: “The high exchange rate of the dollar in the market is caused by the reluctance of some merchants to enter the electronic platform.”
Al-Alaq said in a statement to the official agency: “There are some businessmen who do not enter the platform because they do not practice legitimate financial activities, and our role in the Central Bank is to push everyone who needs to buy dollars to the legal path.” He added, “Regulating the movement of money in correct contexts spares Iraq external risks, and we seek the assistance of an international auditing firm to review the money movement operations.”
He added, “We must achieve a high degree of compliance with the standards of the international financial system to ensure the integrity of our financial system.”
He pointed out that: “The rise in the exchange rate of the dollar in the market is temporary, and the problem is that some of those who want to buy dollars do not adopt the correct methods by going to the electronic platform, noting that: “There is a phenomenon of speculators in the market who spread rumours to create a crisis that raises dollar prices.”
The governor of the Central Bank stated that: “There are parties that do not want to apply legal standards to achieve special benefits, and there are parties that go to withdraw the money supply in the market and we identified those involved.”
He continued: “We sell an average of $155 million per day, and we have a reserve that covers all requests,” indicating: “The penalties imposed on 14 local banks were not in the time of the current government.”/ End
Source: National Iraqi News Agency