IRAQ NEWS BY DINAR IRAQ & DONG VIETNAM, 25 JULY

 A CLEAR FLUCTUATION IN THE IRAQI MARKET AND CALLS FOR A GREATER MOVE

The Iraqi market is witnessing a state of turmoil due to the recent rise in dollar exchange rates, and this came, according to specialists, as a result of stopping fourteen banks from dealing in the US currency for their involvement in dollar transfers outside the country.

Since the Central Bank started working on the electronic platform and the international financial transfer system Swift and that about seven months ago did not witness the dollar’s exchange rates Iraq despite the attempts of the government and the central bank to control the matter in the parallel markets, the exchange rate is still recording a significant increase compared to the official rate, despite the approval of the country’s general budget and the sale of the central bank for more than two hundred million dollars per day.

(currency auction sales should be around 60-80 million per day to support import payments, so we can see they are still stealing dollars. )

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PARLIAMENT CONDUCTS A COMPREHENSIVE ASSESSMENT OF THE PARALLEL DOLLAR MARKET

A member of the Parliamentary Finance Committee, Youssef Al-Kalabi, accused the advanced staff of the Central Bank of Iraq of failing to perform his duty in dealing with the dollar crisis.

Al-Kalabi said, in a televised interview, followed by “The Information”, that “the advanced cadre in the Central Bank has been” nesting “for years and should be reviewed and replaced.”

He added, “The dollar crisis is great and cannot be tolerated, and there will be a detailed report on the failure of the Central Bank of Iraq to address the rise in dollar prices.” He pointed out, “It is not possible to keep much silence about the insane rise of the dollar in the parallel market and the citizen’s burden of additional expenses to meet needs.