Changes in commercial transactions... Iraq replaces the dollar with other currencies to stabilize the dinar, 19 NOV
Member of the Parliamentary Finance Committee, Nermin Maarouf, confirmed today, Saturday, that the Central Bank has made notable efforts recently to reduce pressure on the US dollar against the Iraqi dinar, and to control instability in the value of the dollar.
Marouf told Al-Mutala’ Agency, “The measures that have been adopted include dealing with some merchants abroad in other currencies, such as the Indian rupee, the Chinese yuan, and the Emirati dirham, based on the volume of trade exchanges that Iraq conducts with those countries, especially with China and India, and aims to This step reduces the pressure on buying dollars in commercial transactions.”
Marouf indicated that "these measures have not yet fully entered into force, as traders informed her that India has agreed to deal in the Indian rupee, but she is awaiting the resolution of the official mechanism between the government of Iraq and India before implementing them fully."
She stressed the need to accelerate procedures related to this matter to achieve stability of the Iraqi dinar against the US dollar.
She added, "A bilateral agreement must be reached between countries and Iraq to deal in the currency of the country with which trade is conducted, given that the dollar is considered the prevailing currency in most commercial transactions currently."
Marouf concluded her statement by "calling to speed up procedures and reach an official agreement to implement these steps, in order to enhance the stability of the Iraqi dinar and achieve greater financial independence for the country." link
No comments:
Post a Comment