Al-Nusairi: The Central Bank has achieved an important step to finance trade with Türkiye in the euro, 6 DEC

  Al-Nusairi: The Central Bank has achieved an important step to finance trade with Türkiye in the euro

Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed on Wednesday that the Central Bank completed an important step last week to finance trade with Turkey in the euro currency in the tens of millions as an initial payment to cover retailers’ imports from Turkey, as “the implementation of the banking understandings agreement with Turkey began last Sunday.” ".

Al-Nusairi noted that “this came through Iraqi merchants paying in Iraqi dinars and the Central Bank strengthening them in euros,” pointing out that “after that, settlement is made with Turkish merchants in Turkish lira.”

The advisor to the Iraqi Private Banks Association, Samir Al-Nusairi, previously announced that “an Iraqi delegation went to Turkey to agree with Turkish banks to enhance balances in euros or Turkish lira.”

He pointed out that the Central Bank continues to hold periodic agreed-upon meetings with the US Federal Reserve and other banks that were agreed with last month as part of a series of negotiations in order to reach more agreements to regulate trade financing and enhance balances of various currencies in correspondent banks, and thus control speculation in the dollar. On the black market, maintaining exchange rate stability  link