The Sudanese financial advisor reveals a surprise regarding the dollar: Watch for the decline
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the dollar exchange rates in the parallel market began to approach the official price set at 1,320 dinars per dollar after the recent measures taken by the Central Bank and the Iraqi government.
Saleh said in a press interview, “The high capabilities of Iraq’s currency reserves and the good management of directing them to finance foreign trade have resulted in a significant improvement in the exchange rate in the parallel market over the past period.”
He added, "The dollar exchange rates in the parallel market have begun to approach the official price, for reasons including the regularity of foreign trade for the private sector through the compliance platform, the Iraqi banks showing great flexibility in dealing with it to secure foreign transfers, and Iraq's openness to cash transfers, including electronic payment cards and importing foreign currency into...
The country regulates the financing of foreign trade in various currencies, including the euro and the UAE dirham.
He pointed out that "the measures taken by the Central Bank and the Iraqi government and the large cash reserves created a flexible market for foreign currency that contained the fluctuations of the parallel market," adding that "the dollar exchange rates continue to decline and are approaching the official price." link
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