STRENGTHENING MONETARY SOVEREIGNTY IN IRAQ… CHAOS IN CURRENCY MARKETS AND ACCUSATIONS OF MANIPULATION
Local markets in Iraq are witnessing a state of turmoil as a result of measures to strengthen monetary sovereignty, as dealing in the dollar is abandoned and the Iraqi dinar is adopted in daily financial transactions, as a large difference appears between the official and parallel prices, which raises tension in the markets.
In this context, a member of the Parliamentary Economics Committee in Iraq, Soran Omar, accused influential parties of being behind the manipulation of the exchange rate.
He pointed out that the government was unable to radically control the exchange rate, and that the measures taken to reduce it are still having limited impact.
He added that the ongoing smuggling and money laundering through some banks and money changers is working to complicate the situation, noting the continuation of the Central Bank’s measures in this context.