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Saleh confirms Iraq's monetary sovereignty and reduces the effects of speculation in the parallel market
3/5/2024
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, ruled out any effects on the exchange market due to “speculation” of the dollar in the parallel market.
Saleh told Al-Furat News Agency, “The effects on the exchange market no longer represent the real price operations of the basic market forces.”
He stated, “Parallel market operations are nothing but illegal speculative acts that profit from accidental profits on individual or marginal transactions and are undertaken by forces of speculators working against the law. This irregular parallel market has become isolated from the power of the official or regular market since the end of the legalization of economic transactions and the prohibition of... Any transactions in dollars in clearing debts within the national economy between natural and legal persons, as today any internal contracts, transactions or obligations concluded in foreign currency and denominated in a currency other than the national currency are not legally valid.”
Saleh noted that "this confirms the monetary sovereignty of our country through the stability of the national currency and dealing in it alone without the participation of foreign currencies in internal economic operations."
Raghad Dahham
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