Mawazine News – Baghdad
Central Bank Governor Ali Mohsen Al-Alaq revealed on Sunday the reasons for the fluctuation of dollar prices, noting that 85% of remittances do not pass through the US federal.
A statement by the Media Department of Parliament received by (Mawazine News) said that “the Governor of the Central Bank provided a full briefing on the reasons for the exchange rate fluctuation, the mechanism of the electronic platform and its role in controlling internal and external trade, as well as the file of the housing initiative, the US sanctions on Iraqi banks, and the status of cash reserves of hard currencies with the Central Bank.” Al-Alaq explained, according to the statement, that “Iraq’s hard currency reserve is enough to create balance in the market,” noting that “the Central Bank sells more than 250 million dollars a day to meet the requirements of foreign trade.”
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