Iraqi Central Bank: The low price of oil has nothing to do with the high dollar exchange rates, 19 SEPT

 Mawazine News – Economy

The Governor of the Central Bank of Iraq, Ali Al-Alak, announced on Wednesday that all remittances would be subject to audits, while pointing out that the decline in oil prices has nothing to do with the rise in exchange.
According to the official agency, Al-Alak said that “the Central Bank provides the dollar at the official price for all commercial and personal channels, travelers and for all types of operations that represent legitimate activities, operations and requests.”

He pointed out that “any price outside the country is a price that is only indicated for the existence of abnormal operations that try to get out of the official and legal system and the correct fundamentalist channels,” stressing the need to “focus on the amount of sale made by the central bank at the official price and the demanders of the dollar, whether they are traders, importers, individuals or travelers.”

He pointed out that “ways have been put in place for each channel that ensures the provision of dollar on the one hand and a very large amount of control to verify the integrity of previous operations before their implementation,” pointing out that “this is a major shift in external transfers, as they were previously being scrutinized at a later stage, and today all transfers are not carried out and are not carried out until after they undergo the audit process.”
He pointed out that “the decline in the price of oil has nothing to do with the rise in the exchange rate because Iraq has reserves for foreign currencies, which enables it to defend the exchange rate.”

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