KTFA
FRANK26: "MONETARY REFORM EDUCATION TEACHES CITIZENS ABOUT FOREIGN CURRENCY"......F26
Mechanism for publishing data on buying and selling foreign currencies
3/9/2025
The Central Bank of Iraq explains the mechanism for publishing data on the sale and purchase of foreign currencies from the daily bulletin to the monthly report, which will include:
- Total enhancement of bank balances abroad.
- Settlements of electronic payments abroad.
- Cash sales.
The bank confirms that this decision came in conjunction with the transition from the electronic platform mechanisms to the mechanisms for enhancing the balances of authorized Iraqi banks with correspondent banks, and that the process of enhancing banks does not reflect the daily sales of bank customers until the operations are actually realized.
It draws attention to the Central Bank of Iraq's possession of sufficient foreign reserves to meet all official requests for foreign currency, which enhances confidence in the national currency.
Noting that the report scheduled to be published next month will include details of external transfer operations
in terms of (amounts, the most prominent imported goods and materials, the most prominent countries from which they were imported.
Central Bank of Iraq
March 5, 2025
