Baghdad The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, confirmed that the exchange rate hike is a temporary situation.
A CBI’s statement said, “The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, conducted a field visit to a number of banks that started selling foreign currency.”
The statement added, “The governor urged, during his meeting with bank departments, to facilitate the procedures for selling foreign currency to citizens wishing to obtain it for the purposes of travel, treatment, and others,” noting that “the Central Bank of Iraq has taken a number of decisions that contribute to achieving stability in the foreign currency market.”
He stressed that “bank outlets for selling foreign currency will be doubled to meet the needs of travelers, with the possibility of increasing the amount of the weekly share allocated to banks.”
Mukhaif described that “the rise in the exchange rate is a temporary situation that came after internal and external effects of applying international standards, as the bank succeeded in addressing it and minimizing its effects on the Iraqi economy, stressing not to raise public concerns about the rise in dollar exchange rates, and the need to take deterrent measures against speculators.” stressing that “the situation of Iraq is much better than other countries, and there is no room for comparison with it.
Source: National Iraqi News Agency