Economist: The Central Bank put solutions to stop the rise in the dollar exchange rate
8/12/2018

Economist Bassem Jameel Antoine said on Sunday that the central bank has put in place solutions to stop the rise in the dollar exchange rate, pointing out that the central bank has stopped remittances with Iran.

"The exchange rate of the dollar in the Iraqi market has increased recently, because some dollar is being delivered to Iran in cash across the border between the two countries, especially after the suspension of remittances between the two countries,"

Antoine said in a statement."The central bank has announced its commitment to the terms of the International Monetary Fund, to stop the remittances between Iraq and Iran, which will lead the private sector to buy the dollar in larger quantities than the former market, for trade exchange between the two countries.

"He explained that "the large demand on the dollar, will make the price rises from the former, which drives the central bank to pump large amounts of the dollar in order to reduce the exchange rate, taking advantage of the large abundance of the dollar in the country," asserting that "Iraq has about $ 12 billion dollars From Iran, but was affected by the US sanctions imposed on Tehran.

http://www.almaalomah.com/2018/08/12/334208/