Central Bank Governor Ali Al-Alaq spoke about the dollar exchange rate and foreign remittances.
Al-Alaq said in a statement received on the sidelines of his hosting in the House of Representatives that “our foreign currency reserves are sufficient to create balance in the market,” indicating that “the Central Bank sells more than 250 million dollars daily to meet the requirements of foreign trade.”
He added, “85 percent of foreign transfers are currently taking place between Iraqi banks and correspondent banks without going through the US Federal Reserve,” explaining that “the housing initiative is of great importance to the bank.”
He pointed out that “the volume of loans granted within the real estate initiative amounts to 10 trillion dinars,” explaining that “the Central Bank is now heading to cover the financing of the construction of 32 thousand housing units.”
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