Mawazine News – Baghdad
The Finance Committee in Parliament considered that diversifying the sources of foreign currency adoption in commercial transactions is the only way to address the problem of the growing demand for the dollar and create a parallel market for the sale of hard currency.
“The central bank’s response to our previous call on addressing the problem of growing demand for the dollar, and creating a parallel market for the sale of hard currency, has come a long way in the task of stabilizing the market,” committee chairman Atwan Atwan al-Awani said in a statement received by Mawazine News.
He added, “Through the initiation of opening various foreign currency exchanges and the adoption of the (clearing) system in the trade exchange with various countries, the Central Bank “has come a long way in getting rid of the dominance of the (dollar) and strengthening the strength of the Iraqi dinar and its entry on the line of global trade transactions.”
He stressed “the importance of this trend as a viable solution and a deliberate strategy to open new horizons that ensure the facilitation of trade transactions procedures at various levels,” re-stressing “full support for the steps of the Iraqi Central Bank.”
He stressed that the Central Bank of Iraq “is moving steadily towards the real treatments of the crisis, looking forward to other steps, restoring stability to the market and ending the problem of fluctuation of exchange rates and increasing demand for the dollar.”
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