The Central Bank announces that the rate of trade use of the dollar platform has increased by 95%

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced an increase in the percentage of merchants using the electronic dollar selling platform, indicating that the high demand by travelers for the dollar is what increases pressure on the market.

Al-Alaq said in an interview with the official agency followed by “Al-Maalouma” that “the electronic platform witnessed many difficulties at the beginning of its work that led to the reluctance of some to enter into it,” indicating that “the implementation rate in the electronic platform has now increased from 20 percent to 95 percent, and this gave We are reassured that accessing the platform provides speed and safety.”

He added, “Entering the electronic platform in the external transfer process saves all parties from the risks of being exposed to local and international sanctions.”

Al-Alaq stated that “90% of the Central Bank’s sales are for the purposes of remittances and external transfers, and they are proceeding smoothly and at the official price (1320), but the problem lies in the cash side, which represents 10% of internal daily sales.”

He pointed out that “the ten percent rate is sufficient to meet the needs of travelers, but some are trying to dominate by withdrawing the amount allocated to travelers, which creates pressure and an increase in the cash price, and these parties have been identified as carrying out illegal and criminal operations.”

Al-Alaq warned of “some merchants who cannot work in an organized atmosphere, and are looking for chaos, and that the Central Bank is working to surround this challenge in coordination with the government to besiege these groups that are being diagnosed and followed up.”