Eco
The Central Bank of Iraq affirmed on Saturday that the rise in dollar exchange rates witnessed in local markets is attributed to speculation and expectations, in addition to the exploitation of the geopolitical situation in the region. In a statement it issued, the Central Bank reassured that it possesses sufficient foreign reserves to meet all demands for hard currency. These demands include financing foreign trade, settling bank card transactions, and providing cash dollars for travelers at the official exchange rate. The bank clarified that this increase is a result of speculative practices and market expectations, as well as the misuse of regional circumstances to disrupt economic and financial conditions by parties benefiting from these fluctuations. The bank affirmed its continued financing of foreign trade through approved channels and purposes, to ensure the smooth flow of imports and meet the local market's requirements. It called on citizens to rely solely on official information issued by the bank, warning against unreliable news, and indicated that its official website is available for submitting complaints and inquiries.
