Mazhar Muhammad Saleh, the Prime Minister’s financial advisor, said that commercial bank financing stability was to blame for the relative stability of the dollar exchange rate in the parallel market.
Bank financing of foreign trade for the private sector, which has begun to rely on stable official exchange rates on a large scale and is more flexible, contributes to the stability of dollar exchange rates in the parallel market.
That’s what he noticed “the interest for unfamiliar cash for the reasons for funding the country’s unfamiliar exchange, with respect to the confidential area, is today upheld by enormous unfamiliar money holds, which are the most elevated in the cutting edge financial history of Iraq, which today contact roughly 111 billion bucks.”
Saleh focused on that “those high unfamiliar cash saves demonstrate the country’s yearly exchange proficiency of over 16 months of import essentially contrasted with the worldwide norm for the exchange productivity of unfamiliar stores, which is set at around 90 days.”
