The Finance Committee in Parliament believes that diversifying the sources of foreign currency used in commercial transactions is the best solution to tackle the problem of the growing demand for the dollar. This will also help create a parallel market for trading hard currency.
Atwan Al-Atwani, the head of the committee, stated that they have received a response from the Central Bank regarding their previous call to address the increasing demand for the dollar and to create a parallel market for selling hard currency. According to Al-Atwani, the response is a significant step towards the goal of restoring market stability.
He said that the Central Bank has taken significant steps to reduce the dominance of the dollar in foreign currency transactions. This includes opening up different windows to deal with other currencies, as well as adopting a clearing system for trade exchange with various countries. These measures have helped to strengthen the value of the Iraqi dinar and position it to be more competitive in the global marketplace.
During his speech, he emphasized the significance of this approach as a well-planned strategy and an effective solution to expand new opportunities that guarantee the simplification of commercial transaction procedures at different levels. He stated his complete endorsement for the measures taken by the Iraqi Central Bank.
During an interview, he emphasized that the Iraqi Central Bank is making steady progress in finding tangible solutions to the current crisis. He also expressed anticipation for further measures that will help restore stability to the market and resolve the issues of fluctuating exchange rates and the high demand for the dollar.
