CBI determined to stabilize U.S. dollar exchange rate
The Governor of the Central Bank of Iraq Ali Al-Alaq. Photo: Iraqi News Agency
Baghdad (IraqiNews.com) – The Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, indicated on Wednesday that the CBI is determined to stabilize the exchange rate of the U.S. dollar, according to the Iraqi News Agency (INA).
Al-Alaq also confirmed that the electronic platform was found to protect the banking sector, and to avoid any penalties that could be imposed on parties carrying out money transfer operations, whether they were banks or others.
Al-Alaq explained that the electronic platform protects the banking sector from falling into any problems related to external financial transfers, and this serves all parties, INA reported.
Regarding the exchange rate of the U.S. dollar, Al-Alaq explained that the CBI’s responsibility is to maintain the same exchange rate of U.S. dollar inside and outside banks, INA clarified.
“We receive great support from all parties to achieve this goal,” Al-Alaq elaborated.
“Our discussions with the International Monetary Fund were very constructive, and we agreed on the programs that both directly or indirectly serve the accomplishment of this goal, INA added.