INFORMATION Office: Iraq's financial situation at its best

INFORMATION Office: Iraq's financial situation at its best

Shafaq News / On Thursday, the Iraqi government confirmed that it is committed to allowing exchange rates to adjust to the stronger dollar against the Iraqi dinar.

"The exchange-rate appreciation is temporary due to the change in the mechanism of the Central Bank (of Iraq) for making foreign currency operations," the Prime Minister's Information Office said in a statement.

The Office assured all citizens that "Iraq's financial situation at best."

Earlier today, CBI explained that the recent "slight" rise of the U.S. dollar (USD) exchange rate against the Iraqi dinar is a product of "administrative and monitoring" inconveniences that will be resolved soon.

The bank said in a press release that it proceeded with building a platform to organize and scrutinize forex transactions in cooperation with an international firm.

According to the readout, the new platform experiences some errors --that the bank promptly rectifies-- which delays the process of approving and passing transactions into the global market.

"The current supply of the foreign currency is dictated by administrative and monitoring measures, not by its availability," the press release said, stressing that the inconveniences leading to the higher exchange rate of the U.S. dollar against the Iraqi dinar will be resolved soon.

The U.S. dollar (USD) exchange transactions against the Iraqi dinar (IQD) remained the same in Baghdad but climbed in Erbil today, Thursday.

Shafaq News Agency correspondent said that the USD closed at a rate of 151800 IQD to 100 in al-Kifah and al-Harithiya Central Exchanges.

The selling and buying rates of the USD in Baghdad's parallel markets settled at 152250 and 151250 IQD for 100 USD, respectively.

In Erbil, the USD selling and buying rates closed higher at 152000 and 151900 IQD to 100

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