Mosul currency exchange firms demand access to Iraq's dollar auction

Shafaq News/ The Association of Currency Exchange Companies in Mosul on Saturday called on Iraqi authorities and the Central Bank to allow firms in Nineveh to access the central bank's dollar auction, enabling them to buy US dollars at the official exchange rate.

Abdullah Khalil, head of the association, told Shafaq News Agency that the exclusion of Nineveh’s exchange companies from the auction has strained the local economy.

"The ongoing denial of access to the dollar auction has deprived Nineveh of obtaining dollars at the Central Bank’s rate, negatively impacting the economic situation," Khalil said.

Khalil noted that, despite fulfilling all of the central bank’s requirements over a year ago, currency firms in the governorate have not yet been granted the necessary code to participate in the auction.

He said Mosul traders are forced to buy goods from Baghdad rather than importing them directly, due to their inability to access US dollars at the official rate of 1,300 dinars per dollar. He added that the lack of access to dollar-based transfers has also forced residents to conduct transactions through other governorates.

Khalil urged the Iraqi authorities to grant Nineveh’s firms equal access to the dollar auction, similar to other provinces, to help stabilize the local economy.