Abdul Rahman Al-Mashhadani, a financial and economic expert, projected on Thursday that the dollar exchange rate will fall further to 145,000 Iraqi dinars for $100, citing actions implemented by the Central Bank of Iraq in collaboration with the Federal Reserve Bank.
Al-Mashhadani said in an interview with Shafaq “The meeting that took place in the city of Abu Dhabi in the United Arab Emirates, and allowing 10 banks to carry out transfer operations directly through correspondent banks and with scrutiny from the American banks JP Morgan and Citibank and the Central Bank will only undertake the task of enhancing the balance will facilitate the process.” Passing the transfers as soon as feasible because this process does not take long.
“The American banks JP Morgan and Citibank are charged with additional auditing of transfers in conjunction with the Federal Reserve Bank’s audit,” he continued. This will make the transfer arrive as soon as feasible because it will most likely be done through correspondent banks having agreements with Iraqi banks.”
Al-Mashhadani, on the other hand, stated that the Central Bank “allowed banks to import and bring remittances belonging to foreign companies, international organizations, and diplomatic missions operating in Iraq through Iraqi banks, meaning that these are companies that have bank accounts in Iraqi banks, so these banks are allowed to bring remittances to these companies,” noting that “Last night, a shipment worth 100 million dollars entered, and it is the first shipment me.