The Parliamentary Finance Committee revealed the facts of the conversations between Iraq and America over the price of the dollar against the dinar today, Monday, while suggesting that the Central Bank of Iraq has established ways to manage the continuing rise in exchange rates.
Moeen Al-Kazemi, a member of the Finance Committee, told Al-Maalomah that “the Central Bank is making intensive efforts through its discussions with the US Federal Reserve to ease restrictions on Iraqi banks, as well as developing practical solutions to liberalize the Iraqi currency by opening outlets in most countries around the world for dealing.” In various foreign currencies instead of the dollar.
He went on to say, “The restrictions imposed by the US Federal Reserve and the failure to release Iraqi funds in dollars are behind political reasons for the purpose of its dominance over countries of the world, including Iraq.”
He went on to say that “Iraq receives approximately $10 billion monthly from selling oil, but it is deposited in the US Federal Reserve, which is constantly trying to obstruct its release.”
He went on to say, “The Central Bank has taken new measures by opening multiple outlets in countries around the world that deal in the currencies of the Chinese yuan, the Indian rupee, the European euro, and the Emirati dirham.”
It is worth noting that the US sanctions are causing alarm among Iraqis, especially because no amount of government or central bank intervention has succeeded in bringing the parallel currency rate closer to the official rate.