According to the official spokesperson for the stock market in Sulaymaniyah, Kurdistan Region, the growing rise in the exchange rate of the dollar against the dinar reflects the Central Bank of Iraq’s lack of control over the country’s private banks.
Jabbar Gorran stated today at a press conference attended by Shafaq News Agency in Sulaymaniyah that the reasons for the rise in the price of the dollar are due to internal reasons represented by the statements of Iraqi officials, particularly the recent statements of the Central Bank of Iraq, as well as citizens’ fear and anxiety as a result of the current situation, in addition to external reasons represented by the general situation.
He went on to say that the dollar’s surge over the last five days demonstrates the Central Bank of Iraq’s lack of control over the activity of private banks, as well as the Iraqi citizen’s lack of faith in the local currency.
He noted that the Central Bank of Iraq did not reduce foreign currency pumping during this period, stating that the Iraqi situation is important to the American side and that all decisions now issued by the American Treasury are in the best interests of Iraq and must be followed.
Today, Tuesday, the price of the US dollar surpassed the 160,000 Iraqi dinar barrier in Baghdad and Erbil, Kurdistan’s capital.