Today, Wednesday, Member of Parliament Ali Al-Jamali revealed an American plan to prolong the dollar crisis in Iraq, while emphasizing that Washington’s recent measures prohibiting Iraqi banks from auctioning currency sales worked to impose control of Arab countries’ banks over the dollar.
Al-Jamali told the Maalouma Agency that “The five banks affiliated with the Arab countries are working to blackmail the Iraqi merchant in the process of buying the dollar in order to manage trade and import affairs,” pointing out that “the suspension of the Iraqi banks was deliberate in order to weaken the Iraqi dinar against the American dollar.” .
He went on to say, “These banks are working to buy the dollar from the electronic platform of the Central Bank at the official price and sell it in the parallel market,” noting that “the continuation of the crisis of the difference in the official exchange rate from the parallel occurs as a result of the measures that work to weaken the dinar against the dollar.”
Al-Jamali ended his remarks by stating: “The banks earn double the wages because they take at the official price and sell in the parallel market,” stating that “the recent measures issued by Washington to ban Iraqi banks from the currency auction work to impose the control of the branches of Arab countries’ banks inside Iraq.”
During the current time, American policies have decimated the Iraqi currency by putting sanctions on Iraqi institutions and prohibiting the use of the dollar under various pretexts, resulting in a major financial crisis in Iraqi markets. Earlier, the US Treasury agreed to suspend transactions by 14 Iraqi banks. Trading and selling hard money prompted local market dollar exchange rates to surge.