Association of Private Banks: The Iraqi dinar is recovering and will return strong and stable

Association of Private Banks: The Iraqi dinar is recovering and will return strong and stable

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 dinar is recovering and will return strong and stable.

The Association’s advisor, Samir Al-Nusairi, told the Iraqi News Agency (INA): “Our dinar is recovering and returning strong and stable,” stressing that “with a close eye on the reality of monetary policy applications and procedures of the Central Bank and its careful follow-up of the foreign currency market situation locally and abroad, and facilitating access mechanisms to the electronic platform for external transfer and application of standards.” And the commitment of banks to implement the new external transfer instructions for the year 2023 and address the obstacles first led to the refutation of the extremist and pessimistic views that say that the crisis will continue, and our situation will be like the case of Lebanon, Iran, Syria and Turkey when it counts The dollar is the local currency of these countries.

Al-Nusairi added, "Through our accurate knowledge of the monetary situation of the Central Bank and its escalating reserves of foreign exchange, its balance exceeded 110 billion dollars, which covers up to 118% of the exported local currency and 130 tons of gold, and what is available continuously and daily in dollar revenues from oil sales in addition to its assets in the national currency."