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AJ @ajsallen on x 8918 followers
Created: 2025-07-22 17:56:21 UTC
🔥👀Iraq’s Prime Minister’s financial advisor, Mazhar Mohammed Saleh, highlighted key factors driving economic stability and the strengthening of the Iraqi dinar against the parallel dollar market🎉 ✨A MUST READ The financial advisor pointed out that the decline in the value of the parallel dollar in favor of the strength of the Iraqi dinar, and the parallel exchange rate's creep 👈towards the official rate, are due to four main reasons: 1⃣The complete legal prohibition on the dollarization of domestic transactions, specifically in the real estate market, which is one of the strongest transactions; 2⃣ The transition to a policy of strengthening with foreign currency from strong international banks that correspond to national banks for the purposes of external transfers; 3⃣And the end of the Central Bank's (Auction) window since the beginning of this year. 👈This matter reduced the risks of compliance with large trade and other resorts to opaque financing with high costs and risks. He noted the entry of small importers into the official financing network and dealing with fixed and official exchange rates for the dinar upon direct transfer, as their foreign trade constitutes approximately XX% of the components of that trade. 4⃣ He also noted the development of the behavior of using electronic payment cards in foreign currency for travelers, as a culture that has expanded significantly over the past two years, instead of the pressure of demand for cash dollars alone. This comes with the ease with which travelers obtain a share of cash dollars through the country's airports, with highly compliant and easy-to-access controls.
🚩Saleh "The price defense policy is implemented through the spread of cooperatives for consumer goods and the construction basket, which finance their imports At the fixed official exchange rate of XXXXX dinars per dollar, it represents a comprehensive success for Iraqi economic policy, with its monetary, financial, and trade pillars, as part of the government's program.
🚩The PM financial advisor, Mazhar Mohammed Saleh, emphasized that any transparent process within the public finances will limit speculation and provide the market with an appropriate climate for making strategic investment decisions.
🚩Saleh explained that "annual government spending, as a demand force, constitutes approximately XX% of the gross domestic product, which means that the activity of the general budget is one of the strongest indicators of aggregate demand in promoting growth and stability in the national economy."
XXXXX engagements
Related Topics rates money parallel iraqi dinar financial planner