The Central Bank of Iraq decided, on Sunday, to increase the weekly sales of the US dollar in the currency auction, in an attempt to restore the exchange rate to its previous state.
According to a document issued by the bank, which was seen by Shafaq News agency, and addressed to mediation companies for the sale and purchase of foreign currencies, it stated, "Based on the objectives of this bank to achieve stability in the general level of prices and exchange rates and to meet the high demand for foreign currency in the local markets, it was decided to increase the weekly share for cash sales in dollars, starting tomorrow, Monday.
The bank affirmed its readiness to meet the needs of all citizens of foreign currencies according to the purposes allowed to be financed legally, in addition to financing electronic payment cards that are used in payment operations outside Iraq at an exchange rate of 1470 Iraqi dinars per dollar, while adhering to what was stated in the controls for selling foreign currency for the year 2021 as well as Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015.
According to the document, the bank determined the earnings of companies according to their classification, whereby category A companies receive one million and 800 thousand dollars per week, category B companies receive 750 thousand dollars per week, category companies receive 80 thousand dollars per week, and banks receive 200 thousand dollars per week.
So the rate has gone back to 1,473 to one U.S.dollar, not what we were hoping for. So we continue to wait. 14 years ago I would never have imagined that the R.V. Would take so long. We were told that it could not possibly take that long and yet the powers to be have proven to us that they can do what they please to block us out from this investment. My question is how much longer will they keep this from us?
