Exchanging dollars in banks is a practical approach to achieve stability in the exchange market, says PM advisor

 
 
Baghdad-INA
 
The financial advisor to the Prime Minister, Mudhar Muhammad Salih, confirmed on Saturday, that applying the mechanism for selling dollars in banks is a correct practical approach to achieving stability in the exchange market, pointing out that the monetary policy of the Central Bank of Iraq-CBI continues to provide options as well to achieve this goal.
 
"The new procedures in providing wide and multiple official outlets for exchanging dollar cash through the government banking system, with an increase in the allocation for one person to 5 thousand instead of 3 thousand dollars, up to 10 thousand dollars, represent a correct option to achieve stability in the exchange market," Saleh told the Iraqi News Agency (INA).
 
He added, "The followed procedures provide the cash dollar through available, fair and equal opportunities for the beneficiaries, and make it available directly to the groups that need it for the purposes of travel and treatment outside the country."
 
Salih pointed out that "This trend in the exchange market is a positive expansion in transforming the dollar cash market into a flexible market that enjoys a high degree of competitiveness, governance, and discipline at the same time," noting that "the monetary policy of CBI is a constant and continuous policy in providing other additional options for foreign currency supply, which will contribute continuously to the stability of the exchange market.
 
He also affirmed that "This move ensures at the same time maintaining the stability of the general level of prices, which is the ultimate goal of monetary policy in the country."