Economic expert Nabil Al-Ali confirmed on Sunday that in order to stop the rise of the US dollar exchange rate, new diplomatic measures are necessary. He also pointed out the challenge of avoiding a decline in the exchange rate.
In a statement to “Al-Ma’louma,” Al-Ali pointed out that the Central Bank of Iraq is facing a significant challenge due to the continuous increase in the dollar exchange rate. The primary obstacle for the bank is finding an effective approach to address foreign trade transfers. Al-Ali emphasized that resolving these challenges would require diplomatic efforts to convince the US Federal Reserve to establish a specific value for commercial exchange..
“Granting travelers abroad an exchange of three thousand dollars at the official rate is incorrect and will not work,” he added, criticizing the Central Bank’s measures.
The economic expert urged the government to increase diplomatic efforts to obtain approval from the US Federal Reserve to open a financial transfer platform worth $30-40 million per day.
Washington continues to create crises and create chaos through its malicious cards that it uses from time to time, as America continues to obstruct Iraq’s progress through many files, most notably the dollar.
