Firm Banking Measures to Regulate Dollar Movement in Local Exchanges

New instructions from the Central Bank of Iraq have entered into effect to regulate foreign currency trading, as inspection teams began monitoring exchange companies and banks to ensure compliance with the official rate. The government spokesperson emphasized that the state will not allow speculators to threaten the country's economic security, noting that legal measures will apply to anyone attempting price manipulation. In contrast, the electronic platform witnessed an increase in daily sales volume to cover genuine importers' requests, leading to relative calm in the markets. Analysts believe this iron grip will narrow the gap between official and parallel rates, strengthening the national currency's value and granting the commercial sector the stability necessary for future planning and external deal-making with confidence and security.