Baghdad: The Central Bank of Iraq confirmed that foreign reserves are sufficient to meet all demands for foreign currency related to financing foreign trade, settling bank card transactions, and fulfilling travelers’ requests for cash dollars at the approved official exchange rate.

According to National Iraqi News Agency, the Bank indicated that the rise in the exchange rate in local markets is attributable to market speculation, expectations, and the exploitation of geopolitical conditions in the region by certain parties who benefit from the situation to disrupt economic and financial stability.

The Bank added, “We continue to finance foreign trade through approved purposes and channels, ensuring the smooth flow of imports and meeting the needs of the local market.”

The Bank urged citizens to “rely exclusively on official information and data issued by the Bank, and not to be swayed by news or information circulating via unreliable sources. In the event of any violations or inquiries, citizens may submit complaints and reports through the official website of the Central Bank of Iraq.”