Baghdad, The economic expert, Hammam Al-Shamaa, confirmed: The dollar exchange rate remains high due to the high prices of foreign remittances.

He told the National Iraqi News Agency / NINA /: “The difference between the official exchange rate and its price in the parallel market is due to the high prices of remittances outside Iraq due to the decrease in sales of the central bank.”

Al-Shamaa added: “The decrease in sales resulted from the restrictions placed by the US Federal Reserve on the external remittances of those who are called money laundering dealers.”

He explained: “The remittances rate abroad affects the parallel exchange rate, meaning that the demand for the dollar as a remittance is very high, which is reflected in the cash exchange rate at home.”

The exchange rate of the dollar is still high, exceeding 150,000 dinars per hundred dollars, in several numbers, despite the government’s announcement that the official exchange rate is 132,000 dinars.

Source: National Iraqi News Agency