Haider Ghazi, the media officer for the Central Bank of Iraq, confirmed that there has been no change in the official exchange rate of the US dollar against the Iraqi dinar, which remains fixed at 1,320 dinars per dollar. He explained that the exchange rate currently being circulated reflects the demand for dollars in the unofficial market, outside the banking system authorized to conduct international transfers through correspondent banks.
In a statement published in the official newspaper, Ghazi attributed the rise in the parallel market rate primarily to customs duties imposed due to demand outside the banking system. He noted that the application of these pre-transfer customs duties may have significantly pressured those seeking cash dollars, thus driving up demand for the dollar against the dinar in local markets.
He explained that traders are required to bring the customs declaration (customs statement) from the ASYCUDA system before the bank transfer is made to them, adding that on many occasions the Central Bank of Iraq stated that the ways to obtain dollars are through: First, external transfers through banks in a systematic and documented manner with all parties, and second, through the traveler's dollar after depositing an amount in Iraqi dinars with companies of categories A and B, and it is received through outlets inside Iraqi airports, as the bank set the traveler's share per month at $3,000.
Central Bank: The dollar is stable at 1320 dinars, and the rise in the parallel market is due to demand outside banks.
