Relative Stability in Local Markets Amid Continued Central Bank Measures

The Iraqi street is witnessing a state of cautious optimism with signs of stabilizing dollar exchange rates in local markets, resulting from the Central Bank's strict policies in pursuing currency manipulators. Traders in the Shorja market confirmed that the supply of foreign currency has begun to improve gradually, which has reflected positively on the prices of food and construction materials. Sources explained that the Central Bank is currently working on automating all financial operations to ensure that the dollar reaches genuine beneficiaries among traders and importers. Observers believe that continued stability will strengthen the purchasing power of the Iraqi Dinar and protect the poor from inflation, pointing to the need to support local products to reduce the need for foreign currency in importing goods that can be produced domestically.