The impact of monetary reforms on the exchange rate in Iraq for the period 2004-2022

The impact of monetary reforms on the exchange rate in Iraq Most of the economic literature indicates that economic reform is one of the basic components for advancing the reality of development and moving it to advanced points, and the issue of monetary reform is one of the basic pillars of the economic reform process, represented by the monetary measures practiced by the Central Bank towards achieving monetary balance at most levels, as it is an issue Monetary reform is an essential pillar for building confidence in the financial currency, and the measures taken by the Central Bank of Iraq after the year 2003 are among the most important reform measures, which are first represented by the issuance of the Central Bank Independence Law No. 56 of 2004, and the Central Bank of Iraq issuing the new currency that carries many advantages and working to Controlling and withdrawing the old currency from circulation, in addition to introducing the decision to sell foreign currency in the market, where the central bank enters the local market as a seller of foreign currency with the aim of controlling the exchange rates of the foreign currency against the local currency, which contributed to controlling these prices and making them Stable through the exchange policy managed by the Central Bank, and one of the most prominent findings of the research is, firstly, that the independence of the Central Bank of Iraq restored confidence in this institution internationally and gave the Central Bank an area of control over the market, and secondly, that there is a close relationship between the stability of foreign currency exchange rates (The dollar) against the local currency in the market for long periods, with the exception of some times of crisis when the emergence of terrorist gangs (ISIS) and the health crisis represented by the emergence of the Corona virus, which has disrupted the economy globally, and among the most prominent recommendations is the continuation of the central bank in monetary measures that contribute first to controlling the exchange market. Secondly, controlling local banking performance to increase confidence in these institutions