Moein Al-Kadhimi, a member of the Finance Committee in the Iraqi Parliament, confirmed on Monday that the government and the Central Bank have taken several important measures to address security and economic challenges in the country, especially amid the deteriorating situation in Syria.

Al-Kadhimi told Shafaq News Agency that the situation in Syria does not affect the Iraqi economy or the exchange rate of the dollar in the local market.

He added that the exchange rate of the dollar in the parallel market is currently stable, noting that the government is working to reduce the gap between the parallel exchange rate and the official rate to achieve greater economic stability.

Currency markets, especially in the Kurdistan Region, have seen notable changes with the "sudden" rise in the value of the Syrian pound against the Iraqi dinar.

Following the fall of Bashar al-Assad's regime, the Syrian pound continues to recover against other currencies, especially the U.S. dollar, which has declined by about 18 to 20% in recent days.