THE NEW DINAR RATE

by **TLF** Wed May 15, 2013 8:12 pm

Calls to Address Dinar Rate Fluctuation

Posted on 15 May 2013. Tags: dinar, forex, IQD, iraqi dinar

By John Lee.

The First Deputy Chairman of the parliament has reportedly demanded that the Central Bank of Iraq address the fluctuating exchange rate of the Iraqi dinar against the US dollar, and disclose the reasons.

Shafaaq News says that Qusay al-Suhai chaired a meeting of
the Finance Committee, in the presence of central bank governor Abdul
Basit Turki, in which he stressed the need to identify procedures taken
by the management of the central bank to deal with the fluctuation of
the exchange rate.

He said it was important to know the real reasons that led to this instability, “which will negatively affect the lives of the Iraqi individual”.

On Sunday, the Presidency of the parliament announced its full
support for the actions that the central bank intends to take to ensure
the stability of the Iraqi currency, following what it describes as its
decline to the lowest level in two years.

The value of the Iraqi dinar has declined gradually over the past
weeks to reach the per dollar price to about 1129 dinars after it was
stable at 1120, which is the highest rate the exchange rate reaches
during the past two years.