Iraq .. The Central Bank undertakes to determine the exchange rate of the dollar

A deputy from the Saeron bloc revealed the commitment of the Central Bank of Iraq to determine the exchange rate of the dollar against the Iraqi dinar.
The World - Iraq

Riyadh Al-Masoudi said in a televised interview, that the Central Bank pledged to maintain the exchange rate at the limits of 121 or 122 thousand dinars for 100 dollars, but there are those who speculate politically and economically in order to confuse the financial situation in Iraq and harm its currency, and there are financial crises in Syria, Turkey and Iraq affected by this matter.


He added, that Iraq is losing between 3-5 billion dollars annually due to the continuous currency auction every day, and this waste must stop with practical measures, "calling" for practical steps to be taken to prevent manipulation of the exchange rate.

He explained that borrowing to finance salaries will harm future generations, and the government must speed up financial reforms without going for difficult solutions. The white paper is one of the solutions to the crisis, and the government must speed up its procedures.

He stressed that the government should implement action plans by organizing the payroll and special grades and maximizing the state's non-oil revenues.

The economist, Majid Al-Suri, had earlier warned of a move to raise the value of the dollar’s ​​exchange rate at the expense of the Iraqi dinar, because it would affect those with limited incomes and the classes of the poor.

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The bank indicated that its foreign currency reserves are very good, stressing that it is able to overcome the current crisis that the country is going through .

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The bank said in a statement quoted by the channel "Alsumaria News", the statements that have sprung up recently regarding the reduction of the Iraqi dinar exchange rate against the dollar represents the point of view of the stated by and do not represent the official position of the Central Bank, was accompanied by a number of rumors launched by speculators , which impact On the price temporarily.

He added that "the exchange rate is fixed and has not changed, and that its monetary policy is clear and transparent, knowing that its foreign currency reserves are very good, according to all international indicators and in a way that enables it to overcome the current crisis the country is going through."

The Central Bank called on the media to "exclusively approve the sources of the Central Bank in this regard."

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