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Planning depends on the previous exchange rate of the dollar for one purpose
Shafaq News / The Iraqi Ministry of Planning announced on Tuesday that it will adopt the previous exchange rate for the dollar for mathematical purposes related to investment projects exclusively until the end of this year.
The Undersecretary of the Ministry of Planning, Maher Hammad Johan, said, in a statement received by Shafaq News, that "the ministry had previously approved the new exchange rate approved by the Central Bank for the purpose of foreign currency appropriations for projects in the general budget at the beginning of December."
He pointed out, "The agreement with the Ministry of Finance, at its request, to adopt the previous exchange rate (1182) dinars to one dollar, until the end of the year, for accounting purposes related to investment projects, their restrictions and their calculation with government agencies at the previous prices of the dollar."
Johan added, "The adoption of the aforementioned exchange rate is for the purposes of investment projects, until the end of this year, while the new exchange rate will be adopted at the beginning of 2021."
He pointed out that "the Ministry of Planning is now working to present a study on the effect of the exchange rate difference on investment projects to ensure their implementation."
The Iraqi Central Bank decided last week to reduce the value of the local operation to 1445 dinars per dollar, with the aim of providing liquidity to reduce the stifling financial crisis.
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