Representative statement after fears of raising the exchange rate of the dollar against the dinar again - urgent

by **claud39** Sat Jan 16, 2021 12:50 pm

Representative statement after fears of raising the exchange rate of the dollar against the dinar again - urgent

01/16/2021

Representative statement after fears of raising the exchange rate of the dollar against the dinar again - urgent 145388

Baghdad today -

Baghdad A member of the Parliamentary Finance Committee, Sherwan Mirza, confirmed today, Saturday, that the price of the dollar against the Iraqi dinar, which was mentioned in the 2021 budget bill, will be fixed for a year and cannot be tampered with.

Mirza said in an interview singled out (Baghdad Today), that "determining the exchange rate of the dollar from the authority of the Central Bank and the Ministry of Finance has nothing to do with the House of Representatives in that, and it does not have the authority not to increase or decrease it in the coming years."

He added that "the exchange rate of the dollar that was mentioned in the draft budget law, if the project is passed, the price will be fixed for a year at least and cannot be raised, contrary to what is stated in the budget."

And that "the current price has left many negative effects on the Iraqi citizen, therefore, if it is raised again, it will leave an economic disaster, especially for those with limited income."

Earlier, the reporter of the Finance Committee in the House of Representatives, Ahmed Al-Saffar, confirmed that determining the exchange rate of the dollar against the Iraqi dinar is the task of the central bank, while referring to Parliament's position on this policy.

Ahmed Al-Saffar said, in a televised interview that she followed (Baghdad Today), that "determining the exchange rate of the dollar is the task of the Central Bank, and it is the only one supervising the monetary system, the monetary mass, and the exchange rate, and we, as Parliament, have no right to interfere in the price."

Al-Saffar added, "Changing the price according to economic theory is politically feasible, but with conditions including the availability of a productive apparatus, agriculture and an active industry."

Before that, the prime minister's financial and economic advisor, Mazhar Muhammad Saleh, commented on the fluctuation of the dollar's exchange rate against the dinar in the Iraqi market.

In an interview with (Baghdad Today), Mazhar Muhammad Salih said, "The exchange rate of the dollar against the Iraqi dinar will stabilize in the market, according to what was approved by the Central Bank of Iraq after approving the budget," indicating that "the current instability comes due to the shock of the market from raising the exchange rate." According to the new monetary policy, which requires time to fully stabilize.

Saleh added,"The decrease in the central bank's sales of dollars includes something positive, as it will increase the reserves of the Central Bank of Iraq, and the decrease is a temporary issue that is not permanent, and the dollar will resell according to a specific ceiling as it was previously."

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