Central Bank official: There is no return to the previous dollar exchange rate

by **RamblerNash** Tue Mar 30, 2021 9:27 pm

Tuesday 30, March 2021 17:49

Baghdad / NINA / The Central Bank of Iraq confirmed that there is no return to the previous exchange rate of the dollar against the dinar, and the price will not be reduced under any circumstances, and indicated that there is no intention to raise the price from 145 thousand per 100 dollars.

"The current price of the dollar is very reasonable and the bank has settled on it, and any decision to reduce it means that we are heading towards an economic massacre," said Ihssan Shamran, director of the bank's accounting department, in a press statement.

And the Central Bank called for "ending" what it called "the polemics calling for the return of the previous price," noting that "this matter is not based on any economic vision, despite the sound intentions of those demanding that."

Shamran, an advisor to the central bank governor, considered that "the process of raising the dollar against the dinar was long overdue because this matter contributed to protecting the domestic product, in addition to that the lifting process increased the financial costs of exporting countries to Iraq by 22%, which contributes to increasing competition between the imported product and the producer." the local".

He added that "suspicions of money laundering also ended with the raising of the dollar, and this is one of the most important benefits that Iraq obtained as a result of the process of changing the exchange process."

The Director of the Accounting Department at the Central Bank revealed, "The public finances obtained about 10 trillion dinars as a result of the process of raising the exchange rate of the dollar against the dinar, and therefore it is now assumed that the Ministry of Finance should allocate about 20-30% of the amount collected (10 trillion) for the purpose of distributing it to Citizens who are within the poverty line, whose number is about ten million citizens, as financial grants, and this is part of the Central Bank's understandings with the Ministry regarding the process of changing the currency exchange rate. / End 5

https://ninanews.com/Website/News/Details?key=896213