“1400 dinars to the dollar” .. The Iraqi Central Bank sends a new study to the government

“1400 dinars to the dollar” .. The Iraqi Central Bank sends a new study to the government

2023-02-06 06:05

1400 dinars to the dollar .. The Iraqi Central Bank sends a new study to the governmentShafaq News/ An official government source revealed, on Monday, that the Central Bank of Iraq is preparing a study to reduce the price of the dollar against the dinar, to bring it closer to the official price.

The source told Shafaq News agency, “There is a study prepared by the Central Bank to reduce the exchange rate of the dollar in the market, and it will be close to the official price set by the bank in the currency auction window.”

And that “there are several proposals, including reducing the exchange rate of the dollar to 1400 dinars per dollar,” adding, “But this is a study and not an official decision.”

He concluded by saying, “This study was submitted by the Central Bank to the Prime Minister, and it will be discussed in the coming days.”

In turn, the Board of Directors of the Central Bank of Iraq announced, in a brief notice received by Shafaq News agency, that it had submitted to the Prime Ministry the results of its study regarding adjusting the official exchange rate for the dollar.

Since the first month of the new government taking over the administration of the country, the exchange rate of the US dollar against the Iraqi dinar has witnessed an upward rise, to exceed 1,500 dinars per dollar before the end of last year.

Since the beginning of this year, the exchange rate of the dollar has witnessed sudden jumps, as it crossed the threshold of 1,600 dinars to the dollar, and it remained fluctuating during the month of last January in the square of 1,600, but during the month of February, the dollar crossed the barrier of 1,700 dinars, and in some days it approached 1,800 dinars per dollar.

These booms and fluctuations prompted the government and the Central Bank of Iraq to take several measures in an attempt to control the exchange rate, but they have not achieved anything so far, while some say that the dollar exchange rate may continue with this rise.

shafaq.com