Parliamentary finance reveals a surprising reason for the dollar’s rise
Parliamentary finance reveals a surprising reason for the dollar’s rise
12/14/2020 16:22:54
{Baghdad: Al Furat News} The Parliamentary Finance Committee revealed the reason for the high exchange rate of the dollar against the Iraqi dinar in the country today.
“The government wants to gradually raise the exchange rate to reduce the budget deficit, but this rise is borne by the citizen,” said Jamal Cougar, a member of the committee.
Cougar ruled out the government taking any action as this rise is “a direction”.
It is noteworthy that the dollar exchange rate has jumped in Iraq continuously since Monday morning and reached 1300 dinars in Baghdad, or 130 thousand dinars for one hundred dollars, amid expectations of a further rise.
A member of the Parliamentary Finance Committee, Muhammad Al-Darraji, held the Central Bank of Iraq responsible for the losses of the currency auction.
Al-Darraji said in a tweet on Twitter: “Today the Central Bank’s sales are $ 230 million – the difference in the selling price between the bank and the market is 110 dinars per dollar, meaning 25 billion dinars profit in one day!”
He added, “It is assumed that any change in the exchange rate must be through the central bank in order for the state and the citizen to benefit from it, and not through currency dealers so that they and those behind them profit” with this difference in the exchange rate between the bank auction and the local market.
alforatnews.com
