Parliamentary Finance reveals the reason for the high exchange rate of the dollar in Iraq

Parliamentary Finance reveals the reason for the high exchange rate of the dollar in Iraq

Sunday 30 May 2021 | 01:08 PM

Parliamentary Finance reveals the reason for the high exchange rate of the dollar in IraqOn Sunday (May 30, 2021) the Parliamentary Finance Committee revealed the reason for the high exchange rate of the dollar against the Iraqi dinar in banking .

Committee member Jamal Cougar said, “This increase is normal, because the Ministry of Finance sells dollars to the Central Bank of Iraq for (1450), and the Central Bank sells to (42) banks by adding (10) numbers, and these banks sell to local banks also with an addition of (10) ) Numbers, and then the circulation between the citizen and the local exchange, adding some numbers to them, and this is why we find that the increase is normal . ”

Cougar believed that “the great fear of a large increase in the exchange rates of the dollar against the Iraqi dinar is not true, and it is very unlikely, especially because there is control by the competent government agencies over the exchange rate in the Iraqi markets, and that is why there is no fear of any significant rise in the Dollar exchange rates . ”

It is noteworthy that the exchange rates of the dollar increased slightly during the past days, approaching 150 thousand dinars per 100 US dollars, despite the Iraqi Central Bank specifying 11450 dinars per dollar, or 145 thousand dinars per 100 dollars.

aynaliraqnews.com