A parliamentarian talks about changing the exchange rate of the dollar against the dinar

A parliamentarian talks about changing the exchange rate of the dollar against the dinar

2021-08-18 | 11:38

A parliamentarian talks about changing the exchange rate of the dollar against the dinarA member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Wednesday, that the exchange rate of the dollar against the dinar is the exclusive prerogative of the Central Bank of Iraq and the House of Representatives and the Finance Committee have nothing to do with this matter, while noting that it is premature to talk about this matter for the next five years.
Cougar said in an interview with Alsumaria News, “Determining the exchange rate of the dollar against the dinar is not within the authority of the Finance Committee, not even the House of Representatives or even the Federal Ministry of Finance, and therefore any statements that talk about the exchange rate and the duration of its work, we do not believe that they are accurate or appropriate.” Noting that “the authority to change the exchange rate is limited to the Central Bank of Iraq, which is primarily responsible for monetary policy in the country.”

Cougar added, “The Finance Committee did not hold any session or meeting to discuss the issue of the dollar exchange rate during the previous period,” noting that “it is premature to talk about the exchange rate of the dollar against the dinar for the next five years, as it depends on the vision and appreciation of the Central Bank, what It means that it is not correct to talk about this matter or to attribute it to the Parliamentary Finance Committee in any way.”

And one of the members of the Parliamentary Finance Committee, indicated in press statements, that the exchange rate will remain in place during the next period for the next five years, describing that the real value of the Iraqi dinar is determined through the exchange of the dollar against the dinar in addition to the purchasing power of the Iraqi dinar and the resulting goods and services net over a period of time.

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