A parliamentarian for al-Maliki’s coalition: The dollar exchange rate can only be changed in one case
A parliamentarian for al-Maliki’s coalition: The dollar exchange rate can only be changed in one case
2022-02-21 07:57
Shafaq News/ A deputy in the Iraqi parliament from the State of Law coalition led by Nuri al-Maliki reported on Monday that the exchange rate of the dollar against the Iraqi dinar is fixed and can only be changed through the federal budget law.
Alia Nassif told Shafaq News Agency, “Members of Parliament demanded, in last Saturday’s meeting, the governor of the Central Bank, the necessity of reducing the exchange rate of the dollar against the dollar and maintaining its stability by following up on the economic committees that were formed during the meeting.”
He added that “the exchange rate of the dollar against the dinar is fixed at the present time and cannot be changed,” noting that “any decision taken to reduce or return the exchange rate is through the Federal Budget Law.”
And in late 2020, the Central Bank of Iraq decided to reduce the value of the local dinar against the dollar from 1190 dinars to the dollar to 1450 dinars, to contain a financial crisis that Baghdad was suffering from as a result of a significant decline in oil prices due to the repercussions of the Corona pandemic.
The decision caused prices to rise in local markets by more than 20%, which negatively affected people with low incomes and the middle class.
shafaq.com
