A parliamentarian reveals the date of the decline in the dollar exchange rate
A parliamentarian reveals the date of the decline in the dollar exchange rate
12-17-2022
Information / special.
Today, Saturday, a member of the House of Representatives, Baqir Kazem, revealed the new measures taken by the Central Bank in order to reduce the exchange rate in the local markets, while stressing that the rise in the price of the dollar will decrease within a month from now.
Kazem said in an interview with “The Information” that “the central bank is working to form a new appropriation department for the import of goods in order to control the parties that used to monopolize the dollar in the local markets,” noting that “these measures came after the escalation of smuggling operations in the previous period, which led to to the height it is now.
And he continued, “The high exchange rate these days will not last more than a month after the new procedures that are being implemented by the Central Bank,” noting that “the latter will work to sell the dollar to merchants in the circle of new credits, at subsidized prices, directly.”
He noted that “the reason for the increase is that many merchants transfer millions of dollars to money exchangers and fake companies working to smuggle it out of Iraq,” stressing that “the exchange rate after the new procedures will settle at 146,000 Iraqi dinars for 100 dollars.”
The Prime Minister called for “opening the file of the currency auction, the exchange rate and the state of chaos in the markets within the agenda of the next cabinet session and taking immediate and urgent measures to address this file, which has become an unacceptable door to corruption and waste of public money.”
The Finance Committee in the House of Representatives attributed earlier the reasons for the high price of the dollar against the Iraqi dinar to the pressure exerted by the US Federal Bank on the Central Bank of Iraq.
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