Al-Saadi: There is no decision to raise the exchange rate at present… but financial pressures may bring the issue back to the forefront.
Al-Saadi: There is no decision to raise the exchange rate at present… but financial pressures may bring the issue back to the forefront.
9-22-2026
Information/Baghdad..
Former MP Baqir al-Saadi confirmed on Tuesday that there is no government decision to raise the official dollar exchange rate, noting that economic and financial pressures and the nature of the current stage may lead to a reconsideration of this course in the coming period.
Al-Saadi explained in his interview with Al-Maalouma that “speculation in the parallel market is behind the rise in the dollar exchange rate during the past few days, which has created a state of anxiety, noting that the main reason for the rise is attempts to make profits, while the Central Bank’s policy is able to contain such situations continuously.”
He added that “the start of the decline in the exchange rate during the past 24 hours gives indications of the possibility of containing the rise, and there is currently no government intention to raise the official exchange rate.”
Al-Saadi pointed out that “economic and financial pressures and the nature of the current difficult stage may lead to a reconsideration of this course, especially since raising the exchange rate, if accompanied by measures to protect those with limited income and the poor and prevent large jumps in the prices of food and basic commodities, may push the government in this direction and provide additional funds for the state treasury.”
He pointed out that “any approach in this regard must take into account the negative repercussions on the markets, given that the central bank is the body responsible for formulating the country’s financial and monetary policies. Therefore, raising or lowering the exchange rate is a central decision, but it must be accompanied by preventive and precautionary measures to protect the market and citizens.”
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