Khalati: Collecting parliamentary signatures to review the dollar’s exchange rate
Khalati: Collecting parliamentary signatures to review the dollar’s exchange rate
Posted, 03/15/2021 23:52:58
{Economy: Al Furat News} An Iraqi MP for the coalition, Hassan Khatti, announced the gathering of parliamentary signatures to reconsider the exchange rate of the dollar after its negative impact on the local market.
Khalati mentioned {to the Euphrates News} about “collecting representative signatures to choose a new value for the exchange rate and propose it to the government,” explaining that “it will be an intermediate between the old price {1200} dinars and the current {1450} dinars per dollar.”
Khalati suggested that “the exchange rate will be {1350} dinars against the dollar and it is logical and will contribute to the stability of the market.”
He added, “The sharp rise in the dollar’s price has had a negative impact on those with limited incomes, in a clear way.”
Khatti noted, “The House of Representatives has now directed not to take into account the government’s opinion regarding raising the exchange rate and reconsidering the given amount {1460} dinars to one dollar,” ruling out “a return to the old exchange rate {1200} dinars against the dollar.”
On January 19, 2020, the Central Bank of Iraq decided to raise the exchange rate of the dollar against the dinar with the support of the Ministry of Finance, and it became official:
1460 dinars per dollar the selling price of foreign currency to banks.
1470 dinars per dollar is the selling price of foreign currency to the public.
The decision sparked a wave of anger in the Iraqi street as a result of the high prices of materials in general and their impact on low-income people.
The Ministry of Finance attributed the decision to the government’s attempts to address the stifling crisis that Iraq is witnessing as a result of low oil prices, to ensure protection of the economy and to achieve the reforms that it promised several months ago.
alforatnews.com
