MP blames poor monetary policy and political problems for low IQD exchange rate

Baghdad (newsletter). Returned MP for the Iraqi coalition//qais alshazar, causes of low exchange rate of the Iraqi dinar against the US dollar to the country’s political problems, and the lack of control over the sale and purchase of foreign exchange.

Said alshazar (News Agency): the weakness of monetary policy by the Central Bank, which led to the lack of real control on the sale of hard currency and how to disburse and volume in the market caused by the depreciation of the dinar against the dollar.

He said: as well as the lack of control over transfers of funds, which caused the flight of many funds and out of hard currency out of the country.

He added: the political problems in the country during the last phase also contributed to the degradation of the value of the national currency as it led to a growing demand for dollar in the local market.  This has seen the Iraqi dinar exchange rate recently sharply against the US dollar