political| 02:52 – 11/06/2021
Baghdad – Mawazine News
The Finance Committee in the House of Representatives revealed, on Friday, hosting the governor of the Central Bank, pointing to the existence of unofficial sales of the dollar.
Committee member, Naji al-Saidi, pointed out that “an invitation was sent to the governor of the Central Bank for the purpose of hosting him next week to inquire about the high exchange rate of the dollar against the dinar, and the presence of unofficial sales of the dollar.”
Al-Saidi said, “There is a problem related to the economic awareness of the ruling political class, which is a big problem that only the specialist knows, and it needs major government interventions, because there are more than 100 million dollars that go to speculation, and there are those who benefit from the difference between the official and nominal exchange rate, as The official exchange rate is 145 thousand dinars, and the nominal is 150, meaning a difference of about 6 thousand dinars for every 100 dollars, and if the process is calculated, the profits of the banks involved in speculation will appear, and there are political figures supporting this issue that political parties and others benefit from.
And he indicated, “It is the responsibility of the Central Bank to use some steps to increase the money supply of the dollar in order to return it to the 148 thousand, a price parallel to the official price.”
He pointed out, “The issue of the currency sale window if the state does not interfere with all its security, military and economic capabilities with regard to the monetary policy of the Central Bank, then this dilemma cannot be resolved.”
He added that “speculative requests do not exceed between 50 and 70 requests, while selling is carried out at a rate of 210 requests, so who is the one who buys at this price and with this volume of requests, and this confirms the existence of a clear and diagnosed defect.” Ended 29/A43