PoliticiansThe Central Bank Of IraqDollar Exchange Rate
Twilight News / The Governor of the Central Bank, Ali Al-Alaq, thanked the Prime Minister and members on Tuesday for agreeing to the decision to reduce the dollar exchange rate.
Keywords said in a statement received by Shafaq News Agency; “I extend my sincere thanks and gratitude for the rapid response to the decision of the Central Bank of Iraq to reduce the exchange rate to the dollar in order to alleviate the burden of citizens.”
Earlier on Tuesday, the Council of Ministers approved the amendment of the exchange rate of the US dollar to be at 1300 dinars.
A brief statement by the Information Office of the Council of Ministers, received by Shafaq News, said that the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent of 1300 dinars to the dollar.
This comes after the dollar exchange rate against the dinar rose to unprecedented levels, sometimes exceeding the rate of 1800 dinars per dollar.
Since the first month of the new government taking over the administration of the country, the exchange rate of the US dollar against the Iraqi dinar has risen to exceed 1500 dinars to the dollar before the end of last year.
Since the beginning of this year, the dollar exchange rate has witnessed sudden jumps, as it exceeded the threshold of 1600 dinars to the dollar and remained ranging during the month of last November in the 1600 square, but during the month of February, the dollar exceeded the barrier of 1700 dinars and some days rounded the 1800 dinars to the dollar.
These mutations and fluctuations prompted the government and the Central Bank of Iraq to take several measures in an attempt to control the exchange rate, but they have achieved nothing so far, while some argue that the dollar exchange rate may continue to rise.