Parliamentary Finance denies intention of the central bank cut the Iraqi dinar exchange rate against the dollar

January 12, 2016 7:37

The parliamentary finance committee denied the intention of the Iraqi Central Bank to reduce the Iraqi dinar exchange rate against the dollar, as pointed out that such a decision would sign a real damage to the citizen class basis and confuses the local markets.

Committee member Hossam punitive in an interview I followed news agency Buratha said there was no truth came in the media about the central bank's intention to reduce Saraf Iraqi dinar against the dollar, noting that he has discuss the matter personally with the Governor of the Central Bank in a telephone call was to investigate the effect of such a decision on Iraqi market price and will double that product prices and falling real damage on the citizen,

He added: It is in the long run and after the supplement market local goods can adjust the exchange rates, noting that oil imports, blocking 75% of employees and pensions as well as the existence of non-oil revenues, such as monthly tax as well as the payment of debts pending telecommunications companies owed to the government more than a billion dollars of internal loans can contribute to avoid the current financial crisis.

To that, the central bank, the lack of intent to amend the Iraqi dinar exchange rate against the dollar, pointing out that the devaluation of the dinar would lead to damaging the purchasing power of citizens.

The bank said in a statement Saturday January 9, 2016, that he "has no intention to amend the dinar exchange rate against the dollar, and the selling price of the dollar has not changed, and that what is declared by the otherwise from any person or entity has no regard for, especially after it has been installed price in the budget In agreement with the government and the International Monetary Fund. "

The statement added that "the central bank is well aware that any reduction in the value of the dinar meant damaging the purchasing power of citizens because most of their imported", pointing out that the bank's board is the only body authorized according to the law determining the exchange rate, and every statement in this regard for the ball dose not with him is confusion and upheaval of the market.