The Central Bank resolves the controversy: There is no intention to change the exchange rate and we have sufficient foreign reserves
Shafaq News / An informed source in the Central Bank of Iraq revealed, on Sunday, that there are no intentions to change the current exchange rate of the dollar against the Iraqi dinar. for the possibility of a price change.
A special source in the Central Bank of Iraq said, “There are no intentions to change the current exchange rate, especially after the positive results that it achieved during the past period.”
He added that “the discussions that took place during the hosting of the Governor of the Central Bank of Iraq in the House of Representatives on Saturday corresponding to February 19, 2022 emphasized the need for concerted efforts by all government institutions to improve the economic and living standards of the poor classes that were affected by the high rate of inflation.”
He called on the public to “not deal with news that indicates the possibility of a price change,” stressing that “the central bank possesses sufficient foreign reserves to stabilize the current exchange rate.”
Yesterday, Saturday, the Iraqi Council of Representatives formed a parliamentary committee specialized in the financial and economic file and supervising the work of the Central Bank, against the background of the tweet of the leader of the Sadrist movement Muqtada al-Sadr regarding the devaluation of the Iraqi dinar against the US dollar.
And the leader of the Sadrist movement, Muqtada al-Sadr, had made six proposals regarding the exchange rate of the dollar against the Iraqi dinar, including summoning the Minister of Finance, Ali Allawi, and the governor of the Central Bank, Mustafa Ghalib, immediately.
Al-Sadr’s proposals included, “strongly stopping currency smuggling, looking into the matter of some banks such as (Middle East, Al-Qabd, and Al-Ansari) belonging to some people who control the currency, and other private banks, and dealing firmly with banks belonging to some of the parties controlling the country and people.”
In addition, Al-Sadr urged “to organize the Iraqi currency market centrally and in a correct manner, by enacting some laws that increase the value of the dinar exchange rate.”