CoM directs to study fluctuation of exchange rate of IQDWednesday, 11 April 2012 14:28 |
Baghdad (AIN) -The Council of Ministries directed to form a committee to study the fluctuation of the exchange rate of Iraqi dinar and propose appropriate solutions to prevent economic damage.
The Iraqiya Satellite Channel reported that "The Council of Ministers set up a committee to study the fluctuation of the exchange rate of the Iraqi dinar."
The Iraqi market witnesses a significant rise in the exchange rate of the dollar against the Iraqi dinar, where the buying price reached up to 1300 dinars for a dollar, while the price specified by the Central Bank of Iraq till this day is 1166 dinars for a US dollar, which means an increase of 134 dinars per dollar, and this equates to about 11% of the official set price."
The deputy manager of the CBI, Modher Mohammed Salih, justified the increase in rate of exchange by the high demand on US Dollars in Iraq due to international restrictions on some neighboring countries such as Syria and Iran.
"Truth is everlasting, but our ideas about truth are changeable. Only a little of the first fruits of wisdom, only a few fragments of the boundless heights and depths of truth, have I been able to gather"