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The price of the dollar hits hard in Iraq... confusion in the market and a parliamentary movement to address it
Reports| 05:36 - 20/02/2022
Special - Mawazine News
A state of confusion dominated the Iraqi market, as a result of the parliamentary movement to address the effects of raising the price of the dollar and the rise in the prices of goods and merchandise in the Iraqi markets, and the controversy that accompanied it about the possibility of reducing the exchange rate of the dollar by the Central Bank of Iraq.
Yesterday, the House of Representatives hosted the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, who confirmed that there is no possibility to reduce the price of the dollar, but the local markets witnessed a decrease in dollar prices, as its price reached 1445 dinars to the dollar.
And the owners of the exchange shops demanded that the central bank "determine its position on the statements that come out regarding the reduction of the dollar exchange rate, especially as it introduced confusion in their work and increased supply compared to demand."
According to the owner of a currency exchange in the Karrada area, he spoke to "Mawazine News", "Many citizens are afraid of reducing the price of the dollar, so they are now selling the dollar, fearing a sudden decision and thus losing the difference between the current exchange rate and the new rate."
And he asserts, "The demand for buying dollars from banking shops decreased as a result of the confusion that occurred and the return of the market to normal requires an explicit statement from the Central Bank."
This comes as a parliamentary source revealed meetings of the political blocs, including the State of Law and Al-Fateh coalition, to discuss reducing the dollar exchange rate in light of the high prices of basic materials in the Iraqi markets.
The source added in an interview with Mawazine News that "the dollar hit the poor families and today it threatens economic security, so it is hoped that decisions will be issued regarding dealing with the effects of raising the price of the dollar."
For his part, the representative of the State of Law coalition, a frightening revolutionary, comments on the political turmoil towards reconsidering the dollar exchange rate, stressing that any action has its economic reasons and rationales.
In an interview with Mawazine News, he said that the Sadrist movement had earlier voted to raise the dollar exchange rate, and that this was the country's financial policy, and they believed earlier in the necessity of changing it.
He added that in our meeting with the Prime Minister, he confirmed that the process of raising the exchange rate achieved positive results in terms of raising the central bank’s balance of hard currency from 43 billion to 64 billion dollars, and indicated that
any law issued must have negatives and positives, and in general economists take The biggest pluses. Ended 29/h
The price of the dollar hits hard in Iraq... confusion in the market and a parliamentary movement to address it
Reports| 05:36 - 20/02/2022
Special - Mawazine News
A state of confusion dominated the Iraqi market, as a result of the parliamentary movement to address the effects of raising the price of the dollar and the rise in the prices of goods and merchandise in the Iraqi markets, and the controversy that accompanied it about the possibility of reducing the exchange rate of the dollar by the Central Bank of Iraq.
Yesterday, the House of Representatives hosted the Governor of the Central Bank, Mustafa Ghaleb Mikhaif, who confirmed that there is no possibility to reduce the price of the dollar, but the local markets witnessed a decrease in dollar prices, as its price reached 1445 dinars to the dollar.
And the owners of the exchange shops demanded that the central bank "determine its position on the statements that come out regarding the reduction of the dollar exchange rate, especially as it introduced confusion in their work and increased supply compared to demand."
According to the owner of a currency exchange in the Karrada area, he spoke to "Mawazine News", "Many citizens are afraid of reducing the price of the dollar, so they are now selling the dollar, fearing a sudden decision and thus losing the difference between the current exchange rate and the new rate."
And he asserts, "The demand for buying dollars from banking shops decreased as a result of the confusion that occurred and the return of the market to normal requires an explicit statement from the Central Bank."
This comes as a parliamentary source revealed meetings of the political blocs, including the State of Law and Al-Fateh coalition, to discuss reducing the dollar exchange rate in light of the high prices of basic materials in the Iraqi markets.
The source added in an interview with Mawazine News that "the dollar hit the poor families and today it threatens economic security, so it is hoped that decisions will be issued regarding dealing with the effects of raising the price of the dollar."
For his part, the representative of the State of Law coalition, a frightening revolutionary, comments on the political turmoil towards reconsidering the dollar exchange rate, stressing that any action has its economic reasons and rationales.
In an interview with Mawazine News, he said that the Sadrist movement had earlier voted to raise the dollar exchange rate, and that this was the country's financial policy, and they believed earlier in the necessity of changing it.
He added that in our meeting with the Prime Minister, he confirmed that the process of raising the exchange rate achieved positive results in terms of raising the central bank’s balance of hard currency from 43 billion to 64 billion dollars, and indicated that
any law issued must have negatives and positives, and in general economists take The biggest pluses. Ended 29/h
