Parliamentary hosting of the Governor of the Central Bank of Iraq regarding the dollar exchange rate
The Parliamentary Finance Committee announced on Monday that it will host in the coming days the governor of the Central Bank of Iraq and its general directors regarding the lack of control over the exchange rate of the US dollar against the dinar
Committee member Mustafa Al-Karaawi told Shafaq News Agency, “The committee will host this week the Governor of the Central Bank, Ali Al-Alaq, and the general directors of the bank to find out the reasons for the rise and fall in the dollar exchange rate in the parallel market and who is the party concerned with implementing the reform packages launched by the Central Bank.”
He pointed out that "the instability of the dollar exchange rate has caused an economic problem, and there is no clear policy for the central bank," stressing that "the government must implement what the bank wants through the reform packages it launched, and therefore controlling the exchange rate is a shared responsibility." between the Central Bank and government agencies, especially those concerned with import and customs ports.”
Al-Karawi pointed out that “hosting the bank’s governor will address the economic crisis, the rise and fall of the dollar, and the agreements the bank signed with the US Federal Reserve and the World Bank.”
The exchange rates of the US dollar have witnessed an upward increase against the Iraqi dinar for several months, and reached its peak this month when the price reached 1,655 dinars to one dollar, despite the government and the Central Bank setting an official exchange rate of 1,320 dinars to one dollar. link
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