Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of economic policy , 21 MARCH

 Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of economic policy

3/21/2024

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the strength of the dinar against the dinar after a relative decline in the exchange rate.

Saleh told {Al-Furat News} agency, “We indicate the strength of the Iraqi dinar, expressed in the decline in the parallel market rates of exchange in favor of the official exchange rate, a tangible success in the cohesion of the country’s economic policy in its three aspects: monetary, financial, and commercial, in providing a coherent climate of stability in the general level of prices.” And containing seasonal price fluctuations for high-demand items, specifically providing basic food commodities that have low price elasticities of demand because they are necessary commodities associated with consumption and daily living.”

He noted "the importance and speed of customs procedures, which were represented by (reducing customs tariffs and diversifying imports without quantitative limits for necessary goods) as part of the performance of the financial policy in supporting price stability and ensuring the supply of food and essential goods and production supplies at the official exchange rate and in accordance with the requirements of the national economy."

The Parliamentary Finance Committee had expected a continued decline in dollar prices as the results of the measures taken by the Central Bank of Iraq to limit the rise in the foreign currency began to appear.

The dollar exchange rate a few days ago was about 1,500 or 1,490 thousand dinars to the dollar.

From.. Raghad Dahham LINK