Policy 2024-07-25 | Alsumaria News 2,909 views Alsumaria News – Politics Today, Thursday, July 25, 2024, the Parliamentary Finance Committee confirmed that the
Central Bank of Iraq’s procedures to change the exchange rate of the dollar in Iraqi local markets
did not have any impact and
did not achieve any real actual results,
revealing a legal violation involving the Governor of the Central Bank of Iraq, Ali Al-Alaq.
A member of the Finance Committee, Muhammad Nouri , said in an interview with Al-Sumaria News,
“The Central Bank of Iraq is still continuing with its wrong procedures that have not achieved any effect and have not achieved any real actual result in changing the exchange rate of the dollar in the Iraqi local markets, which has negatively affected the Iraqi reality and has increased.” "Inflation rates have increased significantly in recent days."
He added, “There is work on this issue by the Parliamentary Finance Committee, whether it is interrogations or changing the governor of the Central Bank due to the legal age, as he has exceeded the legal age, and this is a violation of the Civil Service Law,” pointing out that
“many topics will be addressed by the Council in the coming days, especially the dollar file.”
Because of the great delays, in addition to the control of foreign banks owned by foreign capital owners, this causes an imbalance in national security and Iraqi economic security.”
Some time ago, the price of the dollar decreased in the parallel market, as it stabilized at 145 thousand dinars for every 100 dollars over the past period, but it rose again to exceed 150 thousand dinars a few days ago.
Since the beginning of last year, Washington has intervened to limit the smuggling of dollars from Iraq, which led to a rise in the price of the dollar in the local market to a record level of 170,000 dinars per 100 dollars, due to the decline in the Central Bank’s sales of dollars, given its subjection to the international “SWIFT” financial system..
It is noteworthy that the Central Bank decided to finance trade in the euro, the Chinese yuan, the Emirati dirham, and the Indian rupee, in steps to reduce the demand for the dollar.
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