๐จ Iraq Continues Focusing on the Dinar ๐ฎ๐ถ๐ต
The fact that Iraqi officials are discussing the exchange rate and the value of the dinar shows they clearly care about strengthening the national currency.
At the same time, they admit that true currency strength requires:
✔ Economic reforms
✔ Market stability
✔ Banking modernization
✔ Inflation control
This is why Iraq continues implementing reforms even today. A stronger economy must come before any major increase in the dinar’s value. ๐
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Al-Saadawi: Addressing The Monetary Crisis Cannot Be Achieved By Raising The Exchange Rate
Information/Special.. MP Abdul Hadi Al-Saadawi confirmed on Tuesday that addressing the monetary and economic situation in Iraq requires a comprehensive package of government measures, indicating that raising the exchange rate alone is not enough to achieve financial stability.
Al-Saadawi told Al-Maalouma News Agency, “Addressing the economic crisis must begin with clear government steps, not just by adjusting or raising the exchange rate, but by controlling the markets and preventing price hikes that burden citizens.”
He added that “the government is required to maintain the real value of the Iraqi dinar and enhance confidence in the local currency, especially with the continued existence of a difference between the dollar exchange rate in the currency selling window and the local markets that exceeds 20 points.”
He noted that “the Central Bank and the government have taken good steps in the past period to address the monetary and financial situation, but the next stage requires greater oversight of the markets and broader support for economic stability.”
Economic expert Nabil al-Ali stated in a previous interview with Al-Maalomah News Agency that the Central Bank should withdraw the newly printed currency from circulation as soon as it is no longer needed, and either destroy or store it instead of recycling it. He emphasized that this measure is the only way to maintain exchange rate stability and prevent monetary inflation that threatens citizens' purchasing power. End/25