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Iraq allocates $3 billion to control price hikes
The Parliamentary Finance Committee on Sunday unveiled a $3 billion allocation to control the market and control exchange rate hikes.
"The central bank has allocated three billion dollars in liquidity as a result of high oil prices for the purpose of controlling the market, controlling food and increasing the exchange rate of the dollar against the Iraqi dinar," committee member Jamal Koger told Shafaq News.
"The central bank sells more than $200 million a day at a currency auction for the purpose of controlling the market, but the recent appreciation of the dollar's exchange rate is the result of foreign exchange supply and demand," he said.
On March 31, 2021, the Iraqi Parliament voted on Article 1 of the Budget Act, which included the adoption of the dollar exchange rate of 1,450 dinars per dollar.
The first article proposal stipulated that the price of a barrel of oil should be calculated at 65,000 dinars, without mentioning the exchange rate, which would push the dollar exchange rate to 1,450 dinars per dollar.
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The Parliamentary Finance Committee on Sunday unveiled a $3 billion allocation to control the market and control exchange rate hikes.
"The central bank has allocated three billion dollars in liquidity as a result of high oil prices for the purpose of controlling the market, controlling food and increasing the exchange rate of the dollar against the Iraqi dinar," committee member Jamal Koger told Shafaq News.
"The central bank sells more than $200 million a day at a currency auction for the purpose of controlling the market, but the recent appreciation of the dollar's exchange rate is the result of foreign exchange supply and demand," he said.
On March 31, 2021, the Iraqi Parliament voted on Article 1 of the Budget Act, which included the adoption of the dollar exchange rate of 1,450 dinars per dollar.
The first article proposal stipulated that the price of a barrel of oil should be calculated at 65,000 dinars, without mentioning the exchange rate, which would push the dollar exchange rate to 1,450 dinars per dollar.
[You must be registered and logged in to see this link.]
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