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[size=38]Popular satisfaction with the decline in the price of the dollar.. and warnings from traders who buy it at a discount and sell it at a higher value[/size]
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February 8, 2023[You must be registered and logged in to see this link.]
Baghdad / Obelisk: The exchange rates of the dollar on the Iraqi Stock Exchange are witnessing a decrease, after the Council of Ministers approved the decision to adjust the exchange rate.
Citizens, in contact with the obelisk, said that it is possible to buy dollars easily and at a lower price than it was in the past few days.
The exchange rate of $100 on the Iraqi Stock Exchange reached about 144,000 dinars, with few fluctuations.
And documented scenes and pictures showed crowding in the Erbil Stock Exchange after the decline in the value of the dollar against the Iraqi dinar.
Adviser to the Prime Minister, Mazhar Muhammad Salih, said that the decision to adjust the exchange rate of the dollar is commensurate with the percentage of the current increase in the current account of the Iraqi balance of payments, indicating that the 2023 budget will adopt the new exchange rate of 130 thousand dinars for every 100 dollars.
And citizen Ali Taqi says that the step will ease the burdens on the shoulders of citizens.
A member of the State of Law coalition, Wael al-Rikabi, said that the government and the central bank’s decision to reduce the dollar exchange rate was expected, and it comes within the central bank’s plans drawn up in consultation with the government, adding that the decision to reduce the exchange rate is evidence of the government’s continued control of exchange rates.
But on the other hand, there are those who fear the high prices in the markets, and the exploitation of merchants, the opportunity to maintain high prices.
Iraq needs exceptional efforts to strengthen the economy by encouraging investment, operating factories and agriculture.
And the Council of Ministers, in its meeting held on Tuesday, approved the decision of the Board of Directors of the Central Bank of Iraq to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars to one dollar.
The Central Bank of Iraq had launched a new campaign to reduce the price of the dollar against the dinar, after meeting with the delegation of the Federal Treasury in Istanbul.
The Governor of the Central Bank, Ali Al-Alaq, said that a second package will be issued in the middle of this month to control the exchange rate, while stressing that there are no internal or external restrictions on external transfer or cash sale of dollars.
The rise in the exchange rate of a dollar against the Iraqi dinar led to an increase in the prices of commodities, basic materials and foodstuffs in the markets, which burdened the Iraqi citizen.
During the past weeks, the capital, Baghdad, Nasiriyah, and the rest of the provinces witnessed demonstrations organized by hundreds of citizens to protest against the high exchange rates of the US dollar against the Iraqi dinar.
The demonstrators demanded an end to speculation in the exchange rates of the dollar, urgent economic measures to be taken, the restoration of the dollar exchange rate within the official context, and the accountability of the corrupt.
The economist, Salam Sumaisem, considered that decreasing the exchange rate is not a governmental decision, but rather a product of economic policies and reform measures that cause an adjustment in the exchange rate. New hits the economy.
Prepared by Muhammad Al-Khafaji
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