The central pumping dollar after hours of its rally in the markets

[size=52]The central pumping dollar after hours of its rally in the markets[/size]

[size=45]The central bank decided, on Wednesday, to increase the quantities of sales of foreign currency to banks and exchange firms to control the price hike.
[size=45]The bank’s deputy governor, Ammar Hamad Khalaf, said in a generalized statement to banks, exchange companies and currency brokerage firms that he received (the term), that the decision was made “for the purposes of meeting demands for foreign currency, achieving monetary policy objectives, and ensuring the stability of the exchange rate.”[/size]
[size=45]The decision increased the share of the weekly sales of banks to 200,000 dollars a week, the share of the A-class exchange company to 150,000 dollars a week, the B-class exchange company's share to 500,000 dollars, and the C-class exchange company's share to 50,000 dollars a week.[/size]
[size=45]Since Tuesday, the Stock Exchange has recorded a rise in the exchange rate of the dollar against the dinar. The rise came hours after statements by an official at the Central Bank of Iraq, in which he confirmed that the World Bank had proposed to Iraq to raise the exchange rate to be 1600 dinars per dollar.[/size]
[size=45]The exchange rate of the dollar on the Al-Kifah and Al-Harithiya stock exchanges in Baghdad rose to 1492.5 dinars per dollar, and slightly exceeded that in a number of governorates, at a record high since the government decided at the end of 2020 to raise the dollar exchange rate from about 1,200 to 1450, and fix this in the state budget for 2021. That was voted by Parliament at the end of last month, and the exchange rate has ranged in recent months between 1450 and 1470.[/size]
[size=45]The Deputy Governor of the Central Bank, Ihssan Shamran Al-Yasiri, confirmed, on Tuesday, that the World Bank had proposed to Iraq to raise the exchange rate of the dollar to 1600, since that is the real price that the local market can settle on compared to neighboring countries, explaining in a press statement that the "Iraqi Central" found that The current value of the exchange rate of 1,450 is adequate, and it has achieved the desired results in monetary policy. In turn, the State of Law coalition demanded, led by Nuri al-Maliki, on Wednesday, to re-exchange the dollar to its previous status, noting that the wrong decision to change it led to a clear rise in the markets.[/size]
[size=45]The head of the bloc, Khalaf Abd al-Samad, said in a statement seen by Al-Mada, "The gap created between the already high exchange rate and its market price means more high prices, and as a result, more economic difficulties for the poor, middle and low-income classes." The statement added, "Iraqis today suffer a lot despite the promises and government programs that they heard," indicating that "the repercussions of the wrong decision to raise the exchange rate and include it in the budget (it paid off) with a significant rise in prices."[/size]
[size=45]He stressed, "What is happening from a dangerous indicator of a new rise in the dollar, confirms the weakness of the monetary policy management in the country and puts many question marks."[/size]
[size=45]And the statement went on, that "the state of law bloc adheres to its firm position that the exchange rate must be returned to what it was with the high price of oil on world markets."[/size]
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