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The Secretary-General of the Council of Ministers, Hamid Al-Ghazi, confirmed on Sunday (September 26, 2021) that the government is still studying the effects of changing the dollar exchange rate.
The official agency and followed by IQNews quoted the Secretary-General of the Council of Ministers, as saying, “The policy of changing the exchange rate is a monetary policy that belongs to the Central Bank, which is an institution independent of the government and in coordination with the Ministry of Finance. Nevertheless, the Council of Ministers issued its decision No. (63 of 2021).” According to it, a committee was established under the chairmanship of the Ministry of Planning and the membership of the ministries of finance, construction and electricity to study the effects of changing the exchange rate, and to measure its effects and repercussions on the economy and the movement of markets.
He added that "such effects cannot be memorized until after enough time has passed, and the committee is still working on writing its reports to be submitted to the government."
On December 20, 2020, the Central Bank of Iraq issued a decision to reduce the value of the Iraqi dinar against the US dollar, which included selling it in stages.
The previous price of the dollar was sold by the Central Bank at a price of 1180 dinars, and then it is sold in the Iraqi markets at a price exceeding 1200 dinars.