10:44 - 07-10-2022
Today, Sunday, the Central Bank confirmed that there is no justification for changing the exchange rate of the dollar against the Iraqi dinar, while indicating that the economic circumstance is the main criterion for changing the exchange rate.
The Deputy Governor of the Central Bank, Ammar Khalaf, said, "The exchange rate at the present time - in our opinion as a monetary authority - there is no justification for changing it," explaining, that "changing the exchange rate remains within the monetary authority's policy and according to circumstances."
He pointed out that "during the years from 2004 until now, the exchange rate has changed more than once, depending on the circumstances, whether to increase or decrease."
He added, "The economic circumstance is the main ruler, and there is no future plan to change the exchange rate, whether after 3-5 years, and the economic conditions determine what is the appropriate decision that fits the time period at the time."
He stressed, "The exchange rate is within the monetary policy and is the exclusive competence of the Central Bank, and when it sees that there is a necessity, it thinks about changing the exchange rate, but currently there is no justification or need to modify it," explaining, that "monetary policy, one of its advantages is flexibility in general and not It is good to change the exchange rate quickly because it confuses the markets and weakens the economy."
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